Description
PROJECT ON FASTRACK
RESEARCH ON FASTRACK
MADHUBANTI DAS GAURAV SHARMA
RESEARCH DETAILS
No. of Interviews : 9 INTERVIEWEES Department Manager – Pantaloons, Phoenix Mall Sales Man – Sunglass hut, Phoenix Mall ? Sales Girl – Fastrack store , Kalyani nagar ? Watch Repairer – Time Plus, Chandan Nagar ? CUSTOMER ? Kiran sabde ? Sayantam pahuja ? Anindita khemka ? Sandra awasthy ? Saurabh Sharma
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MEMBER #1
MADHUBANTI DAS
RESEARCH DETAILS
No. of interviews : 5 INTERVIEWEES
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PUSHKAR TEWARY Designation: salesman Venue: sunglass hut, phoenix mall SANDEEP SINGH Designation: watch repairer Venue: time plus shop, chandan nagar
ANINDITA KHEMKA Designation: verve communications, bpo Venue: phoenix mall, viman nagar SANDRA AWASTHY Designation: homemaker Venue: mg road, fashion street KIRAN SABDE Designation: engineering student Venue: mg road, fashion street
NAME
PUSHKAR TEWARI
DESIGNATION
VENUE STORE HOURS BRANDS AT STORE CUSTOMER FLOW Weekdays Weekends CUSTOMER AGE GROUP CUSTOMER?S MIND FLUCTUATION PARAMETERS FOR MIND FLUCTUATION WHY NO FASTRACK SUNGLASS @ SUNGLASS HUT
Salesman, sunglass hut
Phoenix mall, Viman Nagar 9 am to 6 pm No Fastrack sunglasses
From 12noon to 12.30pm From 9.30 am to 10 am
YOUNGSTERS TO MIDDLE AGED (oldies occasionally) Not very often Product style Low sales; sub-standard style
I N T E R V I E W
NAME
SANDEEP SINGH WATCH REPAIRER TIME PLUS, CHANDAN NAGAR 10 am to 9 pm LOCAL BRANDS From 11 am to 9 pm TITAN, SONATA NO SUCH GROUP – EVERYONE YES LOOSELY BUILT BELTS; DIAL GET STUCK USUALLY NO; DIALS GET STUCK EVEN AFTER REPAIR
I N T E R V I E W
DESIGNATION VENUE STORE HOURS BRANDS AT STORE CUSTOMER FLOW BEST BRAND FOR REPAIR CUSTOMER AGE GROUP EVER REPAIRED FASTRACK MAIN PROBLEM WITH FASTRACK DOES THE PROBLEM GET FIXED ON FIRST ATTEMPT
NAME
PROFESSION
ANINDITA KHEMKA
Verve communications, bpo
AGE GROUP
PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR
Between 24 – 30 years
Titan Too flashy and not formal I LIKE ITS BAGS, BUT CAN USE IT ONLY ON FRIDAYS AND WHEN I HANGOUT WITH friends(which is not very regular) Not very costly but only the youngsters who love to flaunt will buy it
HOW DO YOU RATE FASTRACK FOR ITS COST
WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS
HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS
I would love to try its shoes
A bag for me and twice(watches) for my friends as a gift
I N T E R V I E W
I N T E R V I E W
NAME
PROFESSION
AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS
SANDRA AWASTHY
Homemaker
Between 30 - 35 years
For youngsters except for sunglasses Sunglasses and belts are cool Under the budget Yes i would love to try its shoes
I buy its belt on regular basis
WOULD YOU RECOMMEND IT OTHERS
Yes; infact i have already referred it to my sister-in-law
NAME
PROFESSION AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS WOULD YOU RECOMMEND IT OTHERS
KIRAN SABDE
ENGINEER BETWEEN 19 - 25 YEARS FASTRACK GREAT BRAND, STYLISH AND COOL SUNGLASSES AND BAGS UNDER THE BUDGET OFCOURSE, I WOULD DEFINITELY TRY LOTS OF TIMES; ESPECIALLY SUNGLASSES AND WATCHES ALL MY FRIENDS? CIRCLE USES IT
I N T E R V I E W
MEMBER # 2
GAURAV SHARMA
RESEARCH DETAILS
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NO. OF INTERVIEWEES : 4
DIVYA KHEMKA Designation: sales girl Venue: fastrack store, kalyani nagar
RAKESH PATEKAR Designation: department manager Venue: pantaloons, phoenix mall
SAYANTAM PAHUJA Designation: college student Venue: mg road, fashion street
SAURABH SHARMA Designation: engineer, bajaj finserv Venue: wadgaon sheri
I N T E R V I E W
NAME DESIGNATION VENUE STORE HOURS BRANDS AT STORE
RAKESH PATEKAR DEPT. MANAGER, PANTALOONS PHOENIX MALL, VIMAN NAGAR 11 am to 10 pm ROLEX, FASTRACK, ZOOP, TITAN, TOMMY HILFIGER, RAYBAN, etc. 11 am to 9.30 pm CHILDREN TO OLD AGED PEOPLE
CUSTOMER FLOW CUSTOMER AGE GROUP
CUSTOMER?S MIND FLUCTUATION
PARAMETERS FOR MIND FLUCTUATION VISITORS GETTING CONVERTED TO CUSTOMERS
NOT VERY OFTEN, BUT IT DOES HAPPEN
PRODUCT STYLE 8/10 – OTHER BRANDS WATCHES 6/10 – FASTRACK WATCHES 8/10 – FASTRACK SUNGLASSES
NAME DESIGNATION VENUE STORE HOURS BRANDS AT STORE
DIVYA KHEMKA SALES GIRL, FASTRACK STORE KOREGAON PARK PLAZA, K.P. 10 am to 8.30 pm FASTRACK WRIST WATCHES, SUNGLASSES, BELTS, BAGS, WALLETS, WRIST BANDS, ACCESSORIES 10.30 am to 8.15 pm DEPENDS ON THE PRICE AND STYLE. PEOPLE ARE ALREADY BRAND LOYALS. WILL BE VERY DIFFICULT FOR FASTRACK TO PENETRATE. SUNGLASSES & WRIST WATCHES YOUNGSTERS TO MIDDLE AGED PEOPLE HAPPENS IN VARIOUS PRODUCTS
CUSTOMER FLOW YOUR VIEWS ON FASTRACK JEANS AND JACKETS
MOST SOUGHT AFTER FASTRACK PRODUCT CUSTOMER AGE GROUP
CUSTOMER?S MIND FLUCTUATION
PARAMETERS FOR MIND FLUCTUATION
PRODUCT STYLE & PRICE
8/10 – WATCHES 6/10 – BAGS 8/10 – SUNGLASSES 4/10 – ACCESSORIES
VISITORS GETTING CONVERTED TO CUSTOMERS
I N T E R V I E W
NAME
SAYANTAM PAHUJA
Student, christ college Between 19 - 25 years I buy watches from fashion street Good for people with disposable money; i can get the same stylewatches with similar features at fashion street in less than half its cost Sunglasses are good but again, I buy sunglasses also from F C road Costly for me YES , IF IT COMES IN THE PRICE RANGE BETWEEN rs.700-1500 Once; as a gift for my elder brother Its feasible to buy from fashion street or F C road, so i would not suggest them to buy branded watches or sunglasses. Besides, Sonata has better watches in the same range.
I N T E R V I E W
PROFESSION AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK
ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS WOULD YOU RECOMMEND IT TO OTHERS
NAME
PROFESSION AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS WOULD YOU RECOMMEND IT TO OTHERS
SAURABH SHARMA
Engineer, Bajaj Finserv Between 25 - 30 years Titan Too flashy but stylish Sunglasses are good; but i prefer ray ban over fastrack Its not very costly but the products are not at all formal which i need mostly for office or formal parties. I would love to try it based on its variety and price Never; once i was given as a gift Yes; to my younger brother
I N T E R V I E W
PRIMARY RESEARCH INFERENCE
Fastrack has a high brand recall and awareness yet unwilling to buy ? Few consider it too flashy ? Other?s consider it high priced – compared to Chinese watches available at road side shops ? Youngsters are willing to buy it. ? Middle aged people (30-35) use it as gifts.
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UNDERSTANDING THE PROBLEM
THROUGH OUR PRIMARY RESEARCH WE FOUND: ? Watches are not very much liked by the people who are : A. LOWER MIDDLE CLASS B. ELITE SECTION It is being used by the youth of Upper Middle Class
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UNDERSTANDING THE PROBLEM
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THROUGH OUR SECONDARY RESEARCH WE FOUND
Currently Fastrack contributes 36 per cent of Titan's watch division profits. ? Titan plans to add 200 Fastrack stores during this fiscal. ? It expects to sell 4.6 million watches, over 1.1 million sunglasses and a million other accessories this year.
Source:http://profit.ndtv.com/news/corporates/article-how-titan-plans-to-grow-with-fastrack-307455
FASTRACK – ABOUT
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PARENT COMPANY: TITAN INDUSTRIES LIMITED (Joint Venture of TATA Group & Tamil Nadu Industrial Development Corporation) PRODUCT CATEGORY: WATCHES, BAGS & ACCESSORIES (WALLETS & BELTS)
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SECTOR: LIFESTYLE AND RETAIL
CONTRIBUTES 25% SALES REVENUE IN TITAN?S REVENUE TAGLINE: MOVE ON USP: YOUTH APPEAL
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FASTRACK OVERALL BUSINESS
Titan is the world?s fifth largest wrist watch manufacturer ? Size of the current watch market is 40-45 million pieces annually. ? Fastrack sells 3 million watches annually ? Fastrack?s turnover was about Rs. 615 crore, 2011-12
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Source:http://www.moneycontrol.com/news/bu...-sees-fy12-sales-top-rs-8200crore_554467.htmlhttp://profit.ndtv.com/news/corporates/article-how-titan-plans-to-grow-with-fastrack-307455http://www.businessstandard.com
FASTRACK OVERALL BUSINESS
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The company reported net sales of Rs. 8,838 crore. ? Fastrack plans to launch helmets, bicycles in the next two years. ? Currently Fastrack contributes 36 per cent of Titan's watch division profits. ? Titan Industries expects its revenue in the current fiscal (2011-12) will be over Rs 8,200 crore, compared with net sales of Rs 6,532.97 crore in 2010-11
FASTRACK - RESOURCES
Human Resource ? Product Manufacturer ? Factory Outlet ? Raw Materials ? Distributor ? Retailer ? Major Chain (eg. Future Groups? Big Bazar)
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OTHER BRANDS
WATCH
SWATCH CASIO TIMEX
SUNGLASS
RAY BAN ARMANI ARMETTE DOLCE & GABBANA DKNY GUCCI
BAGS & SHOES WALLETS
PUMA NIKE SKYBAGS FEEL GOOD VINCENT CHASE BUTTERFL Y PUMA REEBOK NIKE ADIDAS BATA ALDO
FASTRACK - AMBITIONS
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Fastrack is thinking of going global as the segment is borderless – Bhaskar Bhatt, MD, Titan Brand Extension – Planning to extend in motorcycle Helmets and footwear. Planning to open 100 fastrack stores in tier 2 and tier 3 cities The company is planning to enhance store space from current 500 sq. ft to about 700 sq. ft. The company will also be investing heavily on increasing its physical presence both in terms of retail networks and advertisements.
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THEREFORE..
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Fastrack is in the growth stage now as it is marking rapid climb in sales. Early adapters like the product and the additional customers start buying the product. Company continuously coming up with new features and variants keeping the brand moving forward satisfying the tastes and needs of different customers.
CATEGORY - SHOES
COMPETITIVE SET ? All stylish and trendy shoe(non-formal) brand ? All sports shoe ? All the shoes that people wear while hanging out
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CURRENT SCENARIO
CURRENT SCENARIO
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Reebok is currently the market leader in India with 46 % of market share in the sportswear circuit. Adidas is currently ranked 2nd with 21% share They are followed by other brands with 16% market share Nike and Puma comes at the bottom in branded sportswear. The price of Nike shoes starts from Rs.900 whereas those of Puma starts at Rs.2000 and that of Reebok starts at Rs. 4000. The local brands of Shoe is also doing a good business with most middle class segment of people opting for Roadside shops to buy sports shoe.
WHAT?S NEW
Fastrack is planning to enter into a new category – Shoes. ? It will take on Puma, Nike and Adidas. ? Fastrack Shoes will range between Rs. 700 – 3500. ? Fastrack plans to sell at least 10 million pairs in the first year.
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COMPETITORS
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MAJOR COMPETITORS
ADIDAS PUMA NIKE
OBJECTIVES OF COMPETITORS
ADIDAS
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Adidas' main objective is to become the best sports brand in the world. The company aims to set high standards for other similar companies. Adidas also aims to make innovative products modelled on the athlete's needs.
Source: www.adidas-group.com
PUMA
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PUMA?s goal is to be “The Most Desirable Sport lifestyle Company”. Puma tries to strengthen its position in all categories and regions as one of the few multi-category brands. The long-term potential of the company is estimated to be € 4 billion in sales.
Source:http://about.puma.com/category/company/strategy/corp-strat/
OBJECTIVES OF COMPETITORS
NIKE
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Nikes main objective is to develop products that help athletes of every level of ability reach their potential, to create business opportunities that set Nike apart from the competition and to provide value for its shareholders.
Source: www.nikeresponsibility.com
COMPETITOR?S STRATEGY
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TARGET MARKET ADIDAS
Sports personalities involved in various sporting activities such as soccer, rugby, swimming, athletics and basketball ? Young people: male and female, between the ages of 10 to 30 ? PUMA ? Age – 15 to 30 years ? when a person is sporty and active ? Both male & female ? NIKE
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Active people who enjoy high-quality sporting goods. Young kids that love foot wear and running and improving the running in track in any sports
COMPETITOR?S STRATEGY
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POSITIONING PUMA Sport lifestyle brand that takes pleasure in skilfully combining sports and lifestyle influences and which strives to contribute to a better world. NIKE To bring inspiration and innovation to every athlete in the world. This is supplemented by Nike's definition of an athlete as anyone who has a body. ADIDAS Multi-sports specialist: leading sports brand in the world
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BRAND
BRANDING IDEA CREATIVE BRIEF
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ACCOUNT PLANNING
CREATIVE BRIEF
BRAND: FASTRACK
MADHUBANTI DAS & GAURAV SHARMA
18/09/13
BRAND – CAMPAIGNS TILL NOW
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Fastrack has been using the following means to promote itself: TVC PRINT ADVERTISEMENT OUT OF HOME ADVERTISEMENT WEBSITE PROMOTION SALES PROMOTION PUBLIC RELATIONS SOCIAL MEDIA PROMOTION ONLINE CAMPAIGN
TVC
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„Cool Watches from Titan? campaign which made Fastrack to grab Attention of the customer by using the name of its Parent company which was already established.(year 1998) After the growth became stagnant Fastrack changed the message to „Move On? and „How Many You Have?? (2003 – current year).
TVC
•Most of the Fastrack TVC is based on youth content and youth Ambassadors. •Most of its ad campaigns were based on Sex content Eg.
?Yes Sir Ad (How many you have campaign) ?Fastrack Sunglasses Ad starring John Abraham ?Blame Fastrack campaign – Girl coming out of hostel, naughty hand ad ?Genelia D?Souza and Virat Kohli fastrack bags ad – Move On ?Live In, Mature is In, etc campaign
TVC
WEBSITE AD
SALES PROMOTION
FASTRACK always come up with sales promotion during festival seasons and special locations. They provide 20-40 % discount on all ranges
PR 2.0 Campaign
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Fastrack was one of the few companies in India to take the lead on embracing PR 2.0. Fastrack has come out with the Fastrack social media news room for bloggers. They are using the newsroom to share information and news on Fastrack. It also features social media press releases (Bikers and Neon Disk), videos, media coverage, product and company information, spokesperson profile, RSS feeds, and more. For the consumers, Fastrack has launched two Facebook groups called Life on Fastrack and Bikers on the Fastrack.
MY EX BOX – ONLINE CAMPAIGN
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Fastrack has launched MyExBox An Online campaign Users can post videos that communicate Encourages users to vent reasons why they had to dump someone or something and „Move On? The most viewed video of the week wins Merchandise and gets a chance to be on TVC.
FASTRACK – HIDDEN ASSETS
Fastrack caters to the urban youth aged between 16 and 25. ? This segment is huge ? It is ready to try different things. ? The design of ranges of Fastrack products are very stylish and changes frequently
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FASTRACK – HIDDEN ASSETS
Its packaging is also very stylish, unique and attractive to the youth. ? Therefore, it has the capacity to go beyond this country as this segment is borderless. ? Fastrack Shoes has the capability to reach abroad.
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CUSTOMER
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WHO A teenager who aspires to achieve success by making his own footprints and not by following others. STAGE IN LIFE He/she is rebellious and wants to bring about a change in the society in his own way, yet he/she respects the old traditional values. A DAY IN LIFE He wakes up early in the morning and goes for jogging before leaving for his college. He returns home in the evening and manages his assignments without ignoring his house chores. He goes to gym in the evening and then catches up with his friends and his girlfriend. He is always active among his friends and is seen as the style icon by others.
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CUSTOMER
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MEDIA TOUCHPOINTS While jogging While going to college While going to gym While hanging out with friends While dating While partying
?I
am Fastrack Shoes. I am the catalyst that
pushes him to go that extra mile and achieve success; and I also act as a stylish accessory that separates him from others, thereby making him the style icon among his friends.
TRIGGER Need to wear stylish, sporty and affordable shoes
CONSIDER Various trendy, stylish and affordable shoes
SEARCH Promotion through various mass media. Easier for its customer to collect information.
CHOOSE Reputation Fastrack shoes the best option
BUY Sub decision – convenience, availability, payment
EXPERIENCE Comfortable and stylish experience Being the style icon among friends
KEY DISCOVERY: CONSUMER
Need to look stylish, cool and trendy. Youth has an upper hand Looking stylish and trendy gives me a separate identity – style icon among friends. ? I want to be the trend setter among my friends.
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“Everyone wants to have a separate identity – Fastrack Shoes gives a way to be the style icon.”
THANK YOU
doc_780540127.pptx
PROJECT ON FASTRACK
RESEARCH ON FASTRACK
MADHUBANTI DAS GAURAV SHARMA
RESEARCH DETAILS
No. of Interviews : 9 INTERVIEWEES Department Manager – Pantaloons, Phoenix Mall Sales Man – Sunglass hut, Phoenix Mall ? Sales Girl – Fastrack store , Kalyani nagar ? Watch Repairer – Time Plus, Chandan Nagar ? CUSTOMER ? Kiran sabde ? Sayantam pahuja ? Anindita khemka ? Sandra awasthy ? Saurabh Sharma
? ? ? ?
MEMBER #1
MADHUBANTI DAS
RESEARCH DETAILS
No. of interviews : 5 INTERVIEWEES
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PUSHKAR TEWARY Designation: salesman Venue: sunglass hut, phoenix mall SANDEEP SINGH Designation: watch repairer Venue: time plus shop, chandan nagar
ANINDITA KHEMKA Designation: verve communications, bpo Venue: phoenix mall, viman nagar SANDRA AWASTHY Designation: homemaker Venue: mg road, fashion street KIRAN SABDE Designation: engineering student Venue: mg road, fashion street
NAME
PUSHKAR TEWARI
DESIGNATION
VENUE STORE HOURS BRANDS AT STORE CUSTOMER FLOW Weekdays Weekends CUSTOMER AGE GROUP CUSTOMER?S MIND FLUCTUATION PARAMETERS FOR MIND FLUCTUATION WHY NO FASTRACK SUNGLASS @ SUNGLASS HUT
Salesman, sunglass hut
Phoenix mall, Viman Nagar 9 am to 6 pm No Fastrack sunglasses
From 12noon to 12.30pm From 9.30 am to 10 am
YOUNGSTERS TO MIDDLE AGED (oldies occasionally) Not very often Product style Low sales; sub-standard style
I N T E R V I E W
NAME
SANDEEP SINGH WATCH REPAIRER TIME PLUS, CHANDAN NAGAR 10 am to 9 pm LOCAL BRANDS From 11 am to 9 pm TITAN, SONATA NO SUCH GROUP – EVERYONE YES LOOSELY BUILT BELTS; DIAL GET STUCK USUALLY NO; DIALS GET STUCK EVEN AFTER REPAIR
I N T E R V I E W
DESIGNATION VENUE STORE HOURS BRANDS AT STORE CUSTOMER FLOW BEST BRAND FOR REPAIR CUSTOMER AGE GROUP EVER REPAIRED FASTRACK MAIN PROBLEM WITH FASTRACK DOES THE PROBLEM GET FIXED ON FIRST ATTEMPT
NAME
PROFESSION
ANINDITA KHEMKA
Verve communications, bpo
AGE GROUP
PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR
Between 24 – 30 years
Titan Too flashy and not formal I LIKE ITS BAGS, BUT CAN USE IT ONLY ON FRIDAYS AND WHEN I HANGOUT WITH friends(which is not very regular) Not very costly but only the youngsters who love to flaunt will buy it
HOW DO YOU RATE FASTRACK FOR ITS COST
WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS
HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS
I would love to try its shoes
A bag for me and twice(watches) for my friends as a gift
I N T E R V I E W
I N T E R V I E W
NAME
PROFESSION
AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS
SANDRA AWASTHY
Homemaker
Between 30 - 35 years
For youngsters except for sunglasses Sunglasses and belts are cool Under the budget Yes i would love to try its shoes
I buy its belt on regular basis
WOULD YOU RECOMMEND IT OTHERS
Yes; infact i have already referred it to my sister-in-law
NAME
PROFESSION AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS WOULD YOU RECOMMEND IT OTHERS
KIRAN SABDE
ENGINEER BETWEEN 19 - 25 YEARS FASTRACK GREAT BRAND, STYLISH AND COOL SUNGLASSES AND BAGS UNDER THE BUDGET OFCOURSE, I WOULD DEFINITELY TRY LOTS OF TIMES; ESPECIALLY SUNGLASSES AND WATCHES ALL MY FRIENDS? CIRCLE USES IT
I N T E R V I E W
MEMBER # 2
GAURAV SHARMA
RESEARCH DETAILS
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NO. OF INTERVIEWEES : 4
DIVYA KHEMKA Designation: sales girl Venue: fastrack store, kalyani nagar
RAKESH PATEKAR Designation: department manager Venue: pantaloons, phoenix mall
SAYANTAM PAHUJA Designation: college student Venue: mg road, fashion street
SAURABH SHARMA Designation: engineer, bajaj finserv Venue: wadgaon sheri
I N T E R V I E W
NAME DESIGNATION VENUE STORE HOURS BRANDS AT STORE
RAKESH PATEKAR DEPT. MANAGER, PANTALOONS PHOENIX MALL, VIMAN NAGAR 11 am to 10 pm ROLEX, FASTRACK, ZOOP, TITAN, TOMMY HILFIGER, RAYBAN, etc. 11 am to 9.30 pm CHILDREN TO OLD AGED PEOPLE
CUSTOMER FLOW CUSTOMER AGE GROUP
CUSTOMER?S MIND FLUCTUATION
PARAMETERS FOR MIND FLUCTUATION VISITORS GETTING CONVERTED TO CUSTOMERS
NOT VERY OFTEN, BUT IT DOES HAPPEN
PRODUCT STYLE 8/10 – OTHER BRANDS WATCHES 6/10 – FASTRACK WATCHES 8/10 – FASTRACK SUNGLASSES
NAME DESIGNATION VENUE STORE HOURS BRANDS AT STORE
DIVYA KHEMKA SALES GIRL, FASTRACK STORE KOREGAON PARK PLAZA, K.P. 10 am to 8.30 pm FASTRACK WRIST WATCHES, SUNGLASSES, BELTS, BAGS, WALLETS, WRIST BANDS, ACCESSORIES 10.30 am to 8.15 pm DEPENDS ON THE PRICE AND STYLE. PEOPLE ARE ALREADY BRAND LOYALS. WILL BE VERY DIFFICULT FOR FASTRACK TO PENETRATE. SUNGLASSES & WRIST WATCHES YOUNGSTERS TO MIDDLE AGED PEOPLE HAPPENS IN VARIOUS PRODUCTS
CUSTOMER FLOW YOUR VIEWS ON FASTRACK JEANS AND JACKETS
MOST SOUGHT AFTER FASTRACK PRODUCT CUSTOMER AGE GROUP
CUSTOMER?S MIND FLUCTUATION
PARAMETERS FOR MIND FLUCTUATION
PRODUCT STYLE & PRICE
8/10 – WATCHES 6/10 – BAGS 8/10 – SUNGLASSES 4/10 – ACCESSORIES
VISITORS GETTING CONVERTED TO CUSTOMERS
I N T E R V I E W
NAME
SAYANTAM PAHUJA
Student, christ college Between 19 - 25 years I buy watches from fashion street Good for people with disposable money; i can get the same stylewatches with similar features at fashion street in less than half its cost Sunglasses are good but again, I buy sunglasses also from F C road Costly for me YES , IF IT COMES IN THE PRICE RANGE BETWEEN rs.700-1500 Once; as a gift for my elder brother Its feasible to buy from fashion street or F C road, so i would not suggest them to buy branded watches or sunglasses. Besides, Sonata has better watches in the same range.
I N T E R V I E W
PROFESSION AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK
ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS WOULD YOU RECOMMEND IT TO OTHERS
NAME
PROFESSION AGE GROUP PREFERRED BRAND FOR WATCHES OPINION ABOUT FASTRACK ANY OTHER PRODUCT OF FASTRACK YOU FAVOR HOW DO YOU RATE FASTRACK FOR ITS COST WOULD YOU BUY FASTRACK JEANS OR SHOES OR JACKETS HOW MANY TIMES HAVE YOU BOUGHT FASTRACK PRODUCTS WOULD YOU RECOMMEND IT TO OTHERS
SAURABH SHARMA
Engineer, Bajaj Finserv Between 25 - 30 years Titan Too flashy but stylish Sunglasses are good; but i prefer ray ban over fastrack Its not very costly but the products are not at all formal which i need mostly for office or formal parties. I would love to try it based on its variety and price Never; once i was given as a gift Yes; to my younger brother
I N T E R V I E W
PRIMARY RESEARCH INFERENCE
Fastrack has a high brand recall and awareness yet unwilling to buy ? Few consider it too flashy ? Other?s consider it high priced – compared to Chinese watches available at road side shops ? Youngsters are willing to buy it. ? Middle aged people (30-35) use it as gifts.
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UNDERSTANDING THE PROBLEM
THROUGH OUR PRIMARY RESEARCH WE FOUND: ? Watches are not very much liked by the people who are : A. LOWER MIDDLE CLASS B. ELITE SECTION It is being used by the youth of Upper Middle Class
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UNDERSTANDING THE PROBLEM
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THROUGH OUR SECONDARY RESEARCH WE FOUND
Currently Fastrack contributes 36 per cent of Titan's watch division profits. ? Titan plans to add 200 Fastrack stores during this fiscal. ? It expects to sell 4.6 million watches, over 1.1 million sunglasses and a million other accessories this year.
Source:http://profit.ndtv.com/news/corporates/article-how-titan-plans-to-grow-with-fastrack-307455
FASTRACK – ABOUT
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PARENT COMPANY: TITAN INDUSTRIES LIMITED (Joint Venture of TATA Group & Tamil Nadu Industrial Development Corporation) PRODUCT CATEGORY: WATCHES, BAGS & ACCESSORIES (WALLETS & BELTS)
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SECTOR: LIFESTYLE AND RETAIL
CONTRIBUTES 25% SALES REVENUE IN TITAN?S REVENUE TAGLINE: MOVE ON USP: YOUTH APPEAL
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FASTRACK OVERALL BUSINESS
Titan is the world?s fifth largest wrist watch manufacturer ? Size of the current watch market is 40-45 million pieces annually. ? Fastrack sells 3 million watches annually ? Fastrack?s turnover was about Rs. 615 crore, 2011-12
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Source:http://www.moneycontrol.com/news/bu...-sees-fy12-sales-top-rs-8200crore_554467.htmlhttp://profit.ndtv.com/news/corporates/article-how-titan-plans-to-grow-with-fastrack-307455http://www.businessstandard.com
FASTRACK OVERALL BUSINESS
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The company reported net sales of Rs. 8,838 crore. ? Fastrack plans to launch helmets, bicycles in the next two years. ? Currently Fastrack contributes 36 per cent of Titan's watch division profits. ? Titan Industries expects its revenue in the current fiscal (2011-12) will be over Rs 8,200 crore, compared with net sales of Rs 6,532.97 crore in 2010-11
FASTRACK - RESOURCES
Human Resource ? Product Manufacturer ? Factory Outlet ? Raw Materials ? Distributor ? Retailer ? Major Chain (eg. Future Groups? Big Bazar)
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OTHER BRANDS
WATCH
SWATCH CASIO TIMEX
SUNGLASS
RAY BAN ARMANI ARMETTE DOLCE & GABBANA DKNY GUCCI
BAGS & SHOES WALLETS
PUMA NIKE SKYBAGS FEEL GOOD VINCENT CHASE BUTTERFL Y PUMA REEBOK NIKE ADIDAS BATA ALDO
FASTRACK - AMBITIONS
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Fastrack is thinking of going global as the segment is borderless – Bhaskar Bhatt, MD, Titan Brand Extension – Planning to extend in motorcycle Helmets and footwear. Planning to open 100 fastrack stores in tier 2 and tier 3 cities The company is planning to enhance store space from current 500 sq. ft to about 700 sq. ft. The company will also be investing heavily on increasing its physical presence both in terms of retail networks and advertisements.
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THEREFORE..
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Fastrack is in the growth stage now as it is marking rapid climb in sales. Early adapters like the product and the additional customers start buying the product. Company continuously coming up with new features and variants keeping the brand moving forward satisfying the tastes and needs of different customers.
CATEGORY - SHOES
COMPETITIVE SET ? All stylish and trendy shoe(non-formal) brand ? All sports shoe ? All the shoes that people wear while hanging out
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CURRENT SCENARIO
CURRENT SCENARIO
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Reebok is currently the market leader in India with 46 % of market share in the sportswear circuit. Adidas is currently ranked 2nd with 21% share They are followed by other brands with 16% market share Nike and Puma comes at the bottom in branded sportswear. The price of Nike shoes starts from Rs.900 whereas those of Puma starts at Rs.2000 and that of Reebok starts at Rs. 4000. The local brands of Shoe is also doing a good business with most middle class segment of people opting for Roadside shops to buy sports shoe.
WHAT?S NEW
Fastrack is planning to enter into a new category – Shoes. ? It will take on Puma, Nike and Adidas. ? Fastrack Shoes will range between Rs. 700 – 3500. ? Fastrack plans to sell at least 10 million pairs in the first year.
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COMPETITORS
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MAJOR COMPETITORS
ADIDAS PUMA NIKE
OBJECTIVES OF COMPETITORS
ADIDAS
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Adidas' main objective is to become the best sports brand in the world. The company aims to set high standards for other similar companies. Adidas also aims to make innovative products modelled on the athlete's needs.
Source: www.adidas-group.com
PUMA
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PUMA?s goal is to be “The Most Desirable Sport lifestyle Company”. Puma tries to strengthen its position in all categories and regions as one of the few multi-category brands. The long-term potential of the company is estimated to be € 4 billion in sales.
Source:http://about.puma.com/category/company/strategy/corp-strat/
OBJECTIVES OF COMPETITORS
NIKE
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Nikes main objective is to develop products that help athletes of every level of ability reach their potential, to create business opportunities that set Nike apart from the competition and to provide value for its shareholders.
Source: www.nikeresponsibility.com
COMPETITOR?S STRATEGY
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TARGET MARKET ADIDAS
Sports personalities involved in various sporting activities such as soccer, rugby, swimming, athletics and basketball ? Young people: male and female, between the ages of 10 to 30 ? PUMA ? Age – 15 to 30 years ? when a person is sporty and active ? Both male & female ? NIKE
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Active people who enjoy high-quality sporting goods. Young kids that love foot wear and running and improving the running in track in any sports
COMPETITOR?S STRATEGY
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POSITIONING PUMA Sport lifestyle brand that takes pleasure in skilfully combining sports and lifestyle influences and which strives to contribute to a better world. NIKE To bring inspiration and innovation to every athlete in the world. This is supplemented by Nike's definition of an athlete as anyone who has a body. ADIDAS Multi-sports specialist: leading sports brand in the world
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BRAND
BRANDING IDEA CREATIVE BRIEF
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ACCOUNT PLANNING
CREATIVE BRIEF
BRAND: FASTRACK
MADHUBANTI DAS & GAURAV SHARMA
18/09/13
BRAND – CAMPAIGNS TILL NOW
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Fastrack has been using the following means to promote itself: TVC PRINT ADVERTISEMENT OUT OF HOME ADVERTISEMENT WEBSITE PROMOTION SALES PROMOTION PUBLIC RELATIONS SOCIAL MEDIA PROMOTION ONLINE CAMPAIGN
TVC
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„Cool Watches from Titan? campaign which made Fastrack to grab Attention of the customer by using the name of its Parent company which was already established.(year 1998) After the growth became stagnant Fastrack changed the message to „Move On? and „How Many You Have?? (2003 – current year).
TVC
•Most of the Fastrack TVC is based on youth content and youth Ambassadors. •Most of its ad campaigns were based on Sex content Eg.
?Yes Sir Ad (How many you have campaign) ?Fastrack Sunglasses Ad starring John Abraham ?Blame Fastrack campaign – Girl coming out of hostel, naughty hand ad ?Genelia D?Souza and Virat Kohli fastrack bags ad – Move On ?Live In, Mature is In, etc campaign
TVC
WEBSITE AD
SALES PROMOTION
FASTRACK always come up with sales promotion during festival seasons and special locations. They provide 20-40 % discount on all ranges
PR 2.0 Campaign
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Fastrack was one of the few companies in India to take the lead on embracing PR 2.0. Fastrack has come out with the Fastrack social media news room for bloggers. They are using the newsroom to share information and news on Fastrack. It also features social media press releases (Bikers and Neon Disk), videos, media coverage, product and company information, spokesperson profile, RSS feeds, and more. For the consumers, Fastrack has launched two Facebook groups called Life on Fastrack and Bikers on the Fastrack.
MY EX BOX – ONLINE CAMPAIGN
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Fastrack has launched MyExBox An Online campaign Users can post videos that communicate Encourages users to vent reasons why they had to dump someone or something and „Move On? The most viewed video of the week wins Merchandise and gets a chance to be on TVC.
FASTRACK – HIDDEN ASSETS
Fastrack caters to the urban youth aged between 16 and 25. ? This segment is huge ? It is ready to try different things. ? The design of ranges of Fastrack products are very stylish and changes frequently
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FASTRACK – HIDDEN ASSETS
Its packaging is also very stylish, unique and attractive to the youth. ? Therefore, it has the capacity to go beyond this country as this segment is borderless. ? Fastrack Shoes has the capability to reach abroad.
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CUSTOMER
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WHO A teenager who aspires to achieve success by making his own footprints and not by following others. STAGE IN LIFE He/she is rebellious and wants to bring about a change in the society in his own way, yet he/she respects the old traditional values. A DAY IN LIFE He wakes up early in the morning and goes for jogging before leaving for his college. He returns home in the evening and manages his assignments without ignoring his house chores. He goes to gym in the evening and then catches up with his friends and his girlfriend. He is always active among his friends and is seen as the style icon by others.
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CUSTOMER
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MEDIA TOUCHPOINTS While jogging While going to college While going to gym While hanging out with friends While dating While partying
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am Fastrack Shoes. I am the catalyst that
pushes him to go that extra mile and achieve success; and I also act as a stylish accessory that separates him from others, thereby making him the style icon among his friends.
TRIGGER Need to wear stylish, sporty and affordable shoes
CONSIDER Various trendy, stylish and affordable shoes
SEARCH Promotion through various mass media. Easier for its customer to collect information.
CHOOSE Reputation Fastrack shoes the best option
BUY Sub decision – convenience, availability, payment
EXPERIENCE Comfortable and stylish experience Being the style icon among friends
KEY DISCOVERY: CONSUMER
Need to look stylish, cool and trendy. Youth has an upper hand Looking stylish and trendy gives me a separate identity – style icon among friends. ? I want to be the trend setter among my friends.
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“Everyone wants to have a separate identity – Fastrack Shoes gives a way to be the style icon.”
THANK YOU
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