3. EXECUTIVE SUMMARY
• Sub-brand of Titan
• Market saturated with international designer labels
• Carved a niche for itself in the youth accessories market (watches and sunglasses)
• Designs that are refreshingly different, casual, eclectic & fun.
• Prices that don’t burn a hole through the pocket.
• Targeted at Generation Next
• Captures the essence and philosophy of today’s free spirited youth
• Positioning encapsulated in a tongue in cheek colloquial phrase - Move on
7. Fastrack | 2005
-Students
Expanding
-SEC A & B
the
-30 biggest
segments
towns
Steely,
More
executive
products +
look
New look
Fastrack
“How
many
Failure
do you
have”
Retargeting
Executive
the
segment
youngsters
Prices
lowered :
Prices
starting
hiked
from 500
Sturdy and
Ultimate
long
fashion
lasting
accessory
8. Fastrack | 2012
-Students
Watches,
bags and
eyewear
-SEC A & B
-30 biggest
towns
Fastrack
“Move
on”
Retargeting
the
youngsters
Prices
lowered :
starting
from 500
Ultimate
fashion
accessory
9. CURRENT MARKETING
SITUATION
• Fastrack to strengthen its time-wear segment
• To take Titan ahead from mere need-based to a fashion-determined accessory brand
• Started in 1999-2000 by marketing under the Fastrack brand it is targeted at the youth
segment
• With Age group of 14-35 years : mainly targeted towards teenagers & collegians
• There are over 350 designs available for youth within range of Rs.500 To 2995
• Titan Fastrack seeks to bring in a new dimension to the Indian watch market
• With this addition to the Titan portfolio, young consumers can now turn to fulfill their fashion
needs
10. COMPETITOR REVIEW
TIMEX
• Largest Selling Brand in
USA and Canada
• Lowest priced watch
manufacturers in the
world
• Entered India in
collaboration with Titan
• Broke away in 1998
• Has launched a new
brand named Helix
• Targeting the
demographic segment
of 18-24 year old
CASIO
SWATCH
• Japan based company
• Product Range includes
calculators and musical
instruments
• 90% market share in
digital calculators
• Recent positioning
focuses on low end
watches
• Swiss Brand
• Launched in 1993
• High brand equity owing
to the Swiss heritage.
• High tech, high quality
and high prestige value
associated with the
brand
• Official time-keepers for
many high profile events
including Olympics
• Recently started
focusing on the
upwardly mobile youth
11. • Good distribution network
• High youth connect
• Fast changing designs
• Most trusted brand
• Excellent brand visibility
• Low global reach
• High production costs due to ever
changing trends
Strengths
Occasions
• Expanding youth segment
• Expanding the target
audience in terms of age
and class
• Global expansion
• Tie ups with fashion houses
Weakness
Threats
• Youth segment is price
sensitive
• High brand switching due
to low switching price
• Entry of foreign players has
increased competition
12. MARKETING STRATEGY
Pricing
• The primary pricing objective is to kill competition from international players like Swatch and Esprit
• Prices range from Rs. 550 to Rs. 7000 which caters to a wide spectrum of buyers from the TG
• Hit the sweet spot of aspiration and affordability with a brand that is high on strength and coolness factor
Product
• Premium metal and plastic body watches innovative in design and functionality
• Ideal accessory with casual wear for all age groups
• Large range of designs and features owing to the buyer’s need to have a unique product
• Since the product is already highly successful as the brand, it is a good time to expand into a higher price range.
Distribution Strategy
• 55 exclusive Fastrack stores in 22 cities
• 745 service centres in 345 towns
• Online retail through Jabong, Myntra, Flipkart and other e-commerce sites
13. BRAND ASSET VALUATOR
• Differentiation (High)
• Promises innovation
• Efficient after-sales services
• Relevance (Moderate)
• Value for money and fun brand for college students
• Most preferred watch brand for gifts
• Does not appeal to all the age categories
• Esteem (Low)
• Customers not able to relate to the prestige of a brand
• Only value for money
• Knowledge (High)
• Has a strong brand image
• People think it has a strictly youth initial positioning
• Brand familiarity was high amongst college going teens
14. OBJECTIVES AND ISSUES
• Problems with current positioning
• Moderate “Relevance”- Restricted Target Group- Only targets to the youth
• Low “Esteem”- not considered a very prestigious brand- only a “value for money”
brand
• Objective for repositioning• Expanding the target base- making the product appealing to the 30-45 age group
• To move towards being perceived as a brand having premium products in its range as
well
• Issues with repositioning
• Ability to establish a well regarded brand named to new meaningful positioning
• This will require heavy investment in marketing another memorable and distinctive
brand image, that promises to project the same innovation quality and value that the
brand stands for
• There is an additional requirement to measure awareness and respond in order to
adjust marketing efforts as and when necessary
15. FUTURE PLANS
• Titan targeting three-fold growth in revenue
• In 5 years to Rs. 14000 crore making them a 3 billion dollar company
• Fastrack targets 880 crore turnover for the fiscal year 2012-2013
• Plans to add 200 more exclusive Fastrack showrooms
• Tapping into the huge oppurtunity in International Markets
16. CONSUMER INSIGHTS
• Most urban 30-50 year olds are becoming brand and fashion conscious
• They no longer want to be perceived as someone older and like to maintain a youthful and
energetic lifestyle
• They are usually working professionals leading hectic lifestyles
• They enjoy a number of youth activities like movies, pubs, eating out, sports events,
concerts and many others
• They are moving away from formal wear like trousers to casual wear like Khakis and
denims
• They are also eager to try younger brands like Nike
• They like to keep up with the technology, even though they may not be proficient with it
• They are buying the latest phones and laptops to fulfill this need
• They spend more on grooming products, clothes and accessories than ever
17. ACTION PLAN
PHASE I
PHASE II
PHASE III
PHASE IV
• Generating Awareness
• Timeframe: 1 month
• Introduction of the new range-products with sophisticated designs
• Launch in the media
• Introducing new Brand ambassadors like- Gul Panag, Rahul Bose- someone old and yet fun.
• Interest generation
• Timeframe: 2 month
• Promotional advertisements in print and on TV- During prime time slots
• - HBO, Star movies, Star World, News Channels etc;
• Print Ads
• - Economic Times/Business Standard/Outlook/India Today/Readers Digest
• Product will be made available to the market
• Desire
• Promotional campaigns with the central idea “Wisdom is Overrated”
• Thus keeping the trendy image intact and connecting with the youthful spirit in everyone
• Action
• On ground activations
• - Gyms, jogging parks
• Corporate tie-ups
• - Discounts during launch; like discounts proportional to age
• Promotion
• For example, via pair watches for couples
