Akella Sandeep 2017EPGP006

Biswakalyan Mohapatra 2017EPGP017

Sachin Dharwatkar 2017EPGP036
 Contents
• History
• Situation Analysis(SWOT & Porter 5 Forces)
• STP
• PLC
• Marketing Mix
• AIDA Model of Promotion
• 5 M of Advertising
• Ad Analysis
• Brand Positioning
• Brand Equity
• Brand Dynamics Pyramid
 Quick Facts
•Quantity of watches sold yearly in India : 50 million

•Wrist Watch Market Size : Rs. 1500 Crore

•Average Price of watch sold in India : Rs. 1000

•The replacement rate of watch is 33.8 % (India market demographics

report )

•Male watch buyers far outnumber females and account for around 65% of
sales.

•Students are the largest segment of buyers accounting for approximately

30% of the sales.
 History
•Fastrack was launched in 1998 as a sub-brand of Titan – spun
off as an independent accessory brand targeting the urban
youth in 2005.

•Fastrack was promoted with the slogan "Cool Watches from Titan” to
compete with Timex after they parted ways.

• Fastrack’s advertising was provocative, tongue-in-cheek; its unique &

affordable designs & its quick extension across categories ensured its
popularity with the urban youth.

•A brand that questioned everything, pushed boundaries, constantly re-

invented and never strayed near the beaten path. Fastrack earned the tag of
being ‘Effortlessly Cool’.
 Current Status https://www.titan.co.in/hot-time-fastrack

brand has successfully notched up the title of being the most

loved youth fashion brand in the country – Facebook fan base now touches
6 million.

Fastrack questioned everything, pushed boundaries,

constantly re-invented and never strayed near the beaten
path.

 With enough categories, Fastrack opened its exclusive

store chain across the country.
 ANALYSIS
STRENGTHS WEAKNESSES
 Good Distribution Network – over 180  Products have a short life due to
Fast track stores across 90 towns - plus changing trends – Adds to the cost of
Titan Service Centres across India. production.
 High youth connect – Positioning as a  Limited global reach despite being a
youth stylish brand. popular brand.
 Excellent advertising and brand visibility
– connected with the youth.
 Diverse portfolio of watches, sun glasses,
bags, reflex activity trackers, helmets etc.
OPPORTUNITIES THREATS
 Fast growing youth segment presents  Youth segment is price sensitive.
growth opportunities.  Entry of foreign players has led to tough
 Global penetration would help brand competition.
grow and target youth worldwide.  With lots of options available, brand
 Tie-up with fashion houses and special switching is quite high.
schemes for youth.
Analysis in the Youth Segment
PORTER’S 5 FORCES
 Rivalry Among Existing Firms
• Rivalry is high in watch industry because many well known domestic and
foreign brands are the dominant players of the industry.

• These competitors are trying to differentiate their watches through new

features and functions.

• Rivalry is really unfavorable for Fastrack. Due to technology improvements

and competitions between different competitors already exist in the
industry; four out of five forces of Fastrack are moderately unfavorable

• THREAT : HIGH
 Threat of New Entrants/Potential
Competitors
• Entry barriers are relatively low for the wrist watch industry

• So the new entrant has to have an offering, which can be positioned and
differentiated from the other players in the market
– This could be either price or functional or emotional appeal
– So the prime barrier for entry for a new entrant is to build a brand
image and price competitively

• Fastrack is not only seen as a watch but also as a brand

• THREAT : MEDIUM
 Threat of Substitute Products
• Rich consumers prefer to purchase watches more as a fashion
accessory rather than simply for its typical use

• Nowadays people can get the time and the other feature on mobile
phone. So, need of wrist watch is in decreasing trend.

• THREAT : LOW
 The Bargaining Power of Buyers
• Buyer power is medium, which make the watch industry moderately
unfavorable. The Indian watch buyers are very price sensitive,
especially in the lower end of the market.

• There are a segment of people who are willing to pay a premium for
watches with good performance and with a recognized brand name.
So understanding the buyers ‟preferences” is very crucial in this
industry in order to gain a substantial market share.

• Customers can easily opt for competitor’s brand.

• THREAT : MEDIUM
 The Bargaining Power of Suppliers
• Due to the large supply of watch movements available, there is little
supplier power in the watch market. Under this force, watch industry is
favorable.

• Also there has been a rise of low cost producers in China & Taiwan which
has provided an opportunity for watch makers to outsource watches at low
cost, just as Titan has done to outsource the components for Dash.

• THREAT : LOW
 COMPARISON OF 5 FORCES
THREAT LOW MEDIUM HIGH

Threat of New Entrants ✔

Threat of Substitute Products ✔

The Bargaining Power of Buyers ✔

The Bargaining Power of Suppliers

✔

Rivalry Among Existing Firms ✔

OVERALL ✔
 Segmentation

Demographic Psychographic Behavioral

• Age :- 15 – 25 and later • Young & Energetic • Attitude on sleeve

for kids ‘Star War’
collection • Lifestyle – Trendy and • Open to experiment
fashionable
• Gender :- Unisex • Want recognition
• Brand conscious
• Occupation :- Students • Rebellious
(matriculate to • Price conscious
graduates )

Low Priced Medium Priced High Priced

< 1,000/- 1,000/- to 3,000/- > 3,000/-
Targeting

Niche audience

Targeted the ‘Young and

Young at Heart’
Fashion conscious but
price sensitive
 Niche Market
 360 degree approach in its communication and the use of
social media have helped it become the ultimate fashion
accessory of the youth.

 Since most of Fastrack’s target group owned a bike, it launched a biker's

collection – a classic example of consumer-centric product innovation.

 Over the years, Fastrack introduced products in vogue – reflex

activity trackers, sexybacks, sun block-travellers-wanderers
sunglasses, and helmets.
 Positioning

Whenever we ‘How many do

Fastrack took think of you have’?
the challenge Fastrack, “
Fastrack has of combining
positioned MOVE ON“
both the Wear existing
itself as both comes to our
features to watch OR
trendy and offer a greater mind – this is
affordable how it has a fashion
value to its
customers positioned accessory !
itself
Strategic Positioning
PLC of Fastrack
 4P’s #Product
• Product Variety: Colorful & Trendy; suitable towards urban youth

• Quality: Emphasis on quality, supported by backing of mother brand Titan,

which is known for customer satisfaction & quality

• Design: Cool & Elegant

• Brand-name: Has become synonymous with youth as a fashion icon

Has migrated from owning single watch to owning multiple watches, designed
for every occasion from sports to casual wear
 Fastrack Pricing Segmentation
• MASS : 350 – 600
• Popular : 600 – 900
• Premium : 900 – 1500
• Super Premium : 1500 – 8000
• Connoisseur Segment : 8000 - 150000
 4P’s #Price
• Fastrack watches have price ranging from 800/- to 5100/-*

• Targeted: Premium & Super Premium Segments

(refer to previous slide for classification)

• Titan’s (Fastrack) primary pricing objective is to kill Competition.

• Being an Indian manufacture and infusing the advantages of the Indian

market with the dynamics of the western market the company has carved
itself a place difficult to achieve by foreign players.

* Information collected from E-Commerce sites such as Snapdeal, Flipkart etc

 4P’s #Place
• The company was interested in targeting the youth segment in an urban
sector that went for style

• It started opening its retail outlets all over India.

– Outlets : 6000+
– Service Centers : 740
– Fastrack Stores : 180
 Distribution network
https://www.titan.co.in/Franchising https://www.titan.co.in/hot-time-service

65 Distributors 2300
11,000+ ALL INDIA Towns
Dealers

367 220
World Of Titan
Showrooms Towns

180 90
Multi-brand-stores Fastrack Stores Towns

740 250
Centers
Service Centers Towns
 4P’s #Promotion

1998 Cool, Funky & Trendy

2004 Move On
onwards
How many you have??
 4P’s #Promotion
•Fastrack watches were initially aimed at age group 12- 25 as Cool
Watches from TITAN.
•Later relaunched in 2005 targeting youth with age group between 18-30.
Pull Strategy: Creating image in the consumer head by
Promotional Mix
•Bill Boards Advertising : Bold Provocative commercials , catchy on liners
bill boards.
 Promotion Mix
• Occasion based promotion:
• Ran a Valentine sales promotion by offering jewellery from Fastrack as a
gift item on purchase of the watch. A limited collection of 300(exclusivity)
to be sold between 1st Feb to 13th Feb across Metros cities.
 Promotion Mix
•Use of Social Media such as Facebook, twitter ,
Instagram and We chat

•Website based Promotion

With Blogs linking the watches to affinity to something.
•Product –Philes promotion.
 Promotion Mix
• Public Relation and Publicity
“Change Our name” campaign aimed at increasing awareness and interest
among public.

Making use of social issues

 Promotion Mix
• Discount and seasonal launches:
Fastrack came up with discount sales with exiting model during festive
season and launches new models during July –August when college and
school reopen
 Promotion Mix
• Celebrities Endorsement
Fastrack was endorsed by youth icons such as Virat Kohli, Genelia and
John Abraham with campaign such as “Move On” and “Sweet NO more” ,
“Sorry for What” to associate with emotions Youths undergo at their age.
 Promotion Mix
• Apart from implementing a Pull Strategy Fastrack has also focused on
push strategy:
• Opening of dedicated Retails stores(220 stores across the country & 122 in
all metros, mini metros and several smaller towns like Manipal and Nasik.)
• Fastrack's Retail Experience 2.0
• http://www.livemint.com/Companies/t5szky0iIUnIGjvc8EufUP/Titans-
Fastrack-to-launch-new-store-format-tomorrow.html
• https://retail.franchiseindia.com/news/Fastrack-s-Retail-Experience-2-
0.n5669/
 AIDA Communication Model

•Attention:
•Fastrack was launched as an mid-range watch for early job grabbers
and college goer which was more of a fashion accessory than a watch.
•Youth Icon such as Genelia and Virat Kohli, John Abraham as brand
ambassadors with ads campaign such as Move on , Yes Sir

•Interest:
•Youth centric designs with variety of collections from Sports, Army
to Hip-hop.
•As Youth thought themselves to more adventurous, carefree and
impulsive , campaigns such as Blame Fastrack, How many you got.
•Bold stylish, pattern and shape matching that of Heart and Love with
use of colours such as Red, Black and silver making it a blend of
romance and Fashion.
 AIDA Model (Cont)
• Desire:
• Price Point: The price point ranging from Rs 500-5000, was appealing for
both college goers and well as early jobbers.
• Variety of collection: Hip hop , Army , Bikers , Colour Play, etc connected
with young generation with different attitude and interest.

• Action:
• Availability of multiple location of sales such as Mall, Fastrack (Titan
Outlet), E-commerce sites, etc.
• Brand Image of Titan product combined with excellent warranty and after
sales service.
 Ad Analysis
• Fastrack lives up to the its image of being bold, sexy and contemporary in
each of its ad campaign.
• MOVE ON- Come out of the Closet campaign shows the unapologetic and
devil may care attitude of youth towards socials taboo such as Live-in ,
Adultery and Same sex affairs.
https://www.youtube.com/watch?v=yJe9fEx7u58

• The recent ad campaign of Never have I ever reflect the way the youth
prefer to lead their lives and that eternal peer pressure on the young to do
“something worthwhile” and “something different”. The quirky
commercials depict young people, who are living up to these expectations
in their own special way.
https://www.youtube.com/watch?v=Ltvm0LmomZs&list=PLkAjVFAbOGjg1
m3__ZQ1KAfTAJmlheLh5&index=3
 5M’s of Advertising
Media
Use of Billboards in
Metro Cities.
Social Media
Dedicated websites
Mission Money Television and Internet. Measurement.
Connect with Youth. Titan Largest market Running Ad campaign With launch of new
Increase sales share in watches. about hot social topics campaign, the
Promote new product Fastrack contributes 30- to increase connect popularity has manifold
Maintain its sexy and bold 40% of Titan Watches. and sales have
urban image Lowe Lintus Ad agency increased.
Campaign such as World best creative Message Fastrack most popular
How many do you have agency as per WARC 100. Endorsement by youth youth brand.
Gift a watch High Frequency ads Icon.
Gear up for some action Fresh and contemporary Use of #tag culture.
ads to stay ahead in Usage of blog about
competition. philes(affinity about
something.
Social issues dealt by
Youth.
Promote youth to come
out of skeleton.
 Brand Positioning
• Fastrack launched as cool watch in 1998 directed at age group of 15-25 yrs
at a price range of Rs 500- Rs 2500.
• It was the first watch targeted at youth.
• Indian Watch market was found to be more segmented and it was
relaunched in 2005 with the Tag Line Move on for college goers and New
Jobbers.
• With bright colours, bold styling and youthfulness in the design, Fastrack
watches positioned itself as a Fashion accessory for youth rather than a
watch for keeping track of time.
• With successive catchy and controversial ad campaign involving of Socio-
cultural issues which resonated with current generation, it reinforced itself
as Youth Brand.
• Devil may care attitude, doing things differently, being awkward is cool
captured youth imagination and fortified Fastrack position as a brand for
young, energetic , aberrant and cool people.
 Brand Equity
• Fastrack initially positioned as cool watches for age group 15-25
• Failed to strike a cord. Later repositioned in 2005 as Watches for Youth.
• Post the re-launch, Fastrack has been coming up with new ad campaign
which stirred the nation.
• http://articles.lenskart.com/fastrack-campaigns-that-stirred-the-
nation.html.
• Move on campaign – highly controversial ad campaign align with the
Brand strategy of moving on with time with launches of new design and
acceptance to social –cultural issues.
• http://economictimes.indiatimes.com/et-now/brand-equity/brand-equity-
reviewing-fastrack-move-on-campaign/videoshow/20135497.cms
• Never have I Ever campaign : Speaks about how youth does think
differently under the pressure to behave and uphold the societal norms.
• Fastrack over the decade has been able to be fresh, bold and quirky
encouraging youth to chill out and lead interesting lives.
BRAND DYNAMICS PYRAMID