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Fastrack is first wrist watch Brand in INDIA. Its comes under the World of Titan.

Fastrack launched in Market in 1998 with the sporty segment.

Write Up of Assignment


INTRODUCTION Fastrack is sub-brand of titan.Fastrack is established in 1998.reposioned in 2003.its Indias first wrist watch company. Under the umbrella of fastrack there is six different Product line. Michael Porters Five Force Model:Threat of New Entrants (High) Capital cost is moderate High Entry of many foreign and global players due to removal of qualitative restrictions by government. Supplier Power (Very Low) No strong suppliers Titan has its own production facilities Titan outsource the components for dash from low cost producers in China & Taiwan Degree of Rivalry (High) Large number of Players Lack of Differentiation Entry Barriers are low A large grey market hinders growth Threat of Substitutes (Very low) No close Substitutes Threat from large usage of mobile phones & laptops which also displays time. Buyer Power (Moderate) Fragmented of buyer industry Buyers are price sensitive Low Switching cost Large number of Suppliers Product features Matrix:Brand Size Case Material Dial Color Case Shapes Movements Complications Case Diameter Price Range / On Special X Y Z

SWOT ANALYSIS:STRENGTHS : Goodwill in the market Strong financial position Fast changing designs WEAKNESS : Short cycle products which are expensive to make

Weak channel of communication Lack of exclusive stores OPPORTUNITIES : Rapid market growth Changing customer needs To create relation between society on social marketing basis THREATS : Tough competition in watches Low profit margins New competition in market COMPETATIVE STRATEGIES:Marketing Strategies:It was spun off as an independent brand of watches targeting the urban youth in 2005. Since then, it has infiltrated the lives of India's youth with designs that were refreshingly different and affordable. Fastrack has now pushed past the horizons into newer areas - bags, belts, wallets & wrist bands - as part of its mission to offer the youth everything they need to be cooool!!! Now serving up it's vision in six different flavours, enough to fully packed store, fastrack has chosen to 'move on' and throw open the doors of its own stores for its young consumers. Marketing Mix:Product and Price:COLLECTION PRICE RANGE TARGET Sport 2000-4000 Men only Army 2000-3500 Both men and women Adventure 1000-2000 Both men and women Basics 500-1500 Both men and women Grunge 1000-2500 Both men and women Aluminium 500-1000 girls only Colour Play 1000-2000 girls only Digital Fashion 500-2000 Both men and women Essentials 1000-2500 Both men and women Party 1500-3000 Both men and women Neon - Disc 1000-2500 Men only Pricing Objective: The pricing strategy adopted by Fastrack is market share maximization as they are targeting people with affordable cost range. They have watches from the range of 499 to more than 4000,so that they can attract customers of lower segment to higher segment and this clearly shows that they are into capturing more of the market share than making profit or other strategies. Promotion: Advertising: advertising is in the form of television commercials. The company uses youth icons to portray the trendy and funky look of the brand and to associate with it. Public displays also play an important role in promotion. The colorful and lively bill boards play an important role in promotion.

Place: Channels: The product is sold at almost all the leading watch stores and shopping malls. The company has also established branded stores and it is also available in Titan stores. Coverage: the products are available all over India. Distribution:Fastrack follow parallel distribution It sells watches online through direct marketing It sells through factory outlets like Fastrack store & World of Titan. It sells its products in major chains like bigbaazar, city central etc. It sells through retail outlets ( watch shops , gift shops) FASTRACK PRODUCT LIFE CYCLE:Maturity

Growth(Fastrack) Decline Introduction Fastrack is in growth stage now as it is marking rapid climb in sales. Early adaptors like the product and the additional customers start buying the product. The company continuously coming up with new features Segmentation:Geographic Continent- Asia Country- India Size/ population- India- 1,220,200,000 Demographic Age- 15-25 , 25-30 , 30 above Gender- Male & Female Income- 10000-20000 , 20000-30000 , 30,000 above Occupation- students , young executives , graduate and post- graduate students , journalists , sports athletes. Psychographic Activities- basketball , swimming , dancing , acting , gymming , gaming Interest- socializing, reading, painting, travelling , adventure sports , theatre,cars/bikes , gadgets , music Opinions- intellectual , reasoning talk , opinionated Personality- ambitious. Due to the limitation of Number of pages. I am only adding the name on which I will work in rest of days. Positioning Consumer Buying Behaviors a) Cultural factor : c) Economic Circumstances : b) Life style : d)Social class # Buying Decision Process # PEST analysis # Value chain Analysis # Competitors Profile matrix. etc