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1.0 Introduction
1.1 Origin of the report
This report has been prepared to gain a practical knowledge about Consumer Behavior. It is
undertaken as a realistic requirement for the Business Communication BUS231 course of
Business Administration program. The report is about a renowned product Fastrack. Our report
is a comprehensive study that wraps all important features of Consumer Behavior. And our five-
member group has prepared the report in accordance with the instructions of our course
instructor, Engr. Kamrul Hassan, Assistant professor, Department of Business Administration,
East West University.

1.2 Background of the Study
Background of the study is to prepare a term paper which is a part of the course completion and
submit a formal report which will help to learn about the information system implementation in
an organization. It is important to make a formal report and submit it on time to complete the
course requirement.
1.3 Objective of the report
1.3.1 Broad objective
Our broad objective is to gather knowledge about the consumer behavior and analyze the
marketing strategies of Fastrack Eye Gear. For this reason we went to every possible place to
obtain the objective.
1.3.2 Specific Objectives
To attain the broad objective following specific objectives were pursued:
To know briefly about the Fastrack Eye Gear.


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To find out the marketing strategies of Fastrack Eye Gear .
To identify the external influences that motivates the customers.
To find the internal influence that affects the Fastrack Eye Gear.
To find out the current position of Fastrack in the market.
To suggest better, effective marketing strategy for Fastrack Eye Gear

1.4 Scope
To analyze the effectiveness of customer behavior we have been given the term paper based on
Fastrack. It is a comprehensive report based on questionnaire survey, data calculation, peoples
perception, and opinion. From this analysis, we are able to know the different theory they have
used, the effective outcomes of those theory and the recommendation for further processing.

1.5 Methodology
1.5.1 Sources of Data
We collect our data from various sources that known as primary sources and secondary sources.
1.5.1.1 Primary Sources
The primary source was collected through the survey. We divided our group into some parts and
send them in various places to survey. We collected information by doing face to face
conversation with the sales persons of Fastrack in their Orchard Point Branch.
1.5.1.2 Secondary Sources
The company helped us a lot but due to their shortage of time and privacy factor, they couldnt
provide us maximum data. Therefore we selected internet as a secondary source. We took
information from books for the theoretical part, which helped us to prepare a strong


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questionnaire, which had helped us enormously to collect the information. Also we had to access
the Internet to know the company background, their services, peoples idea about Fastrack and
other related information, which helped us to prepare this report.
1.5.2 Data collection method
Here we use three methods for collecting data like questionnaire survey, interviews and
observations respectively.
1.5.2.1 Questionnaire survey
We are five members in our group. We divided our group into some parts and send them in
various places to survey. They try to complete survey apply their level best knowledge.
1.5.2.2 Interviews
For making a strong informational report we take many opinions from various people as like
interview. Especially we go to those people who are the user of sunglass they try to give
appropriate information.
1.5.2.3 Observations
We observe a lot of information by questionnaire survey and face to face interviews and other
related sources and also give much information in our report from our observations.
1.5.3 Sample and Sample size determination
This is a sample survey with a convenient sampling which is multistage stratified and clustered
area sample of the regular and occasional users. The estimates are based on a sample of only 60
people. The resulting sampling varies according to a number of factors the most important of
which is the size of the estimate. The non-sampling errors range from the respondent
misunderstanding the question to errors introduced during processing. Mechanisms to minimize
these errors are in place although the final estimates are still affected to some degree.


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1.5.4 Analysis of Information
To prepare this report, standard methods of report writing have been used. Statistical tool
through MS Excel was used to analyze the collected data. Table, Histogram, Diagram, Bar-chart
Average, weighted average were used here.
1.5.5 Presentation of Information
Collected and calculated information is presented in graphical forms. The results of this
information have been the creation of a database that enables to monitor and examine trends of
using branded or non branded sunglasses by the Bangladeshi people.

1.6 Limitations
Data accessibility is one of the concerns for this report.
Information and data regarding company is very much confidential.
Lack of knowledge of people whom we did survey.
The questionnaire pattern was not understood by many people like- Semantic Scale,
Like Art Scale. So, they did not respond properly.
Data collection process was irregular.
Our prevailing knowledge is not well enough to articulate the information.
Provision of less time is also a major factor.







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2.0 Organization
2.1 History of Titan Industries Limited
Titan is one of India's leading watch brands that brought about a paradigm shift in the Indian
watch market, offering quartz technology with international styling. The Titan portfolio owns
over 60% of the domestic market share in the organized watch market.
The brand Titan is committed to offering its consumers watches that represent the compass of
their imagination. The brand regularly introduces exciting new collections, which connect with
the various facets of deep-rooted human yearnings for self-expression. The new brand
philosophy of Titan, encapsulated in the catchphrase Be More, touches this as well as all other
aspects of the brand.
The Titan brand architecture comprises several collections and sub-brands, each of which is a
leader in own space. Notable among them are: Titan Edge - world's slimmest watch based on the
philosophy less is more, Titan Raga - feminine and sensuous accessory for today's woman,
Nebula - crafted with solid 18k gold and precious stones. Several other popular collections like
Heritage, Aviator, Automatic, Regalia, Obaku, HTSE also form a part of the Titan portfolio.
The watch division boasts of over 317 exclusive showrooms christened World of Titan', placing
the brand amongst the largest chains in its category backed by over 650 after-sales-service
centers. The division has a world-class design studio that constantly invents new trends in wrist
watches.

2.2 Mission, Vision, Goal, Strategy
In the last five years, Titan have built a business by focusing on their brands, reforming
their work, and improving their insight into the evolving needs of consumers. Their tradition of
good governance, product quality and long experience of working with communities gives them
a strong base. They are aiming to give best quality product by transparency and accountability.
This organization tries to give a fashionable lifestyle and give more variety and quality product.



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2.3 Organization Structure
In Titan all the departments have work specialization. It helps to efficient use of employee skills,
allows the use of specialized equipment and increases employees skill through repetition. They
also departmentalize their work in functional, product, geographic, process and customer.

2.4 Product Portfolio of Titan

















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2.4.1 Fastrack
Fastrack was launched in 1998 as a sub-brand of Titan. It was spun off as an independent brand
of watches targeting the urban youth in 2005. Since then, it has carved a niche for itself with
designs that were refreshingly different and affordable. During that time, Fastrack also extended
its footprint into eye gear and in the last 4 years has quickly notched up the title of being the
largest sunglass brand in the country.
Fastrack has now chartered into newer categories bags, belts, wallets and wrist bands as part
of its vision to become a complete fashion brand for the youth. With enough categories to fill up
one cool store, Fastrack has moved on to open its own stores for its young consumers. The
store is positioned as a complete accessories destination with all Fastrack gear under one roof.
The first store was opened in Pune in 2009. Fastrack plans to have 100 such stores by 2011.
2.4.2 Products of Fastrack
Fastrack Sunglass
Fastrack Watch
Fastrack Belt
Fastrack Wristband
Fastrack Wallets
Fastrack Bags
2.4.3 Collection of Fastrack Eye Gear

Beach Collection
Girls Collection


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Summer Collection

Hip Hop Collection

Army Collection

Campus Collection
Bikers Collection




Sports Collection

2.5 Future Plan of the organization
They are trying to hold their position in the market. In the future, this brand will focus on
meeting consumer preferred product and try to get more new personal product to make them
unique in the market.


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3.0 Finding and Analysis
3.1 Gender Segmentation
Most of the products are designed to target specific group of customer. In this case to
understand the sensitivity and the variation between the male and female respondents we have
divided our total sample in two groups- male and female.
From our survey we have 41 male and only 19 of female respondent. So, Fastrack should
concentrate more on the female segment.


Figure: 01
3.1.1 Marketing Strategy
As we came to know from survey that female are few in number. So, promotional strategies like
advertisement, personal selling can be based on female. First of all marketers have to identify the
female consumers likings, preference, attitude, thinking and behavior towards the Fastrack
sunglasses. Besides, Fastrack can use various sales promotion techniques which can be helpful to
grab attention from female.
male
67%
female
33%
Gender


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3.2 Age Segmentation
Age is one of the most important factors to identify the consumers behavior towards Fastrack
sunglasses.. Age carries with it culturally defined behavioral and attitudinal norms. It affects
our self-concept and lifestyles. To find out the responsiveness about the Fastrack sunglases we
asked questions to different age group of our sample to find out the variation of consumer
behavior in different age. In our questionnaire we have divided the age groups in six segments-
age 15-20, 20-30, 31-40, 41-50, 51-60, and above 60. From the survey we came to know that
the people of the age of 20-30 are maximum users of Fastrack sunglasses.


Figure: 02
3.2.1 Marketing Strategy
It is really tough to make any sustainable marketing strategies only on the basis of age group.
Although in graph it is seen that 20 to 30 aged respondents is very high. So, Fastrack can think
to target this segment. Basically, 20-30 are the young generation who has generally variety
seeking behavior. So, Fastrack can bring new features and design for this segment.
0
5
10
15
20
25
30
35
15-20 20-30 30-40 40-50 50-60
Age


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3.3 Occupation
Most of the occupation predetermines the individuals income level. Ones occupation provides
status and income. In addition, the type of work one does and the types of individuals one
works with over time also directly influence ones values, lifestyle, and all aspects of the
consumption process. In our questionnaire we have asked question to identify which
professions respondents are appropriate target customer of Fastrack.
From our survey we have found that most of the respondents are student, and private employee
are also considerable in number.

Figure: 03
3.3.1 Marketing Strategy
Marketers should concentrate more on the student as they are the largest portion of survey.
Marketing strategy can be developed to influence this group properly. Fastrack can offer
special discount for students based on purchase amount and also can promote stylish and
durable formal sunglasses at a low cost.
Private emp
12%
Govt. emp
2%
Student
76%
Businessman
5%
Others
5%
Occupation based catagory


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3.4 Education
Education has a strong influence on ones tastes and preferences. It also influences how one
thinks, makes decisions, and relates to others. However, education seldom provides a complete
explanation for consumption patterns. Those with a limited education are generally at
disadvantage not only in earning money but in spending it wisely.
From our survey we have found 35 Graduate people and 13 people have Higher Secondary
Degree (HSC). Again it can be noted that without education, individuals generally forced into
minimum wage and fall into poverty level.


Figure: 04
3.4.1 Marketing Strategy
Graduate people are those who generally search for job or employed into organizations. So,
Fastrack can customize their existing product by improving style, quality and can give
emphasis on formal shoes as it is required by most of the companies. Fastrack can also cut
down price for attracting other segments.
Masters/MBA
7%
Graduate
58%
HSC/A level
22%
SSC/O level
8%
Others
5%
Education level based catagory


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3.5 Behavioral Segmentation
The market consists of many types of customers, products, and needs. Companies are wise to
focus their efforts on meeting the distinct needs of individual market segments. Market can be
segmented into groups of non-users, ex-users, potential users, first time users, and regular user
of a product, branded users and non-brand users.
From our survey of 60 people, we have seen that all our respondents prefer branded sunglasses.


Figure: 05
3.5.1 Marketing Strategy
As most of the customer of the Dhaka city use branded sunglasses and only few are not, so
Fastrack can pay high attention on this segment. They have to influence this segment to
motivate people by using operant conditioning (give discounts, coupon for purchasing first time
which can be used for second time purchase and then purchase at a full price). Besides,
Fastrack can offer membership card to retain customers for longer period.

0
0.2
0.4
0.6
0.8
1
Branded
Non branded
Use of Brand


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3.6 Personality
Personality is the totality of the individuals thought having reference to him as an object. This
analysis shows that the personal characteristics of those people who take part in the survey.

Figure: 06
From the table we can see that people stand on average. They tend to be more delicate,
excitable, informal, and contemporary and so on. So, Fastrack have to give persuasive
advertisement by highlighting all the features. Than people has to be more influenced to be
more youthful, colorful, excitable etc.
Again, Fastrack can distribute pictorial outlet among university students, employer to influence
and build actual memory which can help anyone to retrieve information during purchase. It can
help to formal and contemporariness.


3.38
3.05
3.08
2.60
2.95
3.13
2.75
2.62
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
Personality


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3.7 Preferred Brand
This is the most crucial part of the surveyed questions. If Fastrack get to know about the current
preference of sunglass brands of the customers then it might set new strategies.
From pie chart and frequency table we can see that 47% of the respondents prefer Ray-Ban brand
which is the highest. However, the numbers of people who prefer Fastrack sunglasses are also
significant in number. There are also other people who prefer brands like Armani, Gucci, Adidas.
Table-I
Frequency Distribution Table
Consumer Usage of Sunglass Brand`s
Brands Absolute
Frequency
Relative
frequency
(%)
Cumulative
Frequency
Cumulative
relative
frequency
Ray Ban 28 47 28 47
Fastrack 11 18 39 65
Gucci 9 15 48 80
Adidas 5 8 53 88
Non Brand 4 7 57 95
Armani 2 3 59 98
Others 1 2 60 100
Vercase 0 0 60 0
Prada 0 0 60 0
Total 60 100%
60 100
Source: From Primary Data Source


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Figure: 07
3.7.1 Marketing Strategy
There are many consumers who do not prefer Fastrack sunglasses. So the company should look
into the matter and they must convince consumers to switch to Fastrack. For this reason, Fastrack
will have to provide superior quality at a reduced price. The promotional strategies should be
designed in such a way that can attract the customers from other brands.

3.8 Influence towards purchasing sunglasses
Purchase decision is highly influenced by the external factors. A purchase decision may be
positivly or negativly influenced by the friends, family, peer group etc. Here we tried to find out
which factor influence a consumer to buy the sunglass.
From our survey we have seen that television commercials highly influence consumers to
purchase sunglasses. So Fastrack should use renowned local and international celebrities in their
advertisements so that it can grab more market share.

Fast Track
18%
Adidas
8%
Gucci
15%
Armani
3%
Prada
0%
Ray-ban
47%
Versace
0%
Non-branded
7%
Others
2%
Preferred Brand


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Figure: 08
3.8.1 Marketing Strategy
We know people want more freedom in everything in the way of their life. From our survey we
came to know that majority of the respondent are self motivated and ambiguous and they hear
only themselves. So in promotional activities Fastrack should focus on freedom in their
advertisement. It can also target customer by deigning totally separate advertisement based on
the respondents who are influenced by friends. Bangladeshi people follow the cultural belief of
connectedness, so Fastrack can highlight the tie with friends and colleagues to influence
consumers to buy Fastrack sunglasses.

3.9 Learning
Learning is acquiring new knowledge, behaviors, skills, values, or preferences and may involve
synthesizing different types of information. The ability to learn is possessed by humans, animals
and some machines. Human learning may occur as part of education, personal development, or
training. It may be goal-oriented and may be aided by motivation. Learning may occur as a result
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Influece towards purchasing sunglass


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UCS (Popular Actor)

CS (Fastrack Sunglass)

UCR (Positive Emotion)

CR (Positive emotion)

of habituation or classical conditioning, seen in many animal species, or as a result of more
complex activities such as play. Learning may occur consciously or without conscious
awareness.

3.10 Classical conditioning
Using an established relationship between a stimulus and response to make another new
relationship between a stimuli and another response. E.g.: Using celebrity in advertisement.






UCS= Unconditioned stimulus
CS = Conditioned stimulus
UCR= Unconditioned response
CR= Conditioned response
After seeing a commercial what is learned is generally not information but emotion or an
effective response. If and when this affective response leads to learning about the product or
leads to a product trial, we have this situation.




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Information
Trial
Advertising

Liking




In the showroom of Fastrack, different models photo and sometimes music is played, so that
people may like their product as they like the model or the music.

3.11 Operant Conditioning
Operant conditioning is the use of a behavior's antecedent and/or its consequence to influence the
occurrence and form of behavior. Reinforcement is very important in operant conditioning.
Positive reinforcement occurs when a behavior (response) is followed by a stimulus that is
appetitive or rewarding, increasing the frequency of that behavior.






Fastrack is committed to provide superior quality to the customer so that people may choose
their product in the next time. The comfort, style, durability are the positive reinforcement for the
customer to purchase Fastrack in the next time. The most common application of operant
conditioning is to offer quality products so that the use of product to meet a consumer need is
reinforcement.

Stimulus
(Fastrack)
Desired Response
(Consumption)
Reinforcement
(Satisfaction)
Increases Probability of
Response to Stimulus


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3.12 Cognitive Learning
Cognitive learning is defined as the acquisition of knowledge and skill by mental or cognitive
processes. The procedures we have for manipulating information 'in our heads'. Cognitive
processes include creating mental representations of physical objects and events, and other forms
of information processing. Fastrack produces different styled sunglass at different prices so that
people may compare and manipulate information to purchase the right sunglass for them.
There are three types of cognitive learning important for marketers:
3.12.1 Iconic Rote learning
It is the association between two or more concepts in the absence of conditioning. When people
see John Abraham wearing Fastrack sunglass and riding bike with high speed in the
advertisement, they may associate Fastrack sunglass with fun, speed and youthfulness.
3.12.2 Vicarious Modeling
Behaviors are learned by watching the outcomes of others behaviors or by imagining the
outcome of potential behavior. When a person sees his friends wearing First sunglass, then he
also wants to wear Fastrack sunglass. Friends may go to Fastrack showroom together and
purchase sunglass for themselves.
3.12.3 Reasoning
Individuals engage in new thinking to restructure and recombine existing information as well as
new information to form new association and concept. As people know that Fastrack provide
new designed sunglass every year, so they go to shop before any festival.






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3.13 Memory
Memory is the total accumulation of prior learning experience. It consists of two inter related
components:
Short Term Memory
Long Term Memory

3.13.1 Short Term Memory
Short-term memory (or "primary" or "active memory") is the capacity for holding a small
amount of information in mind in an active, readily available state for a short period of time. The
duration of short-term memory (when rehearsal or active maintenance is prevented) is believed
to be in the order of seconds. If maintenance rehearsal is active then this duration may increase.
3.13.1.1 Marketing Strategy
Fastrack uses billboard, newspaper advertisement, magazine advertisements to keep it in the
mind of the customers short term memory. They have different posters in the showroom telling
good things about their product which will influence the customers short term memory. So that
customer purchases the product.

3.13.2 Long Term Memory
3.13.2.1 Semantic Memory
Semantic memory is basic knowledge or feeling about a concept. That means understanding an
object or event at its simplest level. The brand name itself keeps an impression in the mind of its
customers which reflects the features for which that particular brand is embraced. People
purchase Fastrack sunglass as they have good feelings about the product.


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Figure: 09
The brand name itself keeps an impression in the mind of its customers which reflects the
features for which that particular brand is embraced. We have surveyed and find out what is the
feature that most of the consumers relate with the brand Fastrack.
Here it is clearly seen that the word Fashionable comes first on the mind of 37% of
consumers whereas 22% respondents relate Fastrack with comfort and 17% relate the product
with expensive. From that, it is clearly identified that Fastrack is desirable for its fashionable
image and comfort.






0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4


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3.14 Schema for Fastrack Sunglass
.

3.15 Attitude Components
Attitude is an enduring organization of motivational, emotional, perceptual and cognitive process
with respect to some aspect of our environment.

3.16 Cognitive Component
From the report we have seen that young people are the main target customer of Fastrack.
Cognitive component is based on someones belief about an object. Peoples attitude towards
Fastrack is not very good. It happens because so far customers are not so familiar with the name
of the sunglass. To measure cognitive component we have asked some question to the customer
to place their belief about their favorite brand on 5 point semantic scale.
Fastrack
Sunglass
Expensive Fashionable Quality
Durable Status Trendy
Brand image Posh Youth


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For comparison we have surveyed at three different categories- Fastrack sunglass, Armani
sunglass and Ideal Brand sunglass. We have followed simple average method for the
respondents belief towards Fastrack sunglass, Armani sunglass and Ideal Brand sunglass. We
have made average of every factor and given weight on these factors to calculate weighted
average of every factor and showed these result in table given bellow. It is believed that Fastrack
is inclusive commodity product which is priced moderate to high. Therefore it is for the middle
class and upper-middle class people.
Table-II
Comparison between Fastrack and Armani
Fastrack Sunglass
Cost Quality Durability Stylish Status
Sum 220 195 208 205 181
Average 3.67 3.25 3.47 3.42 3.02

Armani Sunglass
Cost Quality Durability Stylish Status
Sum 253 237 247 215 209
Average 4.22 3.95 4.12 3.58 3.48

Cost:
In terms of cost to purchase, the survey shows that Fastrack (3.67) is in a good condition
compared to Armani (4.22). The average result reveals that Armani is a bit overpriced (4.22)
compared to Fastrack. So this is the plus point for Fastrack and they have to retain this position.



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Quality:
The survey results show that the quality of Fastrack (3.25) is lower than that of Armani (3.95). J.
Higher quality is necessary to make people feel comfortable where Fastrack is lagging behind.
Fastrack has to work hard on this factor.
Durability:
Fastrack is not holding a better condition for durability. Customers think that durability of
Fastrack (3.47) is not better than Armani (4.12). Again in this case durability of Fastrack is 0.65
less than its closest competitor Armani.
Stylish:
Regarding style, the position of Fastrack (3.42) is not good compared to Armani (3.58). We see
the difference between Fastrack and Armani is 0.16 that means customers acknowledge that the
style of Fastrack is not better than Armani.
Status:
From the survey, it is seen that Fastrack (3.02) is not in a good position compared to Armani
(3.48) regarding status matter. One important thing is that though both the brands are standing in
neutral position but again status of Fastrack is not better than Armani. Here one thing is that
status is a latent construct, thus measurement of status relating sunglass is a difficult task. It has
to be investigated further, whether customers gave this opinion emotionally or rationally.
Table-III
Comparison between Fastrack and Ideal Brand Sunglass
Fastrack Sunglass
Cost Quality Durability Stylish Status
Sum 220 195 208 205 181
Average 3.67 3.25 3.47 3.42 3.02


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Ideal Brand Sunglass
Cost Quality Durability Stylish Status
Sum 192 251 254 251 240
Average 3.20 4.18 4.23 4.18 4
Cost:
When the cost of Fastrack is compared to the Ideal brand, the average users rated it 3.67 where
the cost of ideal sunglass is rated 3.20. The spread is 0.28. This is may be because high cost
refers high status.
Quality:
While comparing Fastrack (3.25) with Ideal brand of sunglass (4.18) we see the difference is
0.93. Quality of Fastrack is far lower than the Ideal brand of sunglass. So Fastrack has to
improve its p quality significantly.
Durability:
The durability of Fastrack is marked 3.47 where as the ideal brand is 4.23. Here the difference is
0.76. Again this is little difference. Perhaps the customers of sunglass want high quality and
durability.
Stylish:
The style and design of Fastrack is averaged 3.42 and the Ideal brand is averaged 4.18. The
difference is 0.76. People who have even little concern about style and design would always
want to have more stylish sunglass.



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Status:
On the factor of status the position of Fastrack (3.02) is not much lower than the Ideal sunglass
(3.48). As because Fastrack is moderately priced and consumed by the middle and upper-middle
class people (not upper/prime class), generally Fastrack is considered to have less status
compared to other prime sunglass brands available in the country.

3.16.1 Change the Cognitive Component
Fastrack has to focus on the cognitive component to change the peoples attitude for its long run
well being. It can use four basic strategies of cognitive component to transform the consumers
attitude. Fastrack can change consumer beliefs so that the consumer will like the product and for
this they will definitely go for buying Fastrack sunglass. We have decided that we are going to
take some strategies to shape consumer behavior towards our product.
3.16.1.1 Change Belief
The report revealed that respondents believe that quality, durability, style and status of Fastrack
are not up to the mark. Also they believe that the price should be increased. Therefore Fastrack
should set strategies to improve quality, durability, style and status. Also it should charge
competitive pricing strategy.
3.16.1.2 Shift Importance
Marketers may try to convince consumers the attributes on which their brand are relatively
strong are the most important. Fastrack differentiates its product from its competitors by offering
quality product at relatively low cost.




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3.16.1.3 Add Beliefs
Maximum respondents believe that Fastrack is for the middle class and upper-middle class
people, so Fastrack has to add belief that its not only for the middle and upper-middle class
people but it can be used by people of all class.

3.17 Affective Component
Affective components is feelings or emotional reactions to an object. The overall evaluation may
be simply a vague, general feeling developed without cognititive information or beliefs about the
products.
Table-IV
Satisfaction level
Fastrack is over
priced
I am satisfied with the
durability of Fastrack
Fastrack is
fashionable
I like
Fastrack
3.47 3.14 3.02 3.27
In our queries, we asked to mark their level of agreement with the above stated three statements.
To better understand the finding we classified the level of agreement in five categories by
assigning rank to them: Strongly Disagree (1), Disagree (2), Neutral (3), Agree (4) and Strongly
Agree (5).
One notable thing of the survey report is that the customers agree with the statement that I like
Fastrack (3.27). Average number of customers says that they are satisfied with the durability of
Fastrack (3.14) which is not very satisfactory for Fastrack. Again, average customers say that
Fastrack is overpriced (3.47); the agreeableness is not very satisfactory for Fastrack. It means
that Fastrack has some factors to consider improving the level of liking by the customers.
Fastrack is overpriced (3.47); this refers that the price of Fastrack is neither high nor low. This is
low enough to afford and at the same time high enough to maintain a status.


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3.17.1 Marketing Strategy
As the consumer are standing in the middle position regarding two factors: I am satisfied with
the durability of Fastrack and I like Fastrack. This clearly indicates that improving quality
and durability of Fastrack may influence people to like Fastrack. Also, Fastrack should be more
antagonistic towards its advertising startegies to promote to the target customers. For this they
have to go for extensive advertisement. They should promote the brand using mass media,
billboard, ads in brochure, event sponsorship which will play a significant role to mass customer
awareness. Quality, style are important factor for Fastrack. So Fastrack must work for quality
and style. Price is a crucial factor for the consumers and Fastrack has to consider it carefully.
Still it can arrange discount, price cut and sale off.

3.17.2 Change the Affective Component
Fastrack has to change its feeling or emotion towards its product. As we know affective
component changes as the situation changes, Fastrack can use 3 strategies for changing affective
components to change the peoples affection directly through- Classical conditioning, Affect
toward the ad or website and Mere exposure.
3.17.2.1Classical Conditioning
This strategy is described in learning part earlier.
3.17.2.2 Affect toward the Ad/Website
Fastrack should launch new advertisement with opinion leader to attract new customer by using
positive impression of celebrity. As there is a direct relationship with promotional activities and
sell amount, marketers should more focus on this. Moreover, Fastrack has a website. But it does
not include attractive, informative and updated information about its product. Therefore it should
be updated with new information and placed web link in different other busy website.


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3.17.2.3 Mere Exposure
By nature, Fastrack sunglass is a medium involvement product. To build the likings we need to
adopt various strategies so that people get much information on ads, like it and buy it. Fastrack
can give advertisement in magazines and billboards that will be very much effective. Billboard
ads in the busy traffic hubs of the cities will play significant role to attract customers attention
towards Fastrack. If Fastrack uses different communication media at times and continues ads for
longer period of time, customers will see the ads everywhere on their way, it will create long
term impact on customers mind.
3.18 Behavioral Component
A series of decision to purchase or not to purchase a product or to recommend it or other brands
to friends refelect the behavioral component of an attitude. Measuring actions or intended actions
are compared with other brands below:

Figure: 10

Armani
28%
Ray-Ban
32%
Addidas
3%
Non Brand
15%
Fastrack
2%
Gucci
17%
Versace
3%
Prada
0%
Last Time Used Brand


31
The survey reveals that 32% customers purchased sunglass of Ray-Ban last time whereas 28% of
them opted for Armani which is a premium brand in Bangladesh. Only 2% of respondents used
sunglass of Fastrack last time. So we see the there is a good variety among respondents.

Figure: 11
From the survey we see that 32% usually purchase sunglass of Gucci brand. Then Armani has a
very good number of loyal customers with 25% who are mainly young students in colleges and
universities. Ray-Ban has customers 27% followed by 7% for Versace. Prada, Adidas and
Fastrack share a little percentage here. So, Fastrack is not in a privileged position here.
3.18.1 Marketing Strategy
Though there is some pessimistic news for Fastrack, they have to prepare themselves
accordingly. The findings show that a large block of customers are loyal to Armani and Ray-
Ban. So, Fastrack must think about it.
Also, Adidas and Versace have noticeable demand to the customers. Fastrack needs to snatch out
some customers from them to increase market share. To do so Fastrack will have to give more
Ray-Ban
27%
Gucci
32%
Fastrack
3%
Armani
25%
Addidas
3%
Non Brand
1% Prada
2%
Versace
7%
Regular Brand


32
ads to make customers aware of their product. Only promotional activities are not enough to
attract customers, it is also important to work hard to improve the quality and durability.
Will you purchase Fastrack sunglass in future?

Figure: 12
According to the report 37% of respondents said that they probably will purchase the sunglass of
Fastrack brand and 15% said that they will definitely buy it. 30% might or might buy the
product. Another 10% said that they will not buy Fastrack sunglass.
3.18.2 Change the Behavioral Component
Purchase in many case may take place even customers are not aware of the brand properly. As
sunglass is not an exclusive product, purchasing it does not require much attention which may
also include brand of the product. Fastrack may advertise it extensively targeting different
sections of people as we have classified before according to various attributes.
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
Probability of buying Fastrack


33
After the purchase is made and customers start using it and if the consumers find Fastrack
sunglass as per their expectation they might be feeling good about it. Then they may start
beleiving it that Fastrack sunglass is really good. So the main challenge for them is to make a
purchase happen even though customers were not prepared for it.
As by default, Fastrack is such a product that cant be tested before purchase, operant
conditioning will not be effective here.
3.19 Perceptual Mapping
Perceptual mapping offers marketing manager a useful technique to measuring & developing a
products position. It takes customers perception of similar various sunglass brands and relates
this perception to product attributes.
Table-V
Perceptual Mapping
Fastrack Ray-Ban Armani Gucci Versace
Cost Quality Cost Quality Cost Quality Cost Quality Cost Quality
3.57 3.25 4.27 4.43 4.73 4.81 4.15 4.03 4.13 3.98










34




















High Cost
Low Cost
High Quality Low Quality
Armani
Ray-Ban

Fastrack
Gucci
Non-Brand
Versace


35
4.0 Conclusions and Recommendations
4.1 Conclusion
Fastrack is one of the unparalleled names in sunglass world with unbeatable style and quality.
Fastrack is one of its leading brands targeting the middle and upper class people. Its target
customers are generally young & middle aged people who lead a pretty fashionable life style. If
the important features of Fastrack like quality, durability, status can be improved maintaining a
moderate price, then Fastrack can surely expand its opportunity towards a larger market. Also it
can beat its competitor like Armani, Ray-Ban, Gucci, Prada, Versace and so on and obtain the
status to be the ideal product.












36
4.2 Recommendations
We have analyzaed our term paper inch and out very carefully to identify the which marketing
strategy should be undertaken in order to increase sales of Fastrack sunglass.Here are some
recommendations that Fastrack can adopt to grab more market share.
4.2.1 More Advertising
In terms of the promotional activities Fastrack sunglass is far behind than that of the other
contemporary sunglass companies. The result is people are less aware of Fastrack sunglasses.
4.2.2 Other promotional activities
Besides advertising, Fastrack than use other promotion activities such as:
Sponsorship: Sponsoring many different events like any type of games, concert in
different occasion like Pohela Boishakh, Eid etc creates a positive impression regarding a
company. Fastrack can take this type of strategy.
Trade show: Arranging trade shows in different times of the year are also helpful to
make a company more popular on customers mind. Therefore Fastrack can arrange trade
show.
Social welfare: People feel positive about those companies that show more corporate
social responsibility. Fastrack can take this strategy like tree plantation, helping the
vulnerable, etc.
Trade allowance: People inside a company are as important as outsider of the company.
So giving some incentives to insiders, such as giving trade allowance in different
occasions will make them interested to influence customers and also take part in
company decision making in which company can earn more profits
4.2.3 Relating with low Income Group
They should start promotional campaign relating with low income group so that these people
feel that Fastrack sunglass has been developed only for them.


37
Appended Parts

Bibliography
Books
Consumer Behavior, Del I Hawkins, Rojer J. Best, Kenneth A. Coney, Ninth
Edition.
Principles of Marketing, Philip Kotler, Gray Armstrong, Eleventh Edition.
Marketing Management, Philip Kotler, Millennium Edition.
BUSINESS COMMUNICATION Theory and Application, Raymond
V.Lesikar, Ph.D.
Website
http://fastrack.in/getbagged/
www.wikipedia.com
Consumer survey
We collect information on the survey of 60 people, on the basic of our survey
questioner.