Project report

On

Fastrack watches

Submitted in partial fulfillment of the Requirement of M.B.A Programme

PREPARED BY: ANSHUL JAIN SEC-A (BHU, S-11)

SUBMITTEDTO: PROF.SHOBHA DEVI

M.B.A (2 SEMESTER).2012
nd

APRIL/MAY-2012

INDEX

Sr.no Chapt-1

Particular A Study Of Consumer Behavior In Bangalore City

Page NO

Chapt-2

Introduction
Company profile Product profile Organization structure

Chapt-3

Theoretical background
Definition of marketing Meaning of marketing Meaning of market share Process of research
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Chapt-4

Research methodology
Study of objective Collection of data -primary source -secondary source

Chapt-5

Analysis and interpretation of data

Chapt-6

Conclusition and suggestion

Chapt-7

Bibliography AND Questionnaires

fastrack
The study of consumer behavior provides us with reasons why consumers differ from one another in buying using products and services. We receive stimuli from the environment and the specifics of the marketing strategies of different products and services.

FASTRACK
Titan Industries is making itself fashionably stronger by expanding its category
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offerings and by launching new brands. The company recently increased its personal accessories space with a countrywide launch of its eyewear brand. Fastrack to strengthen its time wear segment, a move defined necessary to take Titan ahead from mere need-based to a fashion-determined accessory brand. Started in 1999-2000 by marketing under the Fastrack brand targeted the youth segment. With Age group of 14-35 yr. (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.

ADVERTISING

STRATEGY

The whole advertising is covered by media such as Hoarding, POP, Television Ads, Newspaper, and Magazines. As the advertising campaigned is carried on through different manners the young generation is attracted toward the brand. The key role is being done by Television Advertisement. There is no brand ambassador for fastrack watches

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ORGANISATION STRUCTURE

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Theoritical background

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DEFINITION OF MARKETING

Modern Definition: Marketing is an organizational

function and a set of processes for creating, communicating & delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

MEANING OF MARKETING

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MEANING OF MARKET SHARE

The percentage of an industry or market's total sales that is earned by a particular company over a specified time period. Market share is calculated by taking the company's sales over the period and dividing it by the total sales of the industry over the same period. This metric is used to give a general idea of the size of a company to its market and its competitors.

PROCESS OF RESEARCH
Basics of Doing Research
The steps below provide a simple and effective approach for conducting research for a paper, presentation, or other project that requires you to locate information about a topic. Depending on your topic and your familiarity with library research, you may need to rearrange or recycle these steps. Adapt this outline to your needs:
Step 1 - Choose your topic. Step 2 - Find basic information. Step 3 - Refine your topic. Step 4 - Locate and retrieve materials. Step 5 - Evaluate relevancies of materials. Step 6 - Take notes.

Titan Fastrack Marketing Strategy TITAN

Titan is the worlds sixth largest, integrated manufacturer brand for watches.Commencing production in 1986-87, the Company is today the leader in the Watch & Jewellery businesses in India First & largest player in the branded jewellery segment (Tanishq) >60% share of the organised watch market Over 75 million watches sold across 30 countries, cumulatively Four Manufacturing Facilities Watch & Jewellery plants in Hosur near Bangalore .

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Research
methodology
Research methodology
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Launch and Initial Positioning

Titan recognized a need in the market a reasonably priced watch for the youth between the age group of 15 25 years. Fastrack was launched in the year 1998 as a sub-brand of Titan, with a range of digital watches starting from Rs. 795. The brand was aimed at the youth segment (15-25 years).Fastrack entered the market saturated with International designer labels like Citizen, Seiko, Swatch, Casio and Timex but managed to carve a nichefor itself in the youth accessories market, with designs that are refreshingly different, group which consisted of college students could not afford this brand.
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Subsequent Repositioning
During 2003-04, the brand went in for a repositioning exercise targeting the executive segment as well as the casual watch segment. It was a suicidal experiment. The brand sales came down to Rs 23 crore. The change in positioning did not fit well with the brand. The steely look of the watches emphasized that it was sturdy and longlasting. Fastrack was constantly refreshing the designs, but the sales were stagnant. The trouble lay with the price; the consumers were not willing to pay Rs 1200 2700 for a watch that did not have the executive image. By doing so, Fastrack was able to reduce the starting price to Rs 500 and was available in a price range of Rs. 500 Rs. 2000.

Current Status
At present, Fastrack, keeping in mind that it wants to be the ultimate fashion accessory for the youth has adopted the following core brand values:Fashionable and trendy Affordable Pricing Fresh Communication to attract the young consumers Fastrack has been maintaining this image by continuously maintaining freshness in its communication. Most of the Fastrack ads have been refreshing. The adaptation of the 360 degree approach in its communication and the use of social media have helped it become the ultimate fashion accessory of the youth.
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METHODS OF DATA COLLECTION

Data was collected from the customers with the help of questionnaire

DATA ANALYSIS METHOD

The Data was collected from the main study and was analyzed using Based on the results conclusion were drawn and suggestions were made No of users of Fastrack watches (Sample Size-50)

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Analysis and interpret-ation

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market research in Bangalore

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The

watch

market

&

industry

in

India

- India is an under-penetrated market for watches only 27 % of Indians own a watch - Total estimated market as of 2006 Volume ~ 36 mn units & Value: Rs 2400 Crores (USD 533 Mn) - Vast proportion of the Indian market is below Rs 500 ~ 68% (85% by volume)Market has been split into: Low end, Mass market, Mid market, Premium

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TABLE SHOWING THE SATISFACATION LEVEL OF FASTRACK

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Conclusion:

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Conclusion:
Fastrack watches are leading in watch industry overall. 300 design watches are selling in the world. The Brand aim is Youth segment 15-20 years. During the first year the brand turnover is 15 crore. No brand ambassador for this product only through television. No of users in the world men -53% and women-47%. Highly satisfied users are 41%. And satisfied -47% and dissatisfied users are 12% only. The starting prices of watches are from R.s 500 to 2000

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Questionaris bibliography

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