Product marketing mix

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INDIAN WATCH INDUSTRY
Wrist Watches form an integral part of the personality of individuals in the present era.
Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item.
Indian watches market was for long dominated by public sector organizations like Hindustan Machine Tools Ltd.
In post liberalization India, the market stood to witness
intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Frederique Constant, Mont Blanc, Swatch, and many others.
Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves, currently.
Besides this, buyers are extremely choosy about the brand and type of wrist watches they wear.
Being extremely brand conscious, their tastes have evolved over the years and have gone beyond the realms of durability to choose in terms of aesthetics and elegance.
Thus it is a buyer’s market with multitude of designs that have entered and flooded the market place.
The size of the watch market in India currently is estimated to be around 40 to 45 million pieces annually.
The organized sector alone contributes up to 30 % & the other 70 % is contributed by the unorganized grey sector.
In dollar terms, the estimated annual market size is around USD 195 million, despite the fact that the penetration
of watches is the lowest, compared globally.
The average growth in the size of the market is slated to be around 10 -15 percent per year.



TITAN INDUSTRY
Titan Industries is the world's fifth largest and India's leading manufacturer of watches.
The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.
The umbrella brand 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 brand Titan is committed to offering its consumers watches that represent the compass of their imagination.
Titan's customers are therefore consistently introduced to exciting new collections, which connect, with various facets of their deep−rooted yearnings for self-expression.
The new brand philosophy of Titan, encapsulated in the words "Be More", touches this as well as all other aspects of
The brand.
The Titan brand architecture comprises several collection and sub−brands, each of which is a leader in its segment.
Notable among them are:
• Titan EDGE
• Titan Raga
• Titan Nebula
• Titan Heritage
• Titan Regalia
• Titan Octane
• Titan WWF
• Titan Fastrack
Titan SonataToday, the Titan portfolio has over 60% of the domestic market share in the organized watch market.
The company has 24X7 exclusive showrooms christened
World of Titan', making it amongst the largest chains in its category backed by 700 after−sales−service centres.
The company has a world−class design studio that
Constantly invents new trends in wrist watches.


Background Of Fastrack
Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market.
When that JV broke off in 1997 and Timex went independent,
there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering.
Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack
Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong.
They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong.
When they launched, they targeted predominantly the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.

Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market. When that JV broke off in 1997 and Timex went independent, there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering. Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack. Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong. They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong. When they launched, they targeted predominantly11 the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.


Re-launch Of Fastrack
They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check.
Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience.
But what was happening was the collection in terms of looks, price point and consumer buying behaviour was very similar to Fastrack, including advertising.
The parent brand needed to continue in its endeavour to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range.
Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance.
However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo.
They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005.
The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously.
Next year, they recorded another 100 per cent growth.

They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check. Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience. But what was happening was the collection in terms of looks, price point and consumer buying behavior was very similar to Fastrack, including advertising. The parent brand needed to continue in its endeavor to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range. Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance. However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo. They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005. The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously. Next year, they recorded another 100 per cent growth.
When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years. Fastrack has a presence in over
6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multi-channel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch & optical outlets. Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success. It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too. With this, it now has enough categories to open a fashion accessories store – and that’s just what

When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years.
Fastrack has a presence in over 6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multichannel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi brand watch & optical outlets.

Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success.
It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too.
With this, it now has enough categories to open a fashion accessories store – and that’s just what they’ve done!








FEATURES
Fastrack then promoted itself through a 360-degree media blitz through television, outdoor, events and promotions to change the perception of watches as a functional tool to a fashion accessory Fastrack captured the essence of today’s fun loving, free spirited youth through the new positioning in a tongue in cheek colloquial phrase - “How many you have.’’

.Fastrack 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
-Young & Energetic
-Quirky
-Open to experiment
-Want recognition
-Rebellious trendy
- Fashionable
-Brand conscious.











UNIQUE SELLING PROPORTION


Variety of collections of Fastrack watches specifically targeted to men and women. Each product is includes a different set of features to meet the need of specific custom.

• Good Distribution Network – over 100 Fast track stores across 50 towns with Titan Service Centers across India
• High youth connect – Positioning as a youth stylish brand
• Fast changing designs to keep up with latest trends
• One of the most trusted brands in India
• Excellent advertising and brand visibility connecting with the youth
• Has a diverse portfolio of watches, sunglasses, bags, wallets etc


COMPETITORS
Major Players in Market Other than Titan/Fastrack General Indian Competitors of Fastrack
• HMT
• Timex
• Timex
• Maxima
• Casio Foreign
• Swatch
• Cartier
• Omega
• Piaget
• Gucci
• Casio
• Citizen
• Tag Heuer
• Espirit
Competitor 1:
Timex
• Largest selling brand in USA and Canada
• Lowest cost watch manufacturer of 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
Competitor 2:
Casio
• Japan based company
• Products include calculators and musical instruments
• Market leader in calculators with 90% market share, strong presence in digital watch market
• Recent positioning focuses on low end watches
Competitor 3:
Swatch
• Swiss brand launched in 1983
• High brand equity because of the Swiss heritage
• High tech, highly accurate and a high prestige value attached to the brand
• Official time-keepers for many high profile events including Olympics
• Recently started focusing on the upwardly mobile youth segment.








4 P’s of Fastrack

Product
QUALITY
:Fastrack is sub brand of Titan and Titan is well known for itsquality. Even though Fastrack is brand created targetingmedium range and low range segment, high quality isprovided to customers.
FEATURES:
Fastrack is well known for its features, it has come up withseveral variants and features which suits the choices andtastes of different consumers.

PRODUCT VARIETY ( DESIGN AND STYLE) :
Fastrack is specially designed for youth. Its design and styleand variants are the key to the success of the brand. Theseveral variants they have come up with are
Sport ,Army, Adventure, Bikers ,Color, play ,Hiphop Neon, Neon – disc xy.




PACKAGING :
Fastrack has came up with new and contemporary packagingfor its watches which attracts youth.

SERVICES & WARRANTY :
Fastrack provides warranty of one year on all its watchrange. After sales services are available on all Fastrack andTitan showrooms.

Product Life cycle
Fastrack is in growth stage now as it is marking rapid climbin sales.
Early adaptors like the product and the additionalcustomers start buying the product. The companycontinuously coming up with new features and variantskeeping the brand moving forward satisfying tastes andneeds of different customers
Levels Of Product :Core product :
Satisfying purpose of keeping track on timeActual product : Fastrack watchExpected product : Product with brand value and imageAugmented product Warranty, after sales service, design ,packaging.








Promotion
TVC :
Most of the Fastrack TVC advertisements were dominatedby youth and youth representing brand ambassadors likeJohn Abraham, Genelia and Virat Kohli.Some of the popular Fastrack advertisements arediscussed below:Yes Sir Ad :
• A teacher was taking attendance.
• A boy responses his roll by raising his hand.
• Girls get obsessed by looking at the watch worn by thatboy Which has the message that this watch on your wristmakes you more stylish?




Creative Advertising :
From Titan Fastrack where fashionable jeweller was a gift onpurchase of any Fastrack watch. This jewellery set of apendant and earrings is contemporary and unique in formand material, with steel and acrylic being used together forstunning effect. This was launched for Valentine’s Day wherethe name scheme, The watch being advertised for (Fasttrack) as it pertains to the youth, jewellery (for the youth),valentine’s day (more so for the youth) and adding to theexcitement is a limited edition FASTRACK VALENTINESCOLLECTION that is being made available in four designs.Only 300 watches of each design will be on sale across citiesduring this fortnight.

These watches are designed is steel with leather straps inthe colours of the season – black, red and silver. The dialsare in matched colours with heart patterns, making thecollection a true blend of fashion and romance. "Youngcouples are looking for new ways to discover theirrelationships and this set of special watches and matchingjewellery from Fastrack, gives them just the reason to do so.The promotion was in Mumbai, Delhi, Pune and Bangalorefrom Feb 1–14.

POSTER AD :


FASTRACK WEBSITE PROMOTION :
Fastrack website is the tool they used to attract the youth,the pictures displayed on the website creates curiosity andinterest towards the product.

SALES PROMOTION :
Fastrack always come up with sales promotion duringfestival seasons and special locations. They provide 20% -40% discounts on all its watch ranges.



BRAND AMBASSADOR :
Brand Ambassadors for the Fastrack watch are Virat Kohli,Genelia D’ Souza, John Ambassador to appeal to youth.


OUTDOOR ADVERTISING :
The billboard advertising is very popularhowever has to be really terse and catchy inorder to grab the attention of the passers by.Fastrack billboards can be found put up all overDelhi especially at places like the north campusuniversity area on the main road which thecompany knows that it is a youth centric areaand since that is their target segment it puts upthere. The brand also does trade shows duringthe festival area which a key rule to theirpromotional strategy through which hey engagethe youth and make them aware of the brand.

PUBLIC RELATIONS :
Fastrack one of the few companies in Indiato take the lead on embracing PR 2.0.Fastrack has come out with the Fastracksocial media news room for bloggers.They are using the newsroom to shareinformation and news on Fastrack. It alsofeatures social media press releases (Bikersand Neon Disk), Flicker streams of Fastrackgears, social bookmarkingbuttons, videos, media coverage, productand company information, spokespersonprofile, RSS feeds, and more.
70. For the consumers, Fastrack has launched two Facebookgroups called Life on Fastrack and Bikers on the Fastrack,which have 121 and 71 members already, as on yesterday.The groups have attracted so many people in such a shorttime.Fastrack main site – not the usual corporate stiffness but anattractive and very consumer oriented featuring contests,fun stuff, opinion polls among others. They plan to follow upwith a Twitter part as well.
It has launched MyExBox, an online campaign where userscan post videos that communicate. The month long onlinecampaign is based on the Fastrack’s theme ‘Move On’ andencourages users to vent the reasons why they had to dumpsomeone or something and move on. According to thecompany, the most viewed video of the week wins FastrackMerchandise and also a chance to get featured in a FastrackTV commercial. This makes the campaign go viral as usersshare the videos with their friends to get more views.
AIDA COMMUNICATION MODEL :
AIDA is a communication model which can be used by firmsto aid them in selling their product or services. AIDA is anAcronym for Attention, Interest, Desire, and Action. When aproduct is launched the first goal is to grab attention andthat is what fastrack did by introducing a mid price range ofwatches for the youth which were affordable as well ascreated a fashion statement for the youngsters.
Once we grab attention we held Interest, through promotingby getting virat kohli and genelia d’souza as brandambassadors and coming up with new ranges every halfyearly. The third stage is desire, to make the productdesirable to the consumer which was done by introducingnew accessories by the brand like it introduced bags beltswristbands and sunglasses at the nominal price range .Thefinal stage is the purchase action, and the company has beensuccessful with its strategy and the target customer haspurchase the product.


Price
Titan have watches like sonata to cover the lower levelincome segment people and titan raga, octane, xylus totarget higher segment people but they didn’t had anywatches to cover the youth market which is in flourish nowbecause more than 50% of population is youth, so theycame up with fastrack to cover this segment and they aretrying to cover the market share in youth sector and actuallythey are successful also because they cover 37% of 50% ofyouth population.

PRICING OBJECTIVE :
The pricing strategy adopted by Fastrack is market sharemaximization as they are targeting people with affordablecost rangeThey have watches from the range of 499 to more than4000,so that they can attract customers of lower segment tohigher segment and this clearly shows that they are intocapturing more of the market share than making profit orother strategies.

DISCOUNTS :Fastrack always come up with discount offers at auspiciousoccasions to capture more market.They also provide exchange offers, when old watch isreplaced by new watch they provide a discount upto 40%.
PRICING CUES :
Fastrack follows odd pricing strategy and ends the price with5 . So people perceive the price as low as people in Indiatend to read from left to right.

Place
Fastrack is a product that u can find everywhere because ofits parent company Titan. Titan have already build thechannels in the form of exclusive stores and outlets sofastrack products are also made available in those storesand later they established their own exclusive store offastrack where all range of fastrack watches are availableand these exclusive showrooms are present only in somecites while in other places they are being sold through theoutlets of Titan.


PARALLEL DISTRIBUTION :
Fastrack follow parallel distribution network
• 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, citycentral etc.
• It sells through retail outlets ( watch shops , gift shops).

Fastrack’s supply chain in mostly concentrated on Tier-1 andTier-2 cities as youth in urban cities look for style andbranded products when compared to youth in rural andunder developed areas. In tier-1 and tier-2 cities fastrackhave a huge supply chain to make products available in eachand every corner of the city.





















Future Plans
• Titan targeting three-fold growth in revenue in 5 years to Rs. 14,000 crore making us a 3 billion dollar company.
• Fastrack is an important part of the expansion plans, targetting 880 Cr turnover for the fiscal year 2012-13
• Plans to add 200 more exclusive Fastrack showrooms
• Tapping into the huge opportunity in International Markets.


























Conclusion
• Titan is the market leader in the Wrist Watch Market, India
• Fastrack one of its most successful and profitable brand
• Even after the entry of other players, Fastrack in its segment remains largely un-threatened and expansion of its product line shall ensure that it remains a strong player in the coming decades










INDIAN WATCH INDUSTRY
Wrist Watches form an integral part of the personality of individuals in the present era.
Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item.
Indian watches market was for long dominated by public sector organizations like Hindustan Machine Tools Ltd.
In post liberalization India, the market stood to witness
intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Frederique Constant, Mont Blanc, Swatch, and many others.
Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves, currently.
Besides this, buyers are extremely choosy about the brand and type of wrist watches they wear.
Being extremely brand conscious, their tastes have evolved over the years and have gone beyond the realms of durability to choose in terms of aesthetics and elegance.
Thus it is a buyer’s market with multitude of designs that have entered and flooded the market place.
The size of the watch market in India currently is estimated to be around 40 to 45 million pieces annually.
The organized sector alone contributes up to 30 % & the other 70 % is contributed by the unorganized grey sector.
In dollar terms, the estimated annual market size is around USD 195 million, despite the fact that the penetration
of watches is the lowest, compared globally.
The average growth in the size of the market is slated to be around 10 -15 percent per year.



TITAN INDUSTRY
Titan Industries is the world's fifth largest and India's leading manufacturer of watches.
The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.
The umbrella brand 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 brand Titan is committed to offering its consumers watches that represent the compass of their imagination.
Titan's customers are therefore consistently introduced to exciting new collections, which connect, with various facets of their deep−rooted yearnings for self-expression.
The new brand philosophy of Titan, encapsulated in the words "Be More", touches this as well as all other aspects of
The brand.
The Titan brand architecture comprises several collection and sub−brands, each of which is a leader in its segment.
Notable among them are:
• Titan EDGE
• Titan Raga
• Titan Nebula
• Titan Heritage
• Titan Regalia
• Titan Octane
• Titan WWF
• Titan Fastrack
Titan SonataToday, the Titan portfolio has over 60% of the domestic market share in the organized watch market.
The company has 24X7 exclusive showrooms christened
World of Titan', making it amongst the largest chains in its category backed by 700 after−sales−service centres.
The company has a world−class design studio that
Constantly invents new trends in wrist watches.


Background Of Fastrack
Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market.
When that JV broke off in 1997 and Timex went independent,
there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering.
Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack
Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong.
They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong.
When they launched, they targeted predominantly the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.

Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market. When that JV broke off in 1997 and Timex went independent, there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering. Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack. Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong. They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong. When they launched, they targeted predominantly11 the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.


Re-launch Of Fastrack
They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check.
Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience.
But what was happening was the collection in terms of looks, price point and consumer buying behaviour was very similar to Fastrack, including advertising.
The parent brand needed to continue in its endeavour to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range.
Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance.
However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo.
They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005.
The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously.
Next year, they recorded another 100 per cent growth.

They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check. Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience. But what was happening was the collection in terms of looks, price point and consumer buying behavior was very similar to Fastrack, including advertising. The parent brand needed to continue in its endeavor to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range. Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance. However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo. They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005. The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously. Next year, they recorded another 100 per cent growth.
When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years. Fastrack has a presence in over
6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multi-channel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch & optical outlets. Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success. It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too. With this, it now has enough categories to open a fashion accessories store – and that’s just what

When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years.
Fastrack has a presence in over 6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multichannel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi brand watch & optical outlets.

Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success.
It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too.
With this, it now has enough categories to open a fashion accessories store – and that’s just what they’ve done!








FEATURES
Fastrack then promoted itself through a 360-degree media blitz through television, outdoor, events and promotions to change the perception of watches as a functional tool to a fashion accessory Fastrack captured the essence of today’s fun loving, free spirited youth through the new positioning in a tongue in cheek colloquial phrase - “How many you have.’’

.Fastrack 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
-Young & Energetic
-Quirky
-Open to experiment
-Want recognition
-Rebellious trendy
- Fashionable
-Brand conscious.











UNIQUE SELLING PROPORTION


Variety of collections of Fastrack watches specifically targeted to men and women. Each product is includes a different set of features to meet the need of specific custom.

• Good Distribution Network – over 100 Fast track stores across 50 towns with Titan Service Centers across India
• High youth connect – Positioning as a youth stylish brand
• Fast changing designs to keep up with latest trends
• One of the most trusted brands in India
• Excellent advertising and brand visibility connecting with the youth
• Has a diverse portfolio of watches, sunglasses, bags, wallets etc


COMPETITORS
Major Players in Market Other than Titan/Fastrack General Indian Competitors of Fastrack
• HMT
• Timex
• Timex
• Maxima
• Casio Foreign
• Swatch
• Cartier
• Omega
• Piaget
• Gucci
• Casio
• Citizen
• Tag Heuer
• Espirit
Competitor 1:
Timex
• Largest selling brand in USA and Canada
• Lowest cost watch manufacturer of 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
Competitor 2:
Casio
• Japan based company
• Products include calculators and musical instruments
• Market leader in calculators with 90% market share, strong presence in digital watch market
• Recent positioning focuses on low end watches
Competitor 3:
Swatch
• Swiss brand launched in 1983
• High brand equity because of the Swiss heritage
• High tech, highly accurate and a high prestige value attached to the brand
• Official time-keepers for many high profile events including Olympics
• Recently started focusing on the upwardly mobile youth segment.








4 P’s of Fastrack

Product
QUALITY
:Fastrack is sub brand of Titan and Titan is well known for itsquality. Even though Fastrack is brand created targetingmedium range and low range segment, high quality isprovided to customers.
FEATURES:
Fastrack is well known for its features, it has come up withseveral variants and features which suits the choices andtastes of different consumers.

PRODUCT VARIETY ( DESIGN AND STYLE) :
Fastrack is specially designed for youth. Its design and styleand variants are the key to the success of the brand. Theseveral variants they have come up with are
Sport ,Army, Adventure, Bikers ,Color, play ,Hiphop Neon, Neon – disc xy.




PACKAGING :
Fastrack has came up with new and contemporary packagingfor its watches which attracts youth.

SERVICES & WARRANTY :
Fastrack provides warranty of one year on all its watchrange. After sales services are available on all Fastrack andTitan showrooms.

Product Life cycle
Fastrack is in growth stage now as it is marking rapid climbin sales.
Early adaptors like the product and the additionalcustomers start buying the product. The companycontinuously coming up with new features and variantskeeping the brand moving forward satisfying tastes andneeds of different customers
Levels Of Product :Core product :
Satisfying purpose of keeping track on timeActual product : Fastrack watchExpected product : Product with brand value and imageAugmented product Warranty, after sales service, design ,packaging.








Promotion
TVC :
Most of the Fastrack TVC advertisements were dominatedby youth and youth representing brand ambassadors likeJohn Abraham, Genelia and Virat Kohli.Some of the popular Fastrack advertisements arediscussed below:Yes Sir Ad :
• A teacher was taking attendance.
• A boy responses his roll by raising his hand.
• Girls get obsessed by looking at the watch worn by thatboy Which has the message that this watch on your wristmakes you more stylish?




Creative Advertising :
From Titan Fastrack where fashionable jeweller was a gift onpurchase of any Fastrack watch. This jewellery set of apendant and earrings is contemporary and unique in formand material, with steel and acrylic being used together forstunning effect. This was launched for Valentine’s Day wherethe name scheme, The watch being advertised for (Fasttrack) as it pertains to the youth, jewellery (for the youth),valentine’s day (more so for the youth) and adding to theexcitement is a limited edition FASTRACK VALENTINESCOLLECTION that is being made available in four designs.Only 300 watches of each design will be on sale across citiesduring this fortnight.

These watches are designed is steel with leather straps inthe colours of the season – black, red and silver. The dialsare in matched colours with heart patterns, making thecollection a true blend of fashion and romance. "Youngcouples are looking for new ways to discover theirrelationships and this set of special watches and matchingjewellery from Fastrack, gives them just the reason to do so.The promotion was in Mumbai, Delhi, Pune and Bangalorefrom Feb 1–14.

POSTER AD :


FASTRACK WEBSITE PROMOTION :
Fastrack website is the tool they used to attract the youth,the pictures displayed on the website creates curiosity andinterest towards the product.

SALES PROMOTION :
Fastrack always come up with sales promotion duringfestival seasons and special locations. They provide 20% -40% discounts on all its watch ranges.



BRAND AMBASSADOR :
Brand Ambassadors for the Fastrack watch are Virat Kohli,Genelia D’ Souza, John Ambassador to appeal to youth.


OUTDOOR ADVERTISING :
The billboard advertising is very popularhowever has to be really terse and catchy inorder to grab the attention of the passers by.Fastrack billboards can be found put up all overDelhi especially at places like the north campusuniversity area on the main road which thecompany knows that it is a youth centric areaand since that is their target segment it puts upthere. The brand also does trade shows duringthe festival area which a key rule to theirpromotional strategy through which hey engagethe youth and make them aware of the brand.

PUBLIC RELATIONS :
Fastrack one of the few companies in Indiato take the lead on embracing PR 2.0.Fastrack has come out with the Fastracksocial media news room for bloggers.They are using the newsroom to shareinformation and news on Fastrack. It alsofeatures social media press releases (Bikersand Neon Disk), Flicker streams of Fastrackgears, social bookmarkingbuttons, videos, media coverage, productand company information, spokespersonprofile, RSS feeds, and more.
70. For the consumers, Fastrack has launched two Facebookgroups called Life on Fastrack and Bikers on the Fastrack,which have 121 and 71 members already, as on yesterday.The groups have attracted so many people in such a shorttime.Fastrack main site – not the usual corporate stiffness but anattractive and very consumer oriented featuring contests,fun stuff, opinion polls among others. They plan to follow upwith a Twitter part as well.
It has launched MyExBox, an online campaign where userscan post videos that communicate. The month long onlinecampaign is based on the Fastrack’s theme ‘Move On’ andencourages users to vent the reasons why they had to dumpsomeone or something and move on. According to thecompany, the most viewed video of the week wins FastrackMerchandise and also a chance to get featured in a FastrackTV commercial. This makes the campaign go viral as usersshare the videos with their friends to get more views.
AIDA COMMUNICATION MODEL :
AIDA is a communication model which can be used by firmsto aid them in selling their product or services. AIDA is anAcronym for Attention, Interest, Desire, and Action. When aproduct is launched the first goal is to grab attention andthat is what fastrack did by introducing a mid price range ofwatches for the youth which were affordable as well ascreated a fashion statement for the youngsters.
Once we grab attention we held Interest, through promotingby getting virat kohli and genelia d’souza as brandambassadors and coming up with new ranges every halfyearly. The third stage is desire, to make the productdesirable to the consumer which was done by introducingnew accessories by the brand like it introduced bags beltswristbands and sunglasses at the nominal price range .Thefinal stage is the purchase action, and the company has beensuccessful with its strategy and the target customer haspurchase the product.


Price
Titan have watches like sonata to cover the lower levelincome segment people and titan raga, octane, xylus totarget higher segment people but they didn’t had anywatches to cover the youth market which is in flourish nowbecause more than 50% of population is youth, so theycame up with fastrack to cover this segment and they aretrying to cover the market share in youth sector and actuallythey are successful also because they cover 37% of 50% ofyouth population.

PRICING OBJECTIVE :
The pricing strategy adopted by Fastrack is market sharemaximization as they are targeting people with affordablecost rangeThey have watches from the range of 499 to more than4000,so that they can attract customers of lower segment tohigher segment and this clearly shows that they are intocapturing more of the market share than making profit orother strategies.

DISCOUNTS :Fastrack always come up with discount offers at auspiciousoccasions to capture more market.They also provide exchange offers, when old watch isreplaced by new watch they provide a discount upto 40%.
PRICING CUES :
Fastrack follows odd pricing strategy and ends the price with5 . So people perceive the price as low as people in Indiatend to read from left to right.

Place
Fastrack is a product that u can find everywhere because ofits parent company Titan. Titan have already build thechannels in the form of exclusive stores and outlets sofastrack products are also made available in those storesand later they established their own exclusive store offastrack where all range of fastrack watches are availableand these exclusive showrooms are present only in somecites while in other places they are being sold through theoutlets of Titan.


PARALLEL DISTRIBUTION :
Fastrack follow parallel distribution network
• 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, citycentral etc.
• It sells through retail outlets ( watch shops , gift shops).

Fastrack’s supply chain in mostly concentrated on Tier-1 andTier-2 cities as youth in urban cities look for style andbranded products when compared to youth in rural andunder developed areas. In tier-1 and tier-2 cities fastrackhave a huge supply chain to make products available in eachand every corner of the city.





















Future Plans
• Titan targeting three-fold growth in revenue in 5 years to Rs. 14,000 crore making us a 3 billion dollar company.
• Fastrack is an important part of the expansion plans, targetting 880 Cr turnover for the fiscal year 2012-13
• Plans to add 200 more exclusive Fastrack showrooms
• Tapping into the huge opportunity in International Markets.


























Conclusion
• Titan is the market leader in the Wrist Watch Market, India
• Fastrack one of its most successful and profitable brand
• Even after the entry of other players, Fastrack in its segment remains largely un-threatened and expansion of its product line shall ensure that it remains a strong player in the coming decades


















INDIAN WATCH INDUSTRY
Wrist Watches form an integral part of the personality of individuals in the present era.
Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item.
Indian watches market was for long dominated by public sector organizations like Hindustan Machine Tools Ltd.
In post liberalization India, the market stood to witness
intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Frederique Constant, Mont Blanc, Swatch, and many others.
Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves, currently.
Besides this, buyers are extremely choosy about the brand and type of wrist watches they wear.
Being extremely brand conscious, their tastes have evolved over the years and have gone beyond the realms of durability to choose in terms of aesthetics and elegance.
Thus it is a buyer’s market with multitude of designs that have entered and flooded the market place.
The size of the watch market in India currently is estimated to be around 40 to 45 million pieces annually.
The organized sector alone contributes up to 30 % & the other 70 % is contributed by the unorganized grey sector.
In dollar terms, the estimated annual market size is around USD 195 million, despite the fact that the penetration
of watches is the lowest, compared globally.
The average growth in the size of the market is slated to be around 10 -15 percent per year.



TITAN INDUSTRY
Titan Industries is the world's fifth largest and India's leading manufacturer of watches.
The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.
The umbrella brand 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 brand Titan is committed to offering its consumers watches that represent the compass of their imagination.
Titan's customers are therefore consistently introduced to exciting new collections, which connect, with various facets of their deep−rooted yearnings for self-expression.
The new brand philosophy of Titan, encapsulated in the words "Be More", touches this as well as all other aspects of
The brand.
The Titan brand architecture comprises several collection and sub−brands, each of which is a leader in its segment.
Notable among them are:
• Titan EDGE
• Titan Raga
• Titan Nebula
• Titan Heritage
• Titan Regalia
• Titan Octane
• Titan WWF
• Titan Fastrack
Titan SonataToday, the Titan portfolio has over 60% of the domestic market share in the organized watch market.
The company has 24X7 exclusive showrooms christened
World of Titan', making it amongst the largest chains in its category backed by 700 after−sales−service centres.
The company has a world−class design studio that
Constantly invents new trends in wrist watches.


Background Of Fastrack
Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market.
When that JV broke off in 1997 and Timex went independent,
there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering.
Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack
Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong.
They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong.
When they launched, they targeted predominantly the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.

Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market. When that JV broke off in 1997 and Timex went independent, there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering. Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack. Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong. They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong. When they launched, they targeted predominantly11 the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.


Re-launch Of Fastrack
They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check.
Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience.
But what was happening was the collection in terms of looks, price point and consumer buying behaviour was very similar to Fastrack, including advertising.
The parent brand needed to continue in its endeavour to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range.
Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance.
However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo.
They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005.
The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously.
Next year, they recorded another 100 per cent growth.

They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check. Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience. But what was happening was the collection in terms of looks, price point and consumer buying behavior was very similar to Fastrack, including advertising. The parent brand needed to continue in its endeavor to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range. Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance. However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo. They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005. The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously. Next year, they recorded another 100 per cent growth.
When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years. Fastrack has a presence in over
6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multi-channel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch & optical outlets. Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success. It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too. With this, it now has enough categories to open a fashion accessories store – and that’s just what

When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years.
Fastrack has a presence in over 6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multichannel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi brand watch & optical outlets.

Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success.
It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too.
With this, it now has enough categories to open a fashion accessories store – and that’s just what they’ve done!








FEATURES
Fastrack then promoted itself through a 360-degree media blitz through television, outdoor, events and promotions to change the perception of watches as a functional tool to a fashion accessory Fastrack captured the essence of today’s fun loving, free spirited youth through the new positioning in a tongue in cheek colloquial phrase - “How many you have.’’

.Fastrack 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
-Young & Energetic
-Quirky
-Open to experiment
-Want recognition
-Rebellious trendy
- Fashionable
-Brand conscious.











UNIQUE SELLING PROPORTION


Variety of collections of Fastrack watches specifically targeted to men and women. Each product is includes a different set of features to meet the need of specific custom.

• Good Distribution Network – over 100 Fast track stores across 50 towns with Titan Service Centers across India
• High youth connect – Positioning as a youth stylish brand
• Fast changing designs to keep up with latest trends
• One of the most trusted brands in India
• Excellent advertising and brand visibility connecting with the youth
• Has a diverse portfolio of watches, sunglasses, bags, wallets etc


COMPETITORS
Major Players in Market Other than Titan/Fastrack General Indian Competitors of Fastrack
• HMT
• Timex
• Timex
• Maxima
• Casio Foreign
• Swatch
• Cartier
• Omega
• Piaget
• Gucci
• Casio
• Citizen
• Tag Heuer
• Espirit
Competitor 1:
Timex
• Largest selling brand in USA and Canada
• Lowest cost watch manufacturer of 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
Competitor 2:
Casio
• Japan based company
• Products include calculators and musical instruments
• Market leader in calculators with 90% market share, strong presence in digital watch market
• Recent positioning focuses on low end watches
Competitor 3:
Swatch
• Swiss brand launched in 1983
• High brand equity because of the Swiss heritage
• High tech, highly accurate and a high prestige value attached to the brand
• Official time-keepers for many high profile events including Olympics
• Recently started focusing on the upwardly mobile youth segment.








4 P’s of Fastrack

Product
QUALITY
:Fastrack is sub brand of Titan and Titan is well known for itsquality. Even though Fastrack is brand created targetingmedium range and low range segment, high quality isprovided to customers.
FEATURES:
Fastrack is well known for its features, it has come up withseveral variants and features which suits the choices andtastes of different consumers.

PRODUCT VARIETY ( DESIGN AND STYLE) :
Fastrack is specially designed for youth. Its design and styleand variants are the key to the success of the brand. Theseveral variants they have come up with are
Sport ,Army, Adventure, Bikers ,Color, play ,Hiphop Neon, Neon – disc xy.




PACKAGING :
Fastrack has came up with new and contemporary packagingfor its watches which attracts youth.

SERVICES & WARRANTY :
Fastrack provides warranty of one year on all its watchrange. After sales services are available on all Fastrack andTitan showrooms.

Product Life cycle
Fastrack is in growth stage now as it is marking rapid climbin sales.
Early adaptors like the product and the additionalcustomers start buying the product. The companycontinuously coming up with new features and variantskeeping the brand moving forward satisfying tastes andneeds of different customers
Levels Of Product :Core product :
Satisfying purpose of keeping track on timeActual product : Fastrack watchExpected product : Product with brand value and imageAugmented product Warranty, after sales service, design ,packaging.








Promotion
TVC :
Most of the Fastrack TVC advertisements were dominatedby youth and youth representing brand ambassadors likeJohn Abraham, Genelia and Virat Kohli.Some of the popular Fastrack advertisements arediscussed below:Yes Sir Ad :
• A teacher was taking attendance.
• A boy responses his roll by raising his hand.
• Girls get obsessed by looking at the watch worn by thatboy Which has the message that this watch on your wristmakes you more stylish?




Creative Advertising :
From Titan Fastrack where fashionable jeweller was a gift onpurchase of any Fastrack watch. This jewellery set of apendant and earrings is contemporary and unique in formand material, with steel and acrylic being used together forstunning effect. This was launched for Valentine’s Day wherethe name scheme, The watch being advertised for (Fasttrack) as it pertains to the youth, jewellery (for the youth),valentine’s day (more so for the youth) and adding to theexcitement is a limited edition FASTRACK VALENTINESCOLLECTION that is being made available in four designs.Only 300 watches of each design will be on sale across citiesduring this fortnight.

These watches are designed is steel with leather straps inthe colours of the season – black, red and silver. The dialsare in matched colours with heart patterns, making thecollection a true blend of fashion and romance. "Youngcouples are looking for new ways to discover theirrelationships and this set of special watches and matchingjewellery from Fastrack, gives them just the reason to do so.The promotion was in Mumbai, Delhi, Pune and Bangalorefrom Feb 1–14.

POSTER AD :


FASTRACK WEBSITE PROMOTION :
Fastrack website is the tool they used to attract the youth,the pictures displayed on the website creates curiosity andinterest towards the product.

SALES PROMOTION :
Fastrack always come up with sales promotion duringfestival seasons and special locations. They provide 20% -40% discounts on all its watch ranges.



BRAND AMBASSADOR :
Brand Ambassadors for the Fastrack watch are Virat Kohli,Genelia D’ Souza, John Ambassador to appeal to youth.


OUTDOOR ADVERTISING :
The billboard advertising is very popularhowever has to be really terse and catchy inorder to grab the attention of the passers by.Fastrack billboards can be found put up all overDelhi especially at places like the north campusuniversity area on the main road which thecompany knows that it is a youth centric areaand since that is their target segment it puts upthere. The brand also does trade shows duringthe festival area which a key rule to theirpromotional strategy through which hey engagethe youth and make them aware of the brand.

PUBLIC RELATIONS :
Fastrack one of the few companies in Indiato take the lead on embracing PR 2.0.Fastrack has come out with the Fastracksocial media news room for bloggers.They are using the newsroom to shareinformation and news on Fastrack. It alsofeatures social media press releases (Bikersand Neon Disk), Flicker streams of Fastrackgears, social bookmarkingbuttons, videos, media coverage, productand company information, spokespersonprofile, RSS feeds, and more.
70. For the consumers, Fastrack has launched two Facebookgroups called Life on Fastrack and Bikers on the Fastrack,which have 121 and 71 members already, as on yesterday.The groups have attracted so many people in such a shorttime.Fastrack main site – not the usual corporate stiffness but anattractive and very consumer oriented featuring contests,fun stuff, opinion polls among others. They plan to follow upwith a Twitter part as well.
It has launched MyExBox, an online campaign where userscan post videos that communicate. The month long onlinecampaign is based on the Fastrack’s theme ‘Move On’ andencourages users to vent the reasons why they had to dumpsomeone or something and move on. According to thecompany, the most viewed video of the week wins FastrackMerchandise and also a chance to get featured in a FastrackTV commercial. This makes the campaign go viral as usersshare the videos with their friends to get more views.
AIDA COMMUNICATION MODEL :
AIDA is a communication model which can be used by firmsto aid them in selling their product or services. AIDA is anAcronym for Attention, Interest, Desire, and Action. When aproduct is launched the first goal is to grab attention andthat is what fastrack did by introducing a mid price range ofwatches for the youth which were affordable as well ascreated a fashion statement for the youngsters.
Once we grab attention we held Interest, through promotingby getting virat kohli and genelia d’souza as brandambassadors and coming up with new ranges every halfyearly. The third stage is desire, to make the productdesirable to the consumer which was done by introducingnew accessories by the brand like it introduced bags beltswristbands and sunglasses at the nominal price range .Thefinal stage is the purchase action, and the company has beensuccessful with its strategy and the target customer haspurchase the product.


Price
Titan have watches like sonata to cover the lower levelincome segment people and titan raga, octane, xylus totarget higher segment people but they didn’t had anywatches to cover the youth market which is in flourish nowbecause more than 50% of population is youth, so theycame up with fastrack to cover this segment and they aretrying to cover the market share in youth sector and actuallythey are successful also because they cover 37% of 50% ofyouth population.

PRICING OBJECTIVE :
The pricing strategy adopted by Fastrack is market sharemaximization as they are targeting people with affordablecost rangeThey have watches from the range of 499 to more than4000,so that they can attract customers of lower segment tohigher segment and this clearly shows that they are intocapturing more of the market share than making profit orother strategies.

DISCOUNTS :Fastrack always come up with discount offers at auspiciousoccasions to capture more market.They also provide exchange offers, when old watch isreplaced by new watch they provide a discount upto 40%.
PRICING CUES :
Fastrack follows odd pricing strategy and ends the price with5 . So people perceive the price as low as people in Indiatend to read from left to right.

Place
Fastrack is a product that u can find everywhere because ofits parent company Titan. Titan have already build thechannels in the form of exclusive stores and outlets sofastrack products are also made available in those storesand later they established their own exclusive store offastrack where all range of fastrack watches are availableand these exclusive showrooms are present only in somecites while in other places they are being sold through theoutlets of Titan.


PARALLEL DISTRIBUTION :
Fastrack follow parallel distribution network
• 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, citycentral etc.
• It sells through retail outlets ( watch shops , gift shops).

Fastrack’s supply chain in mostly concentrated on Tier-1 andTier-2 cities as youth in urban cities look for style andbranded products when compared to youth in rural andunder developed areas. In tier-1 and tier-2 cities fastrackhave a huge supply chain to make products available in eachand every corner of the city.





















Future Plans
• Titan targeting three-fold growth in revenue in 5 years to Rs. 14,000 crore making us a 3 billion dollar company.
• Fastrack is an important part of the expansion plans, targetting 880 Cr turnover for the fiscal year 2012-13
• Plans to add 200 more exclusive Fastrack showrooms
• Tapping into the huge opportunity in International Markets.


























Conclusion
• Titan is the market leader in the Wrist Watch Market, India
• Fastrack one of its most successful and profitable brand
• Even after the entry of other players, Fastrack in its segment remains largely un-threatened and expansion of its product line shall ensure that it remains a strong player in the coming decades
















INDIAN WATCH INDUSTRY
Wrist Watches form an integral part of the personality of individuals in the present era.
Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item.
Indian watches market was for long dominated by public sector organizations like Hindustan Machine Tools Ltd.
In post liberalization India, the market stood to witness
intensive competition between foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex, Frederique Constant, Mont Blanc, Swatch, and many others.
Many watch makers have made significant inroads in the industry and others are in the process of establishing themselves, currently.
Besides this, buyers are extremely choosy about the brand and type of wrist watches they wear.
Being extremely brand conscious, their tastes have evolved over the years and have gone beyond the realms of durability to choose in terms of aesthetics and elegance.
Thus it is a buyer’s market with multitude of designs that have entered and flooded the market place.
The size of the watch market in India currently is estimated to be around 40 to 45 million pieces annually.
The organized sector alone contributes up to 30 % & the other 70 % is contributed by the unorganized grey sector.
In dollar terms, the estimated annual market size is around USD 195 million, despite the fact that the penetration
of watches is the lowest, compared globally.
The average growth in the size of the market is slated to be around 10 -15 percent per year.



TITAN INDUSTRY
Titan Industries is the world's fifth largest and India's leading manufacturer of watches.
The company has manufactured more than a 100 million watches till date; and has a customer base of over 80 million.
The umbrella brand 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 brand Titan is committed to offering its consumers watches that represent the compass of their imagination.
Titan's customers are therefore consistently introduced to exciting new collections, which connect, with various facets of their deep−rooted yearnings for self-expression.
The new brand philosophy of Titan, encapsulated in the words "Be More", touches this as well as all other aspects of
The brand.
The Titan brand architecture comprises several collection and sub−brands, each of which is a leader in its segment.
Notable among them are:
• Titan EDGE
• Titan Raga
• Titan Nebula
• Titan Heritage
• Titan Regalia
• Titan Octane
• Titan WWF
• Titan Fastrack
Titan SonataToday, the Titan portfolio has over 60% of the domestic market share in the organized watch market.
The company has 24X7 exclusive showrooms christened
World of Titan', making it amongst the largest chains in its category backed by 700 after−sales−service centres.
The company has a world−class design studio that
Constantly invents new trends in wrist watches.


Background Of Fastrack
Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market.
When that JV broke off in 1997 and Timex went independent,
there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering.
Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack
Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong.
They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong.
When they launched, they targeted predominantly the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.

Timex had entered the Indian market through a joint venture with Titan and which was their offering for the youth market. When that JV broke off in 1997 and Timex went independent, there was a gap in Titan’s portfolio and it only made sense to fill that need through their offering. Fastrack was launched as a range of watch ware under Titan and was called Titan Fastrack. Subsequently, it grew from a range to a sub-brand, where Titan was upfront in the logo and the association was strong. They used the jazzy version of the Mozart tune, which is Titan’s signature tune. So, the link with Titan was very strong. When they launched, they targeted predominantly11 the early jobber 23-30 year-old male executive. It was only a year or two later that they launched a line for women.


Re-launch Of Fastrack
They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check.
Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience.
But what was happening was the collection in terms of looks, price point and consumer buying behaviour was very similar to Fastrack, including advertising.
The parent brand needed to continue in its endeavour to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range.
Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance.
However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo.
They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005.
The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously.
Next year, they recorded another 100 per cent growth.

They took off and did well in the start but started stagnating in 2001-2003, and that’s when they went for a reality check. Titan had simultaneously launched the steel collection, which was an attempt to contemporize for a Titan audience. But what was happening was the collection in terms of looks, price point and consumer buying behavior was very similar to Fastrack, including advertising. The parent brand needed to continue in its endeavor to keep it contemporary and hence repositioned Fastrack to younger audience in sub-25 range. Awareness of Fastrack was very low and was linked to Titan. There was no independent identity. Research had also shown that the fact that it had the backing of Titan was a positive assurance. However, kids didn’t like to be serious and sober like their parents. Fastrack needed to break away and hence changed the logo to bring in a youthful, spontaneous, energetic and fun identity and also removed Titan from the upfront association in the logo. They however, kept it at the bottom, saying it’s a Titan product. This helped carry the assurance of the trusted Titan brand. They also stopped using the Mozart tune in advertising.
Fastrack was launched with new products, a new identity, new advertising and a new logo in June 2005. The year took off so well that they ran out of stock very quickly and ended the year with a 150 per cent growth and the demand was growing continuously. Next year, they recorded another 100 per cent growth.
When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years. Fastrack has a presence in over
6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multi-channel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi-brand watch & optical outlets. Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success. It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too. With this, it now has enough categories to open a fashion accessories store – and that’s just what

When re-launch was started, Fastrack brand was worth about Rs 29 crore but however they have grown almost ten times of that over the last three years.
Fastrack has a presence in over 6000 outlets across 800 towns, with new exclusive brand kiosks in Metro Malls and its multichannel distribution network which covers the 228 strong World of Titan Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside, Pantaloons and Multi brand watch & optical outlets.

Fastrack is actually among the few brands where people come asking for the brand. They have adopted a fashion based strategy, where they launch about 3-4 collections in a year in both categories. Collection-based strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being affordable, and to reach out to consumers in a language that connects to them that led to their success.
It’s not your typical fashion brand talking down saying you must look cool and you must look like me. With their advertising, they were able to relate to the youth in a setting they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded its portfolio to now include not just watches and sunglasses but bags, belts, wallets and wristbands too.
With this, it now has enough categories to open a fashion accessories store – and that’s just what they’ve done!








FEATURES
Fastrack then promoted itself through a 360-degree media blitz through television, outdoor, events and promotions to change the perception of watches as a functional tool to a fashion accessory Fastrack captured the essence of today’s fun loving, free spirited youth through the new positioning in a tongue in cheek colloquial phrase - “How many you have.’’

.Fastrack 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
-Young & Energetic
-Quirky
-Open to experiment
-Want recognition
-Rebellious trendy
- Fashionable
-Brand conscious.











UNIQUE SELLING PROPORTION


Variety of collections of Fastrack watches specifically targeted to men and women. Each product is includes a different set of features to meet the need of specific custom.

• Good Distribution Network – over 100 Fast track stores across 50 towns with Titan Service Centers across India
• High youth connect – Positioning as a youth stylish brand
• Fast changing designs to keep up with latest trends
• One of the most trusted brands in India
• Excellent advertising and brand visibility connecting with the youth
• Has a diverse portfolio of watches, sunglasses, bags, wallets etc


COMPETITORS
Major Players in Market Other than Titan/Fastrack General Indian Competitors of Fastrack
• HMT
• Timex
• Timex
• Maxima
• Casio Foreign
• Swatch
• Cartier
• Omega
• Piaget
• Gucci
• Casio
• Citizen
• Tag Heuer
• Espirit
Competitor 1:
Timex
• Largest selling brand in USA and Canada
• Lowest cost watch manufacturer of 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
Competitor 2:
Casio
• Japan based company
• Products include calculators and musical instruments
• Market leader in calculators with 90% market share, strong presence in digital watch market
• Recent positioning focuses on low end watches
Competitor 3:
Swatch
• Swiss brand launched in 1983
• High brand equity because of the Swiss heritage
• High tech, highly accurate and a high prestige value attached to the brand
• Official time-keepers for many high profile events including Olympics
• Recently started focusing on the upwardly mobile youth segment.








4 P’s of Fastrack

Product
QUALITY
:Fastrack is sub brand of Titan and Titan is well known for itsquality. Even though Fastrack is brand created targetingmedium range and low range segment, high quality isprovided to customers.
FEATURES:
Fastrack is well known for its features, it has come up withseveral variants and features which suits the choices andtastes of different consumers.

PRODUCT VARIETY ( DESIGN AND STYLE) :
Fastrack is specially designed for youth. Its design and styleand variants are the key to the success of the brand. Theseveral variants they have come up with are
Sport ,Army, Adventure, Bikers ,Color, play ,Hiphop Neon, Neon – disc xy.




PACKAGING :
Fastrack has came up with new and contemporary packagingfor its watches which attracts youth.

SERVICES & WARRANTY :
Fastrack provides warranty of one year on all its watchrange. After sales services are available on all Fastrack andTitan showrooms.

Product Life cycle
Fastrack is in growth stage now as it is marking rapid climbin sales.
Early adaptors like the product and the additionalcustomers start buying the product. The companycontinuously coming up with new features and variantskeeping the brand moving forward satisfying tastes andneeds of different customers
Levels Of Product :Core product :
Satisfying purpose of keeping track on timeActual product : Fastrack watchExpected product : Product with brand value and imageAugmented product Warranty, after sales service, design ,packaging.








Promotion
TVC :
Most of the Fastrack TVC advertisements were dominatedby youth and youth representing brand ambassadors likeJohn Abraham, Genelia and Virat Kohli.Some of the popular Fastrack advertisements arediscussed below:Yes Sir Ad :
• A teacher was taking attendance.
• A boy responses his roll by raising his hand.
• Girls get obsessed by looking at the watch worn by thatboy Which has the message that this watch on your wristmakes you more stylish?




Creative Advertising :
From Titan Fastrack where fashionable jeweller was a gift onpurchase of any Fastrack watch. This jewellery set of apendant and earrings is contemporary and unique in formand material, with steel and acrylic being used together forstunning effect. This was launched for Valentine’s Day wherethe name scheme, The watch being advertised for (Fasttrack) as it pertains to the youth, jewellery (for the youth),valentine’s day (more so for the youth) and adding to theexcitement is a limited edition FASTRACK VALENTINESCOLLECTION that is being made available in four designs.Only 300 watches of each design will be on sale across citiesduring this fortnight.

These watches are designed is steel with leather straps inthe colours of the season – black, red and silver. The dialsare in matched colours with heart patterns, making thecollection a true blend of fashion and romance. "Youngcouples are looking for new ways to discover theirrelationships and this set of special watches and matchingjewellery from Fastrack, gives them just the reason to do so.The promotion was in Mumbai, Delhi, Pune and Bangalorefrom Feb 1–14.

POSTER AD :


FASTRACK WEBSITE PROMOTION :
Fastrack website is the tool they used to attract the youth,the pictures displayed on the website creates curiosity andinterest towards the product.

SALES PROMOTION :
Fastrack always come up with sales promotion duringfestival seasons and special locations. They provide 20% -40% discounts on all its watch ranges.



BRAND AMBASSADOR :
Brand Ambassadors for the Fastrack watch are Virat Kohli,Genelia D’ Souza, John Ambassador to appeal to youth.


OUTDOOR ADVERTISING :
The billboard advertising is very popularhowever has to be really terse and catchy inorder to grab the attention of the passers by.Fastrack billboards can be found put up all overDelhi especially at places like the north campusuniversity area on the main road which thecompany knows that it is a youth centric areaand since that is their target segment it puts upthere. The brand also does trade shows duringthe festival area which a key rule to theirpromotional strategy through which hey engagethe youth and make them aware of the brand.

PUBLIC RELATIONS :
Fastrack one of the few companies in Indiato take the lead on embracing PR 2.0.Fastrack has come out with the Fastracksocial media news room for bloggers.They are using the newsroom to shareinformation and news on Fastrack. It alsofeatures social media press releases (Bikersand Neon Disk), Flicker streams of Fastrackgears, social bookmarkingbuttons, videos, media coverage, productand company information, spokespersonprofile, RSS feeds, and more.
70. For the consumers, Fastrack has launched two Facebookgroups called Life on Fastrack and Bikers on the Fastrack,which have 121 and 71 members already, as on yesterday.The groups have attracted so many people in such a shorttime.Fastrack main site – not the usual corporate stiffness but anattractive and very consumer oriented featuring contests,fun stuff, opinion polls among others. They plan to follow upwith a Twitter part as well.
It has launched MyExBox, an online campaign where userscan post videos that communicate. The month long onlinecampaign is based on the Fastrack’s theme ‘Move On’ andencourages users to vent the reasons why they had to dumpsomeone or something and move on. According to thecompany, the most viewed video of the week wins FastrackMerchandise and also a chance to get featured in a FastrackTV commercial. This makes the campaign go viral as usersshare the videos with their friends to get more views.
AIDA COMMUNICATION MODEL :
AIDA is a communication model which can be used by firmsto aid them in selling their product or services. AIDA is anAcronym for Attention, Interest, Desire, and Action. When aproduct is launched the first goal is to grab attention andthat is what fastrack did by introducing a mid price range ofwatches for the youth which were affordable as well ascreated a fashion statement for the youngsters.
Once we grab attention we held Interest, through promotingby getting virat kohli and genelia d’souza as brandambassadors and coming up with new ranges every halfyearly. The third stage is desire, to make the productdesirable to the consumer which was done by introducingnew accessories by the brand like it introduced bags beltswristbands and sunglasses at the nominal price range .Thefinal stage is the purchase action, and the company has beensuccessful with its strategy and the target customer haspurchase the product.


Price
Titan have watches like sonata to cover the lower levelincome segment people and titan raga, octane, xylus totarget higher segment people but they didn’t had anywatches to cover the youth market which is in flourish nowbecause more than 50% of population is youth, so theycame up with fastrack to cover this segment and they aretrying to cover the market share in youth sector and actuallythey are successful also because they cover 37% of 50% ofyouth population.

PRICING OBJECTIVE :
The pricing strategy adopted by Fastrack is market sharemaximization as they are targeting people with affordablecost rangeThey have watches from the range of 499 to more than4000,so that they can attract customers of lower segment tohigher segment and this clearly shows that they are intocapturing more of the market share than making profit orother strategies.

DISCOUNTS :Fastrack always come up with discount offers at auspiciousoccasions to capture more market.They also provide exchange offers, when old watch isreplaced by new watch they provide a discount upto 40%.
PRICING CUES :
Fastrack follows odd pricing strategy and ends the price with5 . So people perceive the price as low as people in Indiatend to read from left to right.

Place
Fastrack is a product that u can find everywhere because ofits parent company Titan. Titan have already build thechannels in the form of exclusive stores and outlets sofastrack products are also made available in those storesand later they established their own exclusive store offastrack where all range of fastrack watches are availableand these exclusive showrooms are present only in somecites while in other places they are being sold through theoutlets of Titan.


PARALLEL DISTRIBUTION :
Fastrack follow parallel distribution network
• 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, citycentral etc.
• It sells through retail outlets ( watch shops , gift shops).

Fastrack’s supply chain in mostly concentrated on Tier-1 andTier-2 cities as youth in urban cities look for style andbranded products when compared to youth in rural andunder developed areas. In tier-1 and tier-2 cities fastrackhave a huge supply chain to make products available in eachand every corner of the city.





















Future Plans
• Titan targeting three-fold growth in revenue in 5 years to Rs. 14,000 crore making us a 3 billion dollar company.
• Fastrack is an important part of the expansion plans, targetting 880 Cr turnover for the fiscal year 2012-13
• Plans to add 200 more exclusive Fastrack showrooms
• Tapping into the huge opportunity in International Markets.


























Conclusion
• Titan is the market leader in the Wrist Watch Market, India
• Fastrack one of its most successful and profitable brand
• Even after the entry of other players, Fastrack in its segment remains largely un-threatened and expansion of its product line shall ensure that it remains a strong player in the coming decades