Beginning of Fastrack Fastrack was launched when the Timex and Titan parted ways in

1997 , to fill the gap that Timex had left. It served the youth market.

It targeted early jobber 20-30 year-old male executive. Only 1-2 yrs later it launched line for women.

Problem FacedFastrack started well. But in 2001-2003 their sales started to stagnate.This happened for 2 reasons:

1)Titan the parent co. was contemporizing their product, eg: Launch of Steel Collection, which was similar to Fastrack in terms of looks, price point and consumer buying behavior.2) There was no independent identity. The backing of Titan was a positive assurance. However, kids don’t like to be serious and sober like their parents. Hence it created a barrier.

Re-launch of FastrackIt came out as an independent

identity separate from Titan the brand.

Apart from watches it launched:Eyegear.

Vision :Complete Fashion brand for youth

Targeted :College goers between 18 and 22 years and then extended audience of 15-25.

Re-launching a success?1. Twin approach of constantly innovating

on product design & yet being affordable.

2. Understanding the needs, limitations(in terms of money) and mentality of targeted group.

3. Partnering with MTV which is associated to be a youth channel for communication. It gave then access to MTV`s wider customer base and fan following.

Strategy DevelopmentStrategy is to focus on one segment more

sharply.Fast track is changing its design very often and

coming up with new collection to stay in the market.

With extension into eye gears, They changed it`s tag line from “how many you have?” to ‘Move on’ to keep trying new things.

OLD NEW

Organizational structure :Organizational climate

FASTRACK follows the market trend and is following the foot steps of its competitor SWATCH and SEIKO

MARKET SEGMENTATION & TARGETING

ATTRIBUTES OF EFFECTIVE SEGMENTATIONATTRIBUTES OF EFFECTIVE SEGMENTATION

IdentifiableIdentifiable AccessibleAccessible

SizeableSizeable ProfitableProfitable

Compatible DurableDurable

TargetingExclusive Fastrack store. Opening 50 such stores by2010 ,India.“Fastrack plans on being a Rs 500-crore

brand in 3-4 years. Not to be surprised if it touches Rs 750-1,000 crore in 5-7 years.”

In three years, Fastrack projects to contribute 25-30 per cent of the Titan’s watch business.

Fastrack contributes to 4 per cent in value to Titan and the company has decided to establish it as an independent brand because of its high penetration potential.

Competitors

It is difficult to quantify this segment which has other brands like Esprit, Timex , Casio, Calvin Klein, etc. But it is believed to be getting bigger.

One of the biggest competitor for Fastrack is Swatch.

SWOT ANALYSIS

STRENGTHS:Goodwill in the market

Strong financial positionFast changing designs

WEAKNESS: Short cycle products which are expensive to

makeWeak channel of communication

Lack of exclusive stores

OPPORTUNITIES:Rapid market growth

Changing customer needsTo create relation between society on social

marketing basis

THREATS:Tough competition in watches

Low profit marginsNew competition in market