Fastrack IMR - Singapore (International Marketing)
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Transcript of Fastrack IMR - Singapore (International Marketing)
![Page 1: Fastrack IMR - Singapore (International Marketing)](https://reader034.fdocuments.net/reader034/viewer/2022042503/55a0c1fc1a28abf44f8b461c/html5/thumbnails/1.jpg)
Presented by: Rohan Kapoor
Gurpreet Singh(21/015)Mridula
Aarushi MalhotraNeha Diwakar(21/020)
Fastrack
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About Fastrack
SWOT&
STP
Competitor Analysis
&
Marketing Mix
PESTEL
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SWOT & STP
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SWOT Analysis
STRENGTH• Good Distribution Network – over 100 Fast track
stores across 50 towns with Titan Service Centres across India
• High youth connect – Positioning as a youth stylish brand
• Fast changing designs to keep up with latest trend• 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
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SWOT Analysis
WEAKNESSES• Products have a short life due to changing
trends – Adds to the cost of production• Limited global reach despite being a popular
brandOPPORTUNITIES
• Fast growing youth segment presents growth opportunities
• Global penetration would help brand grow and target youth worldwide
• Tie-up with fashion houses and special schemes for youth
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SWOT Analysis
THREATS
• Youth segment is price sensitive
• Entry of foreign players has led to tough competition
• With lots of options available brand switching is quite high
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STP
SEGEMENTATION
• GEOGRAPHIC SEGEMENTATION- Cities
• DEMOGRAPHIC SEGEMENTATION- Gender (Males, Females)
• INCOME- Different Price category depending upon income
– Between Rs 500-1500
– Between Rs1500-3000
– Between Rs3000-5000
• AGE- 12-20, 18-30 yrs
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STP
• PSYCHOGRAPHIC SEGEMENTATION
– SOCIAL CLASS- Fashion statement but price sensitive
– LIFESTYLE- Mass, Mid premium
– PERSONALITY – Economy category, sports and casual category
• BEHAVIOURAL SEGEMENTATION
– CASUAL WEAR
– DRESSWEAR
– FASHION
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STP
Targeting• It has a niche audience
• Targets the young and young at heart and people who are fashion conscious but price sensitive
Positioning• Positioning statement for fastrack- “move on”
• Youth brand for stylish youth owning multiple watches
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Competitor Analysis & Marketing Mix
Fastrack
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Major Players in Market
General
Indian • HMT• Timex• Maxima
Foreign• Cartier• Omega• Piaget• Gucci• Casio• Citizen• Tag Heuer• Espirit
Competitors of Fastrack
• Timex
• Casio
• Swatch
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Competitors
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 Helixtargeting the demographic segment of 18-24 year old
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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
Competitors
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Competitors
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.
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MARKETING MIX- 4 P’s
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PRODUCTQUALITY :
Fastrack is sub brand of Titan and Titan is well known for its quality. Even though Fastrack is brand created targeting medium range and low range segment, high quality is provided to customers.
FEATURES :
Fastrack is well known for its features, it has come up with several variants and features which suits the choices and tastes of different consumers.
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PRICING:
Fastrack follows odd pricing strategy and ends the price with 5 . So people perceive the price as low as people in India tend to read from left to right
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• 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,
city central etc.
PLACE
Fastrack’s supply chain in mostly concentrated on Tier-1 and Tier-2 cities as youth in urban cities look for style and branded products
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PROMOTION
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PESTEL
Fastrack
IMR - SINGAPORE
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P E S T E L1. Political and legal Factors:
• Political stability
• Enterprise friendly company
• Government has setup various organizations
• SPRING Singapore (Standards, Productivity and Innovation Board)
• Competition Commission of Singapore
2. Economic Factors:
• Vibrant free market economy
• Corruption –free environment
• Educated and motivated workforce
• Government has invested heavily in diversifying the economy
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P E S T E L3. Socio cultural Factors:
• Younger generation has started to adopt to western culture and values
• Materialism desire
• Current population: 4.8 million
4. Technological Factors:
• Comprehensive infrastructure setup
• Moving towards an electronic government era
• Innovation system. Spending in R&D
5. Environment Factors: Packaging material
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?But wait…There’s More!
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Collaborators : Parallel Distribution
Online
Factory Outlets
Major chains
Retail Outlets
Shopping Malls
Few collaborators idenfied in Singapore are:
-MGI Lusury singapore pte Ltd.-Swee Heng mfg. co pte Ltd.
IMR- SINGAPORE
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Fast Watch Pricing in Singapore:
Range: Singapore dollar 25 – 80
Fastrack Watch Promotion and Distribution in Singapore:
Singapore Malls, Singapore Retailers, etc
For Promotion:
Advertisement Brand Ambassador- Daphne Khoo(Singer)Regional Language used in Advertisement
FASTRACK - SINGAPORE
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Segmentation: Demographics: Male and Female
Age Group: 10-25 yrsIncome Group: $4000-8000/month
Targeting:Fastrack will target young and youth people who are fashion conscious
and want to adopt cool and trendy watches
Positioning:Positioning Statement: “Berjalan Terus” it means “Move on”
Fastrack STP - Singapore
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What’s Your Message?Thank you