PROJECT ON

REPORT

COMPUTER

BASED INFORMATION SYSTEM

SUBMITTED BY: JASLEEN POPLI(1020) ASHWYN SOOD(1009) BBA 3

SUBMITTED TO: SIR VIJAY CHABBRA

ACKNOWLEDGEMENT

I owe a great many thanks to a great many peoplewho helped me and supported me during the writing of this project.

My deepest thanks to lecturer SIR VIJAY CHABRA the guide of the project for guiding and correcting various documents of mine with attention and care.

I express my thanks to the principalDR R.L.BEHL for extending his support.

JASLEEN POPLI ASHWYN SOOD

INDEX

INTRODUCTION OBJECTIVES OF THE STUDY LITERATURE REVIEW CREATIVE ADVERTISING APPLICATION OF PRICING STRATEGY RESEARCH METHODOLOGY RESULTS & FINDINGS CONCLUSION BIBLIOGRAPHY

DETAILED STUDY ON FASTRACK WATCHES

Introduction

In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart. A collection of watches with contemporary styles that was specifically designed for the young and distinctive .Designs ranged from the relaxed and informal to the definitely sporty.

Many brands and companies are constantly reinvigorating their businesses and positionin g them for growth. There is a constant need to innovate, reinvigorate, update, recalibrate, or just simply fend off the competition in an effort to better explain "why buy me."Brand positioning creates a specific place in the market for the brandand product offerings. It reaches a certain type of consumers and delivers benefits that meet the needs of several key target groups and users.

The actual approach of a company or brand's positioning in then market place depends on how it communicates the benefits and product attributes to consumers and users. As a result, the brand positioning of a company and/or product seeks to further distance itself from competitors based on a host of items, but most notably on five key issues:

Hence, the market place has become customer centric. Recognizing the importance of the customers in the business structure, companies have started effecting brand repositioning exercises on a regular basis. In the recent times, a major brand repositioning exercise has been planned by Titan Industries Ltd. in order to provide more to its customers. The company has first gone for change in logo and tagline.

Literature Review

The repositioning strategy is rolled out in three stages: introductory,elaboration and fortification stages. This involves the introduction of a new repositioned brand, seeking to underline the brands value over others,and to broaden the brand proposition. It is truly tough to change the customers perceived attitude towards a brand, and therefore the risk is great that the attempt to repositioning might be unsuccessful. After rolling out the strategy, it is time to modify the proposition through update of the personality and through repositioning.

There are benefits and risks with both of this segments and it is of great significance that they are truly evaluated when deciding the next step in the process. To further understand the stages stated above, figure.1 will guide you through the different phases that follow after establish a brand proposition.The implication with the term repositioning is that a companymodifies som ething that is already present in the market and in the consumers mind. The definition of repositioning changes different individuals and professions. To view the different definitions and perceive a greater understanding about this concept, three examples of repositioninggiven by individuals in different professions is stated below:

 Repositioning is a change, principally about trigging the vision, missionand value in a new direction that is more suited for the brand in the future.( Brand manager consultant) Principally, reposition concerns change the consumers perception of thebrand (PR- consultant) Repositioning is built upon the change unique and differentiated associations with the brand in some kind of direction, it is about having abalance between the category party and differentiation when using reposition strategies From these definitions, it is obvious that reposition is about movingsomething to a newer and hopefully to a more attractive and relevant position. Th e purpose of the movement differs with regards to what thecompany wants to achieve. A company might want to reach out to a larger target group, or be involved in several different positions at the market. Thereis also a visible relation between price and quantity aspects. When acompany perceives the market as a demand curve, the purpose is to downstretch or up stretch in this curve. When moving down it is often spoken of asan expansion down wards, and when moving up and there is a need for reaching the premium segment and expand up wards.

Advertisements Bollywood rock star John Abraham was the brand ambassador for Fastrack. Most of its advertisements were dominated by youth. Some of the popular Fastrack advertisements are discussed below:

Yes Sir Ad A teacher was taking attendance, A boy responses his roll by raisinghis hand Girls get obsessed by looking atthe watch worn by that boy Which has the message that thiswatch on your wrist makes you more stylish?

Move On Ad It shows that Girls follow boys wearing Fastrack watch everywhere.

 And the move is onThis has the same message as in the above. Creative Advertising

From Fastrack watches where fashionable jeweler was a gift on purchase of any Fastrack watch. This jewellery set of a pendant and earrings is contemporary andunique in form and material, with steel and acrylic being used together for stunning effect. This was launched for Valentines Day where the name scheme, Watch being advertised for (Fast track) as it pertains to the youth, jewellery (for the youth), valentines day (more so for the youth) and adding to the excitement is alimited edition FASTRACK VALENTINE'S COLLECTION that is being madeavailable in four designs. Only 300 watches of each design will be on sale acrosscities during this fortnight.These watches are designed is steel with leather straps in the colors of the season black, red and silver.

The dials are in matched colors with heart patterns, makingthe collection a true blend of fashion and romance. "Young couples are looking for new ways to discover their relationships and this set of special watches andmatching jewellery from Fastrack, gives them just the reason to do so. The promotion was in Mumbai, Delhi, Pune and Bangalore from Feb 114 PRICING The price of the models of Fastrack ranged from Rs.550 to Rs 2,430 and was designed exclusively keeping in mind the Generation X of the subcontinent.Titans primary pricing objective is to kill Competition. Being an Indian manufacture and infusing the advantages of the Indian market with the dynamics of the western market the company has carved itself a place difficult to achieve by foreign players APPLICATION OF PRICING STRATEGY The main plank of the watch market is in the less-than-Rs.1, 000 price category.Effectively, about 70 per cent of the sales in the watch industry in India are in this category. None of the foreign brands has a presence in this category.

Only cheap Chinese watches are present in this bracket and they compete with the unorganized manufacturers, who are more expensive than them. So, the unorganized sector is getting hit from the bottom by Chinese products and at the top by the organized sector brands, such as Sonata.

Price Discounts and Allowances Fastrack once a year comes out with a Price discount sale on the MRP of the watches which is based on the stock carried by the company at the year end.Warranties and Service Contracts Fastrack provides warranty or service contract to its watches and this is backed up by the name TATA which is especially needed to convince and march ahead in the lower segment market.Product Line Pricing Tatas have paid Rs.10 crore for the three-year contract. For the Tatas themselves, it meant more than just sponsorship it signaled the beginning of a new era in the Tata regime.

One of the main reasons for the sponsor of this event is Global event like these provide a great opportunity to corporate tosatisfy their marketing objectives and cross-promote their brands,The differences in the prices of the watches are justified by the features, the style,and the differences which make up each watch. Titan prices all its watches in sucha way that it maximizes the total profit on the total mix.The Tata Open The battle ground for this new strategy of synergy started with the Tata Open (Indias biggest tennis tournament) held every year in December January. PROMOTIONS Before Titans arrival on the scene, Indian watch manufacturers saw advertising as a rather unnecessary expense. Titan saw it as a vital investment, as it went about fashioning brand-building criteria that has since been embraced by the entire industry. The brand has always invested heavily in showcasing its products,through measures such as catalogue advertising and by using the print media regularly and effectively to merchandise new models.

Advertising of this kind enabled consumers to shopoff the page and decide which model they wanted. Titan has made a mark in television promotions, too, where its advertisements have been noticed for the music tracks used in them. In 1991, Titan created a set of three promotional films to develop thegifting market. Watches had always been a great gift favourite, but Titan was convinced that much of the segments potential lay untapped.

Each of the films explored a particular relationship, wherein the gifting of a Titan generated a moving personal moment for those involved. Advertising aside, the conception and ambience of Titans own retail outlets have been a powerful promotional tool for the companys products.

These are strategically located in the newer parts of cities and towns, always with a highly refined and uniform frontage with window displays that invite people to walk in.Inside, the Titan experience takes over. Brand offerings are highlighted in highly refined settings that have the best of lighting, props and contextual information. Even if a visit does not consummate in a purchase, the Titan touch is imprinted on consumers.

The 160 World of Titan showrooms across 90 cities in the country,refurbished in 2001, are symbolic of the brands sophistication. Continuous innovation of retail design sustains the invitation to visit the store.

The dependability quotient in the relationship that Titan has nurtured with consumers has been improved by the brands network of after-sales service centres, which is unparalleled for its reach and responsiveness. Adding to the benefits that consumers can expect are Titans high-end watch-care centres,which offer showroom-like ambience and comfort.

Objectives of the Study

To review the brand positioning strategies of different sub-brands of Titan watches To analyze the brand repositioning strategies of Titan watches. To study consumer awareness and perception about the brandrepositioning strategies of Titan watches To recommend suitable measures to be taken by the Titan Company to further improve its brand perception and loyalty among its customers.

This study would help titan industry to understand the gaps in itscommunication strategy regarding brand repositioning exercises and thefurther measures to be taken for effective marketing communications.

Scope of the study: Study covers the awareness of the consumer towards Fastrack watches. Study covers the reasons of buying the Fastrack watches. Study covers the consumer attitude towards the price of the Fastrack watches.

 Study covers the various marketing channels of Fastrack watches. Study covers the history of watches industries. Study covers the various problems faced by the company and the de Methodology A research process consists of stages or steps that guide the project from its conception through the final analysis, recommendations and ultimate actions. The research process provides a systematic, planned approach to the research project and ensures that all aspects of the research project are consistent with each other. Research studies evolve through a series of steps, each representing the answer to a key question. A successfulcompletion of any project and getting genuine results from that depends upon the method used by the researcher. The methodology for this study is laid upon the following basis: Research Design Sources Of Data Collection Sampling Plan/Types of Reseach 4.1 RESEARCH DESIGN A research design is an arrangement of condition for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedures. It constitutues the blue print for collection, measurements and analysis of data. The research design for this reseach is descriptive. 4.2 SOURCES OF DATA COLLECTION Primary Data: It is derived from structured data. No primary data has been used in the completion of this project. Secondary Data: It is obtained from books, magazines, journals and websites. This project has been throughly prepared from secondary data sources mentioned below. 4.3 TYPE OF RESEARCH Secondary research were carried out in the form of a literature review, to compare and contrast material and interpret the issues with a view to drawing conclusions and developing recommendations. Secondary Data Sources. a) Internet- Searching the internet extensively the starting point of this research and provided some valuable secondary data. Website such as the Government of India's Ministry of Finance which provides information on current FDI policy through the Foreign Investment Promotion Board (FIPB), and also provides press releases and data and statistics have been useful. The report also references some small domestic industry group's website useful, and other trade lobby sites. One particular notable internet resource was the Centre For Policy Alternatives which have provided particularly informative reports on some of the key issues with FDI in Indian Retail. b) News articles and Industry reports- To obtain up to date information and opinions on the research topic it was necessary to refer to domestic and international news articles and gather a variety of industry reports and papers.

4.4 Research Findings Data processing could be done maually or electronincally. It involves editing, caegorising, coding, computerixation and preparation of graphs and diagrams. Under this study, the information has benn fed in electronically. Thereafter, the research findings are developed based upon the data and information.

Results & Findings SWOT Analysis Of Fast track watches: Strengths: new bogus appurtenances abstraction to rollout in 5 months. communicable the beating of the buyer, present acceptable designs & acceptingemotions. Heavy asset in technology, artefact architecture and staff. Focus on new articles for the high-end marketplace. Weaknesses: Lack in artefact separation. Different models at assorted amount points. centermost on accumulation bazaar instead of alcove markets. Not actual user affable design. Opportunities: differentiate its account from competitors. Offer artefact variation crave for corpuscle watches apprenticed by the account provider or carriers. Tie up with account providers. lower the amount of a buzz by just $20 inabounding countries could increase Affordability by 43%. Threats:

Fasttrack watches in the U.S market, Titan acceptance in the Pakistanimarket, artful added than bisected of the market. Agitated competitor, including Titan and Tissot bistro into its share. Not befitting clue of the new trend in the market. Not an appearance accent and appearance statement

Limitations Followings are the limitation factors: The study is confined to Shimoga area only The responses of the consumers may not be genuine The questions included in the questionnaire may not becomprehensive. Time constraint Co-operation of dealers Co-operation of customer Co-operation of customer relationship Non co-operative and hesitated to provide information

Conclusion

Attributes such as recognition of the brand, attractiveness of the design and the unique looks of the watch, lead to creation of various images in the minds of the consumers. The image could be one of sophistication or of maturity or of futuristic personality; they all in essence, are the way the consumer wanted to see himself or herself as

.Fastrack as a brand has positioned itself as a college goers watch.

It portrays the image of a trendy and young brand. The designs introduced by Fastrack are innovative and appealing to the target group. Thus, the Gen Next or Futuristic image as well is addressed to. But, definitely Fastrack is not associated with sophistication or maturity.

Maturity as an image would not compliment the current positioning of the college goers watch. But, sophistication is an image Fastrack could definitely adopt or add to its existing positioning. Also, for the target group, attention, impressing others and fishing for compliments seemed to be important sources of values such as self esteem and acknowledgement. Fastrack seems to be doing a good job with their advertising as they are able to portray their watches as attention catching and impressive.

Gaining and maintaining consumer preference is a battle that is never really won. Continued and consistent branding initiatives that reinforce the consumer purchase decision will, over time, land the product in consumer preference sets. Attaining and sustaining preferenceis an important step on the road to gaining brand loyaltyMost of the consumers prefer Fastrack watches in SRM University campus, due to its strongbrand image, and the main factor forcing the customers to buy fastrack watch is advertisements through the print and electronic media

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6) http://www.hatch.ca/project_implementation/articles/improving_ %20predictability_fast_track_projects.htm