Promotion management

  1. Which segments are being targeted and strategies used to influence the target segment.

Segments are being targeted

The target market for FAST TRACK MARKET are youth between the age of 18-35 ages including working adults and the post graduates students of both metros and mini metros. The fast track user wears branded jeans ,shirts ,sunglasses and branded informal shoes. They target the personality that of a young energetic , achievement oriented person .they are very fashion oriented and always try the new things.

Fast track is for people of today. This range is broadly aimed at young Indians looking for watches which are stylish and fashionable .With the attention of making it more youthful and relevant to the changing time.

A collection of watches will contemporary styles that are young and distinctive. Designs that go from the relaxed and informal to the definitely sporty. The woman's collection presents the all new international `Frosted' look, which is trendy and chic. The Fastrack collection has elements like cool mesh straps and features that include EL back-light and dual time. Also presenting a range of fashion digitals in contemporary wrist hugging cases with oversized displays and features that include countdown timers, chronographs, lap timers, hourly chime, alarm and Hi-light glow.

Strategies used to influence the target segment.

  • DIFFERENTIATION
  • Fast track watches are developed in such a way so as to enhance quality and features to increase buyer value. This is a perfect example of differentiation through technological leadership and product technological change. Fast track creates competitive advantage through differentiation. The first concentration is on technological leadership.

  • STYLES
  • Fast Track was first in India to introduce the `style' concept for the young generation. They projected the watch as a fashion accessory. Style is a very evident factor in Fast track watches and is a part and parcel of the company. Fast Track watches are shapers and not adapters. Over the years Fast Track had built a formidable distribution and support network. Titan's customer orientation was reflected through their advertising campaigns. By providing a lifestyle product(Fast Track), Titan not only got a premium but also convinced consumers to buy multiple watches.

    Today Fast Track offers the best and the biggest range to choose from offering from the scratch to the highest level in watches. With offering such a variety of models. Fast Track provides variety to the customer and still is able to segment itself creating not a niche but its ability to segment takes it a step further in terms of its product offerings.

  1. Different promotional tools used and the strategy behind using these tools.
  2. For the promotions of the fast track , titan is indulging in various promotional activities like creative advertisement . In the very initial stages fast track introduced a contest on cartoonnetworkindia.com which invites children to use their creativity imagination to design a watch. The winning design was launches as e new watch in the summer 2002 collection and the winner received the first watch of this collection.

    Promotions tools:

    • Sponsorship:

    They are involved in sponsoring major events, cultures and other fests in colleges, schools and national wise happenings. This way of the promotion gives it the extra mileage to increase its data base by directly tapping the customers to convince them about the brand.

    • Seasonality:

    Fast track brand is promoted in the months of june -august when schools and colleges re-open and since these watches cater to the segments of youth ,these watches get the extra mileage on the sales if promoted during these seasons.

    • Occasions:

    Titan is one of the companies which formally believes in the policy of promotion the product based on the occasions of the calander.Not only the promotions of the existing products is done on these occasions but new products which would sell like hot cakes are launches for the sole reason it creates an impact in the minds of customers and appeals to the occasion thus making it evev more special..

    • They also focus on the gifts with the purchase of the watches. TITAN launched the THE BIG HEART OFFER FROM TITAN FASTRACK where fashionable jewellery was a gift on purchase of any Fast track watch. This jewellery set of a pendant and earrings is contemporary and unique in form and material, with steel and acrylic being used together for stunning effect. This was launched for Valentines day .
    • Banners -hoardings:

    It is difficult to see Titan's fast track hoardings displaying its prominence in the streets of the an urban city. The prime locations , next to dealers outlets hoardings with attractive, clear ,simple but cachy slogans are put up and a particular product or sometimes the name in general.

  3. Promotion through contests:
  4. They are tied up with various magazines , televisions ,outlets where titan gifts could be own for winning the contest .one of them is the week magazine where one could win TITAN watches and also many magazines offer many watches depending upon their needs.

  5. Which strategy out of Pull or Push is used and why?
  6. Fast track always apply the Pull strategy for the promotion or the success of their product in the market. They have created the useful image of their product in the minds of the customers .actually they target market are youth and the fast trask wacthes are made according to their living styles ,so its this strategy has very good image in their minds .

    A "pull" selling strategy is one that requires high spending on advertising and consumer promotion to build up consumer demand for a product. The same in the case of the fast track watches ,look at their promotions strategy, they are too keen towards the promotions of their watches and spend the huge money in their promotions tools like promotions through contests, sponsorship in various functions, promotions in various seasons, banners -hoardings.

    Fast track this pull strategy is highly successful ,the customers go to retailers or showrooms and ask them for the particular fast track watches because they have already created the image by various promotions and watches features and this motivates them to apply only the pull strategy. so this creates the demand the fast track demand.

    Reasons for pull strategy:

    • Sponsorship: They are involved in sponsoring majour events ,cultures and other fests in colleges,schools and national wise happenings
    • They also focus on the gifts with the purchase of the watches.
    • Seasonality: Fast track brand is promoted in the months of june -august when schools and colleges re-open.
    • Occasions: Titan is one of the companies which formally believes in the policy of promation the product based on the occasions of the calander.
    So from the above mentions activities we can analyse that they spend high on advertisement and consumer promotions to build consumer demand for the fast track watches.
  7. Critically Appraise the Promotional strategy of your selected brand.
  8. The fast track watches are positioned as cool watches from titan and as the youth face of the titan brand .The promotions activities of the brand also reflected the heavy fashion of the watches.

    As their target market is youth between the age of 18-35 and the customers between this age are very fond of stylist watches and also fashionable one. so the fast track is the best choice for them. Not only with the features of the fast track but the promotions strategies or activities also play the vital role for their success.

    Fast track this pull strategy is highly successful ,the customers go to retailers or showrooms and ask them for the particular fast track watches because they have already created the image by various promotions and watches features and this motivates them to apply only the pull strategy. so this creates the demand the fast track demand.

    • In their promotions they tried to touch every aspects of their target market and that's why they spend huge money on their promotions activities like Sponsorship. They are involved in sponsoring major events ,cultures and other fests in colleges, schools and national wise happenings. Because to attract their young school college customers.
    • They also focus on the gifts with the purchase of the watches. This promotional activities is something different and youth are very fond of gifts etc.
    • Seasonality: Fast track brand is promoted in the months of june -august when schools and colleges re-open. It is one of their best promotional activities to attact at the time of opening of the schools and colleges. At that they are willing to shopping type of activities
    • Occasions: Titan is one of the companies which formally believes in the policy of promotion the product based on the occasions of the calendar. On various calendar dates ,they use various activities to promote their activities.

    So on the whole we can analyse that they are very keen for the promotional activities of their product. And the promotional activities are the best whether for special occasions or for seasonality.

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