7/29/2019 Comp Project(1)
1/21
PROJECT REPORT
ON
COMPUTER BASED
INFORMATION SYSTEM
SUBMITTED TO: SUBMITTED BY:
SIR VIJAY CHABBRA JASLEEN POPLI(1020)
ASHWYN SOOD(1009)
BBA 3
7/29/2019 Comp Project(1)
2/21
SRI AUROBINDO COLLEGE OF
COMMERCE AND MANAGEMENT,
LUDHIANA
7/29/2019 Comp Project(1)
3/21
ACKNOWLEDGEMENT
I owe a great many thanks to a great many people who 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 principal DR R.L.BEHL for extending
his support.
JASLEEN POPLI
ASHWYN SOOD
7/29/2019 Comp Project(1)
4/21
INDEX
INTRODUCTION
OBJECTIVES OF THE STUDY
LITERATURE REVIEW
CREATIVE ADVERTISING
APPLICATION OF PRICING STRATEGY
RESEARCH METHODOLOGY
RESULTS & FINDINGS
CONCLUSION
BIBLIOGRAPHY
7/29/2019 Comp Project(1)
5/21
A DETAILED
STUDY
ON
WATCHES
7/29/2019 Comp Project(1)
6/21
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 a
nd positioning them for growth. There is a constant need toinnovate, reinvig
orate, update, recalibrate, or just simply fend off the competition in an effortto 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 importance has become customer centric.
Recognizing the 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 planned
been by Titan Industries Ltd. in order to provide more to its customers.
The company has first gone for change in logo and tagline.
7/29/2019 Comp Project(1)
7/21
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 signi
ficance 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 company
modifies something 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
Repositioning given 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
7/29/2019 Comp Project(1)
8/21
(PR- consultant)
Repositioning is built upon the change unique and differentiated associatio
ns with the brand in some kind of direction, it is about having
abalance between the category party and differentiation when using repositio
n strategies
From these definitions, it is obvious that reposition is about
movingsomething to a newer and hopefully to a more attractive and relevant
position. The purpose of the movement differs with regards to what thecomp
any 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 aco
mpany 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.
7/29/2019 Comp Project(1)
9/21
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 morestylish?
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.
7/29/2019 Comp Project(1)
10/21
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 theexcitement 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
7/29/2019 Comp Project(1)
11/21
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. Bei
ng an Indianmanufacture 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 thewatches 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
7/29/2019 Comp Project(1)
12/21
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 t
he 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,
7/29/2019 Comp Project(1)
13/21
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. Cont
inuous 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 cent
res,which offer showroom-like ambience and comfort.
7/29/2019 Comp Project(1)
14/21
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 gaps in itscommunication
strategy regarding brand repositioning exercises and the further 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
7/29/2019 Comp Project(1)
15/21
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 successful completion of any project and getting genuine results from thatdepends 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.
7/29/2019 Comp Project(1)
16/21
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.
7/29/2019 Comp Project(1)
17/21
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 &
accepting emotions.
Heavy asset in technology, art effect architecture and staff.Focus on new articles for the high-end marketplace.
Weaknesses:
Lack in art effect 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:
7/29/2019 Comp Project(1)
18/21
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 genuineThe 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
7/29/2019 Comp Project(1)
19/21
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 introducedby 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
7/29/2019 Comp Project(1)
20/21
consumer purchase decision will, over time, land the product in consumer
preference sets.
Attaining and sustaining preferences an important step on the road to
gaining brand loyalty Most of the consumers prefer Fastrack watches in
SRM University campus, due to its strong brand image, and the main factor
forcing the customers to buy fastrack watch is advertisements through the
print and electronic media
7/29/2019 Comp Project(1)
21/21
BIBLIOGRAPHY
1) http://www.studyfreak.com/gdHome.php?gd=59
2)http://www.itrc.org.uk/outputs/fta/
3)http://www.vsrdjournals.com/MBA/Issue/2012_07_July/Web/3_Arun_Kr
_Singh_773_Research_Article_MBA_July_2012.pdf
4)http://www.studyfreak.com/gdHome.php?gd=59
5)http://udini.proquest.com/view/efficacy-of-emergency-department-
goid:787900593/
6)http://www.hatch.ca/project_implementation/articles/improving_
%20predictability_fast_track_projects.htm
http://www.studyfreak.com/gdHome.php?gd=59http://www.itrc.org.uk/outputs/fta/http://www.vsrdjournals.com/MBA/Issue/2012_07_July/Web/3_Arun_Kr_Singh_773_Research_Article_MBA_July_2012.pdfhttp://www.vsrdjournals.com/MBA/Issue/2012_07_July/Web/3_Arun_Kr_Singh_773_Research_Article_MBA_July_2012.pdfhttp://www.studyfreak.com/gdHome.php?gd=59http://udini.proquest.com/view/efficacy-of-emergency-department-goid:787900593/http://udini.proquest.com/view/efficacy-of-emergency-department-goid:787900593/http://www.studyfreak.com/gdHome.php?gd=59http://www.itrc.org.uk/outputs/fta/http://www.vsrdjournals.com/MBA/Issue/2012_07_July/Web/3_Arun_Kr_Singh_773_Research_Article_MBA_July_2012.pdfhttp://www.vsrdjournals.com/MBA/Issue/2012_07_July/Web/3_Arun_Kr_Singh_773_Research_Article_MBA_July_2012.pdfhttp://www.studyfreak.com/gdHome.php?gd=59http://udini.proquest.com/view/efficacy-of-emergency-department-goid:787900593/http://udini.proquest.com/view/efficacy-of-emergency-department-goid:787900593/