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Brand Tracker- Fastrack

Brand Tracker- Fastrack

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Published by: uma.8987 on Sep 20, 2009
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04/16/2013

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Praxis Business School
BRAND TRACKERPhase I – Image Measurement 
 A report Submitted to
Prof. GovindrajanIn partial fulfillment of the requirements of the course
Product and Brand Management 
On 1
st
August 2008
ByHarish DalwaipattanB07020Sampat BhansaliB07035Sonam SahuB07040Vijay LeonB07047
 
2
BRAND TRACKER
Executive Summary
Fastrack was launched in 1998 as a sub-brand of Titan. The brand enteredthe market saturated with International designer labels and has carved aniche for itself in the youth accessories market (watches and sunglasses),with designs that are refreshingly different, casual, eclectic & fun with pricesthat don’t burn a hole through the pocket. Targeted at Generation Next, the brand captures the essence and philosophyof today’s fun loving, free spirited youth through the new positioningencapsulated in a tongue in cheek colloquial phrase - “How many you have”?Fastrack is positioned as the ultimate fashion accessory for the youth variety, multiplicity and constant excitement being the order of the day. Thebrand revealed a new logo signifying the spirit of bonding among today’syouth.In the following report, we have attempted to determine the status of thebrand in terms of brand strength and stature through a variant of the famousBrand Asset Valuator model. Also, a qualitative research was conducted toidentify the brand personality of Fastrack. Laddering techniques of qualitative research has been undertaken. The BAV model measures the value of a brand along four dimensions -Differentiation, Relevance, Esteem, and Knowledge. Differentiation andRelevance build up to Brand Strength, while Esteem and Knowledge are usedto calculate Brand Stature. For the BAV analysis, a judgment sample of 40watch users has been surveyed through a questionnaire tool.Fastrack scored high on all dimensions. The only concern, if any, is that theesteem for Fastrack is low as compared to its knowledge, which brings thestature score down. Consumers have high knowledge about the product, it ishighly differentiated in its category and consumers see the brand as beingrelevant to their want. With lower esteem scores, there is a probability thatconsumers may switch over to other brands. This may lead to a decline inthe leadership position of the brand which it currently is maintaining. Themain competitors for Fastrack came out to be Timex and Swatch.Laddering refers to an in-depth, one-on-one interviewing technique used todevelop an understanding of how consumers translate the attributes of products into meaningful associations with respect to self. Ladderingprovides an association of networks between the attributes, consequencesarising out of them and the values inherent in them to representcombinations of elements that serve as the basis for distinguishing between
BRAND IMAGE MEASUREMENT 
 
3
BRAND TRACKER
and among products in a given product class. 8 one-on-one interviews weretaken to understand the values consumers attach to a watch.Four values – Belonging, Esteem, Acknowledgement and Trust, emerged fromthe interviews. Fastrack’s current positioning seems to be almost suitable tothe target groupsexpectations. Though there clearly is a category forelegant and formal watches, going by its past experiences; Fastrack shouldnot mix that in to its current positioning of a college goers’ watch.
Table of Contents
Brief History of Fastrack ..............................................................................................4Launch and Initial Positioning ..................................................................................4Subsequent Repositioning .......................................................................................4Current Status .........................................................................................................5Instruments of Data Collection ...................................................................................6Brand Asset Valuator Model........................................................................................7Questionnaire .............................................................................................................8Results and Analysis of BAV ...................................................................................10Laddering Method .....................................................................................................13Reasons for choosing laddering technique ...............................................................18Laddering Exercise for Fastrack brand of watches ....................................................18Summary Content Codes for Fastrack brand of watches .......................................19Hierarchy Value Map ..............................................................................................19Conclusion of Laddering ........................................................................................20BIBLIOGRAPHY ..........................................................................................................21
BRAND IMAGE MEASUREMENT 

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"Time have changed and India moving forward with the time. World globalization and free market economies offers competition in different areas. lets say Tata have a long ways to compete with Ford, but Fastrack sunglasses can easily compete with other sunglasses manufacturers in USA or Europe." http://fasttracksunglasses.blog.com/f...
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