Comp Project(1)

7/29/2019 Comp Project(1)

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PROJECT REPORT

ON

COMPUTER BASED

INFORMATION SYSTEM

SUBMITTED TO: SUBMITTED BY:

SIR VIJAY CHABBRA JASLEEN POPLI(1020)

ASHWYN SOOD(1009)

BBA 3


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SRI AUROBINDO COLLEGE OF

COMMERCE AND MANAGEMENT,

LUDHIANA


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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


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INDEX

INTRODUCTION

OBJECTIVES OF THE STUDY

LITERATURE REVIEW

CREATIVE ADVERTISING

APPLICATION OF PRICING STRATEGY

RESEARCH METHODOLOGY

RESULTS & FINDINGS

CONCLUSION

BIBLIOGRAPHY


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A DETAILED

STUDY

ON

WATCHES


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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.


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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


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(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.


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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.


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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


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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


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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,


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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.


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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


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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.


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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.


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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:


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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


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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


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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


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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/

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