Innovative Brands which have been motivating consumers emotionally thus brands have become almost personified. MBA aspirants are expected to know the success story of brands.
This general awareness article on a growth story of ‘Fastrack ’ will help you in WAT/Essay/GD and PI also.
Read: Fastrack … An exciting Brand !!
Fastrack connects as a youth brand instantly. The brand has been in the market since 1998 under the parent brand TITAN. Titan played it smart by launching a sub-brand that was totally dedicated to youth and the brand was ‘Fastrack’. With a motto to target its customers with products that are affordable, stylish and durable, the brand soon became popular among the youth.
Started with stylish and funky watches, the brand now has a wide range of youth accessories like bags, eyewear, wallets, belts and even helmets. The brand has always stick to targeting youth as so their products focus on vibrant colors, latest trends, different collections and last but not the least, a price that youth of can easily afford.
The brand is no more overshadowed by its already much popular and reliable parent brand ‘Titan’ which helped it launched initially as in 2005 Fastrack successfully established itself as an Independent youth brand. Fastrack has been very careful in maintaining its promise of being a fashionable, reliable and affordable brand which has been the reason of its success too.
Fastrack: what made it popular and successful?
• Advertising: With its advertising strategy the brand made a mark for itself. With ads that targeted youth and reflected their attitude, made Fastrack a popular brand name. Some of its famous ads with witty taglines like ‘move on’ and ‘how many you have men’ are key popularity generators.
• Motto: The motive of the right from the start was to target youth with accessories that are fashionable, durable and affordable. The brand indeed fulfilled its promises by introducing funky, edgy and unique accessories to its collections time to time.
• Products: Fastrack started mainly as a brand for stylish watches but once it gained popularity it lured the target customers by adding more youth oriented accessories like sunglasses, caps, bags, belts, wristbands, helmets etc. to get hold of its customers.
• Marketing: The brand played with marketing smartly by launching accessories under different collection names to tap youth of various interest like ‘ army collection’, ‘denim collection’, ‘smartees collection’, ‘Explorer collection’, ‘Beach collection’ and much more.
• Availability: The brand has made it accessible as it has exclusive retail stores in all major cities and the brand is also available on TITAN stores across the country. The brand also has exclusive kiosks in various malls and chain stores like Shoppers’ Stop, Lifestyle, and Big Bazaar etc.
Fastrack has been literally trying all the ways to keep its current customers intact and bring in more by its new products. The recent development includes:
• The brand plans to become a 100-store retailing brand that is spread across different cities in India.
• The brand also plans to foray into bicycles. The plan is to make available good quality trendy bicycles at affordable rates.
• The brand also plans to go international; the company believes that the considerable demand of its products is seen in foreign markets as well as in the countries where there is sizeable Indian population.