Fastrack SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 9676
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SWOT Analysis of Fastrack with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Fastrack

Parent Company

Titan Industries Limited (Tata Group)

Category

Watches and Accessories

Sector

Lifestyle and Retail

Tagline/ Slogan

Move on

USP

Fastrack offers stylish & trendy sunglasses & watches for the youth

Fastrack STP

Segment

Trendy and colourful lifestyle accessories

Target Group

Mid Premium Urban youth

Positioning

Fastrack is a youth brand for stylish youth owning multiple watches, sunglasses etc

Fastrack SWOT Analysis

Strengths

1. Fastrack has a good Distribution Network – over 100 Fast track stores across 50 towns with Titan Service Centres across India
2. Fastrack has a high youth connect – Positioning as a youth stylish brand

3. Fast changing designs to keep up with latest trends

4. One of the most trusted brands in India
5. Excellent advertising and brand visibility of Fastrack products connecting with the youth
6. Has a diverse portfolio of watches, sunglasses, bags, wallets etc

7. The Fastrack products are available through stores, supermarkets and even ecommerce site

8. Strong backing of parent brand

Weaknesses

1. Intense competition means limited market share of Fastrack products
2. Limited global reach despite being a popular brand

Opportunities

1. Fast growing youth segment presents growth opportunities 
2. Global penetration would help Fastrack brand grow and target youth worldwide
3. Tie-up with fashion houses and special schemes for youth

Threats

1. Youth segment is price sensitive
2. Entry of foreign players has led to tough competition for Fastrack
3. With lots of options available, brand switching is quite high

Competition

Competitors

1. Swatch

2. Casio

3. Timex

4. Titan

5. Diesel

6. Hubolt

7. Citizen


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