Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Fastrack analyses the brand by its strengths, weaknesses, opportunities & threats. In Fastrack SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Fastrack to benchmark its business & performance as compared to the competitors. Fastrack is one of the leading brands in the lifestyle and retail sector.
The article below lists the Fastrack SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Fastrack SWOT Analysis:
For Fastrack, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Fastrack looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Fastrack :
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
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Fastrack SWOT Analysis:
1. Intense competition means limited market share of Fastrack products 2. Limited global reach despite being a popular brand
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Fastrack SWOT Analysis:
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
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Fastrack are as mentioned:
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
There are several brands in the market which are competing for the same set of customers. Below are the top 7 competitors of Fastrack:
Fastrack offers stylish & trendy sunglasses & watches for the youth
Trendy and colourful lifestyle accessories
Mid Premium Urban youth
Fastrack is a youth brand for stylish youth owning multiple watches, sunglasses etc
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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