Footwear from Fastrack

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FOOTWEAR FROM FASTRACK Group 10 Leela Bharat (1011032) Ashok Katta (1011159) Priya Mouli (1011190) Teja Ande (10112290) Syed Hussain (1011365)

Transcript of Footwear from Fastrack

Page 1: Footwear from Fastrack

FOOTWEAR FROM FASTRACK

Group 10Leela Bharat (1011032)Ashok Katta (1011159)Priya Mouli (1011190)Teja Ande (10112290)Syed Hussain (1011365)

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DECISION PROBLEM

MARKETING RESEARCH PROBLEM To identify possible perception gaps in the footwear industry

in India

MANAGEMENT DECISION PROBLEM Whether Fastrack should include footwear in its product

portfolio

Hypothesis – There are perception gaps among the existing brands catering to the footwear category

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MOTIVATION Indian footwear market is expected to growing @

CAGR of 20% from 2008 to 2011. Footwear retailing in India creates plethora of

opportunities for branded players as majority of the market share is from the unorganized sector

Why Fastrack? Adding footwear in FT’s kitty falls in line with its strategy

of “To offer everything the youth needs to be cool” Watches, eye gear, bags, belts Known to add value to fast moving unorganized sector

products and offer at competitive prices

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RESEARCH PLAN

Secondary data analysis regarding the footwear industry and Fastrack brand.

Primary data analysis includes depth interviews, cross tabulation to understand the relationship between various attributes and their importance to the target customers.

Multidimensional Scaling to understand the customers’ perception about different brands and to identify any gap if exists.

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SECONDARY DATA ANALYSIS

Source : Internet and Research ReportsDerivables:Sales of foot wear in organized and unorganized

sector for different types of foot wear(with demo graphics

To whom are fastrack products mainly intended, its definition of youth age group, Its main USP

Primary Data Analysis 1st stage Exploratory Design: In depth Interviews 2nd stage Exploratory design : Online survey

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EXPLORATORY DESIGN- IN-DEPTH INTERVIEW

Main expectations: Buying behavior in footwear(effects of promotion and general buying behavior)

• Required attributes in footwear• What they consider youth products• Association of fastrack• Attributes in fastrack products• Perception among different footwear brands Data Collection Method: 2 panel team; Individual

noting Sample design: Judgmental sampling• Users and non users of fastrack brand( at least 5

each)• Mainly people in college and working professional

with 0-2 years experience after college

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EXPLORATORY DESIGN-ONLINE SURVEYMain expectations: To know about the important

attributes obtained in the In-depth interview on a big scale

Data collection method: Online response

Sample design: convenience samplingPeople in age group (15-19, 20-25, 26-

30) Sample size – 30 (10 from each group)

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EXPECTED OUTPUTS

Whether there is a high preference for shoes to be included in portfolio

Whether there is a un-competed space in the footwear market which Fastrack can exploit

Important attributes in footwear purchase

Awareness level of fastrack brand and its products

Frequency of purchase of fastrack products

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DATA COLLECTED FROM THE SURVEY

Demographics• Information on respondents’ gender, age,

income, occupation

Shopping behavior• Understand the purchase habits of the

respondents and their preference towards promotions

Fastrack brand• Understand brand awareness and product

recall, Fastrack product attributes and purchase interest

Footwear• Brand preference in footwear purchases• Features desired

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NIKE

1 2 3

-80%

-40%

0%

40%

80%80%

60%

-60%

Price

1 2 3

-80%-60%-40%-20%

0%20%40%60%80%

-60%

60%70%

Quality

1 2 360%

65%

70%

75%

80%

85%80% 80%

70%

Variety

1 2 3

-80%

-40%

0%

40%

80%80% 70%

-60%

Coolness

1 2 3

-60%-40%-20%

0%20%40%60%80%

100%

-50%

70%90%

Durability

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REEBOK

1 2 3

-150%

-100%

-50%

0%

50%

100%

150%90% 100%

-100%

Price

1 2 3

-100%

-50%

0%

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100%

-90%

60%90%

Quality

1 2 30%

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70%60%

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70%

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Coolness

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0%20%40%60%80%

-40%

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Durability

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ADIDAS

1 2 3

-60%-40%-20%

0%20%40%60%80%

-40%

60%50%

Durability

1 2 3

-80%

-40%

0%

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80%90%

70%

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Coolness

1 2 30%

20%

40%

60%

80%

100%80% 80%

40%

Variety

1 2 30%

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60%

80%

50%60%

70%

Quality

1 2 30%

20%

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100%80%

70%

40%

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FASTRACK

1 2 30%

20%

40%

60%

80%

100% 90% 90%

70%

Durability1 2 3

0%

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60%

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80%70%

Coolness

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100%120%

90%100%

80%

Variety

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100%120%

90%100%

80%

Quality

1 2 30%

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COMPARISON

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MDS OUTPUT

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PERCEPTION CHART

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ANALYSIS

77% people like fastrack to launch footwear if they plan to increase their portfolio

Reebok-50%, Nike -56% Brand preference in foot wear

High brand awareness in the sample 64% people preferred unbranded footwear over

branded ones – Price being the major barrier Teens and college students- trendy and sporty 67% respondents in income group: 0-2 lakhs

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RECOMMENDATIONS

Encouraging results. Go ahead with descriptive research

Explore the possibility of launching footwear targeting different price segments

Explore opportunities in apparels

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THANK YOU