Footwear from Fastrack
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Transcript of Footwear from Fastrack
FOOTWEAR FROM FASTRACK
Group 10Leela Bharat (1011032)Ashok Katta (1011159)Priya Mouli (1011190)Teja Ande (10112290)Syed Hussain (1011365)
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
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
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.
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
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
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)
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
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
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
REEBOK
1 2 3
-150%
-100%
-50%
0%
50%
100%
150%90% 100%
-100%
Price
1 2 3
-100%
-50%
0%
50%
100%
-90%
60%90%
Quality
1 2 30%
20%40%60%80%
100%120% 100%
70%60%
Variety
1 2 3
-80%
-40%
0%
40%
80%90%
70%
-70%
Coolness
1 2 3
-60%-40%-20%
0%20%40%60%80%
-40%
70% 70%
Durability
ADIDAS
1 2 3
-60%-40%-20%
0%20%40%60%80%
-40%
60%50%
Durability
1 2 3
-80%
-40%
0%
40%
80%90%
70%
-60%
Coolness
1 2 30%
20%
40%
60%
80%
100%80% 80%
40%
Variety
1 2 30%
20%
40%
60%
80%
50%60%
70%
Quality
1 2 30%
20%
40%
60%
80%
100%80%
70%
40%
Price
FASTRACK
1 2 30%
20%
40%
60%
80%
100% 90% 90%
70%
Durability1 2 3
0%
20%
40%
60%
80%
100%
50%
80%70%
Coolness
1 2 30%
20%40%60%80%
100%120%
90%100%
80%
Variety
1 2 30%
20%40%60%80%
100%120%
90%100%
80%
Quality
1 2 30%
20%
40%
60%
80%
100%
70%
90%
60%
Price
COMPARISON
MDS OUTPUT
PERCEPTION CHART
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
RECOMMENDATIONS
Encouraging results. Go ahead with descriptive research
Explore the possibility of launching footwear targeting different price segments
Explore opportunities in apparels
THANK YOU