TO STUDY THE CONSUMER BUYING BEHAVIOUR TOWARDS INDIAN AND FOREIGN BRANDED WATCHES

TABLE OF CONTENTS
S. No. Contents CHAPTER - 1 INTRODUCTION 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 Consumer Buying Behaviour Page No.

Definition of Watch History of Watches Definition of Brands The emergence of brands What is Branding Characteristics of a good brand name Some famous brands of watches Need of the study CHAPTER - 2 REVIEW OF LITERATURE

2.1 2.2 2.3

Definition of Review of Literature Literature review must dos Reviews CHAPTER - 3 OBJECTIVES OF THE STUDY

3.1 3.2 3.3 3.4

Definition of objectives Types of objectives Rules for well written project objectives Objectives of the study CHAPTER - 4 RESEARCH METHODOLOGY

4.1 4.2 4.3 4.4 4.5

Definition and process of research methodology Nature of research Data collection Population / Universe Sampling plan

4.6 4.7

Statistical tools Limitations of the study CHAPTER - 5 DATA ANALYSIS & INTERPRETATION

5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.9 5.10 5.11 5.12 5.13

Analysing the awareness about various Indian brands of watches available Analysing the awareness about various foreign brands of watches available Analysing type of watch preferred Analysing the frequency of purchase of Indian branded watches Analysing the frequency of purchase of foreign branded watches Analysing the purpose of purchasing a watch Analysing whether details are asked before buying a watch Analysing the confidence in buying a watch alone Analysing the demand for certification / warranty Analysing the type of watch preferred for gifting purpose Analysing the attributes considered while purchasing a watch Analysing whose decision is mainly dominated while buying a watch Analysing the behaviour to change the watch if some one else has same watch CHAPTER - 6 RESULTS & FINDINGS CHAPTER - 7 BIBLIOGRAPHY CHAPTER - 8 APPENDIX (Questionnaire)

CHAPTER - 1 INTRODUCTION

TITLE

STUDY OF CONSUMER PURCHASE BEHAVIOUR TOWARDS INDIAN & FOREIGN BRANDED WRIST WATCHES

INTRODUCTION TO THE PROJECT

1.1 WATCH

A watch is defined as a spring driven timekeeper, small enough to carry on a person. Generally, this group would contain early watches worn on a chain around the neck, pocket watches, and then wristwatches.

1.2 HISTORY OF WATCHES

Time is considered one of our most valuable assets. Evolution of Watch

The keeping of time goes all the way to the beginning of the civilization. Both historians and archaeologists believe that stationary and portable sun-dials were probably developed in Egypt and Mesopotamia.

The oldest extant sun-dials can be found in Egypt and dates back to 1500 BCE. We know that the early Egyptians used the pyramids as well as the obelisks as a fore runner to the sundial

It is said that one of the first watches was created in Italy around 1524 CE. The main problem for portable time keeping before the 1600s was the lack of driving power. Timepieces of that era were typically driven by weights making it very difficult for portable use. The inaccuracy of timepieces in this era was very common and most watches only had one hand that had to be wound at least twice a day.

It was not until 1675 CE that the implementation of a spiral balance spring changed timekeeping forever by taking timekeeping accuracy from fractions of an hour to fractions of a minute. It was then a second hand was added to the watch. At this time Roman numerals were added to mark the minutes. Eventually, due to rapid development, a watch would only have to be wound once a day instead of every twelve hours.

With respect to mechanical improvements, the main milestone of watch evolution can be stated as: Prior to 1600 The Earliest Watches 1600-1675 The Age of Decoration. 1675-1700 The Balance Spring. 1700-1775 Steady Progress

 1775-1830 The First Chronometers 1830-1900 - The Era of Complications 1900 on Metallurgy to the Rescue

Prior to 1600: The Earliest Watches

1485: Leonardo da Vinci sketches a fusee for a clock. 1500s: Germany: Peter Henlein creates the first pocket watch.

1600-1675: The Age of Decoration

Early 1600s: Form watches becoming popular. Cases are shaped like animals and objects. Religious themes are popular. 1635: Around this time that the fusee was adapted from clocks to watches. 1659 - 1675: Christian Huygens invents the "Remontoire".

1675-1700: The Balance Spring

1687: Daniel Quare patents the repeating mechanism that uses bells to sound quarter hours and the hours.

1700-1775: Steady Progress

1704: Peter and Jacob Debaufre, Nicolas Facio, are the first to use rubies in watch movements.

1750: Watch makers began using enamel on watch dials. 1759: Thomas Mudge invents the English lever escapement. 1775: Abraham Louis Breguet sets up his own watch making shop in Paris, France.

1775-1830: The First Chronometers

1780: Abraham Louis Perrelet invents the self winding movement. 1786: Breguet is the first to use guilloche on watch dials. 1791: J.F. Bautte founded the watch company that would eventually become GirardPerregaux. 1807: Thomas Young invents the recording chronograph. 1809: Luther Goddard of Shrewsbury, Massachusetts is the first watch manufacturer in America. 1830: Thomas Prest registers a patent for the self winding watch.

1830-1900: The Era of Complications

1833: Antoine LeCoultre starts his own watch making business which later becomes Jaeger-LeCoultre. 1837: First Tiffany store opens. 1843: Adrien Philippe develops a watch with winding and setting through the crown. 1844: The start, stop, and reset chronograph is invented by Adolph Nicole. 1844: Antoine LeCoultre invents the million metres.

1848: Louis Brandt opens his own workshop in La Chaux-de-Fonds which eventually became the Omega Watch Company. 1853: Tissot makes the first dual time zone watch. 1858: Minerva is founded. 1860: Heuer is founded. 1865: Zenith founded. 1881: Movado founded. 1884: Greenwich, England is officially named the zero meridians and used as the world wide recognized basis of time zones. 1886: Geneva Seal established. 1894: Universal Geneva established.

1900 Onwards Metallurgy to the Rescue

1905: Hans Wilsdorf starts the Rolex Watch Company. 1914: Eterna introduces the first wristwatch with an alarm. 1918: Japan: Shakosha Watch Company opened. This would become Citizen in 1931. 1923: John Harwood is the first to mass produce a self winding wristwatch. 1924: Tokyo: Seiko brand name is launched by Kinttaro Hattori. 1926: Rolex introduces the first waterproof case called the "Oyster". 1929: First anti magnetic watch created by Tissot. 1933: Ingersoll introduces the "Mickey Mouse" watch.

1956: Rolex introduces their first model that displays the day and date. 1957: Hamilton introduces the world's first battery driven watch. 1962: Rado produces the world's first scratch proof watch called the "Diastar 1". 1962: ETA of Switzerland develops the first quartz battery operated watch. 1970: Hamilton releases the "Pulsar", the first electronic digital watch. 1972: Longines and Seiko introduce the LCD, (Liquid Crystal Display). 1980: Hublot founded. 1983: SMH of Switzerland launches the Swatch brand. 1985: Swiss Heuer Company merges with TAG to form TAG Heuer. 1986: Audemars Piguet introduces the first self winding tour billon. 1991: Franck Muller founded. 1999: Casio innovates with the first wristwatch with a built-in Global Positioning System (GPS).

1.3 BRANDS
Brands were originally developed as labels of ownership: name, term, design, and symbol. However, today it is what they do for people that matters much more, how they reflect and engage them, how they define their aspiration and enable them to do more. Powerful brands can drive success in competitive and financial markets, and indeed become the organization's most valuable assets.

1.4 THE EMERGENCE OF BRANDS

In the field of marketing, brands originated in the nineteenth century with the advent of packaged goods. The first registered brand was the red triangle registered by Bass beer, as the British were the first to introduce a law for trade mark registration. Industrialization moved the production of household items, such as soap, from local communities to centralized factories. When shipping their items, the factories would brand their logotype insignia on the shipping barrels. These factories, generating mass-produced goods, needed to sell their products to a wider range of customers, to a customer base familiar only with local goods, and it turned out that a generic package of soap had difficulty competing with familiar, local products. The fortunes of many of that era's brands, such as Uncle Ben's rice and Kellogg's breakfast cereal, illustrate the problem. The packaged goods manufacturers needed to convince buyers that they could trust in the non-local, factory product. Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats, were the first American products to be branded to increase the customer's familiarity with the products. Around 1900, James Walter Thompson published a house advert explaining trademark advertising, in an early commercial description of what now is known as 'branding'. Soon, companies adopted slogans, mascots, and jingles that were heard on radio and seen in early television. By the 1940s, Mildred Pierce manufacturers recognized how customers were developing relationships with their brands in the social, psychological, and anthropological senses. From that, manufacturers quickly learned to associate other kinds of brand values, such as youthfulness, fun, and luxury, with their products. Thus began the practice of 'branding', wherein the customer buys the brand rather than the product.

1.5 WHAT IS BRANDING?

Branding is the foundation of marketing and is inseparable from business strategy. It is therefore more than putting a label on a fancy product. Nowadays, a corporation, law firm, country, university, museum, hospital, celebrity, and even you in your career can be considered as a brand. As branding is deeply anchored in psycho-sociology, it takes into account both tangible and intangible attributes, e.g., functional and emotional benefits. Therefore, those attributes compose the beliefs that the brand's audience recalls when they think about the brand in its context. The value of a brand resides, for the audience, in the promise that the product or service will deliver. Clearly, a brand can recall memories of a bad experience. The value for the audience then would be to avoid purchasing that brand. From the perspective of the brand's owner, the value of the brand often lies in the security of higher future earnings, but may also be assessed in terms of votes for a politician, career for an executive, foreign direct investment (FDI) for a country, etc. In conclusion, branding is the blend of art and science that manages associations between a brand and memories in the mind of the brand's audience. It involves focusing resources on selected tangible and intangible attributes to differentiate the brand in an attractive, meaningful and compelling way for the targeted audience.

1.6 CHARACTERISTICS OF A GOOD BRAND NAME

# Short, sweet and easily pronounced The ideal name for customers to remember, and for you to use to cut through the industry noise, is probably short and sweet and easily pronounced. This means it will have two or three syllables (or even one), and it will work on the phone or internet even if people have never seen or heard it before. If they have to be told how to spell it once, that is OK (and may even help with recall). But if they have to be told a second time, that is a problem. One of the sticky consonants (k, q, x, z) can help with recall. # Unique with in its industry Your name doesn't need to be weird or clunky, but it does need to not sound like all the rest of your direct competitors. HotJobs.com, BAJobs.com, Careers.com, CareerJunction.com, LocalJobs.com are all easily lost in the crowd. But Monster.com stands out dramatically - even though it does not describe what they do! In practice, it has become brand shorthand for job searches, just like Starbucks has become shorthand for coffee. # Legally available and defensive Your lawyers think this should be item one of course. Regardless, what is the point of starting any company or marketing campaign if you cannot have full rights in the name? Your best defence is always a magic - which only can be issued by the USPTO (or equivalent agency in other countries). If the USPTO won't issue a registration certificate because they judge it to be generic, then you have problem (2) above anyway. Common law trademark searches are also critically important. # Good alliteration, especially if a longer name Sometimes a longer name does have a place in marketing. After all, the most famous brand in the world, Coca Cola, is four syllables. But notice how smoothly it rolls off the tongue. Linguists will tell you it has good alliteration.

# Does not lend itself to abbreviations If you have a long descriptive name, people will abbreviate it quickly. OK, we know it worked for IBM, AT&T, CBS etc., but how many years and how many branding dollars do you have? For a small company, this means you quickly become YASI (Yet another Set of Initials) and drown in the initial bit bucket. At least make sure the trademark part (brand part) of your trade name is a name and not initials. E.g. Ford is the trademark for Ford Motor Car Company. Leave FMCC etc. to the legal documents only. But who or what are AMA, CCI, etc.? # Flexible and expandable Too many people try to describe their company rather than name it. Copyland, Copy data, Copy shop, Quick Copy all define what they do - and are barely distinguishable from one another. But Kinkos stands out dramatically and did not pigeonhole them into only copy services. Today, of course, they are FedEx Kinkos, and can offer a raft of services without needing to update their name, unlike Texas Instruments that doesn't even make instruments. # Linguistically clean What are the root origins of the name? How is it pronounced by a Spanish, Italian, Japanese, Portuguese or French native speaker? What does it mean in these languages? You need to support these languages just to do business in North America nowadays, especially in the populous areas of California, New York, Texas, Illinois, Florida and Canada. # Will not age quickly Is your name hip and topical? If you are in the fashion trend business this might be fine. But otherwise, be very careful of "in" words or expressions. They will be superseded sooner or later. They may also not play well across all demographics. Many markets have their own "industry-speak" and slang. The worst of these are in "geekdom"! Names with classical roots tend to endure more easily.

# Embraces company personality Two competitors, entering the same market at the same time with directly competing products, will pick different names because every company and management team has its own personality. This means the executives must be involved in the decision making process. Your agency can tell you if the name fits, not if you are comfortable with it. # Fits with in companys brand portfolio The company name, division names and product names are all part of your brand portfolio. Do these sounds like they all come from the same family? While this is a specific problem with merged companies, everyone's naming architecture needs to be properly managed to maximize your brand power and intellectual property portfolio.

1.7 SOME FAMOUS BRANDS OF WATCHES

There are some big brands of wrist watches that are worth mentioning. They are: Titan, HMT, Maxima, Timex, Rado, TAG Heuer, Omega, Cartier, Rolex, Mont Blanc, etc.

TITAN

Titan, a name that is synonymous with watches today. The company was established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation. Titan was launched at a time when cheap watches were

flooding the Indian market. It has grown to become the largest watch manufacturer in India and the sixth largest in the world. The company manufactures more than nine million watches every year, has a customer base of over 80 million, and accounts for 60 per cent of India's organised watch market. A Titan pretty much stands for reliability, durability and to a great extant style. The brand is not focused on a single segment either. Titan has launched its Titan Ultra Slim which is virtually invisible. With an incredibly slim movement of 1.15 mm, the Titan Ultra Slim is the slimmest watch in the universe, a mere

3.6 mm. and now Titan has launched its brand new watch Octane.

HMT

HMT started manufacturing Wrist Watches since 1962 and today they have four integrated manufacturing units, employing highly skilled work force, producing over 7 million high quality watches/Watch movements per annum in hundreds of designs, in Mechanical and Quartz. The technology for the manufacture of Watch Movements and Watches has been acquired from Citizen, Japan. HMT Watch manufacturing units have ISO-9001 certification. HMTs products conform to absolutely rigid quality standards and are well accepted in the international market. They are regularly exporting their Watches/Watch Movements to countries in the Middle East, South East and Japan. HMT Watches are Master Pieces in Engineering Excellence and are designed to give years of trouble free service.

MAXIMA

Maxima was born in 1996 out of the vision to serve the economically weak segments of the society. Until then, the vast majority of people had the option of buying either an expensive wristwatch at above Rs 500 or be fleeced by the smuggled or duplicate watches selling at throwaway prices but with no assurances of quality or service. Maxima was the result of a vision to serve this vast majority through a product that was accurate, reliable, guaranteed for quality, backed by after sales service, a national brand but more importantly honestly priced at Rs 350. The success of their single point communication of "India's first guaranteed waterproof watch at Rs 350" has created history of sorts in establishing high brand awareness and recall amongst our target audience.

TIMEX

The Timex Corporation is a privately owned company headquartered in Middlebury, Connecticut, USA with affiliate offices located throughout North America, South

America, Europe, and Asia. For over 150 years, Timex has been providing innovative, well-designed, affordable, and reliable timepieces. With hundreds of styles among its Fashion, Sports, Outdoor and Youth lines, Timex is the largest selling watch brand in America and has sold more than one-billion watches worldwide. In addition to its flagship Timex brand, the Timex Group also manufactures, markets and distributes internationally several other owned / licensee brands like Guess, FCUK, Opex Paris, Nautica, Timberland, and the luxury major Versace.

Brand Timex is well-known in India for its sporty, techie and fashionable watches.

RADO

Formed in 1917, Rado initially produced watch movements only. In 1957 the company launched its first collection of watches under the Rado brand. In 1962 the Rado Diastar Original, the world's first scratch-proof watch, was launched. It has been in production ever since. Rado differs from some of the more traditional Swiss watchmakers in that it often uses unconventional materials and designs. Rado watches vary in pricing according to model, age and materials but generally a Rado will range from about US $400 to about US $28,000 for a watch made from the more precious materials.

TAG HEUER

TAG Heuer watches are recognizable for its authentic style a unique combination for performance, elegance and sportsmanship. Conventional and avant grade materials are used with intelligence to create simple yet distinctive lines of TAG Heuer watches. TAG Heuer watches are also known for their firmly modern design. The list can go endless. From spilt-second chronographs to moon phase calendars, musical chimes to minute repeaters, ultra slim cases to stylish power- reserve indicators, theres virtually no end to the complexities watchmakers can crowd onto a dial. The expensive watches are seen to be worn by prestigious people and nowadays it is also found common in some rich and upper middle class families. There can be an array to the list of expensive watches.

1.8 NEED OF THE STUDY

Branded watches as fashion accessory is still in small portion, but is growing at a tremendous pace. The project has been undertaken to study the consumer buying behaviour towards Indian and Foreign branded watches and what all factors do they consider while purchasing watches.

CHAPTER - 2 REVIEW OF LITERATURE

REVIEW OF LITRATURE
2.1 DEFINITION: - A literature review is an account of what has been published on a topic by accredited scholars and researchers. It is part of the introduction to an essay, research report, or thesis. In writing the literature review, the purpose is to convey to the reader what knowledge and ideas have been established on a topic, and what their strengths and weaknesses are. As a piece of writing, the literature review must be defined by a guiding concept (e.g., the research objective, the problem or issue discussed, or the argumentative thesis). It is not just a descriptive list of the material available, or a set of summaries.

2.2 LITERATURE REVIEW MUST DO THESE THINGS Be organized around and related directly to the thesis or research question one is developing. Synthesize results into a summary of what is and is not known. Identify areas of controversy in the literature. Formulate questions that need further research.

2.3 REVIEWS Bearden and Etzel (1990) shed light on the ability of reference groups to affect the importance of the brand image among types of goods. In their study, goods were divided into luxuries and necessities and social group influences were hypothesized to affect brand decision through the locus of where a product was used in private or public. Private goods are items such as mattresses that are not viewed by others and are, thus, less susceptible to social influence; where public goods such as televisions may be very susceptible to social influences. Consequently, brands are more important for public goods than private goods.

Shergil and Kaur (1998) found that buying behaviour of customers is focused to vary according to socio economic background. Though price is the main consideration for most of the customers, the higher income group respondents are found to be more quality conscious. Moreover, loyalty to a particular brand plays a major role in brand switching.

Jacob (2003) found that consumers faced with selection decisions find the brand name to be the most useful piece of information in making a selection. When offered a choice of brand name, price, or other product attribute information, respondents chose brand name first and price second. At this point, brands have become shot hand devices created by consumers to enable them to make product selections quickly, efficiently and on the basis of relevant information. In short; the brand name alone has become a decision- making heuristic.

Srivastava and Sengupta (2004) conducted a survey of 200 consumers A peep into mindset of consumers: - A study on mens personal products and found that: Habit is the most important factor to influence purchase decision of customers. Only social groups had some effect over purchase decision. Advertisements didnt much effect in this respect. Influence of cheap price as well as sales promotion technique is not much significant.

Verma (2005) in her survey Brand preferences of selected Skin Care brands:- A case study of Ludhiana city made the following conclusions: As regards awareness level of different brands of skin care products, maximum number of respondents is aware of Lakme brand, followed by Oriflame, Revlon, LOreal, and least are aware of Aviance.

 As regards consistency and change in brand of skin care products is concerned, 54% Respondents said they are consistent with brand they use, mainly because they are habitual with brand and they get value out of brand they use, while 46% said they like to change brands. Regarding source of information of skin care products is concerned, television was found to be main source of information. Regarding influence of respondents, majority said they were influenced by peers and friends. Regarding attributes considered while purchasing skin care products, maximum importance was given to price and quality. Ingredients and brand are also important to them. Packaging was the least important attribute.

Chauhan (2008) found that in todays era of cut-throat competition, differentiating brands on the basis of certain Unique selling proposition (USP) cannot suffice; rather, building a long term relationship with the customers by involving them with the brands is more important.

Ganapathy (2008) in his article stated that the customers choice is unpredictable at the time of the rejuvenation of the brand. Any change in the brand image might or might not be welcomed by the customer. The risk of the consumer not accepting the radical change is quite but when the customer welcomes it, sales are boosted.

Malapur (2008) in her article stated that when a customer is exposed to a particular brand for a long period of time the brand identity becomes monotonous and predictable. If strategist can come up with new ideas that the consumer will not expect, the vigor and the youth of the brand is maintained. For example Titan had introduced a brand called Fastrack that was targeted at the youth and has a trendy look the look of every fastrack watch is very different from the other Titan watches.

Thus, when a new model is introduced different from the existing models under the brand the customer gets a relief from the monotony of the existing brand image.

Pandey (2008) stated that a product or service cannot make a leap from being a commodity to a brand unless an ideational dimension is added to it and this is true of retail too. Branding is a strategic point of view, not mere select set of activities. It is central to create customer value, not just image. It is a key tool for creating and maintaining competitive advantages.

Vinitha (2008) in her study concluded that a customer who is a brand loyal will purchase the same brand over an over again and will also convey a good image about the company. The true brand loyal is willing to buy the brand at what ever cost it is available.

CHAPTER- 3

OBJECTIVES OF THE STUDY

OBJECTIVES
3.1 DEFINITION: - Objectives are specific, measurable, short-term, and observable. Objectives are not the sum of education, but pre-requisites, or foundations, for the higher goal of conversancy with the field. Objectives provide an organized pathway that will make it possible to meet the higher goals. Objectives are usually specific statements (they are actually a particular kind of goal) that contribute to the achievement of "bigger" goals. In other words they are actually goals, but they are more specific. Another term for objectives within a strategic planning framework is to call these "enabling goals", since, if you hit all your objectives, they will contribute to the achievement of the larger strategic goal(s), they enable.

3.2 TYPES OF OBJECTIVES Cognitive: understandings, awareness, insights (e.g., "List and explain..."). This includes information recall, conceptual understanding, and problem-solving. Psychomotor: special skills (e.g., "dissect a frog so that the following organs are clearly displayed..."; "take a replicable blood pressure reading by appropriately using a sphygmomanometer"). Affective: attitudes, appreciations, relationships.

3.3 THE RULES FOR WELL WRITTEN PROJECT OBJECTIVE Use "to" + action verb + single quantifiable result + measurement indicator + time frame. Objectives are brief statements that define exactly what you wish to accomplish. Objectives clearly state a single purpose. Use as many objectives as you need.

 Make objectives quantifiable when possible by using such indicators as quantities produced, frequency and accuracy. Incorporate cost, time, and technical specifications in the objectives. Concentrate only on end products, not benefits or evaluations. Writing specific and measurable project objectives is critical to your task definition and planning.

3.4 OBJECTIVES OF THE STUDY

To study variety of watches available. To study what utility does a watch offer. To study the preference of consumer while purchasing a watch. To study impact of additional benefits offered on decision to purchase. To study factors motivating a consumer to buy. To study the satisfaction level in the consumer regarding the watch they are using. To study brand loyalty.

CHAPTER - 4

RESEARCH METHODOLOGY

RESEARCH METHODOLGY
4.1 DEFINITION: - The research methodology explains the methods followed in carrying out the research, methods of collecting information, population, research instruments used as well as the limitations of the present study. It is the way of systematically solve the research problem. The main process of research methodology is given below:

To define the research problems and objectives

Review concept and theories

Research design including sample design

Collection of data survey

Analysis of data

Interpretation and report writing

4.2 NATURE OF RESEARCH / RESEARCH DESIGN A research design specifies the methods & procedures for conducting a particular study. This is an Exploratory Research.

4.3 DATA COLLECTION The data to be collected is the composition of the primary data and secondary data. Primary data is collected through structured questionnaire in Ludhiana. Secondary data is collected from various, journals, reports, magazines, and websites.

4.4 POPULATION / UNIVERSE Keeping in view the time and resources constraints the population was restricted in following areas: All the adults who are residents of Ludhiana with age group 15-30 years

4.5 SAMPLING PLAN Sample unit an adult who is a resident of Ludhiana. Sample size consisted of 100 respondents. Sample technique convenience sampling is used to collect the sample.

4.6 STATISTICAL TOOLS Data Analysis & Interpretation Classification & tabulation transforms the raw data collected through questionnaire in to useful information by organizing and compiling the bits of data contained in each questionnaire i.e., observation and responses are converted in to understandable and orderly statistics are used to organise and analyse the data: Simple tabulation of data using tally marks. Calculating the percentage of the responses. Formula used = (name of responses / total responses) * 100 Graphical analysis by means of pie charts, bar graphs etc.

4.7 LIMITATIONS OF THE STUDY The size of sample is restricted to 100 respondents only. The results of the study are based upon the survey of the people living in Ludhiana. A general limitation of study relates to inadequacy and incompleteness of secondary data about the wrist watch market. Some of the respondents were not willing to give information, so some of the data may be biased.

CHAPTER - 5

DATA ANALYSIS & INTERPRETATION

DATA ANALYSIS & INTERPRETATION

Q1. Which type of wrist watch do you like to wear? TYPES Sports watch Digital watch Single strap Chain watch Bracelet watch Others TOTAL NO. OF USES 20 6 18 32 16 8 100 PERCENTAGE 20 6 18 32 16 8 100

8% 16%

20% 6%

32%

18%

Sports watch Chain watch

Digital watch Bracelet watch

Single strap Others

Interpretation: Out of 50 respondents 20% prefer Sports watch, 6% prefer Digital watch, 18% prefer single strap, 16% prefer Bracelet watch and 32% prefer Chain watch whereas 8% prefer other watches.

Q2. You prefer your watch as?

(a) (b) (c)

A necessity An Accessory Any other

54% 46% 0%

Interpretation: Out of 50 respondents, 54% prefer watch as a necessity and 46% prefer watch as an accessory.

Q.3. Do you prefer a cell phone over your watch for referring to time?

(a) (b)

Yes No

42% 58%

Interpretation: Out of 50 respondents, 42% prefer cell phone over their watch
and 58% don't prefer the same.

Q.4. What features do you consider while purchasing a watch? (a) (b) (c) (d) (e) Quality Brand Image Price Style Design 25% 19% 12% 34% 10%

Interpretation: Out of 50 respondents, 25% considered quality as a first preference 19% prefer brand image, 12% prefer price, 34% prefer style and 10% prefer Design.

Q.5. Does warranty impact your purchase decision of a watch? (a) (b) (c) (d) Priority with me Often Rarely Does not affect 22% 38% 16% 24%

Interpretation: Out of 50 respondents, 22% prefer priority with me, 16% prefer rarely, 38% prefer often and 24% does not affect.

Q.6. Which brand of watch you are currently using? (a) (b) (c) (d) (e) Titan Timex Tag heuer Fast Track Others 44% 16% 13% 15% 12%

45% 40% 35% 30% 25% 20% 15% 10% 5% 0%

44%

16% 13%

15% 12%

Titan

Timex

Tag heuer

Fast Track

Others

Interpretation: Out of 50 respondents, 44% prefer titan, 16% prefer timex, 13% prefer tag huer, 15% prefer fast track and 12% prefer others watches.

Q.7. Do the following offers impact your purchase? (a) (b) (c) (d) (e) Discount Buy one get one free Free gift Scratch card Any other 38% 19% 22% 11% 10%

10% 11% 38%

22% 19%

Discount Scratch card

Buy one get one free Any other

Free gift

Interpretation: Out of 50 respondents, 38% are those for whom discount impact their purchase, 19% are those who prefer buy one get one free offer, 22% prefer free gift, 11% prefer scratch cards and 10% are those prefer other offers.

Q.8. Does the publicity of watches affect your buying decision? (a) (b) (c) Yes No Any other 65% 35% 0%

0%

35%

65%

Yes

No

Any other

Interpretation: Out of 50 respondents 65% are those for whom publicity of watches affect their buying decision and 35% are those for whom publicity doesn't affect.

Q.9. What motivated you to make your purchase? (a) (b) (c) (d) (e) (f) Sell Decision Friends/ Family Hoardings/ Banners Electronic Media Newspaper/ Magazines Any other 55% 20% 2% 12% 10% 1%

60% 50% 40% 30%

55%

20%

20%
12% 10% 1% Electronic Media New spaper/ Magazines Any other

10%
2%

0%
Sell Decision Friends/ Family Hoardings/ Banners

Interpretation: Out of 50 respondents, 55% are those for whom self decision motivate them for their purchase, 20% are for Friends and Family, 2% are for hoardings and banners, 12% are for electronic media, 10% are for newspaper and magazines and 1% are for other factors.

Q.10. Are you satisfied with the brand you are using? (a) (b) Yes No 96% 4%

4%

96%

Yes

No

Interpretation: Out of 50 respondents, 96% are satisfied with the brand they are using and 4% are not satisfied for the same.

Q.11. If no, then what more is needed to make your watch suitable according to you? (a) (b) (c) (d) (e) (f) And moire features Change design Change price More distribution outlets More advertisements Any other 28% 12% 15% 15% 12% 18%

30% 25% 20% 15% 10% 5% 0%

28%

18% 15% 12% 15% 12%

Interpretation: Out of 50 respondents, 28% want to add more features, 12% want to change design, 15% to change price, 15% want more distribution outlet, 12% want more advertisements and 18% need other features to make their watch suitable.

And moire features

Change design

Change price

More distribution outlets

More advertisements

Any other

Q.12. If no, then what more is needed to make your watch suitable according to you? (a) (b) (c) (d) (e) (f) Temperature Alarm Stop watch Day, month and date Direction Any other 14% 22% 28% 11% 8% 7%

8% 11%

7%

14%

22% 28%

Temperature Day, month and date

Alarm Direction

Stop watch Any other

Interpretation: Out of 50 respondents, 8% want direction, 14% want temperature, 22% want alarm, 28% want stop watch, 11% want day month and date and 7% who want other features.

Q.13. How often do you switch brand? (a) (b) (c) (d) Monthly Half yearly Yearly Longer than year 50% 28% 16% 6%

50% 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Monthly Half yearly Yearly Longer than year 28%

16% 6%

Interpretation: Out of 50 respondents, 50% switch monthly, 28% switch

half yearly, 16% yearly and 6% switch to their brand longer than year.

Q.14. How often do you switch brand? (a) (b) (c) (d) (e) Swatch Rolex Rado Timex Any Other 24% 6% 12% 16% 42%

24% 42% 6% 12% 16%

Swatch

Rolex

Rado

Timex

Any Other

Interpretation: Out of 50 respondents, 24% prefer Swatch, 6% prefer Rolex, 12% prefer Rado, 16% prefer Timex and 42% prefer other brands.

CHAPTER 6 RESULTS & FINDINGS

RESULTS AND FINDINGS

Most of the people are aware of different Indian brands of watches available in the market. Most of the people are aware of different foreign brands of watches available in the market. Most of the people prefer to buy both Indian as well as foreign branded watches. Most of the people prefer to buy Indian branded watches once in a year. Most of the people prefer to buy foreign branded watches once in a year. Most of the people prefer to buy a watch for regular wear. Most of the people ask for details of the watch before buying it. Most of the people feel confident while purchasing a watch alone. Most of the people ask for certification / warranty for purchasing a watch. Most of the people like to give Indian branded watch for gifting purpose. Most of the people consider their own decision while purchasing a watch. Most of the people would not like to change their watch if they come to know that their friend / relative have same watch.

CHAPTER 7 BIBLIOGRAPHY

BIBLIOGRAPHY
Beraden William O. and Michael J. Etzel, Reference Group Influence on Product and Brand Purchase Decisions, Journal of Consumer Research, Vol. 3, Issue 1, 9 th August, 1990, Pg (30-38). Chauhan Preeti, Sensory Branding (Building brands beyond USPs), Advertising Express, March, 2008, Pg (33-37). Ganapathy V, Ageing Brand, Advertising Express, April, 2008, Pg (27-30) Jacob J. Olsen, Price, brand name and product composition characteristics as determinants of perceived quality, Journal of Applied Psychology, Vol. 9, Issue 3, 27th November, 2003, Pg ( 135-142). Malapur Rashmi, Rejuvenation of Brand, Advertising Express, April, 2008, Pg (911) Pandey Rakesh R, Branding in Retail, Advertising Express, March, 2008, Pg (9-17) Shergill G.S and Kaur T, Consumer Behaviour in regard to detergents and Washing soaps, Management and Labour Studies, 15th March, 1998, Pg (165-172). Srivastava Ashish and Sengupta A, A peep into mindset of consumers: - A study on mens personal products, Indian journal of marketing, Vol. XXIV, June, 2004, Pg (13-15). Verma Pallavi, Brand preference of selected Skin Care brands: - A case study in Ludhiana city, MBA Thesis, 2005, Punjab College of Technical Education, Ludhiana. Vinitha VU, Building Brand Loyalty, Advertising Express, April, 2008, Pg (11-14) http://en.wikipedia.org/wiki/Brand http://en.wikipedia.org/wiki/Rado_(watch) http://en.wikipedia.org/wiki/TAG_Heuer

http://www.brandchannel.com/features_effect.asp?pf_id=183

http://www.brighternaming.com/Top 10 Naming Factors.html http://www.clocksonly.com/watch_history.html http://www.galawatches.com/Rado.aspx http://www.indiangiftsportal.com/india-shopping/shoppers-hang-out/designerluxury/time-pieces/maxima-wrist-watches/

http://www.maximawatches.com/about_us.htm http://www.paralumun.com/watchhistory.htm http://www.secondtimeround.com/history.html http://www.tata.com/titan/ http://www.timexindia.com/pair_home.asp

http://www.timexindia.com/timexwatches.asp http://www.titanworld.com/titan/stores/watches/watcheshome.asp?CatalogId=titan http://www.utoronto.ca/writing/litrev.html http://www.webindia.com/hmti/watches_gallery.html http://www.webindia.com/hmti/watches.htm

CHAPTER 8 APPENDIX

Questionnaire
Dear Respondent , I KanikaAggarwal , student of BBA conducting a survey regarding Consumer Preference on Branded Watches . Please help me In filling the questionnaire. Name Age : : _________________________________ _________________________________

Gender : Occupation :

Male Self employed Businessman Other 1 Lac or above 2 Lac

Female Student Housewife 3 Lac

Income

Q1 . Which type of wrist watch do u like to wear? Digital Watch Strap watch Chain watch Bracelet watch. Any other Q2. You prefer your watch as? A Necessity An Accessory Any other.

Q3 . Do you prefer a cell phone over your watch for referring to time? Yes No

Q4 . What features do you consider while purchasing a watch? Rank in order of preference Quality Brand Image Price Brand Warranty

Q5. Does warranty impact your purchase decision of a watch ? Priority with me Often Rarely Does not affect

Q6. Which brand of watch you are currently using? Titan Timex Tag heuer Fast Track Others

Q7. Do the following offers impact your purchase? Rank in order of preference Discount Buy one get one free Free gift Scratch card Any other

Q8 . Does the publicity of watches affect your buying decision? Yes No Any other

Q9. What motivated you to make your purchase? Self Decision Friends / Family Hoardings / Banners Electronic Media Newspaper / Magazines Any other

Q10. Are you satisfied with the brand you are using? Yes No

Q11. If no, then what more is needed to make your watch suitable according to you? Add more features change design change price More distribution outlets More advertisement Any other

Q12. What additional feature will you like to go for? Temperature Alarm Stop watch

Day , month and date. Direction Any other

Q13. How often do you switch brand? Monthly Half yearly Yearly Longer than year

Q14. If given a chance to change your watch, you would go for? Swatch Rolex Rado Timex Other

Q15. How would you rate your watch on the basis of following features? Very unsatisfied neutral satisfied Very unsatisfied satisfied Colour Warranty Quality Price Design

Thank you