DECLARATION

I hereby declare that the research report entitled Customer Satisfaction of Titan
Watchs in Bilaspur City. is submitted in partial fulfillment of degree of MBA un
der CHOUKSEY ENGINEERING COLLEGE under the guidance of Miss. P. Vakula and Mrs.
Ankita Juneja I am very much thankful to all concerned faculties of our institut
ion for their timely cooperation and help.
Rani Chamlate Roll No - 50236090 CEC
CERTIFICATE
This is to certify that Rani Chamlate student of second semester, Master of Busi
ness administration (MBA) has completed the project report work entitled Customer
Satisfaction of Titan Watchs in Bilaspur City. based on syllabus and has submitt
ed a satisfactory account of his work in this report.
Lecturer Miss Nita Anand Chouksey Engineering College Bilaspur C.G
ACKNOWLEDGEMENT
The research on Customer Satisfaction of Titan Watches in Bilaspur City... has bee
n given to me as part of the curriculum in the completion of 2-Years Master of b
usiness Administration. I have tried my best to present this information as clea
rly as possible using basic terms that I hope will be comprehended by the widest
spectrum of researchers, analysts and students for further studies. I have comp
leted this project under the able guidance and supervision of Miss Nita Anand. I
will be failed in my duty if I do not acknowledge the esteemed scholarly guidan
ce, assistance and knowledge I have received from them towards fruitful and time
ly completion of this work.
FROMRani Chamlate
INDEX
Sr. No.
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.
Contents
EXECUTIVE SUMMARY INTRODUCTION OBJECTIVE LITERATURE REVIEW (COMPANY PROFILE) DAT
A ANALYSIS DATA INTERPRETATION HYPOTHESIS FINDINGS RECOMMENDATIONS CONCLUSION BI
BLIOGRAPHY ANNEXURE
Page No.
EXECUTIVE SUMMARY
Titans watch segment is the Indias chief producer of watches and ranks fifth in th
e world in production of watches. Company really understands the psyche of consu
mer and they offered quality products in classical design with superior technolo
gy. Today the company has model for every prices segment and every market. Basic
ally it deals with three target market High income group Middle income group, and Lowe
r income group Titan alone holds 70% market share in domestic level whereas 60%
in organized market. As our Marketing Objectives is to increases Market Share of
the company by 5% in the coming year as well as to increase the profitability o
f the company by 10%. The competitor are also playing an important role to grab
the market share .We as the Marketer try to increase the market share by grabbin
g the opportunity from other company. To achieve this the company have to follow
the marketing strategies, which basically include the MARKETING MIX. The market
ing strategies basically include the 4 ps. There the marketer have to focus at f
irst on PRICE,which basically for The titan is not affordable in the Mid Segment,
where as the competitor like HMT and Maxima are doing good business by holding
market share of 45% where as titan hold the only the 32%,there fore it is import
ant for the company to reduce price in mid segment.
History Of The Watch Market and Titan
The Indian watch industry began in the year 1961 with the commissioning of thewa
tch division of HMT. The first watch model manufactured by HMT was the Janata mo
del in the year 1962. HMT was the leader in the watch market till the Tatas form
ed Titan Watches in association with Tamil Nadu Industrial Development Corporati
on in the year 1987. They took a major strategy decision, which later changed th
e face of the Indian watch market- to manufacture only quartz watches. Liberaliz
ation in 1992 and the removal of quantitative restrictions due to WTO has opened
the doors for many foreign brands in the Indian market viz. Tissot, Swatch, Ome
ga, Rado, TAG Heuer, Rolex and many others. The import duties on watches are fal
ling which makes the Indian market look attractive for the global majors like Ca
sio, Swatch and Citizen.
Indian Watch industry:
Porters Five Forces Model 1. Supplier Power: HMT has its own fully integrated ope
ration for production of its watches. Titan has its own production facilities fo
r which it has invested roughly 120 crore rupees over the years, the manufacturi
ng capacity of which is 6 million units. Also there has been a rise of low cost
producers in China & Taiwan which has provided an opportunity for watch makers t
o outsource watches at low cost, just as Titan has done to outsource the compone
nts for Dash. Due to the large supply of watch movements available, there is lit
tle supplier power in the watch market. 2. Buyer Power:
SUPPLIER POWER No strong suppliers Lack bargaining power Rise of China, Taiwan a
s low cost suppliers BARRIERS TO ENTRY Cluttered Market Lack of Differentiation
DEGREE OF RIVALRY
Increased number of firms Low switching costs Strategic stakes are high THREAT O
F SUBSTITUTES No close substitutes BUYER POWER Price sensitivity , Buyers Prefere
nces
The Indian watch buyers are very price sensitive, especially in the lower end of
the market. There is still a huge untapped market in India with market penetrat
ion of only 20 units per thousand people while the world average is more than 10
0. At the same time there are a segment of people who are willing to pay a premi
um for watches with good performance and with a recognized brand name. So unders
tanding the buyers preferences is very crucial in this industry in order to gain
a substantial market share. 3. Entry Barriers: The Indian watch market in the re
cent years has shown a dramatic increase in the number of brands available in th
e market due to removal of quantitative restrictions. So the new entrant has to
have an offering, which can be positioned and differentiated from the other play
ers in the market. This could be either price or functional or emotional appeal.
So the prime barrier for entry, in the current context, for a new entrant is to
build a brand image and price competitively. 4. Threat of Substitutes: There ar
e no such substitutes to watch as a product. However, in terms of the companies
offering various variations for watches such as pendant watches and jewellery wa
tches, some sort of substitution has developed. Rich consumers prefer to purchas
e watches more as a fashion accessory rather than simply for its typical use. 5.
Degree of Rivalry: There are many companies in the Indian watch market, however
, the product ranges offered by them are manifold. This makes the competition ve
ry stiff. Also at the lower end of the market it is basically the Value for Mone
y, which differentiates the players. The strategic stakes for the producers are
very high. Titan Ltd., the largest company
in terms of market share in the organized sector has faced losses in the quarter
ended June 2001 despite increase in the market share due to macroeconomic situa
tion. HMT faced a similar situation when Titan was introduced in the 1980s leadi
ng to a sharp fall in its market share. 3.3 Present Situation of the Indian Watc
h Market The Indian watch market is today of 40 million units, out which 60% is
in the unorganized sector in which the maximum number of watches are sold are be
low Rs.300. Quartz watches form two thirds of the organized sector and the rest
is split between mechanical and digital watches. Even in the organized sector, t
hree fourth of the sales by volume comes from watches that are priced below Rs.1
000. Plastic as such is not acceptable to average Indian consumers, especially t
hose from the small towns and rural areas who regard it as cheap and flimsy. The
y want toughness which translates into a good quality metal model at a reasonabl
e price. Watch is one of the consumer durables whose replacement rate is very hi
gh. The replacement rate of watch is 33.8%(Source: India market demographics rep
ort, 1998). This is also due to the fact that the estimated scrap rate of wrist
watches is 7.8%, which is applicable after 6 years (Source: India market demogra
phics report, 1998). So due to high scrap rate, outdated models, and the shift f
rom the mechanical watches to the quartz watches is causing a very high replacem
ent demand for watches. This along with the low penetration levels represent the
untapped market potential for watches in India.
3.4 Major brands in the Indian watch market The major players in the Indian watc
h market include HMT, Titan and Timex. The other players include Westar, Shivaki
, Maxima, SITCO. Foreign brands such as Cartier, Piaget, Omega, Tiffanys and Corr
um, Gucci, Longines, Casio, Citizen, Tag Heuer and Espirit are also making an in
road into the Indian market. Titan has been consolidating its market share over
the past decade. Timex watches, which entered in India with collaboration with T
itan, now independently has also gained substantial market share.
[19]
3.5 Segmentation of Indian Watch industry Based on price Mass (Rs.350-600), Popular
(Rs.600-900), Premium (Rs.900-1500), Super-premium (Rs.1500-8000) Connoisseur segments
(above Rs.8000) Based on user category Mens watches Womens watches Youth watches K
ches Sports watches
Company Profile
4.1 Overview Titan Industries was established in 1984 as a joint venture between
the Tata Group and the Tamil Nadu Industrial Development Corporation. The compa
ny brought about a paradigm shift in the Indian watch market, offering quartz te
chnology with international styling, manufactured in a state-of-the-art factory
at Hosur, Tamil Nadu. Leveraging its understanding of different segments in the
watch market, the company launched a second independent watch brand-Sonata, as a
value brand to those seeking to buy functionally styled watches at affordable p
rices. In addition it focused on the youth with its third brand Fastrack. It has
also premium fashion watches by acquiring a license for global brands such as T
ommy Hilfiger and Hugo Boss, while. It has also in its portfolio its first Swiss
Made watch brand Xylys. In 1995, the company diversified into jewellery under t
he brand Tanishq to capitalize on a fragmented market operating with no brands i
n urban cities. In 2005, the company launched its second Jewellery brand, Gold P
lus, for capitalizing on the opportunity in small towns and rural India. The com
pany has now diversified into fashion Eyewear by launching Fastrack EyeGear sung
lasses, as well as Prescription Eyewear. The Company leveraged its manufacturing
competencies and branched into Precision Engineering Products and Machine Build
ing from 2003. Today Titan Industries is India's leading manufacturer of watches
and jewellery employing 3,800 people. Titan and Tanishq are among the most admi
red brands in their categories. 4.2 Products The company manufactures over 8 mil
lion watches per annum and has a customer base of over 80 million. It has manufa
cturing and assembly operations at Hosur, Dehradun, Roorkee and Baddi in Himacha
l Pradesh and an ECB plant in Goa. Its main products are:
Watches : Currently manufactures four main watch brands viz. Titan for the
premium segment, Fastrack focused on the youth and trendy fashion space, Sonata
for the mass market and Xylys for the premium market. The Titan brand architectu
re comprises several sub-brands, each of which is a leader in its segment.
Notable among them are: Titan Edge The world's slimmest watch which stands for t
he philosophy of "less is more"; Titan Raga the feminine and sensuous accessory
for today's woman, Nebula - crafted in solid gold and precious stones and severa
l other collections like Wall Street, Heritage, Regalia, Octane, Orion, Diva, Zo
op, WWF and the Aviator series, all of which form a part of the Titan wardrobe.
Sonata is today India's largest watch selling brand and is priced between Rs 295
/- and Rs 1200/-. The company's first Swiss Made watch Xylys is for the hi-end c
onnoisseur and new age achiever. It also markets Tommy Hilfiger watches under a
licensing arrangement and is introducing Hugo Boss. Today, the Titan portfolio h
as about 65% of the domestic market share in the organized watch market. The com
pany has 255 exclusive showrooms christened 'World of Titan', making it amongst
the largest chains in its category. Titan watches are sold through over 12,000 o
utlets in over 2,500 cities and internationally in over 30 countries, primarily
in the Middle-East and Asia Pacific. Its after-sales-service is itself a benchma
rked operation with a network of 750 service centres and amongst the world's fas
test turnaround times. The company has a world-class design studio for watches a
nd accessories.
Jewellery : Tanishq is India's largest and fastest growing jewellery brand with a
premium range of gold jewellery studded with diamonds or coloured gems and a wid
e range in 22kt pure gold. Platinum jewellery is also a part of the product rang
e Tanishq is one of India's largest speciality retailers and is transforming the
jewellery market in India 102 boutiques in 72 cities across the country. Gold Pl
us' is the recent retail offering for the mass market with plain gold jewellery
selling through 19 stores in 19 towns. The jewellery division has its own design
studio.
Eye wear : Titan Eye+ is currently on a pilot mode with 5 stores in 2 cities and h
as
sunglasses under Fastrack brand and prescription eyewear consisting of Frames, L
enses, Sunglasses, Accessories and Contact Lenses of in-house brands and other p
remium brands.
4.3 Precision Engineering The company's Precision Engineering Division supplies
precision components to the avionics and the automotive industry. It also manufa
ctures dashboard clocks as OEM to car manufacturers in Europe and America. The d
ivision also provides fully integrated Automation solutions 4.4 Awards The compa
ny has been awarded the following distinctions:
Being named the No.1 Brand in the Consumer Durables category in the "Brand
Equity" Survey of The Economic Times, a leading Indian financial daily.
The Titan Design Team won the Young Design Entrepreneur of the Year award at
the design awards instituted by the National Institute of Design and Business Wo
rld, a leading Indian magazine. The team has won 7 accreditations also.
Both Titan and Tanishq have been adjudged "Most Admired Brands" as well as
"Retailer of the Year" by Images Fashion Forum in consecutive years.
Retail Asia and Media Magazine Singapore adjudged Titan Industries as amongst
the leading Retailing Companies in India.
Titan has won the Brand Leadership award at the India Brand Summit. The Time Product
s Division of the company was awarded the JRD QV Award in
2006.
Titan Watches: Brand Positioning Strategies
5.1 Overall strategies Since its introduction, Titan has been positioned as a pr
emium brand, providing high quality products. With its numerous sub-brands cater
ing to different segments, the challenge that Titan faces is to create a strong
brand image. It follows different positioning strategies, these strategies can a
lso be analyzed as given below: Attribute Positioning: When the company launched
its products, it was the first to bring quartz watches to the Indian market. Th
e company successfully leveraged this to penetrate the market and gain a market
share. Raga, Classique and Regalia come under this strategy. Classique has been
positioned as elegant corporate wear that leaves a quiet, but definite impressio
n and fusion of function and sophistication. Power dressing now has a new weapon
! As Magic in gold and bicolour look, the 'Regalia' range represents the essence
of dress-wear. Raga has been differentiated and positioned as exclusive watches
for women. The Raga and Silver Raga collection is elegant, delicate and feminin
e with each piece being truly unique. User Positioning: Titan caters to several
user groups- children (the Dash), sportspersons and adventurers (PSI4000 and Fas
track range). The Fastrack range is seen as being contemporary, sturdy and relia
ble. The advertising, packaging and merchandising of this range is young, vibran
t and cool (the ad line says Cool watches by Titan) Benefit Positioning: The Fastrac
k Digital range offers the customer a functional watch that is also attractive.
The digital watch has a techno-geek image, but Titan seeks to differentiate its of
fering on the basis of superior style and attractiveness.
 Competitor Positioning: With the entry of several foreign watchmakers into the m
arket, Titan had to counter the threat. Most of the entrants are catering to the
upper end of the market- Omega, Tissot, Cartier etc. Titan already had the Tani
shq brand in this segment. However, it has tried to reposition this brand by inc
reasing the price range to encourage more customers. Quality or Price Positionin
g: In the overseas market, especially in Europe where it is competing with Swiss
and Japanese watches, it is positioning itself as value- for- money: reasonably p
riced (less than Swiss watches and higher than Japanese), attractively styled an
d of good quality. In Indian market, Sonata is a perfect example of Price positi
oning, titan came up with this segment when it was facing heavy competition from
lower end segment. 5.2 Mens segment: With Titan positioning its range of watches
as a life-style, the Indian market started viewing watch more as a complement t
o dress than just a time showing machine. They are also realising that, unlike o
ther forms of art that are meant to be admired, high-end jewellery watches have
that added bonus: practical luxury with a function other than beauty. Watches ha
ve joined the list of tie, deodorant and shoes to represent the occasion and fla
unt your status. Dress Wear Titan has three brands positioned for this segment:
Nebula, Regalia and Insignia. Nebula: Marketed as the Jewellery collection from T
itan, Nebula is targeted towards affluent men who consider wearing gold jewellery
a symbol of status. Magical blend of most coveted of metals, Gold and craftsman
ship; Nebula is more of a connoisseur watch with the owest price model at Rs.550
0. It is marketed as a watch for discerning individual positioned as a gold jewel.
Regalia: Incredibly eye-catching. magic in gold. The watch uses the unique combina
tion of gold and bicolour looks representing the essence of dress-wear. In India
, gold-look is associated with status but at the same time, the silver-look is t
he fashion of the day in international watches. With the combination of both, th
is watch is targeted towards affluent businessmen. The elegant looks and colours
make it a strong competitor to the foreign brands like the Tissot, Piaget and R
ado. This is also marketed as a watch for gift Special Watch for special occasion,
positioning this as a costly gift. Insignia: The World Watch from Titan. The wat
ch with fascinating designs and precision engineering was targeted towards the E
uropean markets. The complexity of this watch is 10 times more than a regular ti
tan watch. Though it didnt meet with much of a success in Europe, this tag line a
nd keyword International are used to position this watch as a world-class watch fo
r international traveller with European tastes. Classic Watches Watches that are
for every-day use and those with less frills and more value are classified as C
lassic watches. These watches are normally targeted towards middle and upper mid
dle-income class consumers. Classique:
Power dressing now has a new weapon!
Timeless elegance captured on the wrist.
Classique' is marketed as a fusion of function and sophistication.
Classique with its looks fits
the formal corporate image and is positioned as a watch for corporate employees.
This also reinforces the importance of watch along with the dress worn. These w
atches are generic in their simplicity and find no real competitors except HMT.
Royale: Collection of designs that suit everyday wear. Royale with its gold plate
d case and golden straps represents a formal every day watch targeted towards th
e employees who cant afford multiple watches for
occasions. The watch includes designs from simple to dressy eveningwear switchin
g between informal and formal looks based on the place and situation. Spectra: De
signed for those who look beyond the ordinary. This brand from Titan extends over
wide range of prices from 900-7000. It is a classic premium watch with style, w
hich boasts of combining the sturdiness of steel with richness of gold. The posi
tioning of the watch is not very clear as it is targeted towards the salary earn
ers with its lower price point models and appealing models for the corporate exe
cutives at the higher end.
Sports Watches In the Indian scenario the sport awareness is not quite there. An
d the market is not mature enough that consumers buy special watches for sportin
g except in the superpremium and segments above that. A sports watch in the mind
of an average Indian is a polyamide watch with stopwatch and trendy look. So th
ere is no clear distinction between sports watches and casual watches. But in th
e available market Timex, Casio, and Titan are major players and after the lifti
ng of QR restrictions, world famous Tag- Heur has also entered India but in the
Connoisseur segment of sports watches. PSI2000: Titan has introduced a range of
contemporary Precision Sports watches. The brand is marketed as tough, outdoor,
adventure brand. (Psychographically segmented) Ranging from 800 to 7500, these w
atches are in direct competition with foreign brands like Swatch Irony.
Casual Wear: The segment of watches that has a variety of brands and models to a
ppeal to the youth and mentally young people is casual wear. The watches in this
segment are mainly sporty watches, which are unconventional and typically symbo
lize the attitudes of younger generation. Titan Fast Track Cool watches from Tita
n. The target audience for this watch, in the 20-35 age group include working adu
lts and postgraduate students of both sexes in metros and mini metros. The Fast
Track user, in terms of attitude is one who wears an informal dress, wears brand
ed jeans, shirts, sunglasses and branded informal shoes. The Fast Track personal
ity is that of a young, energetic, achievement oriented person, who seeks to exp
ress his or her individuality by braking free from constraints of formal environ
ment, without being a rebel. Built around the Cool concept, this watch from Tita
n has virtually very few competitors because no one offers the feature combinati
on and price but Casio (in digital range) and Espirit and Swatch (in the analog
range) can be considered as competitors feature-wise.
Technology Watches Wrist Watches have changed a lot from the inception- a time s
howing convenience machine to a status symbol. But the underlying concept remain
ed unchanged, convenience. Stretching this concept a bit with the development of
technology are the technology watches available in the market. Watch for time,
status has in the new technology era is looked for convenience of carrying data.
In to the competitive market with people willing to pay a premium for that adva
ntage, a good number of brands have ventured. Technology (2350-8200): Multi-funct
ional watches for the Tech-savvy. This brand is marketed as mergers of classic el
egance and technological mastery giving rise to multi-functional chronographs us
ing the solar power. This brand is positioned to compete against the Citizens Eco
Drive.
5.3 Womens segment Dress Wear Titan has chiefly three brands in this category. Ne
bula (6000-65000)The Jewelers Collection Nebula is a precious jewellery watch from
Titan. It is marketed as a magical blend of most coveted of metals and engineerin
g excellence. The Nebula range of watches is positioned as objects of ornamentati
on. A 21 carat gold watch, studded with gems it is targeted at the upper most en
d of the market in competition with brands such as Rolex and Cartier. Regalia Re
galia range is positioned as Essence of dress wear. It is marketed as Incredibly ey
e catchingmagic in gold. With the unique combination of gold and bicolor looks and
sleek case, Regalia is targeted towards middle-aged women who consider watch to
be a status symbol and also representing their delicacy. It is available in man
y price points between Rs.1800 onwards. Raga and the Silver Raga Raga and the Si
lver Raga collection are positioned as Ethnic Indian styling for the sophisticate
d woman. Each piece is truly unique and represents elegance, delicacy and feminin
e. The designs and the bracelets represent traditional Indian ornaments as well
as contemporary style. Both the watches are exclusively designed to appeal to wo
men more as an ornamental possession than a watch. The Silver Raga has been craf
ted exclusively for the sophisticated woman who believes in value-for-money and
who wears silver jewellery with lan. At the beginning, when the brands were launc
hed, they were positioned as Watches for all dresses with changeable dials matchin
g the sari color. But the proposition was viewed with skepticism and hence didnt
meet with much success. Keeping in mind Indian womens love for jewellery, both th
ese brands are repositioned as a perfect accessory that completes a woman's ward
robe.
Casual Wear Fastrack The woman's collection presents the all-new international '
Frosted' look, which is trendy and chic. The ad line : Fastrack- Cool watches from
Titan, aims at building the brand around the cool concept. Fastrack is targeted a
t a personality that is young, energetic, achievement-oriented, who seeks to exp
ress her individuality by breaking free from constraints imposed by formal envir
onments, without being a rebel. The positioning of Fastrack for men and women is
almost the same.
5.4 Childrens Segment Titan has a brand called Dash! for kids. These are bright,
colorful watches targeted at children aged 6-14 years. These watches are priced
Rs.250 onwards to Rs.495 and are marketed under the ad line: Wow! Watches from Ti
tan. The three main collections from Dash include the Popeye Collection, which feat
ure cartoon character Popeye, and his friends. There is also a Digital Range, wh
ich has features like Ellight, compass, Velco straps. So Titan is positioning Da
sh watches as Fun watches for kids. Its features such as comic characters also app
eal to the frivolous nature of the children. Dash also has a special collection
for girls, with changeable bezel rings, priced at Rs.295. There are some other w
atches such as Pop-Swatch from Swatch, which are positioned using the same appea
l that of Dash and are expected to give Dash a tough time at the same competitiv
e prices
Titan Watches: Brand Repositioning Strategies
Titan Industries decided to revamp its flagship watch brand, Titan, with the int
ention of making it more youthful and relevant to the changing times. The brand,
launched more than 24 years ago, has undergone a major repositioning exercise o
nly once before five years ago, when Hindi film actor Aamir Khan was appointed b
rand ambassador. What followed later was the Whats Your Style? campaign, which trie
d to increase watch consumption per person, by suggesting the use of different w
atches for different occasions. 6.1 New logo and tagline - Be More Beyond style
Now, Titan wants to move from style statements to personality statements. Accord
ing to Harish Bhat, chief operating officer, watches, Titan Industries, a watch
ought to denote the wearers mood and personality. With the explosion of options in
a persons life, our core consumer is changing. And to keep up with them, Titan h
as evolved too, he says. On the adoption of Be More, Bhat says that that statement
is supposed to denote the aspirations of consumers to make more of their lives a
nd be whatever they want to be. The watch allows for such imaginative travels, he
says. Titans agency, Ogilvy India, has devised a campaign featuring Aamir Khan th
at encourages people to find a new strand of their personality every day. It all
started with a logo change a few months ago (the same font in a red and white c
ombination), followed by a campaign rolled out now. The ad film opens on a shot
of Aamir Khan sitting alone on a roller coaster, stating, Be born every day. Next,
he is seen chasing the shadow of an aircraft on a beach, then, sitting beside a
truck driver, in the middle of nowhere, with a trail of chassis trucks behind h
im. Here, he asks the viewers to try the adventure of getting off at an unknown
station, of exploring unknown lands. As he crashes his vehicle while go-karting,
Khan waves to the others around him, while his voiceover explains the importanc
e of making ones own mistakes. Further on, he talks of not making your passport p
hotos last longer than three months you
need to constantly reinvent yourself and adopt a new look every day (cut to shot
s of Khans varied hairstyles and looks in his movies, shown in an ambient way thr
ough posters and T-shirts). Shock your reflection! says Khan, as we see him with f
unny accessories framing his face. The next vignette has him practising meditati
on while slyly checking out a girl walking past (Explore). Cut to a shot of childr
en, with Khan explaining how we aspired to be different people as kids lets revive
that aspiration today. Wearing armour (sword and all), Khan reiterates, Be Born,
Every Day. Titan. Be More. Malvika Mehra, group creative director, Ogilvy & Mathe
r Bangalore, says, Be More pushes people to live many lives in one. We want to trig
ger people into questioning, Why should we be single minded and boring? Time to b
e multi-faceted, just like Titan! Khan fit the bill as Ogilvy borrowed from his ow
n life and work and his need to constantly experiment and reinvent himself. Be it
Mangal Pandey or Lagaan or Dil Chahta Hai, Aamir always manages to look differe
nt in every role, explains Mehra. So we showed him doing things that were spontane
ous, such as exploring places or go-karting. The idea, simply put, is to live lif
e to the fullest with Titan being the instrument of such expressive liberation.
The film was conceptualised by Mehra along with Amit Akali, Anil Thomas, Kunj Sh
ah (who wrote the script) and N Ajesh of Ogilvy. In a sense, says Mehra, the spo
ntaneity in the ad is an indication of Titans gradual shift from the old to the y
outhful (from My Dads Brand to My Brand). That is the way many categories are moving,
he says.
6.2 The ad making Aamir Khan The ad was directed by Prasoon Pandey of Corcoise F
ilms; this is Pandeys third Titan film, the earlier two involved Khan and his ass
istant, played by the late Vihang Nayak. The first film had Khan confused about
which watch to match with each outfit hes packing before a trip, while the second
film showed him delighting a girl in a mall with a watch. This third film has a
much stronger script than those two, shrugs Pandey. Its about bringing a mindset on
to the screen with a better celeb-brand marriage. Shot entirely in Chennai, the f
ilm has been shot in a way that suggests that multiple locations were used for t
he shoot, as opposed to one city. We had fast paced shots to spread the look of t
he film, says Pandey. When asked why Chennai, he quips, Because it was raining in
Mumbai then! Several layers were added to the film. To show the aspirations of ch
ildren, a young girl was shown staring at an object and, later in the frame, you
see the object is a butterfly the girl wants to fly. Kids are freer in their thin
king than adults and we hope this has been portrayed, Pandey says. Even the last
frame of the ad, which has Khan dressed as a mock warrior (with an impromptu ute
nsil serving as his helmet), was made to look like the man had made use of thing
s lying nearby in a spontaneous way.
6.3 New Collections and Designs Sonatas sub-brands Sonata has launched the Yuva 2
008 collection, a series of colourful watches. They are available in both casual
and formal styles to complement the young, new look for college or office wear.
The collection has watches for both men and women at price s starting at Rs 645
. They are available in both gold and steel looks, with both metal and leather s
traps. Sonata, the watch brand from the Tatas, launched the Super Fibre, targete
d at the sub-Rs 500 market in urban, semi-urban and rural India. The watches hav
e been designed primarily for youth in the 16-30 age group, and will be availabl
e in a price range of Rs 275 to Rs 550. The tag line for this sub-brand is Super
Strong, Super Style.
The company announced 360-degree marketing campaign for the new offerings. It al
so unveiled its TV commercial featuring Indian ODI captain Mahendra Singh Dhoni,
in a brand new avatar. Titan Raga Hazel Collection Titan Raga has launched the Ha
zel collection, inspired by the hues of nature. Priced between Rs 2,195 and Rs 4
,000, this range comprises five styles with versions in gold, steel and bi-metal
finish. They are available as bracelets and kadas with textured or patterned lo
ok and mother-of-pearl dials. Octane Titan has launched the Octane collection of
chronograph, multifunction and retrograde watches for the urban man. The range
is described as blending style and technology. The collection has over 35 styles
and is priced between Rs. 5,000 and Rs 7,500. Nebula Celeste It is a limited ed
ition collection of jewellery timepieces. They are crafted in 18k white and yell
ow gold. Prices range from Rs 6 lakh to Rs 12 lakhs.
Raga Crystals Titan Industries Ltd has unveiled its new Raga Crystals collection
of watches in Kerala. The two new watches, called Venus and Fairy Dust, are ava
ilable in yellow metal and bi-metal versions. Venus is priced at Rs 4,450 and Fa
iry Dust at Rs 4,750. Titans Stambha A new ladies Heritage wrist watch Stambha sign
ifying fame, prosperity and good luck was unveiled as part of Heritage collectio
n. MrVijesh Rajan, Regional Sales Manager (South), launching the watch collectio
n, said that plans are on the anvil to launch one new collection every month, re
flecting the 3000-year old art and cultural history of the country. A sale of ar
ound 7,500 watches has been fixed as a target for this fina ncial year in the He
ritage collection, he added. The prices in the collection range between Rs 5,000
and Rs 10,000.
Nebula Zeus It is a mechanical automatic watch in solid gold for men. Priced at
Rs.1,10,000, the limited edition watch (500 pieces) harks back to an older era o
f luxury and romance. The Nebula Zeus watch has been crafted using Swiss made me
chanical automatic movement with gold finish and a sapphire crystal back cover.
Other features include an instant start, a second hand stop device for accurate
time setting; 42 hours reserve powers and auto wind convenience. The watch colle
ction was launched by singer and actor, Vasundhara Das. Raga Shimmer It comprise
s of a collection of exquisitely designed studded watches that complement both I
ndian-wear as well as Western-wear. Priced between Rs 2,995 and Rs 4,495, the ne
w collection comprises watches in gold, steel and bi-metal finishes. Raga Diva
An exquisite range of watches for women in the Kerala market. Inspired by tradit
ional Kundan work, this collection has been rendered in a delightfully contempor
ary form. It is priced between Rs 4,000 and Rs 10,000. Titan Nebula Duet Collect
ion
Titan Nebula, the premium 18K gold watch brand from Titan, today launched the Du
et collection three pairs of specially crafted gold watches for the wedding seas
on. The most premium collection for this wedding season was unveiled by popular
actor Gul Panag. Available in mother of pearl dials in both champagne and white
options it is priced between Rs.30, 500/- and Rs.1,35,000. 6.4 Other Strategies Ti
tan is also trying to reach new customer segments. They are now trying to target
all adults in socio economic classes A&B. Titan is also looking at innovative ret
ail strategies and planned to launch ten innovative product collections soon
Customer Satisfaction
Customer satisfaction is becoming an increasingly salient topic in many firms an
d in academic research (Sderlund, 1998). Anderson et al. (1994) affirmed that sat
isfaction is a post consumption experience which compares perceived quality with
expected quality. Correspondingly, Oliver (1996)
defines satisfaction as an emotional post-consumption response that may occur as
the result of comparing expected and actual performance (disconfirmation), or i
t can be an outcome that occurs without comparing expectations On the other hand
, some previous researchers have explained customer satisfaction in terms of exp
ectation. They define if expectations are exceeded by performance; satisfaction
is generated (Churchill & Surprenant, 1982; Bearden & Tell, 1983; LaBarbera & Ma
zursky, 1983). Equally, Buswell (1983) identified customer satisfaction as a com
bination of five key attitudes. Those are knowledge of staff, communications, ex
pertise of staff, willingness to lend and branch design. Consequently, Berry, Ze
ithaml, and Parasuraman (1985) argued that customer satisfaction can be defined
as the attributes of search, experience, and credence. Yi (1990) believes custom
er satisfaction should
mean evaluation, symbolizing a type of consuming experience. Avkiran (1994) reco
gnized customer satisfaction by customer conduct, credibility,
communication, access to teller services.
Simultaneously, according to Anderson and Fornell (1994), customer satisfaction
is the term which may lower the chance of customers being driven away due to the
poor quality of products or services. Fornell (1992) noted that the more satisf
ied customers are the one that are greater in their retention while, Anderson an
d Sullivan (1993) added that satisfied customer would intend to repeat purchase
which would enhance organizations profitability. In
association with this Jones and Sasser (1995) acknowledged that completely satis
fied customers are those who are much more loyal than merely satisfied customer
Spreng, MacKenzie, and Olshavsky (1996), alternatively, defined satisfaction as
the emotional reaction to a product or service experience. Oliver (1997) defined
satisfaction as the customer's fulfillment response. It is a
judgment that a product or service feature, or the product or service itself, pr
ovides a pleasurable level of consumption- related fulfillment. The most common
interpretations reflect the notion that satisfaction is a feeling which results
from a process of evaluating what was received against that expected, the purcha
se decision itself and the fulfillment to needs or want (Armstrong & Kotler, 199
6: Berkowitz, Kerin, Hartley, & Rudelius, 1999). Kotler (1999) also noted that s
atisfaction is a function of perceived performance and expectations which identi
fies feelings of a person resulting from comparing a products perceived performa
nce in relation to his or her expectations. Wong (2000) believes that a customers
total satisfaction is an emotional perception. Evaluation is based on the custo
mers reaction from using the product or service. Customer satisfaction then is a
total satisfaction that leaves a good perception. The perception of this wholene
ss is very similar to the meaning of customer value package brought up by Freder
icks and Salter (1995). The customer value package includes: price; product qual
ity; service quality;
innovation; and corporate image.
Moreover, Martensen, Grnholdt, and
Kristersen (2000) also discovered that expectation, product quality, and corpora
te image are three facilitating factors in ensuring customer satisfaction. Hackl
and Scharitzer (2000) have identified customer satisfaction as economic goals a
nd have considered customer satisfaction as a prerequisite for customer retentio
n and loyalty, and obviously that tend to help in realizing economic goals like
profitability, market share, return on investment. Sureschandar et al. (2002) in
troduced different approach of customer satisfaction and defined customer satisf
action as multidimensional construct. According to Bitner and Zeithaml (2003), s
atisfaction is the customers evaluation of a product or service in terms of wheth
er that product or service has met their needs and expectations. The researchers
reveal that satisfaction can as well be viewed as contentment, pleasure, deligh
t, and relief. Thus they noted customer satisfaction as a dynamic and moving tar
get that may evolve over time, influenced by variety of factors. Guenzi and Pell
oni (2004) use the following definition of satisfaction in their study: Overall s
atisfaction is the consumers dissatisfaction or satisfaction with the organizatio
n based on all encounters and experiences with that particular organization (Bitn
er & Hubbert, 1993). Fe and Ikova (2004) added that the perception of the word s
atisfaction influences the activities which we conduct to achieve customer satis
faction. Boselie, Hesselink, and Wiele (2002) defined satisfaction as a positive
, affective state resulting from the appraisal of all aspects of a firms working
relationship with another firm. This definition purported that satisfaction
(understood as affective) can be contrasted with an objective summary assessment
of outcomes thereby forming a target-performance comparison mechanism. Therefor
e, the appropriate definition of customer satisfaction for this study would be t
he one by Boselie et al. (2002).
Customer Loyalty The importance of loyalty has been widely recognized in the mar
keting literature (Oliver, 1999; Samuelson & Sandvik, 1997; Howard & Sheth, 1969
). According to Duffy (2003), loyalty is the feeling that a customer has about a
brand which ultimately generates positive and measurable financial results. Sod
erlund (1998) drew on the concept of loyalty as the extent to which the customer
intends to purchase again from the supplier who has created a certain level of
satisfaction. Loyalty, in one or more of the forms noted above, creates increase
d profit through enhanced revenues, reduced costs to acquire customers (Sharp &
Sharp, 1997), lower customer-price sensitivity (Krisnamurthi & Raj, 1991), and d
ecreased costs to serve customers familiar with a firm's service delivery system
(Reicheld & Sasser, 1990). Customer loyalty represents the repeat purchase and
referring the company to other customers (Heskett, 1994). Improvements in retent
ion and increasing in the share of the company are the obvious economic benefit
of customer loyalty. According to Feick and Lee (2001), customer loyalty has bee
n measured as the long term choice probability for a brand or as a minimum diffe
rential needed for switching. Loyal customers are less likely to switch because
of price and they make more purchases than similar non-loyal customers (Reichhel
d & Sasser, 1990). Oliver (1997) viewed customer loyalty as a deeply held commit
ment to rebuy or repatronize a preferred product or service consistently in the
future, despite situational influences and marketing efforts having the potentia
l to cause switching behavior. Customer loyalty reduces marketing costs and that
the relative costs of customer retention are substantially less than those of a
cquisition (Fornell &
Wernerfelt, 1987).
Hallowel (1996) characterize customer loyalty as the
relationship a customer maintains with the seller after the first transaction. C
ustomer loyalty is often referred to as a purchase behavior (Griffin, 1996). On
the other hand, customer loyalty is approached as an attitudinal construct. Atti
tude denotes the degree to which a consumers disposition
towards a service is favorably inclined (Azjen & Fishbein, 1980). In addition to
attitude, it has been argued that loyalty may also be based on cognition (Lee &
Zeiss, 1980). In its cognitive sense, customer loyalty is frequently
operationalised as a conscious evaluation of the price/quality ratio or the will
ingness to pay a premium price, or alternatively price indifference (Fornell, 19
92; Zeithaml et al., 1996). Jacoby and Kyner (1973) elaborated that the definiti
on of loyalty includes six necessary conditions that loyalty is the biased (that
is, nonrandom), behavioural (that is, purchase) response, expressed over time,
by some decisionmaking unit (a person or group of persons), with respect to one
or more alternative brands out of a set of such brands, and is a function of psy
chological processes (decision-making, evaluative). On the contrary, Oliver (199
9) argues that customer loyalty is a condition of strong involvement in the repu
rchase, or reuse, of a product or brand. This involvement is strong enough to ov
ercome the situational and competitive influences which might drive a variety se
ekers or a switching behavior. This condition of customer loyalty is reached thr
ough four sequential stages: cognitively loyal (direct or indirect knowledge abo
ut the brand), affective loyalty (repeated confirmations of his expectations), c
onative loyalty (high involvement that is a motivating force), and action loyalt
y (desire to overcome every possible obstacle that might come in the way of the de
cision to buy the brand to which the person is loyal).
On the word of Gremler and Brown (1996) customer loyalty is noted by the degree
to which a customer exhibits repeat purchasing behavior from a service provider,
possesses a positive attitudinal disposition towards the provider, and consider
s using only those providers when a need for the service arises. Correspondingly
, Kandampully (2000) stated that a loyal customer is a customer who repurchases
from the same service provider whenever possible, and who continues to recommend
or maintains a positive attitude towards the service provider. In relation with
this, Pong and Yee (2001) is defined as the willingness of customer to consiste
ntly re-patronize the same service provider/service company that may be the firs
t choice among alternatives, thereby complying with actual behavioral outcomes a
nd attaching with favorable attitude and cognition, regardless of any situationa
l influences and marketing efforts made to induce switching behavior. Zeithaml (
2000) affirmed that loyalty is repeated transactions (or percentage of total tra
nsactions in the category, or total expenditures in the category) and can someti
mes be measured quite simply with observational techniques. Furthermore, a brief
er and more specific definition is provided by Anderson and Srinivasan (2003), w
ho define loyalty in contest of electronic business as the customers favorable at
titude toward an electronic business, resulting in repeat purchasing behavior. L
oyalty deals with specific behaviors related to repurchasing the service or prod
uct (Durvasula, Lynoski, Mehta, & Tang, 2004). Wong (2004) suggested customer lo
yalty as a key mediating variable in explaining customer retention (Pritchard &
Howard, 1997) which is concerned with the likelihood of a customer returning, ma
king business referrals,
providing strong word-of-mouth, as well as providing references and publicity (B
owen & Shoemaker, 1998). Pearson (1996) defines customer loyalty in term of thos
e customers who hold favorable attitudes toward the company, commit to repurchas
e the product/service, and recommend the product/service to others. Hence, the
researchers of the current study will use the definition of Pearson (1996) to de
fine customer loyalty.
Customer satisfaction, a business term, is a measure of how products and service
s supplied by a company meet or surpass customer expectation. It is seen as a ke
y performance indicator within business and is part of the four perspectives of
a Balanced Scorecard. In a competitive marketplace where businesses compete for
customers, customer satisfaction is seen as a key differentiator and increasingl
y has become a key element of business strategy. There is a substantial body of
empirical literature that establishes the benefits of customer satisfaction for
firms.
3.2) Measuring customer satisfaction
Organizations are increasingly interested in retaining existing customers while
targeting non-customers; measuring customer satisfaction provides an indication
of how successful the organization is at providing products and/or services to t
he marketplace.
Customer satisfaction is an ambiguous and abstract concept and the actual manife
station of the state of satisfaction will vary from person to person and product
/service to product/service. The state of satisfaction depends on a number of bo
th psychological and physical variables which correlate with satisfaction behavi
ors such as return and recommend rate. The level of satisfaction can also vary d
epending on other options the customer may have and other products against which
the customer can compare the organization's products. Because satisfaction is b
asically a psychological state, care should be taken in the effort of quantitati
ve measurement, although a large quantity of research in this area has recently
been developed. Work done by Berry, Brodeur between 1990 and 1998 defined ten 'Q
uality Values' which influence satisfaction behavior, further expanded by Berry
in 2002 and known as the ten domains of satisfaction. These ten domains of satis
faction include: Quality, Value, Timeliness, Efficiency, Ease of Access, Environ
ment, Inter-departmental Teamwork, Front line Service Behaviors, Commitment to t
he Customer and Innovation. These factors are emphasized for continuous improvem
ent and organizational change measurement and are most often utilized to develop
the architecture for satisfaction measurement as an integrated model. Work done
by Parasuraman, Zeithaml and Berry between 1985 and 1988 provides the basis for
the measurement of customer satisfaction with a service by using the gap betwee
n the customer's expectation of performance and their perceived experience of pe
rformance. This provides the measurer with a satisfaction "gap" which is objecti
ve and quantitative in nature. Work done by Cronin and Taylor propose the "confi
rmation/disconfirmation" theory of combining the "gap" described by Parasuraman,
Zeithaml and Berry as two different measures (perception and expectation of per
formance) into a single measurement of performance according to expectation. Acc
ording to Garbrand, customer
satisfaction equals perception of performance divided by expectation of performa
nce. The usual measures of customer satisfaction involve a survey with a set of
statements using a Likert Technique or scale. The customer is asked to evaluate
each statement and in term of their perception and expectation of performance of
the organization being measured.
OBJECTIVES
The main objectives of the study are:
1. To study the level of consumer satisfaction towards Titan Watches
2. To study factors influencing consumer satisfaction towards Titan Watches
3. To study the different factors responsible for consumer dissatisfaction.
HYPOTHESIS
Ho: Consumers are not satisfied. H1: Consumers are satisfied.
RESERCH METHEDOLOGY
Universe: Bilaspur Area
Sample size: 100 Respondent
Sample unit: Titan Watches Consumer
Research design: Descriptive
Collection of data: -
Primary data: Through Questionnaires
Secondary data: Internet, Newspaper, Magazines
Data Analysis
No. of Watches Owned * No. of Titan Watches Owned
No. of Titan Watches Owned 1 No. of Watches Owned 1 1 2 3 5 more than 3 Total 0
0 0 0 0 1 0 2 13 3 0 2 20 2 0 1 12 15 1 11 40 3 0 0 0 4 1 3 8
No. of Watches Owned * No. of Titan Watches Owned
No. of Titan Watches Owned All No. of Watches Owned 1 2 3 5 more than 3 Total 0
0 0 0 0 2 2 Total 1 3 25 22 2 18 71
Chi-Square Tests Asymp. Sig. (2sided) .000 .012
Value Pearson Chi-Square Likelihood Ratio N of Valid Cases 95.979a 36.863 71
df 20 20
a. 24 cells (80.0%) have expected less than 5. The minimum expected is .01.
Duration of Being a User * Like in Titan Watch * Gender Like in Titan Watch Gend
er Duration of Being a User Total Female Duration of Being a User 1-2yr 2-4 yr L
ess Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less
Than 1yr More Than 4yr Total 9 7 0 0 16 0 2 3 0 5 Like in Titan Watch Gender Du
ration of Being a User Total Female Duration of Being a User 1-2yr 2-4 yr Less T
han 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Than
1yr More Than 4yr Total 5 4 2 2 13 0 3 0 0 3 Style Total 1 1 21 23 6 6 56 4 6 3
1 14 7 12 4 4 27 4 1 0 1 6 Brand Name Design
Chi-Square Tests Gender Female Pearson Chi-Square Likelihood Ratio N of Valid Ca
ses Male Pearson Chi-Square Likelihood Ratio N of Valid Cases Value 7.712b 10.93
2 56 15.322c 17.570 14 6 6 .018 .007 df 6 6 Asymp. Sig. (2sided) .260 .091
b. 7 cells (58.3%) have expected less than 5. The minimum expected is 1.39. c. 1
2 cells (100.0%) have expected less than 5. The minimum expected is .21.
Duration of Being a User * Get Discount on Titan Watch * Gender
Get Discount on Titan Watch Gender Female Duration of Being a User 1-2yr 2-4 yr
Less Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Les
s Than 1yr More Than 4yr Total Yes 10 11 4 4 29 4 1 2 0 7 No 11 12 2 2 27 0 5 1
1 7 Total 21 23 6 6 56 4 6 3 1 14
Chi-Square Tests Gender Female Pearson Chi-Square Likelihood Ratio N of Valid Ca
ses Male Pearson Chi-Square Likelihood Ratio N of Valid Cases Value 1.355a 1.379
56 8.000b 10.182 14 3 3 .046 .017 df 3 3 Asymp. Sig. (2sided) .716 .710
a. 4 cells (50.0%) have expected less than 5. The minimum expected is 2.89. b. 8
cells (100.0%) have expected less than 5. The minimum expected is .50.
Duration of Being a User * Guaranty on Titan Watches * Gender Guaranty on Titan
Watches Gender Female Duration of Being a User 1-2yr 2-4 yr Less Than 1yr More T
han 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Than 1yr More Than
4yr Total 1 Yr 13 12 2 3 30 1 5 1 1 8 2 Yrs 4 7 2 2 15 3 0 0 0 3
Guaranty on Titan Watches Gender Female Duration of Being a User 1-2yr 2-4 yr Le
ss Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less
Than 1yr More Than 4yr Total More than 2 Yrs 4 4 2 1 11 0 1 2 0 3 Total 21 23 6
6 56 4 6 3 1 14
Chi-Square Tests Gender Female Pearson Chi-Square Likelihood Ratio N of Valid Ca
ses Male Pearson Chi-Square Likelihood Ratio N of Valid Cases Value 2.192a 2.190
56 13.562b 13.715 14 6 6 .035 .033 df 6 6 Asymp. Sig. (2sided) .901 .901
a. 8 cells (66.7%) have expected less than 5. The minimum expected is 1.18. b. 1
2 cells (100.0%) have expected less than 5. The minimum expected is .21.
Duration of Being a User * Warranty on Titan Watch * Gender
Warranty on Titan Watch Gender Female Duration of Being a User 1-2yr 2-4 yr Less
Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Th
an 1yr More Than 4yr Total 1 Yr 12 12 1 3 28 2 3 1 1 7 2 Yrs 6 6 3 2 17 2 2 0 0
4
Warranty on Titan Watch Gender Female Duration of Being a User 1-2yr 2-4 yr Less
Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Th
an 1yr More Than 4yr Total More than 2 Yrs 3 5 2 1 11 0 1 2 0 3 Total 21 23 6 6
56 4 6 3 1 14
Chi-Square Tests Gender Female Pearson Chi-Square Likelihood Ratio N of Valid Ca
ses Male Pearson Chi-Square Likelihood Ratio N of Valid Cases Value 3.468a 3.740
56 6.500b 7.468 14 6 6 .370 .280 df 6 6 Asymp. Sig. (2sided) .748 .712
a. 8 cells (66.7%) have expected less than 5. The minimum expected is 1.18. b. 1
2 cells (100.0%) have expected less than 5. The minimum expected is .21.
Duration of Being a User * Faced Problem In Guaranty Period * Gender
Faced Problem In Guaranty Period Gender Duration of Being a User Total Female Du
ration of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total Male Durat
ion of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total 1 1 8 9 1 2 2
0 0 1 2 0 3 13 14 5 4 36 4 5 1 1 11 No Yes Total 1 1 21 23 6 6 56 4 6 3 1 14
Chi-Square Tests Gender Pearson Chi-Square N of Valid Cases Female Pearson Chi-S
quare Likelihood Ratio N of Valid Cases Male Pearson Chi-Square Likelihood Ratio
N of Valid Cases Value .a 1 1.132b 1.253 56 5.091c 5.322 14 3 3 .165 .150 3 3 .
769 .740 df Asymp. Sig. (2sided)
a. No statistics are computed because Duration of Being a User and Faced Problem
In Guaranty Period are constants. b. 4 cells (50.0%) have expected less than 5.
The minimum expected is 2.14. c. 8 cells (100.0%) have expected less than 5. Th
e minimum expected is .21.
Duration of Being a User * Replaced or Repaired * Gender
Replaced or Repaired Gender Duration of Being a User Total Female Duration of Be
ing a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total Male Duration of Being
a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total 1 1 8 9 1 2 20 0 1 2 0 3
4 5 0 2 11 Not Needed Repaired
Replaced or Repaired Replaced Duration of Being a User Total Female Duration of
Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total Male Duration of Bei
ng a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total 9 9 5 2 25 4 5 1 1 11 T
otal 1 1 21 23 6 6 56 4 6 3 1 14
Chi-Square Tests Gender Pearson Chi-Square N of Valid Cases Female Pearson Chi-S
quare Likelihood Ratio N of Valid Cases Male Pearson Chi-Square Likelihood Ratio
N of Valid Cases Value .a 1 4.889b 5.726 56 5.091c 5.322 14 3 3 .165 .150 6 6 .
558 .455 df Asymp. Sig. (2sided)
a. No statistics are computed because Duration of Being a User and Replaced or R
epaired are constants. b. 8 cells (66.7%) have expected less than 5. The minimum
expected is 1.18. c. 8 cells (100.0%) have expected less than 5. The minimum ex
pected is .21.
Duration of Being a User * Cost of Servicing Reasonable * Gender
Cost of Servicing Reasonable Gender Duration of Being a User Total Female Durati
on of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total Male Duration
of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total 1 1 1 4 2 2 9 1 2
2 0 5 20 19 4 4 47 3 4 1 1 9 No Yes Total 1 1 21 23 6 6 56 4 6 3 1 14
++++
Chi-Square Tests Gender Pearson Chi-Square N of Valid Cases Female Pearson Chi-S
quare Likelihood Ratio N of Valid Cases Male Pearson Chi-Square Likelihood Ratio
N of Valid Cases Value .a 1 4.672b 4.805 56 2.022c 2.293 14 3 3 .568 .514 3 3 .
197 .187 df Asymp. Sig. (2sided)
a. No statistics are computed because Duration of Being a User and Cost of Servi
cing Reasonable are constants. b. 4 cells (50.0%) have expected less than 5. The
minimum expected is .96. c. 8 cells (100.0%) have expected less than 5. The min
imum expected is .36.
Duration of Being a User * Need Servicing of Titan Watch * Gender Need Servicing
of Titan Watch Gender Female Duration of Being a User 1-2yr 2-4 yr Less Than 1y
r More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Than 1yr M
ore Than 4yr Total Never 7 5 3 2 17 1 1 2 0 4 Once a Year 4 7 1 2 14 3 0 0 0 3 1
-2 Yr 5 9 1 2 17 0 3 1 0 4
Need Servicing of Titan Watch Gender Female Duration of Being a User 1-2yr 2-4 y
r Less Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr L
ess Than 1yr More Than 4yr Total 2-5 Yr 5 2 1 0 8 0 2 0 1 3 Total 21 23 6 6 56 4
6 3 1 14
Chi-Square Tests
Gender Female Pearson Chi-Square
Value 6.292a
df 9
Asymp. Sig. (2sided) .710
Likelihood Ratio N of Valid Cases Male Pearson Chi-Square
7.002 56 16.819b
9 9
.637 .052
Likelihood Ratio N of Valid Cases
18.075 14
9
.034
a. 10 cells (62.5%) have expected less than 5. The minimum expected is .86. b. 1
6 cells (100.0%) have expected less than 5. The minimum expected is .21.
Duration of Being a User * Time Taken on Servicing * Gender Time Taken on Servic
ing Gender Female Duration of Being a User 1-2yr 2-4 yr Less Than 1yr More Than
4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr
Total 1 Day 7 4 1 2 14 1 1 1 1 4 2-4 Days 4 9 1 2 16 1 2 0 0 3 2-7 Days 5 6 3 1
15 1 2 2 0 5
Time Taken on Servicing Gender Female Duration of Being a User 1-2yr 2-4 yr Less
Than 1yr More Than 4yr Total Male Duration of Being a User 1-2yr 2-4 yr Less Th
an 1yr More Than 4yr Total More Than 7 Days 5 4 1 1 11 1 1 0 0 2 Total 21 23 6 6
56 4 6 3 1 14
Chi-Square Tests
Gender Female Pearson Chi-Square Likelihood Ratio N of Valid Cases Male Pearson
Chi-Square Likelihood Ratio N of Valid Cases
Value 5.168a 5.013 56 5.619b 6.479 14
df 9 9 9 9
Asymp. Sig. (2sided) .819 .833 .777 .691
a. 10 cells (62.5%) have expected less than 5. The minimum expected is 1.18. b.
16 cells (100.0%) have expected less than 5. The minimum expected is .14.
Duration of Being a User * Service Centres Known of Titan * Gender
Service Centres Known of Titan Gender Duration of Being a User Total Female Dura
tion of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total Male Duratio
n of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total 1 3 0 0 4 2 0 0
0 2 13 10 4 4 31 0 5 3 0 8 4 2 1 1 8 0 0 0 1 1 1 2 3
Service Centres Known of Titan Gender Duration of Being a User Total Female Dura
tion of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total Male Duratio
n of Being a User 1-2yr 2-4 yr Less Than 1yr More Than 4yr Total 3 8 1 1 13 2 1
0 0 3 More Than 3 Total 1 1 21 23 6 6 56 4 6 3 1 14
Chi-Square Tests
Gender Pearson Chi-Square N of Valid Cases Female Pearson Chi-Square Likelihood
Ratio N of Valid Cases Male Pearson Chi-Square Likelihood Ratio N of Valid Cases
Value .a 1 6.324b 7.016 56 24.986c 20.306 14
df
Asymp. Sig. (2sided)
9 9 9 9
.707 .635 .003 .016
a. No statistics are computed because Duration of Being a User and Service Cente
rs Known of Titan are constants. b. 13 cells (81.3%) have expected less than 5.
The minimum expected is .43. c. 16 cells (100.0%) have expected less than 5. The
minimum expected is .07.
Hypothesis Testing
Null Hypothesis Customers of Titan are Satisfied Alternate Hypothesis Customers o
f Titan are not satisfied
ON THE BASIS OF INTERPRETATIONS OF THE CHI SQUARE ANALYSIS WE CAN SAY THE CUSTOME
RS ARE SATISFIED AND NULL HYPOTHESIS IS ACCEPTED
Suggestions Given By the Respondents
Varied responses were received for this question. All the responses have been su
mmarized as follows: Introduce more trendy and innovative designs Focus on niche
markets such as working men and women Spread awareness about availability of wa
tches in lower segments as most of the consumers feel that Titan brand is synony
mous with premium watches. Take steps to change consumer perception that Titan w
atches are high priced. Improve after sales service.
Findings Of The Survey
The findings of the consumer awareness survey are listed below: 72% of the respo
ndents in the age group of 20 30 years possess fastrack watch. This shows that t
he positioning strategy of these watches has been good. Most of the consumers pr
efer Titan watches for their attractive designs and good quality. However, there
is a misconception about pricing of Titan products among the consumers. They pe
rceive them to be high priced. Logos and taglines are rarely noticed by the watc
h consumers. Hence, any change in them also goes unnoticed. Advertisement in mas
s media such as television, newspapers, and magazines are best means to spread a
wareness about brand. Celebrity endorsement of watches not only increases the vi
sibility of the product but also gives an assurance to the consumers that it is
of high quality. Titan watches designs are rated as good by 78% of the respondents.
This indicates that they are looking forward for more innovative designs to be
introduced by the company.
Only 50% of the respondents have seen the new campaign launched by Titan
watches in July 2008. This implies that the reach of the campaign in six months
has been to more or less half of the consumers. However, those who have seen the
new campaign consider it to be effective in conveying the message it intended t
o deliver, i.e., to be more in lives. The after sales service and behavior of sale
s personnel have been given low ratings compared to other variables mentioned in
the questionnaire with respect to Titan exclusive showrooms.
Conclusion
The suggestions to improve consumer awareness about brand repositioning strategy
of Titan is as follows: To increase its visibility, Titan Company can sponsor eve
nts similar to fashion shows in which all latest designs launched are displayed.
This would have multiplier effect as the latest designs launched by the company
gets noticed by different segments of the customers in varied ways. Tie up with FM
radio channels for reminder advertisements and informing customers about variou
s sales promotion offers from time-totime.
Invest more in R&D as customer expectations are changing rapidly.
Though Titan has got more product collections, it should focus on introducing mo
re varieties in already existing product collections. In other words, having a l
imited but more depth in product collections would be more advantageous.
Introduce exclusive collection for working women which is more
contemporary and complements both traditional and western wear.
Majority of the population in India live in rural areas. So, showrooms
should be set up at places nearer to them. Introduce cheaper and rough use watch
es for this segment. After sales service has to be improved. That is, the process
of servicing and repairing of watches should be made faster. This can be done by
ensuring the spare parts availability and training all sales personnel in Titan
showrooms to undertake these tasks.
Tie up with international watch brands and make them available
locally.
Make use of internet to spread awareness among consumers about
the brand.
BIBLIOGRAPHY
1) 2) Marketing management (PHILIP KOTLAR) RESEARCH METHODOLOGY ( C.R KOTHARI)
References
www.itcportal.com www.wikipedia.org www.moneycontrol.com www.economictimes.india
times.com www.google.com
Customer Satisfaction of Titan Watches in Bilaspur City
Dear Respondent, The fallowing questionnaire presented to is a part of research
project undertaken by me in fulfilment of my educational curriculum of MBA Sem I
I. The information providided by you by taking part in the survey will be kept c
onfidential and be used for educational purpose only Thanking you, Rani Chamlate
MBA Sem. II Chouksey Engineering College Bilaspur C.G.
General Information
Name:.................................................................... Age: .
...................................................................... Occupatio
n: ........................................................... Gender Male Femal
e
Address.........................................................................
.............. .................................................................
.................................... ...........................................
.......................................................... Contact No. Ph.......
................................................... Mb..........................
..............................
1. Do You Own a Titan Watch Yes Less than 1yr 1 - 2 yr No 2-4 yr 2. For how much
Time Do You Own a Titan Watch More than 4yr
3. How many watches do you own 1 3 More ......... 3 All Brand Name Other ......
........... No. 2 4. How many of them are Titan 1 2 5. What you like in Titan Wa
tch Style Design Yes
6. Do you get any discount on Titan Watch ?
7. How much Guaranty do you get on Titan Watch? None 1yrs 2yrs More than 2yrs
8. How much Warranty do you get on Titan Watch None 1yrs 2yrs More than 2yrs
9. How many Service Centers you know of Titan 1 2 3 More than 3
10. How of often you need servicing of your Titan Watch Once a year 1-2 yrs 11.
How much time it took for servicing 1 day 2-4 days 4-7 days More than 7 days 2-5
yrs never
12. Have you ever face problem in your watch during Guaranty period ? Yes Replac
ed Reasonable Yes No No Repaired 13. Is the Watch Replaced or Repaired on such o
ccasions 14. Do you think the cost of Servicing your Titan Watch is
15. I Like Titan Watch because .................................................
............................................................................. ..
................................................................................
............................................ ...................................
................................................................................
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