You are on page 1of 86

CONTENTS

CHAPTER 1 INTRODUCTION Introduction Aims and objective of the Study Methodology Limitations CHAPTER - 2 HISTORY OF WATCHES Introduction Types of watches Historical development of watches Modern time keepers CHAPTER 3 COMPANY PROFILE Introduction Products Corporate Social Responsibility About Titan Watches - origin and company profile Types of Titan Watches Types of Sonata Watches Brands for Titan SONATA WATCH Types of Sonata Titan Watches CHAPTER -4 MARKETING FUNCTIONS Definition Marketing mix policy CHAPTER - 5 RUBY WATCHE COMPANY A FIRM PROFILE CHAPTER 6 SURVEY ANALYSIS CHAPTER -7 SUGGESTIONS AND CONCLUSION Annexure Questionnaire Bibliography

MARKETING SURVEY OF SONATA WATCHES a case study of RUBY WATCHE COMPANY

CHAPTER 1 INTRODUCTION TO THE PROJECT

Introduction Aims and objective of the Study Methodology Limitations

CHAPTER - 1 INTRODUCTION Change is the only constant factor in the business, Economic condition changes, customers need changes, people attitude changes, technology changes, and people working in the organization changes and most important market changes. Hence it is very important for a firm to track these changes and to update its plans and strategies. The field of consumer behaviour study encompasses the study of the process that consumer undergo while making purchase decision and this field is gaining more attention of market researcher and manager. The manager must have to perform the following 3 important functions. They are; To define or identify the consumer or market. To define market characteristics. To study the impact of growing competition. An attempt has been made in this project report to analyze these aspect in connection with the consumer durable product like sonata watches and the element of consumer behaviour that play a role in the purchase of sonata watches.

Sonata watches have become one of the essential needs of modern days. The demand for watches is increasing at a higher rate. To meet the growing demand, more number of manufacturers is coming up both in large scale industries. Watches are at present being produced by several industries both in public and private sectors in India. In this project report an attempt has been made to analyze the marketing of Sonata watches in general and the problems concerning to RUBY WATCH COMPANY, which is one of the leading watch seller in Shimoga. Certain suggestions have been given for the improvement of the marketing activity of RUBY WATCH COMPANY. I hope these suggestions might help in changing or modifying the marketing of RUBY WATCH COMPANY. Aims and objective of the study 1. To analyse the factor that influences the watch buyer in making his purchase decision. 2. To make an interfere comparison study among leading watch manufactures. 3. To study the Sonata watch market in general and consumer behavior. 4. To gauge the popularity of leading watch manufacturer and reason for the same.

5. To define the present market situation factors controlling these situations and knowing about the control of the factors. 6. To set up a plan for keeping in touch with the behaviour of this factors. 7. To access the market share of RUBY WATCH CO dealing in sonata watch and wall clocks in local market and to make suggestion for augmenting theyre marketing efficiency if necessarily. Methodology Using both primary data and secondary data and getting some valuable information from the owner of the firm has completed this project report. Primary data is the first hand data that is the data collected for the first time. In this report primary data is collected in the form of consumer questionnaire. Nearly 50 consumers have answered the questionnaire and have helped greatly to draw conclusions A half of dozen of dealers selling particularly SONATA watches were interviewed personally and their opinion about the product and its demand and marketability was collected.

For the purpose collection of primary data respondents from all the area of Shimoga City have been taken in to consideration. The community of Shimoga City is divided into different sections like Employee, Students, Housewifes, etc, for the purpose of distributing questionnaire. Secondary data is the second hand data collected from any published sources. Secondary data have been collected from any books and also from some of the records of the firm. Secondary Data 1. NEWS PAPERS 2. MAGAZINE 3. INTERNET 4. QUESTIONNAIRE 5. ENCYCLOPEDIA Limitations: Followings are the limitation factors Time constraint Co-operation of dealers Co-operation of customer Co-operation of customer relationship Non co-operative and hesitated to provide information

CHAPTER - 2 HISTORY OF WATCHES

Introduction Types of watches Historical development of watches Modern time keepers

CHAPTER-2 HISTORY OF WATCHS Introduction Watch is a portable mechanical timepiece. Clocks had originally been weight driven but after the invention of mainspring by Peter Henley of Nuremberg they could be made portable. Early watches are made in Germany and Blois in France. By the middle of 20th century it was being contented that they originated in Italy mechanism. The rate of going of a watch (i.e., its time keep) is governed by a controlling element in the form of an oscillating system. Since the latter part of the 19th century this has been taken in the form of the balance in spring. The energy required maintaining the balance in spring. The energy required maintaining the balance in oscillation is stored in the mainspring and replacement. When the watches wound the energy stored in the mainspring is transmitted to the balance by the wheel train and escapement, the motion of the balance itself controlling the release of encashment and consequently the phase of maintaining impulses.

A friction drive to the hand is provided from the wheel rotating at a convenient rate usually once per hour. The hands may then be set to time without deranging the remainder of the watch. TYPES OF WATCHES 1. Sonata watches: Until the beginning of 20th century watches were almost invariably made to be carried in the pocket. However the sonata watches gain popularity and after 30 years more than 50 sonatawatches were made to one pocket watch. The diameter of the movements of mens sonata watches range from roughly 23 to 30 mm, while ladies movements are commonly between 14 to 20 mm. the modern watch runs for about 40 hours. 2. Chronographs: It was developed by E.D. Johnson in 1855 to measure the interval ( in sporting events for example). In these watches an additional second hand is engaged with the wheel train by pressing pendant disengaged by a second pressure and returned to zero by a third. Split second chronographs have two chronograph second hand they begin to move together and one can be stopped to take a reading and then made to catch

10

up with the other. It is thus possible to take the times of more than one competitor in rate. 3. Self winding watches: Louis Record eon in London took out the first patent on the self winding pocket watch in 1780. the early self-winding watches operated on the pedometer principle. The development of the self winding sonata watch date from the invention of an English man John Harvard who secured patent in 1924. between 1930-1945 much development work was carried out in Switzerland and wide range of self-winding watches were being made there else where in 1960s HISTORICAL DEVELOPMENT OF WATCHES Interval between any two events is said to be time. The knowledge of time and its measurement has undergone changes along with the needs of mankind. Early time keepers: Watch, as a consumer durable has become necessity than a luxury item. It performs various functions like time keeping, alarm, etc, so as to keep the owner aware of time, its usage, etc. as every body is time bound he like to have a watch preferably an attractive elegant or slim one. Though it started as time showing aid, it performs many additional

11

functions like a having a T.V set, Radio, Data bank. Today sonatawatches have become an extension of personal wear meant for style. Conscious customer looking for designer watches. The horological industry has an ancient fascinating history. To analyze it s history in brief different milestone are claudicated. In the earliest watch the only way to measure time, though roughly was through observation of the Suns movement on the sky. It was the first that the earliest known timekeepers are the Sundials and Water clocks of ancient Egypt. The Sundial is an Egyptian shaped instrument kept in the Berlin Museum. The Arabs were using it till 1900 AD. The movement of earth around the sum was discovered as it was in a fixed path and with a fixed speed. The shadow of any object on earth was found to vary in size with the passing of the time in a day by a definite amount and direction which is known as Gadgets. Since sundials did not function in night, water clocks were used in several countries, particularly in ancient Egypt (1400 B.C) to record time at night or when the sum was observed. These were bucket shaped vessel from which water was allowed to escape by a small hole at the base. Along with the development of water clock, sandglasses also known as sand clocks were introduced which measured time by means of sand running from one glass vessel to another through a narrow passage. The time taken for the passage of certain quantity of sand grains was called as Gaits and it was divided into further units Vightis.

12

Then came, after some centurys pendulum concept. Galilio first discovered the pendulum concept in 1581. A pendulum is a system, where an inelastic thread hanged from a support carries a weight in the other end. Here, it was noted and mathematically proved that the time the suspended mass takes to oscillate will be independent of the mass of the thread of the suspension on the weight. That is time of oscillation is directly proportional to the square root to acceleration due to gravity in that place. This helped a lot to use this time fixed mechanism when the length is kept fixed to show time. This motion is also known as Simple Harmonic Motion or S.H.M., It was further observed after some years that even a spring carrying a mass, also performs a S.H.M. i.e., time fixed oscillation. Mechanical clocks. By 18th century clock had no pendulum instead it had deviate called worked by few weighted arrows oscillating slowly. Next it was the necessity to carry this time showing mechanism along with the mechanism using the basis as their Heart could be sized down to a smaller and smaller size, so that it came as sonatawatches. The early watches were very large measuring some four to five inches (100 to 125 mm) in diameter and about three inches (75mm) thick, they were carried out in hand.

13

The first mention of a sonatawatch was made in 1571. as the article become more and more popular, it become smaller until finally expending bracelets were being made which were no more two millimeter in width. MODERN TIME KEEPERS Until the 1920, the mechanical clocks the pendulum or balanced controlled and weights of spring driven. Different standards of construction and finish were employed for different application. Special devices to overcome temporary and parametric were incorporated in clocks for scientific purpose, the underlying clock principles being the same. The commercialization of self-winding Sonatawatches took place in 1929. but even here one drawback was there because after definite lapse of time, the time mechanism had to be given energy form outside is by winding. So people who felt it was difficult, went for automatic watches which would wind itself. The science of Electronics first influenced scientific and precision time keeping with the invention of the Crystal clock in 1926. in 1959 Bolivia Watch company announced the word first electronic watch the Aceutron. It was the first clock to use tuning fork as the timing element.

14

QUARTZ: Next it was the accuracy that quartz had come in case with a lighting year. It was the wonder material Quartz with its salient Piezo Electric Effect. That did help in putting giant steps to measure time very accurately. When an electric supply is given to quartz crystal it vibrates with an astonishingly stable frequency based on the geomeaty of the crystal. This effect is called P.E Effect. This quartz is used as a source of giving definite frequency in an oscillator circuit miniature. One frequency is 33.768 cps (Cycle per second). The development in Semi-Conductor- Technology helped to tag this quartz feature to be incorporated in a highly miniaturized integrated circuits is I.C. This I.C takes power from a disc like battery of 1.5 volt capacity and gives finally an electric signal, once on every second with an accuracy of approximately + / - 3 seconds variation in 3 months. This signal drives a Stepper Motor once again miniaturized which rotates through a fixed angle per each pulse. This rotation is

15

converted to the hand movement by a certain set of gear trains. This mechanism- based watch is called Quartz Analog Watch. If the same electric signal is used to drive a digital display, it will be called digital watch. With insistent research carried on different parts of the world it is still to be seen the next development in watch making and watch mechanism.

16

CHAPTER 3 COMPANY PROFILE Introduction Products Corporate Social Responsibility About Titan Watches - origin and company profile Types of Titan Watches Types of Sonata Watches Brands for Titan SONATA WATCH Types of Sonata Titan Watches

17

CHAPTER 3 COMPANY PROFILE Introduction Titan Industries was established in 1984 as a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. The company brought about a paradigm shift in the Indian watch market, offering quartz technology 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 prices. In addition it focused on the youth with its third brand Fastrack. It has also premium fashion watches by acquiring a licence for global brands such as Tommy 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 the brand Tanishq to capitalize on a fragmented market operating with no brands in urban cities. In 2005, the company launched its second Jewellery brand, Gold Plus, for capitalizing on the opportunity in small towns and rural India.

18

The company has now diversified into fashion Eyewear by launching Fastrack Eye-Gear sunglasses, as well as Prescription Eyewear. The Company leveraged its manufacturing competencies and branched into Precision Engineering Products and Machine Building 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 admired brands in their categories. Products The company manufactures over 8 million watches per annum and has a customer base of over 80 million. It has manufacturing and assembly operations at Hosur, Dehradun, Roorkee and Baddi in Himachal 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 architecture 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 the 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 several other collections like Wall Street, Heritage, Regalia 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
19

first Swiss Made watch Xylys is for the hi-end connoisseur and new age achiever. It also markets Tommy Hilfiger watches under a licensing arrangement and is introducing Hugo Boss. Today, the Titan portfolio has over 60% of the domestic market share in the organised watch market. The company has 222 exclusive showrooms christened 'World of Titan', making it amongst the largest chains in its category. Titan watches are sold through over 12,000 outlets 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 benchmarked operation with a network of 750 service centres and amongst the world's fastest turnaround times. The company has a world-class design studio for watches and 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 wide range in 22kt pure gold. Platinum jewellery is also a part of the product range 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 Plus' 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 has sunglasses under Fastrack brand and prescription

20

eyewear consisting of Frames, Lenses, Sunglasses, Accessories and Contact Lenses of in-house brands and other premium brands. Recognition The company 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 World, 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 Products Division of the company was awarded the JRD QV Award in 2006. Corporate Social Responsibility Titan Industries has a clearly defined policy on social responsibility and believes that an organisation cannot be an island of excellence in a sea of troubled waters. CSR initiatives include children's

21

education, enabling the disabled, Artisan Parks, Women's empowerment, environment management programmes and other community initiatives. Titan is a signatory to the Global Compact and has been awarded the Helen Keller and Mother Teresa awards. Significantly, the President of India's Award for employing the disabled has also been awarded to the company. The manufacturing units of Watch and Jewellery Divisions at Hosur are certified under ISO 9001: 2000 Quality Management System standards as well as ISO 14001 Environment System Standard. About Titan Watches - Origin and Company Profile In 1984, the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) entered into a joint venture to form Titan Industries. With its quartz technology and international styling, the company brought about a paradigm shift in India's watch market. Having developed a clear understanding of the various segments in the watch market in due course of time, Titan launched a second independent brand of functionally styled watches at reasonable prices and named it "Sonata". In a few years, it came up with yet another brand, and this time, it was for the youth called "Fastrack". The sheer growth of Titan industries has enabled it to acquire license for global brands such as Tommy Hilfiger, Hugo Boss, and the first Swiss watch brand, Xylys in recent years. Today, Titan Industries has 3,800 employees working under it in its factories in Hosur, Dehradun, and Goa for watches, accessories, and jewelry line Tanishq,

22

which is also, one of its recent ventures. It manufactures over 8 million watches a year for its customers that are 10 times bigger than its produce. In India, Titan markets its products through its 222 exclusive showrooms named "The World of Titan", and over 12,000 outlets in over 2,500 cities in the country. It also has an overseas market in over 30 countries, mostly in the Middle-East and Asia Pacific regions. The company also has huge reputation for delivering high-quality after-salesservice through a network of 750 service centers. It also boasts of its outstanding design studio for watches and accessories. Read on to know more about the different Types of Titan Watches Types of Sonata Watches Sonata offers watches for every occasion. The main collections under it include:

Formal - a perfect fusion between sophistication and function, the watches are available in haute fashion of leather and metal combinations. Dresswear - another fusion, this time between ethnic and contemporary. These designer watches come in all-gold and bicolor look with intricately designed bracelets and patterned dials. Fashion - the steel-gold, steel-leather and all-steel perfectly suit the hands of young professionals and range from highly fashionable to simple looks.

23

Sporty/Casual - the collection features wrist-gears with groovy colors and funky styles; bold, broad straps and trendy metal bracelets for girls and sports watches in leather and metal straps for the boys. Luxury - these are crafted from 18 karat solid gold and inlaid with precious stones, pure leather straps, sapphire crystal for resistance against scratch, customized message engraving and a lifetime guarantee. Economy - designed for the largest set of customers, the watches in this category are stylish yet affordable. Technology - in keeping with the demands of changing times, the watches have features like stopwatch, timer, and magnetic compass, to name a few.

24

Sonata Watches
Sonata-37 Sonata-47 Sonata-46 Sonata-43 Sonata-45

Price : 2765 Sonata-48

Price : 2599 Sonata-64

Price : 2499 Sonata-73

Price : 2495 Sonata-70

Price : 2475 Sonata-50

Price : 2425 Sonata-74

Price : 2245 Sonata-69

Pri ce : 2245 Sonata-68

Price : 2145 Sonata-29

Price : 1999 Sonata-41

Price : 1995 Sonata-30

Price : 1799 Sonata-56

P rice : 1795 Sonata-61

Price : 1699 Sonata-34

Price : 1695 Sonata-31

P Pri ce : 1675 rice : 1655 ce : 1655

Pri

P rice : 1650

P rice : 1645

25

Sonata-2

Sonata-72

Sonata-4

Sonata-10

Sonata-9

Price : 2699 Sonata-25

Price : 2599 Sonata-13

Price : 2595 Sonata-11

Price : 2395 Sonata-12

Price : 2325 Sonata-24

Price : 2145 Sonata-23

Price : 2095 Sonata-28

Price : 2075 Sonata-3

Price : 1945 Sonata-26

Price : 1945 Sonata-27

Price : 1899 Sonata-22

Price : 1880 Sonata-21

Price : 1879 Sonata-18

Price : 1795 Sonata-20

Price : 1775 Sonata-19

Price : 1699

Price : 1475

Price : 1449

Price : 1399

Price : 1195

26

Brands for Titan The main brands that have reigned on the Indian market for Titan over the years are:

EDGE Through cutting edge watch-making technology and four years of research and development, Titan has created sensation by coming up with the world's slimmest wristwatch "Titan Edge" of just 3.5 mm in thickness and a wafer thin movement of 1.15 mm. NEBULA The Trousseau Collection of expensive jewelry watches for women from Titan bear intricately carved designs in paisley and floral patterns. Watches may also have pearl dials, or studded with 16 diamonds, or deftly crafted in solid Gold of 10 carats. FASTRACK This range has become the obsessions of the Indian youth, for their digital technology, trendy shapes, and casual and sporty designs. RAGA The watches in this collection are exclusively for women, whose gold, steel and bicolor looks with leather bands or metallic bracelets signify feminine grace and substance. REGALIA The exclusive range of watches in gold and steel are meant for social occasions

27

BANDHAN The collection in gold that is solely available in pairs, has been a 'must buy' for weddings FLIP The favorite among professionals, the watches enable their owners to switch from sporty to corporate look or between professional and personal occasions with a "flip" of the dial. SONATA The wide collection that includes 400 models of watches is designed for customers, who look for a mix between durability and affordability. These wrist-gears are water resistant (for up to 30 meters) and come in metallic and a host of other cases with a guarantee of 1 year. XYLYS The collection added was another feather in Titan's cap that consisted of a premium selection of watches that are the result of exquisite craftsmanship. The collection was created by Titan's design advisor Michael Foley in collaboration with renowned Swiss designer Laurent Rufenacht. OCTANE Launched in early 2008, this chronograph collection for men comes in steel-and-chrome with a choice of eye-catching dials that complement a true metrosexual.

28

SONATA WATCH Sonata Titan Watches is one of the most popular brands of watches in India for quality and reasonable price tags. Comprising of both analog and digital watches, the metal strap of the Sonata Watches is a big hit with the Indian working class men. The Sonata Titan Watches comes in over 650 models in plain gold, steel, dual tone and plastic watches that are suitable for various occasions, styles and personalities. Types of Sonata Titan Watches Among the most popular Sonata titan Watches with their respective age groups are: Titan Sonata SF Watches: The Titan Sonata SF (Super Fiber) watches have been introduced in India to counter the threat of cheap Chinese watches and others of spurious quality. A perfect combination of analogue and digital watches, the Titan Sonata SF Watches are priced in the band Rs 275-Rs 550 and targets the youth segment in the age group of 16-20 years. Titan Sonata Delightful Duo: Titan has come up with two wonderful watches that come in a pair- one for man and the other for woman. Dubbed as Sonata Delightful Duo the watches have refreshingly new design. The Titan Sonata watches for men have large rectangular dials with a delicate finish and golden chain like bands. The watches for

29

women have a similar make with a personification of feminine grace. The Sonata Delightful Duo is a wonderful gift item. Titan Sonata Yuva Collection: The Sonata Yuva collection consists of a series of young, trendy and colorful watches targeted for the younger generation of India. This is also captured in the tag line that says Naya Josh, Naya Vishwas. Every watch in this collection has a combination of patterns and colors on the dial, which are extended on the straps. The Yuva collection watches are available in both gold and steel look, with both metal and leather straps thereby offering a great variety. Titan Sonata Solid Steel Collection: The Titan Sonata Solid Steel Collection of watches has been designed for the consumers in the age group of 20-30 years across all urban classes. This "solid style" collection comprises 24 models and is expected to redefine the style quotient of the growing steel watch category. Titan Sonata Gold Plated Watches: The Titan Sonata gold plated watches are popular with specially the Indian middle class. The collection start at Rs 395 in a leather strap (gold plated case) and Rs 550 with a gold plated metal strap (gold plated case). There are 40 models in this collection. Titan Sonata Watches known as "5 Ghadi ke barabar" comes with the backing of being a Tata product with five clear functional attributes,

30

Affordability, looks, 1 Year Guarantee, Waterproof and Durability. You better own one! Titan Sonata Watches in India Associated with the Indian working class, the Titan Sonata watches collection comprises of both analog and digital watches. The metal strap of the Sonata watches is a big hit with the Indian working class men. Today, Sonata is Titan's brand for the economy market and is the largest watch brand in India in terms of volume sales. The Titan Sonata watches come in over 650 models across various looks and designs in plain gold, steel and dual tone watches that are suitable for various occasions, styles and personalities. Recently, Titan Sonata watches has forayed into the plastic watch arena as well. Here are some of the Titan Sonata watches available in India:

Titan Sonata SF Watches Titan Sonata Delightful Duo Watches Titan Sonata Yuva Collection

Titan Sonata SF Watches The Titan Sonata SF (Super Fiber) watches have been introduced at the watch market in India to counter the threat of cheap Chinese watches and others of spurious quality. A perfect combination of analogue and digital watches, the Titan Sonata SF Watches are priced in the band Rs. 275-Rs. 550 and targets the youth segment in the age group of 16-20 years.

31

Titan Sonata Delightful Duo Watches Titan has come up with two wonderful watches that come in a pair - one for man and the other for woman. Dubbed as Sonata Delightful Duo the watches have refreshingly new design. The Titan Sonata watches for men have large rectangular dials which a delicate finish and golden chain like bands. The watches for women have a similar make with a personification of feminine grace. The Sonata Delightful Duo is a wonderful gift item.

Titan Sonata Yuva Collection The Sonata Yuva collection consists of a series of young, trendy and colorful watches targeted for the younger generation of India. This is also captured in the tag line that says 'Naya Josh, Naya Vishwas'. The watches in the Yuva collection are available for both ladies and gents at an extremely affordable price. The Yuva collection watches are available in both gold and steel look, with both metal and leather straps thereby offering a great variety to the consumer. The Titan Sonata "Yuva" watches are available at all World of Titan stores and exclusive Sonata showrooms and more than 10,000 authorized Sonata dealers across India.

Titan Sonata Solid Steel Collection The Titan Sonata Solid Steel collection of watches has been designed for the consumers in the age group of 20-30 years across all
32

urban classes. Steel look watches are a growing trend among the young, trendy and style conscious buyer. The overall watch market in India is estimated to be around 36 million and steel look watches comprise about 30 percent of the market. This "solid style" collection comprises 24 models and is expected to redefine the style quotient of the growing steel watch category. While steel has always stood for being durable and strong, it is now being increasingly seen as stylish and sporty.

Titan Sonata Gold Plated Watches The Titan Sonata gold plated watches are popular with specially the Indian middle class. The collection starts at Rs. 395 in a leather strap (gold plated case) and Rs. 550 with a gold plated metal strap (gold plated case). There are 40 models in this collection. Sonata is the 'Value for Money' watch brand from Titan Industries Ltd. It is targeted at consumers seeking durability and value, with a clear positioning of "No compromise watch". Sonata comes with the backing of being a TATA product with five clear functional attributes Affordability, Looks, 1 Year Guarantee, Waterproof (up to 30m water resistant) and Durability. It is therefore known as "5 GHADI KE BARABAR an equivalent for no-compromise watch. It is India's largest selling watch brand with a wide range of watches in different traditional designs for gents and ladies.

33

Sonata brand ambassador - MS Dhoni

The company is extensively promoting the offer through a series of TV ad campaigns featuring none other than the hottest young cricketing icon and Sonatas brand ambassador, MS Dhoni. Dhoni can be caught on all leading TV channels across the country announcing the offer and expressing his readiness to grab a Sonata watch by saying Mai to tayaar hoon. The ad comes across as a short and witty offer announcement and seems to work well due to the surprise element emoted perfectly by the cricket star.

34

Speaking on the offer, Mr. C. Srinivasan, Business Head, Sonata, The Sonata Offer is in line with our brand strategy to compel customers to create a distinct style and personality with the seasons must have accessory a Sonata watch. What makes this offer extra special is that consumers can now buy a more expensive watch of their choice and get a greater discount The Sonata consumer offer can be availed at all Sonata showrooms, World of Titan Showrooms, Timezones and all authorized Sonata stores across the country.

35

CHAPTER -4 MARKETING FUNCTIONS

Definition

Marketing mix policy

36

CHAPTER -4 MARKETING FUNCTIONS DEFINITION: Marketing is a comprehensive term and it includes to direct and facilitate the flow of goods and services from producers to customers in the process of distribution. Marketing comprises all activities involved in the determination and satisfaction of consumer needs. Marketing encompasses all activities of exchange conducted by producers and middleman for the purpose of satisfying consumer needs or demand. The American marketing association defines marketing as The performance of business activities that direct the flow of goods and services from producers to consumers or users. This definition does not clarify the business activities to be included in marketing. It only emphasizes distribution aspects of the market and fails to stress managerial aspects of marketing. Philip Kotler defines Marketing as The set of human activities directed at facilitation and consummating exchange. The essence of marketing is exchange of products and transaction is to satisfy human needs and wants with the changing of time, definition is prescribed in the past also requires modification.

37

The institute of Marketing of the United Kingdom defined Marketing as The inactive management function, which promotes trade and employment by assessing consumer needs and initiating research development to meet them. It co-ordinates the resources of prevention and distribution of goods and scope of total effort required to sell profitably the maximum production to the ultimate users. Accordingly, the Council of the institute of the Marketing defined Marketing as the management function which organizes and directs all those business activities involved in assessing and converting customer purchasing power into effective demand for a specific product service and in moving the product or service to the final consumer or users so as to achieve the profit target or other objectives set by a company. What Marketing Does? It is available to understand what is included in marketing activities. Marketing is invariably connected with the insight or research in to customer behaviour, namely what the customer wants, needs, performance and value, who are the prospects and where they live, their incomes and mode of spending, how they make purchase decisions and so on. Marketing deals with the product policy i.e., what type of products or products should be manufactured. The determination of price and the

38

terms of payments are also covered in the product policy. The amount of discount to be allowed to the distributor of the products and whether to insists on cash payment or allow the customer deferred payment facilities, must also be considered while formulating the product policy. Marketing decides the channels of distribution taking into consideration the availability of the distributor, salesman , compensation, training of salesman, and placement of salesman. Marketing is also concerned with advertising and promotion. Example, whether the advertising should be done on the radio or in magazines or newspaper or television or not at all it also decides the mode of advertising programs as well as sales promotional methods and displays finally. It also deals with the type of organization required for marketing effectiveness. Thus, marketing tries to define the right type of products in terms of the companys objectives and attempts to make it available at right place and at the fight price, with the right promotion. All these function attempts to perform in tern sof the consumers at whom the activities are aimed. This is described as consumer orientation. Decisions in these areas are assisted by marketing research. Meaning of Marketing: Marketing refers to all business activities involved in the determined creation and satisfaction of human wants at fair prices. The meaning of term marketing is studied under two concepts: a. Traditional marketing concepts.

39

b. Modern marketing concepts. According to traditional marketing concepts marketing refers to the sum of total of all those activities, which are related to the flow of goods from the point of origin to the point of consumption. Traditional concepts were Sales oriented, mere distribution is given importance in traditional concept. According to modern marketing concept, marketing is the process of discovering and translating consumer wants in to products and services and then in turns of helping, making it possible for more and more consumers to enjoy more and more of these products and services. Modern marketing is consumer oriented. It is designed to satisfy the needs, requirements and acceptance of the consumer. Consumer oriented marketing is a different job. It is conditioned by two sets of factors, which are as follows; a. Controllable factors b. Uncontrollable factors Controllable factors or internal factors are those factors, which is in the hold of organization. They include Price, Promotion, Production and Physical distribution. These four elements are popularly known as 4ps of marketing. Uncontrollable factors are those factors, which cannot be controlled by an organization. They include consumers behaviours traders behaviour, competitors behaviour and government behaviours.

40

Importance of Marketing: Marketing is recognized as most significant activity in our society. Marketing is all around us. Our very existence, our entire economic life style are continuously affected by wide range of marketing activities. The food we eat, the cloths we wear, the house that shelters us, the comforts we enjoy at our home and work place, the wealth and welfare activities which gives us peace of mind, all these are greatly effected each by day by the marketing systems. Marketing along can give goods and services we want and used at our doors, our entire economic life fails to shoulders its main responsibility discovering and serving market demand. Marketing has achieved social importance because it is entrusted with the task of creation and delivery of standard of living in society. Marketing is the vital connecting link between producers and consumers. Optimum production and optimum consumption can secure optimum standard of living in an economy. Marketing is directly responsible to maintain equilibrium between mass production and mass consumption.

41

Marketing Functions: The functions of marketing are classified as follows:

MARKETING FUNCTION

Functions of Exchange

Functions of Physical Supply

Facilitating Function

Buying and Assembling

Transportation

Financing

Selling

Storage

Risk Bearing

Standardization and Grading

Marketing Information

42

1. Functions of Exchanges: Functions of exchange refers to the functions related to the transfer of goods from the producers or merchants to the consumer. They include buying and selling. Buying in marketing implies buying goods by manufacturers for using production for re-sale. Buying refers to purchase of right quality of goods in right quantity at right time from the right source at right place. Assembling starts only after buying is over. Collection of some type of goods bought from different places at one central point is known as assembling. Selling is the sum of total of all those activities that help in transfer of goods from seller to the buyer at the profitable price. Selling includes following functions. a. Product planning. b. Contractual functions. c. Demand creation. d. Negotiations. 1. Functions of Physical supply: Physical supply function refers to those functions, which are connected with the creation of time and place utility. This include: a. Transportation: It refers to physical movement of goods from the place of production to the place of consumption. Transportation is an integral part of marketing.

43

b. Storage: It refers to holding and preserving of goods between the time of their production and time of their use. 2. Facilitating functions: Facilitating functions refers to all those marketing functions, which facilitate process of exchange, they include: a. b. Financing: financing refers to provision of finance for meeting Risk bearing: Marketing involves a number of risks owing of the financial requirement of various activities. on force contingencies. There may be determination of goods in the warehouses or loss by theft or loss by fire. They may become unsaleable. c. Standardizing and Grading: Standardization means establishment of standards based on certain physical properties of the product. Standards are set by referring of size, colour, shape, taste, weight, etc. Shorting out the goods according to certain standard and classifying them into different groups constitute grading. c. Market information: Accurate and up-to-date information of the market condition is essential for successful marketing. With the help of information many of the marketing problems can be solved or new products can be introduced or policy may be changed.

44

MARKETING MIX POLICY The marketing mix is the interplay of 4 basic and inter related elements of a marketing program the 4 Ps product, price, promotion and physical distribution. They will be examined one at a time, but it is of primary importance that to realize that they are interdependent. A change in one element usually brings on a change in the others. Proper organization of these elements is the key to a sound marketing program. a. Product mix policy of Sonata: One major management aspect involved in product policy is the decisions concerning product mix. The product mix is one of the elements in product policy. This more important now a days since most of the manufacturers are diversifying their products. The products policy decisions are made of these different levels; products mix, product items and product lines. These three in one elements make the product planning effective. Product mix is the list of all products from sale by a company. The composite of products offered for sale by a firm or a business unit. The product mix is three dimensioned; it has breadth, depth and consistency. Breadth is measured by the number of variety of products manufactured by a single manufacturer. Depth refers to the assortment of sizes, colours and models offered with in each product lines either to their end use or the production requirements or to distribution channels or to other variables.

45

Branding Policy of Sonata: The term Brand is a comprehensive one. In one way or the other, it includes more particularized terms. A brand is a name, symbol or design or a combination of them, which is intended to identify the goods or service of one seller or group of sellers and to differentiate them from those of competitors. A brand name consists of words and letters. A brand mark is a part of the brand. It appears in the form of symbol or design. The brand and trademark more or less synonymously are to be differentiated. A trademark is an identifying mark that gives legal protection to a company. Hence all the products of that, if it is so desires, will go with the same trade mark. It is for the customers to identify the company for its good will. The entire products manufactured by the Sonata will have the brand name printed and also covered about the product. Because of the popularity of the Sonata brand name is it easy for the agent to market the product without much difficulty. It is also advantages on part of the consumers to purchase Sonata watches without any suspects about the quality of the products. Packing Policy of Sonata watches: A good package is the representation of the artistic combination of the designers creative skills and the product and marketing and sales knowledge of the manufacturer management team. The development of packaging is the sum total of the talents of the designs, the researcher, technicians, the advertising man, the marketing export, the sales department and the top management. At the time, it may include in the

46

team of the use of packaging committee and packaging directions, the role of independent designer and delegation of market research in the solution of the packaging problem. Packaging is general group of activities in product planning which involve designing and producing the container for the product. Packaging is a brand activity that require careful consideration by the management. The potentialities of packaging especially in the field of demand creation have been widely accepted now. It is often remarked as a silent salesman. This is perfectly correct because of its advertising appeal, identifying power and intristinsic value. Packaging is more important to the Sonata Company because all its products are sensitive and delicate. SONATA sonata watches requires a flexible plastic stand and a transparent plastic cap to cover watch and the stick to the stand. The container should be of good quality and it should be easy to open and close the container. Good packaging can attract more consumers, it is a strategy of marketing product. b. Pricing Policy of Sonata: One of the most important and critical areas in marketing management is the pricing of product. It is the second P in the marketing mix. Decisions on pricing have considerable effect in marketing. A wrong pricing decision can nullify the effect of a right decisions relating to price and reflect many things. Price is a vital importance to both the buyer and sellers. In money economy without price there can be no marketing.

47

Price is one of the most important elements in the marketing mix. It is the only element in the marketing mix that produces revenue, all other elements represents cost. Hence companies will have to give utmost importance to pricing and handle it very carefully. Price is not revised often enough to capitalize on market changes. Price is set independently of the rest of the marketing mix rather than as an intrinsic element of market positioning strategy and price is not varied enough for different product items and market segments. The price of various models of Sonata watches are done carefully and through investigations of the cost of the goods, the market position, the competitors and the rise in price etc. as for a pricing policy is concerned, they will give least importance to competitive because they have competitors over the market. c. Distribution policy of Sonata: In the modern world, production and distribution have become very complex. Goods are produced in far away places, where as consumers are scattered throughout the country and abroad in certain circumstances. The producers will not be able to sell goods directly to the ultimate consumers. The reasons are many, the producers lacks financial resources, he has to maintain large sales force. The products may not justify the establishment of separate sales outlets, problems of management and control arise instead of spending a lot of time and energy on distribution, he can concentrate on production, and so on.

48

Naturally he has to depend on intermediaries for the physical distribution of his goods. A channel of distribution is an organized network of agencies and institution that in combination performs all the activities required to link producers with users and users with producers, in order to accomplish the marketing task. The channel enables the seller to find out the users of its merchandise and helps the buyers to obtain the product he wants. A channel of distribution for a product is the route taken by the title to the product as it moves from the producers to the ultimate consumers or industrial users. A channel is the pipeline through which a product follows on its way to the consumers. The manufacturer puts his products into the pipeline or marketing channel and various marketing people move it along to the consumers at the other end of the channel. A channel of distribution is the particular route through which a product moves from the manufacturer to the consumer who wants it and in this process the title is also transferred to the consumer. A channel usually includes three parts The producers, Final consumers and the Middleman who are engaged in the transfer of title.

49

Channel of the distribution of the company is as follows:

SONATA CO

C & F AGENT

Company Exclusive Show Room

R.D.S ( Re Distributor Stockist) Dealers Subbabhatta & Brothers

Consumer

d. Promotion mix policy of Sonata: The term promotion is very often need as a synonymous world for selling, but selling is narrow term which includes only transfer of title. Promotion is a broader term and includes varieties of activities. Promotion involves the creation and expansion of demand. After product planning and development, it is introduced in the market and its demand is enhanced through the promotional activities. Promotion is any communicating activities whose main objectivitys are to move forward product, service or idea in a channel of distribution. It is an effort by the marketer to inform and persuade buyers

50

to accept research recommend or used in the article, service or ideal which is being promoted. The promotional activity always attempts to effect knowledge, attitude and preferences and behaviour of buyers. The overall purpose of promotion is to influence buyers behaviour and to establish a link between the products and consumers. The increased competition between different industries has mad customers more selective in their buying choice and a good promotional program is need to reach them. A good promotional mix involves by the company or co-operation of sales force activities and other promotional efforts. Each promotional route has its own unique characteristics and cost.

51

CHAPTER - 5 RUBY WATCHE COMPANY A FIRM PROFILE

52

CHAPTER - 5 RUBY WATCHE COMPANY A FIRM PROFILE

Introduction The case study in this project reference to the firm name RUBY WATCH COMPANY. It is located at Neharu Road shimoga. It is the oldest shop in shimoga. It has made a good name in its service and sales of sonata , titan, timex, etc. The shop was first opened in the year 1986 . The proprietor Mr Sunil K Navaly and in his brother.But as the days passed and in the competitive business it will be very difficult to maintain so much of items. In the Later year the firm was selling only imported watches like Rolex Titoni fever laybs Tites etc .But recently firm deals with wide rang of watches. It maintains new different s bands like TIMEX, TITAN , HMT etc it also deals with variety of watch etc. The firm started with the capital of just 150000 rs. But now it has goodwill and also a sufficient capital. ORGANISATIONS STRUCTURE First the firm was a sole trading firm. But later proprietor Sunil k Navale had two Brothers. Mr. Anil k & Mr.kiran k who were now the partners of the firm . Mr. Sunil k who looks after the payments. Mr. Anil looks after the purchase and sales. Mr Kiran looks after the service

53

of watches and also towards the sales. They have also two experienced. technical who looks after wall clock. The firm is mainly running with its name, service and also good sales of quality watches like TITAN, SONATA. In wall clock AJANTHNA AND SAMAY. In the Tip ORPAT 7 SAMAY. Accounting to the views of the partners of the firm the sales of SONATA watches is gradually increasing of new patterns of watches with least price is The gold plating of SONATA Watches is also good. Marketing mix of Ruby watch company and marketing Marketing is very important in modern Economy present marketing is consumer oriented. Consumer is the king in the market It begins with the consumers and end with the consumers. Modern marketing aims to satisfy the needs requirements and expectations of the consumer. Phillip Kotler defines the marketing mix as The set of controllable variable that the firm can use to influence the buyer response. Marketing of wrist watches is also one of the keen factors to be identified. Now a days marketing of watches is done by Advertising. Boards & Banners in the cities and also giving add in T.V and also other medias.

54

First when the firm started there was lesser computation compared to now a day. But latter on due to complex & advanced marketing skill been introduced and many firms were opened so that it increases the competition in the business world. Marketing mix depends upon certain other factors like product. Price, promotion and distribution. Must be done properly by the company. These elements are known as 4 ps marketing. These four elements must be combined in the right proportion so as to result in effective marketing plan. Decision about the marketing mix strategy is product; price, promotion and distribution are done through the company. Product: Product is nothing but The thing that is offered to a market for attention, acquisition, use or consumptions that might satisfy a want of need or The thing that is offered to the market to satisfy customer need. It includes physical objects, service personal, places organization and ideas. Here the product refers to the Sonata Watches. The Sonata watch is distinguished with its model, quality with its advances features and also the shape and thickness of the watch. Factory of SONATA watch is located in Noida which describes the watches to its distributors who were appointed all over India. So the Sonata watches will be billed by the distributes watches to particular area. As per the order depending on model number, the Sonata watches will be distributed to the firm by distributor.

55

b. Price: Price is an important factor which influence the market for the product, pricing assumes 9 significance role in a competitive economy. Too much price for a product will have its adverse effect on the product. So before pricing product to study the market strategies very well . Pricing of the product is very important factor to the company. Wholesaler retailers and also to the customer. Now a days customer is the king so that product should be priced on the need of customer. So in case of Sonata watches the company itself fixes the prices and gives the price list to all its distribution and also to retailers. So the margin for distributors & retailers will be depending upon the commission basis. The following are the different rages of different watch company that the firm sells. TIMES Titan SONATA : Rs. 375 : Rs. 995 : Rs. 395 to to to to Rs 6000 Rs. 4650 Rs. 12750 Rs. 1100

MAXIMA :Rs. 350 C. Promotion:

Promotion is a device of marketing communication in order to move forwards a product or a service or an idea of channels distribution. Promotion is also one of the factor is lmarketing skills. To uplift of the product promotion is one of the basic need. The promotion may be done by different ways depending upon the situation.

56

Following are the elements in promotion mix 1. Advertising. 1. Salesmanship 2. Sales promotion 3. Packaging Some times the Sonata Company itself gives some discounts to the customer. In the festival decision. The firm need not invest the money to advertising as it has good name & reputation in its belt although the company itself sponsors adds in local news papers and also gives T.V adds. Advertising about a product is also main factor which influences more & more to the customers to purchase the particular product more & more enquires will come to the counter only when good adds is given in TV & newspaper. d. Distribution: Distribution system is the last element of marketing mix. After all the factors like product, pricing and promotion it is very important to reach the product to the customer through proper channels. Although the firm with its reputed name the customer will come to firm to choose the good quality watches. So here requires only the proper distribution of watches from distributors to the retailers at correct time. A RUBY WATCH COMPANY is a small concern which sells directly to the ultimate consumers so there is no chain of middlemen,

57

participating in the distribution of goods. The consumer themselves come here to buy their needs. Sales Analysis The following table shows that the sales made by the firm in the last Ten years. Sl. NO. 1 2 3 4 5 6 7 8 9 10 Year 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 Total Sales 19,00,000 19,00,000 20,00,000 19,00,000 21,00,000 21,00,000 27,00,000 60,00,000 70,00,000 85,00,000

As we see, there is many fluctuation in the total sales because of the market that changes in Shimoga. Accounting to Mr. ANIL one of the Brother. In the firm In Shimoga Agriculture is the main income and the firm has lot of village customers. So it depends upon the yield of particular crop in that particular year and also depend on the climate and there factors in the particular year. The firm sells only branded company watches and it give guarantee to the particular product it sells. Capital Structure: The firm is one of the oldest shop in the field of watches. It started in 1986 with capital of Rs. 1,50,000 and it also renovated the shop with

58

latest lighting and latest window display. Recently and now the investment has reached to Rs. 4,00,000 Problems: Too much of problems is not faced by the firm as it is one of the old firm. From starting till now it is giving good services to the customers. And here the product prices will be fixed by the company so the job of the firm is just to sell the branding watches and to give the good services. No other factor will influence the profit of the firm. Because the firm sell the product on the basis of commission. Therefore the profit of the sales depends upon total sales made by the firm. If the firm sells more products the firm will get more profit and vice verse. Advanced Technology In SONATA: Recent innovation of Sonata Watch has launched the new watch by name perpetual calendar watch Here i this watch the day to Date has been setted for 100 years. So there is need not to change the date whether it may have 30th in this month and 31st in the other. The watch has improved movement. This is the new revolution in the field of watch. The wast of this watch starts from 2495 to 4745 with various designs and look. The models are all in steel case with straps & steel chain. The firm will sold this watch in any time . This is the reputation of the firm as well as company.

59

CHAPTER 6 SURVEY ANALYSIS

60

CHAPTER 6
SURVEY ANALYSIS

Introduction Today, consumer is the king in the market. Consumer is the only judge. The repetition of a product is entirely dependent upon his attitude towards the product. So his satisfaction should be the ultimate motto of the producers and consideration while taking marketing decision. It is through consumer satisfaction only the producers and marketers can improve their sales and profit. Many opinions will come when a survey is made for preference, improvement of a product, but the opinion of consumers is more important. This survey report gives analysis of opinion collected from the different class or sections of people residing in Shimoga. For the purpose of survey the method of Questionnaire is used. Answer given by the respondents are annualized and classified. 50 persons have answered the questions and have helped to make this survey a great success. The opinion are shown on all the tables formed below given in percentage wise.

61

Table -1 Table showing the number of respondents wearing watch Opinion Yes No Total Number of respondents 46 4 50 Percentage 92 8 100

Although only 4 out of 60 respondents who were contacted do not wear watch. It is clear a large section of people likes to wear the watch.

No 8%

Yes 92%

62

Table -2 Table showing reasons given by the respondents wearing watches Opinion Time keeping Status Fashion Others Total Number of respondents 39 3 3 1 46 Percentage 84.7 6.5 6.5 2.1 100

The above table shows that out of 46 respondents, who wear watch, 39 people wear watches for time keeping, 6 people wear watches for status and fashion and only 1 respondent wear watch for other person.

Graph showing reasons given by the respondents wearing watches

63

39 40 35 30 25 20 15 10 5 0 Time keeping Status Fashion Others 3 3 1

64

Table -3 Table showing respondents preferring a particular brand and reasons for their preferences SONATA TITAN H.M.T 11 3 0 02 07 01 21 25.6 5 5 2 15 32.6 0 2 1 3 6.5 OTHERS TOTAL % 1 15 32.6 4 1 1 7 15.2 11 15 5 46 100 23.9 32.9 10.8 100

Latest Technology Price Latest Design Others Total Percentage

Out of 46 respondents who wear watches all of them stick to particular brand for one or other reason from the above table it is clear that latest technology is the important factor which play a major role in the preparing a particular brand

65

Table 4 Table showing the place of purchase Place of purchase Authorised dealer Company show room Abroad Others Total Number of respondents 30 10 05 01 46 Percentage 65.2 21.7 10.8 2.1 100

It is clear from the above table that 65% out of 46 respondents purchased their watches from the authorized dealer.

66

Graph showing the place of purchase

30 30

25

20

15 10 10 5 5 1 0 Authorised dealer Company show room Abroad Others

67

Table 5 Table showing how the respondents were introduced to a product Media T.V Advertisement News Papers Friends Others Total Number of respondents 30 08 07 01 46 Percentage 65.2 17.3 15.2 2.1 100

The above table shows that 30% out of 46 respondents came to know about SONATA WATCHES through T.V. advertisement followed by 8 through news paper, 7 through friends and 1 through media

68

Graph showing how the respondents were introduced to a product

30 30

25

20

15

10

5 1 0 T.V Advertisement News Papers Friends Others

69

Table 6 Table showing the respondents preferences selection a particular brand in future Brand Name SONATA TITAN H.M.T Others Total Number of respondents 28 08 07 03 46 Percentage 60.8 17.3 15.2 6.5 100

From the above table it is clear that 60.8 % of respondents wishes to buy SONATA watches in future, followed by 17.3% to TITAN, 15.2% H.M.T AND 6.5 to other.

70

Graph showing the respondents preferences selection a particular brand in future

30 25 20 15 10 5 0

28

7 3

SONATA

TITAN

H.M.T

Others

71

Table 7 Table showing the opinion of the respondents about the preferences of the SONATA watch Opinion Satisfactory Unsatisfactory Total Number of respondents 42 04 46 Percentage 91.3 8.6 100

From the above table it is clear that more than 80.8% of the respondents are satisfied with the performance of SONATA watches.

72

Graph showing the opinion of the respondents about the preferences of the SONATA watch

Unsatisfactory 9%

Satisfactory 91%

73

Table 8 Table showing the reasons for satisfactory performance of SONATA watches Reasons Superior Quality Reasonable Price Accuracy Others Total Number of respondents 22 03 10 07 42 Percentage 52.3 7.1 23.8 16.6 100

It is clear from the above table that out of 46 respondents, 42 respondents are satisfied with the performance of SONATA watches. 22 respondents are satisfied for its superior quality, 10 for its accuracy, 7 for other reasons and 3 for reasonable price.

74

Graph showing the reasons for satisfactory performance of SONATA watches

25

22

20

15 10 10 7 3

0 Superior Quality Reasonable Price Accuracy Others

75

Table 9 Table showing whether the respondents with the service offered by authorized dealer RUBY WATCH COMPANY. Opinion Yes No Total Number of respondents 38 08 46 Percentage 82.6 17.3 100

38 respondents out of 46 were satisfied with the service offered by the authorized dealer RUBY WATCH COMPANY

No 17%

Yes 83%

76

Table 10 Table showing the reasons for spatiality of the SONATA watches as compared to other watches Reasons Price Qualities Performance Others Total Number of respondents 03 09 26 02 40 Percentage 7.5 92.5 65.0 5.0 100

Out of 46 respondents, 40 respondents feel that it is superior than other watch. Out of 40 respondents 26 respondents feels that is its performance, 9 for its quality, 3 for its price and 2 for other reasons.

77

Graph showing the reasons for spatiality of the SONATA watches as


compared to other watches

30 26 25

20

15 9

10

0 Price Qualities Performance Others

78

CHAPTER -7 SUGGESTIONS AND CONCLUSION

79

CHAPTER -7 SUGGESTIONS AND CONCLUSION From the survey conducted and other information available it is clear that SONATA watches are popular among all the section of people. There is a great demand for SONATA watches in the market keeping this point the SONATA India has to increase its production. From the survey it is clear that SONATA faces a stiff competition from TITAN. So in order to meet this competition the SONATA has to concentrate on increasing the marketing of the product as well as to maintain a price which the public can afford. SUGGESTION The following are some of the suggestions for the company in order to improve the SONATA watch sales. 1. Firstly the company should increase the advertising so as to compete with its competitors. Advertising in News Papers, Magazines, Radio, T.V. should be increased on T.V. which is now the more effective media of advertisement. 2. After the survey. I found that many of the respondents are not aware of the marketing ads of the company. So in order to achieve more sales the company has to maintain a proper way of advertising its products.

80

3. Most of the people felt that company is good from the point of view of quality. The company has to maintain the same quality. All these put together helps to achieve higher demand for the product and this increases its sales. CONCLUSION Customer satisfaction is the ultimate motto of every business. Therefore, consumer orientation of marketing is entirely necessary for any type of business, this can be achieved by directing managerial, productive and marketing activities towards the preference of the customer. For this achievement, competitive efficiency, increase in qualities, decrease in cost of production, creation of product and companys image is essential. Quality of SONATA watch is very good. But the marketing of the SONATA watch is only one factor, which influence much on consumer behaviour. By considering all the factors of production, the price of the product must be maintained. Some people say that the price of the product is high, even though they purchase SONATA watch because of superior quality and latest technology. Thus it can be concluded that, SONATA watch with superior quality, technical known how and financial stability can move towards improved marketing strategy, promising customer satisfaction and fair results and investment by regular market research and satisfaction of customer preference.

81

Annexure QUESTIONNAIRE Sir/Madam/Friends, I am ROOPA G. Student of final year BBM of Dr. Ambedkar BBM College, Shimoga conducting the marketing survey of SONATA WATCHES as a part of my course. I would greatly appreciate if you can spare a few minutes to answer this questionnaire by putting tick mark in the space provided. Thanking you, 1. NAME 2. QUALIFICATION 3. ADDRESS 4. AGE 5. OCCUPATION : : : : :

82

6. DO YOU WEAR WATCH? A. YES [ ] B. NO [ ]

7. IF YES WHY DO YOU WEAR WATCH? A. TIME KEEPING B. STATUS [ ] [ ] C. FASHION [ ] D. ANY OTHER [ ]

8. WHICH BRAND OF WATCH DO YOU WEAR? A. SONATA C. H.M.T [ ] [ ] B. TITAN [ ] D. ANY OTHER [ ]

9. IF IT IS SONATA, WHY IT IS PREFERRED, A. LATEST TECHNOLOGY [ ] B. PRICE C. LATEST DESIGN D. ANY OTHER [ ] [ ] [ ]

10. WHERE DID YOU BUY THE WATCH YOU WEAR? A. AUTHORISED DEALER C. ABROAD D. ANY OTHER [ ] [ ] [ ] B. COMPANY SHOW ROOM [ ]

11. WAS THERE SUFFICIENT OF MODELS FOR SELECTION WHEN YOU PURCHASED?

83

A. YES

[ ]

B. NO

[ ]

12. HOW DO YOU COME TO KNOW ABOUT SONATA? A. T.V. ADDS C. FRIENDS [ ] [ ] B. NEWS PAPERS D. ANY OTHER [ ] [ ]

13. IN CASE YOU ARE PLANNING BUY A WATCH, WHICH BRAND IS PLANNING TO PURCHASE? A. SONATA C. H.M.T. [ ] [ ] B. TITAN [ ] D. ANY OTHER [ ]

14. HOW IS THE PERFORMANCE OF SONATA WATCHES? A. SATISFACTORY B. UNSATISFACTORY [ ] [ ]

15. IF SATISFACTORY WHAT ARE THE REASONS? A. SUPERIOR QUALITY B. REASONABLE PRICE C. ACCURACY [ ] [ ] [ ]

D. ANY OTHER REASON [ ] 16. IF UNSATISFACTORY WHAT ARE THE REASONS? A. HIGH PRICE B. UNSATISFACTORY SERVICE C. LOW QUALITY D. ANY OTHER REASON [ ] [ ] [ ] [ ]

84

17. WAS THE SERVICE OFFERED BY OUTHORISED DEALER IS SATISFACTORY? A. YES. A. PRICE 19. IF NO, WHY, A. HIGH PRICE [ ] [ ] [ ] [ ] [ ] [ ] [ ] B. UNSATISFACTORY QUALITY [ ] C. FASHIONABLE D. ANY OTHER A. AFTER SALES SERVICE B. EXCHANGE OF OFFER C. GUARENTY D. ANY OTHER 21. IF ANY SUGGESTIONS: --------------------------------------------------------------------------------------------------------PLACE: DATE: SIGNATURE. [ ] B. NO [ ] [ ] B. QUALITY [ ] 18. IF YES, SUPERIOR IN C. PERFORMANCE [ ] D. ANY OTHER [ ]

20. WHAT FACILITY DO YOU EXPECT FROM YOUR DEALER?

85

BIBLIOGRAPHY 1. MARKETING MANAGEMENT: PHILIP KOTLER 2. MARKETING RESEARCH: MEMORIA & MEMORIA 3. ENCYCLOPEDIA 4. www. sonata.com 5. www.sonataindia.com

86