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Fishbein Model- Titan and Timex

# Fishbein Model- Titan and Timex

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07/26/2013

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# UNDERSTANDING CONSUMER BELIEFS AND EVALUATIONS

Using the Fishbein Model ( Multi - Attribute Attitude Model )

GROUP MEMBERS: Atul Saboo Saurav Jalan Tarun Daga Uma Balakrishnan

AGENDA

Fishbein Model
 Using the Fishbein Model

       

Focus Group Study Sample Details Sample Questions Attitude Towards Titan Attitude Towards Timex Key Observations Comparison Between the Brands Recommendations

FISHBEIN MODEL
MODEL :  Ao = ∑ ( bi * ei ) to n

where i = 1

  Ao   Bi   Ei

= Attitude towards the object

= extent of belief that object possesses attribute i = evaluation of attribute i

USING THE FISHBEIN MODEL

STEPS :
1. Identify some important attributes in that product category 2. 3. Design questionnaire to measure belief and evaluation and conduct survey 4. 5. Analyze the data collected to see consumer’s attitudes towards the brands 6. 7. Make recommendations for improving the market position of the brand

FOCUS GROUP STUDY
      

Conducted two focus group discussions within Praxis of 6 people each Enumerated various attributes of wristwatches which came to light Clubbed similar attributes into 7 salient attributes Designed questionnaire on the basis of attributes highlighted

SAMPLE DETAILS
Sample Size: 30  Type of Sampling: Convenience & Judgment  Technique: Intercept interview  Survey Locations:

 South City Mall  Kalighat Metro Station  Merlin Residency

SAMPLE QUESTIONS

For Belief :  How far do you think accuracy is present in Titan and Timex? Low presence High presence 1 2 3 4 5 6 7 8 9 10 For Evaluation :  How important do you feel is accuracy as an attribute in a wristwatch? Unimportant Very Important -3 -2 -1 0 +1 +2 +3

 

ATTITUDE TOWARDS TITAN
ATTRIBUTES Accuracy Durability Price Style Innovation Variety Trust Overall Attitude Bi 8.167 8.367 7.733 8.1 7.8 8.2 8.433 Ei 2.133 2.167 0.367 2.6 1.967 2.367 2 BiEi 17.422 18.127 2.836 21.06 15.34 19,407 18.667 111 . 059

ATTITUDE TOWARDS TIMEX
ATTRIBUTES Accuracy Durability Price Style Innovation Variety Trust Overall Attitude Bi 6.733 6.933 6.6 6.167 4.9 5.2 6.133 Ei 2.133 2.167 0.367 2.6 1.967 2.367 2 BiEi 14.364 15.022 2.42 16.033 9.636 12.306 12.267 82 . 05

KEY OBSERVATIONS
  

As observed , Titan is perceived as the leader brand in each attribute Hence Timex , with lower scores , is a follower brand Price is not very important for consumers, showing people are more willing to spend on the product Style and variety score higher than accuracy and durability. This shows the move from being just a timepiece to an accessory & fashion statement Low durability score shows the attitude of people wanting to change watches frequently

COMPARISON BETWEEN THE BRANDS
 Most important attributes sought by

respondents:

  STYLE

▪ Style ▪ Variety ▪ Durability TIMEX (Bi*Ei) TITAN (Bi*Ei) DIFFERENCE 16.03 12.31 21.06 19.41 18.13 -5.03 -7.1 -3.11

VARIETY

DURABILITY 15.02

RECOMMENDATIONS

Timex should concentrate on improving style and variety of its watches
 Product assortment should cater to different segments

and versatility should be increased
 Positioning should portray a diverse array of wrist

accessories

Perceived difference between style of Titan & Timex, and variety of Titan & Timex, should be reduced Durability need not necessarily be worked upon because:
 Difference is not very high vis-a-vis the other two

attributes

THANK YOU!!!

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