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A STUDY ON BRAND PREFERENCE OF TITAN WATCHES

A report submitted in partial fulfilment of the Master of Business
Administration in Thiagarajar School of Management

SUBMITTED BY
Monika M.S.

1511060

Under the guidance of: Dr. M. Jeevananthan
Thiagarajar School of Management

Madurai-625015
APRIL 2016

ACKNOWLEDGEMENT

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The culmination of the project work is cornerstone in the life of
any student with the project guide being the driving force
behind. I would like to sincerely thank my project guide Dr. M.
Jeevananthan for giving us an opportunity to do this research
project for our internal evaluation of research methodology and
whose experience and knowledge has helped us immensely in
successful completion of this project.
I am also grateful to our Institute for its guidance.
Working on this project has been a great learning experience. I
am also thankful to all concerned people who have played an
active role in the successful completion of this project.

EXECUTIVE SUMMARY
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With the import duty reduced to 25% (earlier 50%) and with the import license for watch movement being easy to obtain. These small players offered competition to Titan on the price front. but in terms of Titan they don't have the communication. Thus there was a need to foray into these already present segments. but it because of the high costs carried on with status quo but with more emphasis on segments. and reach in terms of distribution. many smalltime players cropped up. But the unorganized sector and low priced options from HMT gave Titan serious competition. Thus Titan launched low priced segment Sonata. while in reality the market is very segmented and distinct. Mistake companies generally make in approaching the rural market is to see as one large lump. but in terms of marketing if we consider Classique or any other brand it was not targeting any particular segment initially with a focus. Titan has been the first one to build upon style.Titan entered the watch market as a premium watch. While has the product and the brand for this market in the form of 'Sonata'. It is also putting in place a strategy to tap the rural market rigorously. 3 . Titan has been facing a dilemma that whether it should market these brands as independent sub-brands or not. The unorganized sector grew very fast — almost 55% of the demand in the total market size of 45million watches was being met by the unorganized sector. whether it was the youngsters or the Children.

2 4 4.LIST OF FIGURES S. Figure no Title 1 3.3 figure showing result of crosstab analysis between gender and preference of TITAN figure showing the analysis why customer shifting fromTITAN. Page Number 11 12 figure showing the relation between monthly 5 4.5 income and the brand preference of TITAN figure showing result of frequency analysis of after service rating 13 14 figure showing result of frequency analysis of 7 4.4 6 4.1 Responses collected through questionnaire 08 2 4.6 occasion on which TITAN Watches are bought 15 4 . No.1 figure showing responses entered in spss 10 3 4.

3 Tools for Analysis ANALYSIS AND INTERPRETATION 4. Questionnaire ii.1 Findings 9 10 10 16 16 5.TABLE OF CONTENT CHAPTER 1 CHAPTER 2 CHAPTER 3 CHAPTER 4 CHAPTER 5 CHAPTER 6 TOPIC ACKNOWLEDGEMENT PAGE NO.1 Review of literature RESEARCH METHODOLOGY 3. I EXECUTIVE SUMMARY Ii LIST OF FIGURES iii INTRODUCTION 1 1.1 Source of Data 1 2 2 6 6 3.1 Background 1.3 Limitations CONCLUSION 17 18 APPENDIX i. References iii.2 Scope of the study 1.1 Analysis and Interppretations RECOMMENDATION AND LIMITATION 5.2 Data Collection 7 3. Bibliography 5 .2 Recommendations 16 5.3 Objective of the Study 1 1 REVIEW OF LITERATURE 2.

1. the reasons of buying the Titan watches and the consumer attitude towards the price of the Titan watches. 1. Titan Industries a TATA group company as created history in the Indian watch industry by manufacturing and marketing different brands of watches not only in Indian market but also in the international market. the market share of Titan watches. Thus time is considered to be a fresher factor in every walk of life. REVIEW OF LITERATURE 2. 2. their preference factors and their negligence.1 Background Today human begins work with the time. 1. In the 18th and 19th century watch industry has flourished in western world only. specifically Switzerland but the second half of the 20th century has seen India emerging an important manufacturer of watches.1 Review of Literature 1 . INTRODUCTION 1. This project work titled “A STUDY ON BRAND PREFERENCE OF TITAN WATCHES” is an effort to study the market response to Titan brand of watches. The various activities to be performed on generally prescribed on the basis of time factor.2 Scope of the study Study covers the awareness of the consumer towards Titan watches. to whichever economic class they belong. Thus the watches have become almost a necessity for human begins.3 Objective of the Study The objective is to determine the customer behaviour towards TITAN watches. Now-a-days we find no person without a wrist watch and a home without a clock.

The micro perspective outlines specific market strategies adopted by watch vendors and their take on evolving watch markets in the country. Kunal Bhattacharya. Economic growth has shown considerable acceleration. which amply reflects in rising disposable incomes and purchasing power. It outlines the attributes that contribute to the consumer likings as the manufacturers would incorporate these aspects in their product strategies to survive under dynamic market conditions. clear about the choices he makes and why does he do so. India’s economy has witnessed transformational changes.Dr. It is among the largest metropolitan economy in the country with one of the highest per capita income earning populous. Indian consumer has remained the most positive about job prospects and personal finances and has consistently reported the highest consumer confidence score. The consequence of this is the emerging Indian consumer who is eager to place his riches on brand. from time keeping devices to a fashion accessory. The study highlights the gradual transformation of watches in India. Josephine Lourdes De Rose[1] Findings Urbanization and an aspiration for a better life supported by higher incomes are reshaping the Indian consumer market. Avadhoot Pol [2] Findings Post-economic reforms of 1991. Dr. Growing economy and rising consumerism endorses itself in the Indian Watch Market also. 2 . Dr. Today the Indian consumer stands assertive and well-informed. Contemporary Indian consumer shows remarkable signs of maturity from what he was in the 80s and 90s. The proposed research study attempts to study the Watch Market in India from a macro and a micro perspective. The macro study endeavours to understand the changing demographic profile of the Indian consumer market and its manifestations on buyer behaviour for watches. This is not only supported by his ability to buy but also availability of substantial options present across the board in all goods and services category. Shikha Jain and Prof. This research study attempts to study the attributes preferred by the consumers of wrist watches through a conjoint analysis as this industry offers a plethora of opportunity to domestic and international marketers. The research work is based in Pune city which epitomizes emerging India. quality and convenience and willing to explore and experiment.

In this scenario. it stands out as extremely attractive for any goods and services provider. Granted. it is not unlike other distracting activities that increase food intake. modern manufacturing processes. Rajesh Kumar Sharma[3] Finding Strength of a nation is now measured based on the level of technology it possesses and with the "technovation" (technology and innovation) is the key for growth of the organization. Scott Zuckerman. and interacting with dining 3 . Aner Tal. TV may lead distracted viewers to mindlessly eat past the point at which a person would usually stop. listening to the radio. Organizations are likely to sustain that are able to identify consumer preferences. It is the single most important factor that drives organization. MD and Brian Wansink. such as reading. Indeed. Prof. PhD. predict market trends. innovate new products and produce world class product and services. By doing so organizations are expected to improve upon their knowledge management function. However. In this.One of the most vibrant markets in Western India. a recent correlational analysis of dinner patterns illustrated that the frequency of TV viewing during dinner was 1 of the 2 largest correlates of adult and child body mass index. PhD[4] Finding Television (TV) has generally been blamed for helping make Americans overweight owing to both its distracting influence and its encouragement of a sedentary lifestyle. The article examines the current trend in new technology and development of human skills in its light. It is in the light of the above. there is a need to clearly identify new technology. It is therefore essential to understand new technology paradigm and dovetail skilled human resource in the process to achieve human factor engineering to enable quality product and services are rendered to the society. the focus to date has been on the medium and not the message. HR functions are required to be seen to meet the impact of technology. ensure quality in production and improve skills of the employees so that they are able to adapt to new environment.

and watches. influence how much food is eaten? Alex Migicovsky. such as the frequency of visual camera cuts or the variation in sound. and a client application on a smartwatch. Its role was just as important in ancient western and eastern empires as it is in modern societies. a smartphone. using a cloud-based service. and pose questions for future research. the consumption of luxury was limited to the elite classes. Sandeep Bhanot[6] Findings The concept of luxury has been present in various forms since the beginning of civilization. The purpose of the study is to understand the growth of the luxury market in India and abroad. Whatever the poor cannot have and the elite can was identified as luxury. Zakir Durumeric. A secondary study is done 4 . to study the luxury industry with respect to luxury watches and suits and to study the purchase behaviour of luxury customers with respect to luxury watches and suits and what motivates them to buy these products. In this work. Alex Halderman [5] Finding Many companies have recently started to offer wearable computing devices including glasses. While this technology enables exciting new applications. how do objective technical characteristics. valence.companions. We discuss the broader implications of this technology. Jeff Ringenberg. we develop an application for the Pebble smartwatch called ConTest that would allow dishonest students to inconspicuously collaborate on multiple-choice exams in real time. we explore these implications and analyze the impact of one of the first networked wearable devices—smartwatches— on an academic environment. it also poses new security and privacy concerns. and J. With the clear differences between social classes in earlier civilizations. As a proof of concept. However. bracelets. suggest hardware and software approaches that can be used to prevent such attacks. to study the profile of Indian luxury customers. For instance. or pace of content influences how much a viewer eats while watching TV. little is known about whether the content. It also meant the definition of luxury was fairly clear.

they should be thinking about how to “buy” cheaper attention and how to use it more effectively. Here. Thales S. The rising cost of this ingredient in the marketplace is causing marketers to waste money on costly attention sources or reduce their investment in promoting their brands. I propose the Attention‐ contingent Advertising Strategy. Then a primary study has been done by taking 50 respondents for luxury suits and for luxury watches from different areas in Mumbai to find out about their purchase behaviour. irrespective of the means to attain it. the profile of luxury customers in India and the luxury industry with respect to watches and apparel and accessories. As the value of attention rises. The market for consumer attention (or “eyeballs”) has become so competitive that attention can be regarded as a currency. To guide the choice of which approach to take. I also show that the cost of attention has increased dramatically (seven‐ to nine‐fold) in the last two decades. attention always comes at a price. a framework to match the most effective approach to the quality of attention contingently available. RESEARCH METHODOLOGY 5 . Lean Advertising. I argue that. Teixeira[7] Findings Attention is a necessary ingredient for effective advertising. and Viral Ad Symbiosis. To counteract this trend I propose novel approaches to lower its cost or use attention more efficiently by adopting multitasker‐tailored ads. 3. Instead. marketers need to become better managers of attention. Research in the emerging field of the Economics of Attention shows how this can be achieved. This paper is intended to help them in this regard.about the luxury market globally and in India.

Researchers collect the data themselves. primary data collection by  Secondary data collection through the internet.1 Source of the Data The required data for the study is collected from Questionnaire. the questions the researchers ask are tailored to elicit the data that will help them with their study. Secondary data originating within the company includes documents such as annual reports. Secondary data is a data previously collected for any purpose other than the one at hand. Innumerable outside sources of secondary information also exist in the forms of government departments and agencies that compile and publish summaries of business data. using surveys. The responses collected for the purpose is a primary data. Trade and industry associations also publish secondary data. reports to shareholders. product testing results perhaps made available to the news media and house periodicals composed by the company’s personnel for communication to employees. An advantage of using primary data is that researchers are collecting information for the specific purposes of their study. Gaining knowledge about the product and services offered by titan watches  Framing a questionnaire for collection of primary data.  Conducting a market survey by taking the responses of the customers around the mapped markets. In essence. interviews and direct observations. customers or others. 3.  Analysing the data  Sampling method-purposive sampling  Data collection methodpreparing a questionnaire. Data collected by the investigator himself/ herself for a specific purpose . Still more data are available in business periodicals and other news media that regularly 6 .

such standardized answers may frustrate users.publish studies and articles on the economy. The responses of the questionnaire are collected through google form. Questionnaires have advantages over some other types of surveys in that they are cheap. The questionnaire used for the survey is closed ended. (3) minimize bias in formulating and asking question. specific industries and even individual companies. Questionnaire A questionnaire is a research instrument consisting of a series of questions and other prompts for the purpose of gathering information from respondents. for some demographic groups conducting a survey by questionnaire may not be concrete. It serves four basic purposes: to (1) collect the appropriate data. (2) make data comparable and amenable to analysis. 3.2 Data Collection The data required for the study is collected from the responses through questionnaire. Thus. Secondary data saves time and money if they help solve he researcher’s problem. secondary data can pinpoint the kinds of people to approach and their locations and serve as a basis of comparison for other data. 7 . Even if the problem is not solved. Questionnaires are also sharply limited by the fact that respondents must be able to read the questions and respond to them. do not require as much effort from the questioner as verbal or telephone surveys. and often have standardized answers that make it simple to compile data. They can aid in formulating the problem statement and suggest research methods and other types of data needed for solving the problem. However. In addition. secondary data have other advantages. and (4) to make questions engaging and varied.

or with replacement.Fig 3. making a census or a complete enumeration of all the values in the population impractical or impossible. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample. In complicated studies there may be several different sample sizes involved in the study: for example. The elements of a sample are known as sample points. Samples are collected and statistics are calculated from the samples so that one can make inferences or extrapolations from the sample to the population. Sample size Sample size determination is the act of choosing the number of observations or replicates to include in a statistical sample. In practice. in astratified survey there would be 8 . the sample size used in a study is determined based on the expense of data collection.1: Responses collected through questionnaire Sample In statistics and quantitative research methodology. in which case it is a subset of a population. The sample usually represents a subset of manageable size. in which case it is a multisubset. Typically. and the need to have sufficient statistical power. sampling units or observations. The data sample may be drawn from a population without replacement. a data sample is a set of data collected and/or selected from a statistical population by a defined procedure. the population is very large.

The software name originally stood for Statistical Package for the Social Sciences (SPSS). Descriptives. The latest release also provides additional simulation modeling techniques to improve modeling and risk analysis. hence the sample size is equal to the population size. The IBM SPSS Statistics family delivers the core capabilities needed for end-to-end analytics. Bivariate statistics: Means. hierarchical). and collaboration and deployment. In a census. we have made enhancements to the features and capabilities of IBM SPSS Statistics Base and its many specialized modules. Nonparametric tests 3. ANOVA. Frequencies.different sample sizes for each stratum. 9 .3 Tools for Analysis SPSS SPSS Statistics is a software package used for statistical analysis. distances). Long produced by SPSS Inc. IBM SPSS Statistics Base enables users to view analytical results on their smart devices for data-driven decision making wherever they happen to be. Correlation (bivariate. 3. K-means. text analytics. reflecting the original market. t-test.. and numerous enhancements to strengthen overall performance. Descriptive Ratio Statistics 2. where a study may be divided into different treatment groups. To ensure that the most advanced techniques are available to a broader group of analysts and business users. The current versions (2015) are officially named IBM SPSS Statistics. partial. cluster analysis (two-step. including the health sciences and marketing. data mining. Prediction for identifying groups: Factor analysis. SPSS is a widely used program for statistical analysis in social science. Prediction for numerical outcomes: Linear regression 4. Explore. Discriminant Analytics plays an increasingly important role in helping your organization achieve its objectives. Companion products in the same family are used for survey authoring and deployment. although the software is now popular in other fields as well. there may be different sample sizes for each group. it was acquired by IBM in 2009. In experimental design. Statistics included in the base software: 1. Descriptive statistics: Cross tabulation. data are collected on the entire population.

1: figure showing responses entered in spss All the analysis options are present in the Analysis menu. Fig 4. Gender * Are_you_a_customer_of_titan Crosstabulation Count Are_you_a_customer_of_titan NO Gender Total Total YES female 0 5 24 29 male 7 10 21 38 7 15 45 67 10 . ANALYSIS AND INTERPRETATIONS 4. Cross tabulation between the gender and preference of TITAN watches were studied. Following are the output obtained based on the analysis.4.1 Analysis and Interpretations The response which was obtained through google form was entered in SPSS. 1. Various analyses were done with the collected data to study the brand preference of TITAN among customers.

The analysis says that maximum female customers are preferring TITAN watches.2: figure showing result of crosstab analysis between gender and preference of TITAN In this analysis there are 3 types of customers – male.Fig 4. female and people don’t wear watches. 11 .

12 . Are_you_willing_to_change_the_brand_from_TITAN * Reason_why_you_dont_prefer_TITANChanging_from_TITAN_ Crosstabulation Count Reason_why_you_dont_prefer_TITANChanging_fro Total m_TITAN_ Attractive Less collection Price Are_you_willing_to_change 1 0 1 0 1 _the_brand_from_TITAN Yes 1 1 4 6 1 2 4 7 Total Fig 4.3: figure showing the analysis why customer shifting from TITAN. Cross tabulation between number of customers shifting the brand and reason for brand shifting from TITAN.2.

3.349 a.114 Beta -.From the analysis it is clear that most people change the brand from TITAN because of its price. Using the regression analysis the relation between the monthly income and reason for preferring TITAN watches are studied.090 6. ANOVAa Model Sum of Squares Regression 1 df Mean Square . Error (Constant) 3.591 . Predictors: (Constant). Dependent Variable: Why_do_you_prefer_TITAN_brand b.869 .332 1 .558 a. All requested variables entered. Enter b a. Dependent Variable: Why_do_you_prefer_TITAN_brand b.000 -.585 . Variables Entered/Removeda Model 1 Variables Variables Entered Removed Monthly_income Method .951 Total 41. 13 .332 Residual 40. Monthly_income Coefficientsa Model Unstandardized Coefficients Standardized t Sig.912 43 .068 . Coefficients B 1 Std. .244 44 F Sig.4: figure shows the relation between monthly income and the brand preference of TITAN From the analysis it is clear that there is no significant relation between monthly income and the brand preference of TITAN. Dependent Variable: Why_do_you_prefer_TITAN_brand Fig 4.558b .522 Monthly_income -.

5 2.3 55.8 Average 10 14.0 Excellent 1 1. How_would_you_rate_after_sales_service Frequency Percent Valid Percent Cumulative Percent Above average Valid Missing 8 11.6 97.2 40.8 67 100. Frequency analysis for after sales service and also on what occasion a customer buy TITAN are analysed and the result for the analysis are as below.4.2 Good 25 37. 14 .2 100.9 17.5 2.8 Poor 1 1.0 Total 45 67.2 100.8 17.0 System 22 32.5: figure showing result of frequency analysis of after service rating Most of the customer who prefer wearing TITAN watches say after sales service was good for TITAN.2 42.9 22.0 Total Fig 4.

0 System 22 32.9 28.6: figure showing result of frequency analysis of occasion on which TITAN Watches are bought Most of the customer purchased TITAN watches for casual wear.3 wedding anniversary 3 4.9 casual buying 26 38. 15 .4 28.7 100.0 Fig 4.8 67 100.7 93.8 86.2 100.0 Total 45 67.8 57.7 Parting gift 3 4.5 6.On_occasion_do_you_intend_to_buy_a_titan_brand Frequency Percent Valid Percent Cumulative Percent Valid Missing Total Birthday gift 13 19.5 6.

Quality of the leather straps (belt) of watches should be improved. Some respondents feel that the price of spares of Titan watches is high and suggest for a reduction in prices. 16 .5.2 Recommendations The survey of consumers has revealed the like and dislikes and taste regarding wrist watches and satisfaction level in relation to Titan industries Ltd. 9. The preference of TITAN was because of its quality. Some respondents suggested that Titan industries Ltd. This may cover rural areas also. 1. 11. They anticipate a reduction in the price. 2. 8. 4. The dealer has to improve after sales service to satisfy the customers. The consumers have forwarded the following suggestions for the consideration of the company and dealers. should manufacture separate kids and sports watches.. 3. Some people don’t prefer TITAN and some tend to change its brand the main reason behind the change was its price. which cater to the taste of different income group customers. 10.1 Findings From the analysis it was found that most of the people who wear watch prefer TITAN as their brand. Some more attractive festival offers and gifts should be given on purchases. 6. One service mechanic must be provided by the company at every showroom to ensure consumers good service and advice. The service for the new watches should be improved. Advertisements in local media should be increased. The respondents feel that the price of Titan watches is too high. 5. RECOMMENDATION AND LIMITATION 5. which can be affordable to all common class of people. All varieties of watches should be made available in show room. 7. Guarantees should be given for costly interior parts of watch. its after sales service and its brand name. 5.

 The customers are busy throughout the day.  They have to be convinced about the secrecy information and then the primary data is collected.3 Limitations  Usually the market is indifferent to providing information about their personal likes & dislikes. So they have to be approached tactfully so as to get the required information.5. 17 . of  The customers have to be convinced about the product and so one needs to have a thorough knowledge of the product before interacting with them.

18 . The company can achieve further success by improvement the suggestions of the consumers. Titan brand watches are in great demand not only in India but also abroad. Though. It is owing to a fact that they come from a Tata group company. The consumer of Titan brand watches are highly satisfied customers having pride in owning and wearing the most sophisticated. Again the company can also consider for a reduction in the prices which may make it market leader in the years to come. there. is increasing demand for all varieties of Titan a watch. CONCLUSION 6. introduce new varieties with changing out look to appeal and attract potential customers for its products. a few suggestions given by the respondents is to be considered by Titan industries.6. The turnover of titan brand of watches has shown uptrend from year to year. Finally it can be said that the performance of Titan watches is not only amazing but also highly satisfactory. Titan watches enjoy a lion‟s share in the domestic watch market. The company has to put its efforts in improving quality of its watches. highly reliable and superior performance watch.1 Conclusion The Titan brand of watches coming from the Titan industries is known for quality and performance in the domestic and international markets.

Occupation • Student • Businessmen/Professional • Govt employee • Other: 4. How often you wear wrist watches? • Regular • Occasion • Don't wear watches 6.APPENDIX QUESTIONNIARE 1. Monthly income • below 15000 • 15000-20000 • 20000-30000 • 30000 above • NIL 5. Age • < 20Years • 21-30 years • 30-40years • 40+ 3. Gender • male • female 2. Are you a customer of TITAN? • YES • NO 1 .

How would you rate the design of TITAN *Required • Poor • Average • Above average • Good • Excellent 5. Since how many years you have been using TITAN?*Required • < 1 year • 1-3Years • 2-5 Years • 5 Years above 3. Why do you prefer TITAN brand*Required • Attractive • Reasonable price • Brand image • Good quality 4.Brand Preference of TITAN 1. Which brand of TITAN do you possess?*Required • Titan • Fastrack • Raga • Nebula • Others 2. How would you rate after sales service*Required • Poor • Average • Above average • Good • Excellent 2 .

Are you willing to change the brand from TITAN*Required • Yes • No Reason: why you don't prefer TITAN\Changing from TITAN *Required • Attractive • Less collection • Price • Quality 3 .6. What type of Watch do you wear*Required • Sports • chain • Bracelet • others 7. On occasion do you intend to buy a titan brand*Required • Parting gift • Birthday gift • casual buying • wedding anniversary 9. What type of strap do you prefer*Required • Leather • Metal 8.

and J. June 2015 2.LIST OF REFERENCES 1. 3. Prof. Jeff Ringenberg. Dr. Rajesh Kumar Sharma. The Rising Cost of Consumer Attention: Why You Should Care. IMPACT OF INFORMATION TECHNOLOGY ON HUMAN RESOURCE DEVELOPMENT. PhD. Aner Tal. Teixeira. Kunal Bhattacharya. Thales S. and What You Can Do about It. 4. Dr. Kunal Bhattacharya. Sandeep Bhanot. Zakir Durumeric. Alex Halderman. A STUDY OF THE LUXURY BRAND MARKET WITH RESPECT TO SUITS AND WATCHES 7. Shakti International Journal of Management & Research & Development (A referred Journal) Vol-1 Issue-1 March 2013. Research Article / Survey Paper / Case Study “International Journal of Advance Research in Computer Science and Management Studies “Volume 3. PhD. Watch What You EatAction-Related Television Content Increases Food Intake 5. 2011. Outsmarting Proctors with Smartwatches: A Case Study on Wearable Computing Security. Avadhoot Pol The Changing Demographic Profile of the Middle Class Indian Consumer in a Developing Market and its Manifestations on Buying Behaviour for Wrist Watches – An Analytical Study. Alex Migicovsky. Issue 6. Dr. Scott Zuckerman. 4 . 6. MD and Brian Wansink. Josephine Lourdes De Rose . Shikha Jain and Prof.

spss.myaccountingcourse.php?p=statistics http://www.investopedia.BIBILIOGRAPHY http://www.asp 5 .com/financial-ratios/ http://www.in/products.co.com/university/ratio-analysis/using-ratios.