TO STUDY THE CONSUMER BUYING BEHAVIOUR

TOWARDS INDIAN AND FOREIGN BRANDED

WATCHES
 TABLE OF CONTENTS

S. No. Contents Page No.

CHAPTER - 1
INTRODUCTION
 Consumer Buying Behaviour
1.1 Definition of Watch
1.2 History of Watches
1.3 Definition of Brands
1.4 The emergence of brands
1.5 What is Branding
1.6 Characteristics of a good brand name
1.7 Some famous brands of watches
1.8 Need of the study
CHAPTER - 2
REVIEW OF LITERATURE
2.1 Definition of Review of Literature
2.2 Literature review must dos
2.3 Reviews
CHAPTER - 3
OBJECTIVES OF THE STUDY
3.1 Definition of objectives
3.2 Types of objectives
3.3 Rules for well written project objectives
3.4 Objectives of the study
CHAPTER - 4
RESEARCH METHODOLOGY
4.1 Definition and process of research methodology
4.2 Nature of research
4.3 Data collection
4.4 Population / Universe
4.5 Sampling plan
4.6 Statistical tools
4.7 Limitations of the study
CHAPTER - 5
DATA ANALYSIS & INTERPRETATION
5.1 Analysing the awareness about various Indian brands of watches available
5.2 Analysing the awareness about various foreign brands of watches available
5.3 Analysing type of watch preferred
5.4 Analysing the frequency of purchase of Indian branded watches
5.5 Analysing the frequency of purchase of foreign branded watches
5.6 Analysing the purpose of purchasing a watch
5.7 Analysing whether details are asked before buying a watch
5.8 Analysing the confidence in buying a watch alone
5.9 Analysing the demand for certification / warranty
5.10 Analysing the type of watch preferred for gifting purpose
5.11 Analysing the attributes considered while purchasing a watch
5.12 Analysing whose decision is mainly dominated while buying a watch
5.13 Analysing the behaviour to change the watch if some one else has same watch
CHAPTER - 6
RESULTS & FINDINGS
CHAPTER - 7
BIBLIOGRAPHY
CHAPTER - 8
APPENDIX (Questionnaire)
 CHAPTER - 1

INTRODUCTION
 TITLE

STUDY OF CONSUMER PURCHASE BEHAVIOUR TOWARDS

INDIAN & FOREIGN BRANDED WRIST WATCHES

INTRODUCTION TO THE PROJECT

1.1 WATCH

A watch is defined as a spring driven timekeeper, small enough to carry on a person.

Generally, this group would contain early watches worn on a chain around the neck,
pocket watches, and then wristwatches.
 1.2 HISTORY OF WATCHES

Time is considered one of our most valuable assets.

Evolution of Watch

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

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

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

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

With respect to mechanical improvements, the main milestone of watch evolution can
be stated as:

 Prior to 1600 – The Earliest Watches

 1600-1675 – The Age of Decoration.
 1675-1700 – The Balance Spring.
 1700-1775 – Steady Progress
  1775-1830 – The First Chronometers
 1830-1900 - The Era of Complications
 1900 on – Metallurgy to the Rescue

Prior to 1600: The Earliest Watches

1485: Leonardo da Vinci sketches a fusee for a clock.

1500s: Germany: Peter Henlein creates the first pocket watch.

1600-1675: The Age of Decoration

Early 1600s: Form watches becoming popular. Cases are shaped like animals and
objects. Religious themes are popular.

1635: Around this time that the fusee was adapted from clocks to watches.

1659 - 1675: Christian Huygens invents the "Remontoire".

1675-1700: The Balance Spring

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

1700-1775: Steady Progress

1704: Peter and Jacob Debaufre, Nicolas Facio, are the first to use rubies in watch
movements.
1750: Watch makers began using enamel on watch dials.

1759: Thomas Mudge invents the English lever escapement.

1775: Abraham Louis Breguet sets up his own watch making shop in Paris, France.

1775-1830: The First Chronometers

1780: Abraham Louis Perrelet invents the self winding movement.

1786: Breguet is the first to use guilloche on watch dials.

1791: J.F. Bautte founded the watch company that would eventually become Girard-
Perregaux.

1807: Thomas Young invents the recording chronograph.

1809: Luther Goddard of Shrewsbury, Massachusetts is the first watch manufacturer

in America.

1830: Thomas Prest registers a patent for the self winding watch.

1830-1900: The Era of Complications

1833: Antoine LeCoultre starts his own watch making business which later becomes
Jaeger-LeCoultre.

1837: First Tiffany store opens.

1843: Adrien Philippe develops a watch with winding and setting through the crown.

1844: The start, stop, and reset chronograph is invented by Adolph Nicole.

1844: Antoine LeCoultre invents the million metres.

1848: Louis Brandt opens his own workshop in La Chaux-de-Fonds which eventually
became the Omega Watch Company.

1853: Tissot makes the first dual time zone watch.

1858: Minerva is founded.

1860: Heuer is founded.

1865: Zenith founded.

1881: Movado founded.

1884: Greenwich, England is officially named the zero meridians and used as the
world wide recognized basis of time zones.

1886: Geneva Seal established.

1894: Universal Geneva established.

1900 Onwards – Metallurgy to the Rescue

1905: Hans Wilsdorf starts the Rolex Watch Company.

1914: Eterna introduces the first wristwatch with an alarm.

1918: Japan: Shakosha Watch Company opened. This would become Citizen in 1931.

1923: John Harwood is the first to mass produce a self winding wristwatch.

1924: Tokyo: Seiko brand name is launched by Kinttaro Hattori.

1926: Rolex introduces the first waterproof case called the "Oyster".

1929: First anti magnetic watch created by Tissot.

1933: Ingersoll introduces the "Mickey Mouse" watch.

1956: Rolex introduces their first model that displays the day and date.

1957: Hamilton introduces the world's first battery driven watch.

1962: Rado produces the world's first scratch proof watch called the "Diastar 1".

1962: ETA of Switzerland develops the first quartz battery operated watch.

1970: Hamilton releases the "Pulsar", the first electronic digital watch.

1972: Longines and Seiko introduce the LCD, (Liquid Crystal Display).

1980: Hublot founded.

1983: SMH of Switzerland launches the Swatch brand.

1985: Swiss Heuer Company merges with TAG to form TAG Heuer.

1986: Audemars Piguet introduces the first self winding tour billon.

1991: Franck Muller founded.

1999: Casio innovates with the first wristwatch with a built-in Global Positioning
System (GPS).

1.3 BRANDS

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

In the field of marketing, brands originated in the nineteenth century with the advent
of packaged goods. The first registered brand was the red triangle registered by Bass
beer, as the British were the first to introduce a law for trade mark registration.

Industrialization moved the production of household items, such as soap, from local
communities to centralized factories. When shipping their items, the factories would
brand their logotype insignia on the shipping barrels. These factories, generating
mass-produced goods, needed to sell their products to a wider range of customers, to a
customer base familiar only with local goods, and it turned out that a generic package
of soap had difficulty competing with familiar, local products.

The fortunes of many of that era's brands, such as Uncle Ben's rice and Kellogg's
breakfast cereal, illustrate the problem. The packaged goods manufacturers needed to
convince buyers that they could trust in the non-local, factory product. Campbell
soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats, were the first
American products to be branded to increase the customer's familiarity with the
products.

Around 1900, James Walter Thompson published a house advert explaining

trademark advertising, in an early commercial description of what now is known as
'branding'. Soon, companies adopted slogans, mascots, and jingles that were heard on
radio and seen in early television. By the 1940s, Mildred Pierce manufacturers
recognized how customers were developing relationships with their brands in the
social, psychological, and anthropological senses. From that, manufacturers quickly
learned to associate other kinds of brand values, such as youthfulness, fun, and
luxury, with their products. Thus began the practice of 'branding', wherein the
customer buys the brand rather than the product.
 1.5 WHAT IS BRANDING?

Branding is the foundation of marketing and is inseparable from business strategy. It

is therefore more than putting a label on a fancy product. Nowadays, a corporation,
law firm, country, university, museum, hospital, celebrity, and even you in your
career can be considered as a brand.

As branding is deeply anchored in psycho-sociology, it takes into account both

tangible and intangible attributes, e.g., functional and emotional benefits. Therefore,
those attributes compose the beliefs that the brand's audience recalls when they think
about the brand in its context.

The value of a brand resides, for the audience, in the promise that the product or
service will deliver. Clearly, a brand can recall memories of a bad experience. The
value for the audience then would be to avoid purchasing that brand.

From the perspective of the brand's owner, the value of the brand often lies in the
security of higher future earnings, but may also be assessed in terms of votes for a
politician, career for an executive, foreign direct investment (FDI) for a country, etc.

In conclusion, branding is the blend of art and science that manages associations
between a brand and memories in the mind of the brand's audience. It involves
focusing resources on selected tangible and intangible attributes to differentiate the
brand in an attractive, meaningful and compelling way for the targeted audience.
 1.6 CHARACTERISTICS OF A GOOD BRAND NAME

# Short, sweet and easily pronounced

The ideal name for customers to remember, and for you to use to cut through the
industry noise, is probably short and sweet and easily pronounced. This means it will
have two or three syllables (or even one), and it will work on the phone or internet
even if people have never seen or heard it before. If they have to be told how to spell
it once, that is OK (and may even help with recall). But if they have to be told a
second time, that is a problem. One of the sticky consonants (k, q, x, z) can help with
recall.

 # Unique with in its industry

Your name doesn't need to be weird or clunky, but it does need to not sound like all
the rest of your direct competitors. HotJobs.com, BAJobs.com, Careers.com,
CareerJunction.com, LocalJobs.com are all easily lost in the crowd. But Monster.com
stands out dramatically - even though it does not describe what they do! In practice, it
has become brand shorthand for job searches, just like Starbucks has become
shorthand for coffee.

# Legally available and defensive

Your lawyers think this should be item one of course. Regardless, what is the point of
starting any company or marketing campaign if you cannot have full rights in the
name? Your best defence is always a magic ® - which only can be issued by the
USPTO (or equivalent agency in other countries). If the USPTO won't issue a
registration certificate because they judge it to be generic, then you have problem (2)
above anyway. Common law trademark searches are also critically important.

 # Good alliteration, especially if a longer name

Sometimes a longer name does have a place in marketing. After all, the most famous
brand in the world, Coca Cola, is four syllables. But notice how smoothly it rolls off
the tongue. Linguists will tell you it has good alliteration.
 # Does not lend itself to abbreviations

If you have a long descriptive name, people will abbreviate it quickly. OK, we know
it worked for IBM, AT&T, CBS etc., but how many years and how many branding
dollars do you have? For a small company, this means you quickly become YASI
(Yet another Set of Initials) and drown in the initial bit bucket. At least make sure the
trademark part (brand part) of your trade name is a name and not initials. E.g. Ford is
the trademark for Ford Motor Car Company. Leave FMCC etc. to the legal documents
only. But who or what are AMA, CCI, etc.?

 # Flexible and expandable

Too many people try to describe their company rather than name it. Copyland, Copy
data, Copy shop, Quick Copy all define what they do - and are barely distinguishable
from one another. But Kinkos stands out dramatically and did not pigeonhole them
into only copy services. Today, of course, they are FedEx Kinkos, and can offer a raft
of services without needing to update their name, unlike Texas Instruments that
doesn't even make instruments.

# Linguistically clean

What are the root origins of the name? How is it pronounced by a Spanish, Italian,
Japanese, Portuguese or French native speaker? What does it mean in these
languages? You need to support these languages just to do business in North America
nowadays, especially in the populous areas of California, New York, Texas, Illinois,
Florida and Canada.

 # Will not age quickly

Is your name hip and topical? If you are in the fashion trend business this might be
fine. But otherwise, be very careful of "in" words or expressions. They will be
superseded sooner or later. They may also not play well across all demographics.
Many markets have their own "industry-speak" and slang. The worst of these are in
"geekdom"! Names with classical roots tend to endure more easily.
 # Embraces company personality

Two competitors, entering the same market at the same time with directly competing
products, will pick different names because every company and management team has
its own personality. This means the executives must be involved in the decision
making process. Your agency can tell you if the name fits, not if you are comfortable
with it.

 # Fits with in company’s brand portfolio

The company name, division names and product names are all part of your brand
portfolio. Do these sounds like they all come from the same family? While this is a
specific problem with merged companies, everyone's naming architecture needs to be
properly managed to maximize your brand power and intellectual property portfolio.

1.7 SOME FAMOUS BRANDS OF WATCHES

There are some big brands of wrist watches that are worth mentioning. They are:

Titan, HMT, Maxima, Timex, Rado, TAG Heuer, Omega, Cartier, Rolex, Mont
Blanc, etc.

TITAN

Titan, a name that is synonymous with watches today. The company was established
in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial
Development Corporation. Titan was launched at a time when cheap watches were
flooding the Indian market. It has grown to become the largest watch manufacturer in
India and the sixth largest in the world. The company manufactures more than nine
million watches every year, has a customer base of over 80 million, and accounts for
60 per cent of India's organised watch market.

A Titan pretty much stands for reliability, durability and to a great extant style. The
brand is not focused on a single segment either. Titan has launched its Titan Ultra
Slim which is virtually invisible. With an incredibly slim movement of 1.15 mm, the
Titan Ultra Slim is the slimmest watch in the universe, a mere
3.6 mm. and now Titan has launched its brand new watch Octane.

HMT

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

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

TIMEX

The Timex Corporation is a privately owned company headquartered in Middlebury,

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

RADO

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

TAG Heuer watches are recognizable for its authentic style – a unique combination
for performance, elegance and sportsmanship. Conventional and avant – grade
materials are used with intelligence to create simple yet distinctive lines of TAG
Heuer watches. TAG Heuer watches are also known for their firmly modern design.

The list can go endless. From spilt-second chronographs to moon phase calendars,
musical chimes to minute repeaters, ultra slim cases to stylish power- reserve
indicators, there’s virtually no end to the complexities watchmakers can crowd onto a
dial.

The expensive watches are seen to be worn by prestigious people and nowadays it is
also found common in some rich and upper middle class families. There can be an
array to the list of expensive watches.
 1.8 NEED OF THE STUDY

Branded watches as fashion accessory is still in small portion, but is growing at a

tremendous pace. The project has been undertaken to study the consumer buying
behaviour towards Indian and Foreign branded watches and what all factors do they
consider while purchasing watches.
 CHAPTER - 2

REVIEW OF LITERATURE
 REVIEW OF LITRATURE

2.1 DEFINITION: - A literature review is an account of what has been published on

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

2.2 LITERATURE REVIEW MUST DO THESE THINGS

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

2.3 REVIEWS

Bearden and Etzel (1990) shed light on the ability of reference groups to affect the
importance of the brand image among types of goods. In their study, goods were
divided into luxuries and necessities and social group influences were hypothesized to
affect brand decision through the locus of where a product was used – in private or
public. Private goods are items such as mattresses that are not viewed by others and
are, thus, less susceptible to social influence; where public goods such as televisions
may be very susceptible to social influences. Consequently, brands are more
important for public goods than private goods.
Shergil and Kaur (1998) found that buying behaviour of customers is focused to vary
according to socio – economic background. Though price is the main consideration
for most of the customers, the higher income group respondents are found to be more
quality conscious. Moreover, loyalty to a particular brand plays a major role in brand
switching.

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

Srivastava and Sengupta (2004) conducted a survey of 200 consumers “A peep into
mindset of consumers: - A study on men’s personal products” and found that:-

 Habit is the most important factor to influence purchase decision of customers.

 Only social groups had some effect over purchase decision. Advertisements
didn’t much effect in this respect.

 Influence of cheap price as well as sales promotion technique is not much

significant.

Verma (2005) in her survey “Brand preferences of selected Skin Care brands:- A case
study of Ludhiana city” made the following conclusions:-
  As regards awareness level of different brands of skin care products,
maximum number of respondents is aware of Lakme brand, followed by
Oriflame, Revlon, L’Oreal, and least are aware of Aviance.
 As regards consistency and change in brand of skin care products is
concerned, 54%

 Respondents said they are consistent with brand they use, mainly because they
are habitual with brand and they get value out of brand they use, while 46%
said they like to change brands.

 Regarding source of information of skin care products is concerned, television

was found to be main source of information.

 Regarding influence of respondents, majority said they were influenced by

peers and friends.

 Regarding attributes considered while purchasing skin care products,

maximum importance was given to price and quality. Ingredients and brand
are also important to them. Packaging was the least important attribute.

Chauhan (2008) found that in today’s era of cut-throat competition, differentiating

brands on the basis of certain Unique selling proposition (USP) cannot suffice; rather,
building a long term relationship with the customers by involving them with the
brands is more important.

Ganapathy (2008) in his article stated that the customer’s choice is unpredictable at
the time of the rejuvenation of the brand. Any change in the brand image might or
might not be welcomed by the customer. The risk of the consumer not accepting the
radical change is quite but when the customer welcomes it, sales are boosted.
Malapur (2008) in her article stated that when a customer is exposed to a particular
brand for a long period of time the brand identity becomes monotonous and
predictable. If strategist can come up with new ideas that the consumer will not
expect, the vigor and the youth of the brand is maintained. For example Titan had
introduced a brand called ‘Fastrack’ that was targeted at the youth and has a trendy
look the look of every fastrack watch is very different from the other Titan watches.
Thus, when a new model is introduced different from the existing models under the
brand the customer gets a relief from the monotony of the existing brand image.

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

Vinitha (2008) in her study concluded that a customer who is a brand loyal will
purchase the same brand over an over again and will also convey a good image about
the company. The true brand loyal is willing to buy the brand at what ever cost it is
available.
 CHAPTER- 3

OBJECTIVES OF THE
STUDY
 OBJECTIVES

3.1 DEFINITION: - Objectives are specific, measurable, short-term, and observable.

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

3.2 TYPES OF OBJECTIVES

• Cognitive: understandings, awareness, insights (e.g., "List and explain..."). This

includes information recall, conceptual understanding, and problem-solving.

• Psychomotor: special skills (e.g., "dissect a frog so that the following organs are
clearly displayed..."; "take a replicable blood pressure reading by appropriately
using a sphygmomanometer").

• Affective: attitudes, appreciations, relationships.

3.3 THE RULES FOR WELL WRITTEN PROJECT OBJECTIVE

 Use "to" + action verb + single quantifiable result + measurement indicator +
time frame.

 Objectives are brief statements that define exactly what you wish to
accomplish.

 Objectives clearly state a single purpose. Use as many objectives as you need.

 Make objectives quantifiable when possible by using such indicators as

quantities produced, frequency and accuracy.

 Incorporate cost, time, and technical specifications in the objectives.

 Concentrate only on end products, not benefits or evaluations.

 Writing specific and measurable project objectives is critical to your task

definition and planning.

3.4 OBJECTIVES OF THE STUDY

 To study consumer’s preferences towards Foreign and Indian branded

watches.
 To determine the factors influencing choice of consumers towards wrist
watches.
 To study consumer purchase behaviour towards branded wrist watches.
 CHAPTER - 4

RESEARCH
METHODOLOGY
 RESEARCH METHODOLGY

4.1 DEFINITION: - The research methodology explains the methods followed in

carrying out the research, methods of collecting information, population, research
instruments used as well as the limitations of the present study. It is the way of
systematically solve the research problem. The main process of research methodology
is given below:

To define the research problems and objectives

Review concept and theories

Research design including sample design

Collection of data survey

 Analysis of data

Interpretation and report writing

4.2 NATURE OF RESEARCH / RESEARCH DESIGN

A research design specifies the methods & procedures for conducting a particular
study. This is an Exploratory Research.

4.3 DATA COLLECTION

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

4.4 POPULATION / UNIVERSE

Keeping in view the time and resources constraints the population was restricted in
following areas:

 All the adults who are residents of Ludhiana with age group 15-30 years
4.5 SAMPLING PLAN

Sample unit – an adult who is a resident of Ludhiana.

Sample size – consisted of 100 respondents.

Sample technique – convenience sampling is used to collect the sample.

4.6 STATISTICAL TOOLS

Data Analysis & Interpretation – Classification & tabulation transforms the raw data
collected through questionnaire in to useful information by organizing and compiling
the bits of data contained in each questionnaire i.e., observation and responses are
converted in to understandable and orderly statistics are used to organise and analyse
the data:

 Simple tabulation of data using tally marks.

 Calculating the percentage of the responses.

 Formula used = (name of responses / total responses) * 100

 Graphical analysis by means of pie charts, bar graphs etc.

4.7 LIMITATIONS OF THE STUDY

 The size of sample is restricted to 100 respondents only.

 The results of the study are based upon the survey of the people living in
Ludhiana.

 A general limitation of study relates to inadequacy and incompleteness of

secondary data about the wrist watch market.

 Some of the respondents were not willing to give information, so some of the
data may be biased.

CHAPTER - 5

DATA ANALYSIS
 &

INTERPRETATION

DATA ANALYSIS & INTERPRETATION

5.1 Analysing the awareness about various Indian brands of watches available.

Awareness about Indian brands No. of respondents

Yes 91

No 9
 awareness about Indian brands

no, 9

yes, 91

yes no

ANALYSIS

The above table and chart shows that out of 100 respondents 91 are aware of different
Indian brands of watches available whereas 9% are unaware.

INTERPRETATION

It can be interpreted that most of the people are aware of Indian brands of watches
available in the market.

5.2 Analysing the awareness about various foreign brands of watches available in
the market.

Awareness about foreign brands No. pf respondents

Yes 80

No 20
 awareness about foreign brands

80

60
no. of
40
respondents
20

0
Yes No

No. pf respondents

ANALYSIS

The above table and chart shows that out of 100 respondents 80 are aware of different
foreign brands of watches available in the market whereas 20 are unaware.

INTERPRETATION

It can be interpreted that most of the people are aware of foreign brands of watches
available in the market.

5.3 Analysing type of watch preferred.

Watch preferences No. of respondents

Indian branded watch 27

Foreign branded watch 22

Both 51
 w atch preference

Indian
branded
w atch, 27

Both, 51

Foreign
branded
w atch, 22

Indian branded w atch Foreign branded w atch Both

ANALYSIS

The above table and figure shows that out of 100 respondents, 27 prefer to buy Indian
branded watches, 22 prefer to buy foreign branded watches, and rest 51 prefer to buy
both type of watches.

INTERPRETATION

It can be interpreted that most of the people prefer to buy both Indian branded
watches as well as foreign branded watches instead of any one type.

5.4 Analysing the frequency of purchase of Indian branded watches.

Frequency No. of respondents

 Once in a year 68

Twice in a year 15

More than twice in a year 17

frequency to purchase Indian branded watches

More than
twice in a
year, 17

Twice in a
year, 15

Once in a
year, 68

Once in a year Twice in a year More than twice in a year

ANALYSIS

The above table and figure shows that out of 100 respondents 68 respondents like to
buy Indian branded watches once in a year followed buy 15 respondents who like to
buy Indian branded watches twice in a year and 17 respondents like to buy Indian
branded watches more than twice a year.

INTERPRETATION

It can be interpreted that most of the people like to buy Indian branded watches once
in a year.

5.6 Analysing the purpose of purchasing a watch

 Usage of watches No. of respondents

Regular wear 55

Occasional wear 19

To gift someone 10

All above 16

usage of watches

60 55
no. of respondents

50
40
30
19
20 16
10
10
0
Occasional To gift
Regular wear All above
wear someone
Series1 55 19 10 16
usage

ANALYSIS

The above table and figure shows that out of 100 respondents, 55 like to purchase
watch for regular wear, 19 like to purchase watch for occasional wear, 10 like to
purchase watch to gift someone and rest 16 respondents like to purchase watch for all
the above.

INTERPRETATION
It can be interpreted that most of the people like to buy a watch for regular wear.

5.7 Analysing whether details are asked before buying a watch.

Options No. of respondents

Always 53

Sometimes 28

Never 19

frequency to ask for details

53
60
50
40 28
no. of
30 19
respondents
20
10
0
Always Sometimes Never

ANALYSIS

The above table and figure shows that out of 100 respondents, 53 respondents always
ask for details before buying a watch followed buy 28 respondents who sometimes
ask for details and 19 respondents never ask for details before buying a watch.

INTERPRETATION
It can be interpreted that most of the people ask for details of the watch before buying
it.

5.8 Analysing the confidence in buying a watch alone.

Option No. of respondents

Yes 70

No 30

No 30
options

Yes 70

0 20 40 60 80
no. of respondents

ANALYSIS

The above table and figure shows that out of 100 respondents, 70 respondents feel
confident while buying a watch alone whereas 30 respondents do not feel confident
while buying a watch alone.
 INTERPRETATION

It can be interpreted that most of the people feel confident while purchasing a watch
alone.

5.9 Analysing the demand for Certification / Warranty

Options No. of respondents

Yes 84

No 16

No, 16
No
options

Yes, 84
Yes

0 20 40 60 80 100
no.of respondents

ANALYSIS
The above table and figure shows that out of 100 respondents, 84 respondents ask for
certification / warranty while buying a watch whereas 16 respondents do not ask for
any certification / warranty while purchasing a watch.

INTERPRETATION

It can be interpreted that most of the people ask for certification / warranty while
buying a watch.

5.10 Analysing the type of watch preferred for gifting purpose.

Gifting purpose No. pf respondents

Indian branded watches 55

Foreign branded watches 45

for gifting purpose

55
45

60
50
40
no. of
30
respondents
20
10
0
Indian Brand Forign Brand
preference of brand
 ANALYSIS

The above table and figure shows that out of 100 respondents, 55 respondents like to
buy Indian branded watch for gifting purpose whereas rest 45 respondents like to buy
foreign branded watches for gifting purpose.

INTERPRETATION

It can be interpreted that more number of people like to buy Indian branded watches
for gifting purpose as compare to foreign branded watches.

5.11 Analysis the attributes considered while purchasing a watch

Attributes Rank

Price 1

Certification / Warranty 4

Design / Fashion 2

Discount 5

After sale service 6

Celebrity Endorsement 8

Return / Exchange policy 7

Brand Image 3
 Brand Im age 3

Return / Exchange policy 7

Celebrity Endorsement 8
attributes
After sale service 6

Discount 5

Design / Fashion 2

Certification / Warranty 4

Price 1

rank

ANALYSIS

The above table and figure shows that out of 100 respondents, most of the
respondents have ranked price as their first priority followed by design, brand, and
warranty.

INTERPRETATION

It can be interpreted that most of the people consider price as a prime factor while
purchasing a watch and then after design, brand image and so on.

5.12 Analysing whose decision is mainly dominated while purchasing a watch.

Decision influenced by No. of respondents

Self 68

Parents 11

Spouse (if married) 2

Collective 19
 68

11 19

2
self No. of respondents
parents
spouse
collective
influenc
Decisio

ed by
n

ANALYSIS

The above table and figure shows that out of 100 respondents, 68 respondents prefer
to take their own decision while purchasing a watch, 11 prefer to take their parents’
decision, 2 like to take their spouse’s decision, and 19 like to take collective decision
while purchasing a watch.

INTERPRETATION

It can be interpreted that most of the people prefer to take their own decision while
buying a watch and least prefer to take their spouse’s decision to buy a watch.

5.13 Analysing the behaviour to change the watch if one come to know that his /
her friend / relative has same watch.

Like to change No. of respondents

Yes 27
 No 73

YES NO
prefer to change

YES, 27

NO, 73
1

0 20 40 60 80 100 120
no. of respondents

ANALYSIS

The above table and figure shows that out of 100 respondents, 73 respondents would
not change their watch after coming to know that their friend / relative has same
watch whereas rest 27 would like to change.

INTERPRETATION

It can be interpreted that most of the people would not like to change their watch if
they come to know that their friend / relative have same watch.
 CHAPTER – 6

RESULTS & FINDINGS

RESULTS AND FINDINGS

 Most of the people are aware of different Indian brands of watches available in
the market.
 Most of the people are aware of different foreign brands of watches available
in the market.
 Most of the people prefer to buy both Indian as well as foreign branded
watches.

 Most of the people prefer to buy Indian branded watches once in a year.

 Most of the people prefer to buy foreign branded watches once in a year.

 Most of the people prefer to buy a watch for regular wear.

 Most of the people ask for details of the watch before buying it.

 Most of the people feel confident while purchasing a watch alone.

 Most of the people ask for certification / warranty for purchasing a watch.

 Most of the people like to give Indian branded watch for gifting purpose.

 Most of the people consider their own decision while purchasing a watch.

 Most of the people would not like to change their watch if they come to know
that their friend / relative have same watch.
 CHAPTER – 7

BIBLIOGRAPHY
 BIBLIOGRAPHY

Beraden William O. and Michael J. Etzel, “Reference Group Influence on Product

and Brand Purchase Decisions”, Journal of Consumer Research, Vol. 3, Issue 1, 9 th
August, 1990, Pg (30-38).

Chauhan Preeti, “Sensory Branding (Building brands beyond USPs)”, Advertising

Express, March, 2008, Pg (33-37).

Ganapathy V, “Ageing Brand”, Advertising Express, April, 2008, Pg (27-30)

Jacob J. Olsen, “Price, brand name and product composition characteristics as

determinants of perceived quality”, Journal of Applied Psychology, Vol. 9, Issue 3,
27th November, 2003, Pg ( 135-142).

Malapur Rashmi, “Rejuvenation of Brand”, Advertising Express, April, 2008, Pg (9-

11)

Pandey Rakesh R, “Branding in Retail”, Advertising Express, March, 2008, Pg (9-17)

Shergill G.S and Kaur T, “Consumer Behaviour in regard to detergents and Washing
soaps”, Management and Labour Studies, 15th March, 1998, Pg (165-172).

Srivastava Ashish and Sengupta A, “A peep into mindset of consumers: - A study on

men’s personal products”, Indian journal of marketing, Vol. XXIV, June, 2004, Pg
(13-15).

Verma Pallavi, “Brand preference of selected Skin Care brands: - A case study in
Ludhiana city”, MBA Thesis, 2005, Punjab College of Technical Education,
Ludhiana.

Vinitha VU, “Building Brand Loyalty”, Advertising Express, April, 2008, Pg (11-14)

http://en.wikipedia.org/wiki/Brand

http://en.wikipedia.org/wiki/Rado_(watch)

http://en.wikipedia.org/wiki/TAG_Heuer
http://www.brandchannel.com/features_effect.asp?pf_id=183

http://www.brighternaming.com/Top 10 Naming Factors.html

http://www.clocksonly.com/watch_history.html

http://www.galawatches.com/Rado.aspx

http://www.indiangiftsportal.com/india-shopping/shoppers-hang-out/designer-luxury/
time-pieces/maxima-wrist-watches/

http://www.maximawatches.com/about_us.htm

http://www.paralumun.com/watchhistory.htm

http://www.secondtimeround.com/history.html

http://www.tata.com/titan/

http://www.timexindia.com/pair_home.asp

http://www.timexindia.com/timexwatches.asp

http://www.titanworld.com/titan/stores/watches/watcheshome.asp?CatalogId=titan

http://www.utoronto.ca/writing/litrev.html

http://www.webindia.com/hmti/watches_gallery.html

http://www.webindia.com/hmti/watches.htm
CHAPTER – 8

APPENDIX
 QUESTIONNAIRE

Dear Respondent,
I am carrying out a survey of Indian Branded watches & Foreign branded Watches for
my research project. Kindly fill in the questionnaire to assist me in my research work.

Q-1 Are you aware about various Indian Brands of watches available in the market?

YES NO

If yes, then mention any four brands you are aware of

________________________ , _______________________

________________________ , _______________________

Q-2 Are you aware about various Foreign Brands of watches available in the market?

YES NO

If yes, then mention any four brands you are aware of

________________________ , _______________________

________________________ , _______________________

Q-3 Which type of watches you prefer to buy?

a) Indian branded watches

b) Foreign branded watches

c) Both

Q- 4 What is your frequency of purchasing a watch (Frequency of purchasing)

a) Foreign brands

b) Indian Brands
 If foreign brand: then how often? ___________________________________

Q- 5 How often do you go out to buy a watch (FOREIGN BRAND)?

a) Once in a year

b) Twice a year

c) More than twice a year

Q- 6 For what purpose you prefer buying a watch?

a) Regular wear

b) Occasional wear

c) To gift someone

d) Any other please specify _____________________

Q- 7 Do you ask for details before buying a watch?

a) Always

b) Sometimes

c) Never

Q- 8 Do you feel confident while buying expensive watches all alone yourself?

YES NO

Q- 9 Do you ask for Certification/Warranty for the watch you purchase?

YES NO

Q- 10 For gifting purpose what would you prefer?

a) Indian branded watches only

b) Foreign branded watches only

c) Both

Q.11 What are your decision variable for buying a watch?

a) Design c) Brand
b) Price d) Promotional offers
Q- 12 Rank the following attributes which you consider while purchasing a watch.

Rank them as 1 to 8 ( 1 for most preferred & 8 for least preferred )

a) Price

b) Certification/Warranty

c) Designing/Finishing

d) Discount

e) After sale services

f) Celebrity endorsement

g) Return/Exchange policy

h) Brand Image

Q- 13 Your purchase intent is influenced by?

a) Self

b) Parents

c) Spouse (if married)

d) Collective

Q- 14 Would you like to change your watch if you come to know that one of your
Friend or relative has the same watch?

YES NO

Personal Details:

Name- _____________________ Age- ___________________

Marital Status- _____________________ Occupation- ___________________

Address- ______________________________________

Phone No. ______________________________________

THANK YOU FOR YOUR CO-OPERATION