Fairfield Institute of Management and Technology

MINOR PROJECT REPORT ON

Consumer preference before buying of wrist watch

Submitted in partial fulfilment of the requirements

For the award of the degree of

BACHELOR OF BUSINESS ADMINISTRATION

To

Guru Gobind Singh Indraprastha University, Delhi

Under The Guidance Of

SUBMITTED BY :
Anuskha SHARMA
BBA Sem-4
Shift-1
02917001722
 TABLEOFCONTENTS

StudentDeclaration ...................................................................... ii

Certificatefrom Guide ..................................................................iii

Acknowledgement .......................................................................iv

ExecutiveSummary ...................................................................... v

CHAPTER1 - INTRODUCTION ................................................................. 1

1.1 Rationale ......................................................................................................5

1.2 Purposeofthestudy ........................................................................................ 6

1.3 ResearchObjectivesof thestudy .................................................................... 6

CHAPTER– 2

Review Of literature ............................................................................................9

CHAPTER– 3

Research methodology ........................................................................................ 25

CHAPTER– 4

Data Analysis and Interpretation

CHAPTER – 5

Conclusion and Recommendations

Bibliography ........................................................................................................ 52

Annexure.............................................................................................................. 53

Miscellaneous
 SUMMARY
Customer is a significant stakeholder for a business. The
overall experience of a customer with the products(s) and
service(s) of a firm determines customer satisfaction,
which further determines the customer retention,
customer repurchase, revenue generation, profitability,
market share and also play an important role in its
sustainability. The firm’s efforts are now concentrated
themselves as customer centric and are therefore,
measuring the levels of customer satisfaction and trying
to find out the areas for improvement. This study is
focused, firstly, to identify the level of customer
satisfaction towards Wrist watch buyer, using
questionnaire method. Secondly, to identify the various
factors influencing customer satisfaction towards wrist
watch buyer and thirdly, to provide conclusions and
recommendations based on the analysis and
interpretation of the data collected.

The report begins with the introduction of the topic

where it explains the meaning of customer satisfaction
and also shares some vital facts about watch buyer
persons. It then shares the data analysis for several
questions of a survey which was responded by 100
people. At last it provides some useful recommendations
for the enterprise.
 CHAPTER 1
INTRODUCTION

MEANINGOFCUSTOMERSATISFACTION

Satisfactionisanoverall psychologicalstatethatreflectsthe

evaluationofarelationshipbetweenthe customerorconsumerandacompany,

environment,productor service.

Customer Satisfaction is the measure of how the needs and responses are collaborated

anddelivered to excel customer expectation. It is defined as "the number of customers,

orpercentage of total customers, whose reported experience with a firm, its products, or

itsservices (ratings) exceed specified satisfaction goals." It is seen as a key

performanceindicator within business and is often part of a balanced scorecard. In a

competitivemarketplace where businesses compete for customers, customer satisfaction

is seen as akey differentiator and increasingly has become a key element of business

strategy."Within organizations, customersatisfactionratingscan havepowerfuleffects.

Theyfocus employees on the importance of fulfilling customers‘ expectations.

Furthermore,whentheseratingsdip,theywarnofproblemsthat

canaffectsalesandprofitability.

These metrics quantify an important dynamic. When a brand has loyal customers, it

gainspositive word-of-mouth marketing, which is both free and highly effective."

Therefore, itis essential for businesses to effectively manage customer satisfaction. To be

able do this,firms need reliable and representative measures of satisfaction.

"In researchingsatisfaction, firms generally ask customers whether their product or service

has met orexceeded expectations. Thus, expectations are a key factor behind satisfaction.

Whencustomers have high expectations and the reality falls short, they will be

disappointedand will likely rate their experience as less than satisfying.

You can’t build a loyalcustomer following if you don’t know what your customers think

or feel about yourproducts/services.It’simportanttoeffectivelymeasurecustomersati

youcanmeetyour customer’sexpectations.Thesinglegreatestpredictorofsatisfactionis the

perceived quality of your products/services. This is measured by the customer’sperception

of the brand’s overall quality, perceived reliability, and the extent

yourcustomer’sneedarefulfilled.Othersatisfactionfactorsincludeyourcustomer’sbrand

loyalty,thesatisfactionofaspecificproduct

attribute,andthecustomer’slikelihoodtorepurchase.

ExpectationsandCustomerSatisfaction
Expectations are beliefs (likelihood or probability) that a product and/or
service(containingcertainattributes,featuresorcharacteristics)willproducecertainoutc
omes (benefits or values) given certain anticipated levels of performance
basedonpreviousaffective,cognitive,andbehaviouralexperiences.Expectationsareofte
nrelated tosatisfactionandcanbemeasuredasfollows:
1. Importance:Valueoftheproduct/servicefulfillingtheexpectation.

2. Overall Affect-Satisfaction Expectations:Like/dislike of

theproduct/service.

3. Fulfilment of Expectation:The expected level of performance

versusthedesiredexpectations.Thisis“predictivefulfilment”andisarespo
ndent-specificindexoftheperformancelevelnecessarytosatisfy.

4. Expected Value from Use:Satisfaction is often determined by

thefrequency of use. If a product/service is not used as often as
expected,the result may not be as satisfying as anticipated. For example,
amotorcycle that sits in the garage, an unused year subscription to
thelocal fitness centre, or a little-used season pass to a ski resort
wouldproduce more dissatisfaction with the decision to purchase, than
withtheactualproduct/service.
 IntroductionofWristWatch

A watch is a portable timepiece intended to be carried or worn by a person. A wristwatch

isdesignedtobewornaroundthewrist,attachedbyawatchstraporothertypeofbracelet,includingmetalb
ands, leather straps or any otherkind of bracelet.

Today, a wristwatch is considered as much of a status symbol as a device to tell time. In an

agewhen cell phones and digital pagers display tiny quartz clocks, the mechanical wristwatch
hasslowlybecome less of anobject of function andmoreapieceofmodern culture.

A wristwatch is designed to be worn on a wrist, attached by a strap or other type of bracelet.

Apocket watch is to be carried in a pocket. There are other variations. Nurses often wear a
watchattached to the front of their uniform. It hangs down from a short strap: when lifted by the
user itis right side up.

Watches evolved in the 17th century from spring-powered clocks, which appeared as early as
the14th century.In 1524,Peter created the first pocket watch. The firstwatches were
strictlymechanical,driven by clockwork.

As technology developed, mechanical watches were largely replaced by vibrating quartz

crystals,producing accurately timed electronic pulses. Some watches use radio technology to
correct thetimeand date. Thefirst digital electronicwatch was developed in 1970.

Electronic movements, also known as quartz movements, have few or no moving parts, except
aquartz crystal which is made to vibrate by the effect. A varying electric voltage is applied to
thecrystal, which responds by changing its shape so it works as an oscillator. It resonates at a
stablefrequency,whichpacesatimekeepingmechanism.Mostquartzmovementsareprimarilyelectron
ic but are geared to drive mechanical hands on the face of the watch to give a
traditionalanalogdisplay of thetime. Most consumers preferthis.
The established watch making community looked down on them as well. Because of their size,few
believed wristlets could be made to achieve any level of accuracy, nor could they
withstandthebasicrigorsofhumanactivity.Therefore,veryfewcompaniesproducedtheminquantity,w
iththe vast majority of those being small ladies models, with delicate fixed wire or chain-
linkbracelets.

WhileGermantroopsatthistimewerelargelyissuedthemoreprimitive―pocketwatch‖designs,Allied
troops had a wide range of new models to choose from. Many examples featured smallsilver pocket
watch cases fitted with leather straps and displayed porcelain dials protected by
theaforementionedshrapnel guards.

The success of the wristwatch was born out of necessity, and Rolex continued this tradition
byintroducingaseriesofProfessional,or―toolwatches‖intheearly1950s.Thesemodels,includingthe
Submariner, Explorer, GMT-Master, Turn-O-Graph, and were also designed out of
necessity,astheyincluded featuresand attributesthat wereessential foraspecifictask orprofession.

Thus, the role of the wristwatch seems to have come full circle. With the general public
nowleaningtowardhigh-
tech,digitalgadgets,theclassicmechanicalwristwatchhasonceagainfounditshomeon thewrists of
thosebravesoldierswhowelcomedit some100 yearsago.
 RATIONALEFORCHOOSINGTHISTOPIC

• WristWatchesareone of themostimportant devicesinthedaily livesofhumanbeings.Itis

required forkeepingthe trackof thetimeduring thedayor thenight
.
• The customer satisfaction data on the other hand provides a leading indication
aboutconsumer purchase intentions and loyalty. Customer satisfaction data are among the
mostfrequently collected indicators of market perceptions. Their principal used is
twofold."Within organizations, the collection, analysis and dissemination of these data
send amessage about the importance of tending to customers and ensuring that they have
apositiveexperiencewiththecompany‘sgoods and services."

• Although sales or market share can indicate how well a firm is performing
currently,satisfaction is perhaps the best indicator of how likely it is that the firm‘s
customers willmakefurther purchases in the future.

• The rationale behind combining such a topic with such an organization was to study
thefuture trends that how many people would ideally recommend this service to others
afterusingthis serviceforsuch along period of time.

• Watches Provide Simplicity The best watches don’t use the latest technology. They
arepoweredbyingeniousmechanicalclockworktechnologythatpredateselectricity.Sowheny
our cell phone runs out of battery – you can trust the technology that keeps running
onyourwrist.

• Itwouldbean importantpartofthisprojectreport which wouldbeundertaken

andfurtherit would beanalysed to arise at final outcomes.
 PURPOSEOFTHESTUDY

OBJECTIVES
• Tostudyandunderstand theconceptofcustomersatisfaction.

• Tostudy andknowmore abouttheorganization

• Toexaminethelevelofcustomersatisfaction towards

• Toidentifythefactorsinfluencingcustomersatisfactiontowards

• Tostudytheconcernsandproblemsfaced.

SCOPE
• Thisprojectreporthelpsmeknowmoreabouttheorganization.

• Thisprojectreportalsohelpsmeunderstandthetopicofcustomersatisfactionwithreferenceto
an enterprise.
 About wrist watch industry

Over the centuries watches have been used as a status symbol by those who wear them. The
precision, elegance, and convenience are just some of the attributes that a watch represents. Often,
they are bought purely for their aesthetic look and at other times, they are bought because of their
technical features, like being precise to the last second or even millisecond. This is what makes
watches such a desirable collectible primarily, secondarily in some cases, they can command high
sums of money.

This report provides an analysis and evaluation of the latest available data in the watch industry
globally. The report is structured into few sections. Firstly, there is an analysis of the global
industry and the market with statistic data, trends, and potential growth, sales in volume and value.
Following this part is the geographical overview of the market, detailing 16 countries, the trends,
and insights of the watch industry there. The last part that will conclude this research is a table on
more than 20 world-renown watch brands with a rundown on their economic state, figures on each
brand’s sales and revenues, price ranges for their timepieces and some information regarding a
brand’s main market, region-wise.

Structure of wrist watch industry

Study period – 2013-2020 Base year -- 2019

Fastest growing market – Asia pacific Largest market – North America CAGR -- 9.92%

Market turnover- USD 6.9 BILLION

ountry scope – USA, UK, CHINA, JAPAN, BRAZIL

MARKET OVERIEW

Global watch market is projected to grow at a CAGR of 9.92% during the forecast period.

The lower-priced and mid-priced watches are increasingly gaining market traction, due to increasing
demand for ‘value-for-product’ watches and accessories among women.
The demand for digital watches is stronger among young consumers, as they are more aware of
smartphone technology. Popular brands, like Casio and Timex, have launched their own product lines,
such as G-Shock and Command Watch collections.

Brands, like Casio and Timex, are continuously investing in R&D for product innovations to blend
some of the features of smartwatches with the long-lasting battery life of digital watches, while
offering the product in attractive design and affordable prices.

Company profile

Full name – wrist watch industries

Major companies – APPLE, ROLEX, RADO, ARMANI, GUCCI, TITAN

Geographical location – Multinational

Nature of business -- Profit motive

Size of the industries or market turnover – USD 6.9 BILLION

Companies --- listed on stock of exchange

Type of market --- oligopoly

 LARGEST BUYER OF WRIST WATCH COUNTRY

According to Statistic Brain globally, the largest buyers of watches were the consumers in Hong Kong,
USA, China, France, and Germany. The market share percentage of each country varies from 20.4%
(Hong Kong) to 5.6% (Germany).

The largest buyer of wrist watch is North America

North America and Europe Dominating the Watch Market

United States watch market is offering a wide range of choices for its consumers, which includes
cheaper watches from Hong Kong that are priced below USD 500. Depending on the number of apps
and features available, the entry-level smartwatches are priced at USD 120-200, while middle-range
watches are priced at USD 300-500. Brands like Apple have launched smartwatches at an entry price
of USD 350. This has made the product accessible to a larger segment of consumers. Moreover, the
British watchmaking industry is growing rapidly, with more players providing attractive watches with
a stainless-steel case, scratch-resistant sapphire glass, quick- change strap system, and water resistance
property.

Mission & Vision of wrist watch industry

Our vision is to globalize India as a market for watches and a leading source of manufactured
products for the watch and other precision-led businesses.

We are using India‘s well-developed technical expertise to create state-of-the-art factories,

offering top quality products while competing with the best in the world. As India becomes a
global manufacturing hub, we aim to play a leading role in the watch and precision engineering
business.

At the same time we envision India as a booming market for the world‘s best products. Swiss
watch companies already see India as the market with the greatest growth potential. Our vision is
to play a central role in the retail of Swiss watches and in the retail of a wide range of luxury
lifestyle products.

Vision and Mission Our Mission is to always strive to provide quality of the highest standards,
modern design and prompt response to our valued clients, at the very best price.
CUSTOMER SATISFACTION

Customer satisfaction is defined as a measurement that determines how happy customers are
with a company’s products, services, and capabilities. Customer satisfaction information,
including surveys and ratings, can help a company determine how to best improve or changes its
products and services. An organization’s main focus must be to satisfy its customers. This
applies to industrial firms, retail and wholesale businesses, government bodies, service
companies, non- profit organizations, and every subgroup within an organization.

The model for customer satisfaction is as follows:–

There are two important questions to ask when establishing customer satisfaction:

1. Who are the customers?

2. What does it take to satisfy them?

The answers to these questions are:

Customers are anyone to whom the organization supplies their products or services with. On the
other hand organizations should not assume they know what the customer wants. Instead, it is
important to understand the voice of the customer, using tools such as customer surveys, focus
groups, and polling. Using these tools, organizations can gain detailed insights as to what their
customers want and better tailor their services or products to meet or exceed customer
expectations.

WHY CUSTOMER SATISFACTION?

A Loyal customer is a treasure you should keep and hide from the world.

According to the White House Office of Consumer Affairs, on average, loyal customers are
worth up to 10 times as much as their first purchase. Some research says that it is 6-7 times more
expensive to acquire a new customer than it is to keep a current one. Banks or mobile providers
know it best, so they don’t have any problem with going the extra mile for a customer who is not
quite satisfied and often offer him something special. Not only it is more expensive but also
much more difficult to keep existing and loyal clients (let alone keeping them fully satisfied and
happy!) than to gain some new ones.

They can stop being your clients in a heartbeat.

Is not rocket science, nowadays clients easily switch their love brands. It is often caused by
terrible customer service. And gaining clients’ trust takes up to 12 positive experiences to make
up for one unresolved negative experience. Take care of each and every client’s need and you’ll
be rewarded with their gratitude and loyalty. Brands often take their audience for granted, and
they’ve never been so wrong – one decision, or lack of it, can result in losing a lot of clients and
their respect. That’s why measuring clients’ satisfaction is so important.

It’s (all) about the money, too.

It shouldn’t be surprising, but customer satisfaction is also reflected in revenue. Customers’

opinion and feelings about the brand can affect, in both positive and negative way, the essential
metrics – such as the number mentions and repeated transactions, and also customer lifetime
value or customer churn. Happy customers won’t look at one’s

Competitors offers – they will happily interact with your brand again, make a purchase and
recommend the product further. If you meet all of their requirements and answer their needs
while delivering the best quality of your services, they will be fully satisfied. Not to mention
your brand will increase sales revenue! Measuring customer satisfaction should become your

Daily habit – not something you do from time to time and only if you’re about to face crisis
management.

Customer satisfaction is a factor that helps you stand out of the competition.
Your competitive rivals are just waiting for you to make a wrong move. What is more, they can
often play the role of an instigator. Being prepared for their provocations is not enough if you
don’t know how to deal with the negative backlash. However, if you provide your customers
with amazing customer service, you will gain arguments to convince those uncertain of your
services.

Great customer experience can take your brand places.

The importance of customer satisfaction should never be neglected. You should consider it
especially while planning your marketing and positioning campaigns. Satisfied customers are
more likely to share your content across social media. They will also more keenly interact with
your posts, leaving some delightful and admirable comments. Later you can use it as the source
for case studies and success stories.

FACTORS AFFECTING CUSTOMER SATISFACTION

• Product Price

• Product Quality

• After sale service

• Product potential to satisfy a need/want

• Hassle free availability of the product

OTHER BENEFITS
 • Brand Buzz

• Brand Trust

• Reliability

PROCESS OF PERFORMING CUSTOME R SATISFACTION

• Outlining goals and plans.

• Creating customer surveys.

• Choose the right time to get data.

• Analyze the data.

• Making adjustments.

•
 CHAPTER – 2

REVIEW OF LITERATURE
In this competitive world, where all the companies have come out with varied
range of watches in order to capture the market, consumer has become an integral
part of them. Watches are among the most essential accessory of a human and
their cost differ with the features, style, brand name they are carrying with them.
The watch world has revolutionized so much that they have become a style
statement of a person. According to Industry Statistics of India, 50 million
wristwatches are sold in India every year. The valuation of the wrist watch market
in India is of Rs.1500 Crores as stated by Industry Statistics of India.

Among the segmentation of market it is taken as that the male have a market of
65% in wrist watch market whereas 35% is of females.…show more content…
Kunal Bhattacharya, University of Pune, India, Dr. Shikha Jain, University of
Pune, India, Prof. Avadhoot Pol, Sinhgad Institute of Business Administration and
Research (SIBAR) is already done and have produced some recommendations in
the concerned field of study.
• Brand-conscious, tech-savvy, old before their years and equipped with
generous incomes that are almost entirely discretionary, they are an
increasingly attractive segment for marketers of all kinds of products,
ranging from fashion and beauty to digital devices

• The watch market is accounted for by a host of local and international

brands, including cheap Chinese imports

• Today’s Managers must concentrate on current fashion trends (many often

unique to the country) as well as attitudes toward personal appearance,
health and wellness and beauty that influence patterns of consumer…show
more content…
 Here we can comment that,

• Most of the consumer consider brand name as the one of the main factor in
purchasing a premium wrist watch. The consumer has a liking for a
particular brand name and don’t prefer to purchase different branded wrist
watches.

• Most of the consumer are concerned about the satisfaction while wearing
premium wrist watches as they think that after spending high amount on
premium watches it should feel good while wearing them.

• Apart from the above mentioned 2 factors the consumer take care about the
price of the wrist watches. There are many consumers who are stringent on
spending too much for a particular liking of a wrist watch as they think that
spending more on watches is a waste of money.

• One of the major factor which drives all the purchasing of these premium
wrist watches is the salary of the consumers. There are many consumers who
are not ready to spend more than 25% of their monthly salary in buying a
premium wrist watch, however there are few consumers who are ready to
buy the selected wrist watch on EMI (Equated Monthly Instalments) option
which are these days very widely being provided by all the e-Commerce
companies in order to compete

After reviewing the literature on wearable computing, we Found that many studies
are from different disciplines. For The most recent studies from 2015 to 2018, we
summarized Thirteen ofthem which gives aComparison of studies according to
year, number of studies, Domain, and outcomes.
 •
WWDs have gained more popularity than other wearables They allow quick
access and are more suitable for many

Applications than other wearables. WWDs can be categorizedAs commercial

or ad hoc devices. Commercial devices have

Three types: smart watch, fitness tracker, and armband [50].Each of them has
many applications from gesture recogni-

Tion to authentication . The literature on WWDs can be categorized into

threestudiesTypes based on its goal: user interface and interaction studies,

User studies, and activity/affect recognition studies. Next, weWill explain each
category in detail.

User Interface and Interaction Studies. inThis category are aimed at

supporting the interaction of usersWith WWDs. They depend on a wrist-worn
interface,Either for input or output techniques.

There are two main challenges ahead for WWIs: theirPhysical limitations and
the contexts of their use. In order

To overcome these drawbacks, two novel wrist-worn iinteraction paradigms

were proposed by Motti and Caine in 2015

The first paradigm is the microinteractions that enableUsers to complete tasks

in less than four seconds and

Attempting to have many smaller tasks rather than one big Task to minimize
the cognition and attention required. Examples-

of these microinteractions are audio, gesture, graphics,Tactile, and vibratory

wrist-worn interfaces. The second
 CHAPTER 3
Research methodology

The present study is descriptive in nature.

Descriptive Research is the one where original
data is collected from the customers with the
help of their responses by means of the
questionnaire. There were two ways to collect
the data i.e., Primary data collection method and
Secondary data collection method: Primary data
was collected through questionnaires which
were shared through a Google form to 100
people. The questionnaires were carefully
designed by taking into account the parameters
of my study. Data collection from websites,
going through the records of the organizations ,
etc. i.e. the data which has been collected by
someone else for their research study was also
referred which is the Secondary data.
RESEARCH

Once the problem has been carefully defined,

the researcher needs to establish the plan that
will outline the Investigation to be carried out.
The research design indicates the steps that have been taken and in
what

Sequence they occurred. It is a systematic and purposive investigation of facts with an objective of

Understanding the consumer satisfaction for wrist watches. The methodology that will be applied by the
study

Has been chosen in order to acquire information and deduce conclusions about the “consumers’
behaviour
Towards wrist watches”.

RESEARCH DESIGN

Research design is the arrangement of conditions for collection and analyze of data in a systematic
manner that

Combine relevance to research purpose with an economy in procedure. The research study applied here
is purely Descriptive.

SAMPLING TECHNIQUE

The simple random sampling method was used for the primary data collection. Simple random sampling
is the

Basic technique where we select a group of subjects (a sample) for study from a larger group (a
population).

Each individual is chosen entirely by chance and each member of the population has an equal chance of
being

Included in the sample. Every possible sample of a given size has the same chance of selection; i.e. each

Member of the population is equally to be chosen stage in the sampling process. There are two types of
sampling Techniques.

They are probability sampling and non – probability sampling. The research adopted non–probability
sampling.
NON–PROBABILITY SAMPLING

Non–probability sampling procedure, which does not afford any basis for estimating the probability that
each

Item in the population has been included in the sample.

CONVENIENCE SAMPLING

The researcher has adopted convenience sampling method for this study.

SAMPLE SIZE

61 respondents are chosen as a sample size for the study.

DATA COLLECTION

Target audience: wrist watches consumers in Paavai Educational Institutions, Pachal, Namakkal.

Area of the study: Girls Hostel of Paavai Educational Institutions, Pachal, Namakkal.

PRIMARY DATA

Information obtained from the original source by research is called primary

data. They offer much greater

Accuracy and reliability. The data was collected from the respondents through
the questionnaire.

SECONDARY DATA

In means data that are already available i.e. it refers to the data which have
already been collected and analyzed

By someone else. The data was collected from the websites and journals.

SURVEY

The type of survey undertaken was that of sample type keeping in

consideration the time constraints besides the viability of census survey. The
sample survey undertaken to reach the desired destination was carefully
planned and executed by using selected samples.

STATISTICAL TOOL
The tool used for obtaining the relevant information was questionnaire. A well
structured questionnaire was administered to the sample of the study. The
questionnaire was designed keeping in view both major and minor objectives
of the study.

SAMPLING

With the customer being unknown and given the time and resource constraints
random sample was obtained from the population. The random sampling is a
type of sampling method where each individual unit has an equal probability
of being chosen. The no. of respondents under this survey was 100.

DATA COMPLETION AND ANALYSIS

After the data was collected, it was tabulated and findings of the project were
presented followed by analysis and interpretation to reach certain conclusions.

GRAPHS AND CHARTS

They are graphical representation of data gained to make the analyzing process
simple and to draw conclusions quickly.

FREQUENCY TABLE

It is the frequency of an option to be chosen by different people in the survey.

SIGNIFICANCE OF THE STUDY

The watch industry is in the current scenario is booming and undergoing a

rapid growth. The emergence of a New generation private and foreign watches
in the Indian watch market has raised the competitiveness in the

Industry. The study aims at identifying the extent to which the product quality
of a watch affects its
Competitiveness. The outcome of the study reveals the current perception
about the watches rooted in the minds

Of the consumers which could be useful in formulating the strategies in future

operations of the company, for the

Attainment of its goals in this competitive scenario.

LIMITATION OF STUDY

The following are the limitation of the study

61 respondents cannot represent the population as a whole. So, the findings

may be biased.

Time plays a havoc role in data collection. So, the sample is restricted to 61.

Chances of biased responses from the consumers.

CHAPTER – 4
DATA ANALYSIS
AND
INTERPRETATION
Q1– Doyouweara wrist watch

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
100% of the total people surveyed answered that they wear
thewristwatch.Andtherewas0%ofthetotalpeoplesurveyedansweredthattheytheydono
twearthewristwatch.
Q2- How oftendo you wearawristwatch?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
30% of the total people surveyed answered that they wear
thewatcheverydayandabout41%ofthetotalpeoplesurveyedansweredthattheywearthe
wrist watch most of the time, about 21% of the total people surveyed
answeredthattheywearthewristwatchsometimesandabout8%ofthetotalpeoplesurveye
dansweredthattheywear the wristwatchonlyonoccasions.
 Q3-Whichisyourpreferredtypeofwristwatchtowear?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthrough
thequestionnaire survey was analysed and interpreted using the
frequencytables,chartsandgraphs.About47%ofthetotalpeoplesurveyedansweredth
at they preferred digital watch to wear , About 38% of the total
peoplesurveyedansweredthattheypreferredautomaticwristwatchtowear,About12%
of the total people surveyed answered that they preferred quartz
wristwatchtowearandAbout3%ofthetotalpeoplesurveyedansweredthattheypreferre
dwindingwristwatchtowear.
Q4-Whichtypeofwatchareyoucurrentlyusing?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
34% of the total people surveyed answered that they are
usingchaintypeofwristwatchandAbout66%ofthetotalpeoplesurveyedansweredthatth
ey are usingstraptypeofwristwatch.
Q5-Howmuchareyouwilling to spendonawristwatch?

INTERPRETATION
The question was responded by 100 people. The data collected through the questionnaire
surveywas analysed and interpreted using the frequency tables, charts and graphs. About 9% of
the totalpeople surveyed answered that they are ready to spend rs1000 to rs5000 on wrist watch,
About29%ofthetotalpeoplesurveyedansweredthattheyarereadytospendrs5000tors10000onwristwa
tch and About 45% and About 17% of the total people surveyed answered that they are
readytospendrs10000tors25000andabovers25000respectively.surveyedansweredthattheyarereadyt
ospend rs10000 to rs25000 and abovers25000 respectively.
 Q6-ChooseyourTop 3 favourite brands fromthe following

INTERPRETATION
The question was responded by 100 people. The data collected through the questionnaire
surveywasanalysedandinterpretedusingthefrequencytables,chartsandgraphs.About41%ofthetotalp
eople surveyed answered that they that they liked Rolex watch out of their 3 preference , About42%
of the total people surveyed answered that they liked Apple watch as their favourite2 out of3 their
3 preference and About 44% of the total people surveyed answered that they liked
Armaniwristwatch as theirfavourite3 out oftheir 3 perference.
Q7-Please rate the following values with respect to your decision of buying anew
wrist watch on a scale of 1-3 where 1 is Important , 2 is Neutral and 3
isUnimportant

i COMFORT

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1-
3 means that on number 1 not sure , number 2 means they areagree , number 3 means
strongly agree. About 4% of the total people
surveyedansweredthattheynotsosureandAbout12%and84%ofthetotalpeoplesurveye
dansweredthatthey areagreeand stronglyagreewith their respectively.
ii STYLE

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1 -
3 means that on number 1 not sure , number 2 means they
areagree,number3meansstronglyagree.About4peoplearenotsurethattheyshouldhave
style in their wrist watch, about 29% and about 67% people are agree andstrongly
agree with their respectively that there should have style in their wristwatch.
iii PRICE

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnairesurve
ywasanalysedandinterpretedusingthefrequencytables,chartsandgraphs.Here1-
3meansthatonnumber1notsure,number2meanstheyareagree,number3meansstrongly
agree. About 11% of the total people surveyed answered that they are not surethat price
should be taken into consideration while buying wrist watch, about 16% and73% of the
total people surveyed answered that they are agree and strongly
agreerespectivelythatpriceshouldbetakeninto consideration
iv Life-stylE

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1-
3 means that on number 1 not sure , number 2 means they areagree , number 3 means
strongly agree. About 5% of the total people surveyedanswered that they are not sure
that life style should be taken into
consideration,about28%andabout67%ofthetotalpeoplesurveyedansweredthattheyar
eagreeand strongly agree respectively that life style should be taken into
considerationwhilebuyingthe wristwatch.
V QUALITY

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1-
3 means that on number 1 not sure , number 2 means they areagree , number 3 means
strongly agree. About 6% of the total people surveyedanswered that they Are not
sure that quality should not be taken into considerationwhile buying the wrist watch
and about 17% and about 77% of the total peoplesurveyed answered that they Are
agree and strongly agree that should be taken intoconsiderationwhilebuyingthe
wristwatch.
VI DURABILITY

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1-
3 means that on number 1 not sure , number 2 means they areagree , number 3 means
strongly agree. About 7% Of the total people surveyedanswered that they Are not
sure that durability should be taken into considerationwhile buying the wrist watch
and about 24% and about 69% Of the total
peoplesurveyedansweredthattheyareagreeandstronglyagreerespectivelyandtheysure
thatdurabilityshouldbetakenintoconsiderationwhilebuyingthewristwatch.
VII SIZE

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1-
3 means that on number 1 not sure , number 2 means they areagree , number 3 means
strongly agree. About 8% Of the total people surveyedanswered that theyAre not
sure that size should be taken into consideration whilebuying wrist watch and about
21% and about71% Of the total people surveyedanswered that they are agree and
strongly agree that size should be taken intoconsiderationwhilebuyingwristwatch.
VIII WATERRESISTENCE

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. Here 1-
3 means that on number 1 not sure , number 2 means they areagree , number 3 means
strongly agree. About 6% Of the total people surveyedanswered that they are not
sure water resistance should be taken into considerationwhile buying the wrist watch
and about 25% and about 69% Of the total peoplesurveyed answered that they are
agree and strongly agree that water resistanceshould
betakenintoconsiderationwhilebuyingthe wristwatch.
Q8-Howsatisfiedareyouwithyourcurrentwristwatch?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
69% Of the total people surveyed answered that they are verysatisfied with their
current wrist watch they have and about 21% are only
satisfiedwiththeircurrentwristwatchtheyhaveandabout10%Ofthetotalpeoplesurveye
dansweredthattheydissatisfiedwiththeircurrentwrist watchthey have.
Q9-Howmanywristwatchesdoyouowncurrently?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
11% Of the total people surveyed answered that they have
onlyonewristwatchtowearandabout61%,about21%andabout7%Ofthetotalpeoplesur
veyedansweredthattheyhave2,3andmorethan3respectivelythattheycurrentwrist
watchtowear.
Q10-Whichofthefollowingmediaplatformsinfluenceyourdecisionofbuyinga
particular wrist watch?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
12% Of the total people surveyed answered that theyusedmagazines media platforms
influence your decision of buying a particular wristwatch and about 37%, about 36%
and about 15% Of the total people
surveyedansweredthattheyusednewspaper,onlineadvertisementandcelebrityblogsres
pectively media platforms influence your decision of buying a particular wristwatch
Q11-Howoften doyou buya newwristwatch?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
13% Of the total people surveyed answered that they buy thewrist watch every
month and about 32%, about 41% and about 14% Of the totalpeople surveyed
answered that they but the wrist watch every 2 month, every 6month andonce a year
respectively.
Q12-Wheredoyouusuallypurchaseyourwristwatchesfrom?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
22% Of the total people surveyed answered that they but theirwrist watch from
exclusive outlets and about 31%, about 36% and about 11%
buytheirwristwatchfromonlineshops,shopping mallsandcompanyshowroom.
Q13-Doyoupreferawarrantyperiodforyourwristwatch?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsand graphs. About
94% Of the total people surveyed answered that they have thewarranty period of
their wrist watch and about 6% Of the total people
surveyedansweredthattheydonothavewarrantyperiodof theirwristwatch
Q14-Do youwishtobuyyourpreferredbrandwristwatchagain?

INTERPRETATION

Thequestionwasrespondedby100people.Thedatacollectedthroughthequestionnaires
urveywasanalysedandinterpretedusingthefrequencytables,chartsandgraphs.About69
%Ofthetotalpeoplesurveyedansweredthattheyaresatisfieswiththeircurrentwristwatch
andabout10%Ofthetotalpeoplesurveyedansweredthat they are not satisfied with their
current wrist watch and about 21% are neutralthat meanstheyarenotsure.
 FINDINGS

THEFINDINGOFTHECONSUMERSATISFACTIONSURVEY

• 72%of the respondentsinthe agegroupof17-20 years

• 47oftherespondentswhobuy
wristwatchwerefoundouttobemaleswhileonly53%werefemales.
• Around100%oftherespondentwanttowearthewristwatch
• Around41%oftherespondentwearwristwatcheveryday
• Around47%oftherespondentpreferred digitalwatchtowear
• Around66%oftherespondentareusingstraptypeofwristtwatch
• Around45%oftherespondentarewillingtosendrs10000tors25000onwrist
watch
• Around69%oftherespondentaresatisfiedwiththeircurrentwristwatch
• Around61%oftherespondenthave2wristwatchcurrently
• Around41%oftherespondent buythenewwristwatch every6months
• Around94%oftherespondenthavethewarrantyperiodfortheircurrentwrist
watch.
 CHAPTER – 5

CONCLUSIONS AND
RECOMMENDATIONS
 Conclusion
1. No business can exist without customers. Customer value is an asset to the
organization.Hence, in order to maintain the customer, the organization needs to ensure
that the
rightproductsandservices,supportedbytherightpromotionandmakingitavailableattherightti
mefor thecustomers.
2. Whilequalityservicesisequallyimportantthatacustomerexperiencesthe"WowEffect"thatonl
y superiorcustomer servicecandeliver.
3. Abusinessthatcaterstotheircustomers`needswillinevitablygaintheloyaltyoftheircustome
rs,thusresulting inrepeat businessaswellas potentialreferrals.
4. Consequently,itisimperativethatbusinesses gettoknowtheircustomers.
5. Establishingaprofessionalrelationshipwithcustomersempowersuswiththeknowledgeofwh
at our customers need.
6. Whenabusinessfocuseson deliveringwhatisof valueto theircustomers,
thiswillgeneratethe potential forrepeat businessas well.
7. Thefeedbacksfromthesurveyisatestamenttothecustomersatisfactionhypothesismostdefinite
ly,thereexistsapositiverelationshipbetweenreliabilitywithcustomersatisfaction.
8. Similarly, the other attributes, such as; assurances, tangibles, empathy and
responsivenessallhavepositiverelationship with customer satisfaction.
9. It is far more difficult to measure the level of performance and satisfaction when it
comestotheintangibleexpectations.Oneofthewaystohelpobtainloyalcustomersisbyhavingpr
oducts and services that were so good that there is very little chance that the
customerrequirementswill not bemet.
10. Ofcourse, oneof thedifficulties inunderstanding thetruecustomer requirements
isthatthecustomer can and will changethem without noticeorexcuse.

11. Havingagoodrecoveryprocessforadissatisfiedcustomerisaveryimportantandnecessary
process for any service organization in order to grow and gain monopolyotherwise
people may shift to competitor’s product or services and your future
objectivesmaybecome uncertain.
 12. Wrist watch has successfully been able to attract and create a large customer base
andemerged as one of the largest. It further has chance to become a leader of networks in
theworld.

RECOMMENDATION

Suggestiongivenby thebythe respondentto improvebrandimage.

Variousresponseswerereceived
forthequestions.Alltheresponseshavebeensummarizedasfollows:

• Introducemoretrendyandinnovativedesigns
• Focusonnichemarketssuch asworkingmenandwomen
• Spreadawarenessabout
availabilityofwatchesinlowersegmentsasmostoftheconsumersfeel
thatwristwatchis important partof theirlifestyle
• Takestepstochangeconsumerperceptionaboutwristwatches
• Improveaftersalesservice
• Promoteyourproduct.
 BIBLOGRAPHY

• www.watchindustry.com
• www.watchcompanyindia.com
• www.generalinformationofwatchcompanies.com
• www.fashiontrendsofwrisrtaches.com
• www.marketoveriewofwatchindustry.com
• www.pricelistofwristwatchindustry.com
• www.companyprofileofwatchindustry.com
 ANNEXURE
Q1-

NAMEQ-

2AGE

Q3-EMAILADDRESS

Q4-GENDER

o Female
o Male
o Prefernottosay

Q5-OCCUPATION

o Studento
Employee
o Homemaker
o BusinessOwner
o Other

Q6-Doyouwearawristwatch?

o YES
o NO

Q7-Howoftendoyouwearawristwatch?

o Everyday
o Most of
thetimeoSometime
s
o Onlyonoccasions
Q8-Which isyour preferred typeofwristwatch to wear?

o Digital
o Automatic
o Quartz

o Winding

Q9-Whichtypeofwatch areyoucurrentlyusing?

o Chain
o Strap

Q10-Howmuchareyouwillingtospend onawristwatch?

oRs 1000-Rs 5000o

Rs5000-Rs 10000o
Rs 10000-Rs 25000o
AboveRs 25000

Q11-ChooseyourTop3favouritebrandsfromthefollowing:-

ROLEX RADO APPLE ARMANI GUCCI TITAN LAMEX

FAVOURITE1 O O O O O O O

FAVOURITE2 O O O O O O O

FAVOURITE3 O O O O O O O

Q12-Pleaserate thefollowing valueswithrespect toyourdecisionofbuyinganew

wristwatchonascale of 1-3 where1is Important, 2 is Neutraland 3 is Unimportant.

ICOMFORT

1 2 3

O O O
II STYLE

1 2 3

O O O

IIIP RICE

1 2 3

O O O

IV LIFESTYLE

1 2 3

O O O

VQUALITY

1 2 3

O O O

VIDURABILITY

1 2 3

O O

OVII SIZE

1 2 3

O O

OVIII

WATERRESISTANCE

1 2 3

O O O
Q13-Howsatisfiedareyou withyour currentwrist watch?

o VerySatisfied
o Satisfied
o Dissatisfied

Q14-Howmanywrist watches doyou owncurrently?

o 1
o 2
o 3
o MoreThan3

Q15-Which ofthefollowing mediaplatforms influenceyourdecision ofbuying

aparticularwristwatch?

o Magazines
o Newspaper
o Onlineadvertisements

o CelebrityBlogs

Q16-Howoftendo youbuy anewwrist watch?

o Every month
oEvery 2
monthsoEvery 6
monthsoOnceayea
r

Q17-Wheredoyou usuallypurchaseyourwristwatchesfrom?

o Exclusiveoutlets
o Onlineshops
o Shoppingmalls
o Companyshowroom
Q18-Doyoupreferawarranty period foryourwristwatch?

o YES
o NO

Q19-Doyou wishto buyyour preferredbrand wristwatchagain?

o YES
o NO
o MAYBE