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Marketing Management
Marketing research Report
on watches

Submitted to: Submitted by:


Prof. Ajeet Sharma Group no. 5
Ankita Jain
Ashish Sharma
Hitali Makkar
Disha Mahajan
(Group -5) Ambesh Srivastava
Indranil Bhowmick
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CONTENTS

ACKNOWLEDGEMENT………………………..3

PREFACE…………………………………………4

A QUICK LOOK TO WATCH INDUSTRY…...5

OBJECTIVES……………………………………..6

RESEARCH PLAN……………………………….7

ANALYSIS OF QUESTIONNAIRE…………….8

SWOT ANALYSIS……………………………….23

LIMITATIONS……………………………….....24

CONCLUSION………………………………....25

QUESTIONNAIRE……………………………….26
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ACKNOWLEDGEMENT

We would like to thank our faculty Prof. Ajeet Sharma for giving us the
opportunity to expel and work in the field of Marketing while doing the
research.

This report provided us the exposure to the real market and consumers in
the prevailing market. A well combination of theory and practice helped
us in compiling this report on marketing research.

We would like to give our gratitude and regards to all the consumers
who cooperated with us in giving their individual feedback towards the
product to reach a conclusion.
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PREFACE

With the fast pace of constantly increasing competition, companies are


coming up with some or other innovative options to make customers
highly satisfied and loyal towards them.

Marketing research is done to reach on a final decision and collect data


from consumers in order to reach on a conclusion thereby getting
feedback from them.

The project comprises of a consumer survey with a sample plan of 100


people from the age group up to 60 years. On the basis of survey
conducted various findings are explained. Finally the conclusion have
been given.
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A QUICK LOOK TO THE WATCH INDUSTRY

As the economy recovers, watch/clock marketers are feverishly


innovating, licensing fashion brands, and styling for every
possible taste. Rivals at all levels are realizing that it now takes
more than good old fashioned merchandising to stand out from
the vast herd of watches.

This report covers time-keepers at all levels, from the inexpensive


casual watches to high-end, luxury items. All kinds of watches are
covered from a strap watch to a digital watch. Various features of
a watch like quality, price, design, brand image, warranty are
considered that affect the consumer buying decision.
Promotional that motivates people to get aware about the brand
and buy that particular brand are studied with varied responses of
customer.
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OBJECTIVES

• To classify the users of watches on the basis of three categories -


lower income group, middle income group, and higher income
group.
• To study The Marketers including discussions of specific
marketer brand.
• The Consumer who’s buying what, and where.
• To analyze latest Trends and Opportunities.
• To Discover what the luxury watch consumer considers to be
the most important features of watch, enabling you to tailor
your offering accordingly
• Gain insight into future trends
• Develop an idea in the watch market
• To find the market leader in the industry.
• To find out the recent threat to the watch market
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Research plan
The research is based on the survey filled from various types of
consumers in New Delhi region. The method adopted for these findings
is survey method. The main aim is to get the feedback from various
customers and users of watches. The questionnaire is thought to be the
most suitable because it allows structured, meaningful and uniform
interaction with the respondents. The questionnaire adopted includes
some of the open ended questions too.

Data source:
Primary data has been gathered to conduct the research.

Research approaches:
As mentioned earlier, survey has been conducted to gather the primary
data.

Research instrument:
Questionnaire has been taken as the Research instrument

Design of questionnaire:
The questionnaire is designed in a structured manner keeping in mind all
the basic steps for construction of a questionnaire and considering all the
scales.

Sample Plan:
Sampling unit: Information is gathered from various sampling units.
They are:
ƒ Students
ƒ Self employed people
ƒ Professionals
ƒ Businessmen
ƒ Housewives

Sample size:
Sample size of 100 customers consists from the following areas:
ƒ College
ƒ Restaurants
ƒ Shopping malls
ƒ Apartments
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ANALYSIS OF CONSUMER QUESTIONNAIRE

Q1. Which type of wrist watch do you like to wear?

No. of Percentage
Types users
Sports watch 20 20
Digital watch 6 6
Single Strap 18 18
Chain watch 32 32
Bracelet watch 16 16
Others 8 8
Total 100 100

Observation:
It is observed that chain watches are preferred over other types of
watches. Generally, bracelet watches are preferred by females and
sports watch by young generation most of which comprises of males.
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Q2. You prefer your watch as?

No. of Percentage
Type users
An accessory 46 46
A necessity 54 54

Observation:
In this question it is observed that the product watch is looked after as
a necessity over an accessory. Although there is not much difference
between the percentages, because user’s with their individual choice
went for the suitable option.
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Q3. Do you prefer a cell phone over your watch for referring
time?

No. of Percentage
Answer users
Yes 56 56
No 44 44

Observation:
More than 50% people do prefer cell phones over a watch and 44%
people do not prefer cell phones. This shows that the demand for the
watch is prevailing less in the market.

Q4. What features do you consider while purchasing a watch?

No. of Percentage
Features users
Quality 48 48
Price 22 22
Brand image 34 34
Style/ Design 60 60
Warranty 18 18
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Observation:
A single feature is not considered by the users, but more than 3
features are opted by them. This is the reason that we can see varied
number of users and percentages. In the survey 60% people go for
design over all other features while 48% for quality, thereby ignoring
price which is just at 22%. Warranty is at its minimum and brand
image is a bit higher as compared to it. All this depicts that design is
the most important feature for customers.

Q5. For what level does the warranty of a watch affect you while
making a purchase?

No. of Percentage
Level users
Priority 22 22
Often 38 38
Rarely 16 16
Does not affect 24 24
Total 100 100
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Observation:
It is observed that for 38% people warranty of a watch affects very
often, for 22% it is their priority, for 16% people warranty is a rare
affect and for 24% warranty does not affect at all.

Q6. Which brand of watch you are currently using?

No. of Percentage
Brands users
Titan 44 44
Timex 16 16
TAG Heuer 13 13
Fast track 15 15
Others 12 12
Total 100 100
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Observation:
Maximum number of people are using Titan that makes 44% of the
total users, and then second most preferred brand is Timex the
demand being for it is 16%, Tag Heuer being at 13% and Fast track at
15% and the other brands taking a share of 12%.

Q7. What motivated you to make your purchase?

No. of Percentage
Brands users
Newspaper/ Magazine 10 10
Electronic media 12 12
Banners/Hoardings 2 2
Friends/ family 20 20
Self Decision 56 56
Total 100 100
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Observation:
More than 50% users made their purchase on the basis of their own
decision without getting influenced by any promotional factors, while
20% by the suggestion of friends/ family, 10% by newspaper, 12% by
electronic ads and only 2% by Banners and hoardings. This shows that
the buying decision of a watch is not much affected by the promotional
strategies of the company. In fact major 0f the population rely on their
own when they think of making a purchase for a watch.

Q8. Does the publicity of watches by celebrities affect your


buying decision?

No. of Percentage
Answer users
Yes 65 65
No 35 35
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Observation:
Here the ratio is almost equal as 65% people say that their buying
decision is affected by the publicity of celebrities for watches while
35% say it does not affect their buying decision.

Q9. Are you satisfied with the brand that you are using?

No. of Percentage
Answer users
Yes 96 96
No 4 4
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Observation:
96% people said that they are satisfied with their existing brand while
only 4% said no, so there is not much scope of them to change their
brand. When new offers would be available with other brands, only
then, they will think to switch over the brands.

Q10. If no, what more is needed to make your watch suitable


according to you?

Observation:
As only 4% users are not satisfied with their existing brands, so
there are no more suggestions to be given, except one that the
watches should come up with more trends.

Q11. What additional features would you like to go for?

No. of Percentage
Features users
Day, month and date 16 16
Stop watch 12 12
Alarm 40 40
Temperature 32 32
Total 100 100
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Observation:
40% people want alarm as an additional feature in their watch. 32%
would like to have the temperature feature to be added, 16% needs
day, month and date and 12% wants stop watch facility in their
watches. It is observed that all the added features are well in demand.

Q12. How often you switch off the brands?


No. of Percentage
Features users
Very often 6 6
Depends on mood 50 50
Affordability 16 16
Brand loyal 28 28
Total 100 100

Observation:
50% says they change their brand depending on their mood or with
any new scheme in the market, 28% people are brand loyal and does
not prefer to switch off, 16% look for affordability before switching and
only 6% people change their brand very often. So with the new options
available and convenience of people they change their brand.
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Q13. If given a chance to change your watch, you would go for?

No. of Percentage
Brands users
Titan 26 26
Timex 21 21
TAG Heuer 15 15
Fast track 20 20
Others 18 18
Total 100 100

Observation:
Out of the brands considered for the survey, 26% of the people wants
to go for a purchase of titan if given a chance as Titan already captures
a lot of its existing customers, another 21% wish to switch to Timex,
for Tag Heuer that are high income group luxury watches with high
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price tags 15% is the statistics, . 20% wants to go for Fast Track and
18% wants to go in for other brands.

Q14. How would you rate your watch on the basis of following
features? (Rank on a scale of 1-5)

No. of Percentage Rating


Features users
Design 80 80 1
Price 40 40 4
Quality 68 68 2
Warranty 30 30 3
Colour 20 20 5

Observation:
Design has got the highest rating by 80% people, and then people gave
the second priority to quality after which warranty followed by price is
preferred, leaving color at the end. This depicts that price is not the
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top most priority for the users while they consider design as the
most important aspect.

Q15. Other information

AGE
No. of Percentage
Age users
20 or less 2 2
21-28 78 78
29-38 10 10
Over 39 10 10
Total 100 100
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Observation:
The survey comprises of people from different age groups but the
highest percent of people within the age of 21 and 28 took active
participation in the survey and showed their immense cooperation.
Only 12% of them were between the age of 29-39, 8% of them were
over 39 years of age and only 2% were less than 20.

SEX

No. of Percentage
Sex users
Male 64 64
Female 36 36

Observation:
The ratio of participation of males and females in the survey is 64:36
which shows that males took more participation in the survey as
compared with females.

INCOME GROUP
No. of Percentage
Income group users
100000-150000 16 16
150000-175000 30 30
175000-250000 26 26
250000 & above 28 28
Total 100 100
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Observation:
Only 16% from lower income group participated in the survey and
30% of the people are from the lower middle income group, 26% from
higher middle income group and 28% from higher income group. This
shows that higher and middle income group people were almost equal
in number for participation.
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SWOT ANALYSIS OF THE INDUSTRY

Strengths
• Watch industry is growing at the rate of 30% every year.
• As population is rising, the watch market is also expanding.
• Customers are not very price sensitive as far as quality watch is
concerned.

Weakness

• Not much advertising is done by the watch industry.


• No product innovation what so ever.
• Few numbers of exclusive showrooms reduces the consumer’s
accessibility to the product.
• There are few marketers, who are concentrated only up on a particular
niche segment.

Opportunity

• The young, independent individuals are the “trendsetters” that the


fashionable luxury watch and fine luxury watch brands can target.

• In India the market is huge and demand is unlikely to change

• People are using it as a fashion accessory which means more demand for
the product.

• Youth of India are far more brand conscious than their successor. That can
lead to the expansion of the market for branded watches.

Threats

• Many foreign players entering in the race.


• Too many players will dilute the market & the profit margin.
• Mobile phones acting as substitutes of the watches.
• Increasing the price of the raw material like steel may increase the price of
the product.
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LIMITATION

• This study has been done only in the South Delhi and hence cannot be
representative of Delhi as a whole.
• Sample size is very small it might not cover whole targeted population.
• The primary data is limited and is constrained by the availability and
approachability.
• The information given by the respondents may not be correct as some were
rarely interested and gave some rough ideas for the sake of answering.
• Due to paucity of time, it was impossible to know the interest of a large
number of respondents.
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CONCLUSION
After making the analysis and observation from the survey conducted
and information gathered from various customers about different
brands of watches, it is concluded that Titan is the most commonly
used brand by all the watch users. Timex is the second and best
priority for higher middle income group.
Fast Track being not so demanded remains on an average
position.This survey also gives information about the existing features
and some added features desired by customers that are to be
introduced by the companies.

Now a days, watches are facing serious competition with cell phone for
referring time, but with the cut throat competition all the leading
brands of watches are managing well in the market and this shows
that the charm of watches can never end whether it is an accessory for
some and necessity for others.

ƒ Chain watch is most commonly used by all customers.


ƒ Design and quality are two important factors in the purchase
decision of a watch.
ƒ Titan is the most commonly used brand.
ƒ Maximum consumers relied on their own decision of purchase
irrespective of the promotion of various brands.
ƒ Most of the people switch off brands with new offers.
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QUESTIONNAIRE
Kindly spare your precious time to fill this questionnaire.

1. Which type of wrist watch do you like to wear?


Sports
Digital watch
watch
Single
strap Chain watch
watch
Bracelet Others,
watch specify

2. You prefer your watch as?


An A
Accessory necessity

3. Do you prefer a cell phone over your watch for referring time?

Yes No

4. What features you consider while purchasing a watch?

Price
Quality
Brand
Style/Design
Image
warranty

5. For what level does the warranty of a watch affect you while making a
purchase?

Priority Often
Does
not
Rarely
affect
6. Which brand of watch are you currently using?

Timex
Titan
Tag
Fats Track
Heur
Others,
specify

7. What motivated you to make your purchase?


Electronic
Newspaper/Magezines Ads
Friends/
Banners/ Horadings
Family
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Self Decision

8. Does the publicity of watches by celebrities affect your buying decision?

Yes No

9. Are you satisfied with the brand that you are using?( if yes, jump to Q.11)

Yes No

10. If no, what more is needed to make your watch suitable according to you?

____________________________________________________________
__________________________.

11. What additional features would you like to go for?


Day,
month
Stop watch
and
Date

Temperature
Alarm

12. How often you switch off the brands?

Depends
Very Often on
mood

Brand
Affordability
loyal
13. If given a chance to change your watch, you would go for?

Timex
Titan
Tag
Fast Track
Heur
Others,
specify

14. How would you rate your watch on the basis of following features? (Rank
on a scale of 1-5)

Design Price
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Quality Warranty
Others,
Colour specify

15. Other information

Name ___________________.

Contact No.________________.

Age
20 or less 21 - 28 29 -38
Over 39

Sex
Male Female

Occupation ____________________.

Income group(annual)
1,00,000- 1,50,0000- 1,75,0000-
1,50,000 1,75,000 2,50,000
2,50,000 &
above