Consumer Behavr 1 1

7/31/2019 Consumer Behavr 1 1

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Consumer BehaviorUnder the guidance of Ms.Ritu Malhotra

karishma yadavBy: Nikhita Fatehpuria

Nishtha Agarwal

Chikky Jain

Karishma Yadav


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Table of Contents

INTRODUCTION .................................................................................................... 3

Area Of Research ................................................................................................................................................ 3

Objective .............................................................................................................. 3

LITERATURE REVIEW ............................................................................................. 4

RESEARCH METHODOLOGY ................................................................................... 6

Type of Research................................................................................................................................................. 6

Research Design Technique ............................................................................................................................ 6

Methods of Research ........................................................................................................................................ 6

Data used .............................................................................................................................................................. 7

Sampling technique used ................................................................................................................................. 7

Results & observations........................................................................................ 10

Conclusion .......................................................................................................... 57


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INTRODUCTION

Area Of Research

The focus of the survey is to analyze the consumer behaviour amongst luxury watch

wearers in the city of Kolkata.

The research studies the consumer behaviour of luxury watch wearers in Kolkata, in

terms of their attitude, brand loyalty, perception, their price sensitivity and buying

behaviour, frequency of wearing watches and reference group.

OBJECTIVE

Primary

To study the consumer behaviour of luxury watch wearers in KolkataSecondary

To study the preference of luxury watch wearers in Kolkata. To study consumer preference, buying behavior, attitude and perception.


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LITERATURE REVIEW

Luxury unlimited by Bhakti Chuganee (june 2006) (page 56-60)

There was a time when society ladies, CEOs and the well heeled went abroad for

shopping. Paris today is Palika Bazaar in New Delhi or Heera Panna in Mumbai.

Actually that's not quite right. You don't have to depend on the smuggled stuff any

more. The makers of luxury goods have officially flocked to India. You can find up

market outlets dotted all over metro landscapes. Says Patrick Normand, managing

director of Cartier (Middle East & South Asia): The growth of India as a luxury

products market, and its emerging potential is very obvious now especially as the

economy is booming and there is a general positive sentiment towards global

brands. According to a study by the Discovery division of Mumbai - based O&M

advertising, India and China are beginning to contribute in a big way to the global

market for luxury products. This global market was estimated at approximately

$69.4 billion in 2003 and is expected to grow 42 per cent to reach $100 billion by

2008. A Technopak study puts the Indian luxury market at around $444 million.

According to the World Wealth Report 2005 published by Capgemini and Merrill

Lynch, the so-called BRIC nations - Brazil, Russia, India and China emerge as an

economic force and create wealth in the process. In fact, China is expected t o slow

down and its neighbours are likely to feel the pinch. One exception is India,

qualifies the report. In terms of numbers, O&M says there were 61,000 high net

worth individuals (HNIs) in India in 2003. The World Wealth Report puts HNI growth

in India at 14.6 percent per annum, nearly double the global rate. With the recent

stock market boom, this is likely to be much higher. More than the numbers, it's the

attitude that has changed. The Indian consumer no longer minds paying a premium

for quality, says Yohan Poonawala, chairman & managing director of Poonawala

Fashions. It makes practical sense to bring international fashion to India.What's

available today ranges from Porsche cars, Pershing yachts, Louis Vuitton bags and

suitcases, to Bang & Olufsen audio systems. And of course, the numerous clothes

brands Moschino, Cavalli, Ermenegildo Zegna and Dolce & Gabbana (D&G), to

name a fewellery ever made.


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The IT revolution, and the consequent demand for Indian brainpower, has created a

whole new breed of wealthy global Indians. At the other end, an increasingly open

economy has created new business opportunities, which has resulted in a slew of

new, extremely successful first generation businessmen. They are millionaires. Theyspend. They sport Vertu mobiles. But they may not even be comfortable with

English. All of a sudden, wealth is no longer the preserve of the elite.

This article is based on scope and growth of luxury brands in India. Thus deriving

from this, our market study is to understand the scope of fashion luxury brands in

Kolkata. This article traces the entry of luxury brands such as Cartier in India as early

as 1911. It specifies the top sectors of luxury brands in India, the current luxury

market scenario, its boom and various statistics. Similarly, our study will be based on

Kolkata consumer base, and whether the Kolkata market is ready for luxury brands in

the fashion sector. The study will also divulge the present and potential consumers

for these brands. It will also highlight their expectations from these brands in the

fields of customer service and customer satisfaction.


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RESEARCH METHODOLOGY

The project design shall be based on principles of Exploratory Research Techniques.

Type of Research

Quantitative

Quantitative research is based on measurement / quantification of thephenomenon under study. In other words, it is data based and hence more

objective and more popular.

Hence well do market analysis using Statistical tools: SPSS software, version17.0.

Research Design Technique

Exploratory

It focuses on the discovery of ideas. It is preliminary investigation, which doesnot have a rigid design.

We are using exploratory technique to explore the opportunity for luxurywatch market in Kolkata.

Methods of Research

Survey

It can be defined as Specification of procedures for gathering informationabout a large number of people by collecting information from a few of

them. (Black and Champion).

By surveying data, information may be collected by observation, or personalinterview, or mailed questionnaires, or administering schedules or telephone

enquiries.

We will carry the survey through personal interviews, mailing questionnaires,and through social network sites.


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Dear Respondent,

As part of an academic research it is aimed to collect the consumer

behaviour for luxury watch brands owned by you. You are requested to

spend some of your valuable time to respond following questions about the

brand of watch you wear.

Name:Age: a) below 25 b) 25-35 c) 35-45 d) above 45

Occupation: a) business b) professional c) self employed d) student e)

others

Income (per annum): a) below 10 lakhs b) 10- 20 lakhs c) above 20 lakhs

Gender:

Marital status:

1) Which brand of watch do you wear?

a) Rolex b) Omega c) Cartier d) Tag Heuer e) others (please mention)

2) How frequently do you wear the watch?

a) Daily b) social gatherings c) very special occasions

3) Why did you purchase this brand?

a) Goes with your personality b) It is a status symbol c) for its fine design d)

someone you know owns it

4) If the brand you own comes up with a new range would you like to own

one of them? Yes No Maybe

5) What is the feature that attracts you the most?

a) Dial b) strap c) jewel d) chronograph

6) If the price of the owned brand falls, it will affect your purchase decision

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

7) If you have more options in the luxury watch category, it will affect your

purchase decision

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

8) The celebrity associated with the brand affects your purchase decision

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

9) I never buy a luxury brand inconsistent with the characteristics with

which I describe myself.

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

10) When in a bad mood, I may buy luxury watch brands as self-given gifts

for alleviating the emotional burden.

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

11) I can enjoy luxury watch brands entirely on my own terms no matterwhat others may feel about them.


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Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

13) Before purchasing a product it is important to know what kinds of

people buy certain watch brands.

Stronglydisagree

1 2 3 4 5 6 7 Stronglyagree

14) I tend to pay attention to what others are buying.

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

I think investment in a luxury watch is worth its retail price

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

For me, I am willing to pay a premium price for limited edition luxury

watch.

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

I have less desire towards luxury brand watches when mass quantities of

people consume the same products as me.

Strongly

disagree

1 2 3 4 5 6 7 Strongly

agree

16) While purchasing a gift worth Rs. 50000 or above, will watch be one of

your preferred choice? Yes No May be

*Thank you for your time & patience*


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Results & observations

18 respondents have answered that if the price of the brand falls, it will affect their

purchase decision, thus showing that they are price sensitive and the brand loyalty

amongst them is not that strong. The average score amongst them is 1.611, which

shows that they agree to the statement strongly. But 25 respondents have disagreed

to the statement, proving that they are price sensitive, while the average is 6.44,

which shows that most of them strongly disagree with the statement.

30 respondents have answered that if there are more brand options in Kolkata their

purchase decision would be affected, showing that the brand loyalty amongst them

is not that strong. Given the option of other brands, they would not purchase the

current brand. The average score amongst them is 1.7, which shows that they agree

to the statement strongly. But 18 respondents have disagreed to the statement,

proving that they are brand loyal, and their purchase decision would not depend on

the number of brands available, while the average is 6.67, which shows that most of

them strongly disagree with the statement.

Only 5 respondents agree that celebrity associated with the brand affects their

purchase decision, with an average of 2.6, which is low. 44 respondents disagree to

the statement and 2 are neutral to it, with an average of 6.727, thus showing that

the degree of disagreement is strong. Thus proving, that majority of the consumers

are not affected by the celebrity endorsing the brand.

31 respondents, buy watches according to their characteristics, with an average

score of 1.5483, thus showing that they strongly agree with the statement. While 18

respondents disagree with the statement, with an average score of 6.5, which shows

that the are affected by other factors apart from their own personality while making

purchase decisions.

Only 8 respondents, agree to the statement that they buy watches when in a bad

mood, with an average score of 2.375, which shows that mood does not play a major


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role in making purchase decisions. While 40 respondents disagree with it, with an

average of 6.9, which is relatively very high. Thus showing that purchase decision of

watches in independent on the mood.

41 respondents agree with the statement that they enjoy luxury watches without

much consideration of what others think, with an average score of 1.3, thus showing

a relatively high agreement with the statement. While 4 respondents disagree to the

statement, with an average score of 6.75, thus proving that majority of the

respondents are not affected by others opinions.

17 respondents agree to the statement that before purchasing it is important to

know what sorts of people buy what products, with an average score of 1.8, thus

showing that pre purchase knowledge is low amongst the consumers. While 32

respondents disagree with the statement, with an average of 6.8.

10 respondents agree with the statement that they pay attention to what others are

buying, with an average of 2.2, which is quite low and 36 respondents disagree with

the statement, with an average of 6.6388. thus showing that majority of the

consumers are not influenced by reference group- such as society, their family,

friends etc.

29 respondents consider investment in a watch is worth is retail price, with an

average score of 1.449, which is a high score. While 18 respondents disagree with

the statement, with an average score of 6.611, thus proving that majority of the

respondents consider it to be good investment, which could be a major driving force

behind purchase of luxury watches.

22 respondents are willing to pay premium price for a limited edition, with an

average score of 1.863, thus showing that they are price insensitive, and they wish to

get a product which is not very easily available, while 25 respondents with anaverage score of 6.4 are not willing to pay a premium price for such a product.


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32 respondents have less desire to purchase a product which is consumed in mass

quantities, thus the feeling of exclusivity is a major driving force behind their

purchase, while 15 respondents with an average of 6.4 are not impacted by this.Thus showing that their purchase decision is not based on how many people

purchase the product, but on other intrinsic factors.

41 respondents, consider watch to be a good product for gift while 4 do not. The

average of former is 1.7 while that of latter is 6.5.

The overall study of the respondents with age income group and gender

depicts the following information about the purchase of luxury watches.

1

22%

225%

3

6%

4

18%

5

29%

1

2

34

5

agewise distribution of sample

agewise distribution of

sample

below 25 19

25-30 9

31-35 12

36-40 5

above 40 6


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Occupation wise distribution of sample

Income wise distribution of sample

1

21%

2

16%

3

63%

1

2

3

1

51%237%

3

12%

1

2

3

occupation wise distribution of sample

business 11

homemaker 13

profession 3

self employed 9

student 15

incomewise distribution of sample

below 10 lakhs

10-20 lakhs

above 20


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Gender wise distribution of sample

1

51%2

37%

3

12%

1

2

3

1

47%

2

24%

3

27%

4

2%

1

2

3

4

genderwise distribution of sample

female 25

male 26

frequency distribution of sample

daily

social gatherings

special occassions

fine design 24

statussymbol 12

personality 14I like thebrand 1

Which attribute stimulates thepurchase of a brand.


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1

59%

2

35%

3

6%

1

2

3

1

10%

2

86%

3

4%

12

3

purchase decision will be affected

neutralpurchase decision will not be affected

will more options in the luxury

watch category, affect the purchase

decision

celebrity affects purchase

celebrity does not affect purchase

neutral

Does celebrity associated with

the brand affects the purchase

decision


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1

61%

235%

3

4%

1

2

3

1

80%

2

8%

3

12%

1

2

3

purchase according to characteristics

purchase not according to characteristics

neutral

Does the characteristics of the

brand should describe you

dont care about what others think

care about what others think

neutral

Does others opinion about the

brand affects the choice of purchase.


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1

33%

2

63%

3

4%

1

2

3

1

20%

2

70%

3

10%

1

2

3

knowledge before purchase is required

knowledge before purchase is notrequired

neutral

Is knowledge about the brand and

the customers associated relevant

pay attention to what others are buying

dont pay attention to what others arebuying

neutral

If the purchase is affected by what

others urchase


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1

57%

2

35%

3

8%

1

2

3

1

43%

2

49%

3

8%

4

0%

1

2

3

4

investment in watch is worth its retailprice

investment in watch is not worth its rprice

neutral

Is the investment worth

willing to pay for limited edition

not willing to pay for limited editio

neutral

Does limited edition watches

attracts the customers


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1

63%

229%

3

8%

1

2

3

1

80%

2

8%

3

12%

1

2

3

1

16%

2

78%

3

6%

1

2

3

less desire to buy when mass quantities ispurchased

no less desire to buy when mass quantities ispurchased

neutral

I would gift a watch 4

I would not gift a watch

neutral

How many would gift a watch

I purchase watches when in bad moodI dont purchase watches when in badmood

neutral

If the purchase of a brand elevates the bad

mood or sad emotions


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OBSERVATION DERIVED FROM FEMALE RESPONDENTS

daily36%

social

gatheri

ngs

48%

occassio

ns

16% daily

social

gatherings

occassions

fine

design

44%

status

symbol

28%

personal

ity

24%

I like the

brand

4% fine design

status symbol

personality

I like the brand

yes

32%

maybe

8%

no

60%

yes

maybe

no

dial

68%

strap

4%

jewel

28%

chronograph

0%

dial

strap

jewel

chronograph

when asked how frequently they wear

watch36% females wears it daily

48% on social gatherings

16% only for occasions.

when asked about which

attribute attracts them most

, the design attractd the

most followed by the status

symbol and then then the

personality and brand

preference.

If the brand preferrd by the

respondents came out with a new

range then 60% aint sure about

repurchase whereas 32% would go for

it.

Dial came out to be one of the most

attractive feature followed by studs n

jewels for females, whereas straps and

chronographs do not attract women

purchase much


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purchase

decision

will be

affected

48%

neutral

20%

purchase

decision

will not

be

affected

32%

purchase

decision will be

affected

neutral

purchase

decision will not

be affected

purchase

decision

will be

affected

72%

neutral

0%

purchasedecision

will not

be

affected

28%

purchase

decision will be

affected

neutral

purchase

decision will not

be affected

celebrity

affects

purchase

20%

celebrity

does not

affect

purchase

72%

neutral

8%celebrity

affects

purchase

celebrity does

not affectpurchase

neutral

With the fall in price of the

preferred brand for majority

purchase decision is affected

whereas many remains neutral

More categories in luxury brandswould affect the purchase decision

majorly and for few it wont.

Celebrity association does not

affect the purchase for a

particular brand to a large

extent whereas 20% are

influenced by it


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purchase

according

to

characteri

stics

72%

purchase

not

according

to

characteri

stics

24%

neutral

4%purchase

according to

characteristics

purchase not

according to

characteristics

neutral

dont care

about

what

others

think

88%

care

about

what

others

think

8%

neutral

4%dont care about

what others

think

care about what

others think

neutral

knowledge before

purchase

is

required

40%

knowledg

e before

purchase

is not

required

48%

neutral12%

knowledge

before purchas

is required

knowledge

before purchas

is not required

72% females purchase is based on the

characteristics of the brand whereas

24% are not affected by it

When purchasing only 8% care

about otheres approach whereas

88% consider other factors then

what people around might think

For 48% knowledge about the

brand is not required whereas

40% believe in knowing about

the brand.


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pay

attention

to what

others are

buying24%

dont pay

attention

to what

others are

buying

neutral

12%pay attention to

what others are

buying

dont pay

attention to what

others are buying

neutral

investmen

t in watch

is worth

its retail

price

investmen

t in watch

is not

worth its

retail price

28%

neutral0%

investment in

watch is worth its

retail price

investment in

watch is not

worth its retail

price

neutral

When asked if the theinvestment worth its retail

proce 72% strongly believe it is

whereas 28% feel less about the

worth

Many females do not really care

what people around buy , there

is an independent decision

whereas 24% do notice thepurchasing around.


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OBSERVATIONS DERIVED FROM MALE RESPONDENTS

daily

64%

social

gatherings

28%

occassions

8%

daily

social gatherings

occassions

fine design

50%

status

symbol

15%

personalit

y35%

I like the

brand

0%

fine design

status symbol

personality

I like the brand

yes

19%

maybe

27%

no

54%yes

maybe

no

Q1when asked how frequently they

wear watch36% females wears it daily

48% on social gatherings

16% only for occasions.

Q2.when asked about which attribute

attracts them most , the design attractd

the most followed by the status symboland then then the personality and

brand preference.

If the brand preferrd by the

respondents came out with a new

range then 60% aint sure about

repurchase whereas 32% would go

for it.


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dial

50%

strap

8%

jewel

11%

chronogra

ph

31%

dial

strap

purchase

decision

will be

affected

23%

neutral

12%

purchase

decision

will not be

affected

65%

purchase decision

will be affected

neutral

purchase decision

will not be

affected

purchase

decision

will be

affected

46%

neutral

8%

purchase

decision

will not be

affected

46%

purchase decision

will be affected

neutral

purchase decision

will not be

affected

dial came out to be one of the most

attractive feature followed by studs

n jewels for females, whereas

straps and chronographs do not

attract women purchase much

With the fall in price of the

preferred brand for majoritypurchase decision is affected

whereas many remains neutral

More categories in luxury

brands would affect the

purchase decision majorly

and for few it wont.


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celebrity

affects

purchase

0%

celebrity

does not

affect

purchase

100%

neutral

0%celebrity affects

purchase

celebrity does not

affect purchase

neutral

purchase

according

to

characteri

stics

50%

purchase

not

according

to

characteri

stics

neutral4%

purchase

according to

characteristics

purchase not

according to

characteristics

dont

care

aboutwhat

others

think

73%

care aboutwhat

others

think

8%

neutral

19%dont care about

what others think

care about what

others think

neutral

Celebrity association does not

affect the purchase for a

particular brand to a large

extent whereas 20% are

influenced by it

72% females purchase is based on

the characteristics of the brandwhereas 24% are not affected by it

When purchasing only 8% care

about otheres approach

whereas 88% consider other

factors then what people

around might think


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knowledge

before

purchase

is required

27%

knowledge

before

purchase

is not

required

73%

neutral

0%knowledge before

purchase is

required

knowledge before

purchase is not

required

neutral

pay

attention

to what

others arebuying

15%

dont pay

attention

to what

others are

buying

neutral

8% pay attention to

what others are

buying

dont pay

attention to what

others are buying

neutral

investmen

t in watch

is worth

its retail

price

42%

investment in watch

is not

worth its

retail price

42%

neutral

16%

investment in

watch is worth its

retail price

investment in

watch is not

worth its retail

price

neutral

For 48% knowledge about the

brand is not required whereas

40% believe in knowing about

the brand.

Many females do not really care

what people around buy , there is

an independent decision whereas24% do notice the purchasing

around.

When asked if the the

investment worth its retail

proce 72% strongly believe it is

whereas 28% feel less about the

worth


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I purchase

watches

when in

bad mood

11%

I dont

purchas

e

watches

when in

bad

neutral

4%I purchase

watches when in

bad mood

I dont purchasewatches when in

bad mood

neutral

1

3

1

2

3

1

2

3

daily 5socialgatherings 5

occassions 1

Showing how frequently they wear

watches.

fine design 8status

symbol 2

personality 1

Which attribute stimulates the purchase of

a brand.

yes 5

maybe 5

no 1

If the brand came out with a new range

what would be the purchase


31/58

1

2

3

1

2

3

1

2

3

chronograph 2

dial 8

strap 1

What feature of a watch attracts the

most


neutral

purchase decision will not be affected

Will the fall in price of the owned brand affect

the purchase decision.


neutral

purchase decision will not be affected

will more options in the luxury watch category,

affect the purchase decision


32/58

1

2

3

12

1

2

3

1

2

celebrity affects purchase

celebrity does not affect purchase

neutral

Does celebrity associated with the brandaffects the purchase decision

purchase according to characteristics

purchase not according to characteristics

neutral

Does the characteristics of the brand

should describe you

dont care about what others think

care about what others think

neutral

Does others opinion about the

brand affects the choice of purchase.

knowledge before purchase is requireknowledge before purchase is not

required

neutralIs knowledge about the brand

and the customers associated

relevant


33/58

1

2

3

1

2

1

55%

2

45% 1

2

1

91%

2

9%

1

2

pay attention to what others are bdont pay attention to what others

buying

neutralIf the purchase is affected by

what others urchase

investment in watch is worth its retailpriceinvestment in watch is not worth its retailprice

neutral

Is the investment worth

willing to pay for limited edition

not willing to pay for limited edition

neutral

Does limited edition watches

attracts the customers

I would gift a watch 1


neutral

How many would gift out a watch


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=


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As per the age respondents were

interviewed and the followed data could beincurred

Respondents of age BELOW25

daily

42%

social

gatherin

gs

42%

occassio

ns

16% daily

socialgatherings

occassions

fine

design

68%

status

symbol

11%

personality

21%fine design

status symbol

personality


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yes

28%

maybe

33%

no

39%yes

maybe

no

dial

79%

0%

jewel

5%

chronogr

aph

16%

dial

jewel

chronograph

purchase

decision

will be

affected

37%

neutral

26%

purchase

decision

will not

be

affected

purchase

decision will

be affected

neutral

purchase

decision will

not be affected


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purchase

decision

will be

affected

68%

neutral

0%

purchase

decision

will not

be

affected

32%

purchase

decision will

be affectedneutral

purchase

decision will

not be affected

celebrity

affects

purchase

5%

celebrity

does not

affect

purchase

90%

neutral

5%celebrity

affects

purchase

celebrity does

not affect

purchase

neutral

purchase

accordin

g to

characte

ristics

68%

purchase

not

accordin

g to

characte

ristics

32%

neutral

0%

purchase

according to

characteristics

purchase not

according to

characteristicsneutral


38/58


39/58

investment

in watch is

worth its

retail price

79%

investment

in watch is

not worth

its retail

price

16%

neutral

5% investment in

watch is worth its

retail priceinvestment in

watch is not worth

its retail price

neutral

willing to

pay for

limited

edition68%

not

willing to

pay for

limitededition

neutral0%

willing to pay for

limited edition

not willing to pay

for limited edition

neutral

less desireto buy

when mass

quantities

is

purchased

no less

desire to

buy when

mass

quantities

is

purchase

neutral

5%

less desire to buy

when mass

quantities is

purchased

no less desire to

buy when mass

quantities is

purchasedneutral


40/58

I would gift

a watch

90%

I would not

gift a watch

5%

neutral

5%

I would gift awatch

I would not gift a

watch

neutral

I

purchase

watches

when in

bad

mood

45%

I dont

purchase

watches

when in

bad mood

55%

I purchase watches

when in bad mood

I dont purchase

watches when in

bad mood


41/58

AGE BETWEEN

25-30

daily

56%

socialgatherings

44%

occassions0%

daily

social gatherings

occassions

fine design

11%

status

symbol

33%

personality

56%

fine design

status symbol

personality

yes

11%

maybe

22%

no

67%

yes

maybe

no


42/58

dial33%

0%

jewel

22%

chronograp

h

45%

dial

jewel

chronograph

purchase

decision

will be

affected

56%

neutral0%

purchase

decision

will not be

affected

44%purchase decision

will be affected

neutral

purchase decision

will not be affected

purchase

decision

will be

affected

89%

neutral

0%

purchase

decision

will not be

affected

11%

purchase decision

will be affected

neutral

purchase decision

will not be affected


43/58


44/58

pay

attention

to what

others

are

buying

33%

dont pay

attention

to what

others

are

buying

neutral

11%

pay attention to

what others are

buying

dont pay

attention to

what others are

buying

neutral

knowledg

e beforepurchase

is

required

33%

knowledg

e before

purchase

is not

required

67%

neutral

0%knowledge

before purchase

is required

knowledge

before purchase

is not required

neutral

investme

nt in

watch is

worth its

retail

price

45%

investme

nt in

watch isnot

worth its

retail

price

neutral

22%

investment in

watch is worth

its retail price

investment in

watch is not

worth its retail

price

neutral


45/58

willing

to pay

for

limited

edition

44%

not

willing

to pay

for

limited

edition

neutral

0%willing to pay

for limited

edition

not willing to

pay for limited

edition

neutral

less

desire to

buy

when

mass

quantitie

s is

purchase

no less

desire tobuy

when

mass

quantitie

s is

purchase

neutral

11%

less desire to

buy when

mass

quantities is

purchased

no less desire

to buy when

mass

quantities is

purchased

neutral

I would

gift a

watch

78%

I would

not gift a

watch11%

neutral

11%

I would gift awatch

I would not gift

a watch

neutral


46/58

AGE BETWEEN

30-35

I

purchase

watches

when in

bad mood

0%

I dont

purchase

watches

when in

bad mood

89%

neutral

11%I purchase

watches when

in bad mood

I dont purchase

watches when

in bad mood

neutral

daily

50%

social

gatherings

25%

occassions

25%

daily

social gatherings

occassions


47/58

fine

design

34%

status

symbol

33%

personalit

y

25%

I like the

brand

8%

fine design

status symbol

personality

I like the brand

yes

34%

maybe

8%

no

58%

yes

maybe

no

dial

50%

strap

8%

jewel

34%

chronogra

ph

8%

dial

strap

jewel

chronograph


48/58

purchase

decision

will be

affected

33%

neutral

25%

purchase

decision

will not be

affected

42%

purchase decision

will be affected

neutral

purchase decision

will not be

affected

purchasedecision

will be

affected

34%

neutral

8%purchase

decision

will not be

affected

58%

purchase decision

will be affected

neutral

purchase decision

will not be

affected

celebrity

affects

purchase

0%

celebrity

does not

affect

purchase

92%

neutral

8%

celebrity affectspurchase

celebrity does not

affect purchase

neutral


49/58

purchase

according

to

character

istics

58%

purchase

not

according

to

character

istics

42%

neutral

0%purchase

according to

characteristics

purchase not

according to

characteristics

neutral

dont

care

aboutwhat

others

think

67%

care

aboutwhat

others

think

16%

neutral

17%

dont care about

what others

think

care about what

others think

neutral

knowledg

e before

purchase

is

required

16%

knowledg

e before

purchase

is not

required

67%

neutral

17%

knowledge

before purchase

is required

knowledge

before purchaseis not required

neutral


50/58


51/58

AGE BETWEEN

36-40

less desire to

buy when

mass

quantities is

purchased

41%

no less

desire to buy

when mass

quantities is

purchased

42%

neutral

17%less desire to buy when

mass quantities is

purchased

no less desire to buy

when mass quantities is

purchased

neutral

I would gift a

watch

75%

Iwoul

d not

gift a

watc

h

neutral

17%

I would gift a watch


neutral

I purchase

watches

when in bad

mood

17%

I dont

purchase

watcheswhen in bad

mood

neutral

0% I purchase watcheswhen in bad mood

I dont purchase

watches when in bad

mood

neutral


52/58

daily

60%

social

gatherings

40%

occassions

0%

daily

social gatherings

occassions

fine design

80%

status

symbol

0%

personalit

y

20%

I like the

brand

0%

fine design

status symbol

personality

I like the brand

yes

0%

maybe

40%no

60%

yes

maybe

no

dial

100%

strap

0%

jewel

0%

chronograp

h

0%

dial

strap

jewel

chronograph


53/58

purchase

decision

will be

affected

20%

neutral

0%

purchase

decision

will not be

affected

80%

purchase decision

will be affected

neutral

purchase decision

will not be

affected

purchase

decision

will be

affected0%

neutral

20%

purchase

decision

will not be

affected

80%

purchase decision

will be affected

neutral

purchase decision

will not be

affected

celebrity

affects

purchase

0%

celebrity

does not

affect

purchase

100%

neutral

0%celebrity affects

purchase

celebrity does not

affect purchase

neutral

purchase

according

to

characteri

stics

20%

purchase

not

according

to

characteri

stics

neutral

0% purchase

according tocharacteristics

purchase not

according to

characteristics

neutral


54/58

dont care

about what

others

think

80%

care about

what

others

think

0%

neutral

20%dont care about

what others think

care about what

others think

neutral

knowledge

beforepurchase is

required

20%

knowledge

before

purchase is

not

required

neutral

0% knowledge before

purchase is

required

knowledge before

purchase is not

required

neutral

payattention to

what

others are

buying

40%

dont pay

attention to

whatothers are

buying

40%

neutral

20%pay attention to

what others are

buying

dont pay attention

to what others are

buying

neutral


55/58

investment

in watch is

worth its

retail price

20%

investment

in watch is

not worth

its retail

price

neutral

0%investment in watch

is worth its retail

priceinvestment in watch

is not worth its

retail price

neutral

willing to

pay forlimited

edition

20%

not

willing

to pay

for

limited

edition

80%

neutral0%

willing to pay for

limited edition

not willing to pay for

limited edition

neutral

less desire

to buy when

mass

quantities is

purchased

40%

no less

desire to

buy when

mass

quantities is

purchased

neutral

0%less desire to buy

when mass

quantities is

purchased

no less desire to buy

when mass

quantities is

purchased

neutral


56/58

I would gift

a watch

80%

I would not

gift a watch

20%

neutral

0%

I would gift a watch

I would not gift a

watch

neutral

I purchase

watches

when in bad

mood

0%

I dont

purchase

watches

when in

bad mood

80%

neutral20% I purchase watches

when in bad mood

I dont purchase

watches when in

bad mood

neutral


57/58

Conclusion

Thus it is observed that according to the study, consumer behaviour varies according

to the age, gender and income distribution. While it is observed, that majority of themales wear the watch daily the majority of females wear it on social gatherings.

Majority of the males and females wear the brand because of its fine design. Both

females and males have less desire to purchase the same brand again, thus showing

that frequency of repeat purchase is low amongst luxury watch brand customers.

Similarly, they have similar likings towards the watch features. For most of the

female customers, the fall in price will affect their purchase decision while for most

of the males it will remain unchanged. Most of the females will change their brand

decision if Kolkata market is invaded by other brands, while the male respondents

response regarding this remain ambiguous.

For males and females both knowledge before the purchase is not essential. For

females investment in watches is worth its retail price, while the response amongst

men remains ambiguous. Females are less ready to purchase these brands when

consumed in mass quantities, however, this is not observed amongst the men.

While according to income distribution, the lowest and mid segment wear it at

similar places, the upper segment wears watches daily. While all three vary on their

opinion regarding repeat purchase. The lower segments purchase decision will

affected if the price falls but this is not true for the middle and upper segment. The

lower segments purchase decision will not be affected if more brands enter the

Kolkata market, but for the upper segments, they are ready to experiment with

more brand sin Kolkata. The middle segment does not purchase according to

characteristics while the upper and lower segment purchases according to

characteristics.

The lower segment gathers all the knowledge before a purchase while the upper

segment does not gather knowledge before the purchase decision is taken. The

upper segment consumers are not ready to pay for limited edition, while the lower

segment is ready.

Similarly, this study helps us to determine the consumer behaviour of different age

groups, their likings and preferences vary according to their age. The places where


58/58

their watches, their brand loyalty, attitude towards brands, their pre purchase

decision making and influence of reference groups vary.

Thus it is seen that consumers behaviour varies according to their gender, their age

as well as their income.

Documents

Consumer Behavr 1 1