Final Watches

CHAPTER-1INTRODUCTION

INTRODUCTION TO THE PROJECT1.1 WATCH

A watch is defined as a spring driven timekeeper, small enough to carry on a person. Generally, this group would contain early watches worn on a chain around the neck, pocket watches, and then wristwatches. Before wristwatches became popular in the 1920s, most watches werepocket watches, which often had covers and were carried in a pocket and attached to a watch chain orwatch fob.In early 1900s, the wristwatch, originally called a Wristlet, was reserved for women and considered more of a passing fad than a serious timepiece. Real gentlemen, who carried pocket watches, were actually quoted as saying they would "sooner wear a skirt as wear a wristwatch".This all changed inWorld War Iwhen soldiers on the battlefield found using a pocket watch to be impractical, so they attached the pocket watch to their wrist by a cupped leather strap. It is also believed thatGirard-Perregauxequipped the German Imperial Navy in a similar fashion as early as the 1880s, which were used while synchronizing naval attacks and firing artillery. Most inexpensive and medium-priced watches used mainly for timekeeping are electronic watches with quartz movements. Expensive,collectiblewatches valued more for theirworkmanshipandaesthetic appeal than for simple timekeeping, often have purely mechanical movements and are powered by springs, even though mechanical movements are less accurate than more affordable quartz movements.

1.2 HISTORY OF WATCHES

Time is considered one of our most valuable assets.Evolution of Watch

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

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

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

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

Prior to 1600 The Earliest Watches 1600-1675 The Age of Decoration. 1675-1700 The Balance Spring. 1700-1775 Steady Progress 1775-1830 The First Chronometers 1830-1900 - The Era of Complications 1900 on Metallurgy to the RescuePrior to 1600: The Earliest Watches1485: Leonardo da Vinci sketches a fusee for a clock.1500s: Germany: Peter Henlein creates the first pocket watch.

1600-1675: The Age of DecorationEarly 1600s: Form watches becoming popular. Cases are shaped like animals and objects. Religious themes are popular.1635: Around this time that the fusee was adapted from clocks to watches.1659 - 1675: Christian Huygens invents the "Remontoire".

1675-1700: The Balance Spring1687: Daniel Quare patents the repeating mechanism that uses bells to sound quarter hours and the hours.

1700-1775: Steady Progress1704: Peter and Jacob Debaufre, Nicolas Facio, are the first to use rubies in watch movements. 1750: Watch makers began using enamel on watch dials. 1759: Thomas Mudge invents the English lever escapement. 1775: Abraham Louis Breguet sets up his own watch making shop in Paris, France.

1775-1830: The First Chronometers1780: Abraham Louis Perrelet invents the self winding movement. 1786: Breguet is the first to use guilloche on watch dials. 1791: J.F. Bautte founded the watch company that would eventually become Girard-Perregaux. 1807: Thomas Young invents the recording chronograph. 1809: Luther Goddard of Shrewsbury, Massachusetts is the first watch manufacturer in America. 1830: Thomas Prest registers a patent for the self winding watch.1830-1900: The Era of Complications1833: Antoine LeCoultre starts his own watch making business which later becomes Jaeger-LeCoultre. 1837: First Tiffany store opens. 1843: Adrien Philippe develops a watch with winding and setting through the crown. 1844: The start, stop, and reset chronograph is invented by Adolph Nicole. 1844: Antoine LeCoultre invents the million metres. 1848: Louis Brandt opens his own workshop in La Chaux-de-Fonds which eventually became the Omega Watch Company. 1853: Tissot makes the first dual time zone watch. 1858: Minerva is founded. 1860: Heuer is founded. 1865: Zenith founded. 1881: Movado founded. 1884: Greenwich, England is officially named the zero meridians and used as the world wide recognized basis of time zones. 1886: Geneva Seal established. 1894: Universal Geneva established.1900 Onwards Metallurgy to the Rescue1905: Hans Wilsdorf starts the Rolex Watch Company. 1914: Eterna introduces the first wristwatch with an alarm. 1918: Japan: Shakosha Watch Company opened. This would become Citizen in 1931. 1923: John Harwood is the first to mass produce a self winding wristwatch. 1924: Tokyo: Seiko brand name is launched by Kinttaro Hattori. 1926: Rolex introduces the first waterproof case called the "Oyster". 1929: First anti magnetic watch created by Tissot. 1933: Ingersoll introduces the "Mickey Mouse" watch. 1956: Rolex introduces their first model that displays the day and date. 1957: Hamilton introduces the world's first battery driven watch. 1962: Rado produces the world's first scratch proof watch called the "Diastar 1". 1962: ETA of Switzerland develops the first quartz battery operated watch. 1970: Hamilton releases the "Pulsar", the first electronic digital watch. 1972: Longines and Seiko introduce the LCD, (Liquid Crystal Display). 1980: Hublot founded. 1983: SMH of Switzerland launches the Swatch brand. 1985: Swiss Heuer Company merges with TAG to form TAG Heuer. 1986: Audemars Piguet introduces the first self winding tour billon. 1991: Franck Muller founded. 1999: Casio innovates with the first wristwatch with a built-in Global Positioning System (GPS).Uses of watches Wristwatches are often appreciated asjewelleryor ascollectibleworks of artrather than just as timepieces. Watches may be crafted to become water resistant. These watches are sometimes calledwatches when they are suitable forscuba divingorsaturation dives. One of the fastest growing segments of the Watch industry is the "Sport" watch. Made for both function and style these watches often contain extra features like compasses, altimeters, barometers, and thermometers. Some of the higher end sport watches will even have a heart rate monitor. All watches provide the time of day, giving at least the hour and minute, and usually the second. Most also provide the current date, and often the day of the week as well. However, many watches also provide a great deal of information beyond the basics of time and date. Some watches includealarms. Other elaborate and more expensive watches, both pocket and wrist models also incorporatestriking mechanismsorrepeaterfunctions, so that the wearer could learn the time by the sound emanating from the watch. This announcement or striking feature is an essential characteristic of true clocks and distinguishes such watches from ordinarytimepieces. This feature is available on most digital watches.

1.3 BRANDSBrands were originally developed as labels of ownership: name, term, design, and symbol. However, today it is what they do for people that matters much more, how they reflect and engage them, how they define their aspiration and enable them to do more. Powerful brands can drive success in competitive and financial markets, and indeed become the organization's most valuable assets.1.4 THE EMERGENCE OF BRANDSIn the field of marketing, brands originated in the nineteenth century with the advent of packaged goods. The first registered brand was the red triangle registered by Bass beer, as the British were the first to introduce a law for trade mark registration.Industrialization moved the production of household items, such as soap, from local communities to centralized factories. When shipping their items, the factories would brand their logotype insignia on the shipping barrels. These factories, generating mass-produced goods, needed to sell their products to a wider range of customers, to a customer base familiar only with local goods, and it turned out that a generic package of soap had difficulty competing with familiar, local products.The fortunes of many of that era's brands, such as Uncle Ben's rice and Kellogg's breakfast cereal, illustrate the problem. The packaged goods manufacturers needed to convince buyers that they could trust in the non-local, factory product. Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats, were the first American products to be branded to increase the customer's familiarity with the products.Around 1900, James Walter Thompson published a house advert explaining trademark advertising, in an early commercial description of what now is known as 'branding'. Soon, companies adopted slogans, mascots, and jingles that were heard on radio and seen in early television. By the 1940s, Mildred Pierce manufacturers recognized how customers were developing relationships with their brands in the social, psychological, and anthropological senses. From that, manufacturers quickly learned to associate other kinds of brand values, such as youthfulness, fun, and luxury, with their products. Thus began the practice of 'branding', wherein the customer buys the brand rather than the product.1.5 What Is Branding?

Branding is the foundation of marketing and is inseparable from business strategy. It is therefore more than putting a label on a fancy product. Nowadays, a corporation, law firm, country, university, museum, hospital, celebrity, and even you in your career can be considered as a brand. As branding is deeply anchored in psycho-sociology, it takes into account both tangible and intangible attributes, e.g., functional and emotional benefits. Therefore, those attributes compose the beliefs that the brand's audience recalls when they think about the brand in its context. The value of a brand resides, for the audience, in the promise that the product or service will deliver. Clearly, a brand can recall memories of a bad experience. The value for the audience then would be to avoid purchasing that brand. From the perspective of the brand's owner, the value of the brand often lies in the security of higher future earnings, but may also be assessed in terms of votes for a politician, career for an executive, foreign direct investment (FDI) for a country, etc. In conclusion, branding is the blend of art and science that manages associations between a brand and memories in the mind of the brand's audience. It involves focusing resources on selected tangible and intangible attributes to differentiate the brand in an attractive, meaningful and compelling way for the targeted audience.1.6 CHARACTERISTICS OF A GOOD BRAND NAME# Short, sweet and easily pronouncedThe ideal name for customers to remember, and for you to use to cut through the industry noise, is probably short and sweet and easily pronounced. This means it will have two or three syllables (or even one), and it will work on the phone or internet even if people have never seen or heard it before. If they have to be told how to spell it once, that is OK (and may even help with recall). But if they have to be told a second time, that is a problem. One of the sticky consonants (k, q, x, z) can help with recall. # Unique with in its industryYour name doesn't need to be weird or clunky, but it does need to not sound like all the rest of your direct competitors. HotJobs.com, BAJobs.com, Careers.com, CareerJunction.com, LocalJobs.com are all easily lost in the crowd. But Monster.com stands out dramatically - even though it does not describe what they do! In practice, it has become brand shorthand for job searches, just like Starbucks has become shorthand for coffee. # legally available and defensiveYour lawyers think this should be item one of course. Regardless, what is the point of starting any company or marketing campaign if you cannot have full rights in the name? Your best defence is always a magic - which only can be issued by the USPTO (or equivalent agency in other countries). If the USPTO won't issue a registration certificate because they judge it to be generic, then you have problem (2) above anyway. Common law trademark searches are also critically important.# Good alliteration, especially if a longer nameSometimes a longer name does have a place in marketing. After all, the most famous brand in the world, Coca Cola, is four syllables. But notice how smoothly it rolls off the tongue. Linguists will tell you it has good alliteration.

# Does not lend itself to abbreviationsIf you have a long descriptive name, people will abbreviate it quickly. OK, we know it worked for IBM, AT&T, CBS etc., but how many years and how many branding dollars do you have? For a small company, this means you quickly become YASI (Yet another Set of Initials) and drown in the initial bit bucket. At least make sure the trademark part (brand part) of your trade name is a name and not initials. E.g. Ford is the trademark for Ford Motor Car Company. Leave FMCC etc. to the legal documents only. But who or what are AMA, CCI, etc.?# Flexible and expandableToo many people try to describe their company rather than name it. Copyland, Copy data, Copy shop, Quick Copy all define what they do - and are barely distinguishable from one another. But Kinkos stands out dramatically and did not pigeonhole them into only copy services. Today, of course, they are FedEx Kinkos, and can offer a raft of services without needing to update their name, unlike Texas Instruments that doesn't even make instruments.# linguistically cleanWhat are the root origins of the name? How is it pronounced by a Spanish, Italian, Japanese, Portuguese or French native speaker? What does it mean in these languages? You need to support these languages just to do business in North America nowadays, especially in the populous areas of California, New York, Texas, Illinois, Florida and Canada.# will not age quicklyIs your name hip and topical? If you are in the fashion trend business this might be fine. But otherwise, be very careful of "in" words or expressions. They will be superseded sooner or later. They may also not play well across all demographics. Many markets have their own "industry-speak" and slang. The worst of these are in "geekdom"! Names with classical roots tend to endure more easily.

# Embraces company personalityTwo competitors, entering the same market at the same time with directly competing products, will pick different names because every company and management team has its own personality. This means the executives must be involved in the decision making process. Your agency can tell you if the name fits, not if you are comfortable with it.# Fits within companys brand portfolioThe company name, division names and product names are all part of your brand portfolio. Do these sounds like they all come from the same family? While this is a specific problem with merged companies, everyone's naming architecture needs to be properly managed to maximize your brand power and intellectual property portfolio.1.7 SOME FAMOUS BRANDS OF WATCHESThere are some big brands of wrist watches that are worth mentioning. They are:Titan, HMT, Maxima, Timex, Rado, TAG Heuer, Omega, Cartier, Rolex, Mont Blanc, etc.TITAN

Titan, a name that is synonymous with watches today. The company was established in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation. Titan was launched at a time when cheap watches were flooding the Indian market. It has grown to become the largest watch manufacturer in India and the sixth largest in the world. The company manufactures more than nine million watches every year, has a customer base of over 80 million, and accounts for 60 per cent of India's organised watch market.A Titan pretty much stands for reliability, durability and to a great extant style. The brand is not focused on a single segment either. Titan has launched its Titan Ultra Slim which is virtually invisible. With an incredibly slim movement of 1.15 mm, the Titan Ultra Slim is the slimmest watch in the universe, a mere 3.6 mm. and now Titan has launched its brand new watch Octane.HMT

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

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

RADO

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

TAG HEUER

TAG Heuer watches are recognizable for its authentic style a unique combination for performance, elegance and sportsmanship. Conventional and avant grade materials are used with intelligence to create simple yet distinctive lines of TAG Heuer watches. TAG Heuer watches are also known for their firmly modern design.The list can go endless. From spilt-second chronographs to moon phase calendars, musical chimes to minute repeaters, ultra slim cases to stylish power- reserve indicators, theres virtually no end to the complexities watchmakers can crowd onto a dial.The expensive watches are seen to be worn by prestigious people and nowadays it is also found common in some rich and upper middle class families. There can be an array to the list of expensive watches.

CITIZEN

Citizen Watches were launched in 1924 in Japan. The founders wanted a watch line name which would make citizen close to the hearts of people all around and therefore, they adopted the name Citizen Watch Company. In 1986, the Citizen Watch Company got the title of worlds largest watchmaker. Citizen is at top in terms of technological achievement in watches category. Citizen has come up with worlds slimmest LCD watch, with worlds first voice recognition watch and also with the worlds first professional dive watch with an electronic depth sensor.ROLEX

Rolex SA is a Swiss manufacturer of high class luxury wrist watches. Rolex watch have a snob value. Possessing a Rolex watch is a sign of status symbol. Rolex produces 2000 watches per day, one of the single largest watch brand. Tudor brand name was introduced by founder Hans Wildorf in 1946 and expensive watches all around the world are sold under Tudor by Rolex. Rolex has 3 watch lines, namely, Oyster perpetual, Professional and Cellini. Some of the modern models are Daytona, GMT master II, Oyster Quartz, and Yatch Master..GUCCI

Gucci Watches Brand Gucci was founded by Gucci in Florence in 1921.It is one of the worlds leading luxury brand. It manufactures designs and distributes high quality luxury goods. It manufactures ready to wear, handbags, fragrances, luggage items and shoes. Gucci Group watches is located in cortaillod, Switzerland Gucci assembles and distributes in all the major markets around the world. Gucci brand timepieces combine Swiss craftsmanship with latest designer aesthetics .Gucci is the biggest selling Italian brand

1.8 NEED OF THE STUDYBranded watches as fashion accessory is still in small portion, but is growing at a tremendous pace. The project has been undertaken to study the consumer buying behaviour towards Indian and Foreign branded watches and what all factors do they consider while purchasing watches.OBJECTIVES1.9 OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVES To study the consumer buying behaviour towards Indian and foreign branded watches SECONDARY OBJECTIVES To study consumers preferences towards Foreign and Indian branded watches. To determine the factors influencing the buying behaviour of consumers towards wrist watches. To study gender wise consumer purchase behaviour towards branded wrist watches.

CHAPTER-2LITERARY REVIEW

REVIEW OF LITRATURE2.1 DEFINITION: - A literature review is an account of what has been published on a topic by accredited scholars and researchers. It is part of the introduction to an essay, research report, or thesis. 2.2 Literature review must do these things Be organized around and related directly to the thesis or research question one is developing. Synthesize results into a summary of what is and is not known. Identify areas of controversy in the literature. Formulate questions that need further research.

2.3 REVIEWSBearden and Etzel (1990) shed light on the ability of reference groups to affect the importance of the brand image among types of goods. In their study, goods were divided into luxuries and necessities and social group influences were hypothesized to affect brand decision through the locus of where a product was used in private or public. Private goods are items such as mattresses that are not viewed by others and are, thus, less susceptible to social influence; where public goods such as televisions may be very susceptible to social influences. Consequently, brands are more important for public goods than private goods. Srivastava and Sengupta (2004) conducted a survey of 200 consumers A peep into mindset of consumers: - A study on mens personal products and found that:- Habit is the most important factor to influence purchase decision of customers. Only social groups had some effect over purchase decision. Advertisements didnt much effect in this respect. Influence of cheap price as well as sales promotion technique is not much significant.

Verma (2005) in her survey Brand preferences of selected Skin Care brands:- A case study of Ludhiana city made the following conclusions:- As regards awareness level of different brands of skin care products, maximum number of respondents is aware of Lakme brand, followed by Oriflame, Revlon, LOreal, and least are aware of Aviance. As regards consistency and change in brand of skin care products is concerned, 54% Respondents said they are consistent with brand they use, mainly because they are habitual with brand and they get value out of brand they use, while 46% said they like to change brands. Regarding source of information of skin care products is concerned, television was found to be main source of information. Regarding influence of respondents, majority said they were influenced by peers and friends. Regarding attributes considered while purchasing skin care products, maximum importance was given to price and quality. Ingredients and brand are also important to them. Packaging was the least important attribute.Chauhan (2008) found that in todays era of cut-throat competition, differentiating brands on the basis of certain Unique selling proposition (USP) cannot suffice; rather, building a long term relationship with the customers by involving them with the brands is more important.

CHAPTER - 3RESEARCH METHODOLOGY

RESEARCH METHODOLGY4.1 NATURE OF RESEARCH / RESEARCH DESIGNA research design specifies the methods & procedures for conducting a particular study. This is an Exploratory Research.4.2 DATA COLLECTIONThe data to be collected is the composition of the primary data and secondary data. Primary data is collected through a structured questionnaire containing questions related to awareness, preferences and factors affecting buying behaviour in Ludhiana. Secondary data is collected from various reports, magazines, and websites.4.3 POPULATION / UNIVERSEKeeping in view the time and resources constraints the population was restricted in following areas: All the male and females who are residents of Ludhiana.4.4 SAMPLING PLANSample unit male and female who are resident of Ludhiana.Sample size consisted of 100 respondents. 50 males and 50 femalesSample technique convenience sampling is used to collect the sample.4.5 STATISTICAL TOOLSFor data Analysis & Interpretation Simple tabulation of data using tally marks. Calculating the percentage of the responses. Formula used = (name of responses / total responses) * 100 Graphical analysis by means of pie charts bar graphs etc.4.6 LIMITATIONS OF THE STUDY The size of sample is restricted to 100 respondents only. The results of the study are based upon the survey of the people living in secondary data about the wrist watch market. Some of the respondents were not willing to give information, so some of the may be biased. Data

CHAPTER - 4DATA ANALYSIS &INTERPRETATION

DATA ANALYSIS AND INTERPRRTATI Q-1 Are you aware about various Foreign Brands of watches available in the market?

OptionsNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

YES474087

NO031013

The above table chart shows that out of 100 people only 13% people are aware of Indian brands. 87% people are aware about foreign brands of watches. So we can conclude that people prefer buying imported brands rather than local.

Q-2 which type of watches you prefer to buy?

PreferencesMale respondentsFemale respondentsTotal respondents

Indian brands090312

Foreign brands414788

The above table and chart shows out of 88%: 41are male and 47 are female respondents preferring foreign brands. Only 12% buys Indian brand watches.

Q-3 what price would you like to pay to buy a watch?

PRICENo. of male respondentsNo. of female respondentsTotal no. Of respondents

Rs 2000-5000131528

Rs5000-1000024

2347

Rs10000 and above131225

The chart shows consumer buy watches in range of 5,000-10,000 very less buy watches above 10,000.As far as male: female ratios are concerned, both have almost the same opinions.

Q-4 how often do you go out to buy a watch)?TimeNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

Once a year171734

After 2 years20

1939

After 3 years131427

The above chart shows that out of 34 respondents who say they buy a watch once a year 17 are males and 17 females. 39% (highest) say that they buy watches after 2 years. Here also it was found that male and female are equal in proportion for the opinion expressed by them.

Q- 5 Do you ask for details before buying a watch?

OPTIONSNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

ALWAYS443171

SOMETIMES05

1116

NEVER010809

The above table and chart shows that maximum number i.e. 71% of respondents asks for the details. Only 09% respondents never ask for details out of that only 01% is male. So therefore people who do not ask for details should be aware and should ask for details.

Q-6 Do u feel buying a watch is a status symbol?OPTIONSNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

ALWAYS171734

SOMETIMES11

1526

MOST OF THE TIME060612

NEVER161228

34% respondents feel that it is a status symbol. But those who never find buying an expensive watch is a status symbol those who never treat it as a symbol of status might prefer some other features of watches.

Q-7 Do you ask for Certification/Warranty for the watch you purchase? OPTIONSNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

ALWAYS462975

SOMETIMES02

0810


NEVER000202

The above chart shows that out of 75% respondents who ask for certification 46 are males and 29 females. Those who sometimes or never ask must ask for certification.

Q-8 Does price of matter while buying a watch?


ALWAYS281846

SOMETIMES121628


NEVER040408

The above chart shows that for 46% of respondents price always matter out of which 28 are males and 18 are female. Only for 8% of respondents price do not matter at all.

Q- 9 Does brand name matter in buying a watch?

OPTIONSMale respondentsFemale respondentsTotal no. Of respondents

ALWAYS292655

SOMETIMES121123


NEVER020305

For 55% of respondents brand matters a lot and also the male: female ratios are almost same.Only for 5% respondents brand never matters.

Q- 10 Do you emphasis much on design (style) of a watch while buying? OPTIONSNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

ALWAYS383169

SOMETIMES06

0915


NEVER010405

69% respondents do emphasis on style only 15% and 05% respectively sometimes or never emphasis on style.

Q-11 While buying a watch do you look for after sales services?


ALWAYS362258

SOMETIMES01

1617


NEVER020608

The above table and chart shows that 58% of respondents do look for after sales service. Though 17% sometimes or most of the time looks for after sales service. Only 8% respondents never look for after sales services.

Q-12 Do you always buy from same dealer?OPTIONSNo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

ALWAYS120820

SOMETIMES16

1127


NEVER051520

The above chart shows that percentage of respondents who always buy from same dealer and who never buy from same dealer is same i.e. 20% 33% respondents most of the time buy from the same dealer. Also number of male buying from same dealer is than females.

Q-13 Do you feel confident while buying expensive watches all alone?


ALWAYS131023

SOMETIMES12

1123


NEVER122032

From the above chart it is easy to conclude that maximum (32%) respondents never feel confident buying an expensive watch alone. out of that 20 are females. Rest % is almost equal for always, sometimes and never.

Q- 14 for gifting purpose what would you prefer?

Preferences No. Of male respondentsNo. Of female respondentsTotal no. Of respondents

Indian brands061016

Foreign brands112031

EITHER332053

From the above chart we can conclude that 53% respondents gift either brand of watches.Out of that 33 are male who gift either brands and 20 are females. But 31% prefer gifting foreign brand of watches. Of that 20 are females.

Q- 15 Rank the following attributes which you consider while purchasing a watch.

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

AttributesRank

Price1

Certification / Warranty4

Design / Fashion2

Discount5

After sale service6

Celebrity Endorsement8

Return / Exchange policy7

Brand Image3

Price is the most preferred attribute and celebrity is the least preferred attribute to which respondents have given much preference.

Q- 16 Your purchase intent is influenced by?INFLUENCENo. Of male respondentsNo. Of female respondentsTotal no. Of respondents

SELF292756

PARENTS03

1114

SPOUSE000606

COLLECTIVE131124

56% are influenced by their own decision. No male is influenced by spouses decision and only 6 females are influenced by spouses decision. 24% respondents collectively decide.

Q- 17 Would you like to change your watch if you come to know that one of your Friend or relative has the same watch?

Options No. of male respondentsNo. of female respondentsTotal no. of respondents

YES061925

NO443175

Frome the above chart its easy to conclude that 75% respondents will not change their watch if someone else wears the same watch and those who will change are 25% of those 19 are females.

CHAPTER 5 FINDINGS AND SUGGESTIONS

FINDINGS Very less only 13% people are aware of different Indian brands of watches available in the market. Most of the people are aware of different foreign brands of watches available in the market.87% people are aware of foreign brands of watches. Most of the male and female prefer to buy foreign branded watches. Most of the people prefer to buy watches after 2 years. Very few buy watches once a year. Most of the people prefer to buy a watch for regular wear. Most of the people ask for details of the watch before buying it. 28% of people do not take watch as a status symbol. They may look for some other features. Most of the people feel confident while purchasing a watch alone. Most of the people ask for certification / warranty for purchasing a watch. But few males and more of females do not ask for certification Most of the people like to give Indian branded watch for gifting purpose. Most of the people consider their own decision while purchasing a watch. Most of the people would not like to change their watch if they come to know that their friend / relative have same watch. Most of the females do not give much preference to details

SUGGESTIONS People should be aware of Indian as well as foreign brands of watches. People who do not ask for details should ask before buying a watch. So that dealer cannot cheat them. Most of the female do not ask for certification. They should be aware of the fact that asking for certification is necessary. People should not change watch just because someone else is wearing the same.

CHAPTER 6SUMMARY & CONCLUSION

SUMMARYA watch is defined as a spring driven timekeeper, small enough to carry on a person. Generally, this group would contain early watches worn on a chain around the neck, pocket watches, and then wristwatches. Most inexpensive and medium-priced watches used mainly for timekeeping are electronic watches with quartz movements. Expensive,collectiblewatches valued more for theirworkmanshipandaesthetic appeal than for simple timekeeping, often have purely mechanical movements and are powered by springs, even though mechanical movements are less accurate than more affordable quartz movements.

The objectives of the study is to study the consumer buying behaviour towards Indian and foreign branded watches. To study consumers preferences towards Foreign and Indian branded watches. To determine the factors influencing the buying behaviour of consumers towards wrist watches. To study gender wise consumer purchase behaviour towards branded wrist watches.Very less only 13% people are aware of different Indian brands of watches available in the market. Most of the people are aware of different foreign brands of watches available in the market.87% people are aware of foreign brands of watches. Most of the male and female prefer to buy foreign branded watches. Most of the people prefer to buy watches after 2 years. Very few buy watches once a year. Most of the people prefer to buy a watch for regular wear. Most of the people ask for details of the watch before buying it. 28% of people do not take watch as a status symbol. They may look for some other features. Most of the people feel confident while purchasing a watch alone. Most of the people ask for certification / warranty for purchasing a watch. But few males and more of females do not ask for certification Most of the people like to give Indian branded watch for gifting purpose. Most of the people consider their own decision while purchasing a watch. Most of the people would not like to change their watch if they come to know that their friend / relative have same watch. Most of the females do not give much preference to details

CONCLUSION People should be aware of Indian as well as foreign brands of watches. People who do not ask for details should ask before buying a watch. So that dealer cannot cheat them. Most of the female do not ask for certification. They should be aware of the fact that asking for certification is necessary. People should not change watch just because someone else is wearing the same.

BIBLIOGRAPHY

BIBLIOGRAPHY Beraden William O. and Michael J. Etzel, Reference Group Influence on Product and Brand Purchase Decisions, Journal of Consumer Research, Vol. 3, Issue 1, 9th August, 1990, Pg (30-38). Verma Pallavi, Brand preference of selected Skin Care brands: - A case study in Ludhiana city, MBA Thesis, 2005, Punjab College of Technical Education, Ludhiana. Vinitha VU, Building Brand Loyalty, Advertising Express, April, 2008, Pg (11-14) http://en.wikipedia.org/wiki/Brand http://en.wikipedia.org/wiki/Rado_(watch) http://en.wikipedia.org/wiki/TAG_Heuer http://www.brandchannel.com/features_effect.asp?pf_id=183

http://www.brighternaming.com/Top 10 Naming Factors.html http://www.clocksonly.com/watch_history.html http://www.galawatches.com/Rado.aspx http://www.indiangiftsportal.com/india-shopping/shoppers-hang-out/designer-luxury/time-pieces/maxima-wrist-watches/

http://www.maximawatches.com/about_us.htm http://www.paralumun.com/watchhistory.htm http://www.secondtimeround.com/history.html http://www.tata.com/titan/ http://www.timexindia.com/pair_home.asp

http://www.timexindia.com/timexwatches.asp http://www.titanworld.com/titan/stores/watches/watcheshome.asp?CatalogId=titan http://www.utoronto.ca/writing/litrev.html http://www.webindia.com/hmti/watches_gallery.html

QUESTIONNAIRE

QUESTIONNAIRE

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

PERSONAL DETAILS:Name: Age: Marital Status: Occupation: Sex: Male: Female:

Q-1Are you aware about various Foreign Brands of watches available in the market?YES NO If yes, which is the most preferred brand?

Q-2which type of watches you prefer to buy?a) Indian branded watches b) Foreign branded watches Q-3which price would you prefers to buy a watch?a) ` 2,000 to ` 5,000b) ` 5,000 to ` 10,000c) More than ` 10,000

Q-4how often do you go out to buy a watch? a) Once in a year b) After 2 years c) After3 years

Q-5Do you ask for details before buying a watch?a) Always b) Sometimes c) Never

Q-6Do you feel buying a watch is a status symbol?a) Always b) Sometimes c) Most of the time d) Never

Q-7Do you ask for Certification/Warranty for the watch you purchases?a) Always b) Sometimes c) Most of the time d) Never Q-8does price of matter while buying a watch?a) Always b) Sometimes c) Most of the time d) Never

Q- 9 do brand name matter in buying a watch?a) Always b) Sometimes c) Most of the time d) Never

Q-10Do you emphasis much on design (style) of a watch while buying?a) Always b) Sometimes c) Most of the time d) Never

Q-11while buying a watch do you look for after sales services?a) Always b) Sometimes c) Most of the time d) Never

Q-12Do you always buy from same dealer?a) Always b) Sometimes c) Most of the time d) Never

Q-13Do you feel confident while buying expensive watches all alone?a) Always b) Sometimes c) Most of the time d) Never

Q-14 for gifting purpose what would you prefer?a) Indian branded watches only b) Foreign branded watches onlyc) Either

Q-15Rank the following attributes which you consider while purchasing a watch.Rank them as 1 to 8 (1 for most preferred & 8 for least preferred)a) Price b) Certification/Warranty c) Designing/Finishing d) Discount e) After sale services f) Celebrity endorsement g) Return/Exchange policy h) Brand Image

Q-16your purchase intent is influenced by?a) Selfb) Parents c) Spouse (if married) d) Collective

Q-17would you like to change your watch if you come to know that one of your Friend or relative has the same watch? YES NO 54 | Page

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