Consumer Attitude towards Titan Watches A Case Study of Ruby Watch Co, Shimoga Chapter 1 INTRODUCTION Introduction Objectives of the study Scope of the study Methodology Limitations Chapter schemes Chapter 2 PROFILE OF TITAN INDUSTRIES Historical background of titan industries Objectives of titan industries Management of titan industry’s Vision and values Manufacturing locations Achievements Chapter 3 PROFILE OF TITAN WATCHES Introduction Titan brand watches 1
Transcript
Consumer Attitude towards Titan Watches
A Case Study of Ruby Watch Co, Shimoga
Chapter 1INTRODUCTION
Introduction Objectives of the study Scope of the study Methodology Limitations Chapter schemes
Chapter 2PROFILE OF TITAN INDUSTRIES
Historical background of titan industries Objectives of titan industries Management of titan industry’s Vision and values Manufacturing locations Achievements
Chapter 3PROFILE OF TITAN WATCHES
Introduction Titan brand watches Varities of titan watches Price range of titan watches Strategic priorities for carring watches Tips for caring watches
Chapter 4FIRM PROFILEChapter 5SURVEY ANALYSISChapter 6SUGGESTIONS AND CONCLUSIONAnnexureQuestionnaireBibliography
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Table and Graphs
TITLE PG.NO
1: SHOWING GENDER WISE CLASSIFICATION OF RESPONDENTS 49
2: SHOWING CLASSIFICATION OF RESPONDENTS ON THE BASIS OF AGE GROUP 50
3: SHOWING CLASSIFICATION OF RESPONDENTS BASED ON OCCUPATION 51
4: CLASSIFICATION OF RESPONDENTS ON THE BASIS OF MONHTLY INCOME OF FAMILY
52
5: CLASSIFICATION OF RESPONDENTS BASED ON QUALIFICATION 53
6: SHOWING CLASSIFICATION OF RESPONDNETS ON THE BRAND OF WATCHES OWNED
54
7: CLASSIFICATION OF RESPONDNETS BASED ON THE SOURCE OF INFORMATION ABOUT TITAN WATCHES
55
8: CLASSIFICATION OF RESPONDENTS ON THE BASIS OF PLAN TO CHANGE WATCH
56
9: CLASSIFICATION OF RESPONDENTS ON THE BASIS OF WISH PRICE RANGE 57
10: CLASSIFICATION OF RESPONDENTS BASED ON THE OPINION ABOUT PRICE OF TITAN WATCHES
58
11: CLASSIFICATION OF RESPONDENTS ON MODE OF OWNING WATCH 59
12: CLASSIFICATION OF THE RESPONDENTS BASED ON THE OCCASION OF WATCH GIFT
60
13: CLASSIFICATION OF THE RESPONDENTS BASED ON THE OCCASION OF WATCH BOUGHT.
61
14: SHOWING THE TABLE OF RESPONDENT ON THE BASIS OF OPINION ABOU THE PERFORMANCE OF TITAN WATCH
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Chapter 1
INTRODUCTION
Introduction
Objectives of the study
Scope of the study
Methodology
Limitations
Chapter schemes
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INTRODUCTION:
Today human begins work with the time. The various activities to be
performed on generally prescribed on the basis of time factor. Thus time in
consider to be a fresher factor in every walk of life. Now-a-days we find no
person without a wrist watch and a home without a clock. Thus the watches
have become almost a necessity for human begins, to whichever economic
class they belong.
In the 18th and 19th century watch industry has flourished in western
world only, specifically Switzerland but the second half of the 20 th century
has seen India emerging an important manufacturer of watches. Titan
Industries a TATA group company as created history in the Indian watch
industry by manufacturing and marketing different brands of watches not
only in Indian market but also in the international market. This project work
titled “MARKETING OF TITAN WATCHES” is effort to study the market
response to Titan brand of watches.
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OBJECTIVES OF THE STUDY:
The following are the objectives of the study towards “Marketing of
Titan Watches” in Shimoga City.
To study consumer attitude towards “Titan range of watches”.
To know the market share of Titan watches.
To know the extend of satisfaction among Titan watch users.
To find the extent of brand loyalty among consumers.
To study the factor affecting the buyers behavior.
To study consumer attitude towards price policies of titan watches.
To study the consumer attitude towards company’s promotional
activities.
To study buyer reaction to after sales service.
To study the marketing strategy adopted in the dealers.
To analyze statistically responded opinion.
To determine consumer demographics.
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SCOPE OF THE STUDY:
Study covers the awareness of the consumer towards Titan watches.
Study covers the market share of Titan watches.
Study covers the reasons of buying the Titan watches.
Study covers the consumer attitude towards the price of the Titan
watches.
Study covers the various marketing channels of Titan watches.
Study covers the history of Titan watches industries.
Study covers the various problems faced by the company and the
dealer.
Study is restricted to Shimoga City only.
RESEARCH METHODOLOGY:
In the study both primary and secondary data has been used for the
purpose of collecting data.
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The primary data for the project have been collected through the
consumer survey and discussions were carried out with the consumer
personally.
The secondary data has been collected from various published
literature (like text books, magazines, news papers) and internet. The
information regarding the organization has been collected from report and
record provided by the dealers of Titan watches.
Consumer survey:
In order to collect the primary data the consumer’s survey was
undertaken. The sample consumers were selected on stratified random
sampling method. A structured question a was used to collect information
from the sample consumer contacted. Even personal interviews were head
with the respondents to gather unbiased information. Observation method
also made used to understand the real feelings of the respondents so that
study become more realistic in nature.
LIMITATIONS:
The study has been restricted to the users of Titan watches only.
The data and opinion collected are assumed to be objective.
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The survey is restricted to 100 respondents.
Lack of consumer awareness about different watches.
Time constraint.
The sample size is supposed to representative of the views of the
consumers.
The study has been restricted to Shimoga city only.
CHAPTER SCHEMES:
Chapter I – introduction, has introduced the importance of watches in
present day life of every person. Again the project work was introduced with
objectives of the study, scope, limitation, research methodology, to be
adopted and the concepts to be covered in the subsequent chapters.
Chapter II – namely profile of Titan industries Ltd., an attempt will be
made to trace the historical back ground of the company, its objectives,
management vision and values, manufacturing location, Titan brand
watches, financial performance and achievement of the company.
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Chapter III - Profile of Titan watches is the third chapter will provide
details of the titan brand watches and models manufactured and marketed by
Titan industries Ltd., price range of watches, strategic priorities, and tips for
caring watches.
Chapter IV – deals with the profile of Ruby watch, who are the authorized
dealer of Titan watches in Shimoga City.
Chapter V – Namely survey analysis will be dealt in detail. An attempt will
be made to study the consumer behavior in relation to Titan watches from
different view points.
Chapter VI – suggestions forwarded by the consumer, will be highlighted
along with concluding remarks.
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Chapter 2
PROFILE OF TITAN INDUSTRIES
HISTORICAL BACKGROUND OF TITAN INDUSTRIES
OBJECTIVES OF TITAN INDUSTRIES
MANAGEMENT OF TITAN INDUSTRY’S
VISION AND VALUES
MANUFACTURING LOCATIONS
ACHIEVEMENTS
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PROFILE OF TITAN INDUSTRIES
HISTORICAL BACKGROUND OF TITAN INDUSTRIES:
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Titan Industries is India's leading manufacturer of watches and
jewellery and the world's sixth largest manufacturer brand of watches. Titan
and Tanishq are also the most admired brands in their categories,
Established in 1984 as a joint venture between the Tata Group and the
Tamilnadu Industrial Development Corporation, the company brought about
a paradigm shift in the Indian watch market, offering quartz technology with
international styling, manufactured in a state-of-the-art factory at Hosur,
Tamilnadu. In 1995, the company diversified into jewellery under the brand
- Tanishq. The company employs 3,000 people. Leveraging its
understanding of different segments in the watch market, the company
launched a second independent watch brand-Sonata, as a value brand to
those seeking to buy functionally styled watches at affordable prices. It also
entered the segment of premium fashion watches by acquiring a license for
global brands such as Tommy Hilfiger while it focused on the youth with its
third brand - Fastrack. Titan has now diversified into fashion Eyewear by
launching Fastrack Eye-Gear sunglasses. It launched its first Swiss Made
watch brands - Xylys in 2006. Titan also leveraged its manufacturing
competencies and branched into Precision engineering Products and
Machine Building from 2003.
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OBJECTIVES OF TITAN INDUSTRIES:
Following are the objectives of Titan Industries: -
To design the watches as per the needs and taste of customer.
To market the watches and to get a lion’s share in the market for
watches.
To manufacture different varieties of wrist watches.
To ably discharge social responsibilities of business.
To earn reasonable profits to reward the investors for their capital
contribution.
To improve the quality of life of the consumer by providing watches
relevant to the time watches.
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MANAGEMENT OF TITAN INDUSTRY’S:
The company is managed by a board consisting of experts and
professionals in different fields. The present board of directors consists of
the following personalities:-
BOARD OF DIRECTORS:
Chairman : Shaktikanta Das
Chairman : D. Rajendran
Managing Directors : Bhaskar Bhat
Farrokh Kavarana
Ishaat Hussain
N.N. Tata
S. Ramasundram
S. Susai
T.S. Surendranath
T.K. Balaji
C.G. Krishnadas Nair
A.C. Mukherji
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VISION AND VALUES:
Vision:
To be innovative world class, contemporary and build India’s most
desirable brands.
Beliefs and values:
Customer focus: We are passionate about understanding customer needs
and expectations. Delighting our customer is therefore a natural outcome.
Creativity and innovation: We are an ideas company creatively and
innovations are our life blood.
Performance culture and team work: We dare to dream big and work
together to realize it high performance is a way of life with us.
Quality: We will attain and maintain the excellence in all that we do.
Wealth creation: We ensure creation of values in all that we do for our
stake holders.
Respect and care for the individual: We value every Titanian and strive
to fulfill his/her needs and aspirations.
Corporate citizenship: We care about environment and the community.
We live in and will invest a part of our resources in improving them.
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MANUFACTURING LOCATIONS:
Titan's state-of-the-art watch and jewellery manufacturing plants are
located in Hosur in the southern state of Tamil Nadu, spread over 55,000
square meters of built-up space. Titan employs about 3000 highly skilled
personnel.
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This watch manufacturing facility was set up in 1987, with technical
know-how from Europe and Japan. Over the years, the Company has
established highly integrated manufacturing facilities and has grown to
become the sixth largest watch manufacturer brand In the world. The
Company manufacturers watch movements, watchcases in steel and brass,
and bracelets in solid as well as sheet steel. The manufacturing processes
include micro precision operations (manufacturing of -components and sub
assemblies) Hot & cold forging, stamping, injection molding and tool
making. The product development cycle is facilitated by state-of -the-art
CAD/CAM technology that enables seamless Integration from aesthetic
styling and 3D and solid modeling to engineering design, tool design, tool
making and prototype making. Our R&D initiatives, which have been
recognized by the DSIR, have earned several accolades for its design efforts.
This Includes a national award from the DSIR from the Design and
Development of a Slim Movement and more recently awards in recognition
of excellence in Electronics for two successive years from the Ministry of
information Technology. The Company has been recently short-listed by
CSIR for funding a key R&D project and has been certified under the ISO
9001 Quality System Standards. In addition, Titan also has manufacturing
facilities in Dehradun (Northern India) and in Goa.
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TITAN BRAND WATCHES:
The company manufactures over 8 million watches per annum and has
a customer base of over 75 million. It has manufacturing and assembly
operations at Hosur, Dehradun, Roorkee and Himachal Pradesh and an ECB
plant in Goa. Its main products are:
Watches:
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The company currently manufactures three main watch brands viz.
Titan for the premium segment, Fastrack - focused on the youth and trendy
fashion space, while Sonata is for the below US dollar 25 category and is
India's largest selling watch brand. The Titan brand architecture comprises
several sub-brands, each of which is a leader in its segment. Notable among
them are :Titan Edge - The world's slimmest watch which stands for the
philosophy of "less Is more"; Titan Raga – the feminine and sensuous
accessory for today's woman, Nebula - Crafted In solid gold and precious
stones and several other collections like Wall Street, Regalia and Gold &
Steel, all of which form a part of the Titan wardrobe. The company has
launched its first Swiss Made watch - Xylys for the hi-end connoisseur and
new age achiever. It also markets Tommy Hilfiger watches under a licensing
arrangement. Today, the Titan portfolio has over 60% of the domestic
market share in the organized watch market. The company has 200 exclusive
showrooms christened 'World of Titan', making it amongst the largest chains
In its category. Titan watches are sold through over 10,000 outlets in over
2,300 cities and internationally in over 30 countries, primarily in the Middle-
East and Asia Pacific. Its after-sales-service is itself a benchmarked
operation with a network of 680 service centers and amongst the world's
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fastest turnaround times. The company has a world-class design studio both
for watches and Jewellery.
FINANICAL PERFORMANCE OF TITAN INDUSTRIES:
Titan industries has achieved substantial progress in its activities.
Since inception, the company is able to get higher share in the watch market.
The sales of watches and jewellary are increasing year after year. Its net
sales of watches which should at Rs. 568.44 crores in 2008-09 went upto Rs.
653.62 crores in 2009-10. Profits from watches has also increased from
48.41 crores in 2008-09 to Rs. 83.26 crores in 2009-10. It implies the
company is achieving growth at a higher rate from year to year. Financial
results of the company for the years 2008-09 and 2009-10 have been
appended.
Financial results for the year 31st March 2010
Balance Sheet
Profit and Loss account.
Annual result.
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Balance sheet
Mar ' 10 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06
Sources of funds
Owner's fund
Equity share capital 44.39 44.39 44.39 44.39 42.28
Other income 2.43 2.73 2.09Stock adjustment -72.58 -87.91 -34.67Raw material 981.62 750.30 593.47Power and fuel - - -Employee expenses 109.13 95.73 84.98Excise 41.19 54.71 63.64Admin and selling expenses 101.31 - -Research and development expenses
As we see, there is many fluctuation in the total sales because of the
market that changes in Shimoga. Accounting to Mr. ANIL one of the
Brother. In the firm “In Shimoga Agriculture is the main income and the
firm has lot of village customers. So it depends upon the yield of particular
crop in that particular year and also depend on the climate and there factors
in the particular year. The firm sells only branded company watches and it
give guarantee to the particular product it sells.
Capital Structure:
The firm is one of the oldest shop in the field of watches. It started in
1986 with capital of Rs. 1,50,000 and it also renovated the shop with latest
lighting and latest window display. Recently and now the investment has
reached to Rs. 4,00,000
Problems:
Too much of problems is not faced by the firm as it is one of the old
firm. From starting till now it is giving good services to the customers. And
here the product prices will be fixed by the company so the job of the firm is
just to sell the branding watches and to give the good services. No other
factor will influence the profit of the firm. Because the firm sell the product
on the basis of commission.
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Therefore the profit of the sales depends upon total sales made by the
firm. If the firm sells more products the firm will get more profit and vice
verse.
OBJECTIVES OF THE FIRM:
The objectives of the firm may be summarized as under –
To provide the customer highest satisfaction by selling Tata products namely Titan watches at the reasonable prices.
To achieve a lion’s shared in the watch market of Shimoga. To earn reputation for the firm. To make reasonable profits on the capital employed in the firm. To render finest services to the customer so has to win these confidence
and loyalty.
PRODUCTS MARKETED BY THE FIRM:
Ruby Co is the authorized dealer for Titan watches of Titan industries.
Titan watches is manufactured and assembled by Titan Industries for the
premium market. The firm sells widest varieties of Titan watches to its
customers.
Besides the marketing of Titan watches the firm also deals in fast-
track brand watches of Titan industries. Again it markets Timex watches,
Citizen Watches and Sonata brand watches. The firm also deals in sun
glasses, Fancy alarm time pieces, Fancy clocks, and Ajantha and Samay wall
clocks, Calculators of different types, Battery pack ups and Reliance cell
phones.
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Chapter 5
DATA ANALYSIS AND INTERPRETATION
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INTRODUCTION:
Consumer survey is necessary in any form of marketing research
because consumer is the ‘king’ in the market and his behavior changes day
by day. Selection of products by the consumer reflects the faith in the
products. The buyer’s behavior changes according to their age, income, sex
and other factors. Buyer’s purchasing always depends on the quality and
price. The study of consumer satisfaction is necessary to know the opinion
of different consumers to implement the most effective marketing policy of
the firm.
To conduct the consumer survey, questionnaire method was used.
Questionnaire is the most common research instrument. A questionnaire is a
set of questions with or without space for recording answer. The question
can secure relevant facts or opinions from informed and interested
respondents included in the sample survey.
In the following subsequent section, the data obtained from the
respondent are analyzed statistically. A convenient sampling technique was
made use for this survey and the number of respondents chosen was 100.
DEMOGRAPHIC ANALYSIS:
The demographic factors pertaining to consumers are mainly age,
education, occupation and income.
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Table-1: Showing gender wise classification of respondents
Sex No. of respondents Percentage
Male 80 80
Female 20 20
TOTAL 100 100
Interpretation:
As per the table, of the respondents 80% are male and 20% are female.
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Table – 2: Showing classification of respondents on the basis of age
group
Age group (in years) No. of respondents Percentage
10 – 20 years 20 20
20-30 years 60 60
30-40 years 10 10
Above 40 years 10 10
Total 100 100
Interpretation:
The above table indicates that majority of the respondents (60%)
belongs to the age group of 20 to 30 years, 20% belong to age group of 10 to
20 years and 10% each belongs to the age groups of 30 to 40 years and
above 40 years.
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Table-3: Showing classification of respondents based on occupation
Occupation No. of respondents Percentage
Student 60 60
Businessmen / Professional 18 18
Government employee 8 8
Others 14 14
Total 100 100
Interpretation: The above table reveals the occupation of the respondents.
Out of the total respondent 60% are student, 18% are businessmen/
professionals, 8% are government employees and remaining 14% are other
(like housewives, retired people etc.)
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TABLE-4: CLASSIFICATION OF RESPONDENTS ON THE BASIS OF MONHTLY INCOME OF FAMILY
Monthly income (in Rs.) No.of respondents
Percentage
Below 5000 40 40
5000 – 10000 14 14
10000 – 15000 36 36
Above 15000 10 10
Total 100 100
This table classifies the respondents based on monthly income. Of the respondents 40% belong to the income group of below Rs. 5000, 36% to the income group of Rs. 10000 to Rs. 15000, 14% to the income group of Rs.5000 to Rs. 10000 and 10% to above Rs. 15000 group.
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TABLE – 5: CLASSIFICATION OF RESPONDENTS BASED ON QUALIFICATION
Qualification No. of respondents
Percentage
S.S.L.C. 10 10
Graduate 60 60
Post-graduate 4 4
Others 26 26
Total 100 100
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From the above table it can be seen that of the respondents, 10% have studied up to S.S.L.C., 60% are graduates, 4% are post graduate and remaining 26% are others (like P.U.C., Engineering).
TABLE – 6: SHOWING CLASSIFICATION OF RESPONDNETS ON THE BRAND OF WATCHES OWNED
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Brand of watch No. of respondents
Percentage
Titan 40 40
Timex 24 24
Sonata 16 16
Fastrack 6 6
Others 14 14
Total 100 100
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The table shows that 40% of respondents owned Titan brand watches, 24% Timex brand of watches, 16% Sonata brand of watches, 6% Fast track brand of watches and remaining 14% owned other brand like HMT, Citizen, and Maxima etc.
TABLE – 7: CLASSIFICATION OF RESPONDNETS BASED ON THE SOURCE OF INFORMATION ABOUT TITAN WATCHES
Source of information No. of respondents
Percentage
Advertisement 14 35
Relatives 14 35
Friends 12 30
Total 40 40
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The above table indicates the sources of information about Titan
watches. Of the 40 respondents, 35% each came to know about the Titan
brand of watches through advertisement and relatives and 30% through their
friends.
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TABLE-8: CLASSIFICATION OF RESPONDENTS ON THE BASIS
OF PLAN TO CHANGE WATCH
Period (in years) No.of respondents
Percentage
Less than year 20 20
1 to 3 34 34
3 to 5 28 28
Above 5 years 18 18
Total 100 100
As per the above table, 34% of the respondents wants to change the watch in a period of 3 years, 28% in 3 to 5 years, 20% in less than a year and 18% after 5 years.
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TABLE-9: CLASSIFICATION OF RESPONDENTS ON THE BASIS
OF WISH PRICE RANGE
Price range (in Rs.) No. of respondents
Percentage
Below 500/- 24 24
500 to 1500/- 34 34
1500 to 2500/- 30 30
Above 2500 12 12
Total 100 100
The table shows the respondents wish price range for watches. Of the respondents 34% wish to purchase watch in the price range of Rs. 500 – 1500, 30% in the price range of Rs. 1500 – Rs.2500, 24% in the price range below Rs. 500 and remaining 12% in the price range of above Rs. 2500.
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TABLE – 10: CLASSIFICATION OF RESPONDENTS BASED ON THE OPINION ABOUT PRICE OF TITAN WATCHES
Opinion about price No. of respondents
Percentage
Low 15 15
High 20 50
Reasonable 14 35
Total 40 100
This table classifies the respondents based on the opinion about the price of titan watches. Of the respondents 50% feel the price as high, 35% as reasonable and remaining 15% as low.
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TABLE-11: CLASSIFICATION OF RESPONDENTS ON MODE OF OWNING WATCH
Mode of owning No. of respondents
Percentage
Bought 64 64
Gifted 36 36
Total 100 100
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As per the above table 64% of the respondents purchased the watch owned by them and 36% received the watch as gift.
TABLE-12: CLASSIFICATION OF THE RESPONDENTS BASED
ON THE OCCASION OF WATCH GIFT
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Occasion No. of respondents
Percentage
Birthday 14 39
Wedding 6 17
Festival 12 33
Achievement 4 11
Total 36 100
The table indicates that 36 respondents received the watch as gift on certain occasions. Of the 36 respondents, 39% received the watch as a gift on their birthday, 17% on their wedding day, 33% on festival and 14% on personal achievement.
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TABLE – 13: CLASSIFICATION OF THE RESPONDENTS BASED ON THE OCCASION OF WATCH BOUGHT.
Occasion No. of respondents
Percentage
Birthday 20 32
Wedding 14 22
Festival 18 28
Achievement 6 9
Others 6 9
Total 64 100
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Classification of the respondents based on occasion of purchase of watch. Of the 64 respondents, 32% bought their watch on the birthday, 28% during festivals, 22% on the occasion of wedding, and 9% on the occasion of achievements and 9% on other occasion (like casually commonly, fashion)
TABLE-14: SHOWING THE TABLE OF RESPONDENT ON THE BASIS OF OPINION ABOU THE PERFORMANCE OF TITAN WATCH
Opinion No. of respondents
Percentage
Excellent 14 35
Good 16 40
Satisfied 6 15
Unsatisfied 4 10
Total 40 100
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The above table indicates the opinion of the respondents regarding the performance of titan watches. Of the 40 respondents, 35% consider the performance as excellent, 40% as good, 15% as satisfied and remaining 10% are not satisfied with the performance of titan watches.
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RESPONDENTS REGARDING AFTER SALES SERVICE OF THE
DEALER:
Of the respondents 90% of the satisfied of the after sales service of the
dealer and remaining 10% feel dis-satisfied with the after sales service of the
dealer.
5.3 MAJOR SURVEY FINDINGS:
1. Majority of the respondents are male.
2. Most of the respondents belong to the age group of 20-30 years.
3. Most of the respondent belongs to the occupation of student.
4. Majority of the respondent’s monthly income were below Rs.5000.
5. Most of the respondents belong to the qualification of graduates.
6. The majority of respondents owned titan brand watches.
7. The majority of respondents are come to know about the titan
brand watches through advertisement and relatives.
8. Most of the respondents belong to the plan to change watch in a
period of 3 years.
9. Most of the respondents belong to the wish price range of Rs.500-
1500.
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10. The majority of respondents feel that the price of the titan watches
as high.
11. Most of the respondents belongs to the mode of owning watch are
bought.
12. The majority of respondents are occasion of watch gift from
birthday.
13. The majority of respondents are occasion of watch bought from
birthday.
14. Most of respondents belong to the opinion about the performance
of titan watch as good.
15. Majority of respondents feel satisfied about the after sales service.
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Chapter 6
SUGGESTIONS AND CONCLUSION
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6.1 SUGGESTIONS:
The survey of consumers has revealed the like and dislikes and taste
regarding wrist watches and satisfaction level in relation to Titan industries
Ltd. The consumers have forwarded the following suggestions for the
consideration of the company and dealers.
1. The respondents feel that the price of Titan watches is too high.
They anticipate a reduction in the price, which can be affordable to
all common class of people.
2. The service for the new watches should be improved.
3. One service mechanic must be provided by the company at every
showroom to ensure consumers good service and advice.
4. Some respondents feel that the price of spares of Titan watches is
high and suggest for a reduction in prices.
5. Some more attractive festival offers and gifts should be given on
purchases.
6. All varieties of watches should be made available in show room,
which cater to the taste of different income group customers.
7. Quality of the leather straps (belt) of watches should be improved.
8. Advertisements in local media should be increased. This may
cover rural areas also.
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9. Guarantees should be given for costly interior parts of watch.
10. Some respondents suggested that Titan industries Ltd., should
manufacture separate kids and sports watches.
11. The dealer has to improve after sales service to satisfy the
customers.
6.2 CONCLUSION:
The Titan brand of watches coming form the Titan industries is
known for quality and performance in the domestic and international
markets. The consumer of Titan brand watches are highly satisfied
customers having pride in owning and wearing the most sophisticated,
highly reliable and superior performance watch. Titan brand watches are in
great demand not only in India but also abroad. It is owing to a fact that
they come from a Tata group company.
The turnover of titan brand of watches has shown uptrend from year
to year. Titan watches enjoy a lion’s share in the domestic watch market.
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Though, there, is increasing demand for all varieties of Titan watches,
a few suggestions given by the respondents is to be considered by Titan
industries. The company has to put its efforts in improving quality of its
watches, introduce new varieties with changing out look to appeal and
attract potential customers for its products. Again the company can also
consider for a reduction in the prices which may make it market leader in the
years to come.
Finally it can be said that the performance of Titan watches is not only
amazing but also highly satisfactory. The company can achieve further
success by improvement the suggestions of the consumers.
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Annexure
QUESTIONNAIRE
Dear Sir/Madam,
I am a student of final year B.B.M., Sahyadri Arts College Shimoga.
As a part of BBM course. I am undertaking a survey on Consumer attitude
towards Titan watches” with special reference to Ruby Watch, Shimoga. I
kindly request you to fill up the following questions with accurate
information as for as possible.
The information provided by you will be used only for academic
purpose. I hope you will co-operate in this regard.
Thanking you,
Yours sincerely,
(Vishwanatha N.R)
1. Name & Address : ________________________________________
_____________________________________
Contact No. ________________________
2. Sex
a) Male b) Female
3. Age
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a) 10 – 20 years c) 30-40 years
b) 20-30 years d) Above 40 years
4. Occupation
a) Student c) Govt. employee
b) businessmen/professional d) other specify _________
5. Monthly income (in Rs.)
a) Below Rs. 5,000 c) Rs.5,000 – Rs.10,000
b) Rs.10,000 – 15,000 d) Above Rs.15,000
6. Qualification
a) S.S.L.C. c) Graduate
b) Post-graduate d) Other specify ____________
7. Marital status
a) Married b) Unmarried
8. Do you have a watch?
a) Yes b) No
9. If yes, name the brand of watch you own as present.
a) Titan c) Fastrack
b) Sonata d) Times
c) Any other specify ____________________
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10. Do you have titan watch
a) Yes b) No
11. If yes, how do you come to know about the titan watches?
a) Advertisement c) Friends
b) Relatives d) other specify_____________
12. Do you want to change your watch
a) Yes b) No
13. If yes, which brand do you want to purchase
a) Titan c) Times
b) Sonata d) Others specify _________
14. You plan to change your watch in
a) Less than a year c) 3 to 5 years
b) 1 to 3 years d) More than 5 years
15. What factor do you consider while purchasing a watch?
a) Price c) Guarantee
b) Quantity d) Reputation, of the marker
e) Others specify ________________
16. What is your opinion about the price of titan watches
a) Low c) Reasonable
b) High d) Others specify ______________
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17. Price range of watch what you like
a) Below Rs. 500/- c) Rs.1,500/- to 2500
b) Rs.500/- to 1,500/- d) Above Rs. 2,500
18. Your watch was
a) Gifted b) Bought
19. Your watch was bought/gifted on the occasion
a) Birthday c) Festival
b) Wedding d) Achievement
e) Other occasion’s _______________________
20. What is the opinion about performance of your watch
a) Excellent c) Satisfaction
b) Good d) Unsatisfaction
21. Are you satisfied with the after sale service of the dealer?
a) Satisfied b) Unsatisfied
22. Do you have any suggestions to Titan Industries Ltd.
