history of wristwatch

CONSUMER BEHAVIOUR TITAN WRIST WATCH

INTRODUCTION

DEFINITION OF CONSUMER BEHAVIOUR

Actions (that is, behavior) undertaken by people (that is,

consumers) that involve the satisfaction of wants and needs. Such

actions often, but not always, involve the acquisition (that is,

purchase) of goods and services through markets. The study of

consumer behavior is fundamental to the understanding of the

demand-side of the market. From a marketing perspective, the

patterns, actions or steps in the process of decision making by

consumers. The decision making process is influenced by various

attitudes, motives, and social influences on the purchaser. Buyers

tend to behave in certain ways including habits, brand loyalty,

and post purchase behavior.

CONCEPT

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SRM INSTITUTE OF MANAGEMENT STUDIES


Consumer purchases are influenced strongly by or there are four factors.

01. Cultural Factor

02. Social Factor

03. Personal Factor

04. Psychological Factor.

01. Cultural Factor :-

Cultural factor divided into three sub factors (i) Culture (ii) Sub Culture (iii) Social Classo Culture:-

The set of basic values perceptions, wants, and behaviours learned by a member of society from family and other important institutions. Culture is the most basic cause of a person’s wants and behaviour. Every group or society has a culture, and cultural influences on buying behaviour may vary greatly from country to country.

o Sub Culture :-

A group of people with shared value systems based on common life experiences and situations.

Each culture contains smaller sub cultures a group of people with shared value system based on common life experiences and situations. Sub culture includes nationalities, religions, racial group and geographic regions. Many sub culture make up important market segments and marketers often design products.

o Social Class:-

Almost every society has some form of social structure, social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests and behaviour.

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02. Social Factors :-

A consumer’s behaviour also is influenced by social factors, such as the (i) Groups (ii) Family (iii) Roles and status

o Groups :-

Two or more people who interact to accomplish individual or mutual goals.

A person’s behavious is influenced by many small groups. Groups that have a direct influence and to which a person belongs are called membership groups.

Some are primary groups includes family, friends, neighbours and coworkers. Some are secondary groups, which are more formal and have less regular interaction. These includes organizations like religious groups, professional association and trade unions.

o Family:-

Family members can strongly influence buyer behaviour. The family is the most important consumer buying organization society and it has been researched extensively. Marketers are interested in the roles, and influence of the husband, wife and children on the purchase of different products and services.

o Roles and Status :-

A person belongs to many groups, family, clubs, organizations.

The person’s position in each group can be defined in terms of both role and status.

For example. M & “X” plays the role of father, in his family he plays the role of husband, in his company, he plays the role of manager, etc. A Role consists of the activities people are expected to perform according to the persons around them.

03. Personal Factors :-

It includes

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i) Age and life cycle stage (ii) Occupation (iii) Economic situation (iv) Life Style (v) Personality and self concept.

o Age and Life cycle Stage:-

People changes the goods and services they buy over their lifetimes. Tastes in food, clothes, furniture, and recreation are often age related. Buying is also shaped by the stage of the family life cycle.

o Occupation :-

A person’s occupation affects the goods and services bought. Blue collar workers tend to buy more rugged work clothes, whereas white-collar workers buy more business suits. A Co. can even specialize in making products needed by a given occupational group. Thus, computer software companies will design different products for brand managers, accountants, engineers, lawyers, and doctors.

o Economic situation :-

A person’s economic situation will affect product choice

o Life Style :-

Life Style is a person’s Pattern of living, understanding these forces involves measuring consumer’s major AIO dimensions.

i.e. activities (Work, hobbies, shopping, support etc) interest (Food, fashion, family recreation) and opinions (about themselves, Business, Products)

o Personality and Self concept :-

Each person’s distinct personality influence his or her buying behaviour. Personality refers to the unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment.

04. Psychological Factors:-

It includes these Factors. i) Motivation (ii) Perception (iii) Learning (iv) Beliefs and attitudes

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Motivation :-

o Motive (drive) a need that is sufficiently pressing to direct the person to seek satisfaction of the need

Perception :-

o The process by which people select, Organize, and interpret information to form a meaningful picture of the world.

Learning:-

o Changes in an individuals behaviour arising from experience.

Beliefs and attitudes :-

o Belief is a descriptive thought that a person holds about something

o Attitude, a Person’s consistently favourable or unfavourable evaluations, feelings, and tendencies towards an object or idea

Profile of the company

TATA started in 1868 by Jamshetji Musser Wangi in textile industry. Due to the industrial

revolution TATA diversified its field one of the fields is to the watch sector, named as TITAN.

TITAN entered into the watch sector in 1986-87.They concentrated only on Quartz watches.

Titan penetrated the market from mechanical type to quartz, Imported to Indian, TITAN is banded by

common culture and vision is TATAs Trust, reliability, value of money, highly quality, fair dealings, highly

ethical, professional management.

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TITAN LOGO

FASTTRACK LOGO

Kinds of watches available in Titan

o Analog

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o Digital

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Distribution channels

In 1993-94 - New retailing network initiated by TITAN using exclusive show room to see in products.

Service Network

31 Service stations run by the company, 268 services authorized stations, spare parts manufacturing

units setup in Bangalore, Decentralized of repair activities through training of dealers and appointment

of authorized parts distributors. It operates in Bombay, Chennai, Calcutta and Delhi.

Achievements in customer service network

94% of watches return in 7 days, spares is processed within 48 hours,

Introduction to the study

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Marketing has assumed much in present day business world. The success of failure Of any

organization profit making or non-profit making depends on the Marketing. Marketing has special

significance in the modem management of Business concept. In the words of peter F Drucker,

"Marketing is the Distinguishing and unique function of the business”

Business decisions should be “Marketing or customer oriented rather than Product oriented

gearing operations primarily to the office satisfaction of Customer wants and needs. What marketing

creates is a permanent existence of the entity of customers”, the substance of particular group of

customer or the Different group of customers for a company product reduces its business risk and

Expands its planning horizon. It serves the business and the business turn serves

The market, through planning research and developing. An activity of any type of Business

undertaking makes use collection of data.

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OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE

To study the attitude and satisfaction among the consumers for Titan fastback watches, at

SRM University (Kattankulathur campus).

SECONDARY OBJECTIVE

1) To study and analyze various factors influence the consumers to purchase the fast track

watches.

2) To analyze the factors influencing perception and buying decision of consumers.

3) To find out the effectiveness of advertisements for fast track watches.

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SCOPE OF THE STUDY

The study attempts to identify the reach of Titan fast track watches which would help the

company in formulating suitable strategies. The study also identifies the attitudes and preference of the

consumers. The study also focused on Media through which the product reaches the consumers.

LIMITATIONS OF THE STUDY

1. The geographical scope of the study is limited to SRM University kattankulathur campus

alone.

2. The sample size is confined to 50.

3. The consumer’s attitude may change in future due to change in their standard of living.

4. The Respondents were sometimes unable to spend much time for filling up the,

questionnaire. So, the chances for bias in the respondents answer were on the higher side.

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RESEARCH METHODOLOGY

RESEARCH DESIGN

The Research Design adopted in the study was descriptive in nature because the study aims at

describing the situation as it exists at present. It shows the consumers satisfaction for fast track watches.

SAMPLE SIZE

The Sample Size of this study is 50.

POPULATION

The Population of this study is indefinite

SAMPLING METHOD

The study involves area sampling method. Area sampling method involves selecting a probability

sample of geographic areas and selecting units or individuals within the selected areas for the sample

SOURCES OF DATA

The Study used both Primary and Secondary data.

PRIMARY DATA

The primary data was collected from the respondents using questionnaire.

SECONDARY DATA

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The Secondary data was collected from the company’s official website.

METHODS OF DATA COLLECTION

Data was collected from the customers with the help of a questionnaire.

DATA ANALYSIS METHOD

The Data was collected from the main study and using analyzing the study.

Based on the results conclusion were drawn and suggestions were made.

No of users of Fast track watches (Sample Size-50)

TABLE – 1

TABLE SHOWING THE USERS OF FASTRACK

S. NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE

1. YES 17 34%2. NO 34 66%

TOTAL 50 100%

INTERPRETATION

It is inferred that from the sample of 50, at SRM University, 34% are the users of fast track and

66% are not using fast track watches

Influencer for purchase

TABLE – 2

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TABLE SHOWING THE INFLUENCER F O R THE PURCHASE OF FASTRACK

S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE

1. Friends 02 12%2. Advertisements 15 88%3. Family Members 00 0

10%TOTAL 17 100%CHART:

INTERPRETATION

It is understood that, majority of the respondents i.e., 88% of them were influenced by the

advertisements appearing in media and 12% of the respondents purchased fast track watches

when refereed by their friends.

TABLE – 3

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TABLE SHOWING THE PREFERRED ATTRIBUTE O F FASTRACK

S.NO PARTICULARS NO. OF RESPONDENTS PERCENTAGE

1. Design 04 23%2. Use friendly 02 12%3. Brand 11 65%

TOTAL 17 100%

CHART:

INTERPRETATION

It is understood that, majority of the respondents i.e., 65% of the respondents preferred fast

track watches due to its brand image and next majority, i.e. 23% of the respondents preferred it due

to its design and 12% of the respondents preferred it due to its use friendly.

Gender of the users

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TABLE – 4

TABLE SHOWING THE USERS ON THE BASIS OF GENDER

S.NO PARTICULARS NO. OF USERS PERCENTAGE

1. Male 09 53%2. Female 08 47%

TOTAL 17 100%

CHART:

INTERPRETATION

It is inferred that 53% of the users are male and 47% of the users are female. Hence the male

users are more than female users.

TABLE – 5

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TABLE SHOWING THE SATISFACATION LEVEL OF FAST TRACK

S.NO ATTRIBUTES Brand PERCENTAGE

1. Highly satisfied

07 41%

2. Satisfied 08 47%3. Dissatisfied 02 12%

TOTAL 17 100%

CHART:

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S.NO ATTRIBUTES Price PERCENTAGE

1. Highly satisfied 03 18%2. Satisfied 11 65 %3. Dissatisfied 03 17%

TOTAL 17 100%

CHART:

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CHART:

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S.NO ATTRIBUTES Variety PERCENTAGE

1. Highly satisfied 05 29%2. Satisfied 06 35 %3. Dissatisfied 06 36%

TOTAL 17 100%


INTERPRETATION

It is understood that the users of fast track watches are quite satisfied with the brand image of

fast track and with its pricing strategies, but dissatisfied with the varieties.

RANK DESIGN USER FRIENDLY BRAND3 9 8 112 4 7 21 4 2 4

TOOL OF ANALYSIS

Weighted Average

X = €wx/€w

REASON WEIGHTED AVERAGE RANK

DESIGN 39/6=6.5

3

USER 40/6=6.6 2

BRAND 41/6=6.8 1

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SUGGESTIONS

TV advertisements can be renewed explaining the product feature and aggressive

marketing will help the company. Awareness of the product is less among the people. So,

the company may take several steps to create such awareness regarding its values to the

customers. The company can adopt new strategies and policies to overcome the

competition.

CONCLUSION

Gaining and maintaining consumer preference is a battle that is never really won.

Continued and consistent branding initiatives that reinforce the consumer’s purchase

decision will, over time, land the product in consumer preference sets. Attaining and

sustaining preference is an important step on the road to gaining brand loyalty

Most of the consumers prefer Fast track watches in SRM University campus, due to its

strong brand image, and the main factor forcing the customers to buy fast track watch is

advertisements through the print and electronic media.

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BIBLIOGRAPHY

WEBSITE:

DEFINITION www.glossary.econguru.com

FACTORS www.mbsmynotes.com

IMAGES www.google.com/images

ANNEXURE:

Questionnaire

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http://www.google.com/images

http://www.mbsmynotes.com/

http://www.glossary.econguru.com/


QUESTIONNAIRENAME: AGE:

GENDER: MALE FEMALE

QUESTIONS:

1. Are you using TITAN FAST TRACK wrist watch?

YES NO

2. Who influence to purchase TITAN FAST TRACK wrist watch? Friends Advertisements Family

3. Why you prefer the TITAN FAST TRACK wrist watch? Design Use Friendly Brand

4. What is your feedback about :

PARTICULARS HIGHLY SATISFIED

SATISFIED DISSATISFIED

BRAND

PRICE

VARIETY

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