watches

Chapter 1

CONSUMER BEHAVIOUR

What is Consumer behaviour?

The Process whereby individuals decide whether, what, when, how, and from whom

to purchase goods and services. Consumer behaviour is to do with the activities of

individuals in obtaining and using the goods and services. If uncompress the decision

making process that proceeds determines purchases.

The consumer buying process:

Buying process represents a problem solving approach it is a decision-making process

reading to buying decision on the part of consumer. The five different steps in buying

process are

i) Need recognition: -

It is the awareness of the want or a desire or a consumption problem without whose

satisfaction the consumer feels restless i.e. he or she feels that a desire or want has

risen which has to be satisfied.

ii) Information search:

Consumers interest is indicated in the consumers willingness to seek further info

about product or service this can be done through friends, relatives, salesman, dealers,

ads, etc. tries to get rep 2 date info about products he wants to buy.

iii) Evaluation & intention:

Evaluation is a mental trial of a product a service the consumer assigns relative values

to diff. Products based on the accumulated info & judges the relatives worth of

alternative products from the angle of want satisfying potential once he evaluates, he

develops the intention to accept or reject a given products

iv) Purchase decision:

Decision to purchase implies consumer commitment for a product or services such

purchase may trial or adoption which is done when the consumer buys the products it

is through trial the gains experience & that may result in repeat sales if he is satisfied

with the products

v) Part Purchase reaction

A Positive feeling or satisfaction results in repeat sales or recommending products to

others on the other hand dis-satisfaction or negative feeling creates anxiety and

doubts

Objectives

1. To know the reasons for wearing a watch of consumers in general and also across

age and sex

2. To know the brands of watches which are preferred by consumers in general and

across age and sex.

3. To know the factors which determine the preference of individual in general of

consumers in general and across age and sex.

4. To know the price range for wristwatches preferred by consumers in general and

across age and sex

5. To study the sources, which influence consumer preference for watches in general

and across age and sex

Methodology:

Primary Data

For project study we have used random sampling method to collect the information

required for studying the consumer preference for different watches. A total of 250

people have been interviewed. 125 male & female each divided into different age groups

viz 18-27, 28-37, 38-47, 48-57, 57 & above.

An attempt has also been made to cover even rural areas so as to get a fair idea of

customers across the state. Analysis has been done with the help of simple arithmetic

tools like percentages and graphs.

Secondary Data

The literature required to undertake the study on consumer preference on wristwatches

has been collected from different books available in the college and other libraries and

also from different Internet sites providing the needed information.

Scope of study

The consumers for wristwatches are spread across the state and that too in large numbers

but for the purpose of our study we have selected the sample from city of Panaji and the

surrounding areas.

As wristwatches have almost equal number of consumers in both rural and urban areas,

the study has covered the people in both areas

The survey is planned to be conducted in the following areas; Betim, Altinho, St. Inez,

Dona Paula, Miramar, Panaji, Patto, Taliegao, etc. We intend to interview all the type of

people to so as to get a better knowledge of consumer behaviour and preference.

Limitation of study :

Time constraint was a major factor for restricting the study only to the capital city and

surrounding areas. Thus the conclusion that has been drawn on the basis of results of

survey has portrayed the preferences of the consumers in the covered areas and thus

cannot be generalized without any error term for the rest of the state.

The project also suffers from limitation of sampling methods.

Chapter 2

Brands of Watches

Citizen

In 1924, Citizen’s forerunner, the Shokosha Watch Research Institute produced its

first pocket watch the “CITIZEN”. It was Mr. Shimpei Goto, Mayor of Tokyo in the

Taisho period, who bestowed the name “CITIZEN” with the hope that the watch, a

luxury item of those times, would become widely available to ordinary citizens and

be sold throughout the world. The Citizen Watch Company, Ltd. was established in

1930. Citizen is the world’s largest watch company. More people depend on a watch

made by Citizen than other timepiece. Citizen produced 292 million timepieces in

1999, about 24% of the world total. More than 60 years later the Citizen name has

become synonymous with miniaturization. But the last six decades mark not only the

history and evolution of Citizen the company, but the process and progress of the art

of watch making and other products utilizing precision mechanics and

microelectronics. One of these innovative energy solutions is called Eco-Drive and is

already to be found in many Citizen watches. Through the use of highly sensitive

photocells, even the weak light from candles can be converted into electrical energy

to power the movement. Since excess energy is automatically saved in storage cells,

these watches can continue to keep time even after they have been in the dark for

months. A further advantage of the Eco-Drive models is that no battery change is

necessary. This not only saves money but also helps protect the environment.

Besides innovative technology, a high-quality finish, superior materials and an

attractive design characterize the Citizen watches. About 300 engineers and scientists,

as well as dozens of designers work on the development of new watches at the

Citizen research centers. Citizen has repeatedly set new standards in the watch

market. Citizen is moving beyond the conventional thinking about watch engineering

in its pursuit of "Beyond Watch Technology."

Omega

The Omega name made its sports debut at the international ballooning contest for the

Gordon Bennet cup in 1909. Britain's Royal Flying Corps decided to choose Omega

watches in 1917 as their official timekeepers for it's combat units, as did the

American army in 1918. Omega had their first victory at the observatory timing

competitions in Neuchâtel in 1919 with their chronometers winning the competition.

This was continued with a score of first places right up until 1971. The 1933, 1936

and 1946 competitions were some of Omega's most noteworthy. Innovators in every

way, the Brandt brothers were the first Swiss watch makers to use the divided

assembly line. Allowing quality watches to be mass-produced, this process also

allowed the prices of the watches to be moderated as efficiency improved. The

company went through several name changes through the years--Louis Brandt &

Frere (1891), Louis Brandt and Frere-Omega Watch Co. (1903), Omega, Louis

Brandt & Frere (1947), and Omega Ltd in 1982. Through all of this time and through

all of the name changes, the pride in quality of workmanship remained in the Omega

watch. In 1957, the "Omega Speed master" was created. After rigorous evaluation and

testing, NASA decided to use the "Speed master Professional" chronograph

wristwatch in 1965, as it's official timekeeper. In 1967, the one-millionth

chronometer was certified. On 21st July 1969, astronaught Neil Armstrong became

the first man to step on the moon. As he made the famous steps quoting "one small

step for man, one giant leap for mankind", he was wearing his Omega Speed master

Professional chronograph. In 1972, Omega received their two-millionth-chronometer

certificate. In 1974 the legendary "Mega quartz" marine-chronometer had a daily

timing variation of just two thousands of a second, in a trial lasting for 63 days. On

the 18th of May 1983, Omega received its 100,000th official rating certificate for

quartz chronometers. A museum for the company was opened on 16th December

1983. In 1995, presentations were made of the first automatic wristwatch with a

centrally mounted tourbillion. Omega is continuing to demonstrate it's innovation,

with it's newest addition to the company's collection in 1999, with the new 2500

caliber movement looking to replace the traditional Swiss-lever escapement. Omega's

watchmakers have developed the "coaxial escapement", a creation of the English

master-watchmaker, George Dianels, for series production in wristwatches. The

combination of the new escapement and a newly developed free sprung balance aims

to eliminate the basic impediments to accurate regular timekeeping. The effect of the

thickness and viscosity of lubricant on the balance's amplitude has been virtually

eliminated. The new coaxial escapement consists of three components: a coaxial

wheel, an escape wheel, and a lever with three pallet stones, unlike the conventional

pallet-lever and escape wheel of the lever escapement. This has extended service

intervals to around 10 years. There is no denying that Omega makes a high-end

watch. If you're looking for "just a watch," this is not the one for you. Because of this,

we must be very frank and say that we have a very difficult time in finding the

Omega watch at a "discount" price that we can pass on to you. Our selection of

Omega watches is one of the smallest in the store. In a day when "you get what you

pay for" isn't always quite right, though, Omega truly gives you high quality for your

money. Making high quality watches for ladies and gentlemen for over 100 years,

Omega has certainly seen its share of quality innovations. It remains a proud name

and quality watch. Though our selection is small, we feel sure that you can find a

quality Omega watch that is just right for you. When you do, buy it proudly, knowing

that you have just purchased one of the finest watches anywhere at one of the best

prices to be found.

Esprit

In 1979 John Casado designed the famous Esprit logo. Despite worries that the triple-

bar 'E' would not be legible to customers, the new logo became one of the most

recognized and memorable in international fashions. Headquartered in Hong Kong,

Esprit Holdings Limited is engaged in the sourcing, retail and wholesale distribution

and licensing of quality and lifestyle products designed under the globally recognized

ESPRIT brand name. It has been a listed company in Hong Kong since 1993 and has

a secondary listing on the London Stock Exchange since December 1998.Esprit has

launched an unending line of fashionable, stylish, chic and trendy watches. Standing

out in the innovative collection bearing the mark of casual leisure and feminine

elegance are the ladies watches that define the contemporary women of today.

Rado

Rado watches are associated with top quality timepieces made from the finest

scratchproof materials in the world and has succeeded over a short period in building

up a distinctive brand with successful worldwide distribution. The company was

founded in 1917 in Switzerland, although it wasn't until the 1960's that the world's

first scratchproof watch was made under the name Rado DiaStar. In 1983, Rado

joined the elite SMH group, now known as the Swatch Group, the biggest watch

conglomerate in the world. Rado watches are unique in every way. While other

brands use conventional materials like gold, brass or steel, Rado goes for materials of

the future such as hard metal, sapphire crystal, high-tech ceramics, high-tech

lanthanum or high-tech diamond. And this is always in the endeavour to develop

design/material combinations that unite in perfect harmony the double functions of

the watch as a modern piece of jewelry and a functional timepiece. The mastery of

highly developed leading technologies for the manufacture and processing of the

hardest materials in the world provide the basis for this. It has taken decades for Rado

to build up this know-how, which today constitutes the core expertise of its material-

technological developments. Rado loves clean lines and modern styling. Although the

company has a history dating back to 1917 Switzerland, the company strives to be

cutting edge. In 1960, Rado came out with the world's first scratchproof watch. In

1983, Rado joined what is now known as the Swatch Group, the biggest watch

conglomerate in the world. Rado watches are unique in modern looks, innovative

style and comfort. Wearer-comfort is an aspect uniquely valued in Rado's design

process. As well, Rado likes to use uniquely progressive-minded materials such as

high-tech ceramics and lanthanum. Rado watches have it all: comfort, Swiss lineage

and exceptional looks

Titan

The significance of the name Titan connotes the association of the Tata Group in the

form of Tata Industries and the Tamil Nadu Industrial Development Corporation. It thus

signifies the joint venture between the Tata Group and TIDCO. World's sixth largest

manufacturer brand of watches and India's leading producer of watches under the Titan

and Sonata brand names. It’s a manufacturers of India's leading watch brand and India's

only national jewellery brand - using design, technology and people for unchallenged

market leadership

Product portfolio includes watches, clocks, accessories and jewellery, in both

contemporary and traditional designs. They exports watches to about 32 countries around

the world with manufacturing facilities in Hosur, Dehradun, Goa and manufactures

precious jewellery under the Tanishq brand name, making it India's only national

jewellery brand.

They have an extensive domestic distribution network, amongst the world's largest

retail chain of exclusive retail showrooms called 'The World of Titan' with 164

showrooms and multi-brand outlets named Time Zones with 144 outlets for watches.

Titan watches have

crossed 50 Million customers- an endorsement of customer.

HMT

HMT, an Indian manufacturer is included as an example of a brand that doesn't get too

Much exposure in the western world. HMT has been manufacturing watches since the

1950s, but the company itself is over 120 years old. A fellow TZer, who is involved in

The Japanese distribution of this brand, says that the company was established by the

English colonial government to supply civilian items, particularly pumps, to the

Government. Soon the company was manufacturing all sorts of light industrial items.

Following independence, the Indian government contracted with Citizen to build a watch

industry in India, and HMT watches were the result. Citizen designed the factory, and all

the movements are Citizen movements, built under license by HMT. Quality control is

maintained to Japanese standards.

HMT make many variations using the same case and movement, this model being called

"Janata". This is part of a range of watches that are more European in design than HMTs

other watches, and are made especially for the Japanese market. They also make a range

of automatic watches.

The case on the Janata is PNP plated, and the plating is smooth and free of blemishes. It

has a SS screw back and is water resistant rated to 3 atm (30m). The crystal is a high

domed acrylic, to match the similarly highly domed white dial with printed markers. I

was quite taken with the art-decoish look of the watch, and it I think it is quite an

attractive piece. The movement is HMTs manual-wind 17-jewel cal.020, and it has

proven to be very pleasingly accurate delight.

Chapter 3

Data Analysis

The sample-based study to know the preferences of consumers for wristwatches was

undertaken by interviewing a total of two hundred and fifty people. The study tried to

cover not only an equal number of males and females and people across different age

groups but also tried to spread it across the different occupations, income levels and

level of education.

As far as occupation are concerned out of 250 people, 28.8% work in the private

sector, 18% work for the government, 29.2% are self-employed and 24% are

housewives.

With respect to annual income 8.8% earn an annual income between Rs. zero and

Rs.40,000, 18% earn in the category of Rs. 40,001 and 80,000, 28.8% earn between

Rs. 80,001 and Rs.1,20,000 per year, 17.6% earn from Rs.1,20,001 to Rs.1,60,000 per

year, whereas 7.6% earn above Rs.1,60,000 yearly and 19.2% did not answer the

question relating to their annual income.

The education level of people showed that 8% had done their SSCE, 20.4% were

studied up to HSSCE, whereas 43.6% are graduates, and 22.8% have done their post

graduation, and 5.2% are professionals namely; Businessmen, Salesmen, Managers,

Hotel owners, Doctors, Lawyers, Executives, Accountants, etc.

We also tried to know the frequency of buying watches and the results showed that

out of 250 people interviewed, 1.2% buy a new watch every three months, 8.8% buy

once in six months, 39.2% change it once in a year and 50.8% purchased a new watch

when their existing wrist watch either stopped working or had to be repaired often.

Price is an important determinant, which determines the demand for any particular

good or a service available in the market. In our study we tried to know whether the

prices quoted for different designs by different brands are reasonable according to the

consumer of product and the result show out of 250 people who were interviewed,

74.8% think that the price quoted for different designs are reasonable. Whereas 25.2%

think that prices quoted for different designs are not reasonable.

Exchange or a discount offer and advertisement are a common techniques used by

manufacturers today to sell and increase the demand of their products. But as far as

wrist watches are concerned, our study did not show the similar trend as only 18.8%

bought their watches in a discount offer and 16.4% bought their watches in an

exchange offer whereas a majority of 64.8% bought it without any discount or

exchange offer. Out of 250 people interviewed, 60% said that they were affected by

advertisement and 40% said they are not.

Table 3.1 Reasons for wearing wristwatches by consumers

Reasons Consumers

Necessity 228

Luxury 22

In the graph x-axis represent the options of necessity and luxury and y –axis shows the

number of people who considered a wrist watch either a necessity or luxury. The total

number of people interviewed is two hundred and fifty. The study conducted suggest

that almost 91% of consumers feel that a wristwatch is a necessity while remaining 9%

feel that it is a luxury.

228

22

0

50

100

150

200

250

Necessity LuxuryX

Y

Table 3.2: Number of consumers preferring the different brand of watches

The above pie chart shows that the brand of watches which is preferred by the majority of

consumers interviewed is Titan 39%, The other two brands of watches which are

Name of Brand Consumers

Titan 188

Citizen 76

Timex 60

Omega 36

H.M.T 35

Rado 30

Espirit 29

Maxima 24

Titan

Timex

Citizen

Omega

Rado

H.M.T

Maxima

Esprit

preferred are Citizen 16% and Timex 13%,Omega is at 8% , HMT 7% , Rado 6% ,

Espirit 6% and Maxima is the least preferred at 5%.

Table 3.3: Sources of information for consumers

Sources of

Information Consumers

Advertisement 136

Electronic

media 109

Friends 95

Salesman 30

Others 14

The above graph shows the sources of information for consumers. Majority of consumers

have bought their watch by seeing them in advertisements i.e. 35%, 28% consumers have

been influenced by electronic media. Friends have influenced 25% consumers. The

choice of 8% consumers is because of the salesman’s effort, Other sources of information

for consumers are 4%.

Table 3.4: Factors influencing choice of consumers.

Factors Influencing Choice Consumers

Design 160

Price 129

Brand 121

Durability 115

After sales service 68

Trend 61

Personal income 47

Celebrity endorsement 41

The above pie-chart shows the factors influencing choice of consumers. Design is the

most important factor influencing choice of the consumer with 22%, Price too plays a

crucial role in choice with 17%, Then comes brand with 16%, Durability is considered by

15% of consumers, After sales service influences the demand of 9% consumers, Trend is

important for 8% of consumers, Personal income and Celebrity endorsement is important

for 6% of consumers.

Table 3.5: The different price ranges, which are preferred by consumers.

Price ranges Consumers

500-1000 43

1001-5000 156

5001-10,000 34

10,001-15,000 8

15,001 & above 9

The above bar graph shows the different price ranges, which are preferred by consumers.

Most of the wrist watches bought by the consumers are between the price range of 1001

to 5000 with 62%, 17% consumers buy wrist watches between 500 to 1000, 14%

consumers prefer to buy wrist watches between 5001 to 10,000, 4% 15,001 & above and

3% consumers prefer wrist watches in the price range of 10,001 to 15,000.

Table 3.6: Reasons for wearing wrist watch by male and female consumer.

Reason Male consumer

Female consumer

Necessity 113 115Luxury 12 10

The above graph represents the reasons for wearing wrist watch by male consumers and

female consumers.

Male consumers:- The study conducted suggests that 90% of male consumers feel that a

wristwatch is a necessity while remaining 10% feel that it is a luxury.

Female consumers:- The study conducted suggests that 92% of female consumers feel

that a wristwatch is a necessity while remaining 8% feel that it is a luxury.

Table 3.7: Number of consumers preferring the different brand of watches.

Brands Male consumers

Female consumers

Titan 97 91Timex 33 27Citizen 42 34Omega 21 14Rado 18 12Hmt 16 18Maxima 9 14Esprit 5 24

The above graph shows the brand of watches preferred by male consumers and female

consumers.

Male consumers: 40% male consumers prefer Titan. The other two brands of watches

which are preferred are Citizen 17% and Timex 14%, Omega is at 9%, Rado and HMT is

preferred by 7% of consumers, Maxima by 4% consumers. The least preferred wrist

watch among males is Esprit 2%.

Female consumers: 39% female consumers prefer Titan. The other two brands of watches

which are preferred are Citizen 15% and Timex 12%, Esprit is at 10%, HMT has 8% of

total female consumers. Maxima and Omega are preferred by 6% of consumers, the least

preferred wrist watch among females is Rado 5%.

Table 3.8: Sources of information for male and female consumers.

Sources of information

Male consumers

Female consumers

Advertisement 72 64Electronic media 56 53Friends 49 46Salesman 15 15Others 4 10

The above graph shows the sources of information for male consumers and female

consumers.

Male consumers: Majority male consumers have bought their watch by seeing them in

advertisements 37%, 29% consumers have been influenced by electronic media. Friends

have influenced 25% consumers. The choice of 8% consumers is because of the

salesman’s efforts, Other sources of information of consumers is 2%.

Female consumers: Majority female consumers have bought their watch by seeing them

in advertisements 34%, 28% consumers have been influenced by electronic media.

Friends have influenced 24% consumers, The choice of 8% consumers is because of the

salesman’s efforts, Other sources of information of consumers is 5%.

Table 3.9: Factors influencing choice of male and female consumers.

Factors influencing

choice

Male consumers

Female consumers

Price 69 60Design 85 75Celebrity endorsement

12 24

Durability 69 51Brand 62 61Personal income

24 22

Trend 28 36After sales service

45 38

The graph above shows the factors influencing choice of male consumers and female

consumers

Male consumers: Design is the most important factor influencing choice of the consumer

22%, Durability and Price play an important role with 18%, Then Brand by 16%, After

sales service 11%, Trend 7%, Personal income 6%, Least influencing factor is Celebrity

endorsement 3%.

Female consumers: Design is the most important factor influencing choice of the

consumer 20%, Brand 17%, Price 16%, Durability 14%, Trend and After sales service

10%, Celebrity endorsement 7%, Least influencing factor is Personal income 6%.

Table 3.10: The different price ranges, which are preferred by male and female consumers.

Price range Male consumers

Female consumers

500-1000 22 211001-5000 77 785001-10,000 14 2010,001-15,000 5 315,001 & above 6 3

The above graph shows the different price ranges which are preferred by consumers.

Male consumers: Most of the wrist watches bought by the consumers are between the

price range of Rs.1001 to Rs.5000 which is 62%, 18% consumers buy wrist watches

between Rs.500 to Rs.1000, 11% consumers prefer to buy wrist watches between

Rs.5001 to Rs.10,000 , 5% consumers buy their wrist watch between the range of

Rs.15,001 & above and 4% consumers prefer wrist watches in the price range of

Rs.10,001 toRs.15,000.

Female consumers: Most of the wrist watches bought by the consumers are between the

price range of Rs.1001 to Rs.5000 i.e. 62%, 17% consumers buy wrist watches between

Rs.500 to Rs.1000, 16% consumers prefer to buy wrist watches between Rs.5001 to

Rs.10,000 , 2% consumers prefer to buy their wrist watch within the range of Rs.10,001

to Rs.15,000 and Rs.15,001 & above.

Table 3.11: Reasons for wearing a wristwatch by consumers in the age group of 18 to 27

years.

Reasons ConsumersNecessity 41Luxury 9

0

5

10

15

20

25

30

35

40

45

Necessity Luxury

18 - 27

The total number of consumers in this age group are 50 which includes 25 males and 25

females. The graph above shows, that consumers buy their wrist watch as a necessity or

luxury. 82% consumers wear their wrist watch as a necessity. The remaining 18% feel

that wearing a wrist watch is a luxury.

Table 3.12: Number of consumers preferring the different brand of watches in the age

group of 18 to 27 years.

Brands ConsumersTitan 34Timex 13Citizen 10Omega 6Maxima 6Espirit 6Rado 2Hmt 2

0

5

10

15

20

25

30

35

40

Titan Timex Citizen Omega Rado Hmt Maxima Espirit

18 - 27

The graph above shows the different brand of watches preferred by consumers in the age

group of 18 to 27 years. 43% consumers prefer Titan, Timex following by 16%, Citizen

is preferred by 13%, Omega, Maxima and Espirit are preferred by 8% of consumers. The

least preferred are Rado and HMT with only 3% of consumers within this age group.

Table 3.13: Sources of information for consumers in the age group of 18 to 27 years.

Sources of information ConsumersAdvertisement 38Electronic media 11Friends 7Other 3Salesman 1

The above graph shows the different sources of information for consumers. Majority of

consumers have bought their watch by seeing them in advertisements i.e. 63%, 18% of

consumers have been influenced by electronic media. Friends have influenced 12% of

consumers. Other sources of information for consumers are 2%, The choice of 5%

consumers is because of the salesman’s effort.

Table 3.14: Factors influencing choice of consumers in the age group of 18 to 27 years

Factors influencing choice ConsumersPrice 13Design 18Celebrity Endorsement 3Durability 20Brand 24Personal income 2Trend 4After sales service 6Other 0

0

5

10

15

20

25

30

Price Design CelebrityEndorsement

Durability Brand Personal Income Trend After SalesService

Other

18 - 27

In the graph above the factor that has influenced the consumers the most is Brand of

watches which influences 27% of consumers. Durability influences 22% of consumers,

while Design, Price, After sales service is the influencing factor for 20%, 14% and 7%

consumers respectively. 4%, 3%, and 2% of consumers consider Trend, Celebrity

endorsement and Personal income before buying a wristwatch.

3.15: The different price ranges which are preferred by consumers in the age group of 18

to 27 years.

Price ranges Consumers500-1000 71001-5000 405001-10,000 310,001-15,000 015,001 & above 0

The above graph shows the different price ranges, which are preferred by consumers in the above

age group. Most of the wrist watches bought by the consumers are between the price ranges of

Rs.1001 to Rs.5000 i.e. 80%, 14% consumers buy wrist watches between Rs.500 to Rs.1000, 6%

consumers prefer to buy wrist watches between Rs.5001 to Rs.10,000. There are no consumers for

watches above these price ranges in this particular age group.


years.


The graph above shows, that consumers in the age group of 28 to 37 years buy their

wristwatch as a necessity or luxury. Out of the total 96% consumers wear their

wristwatch as a necessity. The remaining 4% feel that wearing a wristwatch is a luxury.

0

10

20

30

40

50

60

Necessity Luxury

28 - 37

Table 3.17: Number of Factors influencing choice of consumers in the age group of 28 to

37 years.

Brands ConsumersTitan 45Timex 18Citizen 12Omega 10Rado 1Hmt 8Maxima 6Esprit 7

0

5

10

15

20

25

30

35

40

45

50


28 - 37


group of 28 to 37 years. 42% consumers prefer Titan watches, Timex followed by 17%,

Citizen is preferred by 11% of consumers, 9%, 6% and 1% of consumers prefers Omega,

Maxima and Rado respectively. HMT and Esprit are preferred by 7% consumers.

Table 3.18: Sources of information for consumers in the age group of 28 to 37 years.

Sources of information ConsumersAdvertisement 35Electronic media 22Friends 13Salesman 0Others 8

0

5

10

15

20

25

30

35

40

Advertisements Electronic Media Friends Salesmen Other

28 - 37


consumers have bought their watch by seeing them in advertisements i.e. 45%, 28% of

consumers have been influenced by electronic media. Friends have influenced 17% of

consumers, Other sources of information 10%.

Table 3.19: Factors influencing choice of consumers in the age group of 28 to 37 years.

Factors influencing choice ConsumersPrice 34Design 39Celebrity endorsement 8Durability 22Brand 32Personal income 2Trend 22After sales service 18Other 0

0

5

10

15

20

25

30

35

40

45


Durability Brand PersonalIncome

Trend After SalesService

Other

28 - 37

In the graph above the factor that has influenced the consumers the most is Design i.e.

22%, Price influenced 19% of consumers, Brand influences18% consumers, Durability

and Trend influence 12% consumers, After sales service influences 10% consumers,

Celebrity endorsement influences 5% consumers, Personal income influences 1%

consumers.

Table 3.20: Price range of wristwatches preferred by consumers in the age group of 28 to

37 years.

Price range Consumers500-1000 171001-5000 285001-10,000 1410,001-15,000 115,001 & above 0

0

5

10

15

20

25

30

500 - 1000 1001 - 5000 5001 - 10000 10001 - 15000 15001 - above

28 - 37

The above graph shows the different price ranges, which are preferred by consumers.

Most of the wrist watches bought by the consumers are between the price range of

Rs.1001 to Rs.5000 i.e. 47%, 28% consumers have bought their watch within the price

range of Rs.500 to Rs.1000, Rs.5001 to Rs.10, 000 is the price range of 23% consumers,

2% consumers prefer to buy their watch within the range of Rs.10,001 to Rs.15,000, there

are no consumers for the price range Rs.15,001 & above.


years.

Reasons ConsumersNecessity 43Luxury 6Both 1

0

5

10

15

20

25

30

35

40

45

50

Necessity Luxury Both

38 - 47

The graph shows that in age group of 38 to 47 years, 86% of the consumers said that

wearing a wristwatch is a necessity, while 12% of them say that it is a luxury and 2%

agree with both the option.

Table 3.22: Number of Factors influencing choice of consumers in the age group of 38 to 47 years.

Brands ConsumersTitan 34Timex 19Citizen 6Omega 1Rado 0H.m.t 0Maxima 5Esprit 9

0

5

10

15

20

25

30

35

40


38 - 47

The above graph shows that 46% of the consumers prefer wearing a Titan watch,26%

prefer timex, 12% prefer esprit, Citizen comes next with 8%,then Maxima is preferred by

7%.Whereas Omega, Rado and H.M.T is not that famous among the consumers in this

age group.

Table3.23: Sources of information for consumers in the age group of 38 to 47 years.

Sources ConsumersAdvertisements 32Electronic media 28Friends 11Salesman 1Others 2

0

5

10

15

20

25

30

35


38 - 47

In the above graph the source from where the consumer came to know about its watch is

shown. 43% of them got their information from advertisements, 38% got it from

electronic media, 15% heard about it from their friends, whereas salesman and other

sources helped 1% and 3% of consumers respectively.

Table 3.24: Factors influencing choice of consumers in the age group of 38 to 47 years.

Factors influencing choice ConsumersPrice 35Design 30Celebrity endorsement 12Durability 26Brand 24Personal income 15Trend 14After sales service 19Other 0

0

5

10

15

20

25

30

35

40



Other

38 - 47

The above graph shows the different factors influencing choice of consumers in the age

group of 38 to 47 years. 20% of consumers feel that price is an important factor to be

considered before buying a wrist watch, Design has influenced 17% of consumers,

Durability has influenced 15% of consumers, Brand has influenced 14% of consumers,

After sales service has influenced 11% of consumers, Personal income has influenced 9%

of consumers, Trend has influenced 8% of consumers, Celebrity endorsement has

influenced 7% of consumers.

Table 3.25: Price range of wristwatches preferred by consumers in the age group of 38 to

47 years.

Price range Consumers

500-1000 71001-5000 285001-10,000 710,001-15,000 415,000 & above 4

0

5

10

15

20

25

30

500 - 1000 1001 - 5000 5001 - 10000 10001 - 15000 15001 - above

38 - 47

The graph above shows the different price ranges preferred by consumers. 56%

consumers prefer to buy their wrist watch between the price range of Rs.1001 to Rs.5000,

14% of consumers prefer to buy their wrist watch between the price range of Rs.500 to

Rs.1000 and Rs.5001 to Rs.10, 000, 8% consumers prefer to buy their wrist watch

between the price range of Rs.10, 001 to Rs.15, 000 and Rs.15, 001 & above respectively.


years.


The graph above shows, that consumers in the age group of 48 to 57 years buy their wrist

watch as a necessity or luxury. 96% consumers wear their wristwatch as a necessity,

while remaining 4% feel that wearing a wristwatch is a luxury.

Table 3.27: Number of Factors influencing choice of consumers in the age group of

48 to 57 years.

Brands ConsumersTitan 40Timex 3

Citizen 23Omega 11Rado 11HMT 11Maxima 1Esprit 2

0

5

10

15

20

25

30

35

40

45


48 - 57

The graph above shows the different brand of watches preferred by consumers.39%

consumers prefer Titan, Citizen is preferred by 22% consumers, Omega, Rado & HMT

are preferred by 11% consumers, Timex by 3% consumers, Esprit by 2% consumers,

Maxima by 1% of consumers in the above age group.

Table 3.28: Sources of information for the consumers in the age group of 48 to 57 years.


0

5

10

15

20

25

30

35


48 - 57

The above graph shows the different sources of information for consumers in the age

group of 48 to 57. 38% consumers are influenced by Friends, while Electronic media

influences 31% consumers, Advertisement influences 19% consumers, Salesman

influence 10% consumers, Other sources of information influence 1% consumers in the

above age group.

Table 3.29: Factors influencing choice of the consumers in the age group of 48 to 57

years..

Factors ConsumersPrice 21

Design 38Celebrity endorsement 5Durability 29Brand 24Personal income 14Trend 13After sales service 22Other 0

0

5

10

15

20

25

30

35

40



Other

48 - 57

The above graph shows the different factors influencing choice. 23% consumers feel that

Design is an important factor to be considered before buying a wristwatch, Durability

influences 17% of consumers, Brand influences 14% of consumers, Price and After sales

service influence 13% consumers, Personal income and Trend influence 8% consumers,

Celebrity endorsement influences 3% of consumers.

Table 3.30: Price range preferred by consumers in the age group of 48 to 57 years. .

Price range Consumers500-1000 91001-5000 33

5001-10,000 510,001-15,000 115,000 & above 2

0

5

10

15

20

25

30

35

500 - 1000 1001 - 5000 5001 - 10000 10001 - 15000 15001 - above

48 - 57

The above graph shows the different price range preferred by consumers. 66% consumers

prefer buying their wrist watch between the price ranges of Rs.1001 to Rs.5000, 18%

consumers prefer the price range Rs.500 to Rs.1000, 10% consumers buy their wrist

watch within the price range of Rs.5001 to Rs.10,000, 4% consumers prefer to buy their

wrist watch in the price range of Rs.15,001 & above and 2% consumers prefer the price

range of Rs.10,001 to Rs.15,000.

Table3.31: Reasons for wearing a wristwatch by consumers in the age group of 58 and

above.


The graph above shows, that reasons for buying a wristwatch in the age group of 58 and

above. 94% consumers wear their wrist watch as a necessity, while remaining 6% feel

that wearing a wrist watch is a luxury.

Table 3.32:. Number of Factors influencing choice of consumers in the age group of 58

and above

Brands ConsumersTitan 35Timex 7Citizen 25Omega 7Rado 16HMT 14Maxima 6Esprit 5


group of 58 and above. 30% consumers prefer Titan, Citizen following by 22%, Rado

14%, HMT is preferred by 12% consumers, Timex and Omega is preferred by 6%

consumers, Maxima by 5% consumers and Esprit by remaining 4% consumers.

Table 3.33: Sources of information for the consumers in the age group of 58 and above.



consumers have bought their watch with the influence of Electronic media i.e. 29%, their

friends have influenced 28% of consumers. The choice of 24% consumers is because of

the salesman’s effort, 18% of consumers are influenced by Advertisement.

Table 3.34: Factors affecting choice of consumers in the age group of 58 and above.

Factors ConsumersPrice 26Design 35Celebrity endorsement 8Durability 23

Brand 20Personal income 14Trend 11After sales service 18Other 0

0

5

10

15

20

25

30

35

40



Other

58 - above

In the graph above the factor that has influenced the consumers the most is Design

influencing 23% of consumers, Price has influenced 17% of consumers, Durability has

influenced 15% of consumers, Brand has influenced 13% of consumers, After sales

service has influenced 12% of consumers, Personal income has influenced 9% of

consumers, Trend has influenced 7% of consumers, Celebrity endorsement has

influenced 5% of consumers.

Table 3.35: Price range preferred by consumers in the age group of 58 and above.

Price range Consumers500-1000 131001-5000 275001-10,000 510,001-15,000 215,000 & above 3

The above graph shows the different price ranges, which are preferred by consumers.

Most of the wrist watches bought by the consumers are between the price ranges of

Rs.1001 to Rs.5000 i.e. 54%, 26% consumers buy wrist watches from Rs.500 to Rs.1000,

10% consumers prefer to buy wrist watches between Rs.5001 to Rs.10,000, Rs.15,000 &

above 6% and Rs.10,001 to Rs.15,000 i.e. 4%.

CHAPTER 4

Summary and Conclusion

Out of 250 people we surveyed, 91% of them wear a watch as they feel it is a necessity

whereas the remaining 9% said wearing a watch is a luxury. 82% of the consumers in the

age group of 18 to 27 said that it is a necessity to wear a watch and 18% said that it is a

luxury. In the age group of 28 to 37, 96% of the consumers said that it is necessary to

wear a watch whereas 4% counted it as a luxury. In 38 to 47, 86% said that to wear a

watch is necessary, 12% said it is a luxury and 2% agreed with both. In the age group of

48 to 57 , 96% agreed that a watch is a necessity but 4% think it is a luxury. Of the

consumers of age 58 and above, 94% of the consumers said that wearing a watch is a

necessity while the remaining 6% said that it is a luxury. As per the males, 90% of them

think that sporting a watch is necessary whereas 10% of them said it is a luxury. As per

the females, 92% of them said that it is a necessity and the remaining 8% said that it is a

luxury. So we can conclude that a wristwatch is a necessity for majority of the consumers

irrespective of age and sex.

Of the 250 consumers that we have surveyed, we got to know that Titan (39%) is the

most preferred brand and is ahead of all the other brands. Next preferred brand is Citizen,

which is 16%. In the age group of 18 to 27, Titan is preferred by 43% and Timex comes

next at 16% in preference. Titan is still ahead at 42% in the age group of 28 to 37

followed by Timex at 17%. In the 38 to 47 age group, 46% prefer Titan next to which is

Timex at 26%. Titan is famous among the age groups of 48 to 57 as well as 58 and above

by 39% and 30% respectively. While Citizen comes next for both the groups at 22%. In

the males, Titan is preferred by 40% and 17% prefer Citizen while in females, 39% prefer

Titan and Citizen is preferred by 15%. From the above observation we can conclude ,

Titan is the most famous and most preferred brand in Goa.

The factors determining the preference of the 250 consumers in general are Design (22%)

and Price (17%). In the age group of 18 to 27, the factors affecting the preference seem to

be Brand i.e. 27% followed by Durability, which is 22%. While the factors determining

the preference of brands in the age group of 28 to 37 are Design i.e. 22% and Price

preferred by 19% of consumers. In the age group of 38 to 47, the factors are Price i.e.

20% and Design, which is 17%. In the next group that is 48 to 57, Design is taken into

consideration by 23% of consumers next to which Durability i.e. is seen by 17% of the

consumers. In the age group of 58 and above, Design is the factor affecting preference by

23% and next factor is Price by 17%. In the male category the factors determining

preference are Design by 22% of consumers and Durability is considered by 18% of

consumers. While in the female category the factors of preference are Design 20% and

Brand 17%. The above pattern suggests that there is no uniformity as far as factors

determining preference are concerned. Though Design of a watch can be considered as

one of the important factors.

Out of the 250 consumers we surveyed, the price ranges preferred by then in general are

Rs.1001 to Rs.5000 i.e. 60% of consumers and Rs.500 to Rs.1000 i.e. 17% of consumers.

While in the age group of 18 to 27, Rs.1001 to Rs.5000 price range is preferred by 80%

of consumers and 14% of consumers prefer Rs.500 to Rs.1000. In the age group of 28 to

37, the range of Rs.1001 to Rs.5000 is preferred by 47% of consumers and Rs.500 to

Rs.1000 is preferred by 28% of consumers. In 38 to 47 age group, 56% of consumers

prefer the ranges varying from Rs.1001 to Rs.5000 and 14% of consumers prefer Rs.500

to Rs.1000. In the age of 48 to 57, Rs.1001 to Rs.5000 range is preferred by 66% of

consumers and Rs.500 to Rs.1000 is preferred by 18% of consumers. The price range of

Rs.1001 to Rs.5000 is preferred by 54% of consumers and Rs.500 to Rs.1000 is preferred

by 26% of consumers of the ages of 58 and above. In males, Rs.1001 to Rs.5000 is

preferred by 62% of consumers and Rs.500 to Rs.1000 is preferred by 18% of consumers.

While in the females 62% prefer the price range of Rs.1001 to Rs.5000 and 17% of

consumers prefer Rs.500 to Rs.1000. From the above conclusion we can say that

consumers of Goa prefer to but watches mostly in the price range of Rs.1001 to Rs.5000.

The sources, which have influenced the preference for watches of 250 consumers, in

general are Advertisements i.e. 35% and Electronic media, which influenced 28% of

consumers. In the age group of 18 to 27, the sources of influence are Advertisements i.e.

63% and Electronic media, which influenced 18% of consumers. In the age of 28 to 37,

the sources are again Advertisements i.e. 45% and Electronic media, which influenced

28% of consumers. In the age group of 38 to 47, 43% came to know of their watches

through Advertisements and 38% through Electronic media. Friends influenced 38% of

the consumers in the age group of 48 to 57 while the other source was Electronic media

31%. Electronic media 29% and their Friends influenced the elderly consumers of ages of

58 and above by 28%. The males were influenced by the Advertisements i.e. 37% and

Electronic media influenced 29% of consumers. While in the females 34% were

influenced by Advertisements and 28% by Electronic media. The Advertisements have

mostly influenced and given information to the consumers and helped them to choose

their watch.

With the help of the following observation we can assume that most people wear a watch

because it is necessary, Titan is the most famous brand among Goan consumers, Design

determines the preference of each and every consumer, the price range of Rs.1001 to

Rs.5000 is preferred by the consumers and that Advertisements have influenced

consumers the most.

watches

Documents

consumer preference

watch of consumers

general of consumers

consumer commitment

citizen watch company

project study

consumers willingness

limitation of study