Professional Documents
Culture Documents
Marketing Management
Marketing research Report
on watches
CONTENTS
ACKNOWLEDGEMENT………………………..3
PREFACE…………………………………………4
OBJECTIVES……………………………………..6
RESEARCH PLAN……………………………….7
ANALYSIS OF QUESTIONNAIRE…………….8
SWOT ANALYSIS……………………………….23
LIMITATIONS……………………………….....24
CONCLUSION………………………………....25
QUESTIONNAIRE……………………………….26
3
ACKNOWLEDGEMENT
We would like to thank our faculty Prof. Ajeet Sharma for giving us the
opportunity to expel and work in the field of Marketing while doing the
research.
This report provided us the exposure to the real market and consumers in
the prevailing market. A well combination of theory and practice helped
us in compiling this report on marketing research.
We would like to give our gratitude and regards to all the consumers
who cooperated with us in giving their individual feedback towards the
product to reach a conclusion.
4
PREFACE
OBJECTIVES
Data source:
Primary data has been gathered to conduct the research.
Research approaches:
As mentioned earlier, survey has been conducted to gather the primary
data.
Research instrument:
Questionnaire has been taken as the Research instrument
Design of questionnaire:
The questionnaire is designed in a structured manner keeping in mind all
the basic steps for construction of a questionnaire and considering all the
scales.
Sample Plan:
Sampling unit: Information is gathered from various sampling units.
They are:
Students
Self employed people
Professionals
Businessmen
Housewives
Sample size:
Sample size of 100 customers consists from the following areas:
College
Restaurants
Shopping malls
Apartments
8
No. of Percentage
Types users
Sports watch 20 20
Digital watch 6 6
Single Strap 18 18
Chain watch 32 32
Bracelet watch 16 16
Others 8 8
Total 100 100
Observation:
It is observed that chain watches are preferred over other types of
watches. Generally, bracelet watches are preferred by females and
sports watch by young generation most of which comprises of males.
9
No. of Percentage
Type users
An accessory 46 46
A necessity 54 54
Observation:
In this question it is observed that the product watch is looked after as
a necessity over an accessory. Although there is not much difference
between the percentages, because user’s with their individual choice
went for the suitable option.
10
Q3. Do you prefer a cell phone over your watch for referring
time?
No. of Percentage
Answer users
Yes 56 56
No 44 44
Observation:
More than 50% people do prefer cell phones over a watch and 44%
people do not prefer cell phones. This shows that the demand for the
watch is prevailing less in the market.
No. of Percentage
Features users
Quality 48 48
Price 22 22
Brand image 34 34
Style/ Design 60 60
Warranty 18 18
11
Observation:
A single feature is not considered by the users, but more than 3
features are opted by them. This is the reason that we can see varied
number of users and percentages. In the survey 60% people go for
design over all other features while 48% for quality, thereby ignoring
price which is just at 22%. Warranty is at its minimum and brand
image is a bit higher as compared to it. All this depicts that design is
the most important feature for customers.
Q5. For what level does the warranty of a watch affect you while
making a purchase?
No. of Percentage
Level users
Priority 22 22
Often 38 38
Rarely 16 16
Does not affect 24 24
Total 100 100
12
Observation:
It is observed that for 38% people warranty of a watch affects very
often, for 22% it is their priority, for 16% people warranty is a rare
affect and for 24% warranty does not affect at all.
No. of Percentage
Brands users
Titan 44 44
Timex 16 16
TAG Heuer 13 13
Fast track 15 15
Others 12 12
Total 100 100
13
Observation:
Maximum number of people are using Titan that makes 44% of the
total users, and then second most preferred brand is Timex the
demand being for it is 16%, Tag Heuer being at 13% and Fast track at
15% and the other brands taking a share of 12%.
No. of Percentage
Brands users
Newspaper/ Magazine 10 10
Electronic media 12 12
Banners/Hoardings 2 2
Friends/ family 20 20
Self Decision 56 56
Total 100 100
14
Observation:
More than 50% users made their purchase on the basis of their own
decision without getting influenced by any promotional factors, while
20% by the suggestion of friends/ family, 10% by newspaper, 12% by
electronic ads and only 2% by Banners and hoardings. This shows that
the buying decision of a watch is not much affected by the promotional
strategies of the company. In fact major 0f the population rely on their
own when they think of making a purchase for a watch.
No. of Percentage
Answer users
Yes 65 65
No 35 35
15
Observation:
Here the ratio is almost equal as 65% people say that their buying
decision is affected by the publicity of celebrities for watches while
35% say it does not affect their buying decision.
Q9. Are you satisfied with the brand that you are using?
No. of Percentage
Answer users
Yes 96 96
No 4 4
16
Observation:
96% people said that they are satisfied with their existing brand while
only 4% said no, so there is not much scope of them to change their
brand. When new offers would be available with other brands, only
then, they will think to switch over the brands.
Observation:
As only 4% users are not satisfied with their existing brands, so
there are no more suggestions to be given, except one that the
watches should come up with more trends.
No. of Percentage
Features users
Day, month and date 16 16
Stop watch 12 12
Alarm 40 40
Temperature 32 32
Total 100 100
17
Observation:
40% people want alarm as an additional feature in their watch. 32%
would like to have the temperature feature to be added, 16% needs
day, month and date and 12% wants stop watch facility in their
watches. It is observed that all the added features are well in demand.
Observation:
50% says they change their brand depending on their mood or with
any new scheme in the market, 28% people are brand loyal and does
not prefer to switch off, 16% look for affordability before switching and
only 6% people change their brand very often. So with the new options
available and convenience of people they change their brand.
18
No. of Percentage
Brands users
Titan 26 26
Timex 21 21
TAG Heuer 15 15
Fast track 20 20
Others 18 18
Total 100 100
Observation:
Out of the brands considered for the survey, 26% of the people wants
to go for a purchase of titan if given a chance as Titan already captures
a lot of its existing customers, another 21% wish to switch to Timex,
for Tag Heuer that are high income group luxury watches with high
19
price tags 15% is the statistics, . 20% wants to go for Fast Track and
18% wants to go in for other brands.
Q14. How would you rate your watch on the basis of following
features? (Rank on a scale of 1-5)
Observation:
Design has got the highest rating by 80% people, and then people gave
the second priority to quality after which warranty followed by price is
preferred, leaving color at the end. This depicts that price is not the
20
top most priority for the users while they consider design as the
most important aspect.
AGE
No. of Percentage
Age users
20 or less 2 2
21-28 78 78
29-38 10 10
Over 39 10 10
Total 100 100
21
Observation:
The survey comprises of people from different age groups but the
highest percent of people within the age of 21 and 28 took active
participation in the survey and showed their immense cooperation.
Only 12% of them were between the age of 29-39, 8% of them were
over 39 years of age and only 2% were less than 20.
SEX
No. of Percentage
Sex users
Male 64 64
Female 36 36
Observation:
The ratio of participation of males and females in the survey is 64:36
which shows that males took more participation in the survey as
compared with females.
INCOME GROUP
No. of Percentage
Income group users
100000-150000 16 16
150000-175000 30 30
175000-250000 26 26
250000 & above 28 28
Total 100 100
22
Observation:
Only 16% from lower income group participated in the survey and
30% of the people are from the lower middle income group, 26% from
higher middle income group and 28% from higher income group. This
shows that higher and middle income group people were almost equal
in number for participation.
23
Strengths
• Watch industry is growing at the rate of 30% every year.
• As population is rising, the watch market is also expanding.
• Customers are not very price sensitive as far as quality watch is
concerned.
Weakness
Opportunity
• People are using it as a fashion accessory which means more demand for
the product.
• Youth of India are far more brand conscious than their successor. That can
lead to the expansion of the market for branded watches.
Threats
LIMITATION
• This study has been done only in the South Delhi and hence cannot be
representative of Delhi as a whole.
• Sample size is very small it might not cover whole targeted population.
• The primary data is limited and is constrained by the availability and
approachability.
• The information given by the respondents may not be correct as some were
rarely interested and gave some rough ideas for the sake of answering.
• Due to paucity of time, it was impossible to know the interest of a large
number of respondents.
25
CONCLUSION
After making the analysis and observation from the survey conducted
and information gathered from various customers about different
brands of watches, it is concluded that Titan is the most commonly
used brand by all the watch users. Timex is the second and best
priority for higher middle income group.
Fast Track being not so demanded remains on an average
position.This survey also gives information about the existing features
and some added features desired by customers that are to be
introduced by the companies.
Now a days, watches are facing serious competition with cell phone for
referring time, but with the cut throat competition all the leading
brands of watches are managing well in the market and this shows
that the charm of watches can never end whether it is an accessory for
some and necessity for others.
QUESTIONNAIRE
Kindly spare your precious time to fill this questionnaire.
3. Do you prefer a cell phone over your watch for referring time?
Yes No
Price
Quality
Brand
Style/Design
Image
warranty
5. For what level does the warranty of a watch affect you while making a
purchase?
Priority Often
Does
not
Rarely
affect
6. Which brand of watch are you currently using?
Timex
Titan
Tag
Fats Track
Heur
Others,
specify
Yes No
9. Are you satisfied with the brand that you are using?( if yes, jump to Q.11)
Yes No
10. If no, what more is needed to make your watch suitable according to you?
____________________________________________________________
__________________________.
Temperature
Alarm
Depends
Very Often on
mood
Brand
Affordability
loyal
13. If given a chance to change your watch, you would go for?
Timex
Titan
Tag
Fast Track
Heur
Others,
specify
14. How would you rate your watch on the basis of following features? (Rank
on a scale of 1-5)
Design Price
28
Quality Warranty
Others,
Colour specify
Name ___________________.
Contact No.________________.
Age
20 or less 21 - 28 29 -38
Over 39
Sex
Male Female
Occupation ____________________.
Income group(annual)
1,00,000- 1,50,0000- 1,75,0000-
1,50,000 1,75,000 2,50,000
2,50,000 &
above