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CONSUMER
BUYING
BEHAVIOUR
OF WRIST
WATCHES
     Presented by-
     Ankita Srivastava
     Sushmita
     Jayaswal
     Shalini Kumari
     Nissi Kumari
     Pinky Kumari
     Rajan Dasgupta
About WRIST WATCH market in
India..
o   Watches are no longer just time-keeping devices.

o Going beyond its generic role, wrist watches now
focuses on performing a voguish role as a fashion
accessory that helps in making a self-expressive
style statement.

oFrom being a “Need”, wrist watch has turned to
became a “Demand”.

oThe Indian watch market has matured over the
years and has seen a paradigm shift, keeping
abreast with international trends.

oDifferent brands with different technology, design
and innovations have entered into the market.

o Indian consumers have evolved considerably with
time and their aspirations are now global.
CONSUMER PREFERENCES
FOR WRIST WATCHES
o   There is a lot of personal preference with a watch.
o Consumers reach their final purchase choice, not on a
single attribute but on multi-attribute.
o It is important for companies to determine the most
favourable features for their product that can optimize the
level of satisfaction.
OBJECTIVE OF STUDY



Analysing the market
leader in wrist
watches, studying how its
4 P's
(Product, Price, Place &
Promotion) influences the
consumer behaviour in
CONSUMER BEHAVIOUR
Buying Behaviour is the decision processes
and acts of people involved in buying and
using products.

There are five stages of consumer purchase
behaviour :
• Problem/Need Recognition
• Information search.
• Evaluation of purchases.
• Purchase decision.
• Post purchase behaviour.
FACTORS INFLUENCING CONSUMER BUYING
PROCESS




             • Culture            • Reference              • Age & Life-                     • Motivation




                                                                             PSYCHOLOGICAL
  CULTURAL




                                                PERSONAL
                         SOCIAL

                                    Groups                   Cycle Stage
             • Sub-                                                                          • Perception
               Culture            • Family                 • Occupation &
                                                             Economic                        • Learning
             • Social             • Roles &                  Situation
               Class                Status                                                   • Belief &
                                                           • Lifestyle                       Attitude
                                                           • Personality &
                                                             Self-Concept
RANCHI & THE WRIST WATCH
MARKET SURVEY
The study was carried out using the survey
approach. A self-administered questionnaire was
developed and utilized to elicit data from the
sample respondents.

The gross sample size of the survey is 80 people.
The study was conducted in and around
B.I.T.,Mesra (Ranchi).
WRIST WATCHES BRANDS IN
INDIA
QUESTIONNAIRE CIRCULATED
  IN RANCHI (in and around B.I.T.,Mesra)
  (opinion survey)
                              NAME:________________________________________________________ GENDER:______________
                              AGE: ⃝ Below 18 ⃝ 19-25 ⃝ 26-35 ⃝ 36-50 ⃝ Above 50
                              Occupation: ⃝ Private ⃝ Buisness ⃝ Govt. Service ⃝ Student ⃝ Housewife ⃝ Retired

Question: Do you use a wrist watch? Which brand(s) If more than one?

Question: Are you satisfied with your wrist watch?                       ⃝ Yes                         ⃝ No

Question: Rate the factors,according to your preference that you considered while
making the purchase.                                                                                           Question: WhoWhat influenced your buying behaviour?
5.Very Important 4.Imporant 3.Neutral 2.Less Important 1.Least Important                                       4.Highly 3.Modertly 2.Slightly 1.Negligible
                                                                                                               1.Self                                                                                   ⃝
 1.Price                                                                                                       2.Family                                                                                     ⃝
 2.Appearance                                                                                                  3.Friends                                                                            ⃝
 3.Water Resistivity                                                                                           4.Advertisement                                                                                      ⃝
 4.Durability                                                                                                  5.Celebrity Endorsement                                                                          ⃝
 5.Brand Image
 6.Long Warranty Period
                                                                                                               Question: When did you make the last purchase of a wrist watch?
 Question: What is the price range of your wrist watch?                                                        1.Within last year                                                                                       ⃝
 1.Less than RS1000                                                        ⃝                                   2.Between last 2 to 5 years                                                                                  ⃝
 2.Between Rs1000 & Rs5000                                                 ⃝                                   3.Before last 5 years                                                                                    ⃝
 3.More than Rs5000                                                        ⃝

 Question: What is your reason for buying a new wrist watch?                                                  Question: If given a chance to swich your wrist watch brand, you have a likelihood to
 1.Requirement                                                                         ⃝                      go for which brand?
 2.Style statement                                                                 ⃝                          1.Titan                                                                                    ⃝
 3.Better model in market                                                      ⃝                              2.Timex                                                                            ⃝
 4.Gifting                                                                                                    3.Rolex                                                                              ⃝
                                                                                                              4.Rado                                                                                       ⃝
                                                                                                              5.Gucci                                                                          ⃝
 Question: Where did you buy your wrist watch from?                                                           6.Casio                                                                        ⃝
 1.Company Showroom                                                                            ⃝              7.Fossil                                                                               ⃝
 2.Retail Shop                                                                                     ⃝          8.Others                                                                                 ⃝
 3.Online                                                                                  ⃝
SUMMARY OF THE
QUESTIONNAIRE
INFERENC
•                       As per age           Below
ES                                                      As per gender
                  22%           5%           18
                                                      37%
                                       46%   19-25
 Buying &
usage of wrist                                                         Male
watch is more
                                             26-35
prominent in                                                           Femal
                 20%                         36-50                     e
                                  7%
•male                                                            63%
customers.

•age group of
                                        As per occupation
19-25 years.                      12%                  Working
                                                37%
•students &
proffesionals.             5%                          Student

                                                       Housewi
                            46%                        fe
FACTORS CONSIDERED BY DIFFERENT AGE
GROUPS WHILE BUYING A WRIST WATCH



Above 50


   36-50
                                            Brand Image
   26-35                                    Warranty Period
                                            Asethetic Appeal
   19-25                                    Price


Below 18


           0   1   2        3       4   5
                   Priority level
FACTORS CONSIDERED BY DIFFERENT
OCCUPATION GROUPS WHILE BUYING A
WRIST WATCH



  Retired


Housewife
                                             Brand Image
                                             Warranty Period
                                             Asethetic Appeal
  Student
                                             Price

 Working


            0   1    2       3       4   5
                    Priority level
INFLUENCE OF PRICE ON THE MODE OF
PAYMENT




         13%



               ONLINE    29%       Less than Rs1000
               PAYMENT             Rs1000-5000
   58%
                                   Above Rs5000




                          *Online payment covers just 11%
                          of the total purchase.
REASON FOR BUYING A WRIST WATCH
(AS PER AGE)


               Gifting


Better Model Available                           Above 50
                                                 36-50
                                                 26-35
      Style Statement                            19-25
                                                 Below 18

         Requirement


                         0   1   2   3   4   5
REASON FOR BUYING A WRIST WATCH
(AS PER OCCUPATION)




               Gifting



Better Model Available                           Retired
                                                 Housewife
                                                 Student
      Style Statement                            Working



         Requirement


                         0   1   2   3   4   5
WHAT/WHO INFLUENCES THE BUYING
   BEHAVIOR?


   INFERENCE
                     Celebrity Endrosement
• The buying
decision is
primarily affected          Advertisement
by friends.

• Family & the                     Friends
celebrity involved
in advertisement                   Family
is also an
important
influencer.                           Self

                                             0   1        2       3   4
                                                     Priority level
FREQUENCY OF PURCHASE

    Duration of last purchase

        14%

                                Within last year
                54%
  32%                           1-2years
                                2years and above
MOST PREFFERED WRIST WATCH BRAND


Others
Fossil
 Casio
 Gucci
 Rado
 Rolex
Timex
 Titan

         0   2   4   6     8       10
CONCLUSIONS (drawn from the
survey)

   Male watch buyers far outnumber females. Students are
    the largest segment of buyers.
   The most important attributes influencing purchase of
    watches were its aesthetic appeal, brand (Indian), price
    category (Rs.1,000-5,000), outlet (company
    showroom), purchase need, mode of payment (cash
    payment) and warranty (1-2 years).
   Findings indicate that friends, celebrities associated with
    the product effect the self decision and new watch
    introduction have little impact.
   Consumers have no preference for internet shopping for
    watches priced above Rs. 5,000.
MOST PREFFERED WRIST WATCH IN
RANCHI..
              TITAN
              The brand Titan is committed to offering
              its consumers watches that represent
              the compass of their imagination.
              •world−class design product and constantly
              inventing new trends in wrist watches.
              available in different price
              •
              segments, namely as low priced (under
              brand “Sonata”), medium priced(as
              “Fastrack”)and high priced watches (as
              “Nebula”).
              • effective philosophies “Be More”, “Less is
              More” and applauded celebrity endorsement.
              • 247 exclusive showrooms, backed by 700
              after−sales−service centres.
THANK
YOU..

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101137705 consumer-buying-behaviour-of-wrist-watches

  • 1. CONSUMER BUYING BEHAVIOUR OF WRIST WATCHES Presented by- Ankita Srivastava Sushmita Jayaswal Shalini Kumari Nissi Kumari Pinky Kumari Rajan Dasgupta
  • 2. About WRIST WATCH market in India.. o Watches are no longer just time-keeping devices. o Going beyond its generic role, wrist watches now focuses on performing a voguish role as a fashion accessory that helps in making a self-expressive style statement. oFrom being a “Need”, wrist watch has turned to became a “Demand”. oThe Indian watch market has matured over the years and has seen a paradigm shift, keeping abreast with international trends. oDifferent brands with different technology, design and innovations have entered into the market. o Indian consumers have evolved considerably with time and their aspirations are now global.
  • 3. CONSUMER PREFERENCES FOR WRIST WATCHES o There is a lot of personal preference with a watch. o Consumers reach their final purchase choice, not on a single attribute but on multi-attribute. o It is important for companies to determine the most favourable features for their product that can optimize the level of satisfaction.
  • 4. OBJECTIVE OF STUDY Analysing the market leader in wrist watches, studying how its 4 P's (Product, Price, Place & Promotion) influences the consumer behaviour in
  • 5. CONSUMER BEHAVIOUR Buying Behaviour is the decision processes and acts of people involved in buying and using products. There are five stages of consumer purchase behaviour : • Problem/Need Recognition • Information search. • Evaluation of purchases. • Purchase decision. • Post purchase behaviour.
  • 6. FACTORS INFLUENCING CONSUMER BUYING PROCESS • Culture • Reference • Age & Life- • Motivation PSYCHOLOGICAL CULTURAL PERSONAL SOCIAL Groups Cycle Stage • Sub- • Perception Culture • Family • Occupation & Economic • Learning • Social • Roles & Situation Class Status • Belief & • Lifestyle Attitude • Personality & Self-Concept
  • 7. RANCHI & THE WRIST WATCH MARKET SURVEY The study was carried out using the survey approach. A self-administered questionnaire was developed and utilized to elicit data from the sample respondents. The gross sample size of the survey is 80 people. The study was conducted in and around B.I.T.,Mesra (Ranchi).
  • 9. QUESTIONNAIRE CIRCULATED IN RANCHI (in and around B.I.T.,Mesra) (opinion survey) NAME:________________________________________________________ GENDER:______________ AGE: ⃝ Below 18 ⃝ 19-25 ⃝ 26-35 ⃝ 36-50 ⃝ Above 50 Occupation: ⃝ Private ⃝ Buisness ⃝ Govt. Service ⃝ Student ⃝ Housewife ⃝ Retired Question: Do you use a wrist watch? Which brand(s) If more than one? Question: Are you satisfied with your wrist watch? ⃝ Yes ⃝ No Question: Rate the factors,according to your preference that you considered while making the purchase. Question: WhoWhat influenced your buying behaviour? 5.Very Important 4.Imporant 3.Neutral 2.Less Important 1.Least Important 4.Highly 3.Modertly 2.Slightly 1.Negligible 1.Self ⃝ 1.Price 2.Family ⃝ 2.Appearance 3.Friends ⃝ 3.Water Resistivity 4.Advertisement ⃝ 4.Durability 5.Celebrity Endorsement ⃝ 5.Brand Image 6.Long Warranty Period Question: When did you make the last purchase of a wrist watch? Question: What is the price range of your wrist watch? 1.Within last year ⃝ 1.Less than RS1000 ⃝ 2.Between last 2 to 5 years ⃝ 2.Between Rs1000 & Rs5000 ⃝ 3.Before last 5 years ⃝ 3.More than Rs5000 ⃝ Question: What is your reason for buying a new wrist watch? Question: If given a chance to swich your wrist watch brand, you have a likelihood to 1.Requirement ⃝ go for which brand? 2.Style statement ⃝ 1.Titan ⃝ 3.Better model in market ⃝ 2.Timex ⃝ 4.Gifting 3.Rolex ⃝ 4.Rado ⃝ 5.Gucci ⃝ Question: Where did you buy your wrist watch from? 6.Casio ⃝ 1.Company Showroom ⃝ 7.Fossil ⃝ 2.Retail Shop ⃝ 8.Others ⃝ 3.Online ⃝
  • 10. SUMMARY OF THE QUESTIONNAIRE INFERENC • As per age Below ES As per gender 22% 5% 18 37% 46% 19-25 Buying & usage of wrist Male watch is more 26-35 prominent in Femal 20% 36-50 e 7% •male 63% customers. •age group of As per occupation 19-25 years. 12% Working 37% •students & proffesionals. 5% Student Housewi 46% fe
  • 11. FACTORS CONSIDERED BY DIFFERENT AGE GROUPS WHILE BUYING A WRIST WATCH Above 50 36-50 Brand Image 26-35 Warranty Period Asethetic Appeal 19-25 Price Below 18 0 1 2 3 4 5 Priority level
  • 12. FACTORS CONSIDERED BY DIFFERENT OCCUPATION GROUPS WHILE BUYING A WRIST WATCH Retired Housewife Brand Image Warranty Period Asethetic Appeal Student Price Working 0 1 2 3 4 5 Priority level
  • 13. INFLUENCE OF PRICE ON THE MODE OF PAYMENT 13% ONLINE 29% Less than Rs1000 PAYMENT Rs1000-5000 58% Above Rs5000 *Online payment covers just 11% of the total purchase.
  • 14. REASON FOR BUYING A WRIST WATCH (AS PER AGE) Gifting Better Model Available Above 50 36-50 26-35 Style Statement 19-25 Below 18 Requirement 0 1 2 3 4 5
  • 15. REASON FOR BUYING A WRIST WATCH (AS PER OCCUPATION) Gifting Better Model Available Retired Housewife Student Style Statement Working Requirement 0 1 2 3 4 5
  • 16. WHAT/WHO INFLUENCES THE BUYING BEHAVIOR? INFERENCE Celebrity Endrosement • The buying decision is primarily affected Advertisement by friends. • Family & the Friends celebrity involved in advertisement Family is also an important influencer. Self 0 1 2 3 4 Priority level
  • 17. FREQUENCY OF PURCHASE Duration of last purchase 14% Within last year 54% 32% 1-2years 2years and above
  • 18. MOST PREFFERED WRIST WATCH BRAND Others Fossil Casio Gucci Rado Rolex Timex Titan 0 2 4 6 8 10
  • 19. CONCLUSIONS (drawn from the survey)  Male watch buyers far outnumber females. Students are the largest segment of buyers.  The most important attributes influencing purchase of watches were its aesthetic appeal, brand (Indian), price category (Rs.1,000-5,000), outlet (company showroom), purchase need, mode of payment (cash payment) and warranty (1-2 years).  Findings indicate that friends, celebrities associated with the product effect the self decision and new watch introduction have little impact.  Consumers have no preference for internet shopping for watches priced above Rs. 5,000.
  • 20. MOST PREFFERED WRIST WATCH IN RANCHI.. TITAN The brand Titan is committed to offering its consumers watches that represent the compass of their imagination. •world−class design product and constantly inventing new trends in wrist watches. available in different price • segments, namely as low priced (under brand “Sonata”), medium priced(as “Fastrack”)and high priced watches (as “Nebula”). • effective philosophies “Be More”, “Less is More” and applauded celebrity endorsement. • 247 exclusive showrooms, backed by 700 after−sales−service centres.