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CONSUMER BUYING BEHAVIOUR OF WRIST WATCHES

Presented byAnkita Srivastava Sushmita Jayaswal Shalini Kumari Nissi Kumari Pinky Kumari Rajan Dasgupta

About WRIST WATCH market in India..
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Watches are no longer just time-keeping devices.

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.

From being a “Need”, wrist watch has turned to became a “Demand”.
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The Indian watch market has matured over the years and has seen a paradigm shift, keeping abreast with international trends.
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Different brands with different technology, design and innovations have entered into the market.
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Indian consumers have evolved considerably with time and their aspirations are now global.
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It is important for companies to determine the most favourable features for their product that can optimize the level of satisfaction. o . Consumers reach their final purchase choice. not on a single attribute but on multi-attribute.CONSUMER PREFERENCES FOR WRIST WATCHES o o There is a lot of personal preference with a watch.

OBJECTIVE OF STUDY Analysing the market leader in wrist watches. Place & Promotion) influences the consumer behaviour in making the buying . Price. studying how its 4 P's (Product.

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. • Post purchase behaviour. • Purchase decision. .

FACTORS INFLUENCING CONSUMER BUYING PROCESS CULTURAL PERSONAL • SubCulture • Social Class PSYCHOLOGICAL SOCIAL • Culture • Reference Groups • Family • Roles & Status • Age & LifeCycle Stage • Occupation & Economic Situation • Lifestyle • Personality & Self-Concept • Motivation • Perception • Learning • Belief & Attitude .

The gross sample size of the survey is 80 people..T. The study was conducted in and around B. .I. A self-administered questionnaire was developed and utilized to elicit data from the sample respondents.RANCHI & THE WRIST WATCH MARKET SURVEY The study was carried out using the survey approach.Mesra (Ranchi).

WRIST WATCHES BRANDS IN INDIA .

Durability 5.Negligible 1.Casio ⃝ 7.More than Rs5000 Question: What is your reason for buying a new wrist watch? 1.Within last year 2.Brand Image 6.I.Price 2.Others ⃝ .Long Warranty Period Question: What is the price range of your wrist watch? 1.Gucci ⃝ 6.Least Important 1.Requirement 2.QUESTIONNAIRE CIRCULATED IN RANCHI (in and around B.Fossil ⃝ 8.Company Showroom 2.Timex ⃝ 3..Titan ⃝ 2.Better model in market 4.Between last 2 to 5 years 3.Between Rs1000 & Rs5000 3.Style statement 3.Less Important 1.Before last 5 years ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ Question: If given a chance to swich your wrist watch brand. you have a likelihood to go for which brand? 1.Advertisement 5.Gifting Question: Where did you buy your wrist watch from? 1. 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: Who\What influenced your buying behaviour? 4.Mesra) (opinion survey) NAME:________________________________________________________ GENDER:______________ AGE: ⃝ Below 18 ⃝ 19-25 ⃝ 26-35 ⃝ 36-50 ⃝ Above 50 Occupation: ⃝ Private ⃝ Buisness ⃝ Govt.Neutral 2.Family 3.Rado ⃝ 5.Slightly 1.Appearance 3.Rolex ⃝ 4.Less than RS1000 2.Water Resistivity 4.Self 2.Very Important 4.Friends 4.Online ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ ⃝ Question: When did you make the last purchase of a wrist watch? 1.Celebrity Endorsement Question: Rate the factors.T. 5.Highly 3.Imporant 3.Modertly 2.according to your preference that you considered while making the purchase.Retail Shop 3.

• 5% 46% .SUMMARY OF THE QUESTIONNAIRE INFERENC ES • As per age 22% 5% 46% Buying & usage of wrist watch is more prominent in 20% Below 18 19-25 26-35 As per gender 37% Male Femal e 63% male customers. • 7% 36-50 age group of 19-25 years. • As per occupation 12% 37% Working Student Housewi fe students & proffesionals.

FACTORS CONSIDERED BY DIFFERENT AGE GROUPS WHILE BUYING A WRIST WATCH Above 50 36-50 26-35 19-25 Below 18 Brand Image Warranty Period Asethetic Appeal Price 0 1 2 3 4 5 Priority level .

FACTORS CONSIDERED BY DIFFERENT OCCUPATION GROUPS WHILE BUYING A WRIST WATCH Retired Housewife Student Brand Image Warranty Period Asethetic Appeal Price Working 0 1 2 3 Priority level 4 5 .

.INFLUENCE OF PRICE ON THE MODE OF PAYMENT 13% 58% ONLINE PAYMENT 29% Less than Rs1000 Rs1000-5000 Above Rs5000 *Online payment covers just 11% of the total purchase.

REASON FOR BUYING A WRIST WATCH (AS PER AGE) Gifting Better Model Available Style Statement Above 50 36-50 26-35 19-25 Below 18 Requirement 0 1 2 3 4 5 .

REASON FOR BUYING A WRIST WATCH (AS PER OCCUPATION) Gifting Better Model Available Style Statement Retired Housewife Student Working Requirement 0 1 2 3 4 5 .

Celebrity Endrosement Advertisement Friends Family Self 0 1 2 3 Priority level 4 .WHAT/WHO INFLUENCES THE BUYING BEHAVIOR? INFERENCE • The buying decision is primarily affected by friends. • Family & the celebrity involved in advertisement is also an important influencer.

FREQUENCY OF PURCHASE Duration of last purchase 14% Within last year 1-2years 2years and above 54% 32% .

MOST PREFFERED WRIST WATCH BRAND Others Fossil Casio Gucci Rado Rolex Timex Titan 0 2 4 6 8 10 .

brand (Indian). Students are the largest segment of buyers. Findings indicate that friends.000). mode of payment (cash payment) and warranty (1-2 years). The most important attributes influencing purchase of watches were its aesthetic appeal. purchase need. Consumers have no preference for internet shopping for watches priced above Rs. outlet (company showroom).000-5.CONCLUSIONS (drawn from the survey)     Male watch buyers far outnumber females. celebrities associated with the product effect the self decision and new watch introduction have little impact. 5.1. .000. price category (Rs.

. medium priced(as “Fastrack”)and high priced watches (as “Nebula”).. namely as low priced (under brand • “Sonata”).MOST PREFFERED WRIST WATCH IN RANCHI. • available in different price segments. TITAN The brand Titan is committed to offering its consumers watches that represent the compass of their imagination. backed by 700 after−sales−service centres. • effective philosophies “Be More”. • 247 exclusive showrooms. world−class design product and constantly inventing new trends in wrist watches. “Less is More” and applauded celebrity endorsement.

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