research project on titan watch

7/25/2019 research project on titan watch

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INDEX

CHAPTER

No.

PARTICLUALRS PAGE

No.

1. EXECUTIVE SUMMARY 2

2. INDUSTRY PROFILE 3

3. OBJECTIVE OF STUDY 5

4. SCOPE OF THE STUDY 6

5. RESEARCH METHODOLOGY 7

6. PRODUCT PROFILE 14

7.ANALYSIS OF DATA

16

8. FINDINGS 19

9.

RECOMMENDATION AND SUGGESTIONS

20

10. CONCLUSION 21

11. BIBLIOGRAPHY 22

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EXECUTIVE SUMMARY

The study was done for Titan Watches. Today Titan is the market eader of

watch industry in !ndia. The "ro#ect was undertaken to study the market anaysis of

Titan Watches and it$s co %rand &onata. !t incudes market share anaysis of a Titan

Watches' and %rand awareness and %rand "reference. ( deaer sur)ey was aso

conducted for studyin* the com"etition in watch market.

The customers were aimed at understandin* of their "erce"tions and how

much aware a%out Titan + &onata.!t aso anaysis the "urchase decision and %rand

awareness of )arious to"%rand watches.

The sur)ey has re)eaed certain facts are accessed a""ro"riate

recommendations are made %ased on the study.

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INDUSTRY PROFILE

Time' the ,ourth -imension "oundy infuences a as"ects of ife. eo"e are

constanty aware of the "assin* of time in their daiy acti)ities. Without the a%iity to

synchroni/e comin*s and *oin*s at schoo and work' com"e societies woud

sim"y %e una%e to function. nti a few hundred years a*o there was no way to

te time more accuratey than the nearest hour. The introduction of accurate

time"ieces "ayed a ma#or"art in the de)eo"ment of modern ci)ii/ation.

Watches and cocks are the most common de)ices for measurin* time. The

,irst"orta%e timekee"er' the watch was de)eo"ed shorty after 1500. With recent

(d)ances in automation and eectronics' modern watches and cocks ha)e

ecome ess e"ensi)e and more accurate.

Watches were de)eo"ed rather than cocks. The first "orta%e timekee"er or

watch was "roduced durin* the enaissance. arier there were mechanica watches.

(thou*h mechanica watches are sti manufactured in a r * e u a n t i t i e s ' they

are increasin*y %ein* su""anted %y eectronic and eectrica time kee"er. These

newer de)ises are chea"er easier to manufacture' and considera%y more accurate.

!ntroduced in 1953' the funnin* fork watch was the first commerciay

&uccessfu eectronic watch. !nstead of a mechanica' it had a %atterydri)en funnin*

fork.

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TITAN INDUSTRIES

Titan !ndustries imited is a #oint )enture of the Tata rou" and The Tamiadu

!ndustria -e)eo"ment :or"oration ;T!-:


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OBJECTIVE OF STUDY

To study how the users rate the different features of watches.

To study whether continuous user of Titan.

To study the factors which consider %efore %uyin* wrist watch.

To study the com"etiti)e e)e of to"%rands.

To study the fastest mo)in* "rice ran*e.

To study the demo*ra"hic "rofie of the consumer who %uy wrist watches.

To study the factors this infuences the decision of consumer whie "urchasin* wrist watch.

To identify the market eader in wrist watches in that re*ion.

SCOPE OF THE STUDY

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The research study entited >Aarket &ur)ey of wrist watches? wi he" to

understand the awareness e)e of Titan watches amon* res"ondents. !t aso he"s to

understand the %uyin* infuences' rand "reference and rand &witchin*. The research

findin*s of the study wi he" the Titan Watch !ndustries td. to frame certain strate*ies

to im"ro)e their"roducts.

RESEARCH OBJECTIVE

1. To study the demo*ra"hic "rofie of the consumers who %uy wrist Watches.

2. To &tudy the factors this infuences the decision :onsumer whie "urchasin* wristWatches.

3. To identify the market eader in wrist watches in that e*ion.

RESEARCH METHODOLOGY

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esearch methodoo*y is the %ack%one of the "ro#ect work. !t means the way one

researcher seects his sam"e and sam"e si/e' methods of data coection' )arious toos used

for studyin* "ro%em with certain o%#ecti)es and o%#ecti)es in )iew. esearch methodoo*y is a

way to systematicay so)e the research "ro%em. The methodoo*y "ays a dominant roe in

any research work. The effecti)eness of any research work de"ends u"on the correctness and

effecti)eness of the research methodoo*y. :haracteristic of research methodoo*y are that

research is directed towards a soution of a "ro%em. !t may attem"t to answer uestions.

esearch in)o)es *atherin* new data from "rimary data or if some secondary data. esearch is

%ased on o%ser)a%e e"erience. esearch stri)es to %e o%#ecti)e and o*ica in a""yin* e)ery

"ossi%e test )aidates the data "rocessed.

!t consist of the foowin* ste"s

,ormuatin* the o%#ecti)es of the study

-esi*nin* the methods of the data

&eectin* sam"e the data

:oectin* the data

rocessin* and anay/in* the data

e"ortin* the findin*

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SOURCES OF DATA

!n this research' ! ha)e used %oth "rimary data as we as secondary data.

PRIMARY DATA

Buestionnaire seekin* information from %uyers and "otentia customers re*ardin* wrist

watches.

SECONDARY DATA

The secondary data was aso' coected thorou*h

a= news"a"er %= ma* a/ines

c= in te rnet

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LI M I T AT I O N

The first imitation is time.


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The story of the watch in !ndia *oes %ack a on* way to 1957. andit

Cawaharaehru' durin* his )isit to Ca"an' recei)ed a watch as a *ift ins"irin* him

to %rin* watches coser home in his country. This dream %ecame a reaity in

1961 when the first watch factory was commissioned in !ndia %y ehru in 1961.

This was the watch di)ision of @AT td.

:iti/en' the "o"uar Ca"anese manufacturer' e)inced interest to train seect

!ndian "eo"e at their watch manufacturin* "ant in Ca"an. The year 1962 saw

the manufacture of the first com"onent and then %e*an the sow %ut steady

*rowth of watch manufacture in the country. The first watch mode

manufactured %y @AT was the Canata mode' which eists e)en today' was

*ifted %y andit ehru to the senior most em"oyee of the com"any. The

net 10 years saw the !ndianmade watches car)e a niche for themse)es in the

market. 15000 to 20000 mechanica watches were made e)ery month.

&mu**in* was on a rise durin* the 1970s and the 80s "eriod. The counter

this the watch manufacturin* acti)ities were %eefed u". (n assem%y "ant

was set u" and the conce"t of a mother "ant with other units in )aious states

was"ioneered.

The eary 80s were a "eriod of technoo*ica re)oution with drastic

chan*es in tastes and "references. The inte*rated chi" was in)ented in the &

and di*itas were in demand and - watches fooded the market. Ca"anese

com"anies took o)er the manufacturin* of :- for di*ita watches. Buart/

technoo*y had "icked u" and there was a shift in focus from mechanica to

uart/ watches.1987 saw the esta%ishment of Titan watches' which was formed

%y the Tatas andT!-:< ;Tami adu !ndustria -e)eo"ment :or"oration=.

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The Tatas took two decisions that they wi manufacture ony uart/ ;anao* and

di*ita= and not mechanicas' and the woud set u" a state of the art "ant to

manufacture watches in a wide )ariety of desi*ns and"rices.

Today the !ndian market reuirement for watches is we o)er 20 miion watches

"er year. Aa#ority of the demand is *enerated %y the su%s.1000 se*ment.

i%erai/ation has %rou*ht with it a host of %rands for the !ndian market' )i/. i*uet'

:artier' :hristian -ior'


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ELEMENTS OF INDUSTRYSTRUCTURE

et us anay/e the industry structure in the 1980s when Tata$s decided to make a

foray in the watch market. We use Aichae orters 5 forces mode to carry out the

industry anaysis.

!ndu s try & tructu r eE The industry consisted of the or*ani/ed se*ment which

was dominated %y @AT' and the unor*ani/ed se*ment consistin* of sma time oca

"ayers and the *ray market. @AT' the timekee"ers to the nation' manufactured ony

mechanica watches. The @AT watches fufied ony the functiona needs of a

watch. &ma time"ayers acked the nationwide reach that @AT had. They aso did not

ha)e reia%e su""ort network. The *ray market was fooded with uart/ and di*ita

watches from Ca"an. Thou*h the *ray market did not ha)e the su""ort network their

sturdy "erformance and their ooks made the Ca"anese watches )ery attracti)e

"urchases.

u yersE The "enetration of watches within !ndia was ow' therefore there was a

hu*e unta""ed market. The %uyers wanted watches that offered more than #ust the

functiona %enefit. There was aso a atent demand for uart/ anao* and di*itas

watches that @AT was una%e to fufi as it manufactured ony mechanica watches.

The %risk saes of wiin* to "ay a "remium for watches with *ood desi*n and

"erformance.

& u ""iersE @AT had fuy inte*rated o"eration for mechanica watches. There

was no conce"t of ha)in* )endors in the watch industry. &ince the su""ier$s roe in

this industry was )ery imited they did not ha)e stron* %ar*ainin* "ower.

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&u%st itutesE The uart/ technoo*y had %ecome "o"uar a o)er the word.

Buart/ watches from Ca"an had aready %eaten the &wiss in their own *ame in the sities

and the se)enties. The &wiss had refused to em%races the new uart/

Technoo*y and they had suffered %ecause of their adherence to mechanica watches.

@AT was makin* the same mistake in !ndia. &ince the im"orts were not freey

"ermitted' there was no immediate"ossi%iity of some com"any enterin* into the watch

market %y assem%in* im"orted"arts ;assem%y of com"etey knocked down kits=.

ew entrantsE The demand for watches in the *ray market indicated that there was

s"ace in the market for a new entrant who woud "ro)ide watches with *ood desi*n and

reia%e "erformance. The new entrant coud score o)er @AT with *ood desi*n'

o)er the *ray market %y "ro)idin* de"enda%e after saes ser)ice' and o)er the

oca "ayers %y esta%ishin* nationwide distri%ution network.

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PRODUCT PROFILE

1. Titan Fat!a"#$

,astrack is a su% %rand of titan commenced in 1998.,astrack "ro)ides )ariety of new "roducts to

satisfy the needs of youth due to chan*in* fashion ike %a*s' %ets' waets and wrist %ands.

,astrack watches are )ery "o"uar %ecause of their strikin* desi*n and stye. The "rice of

watches starts from s. 595 onwards.

%. Titan O"tan&$

The


15/22

+. Titan Ra*a$

uisite' ee*ant and re*a the Titan a*a is a cassy feminine %rand of watch from Titan. This

is the ony %rand in !ndia which is desi*ned ecusi)ey for ,o-&n. Gatrina kaif' the actress of

%oywood has %een a""ointed as the %rand am%assador of Titan a*a.

. Ra*a Di/a

(n euisite ran*e of watches for women in the Geraa market. !ns"ired %y traditiona Gundan

work' this coection has %een rendered in a dei*htfuy contem"orary form. !t is "riced %etween

s 4'000 and s 10'000.

0. Titan N&23a 4 D2&t Co33&"tion

Titan e%ua' the "remium 18G *od watch %rand from Titan' today aunched the

-uet coection H three "airs of s"eciay crafted *od watches for the weddin* season. The most

"remium coection for this weddin* season was un)eied %y "o"uar actor u ana*. ()aia%e

in mother of "ear dias in %oth cham"a*ne and white o"tions it is "riced %etween s.30' 500I

and s. 1'35'000.

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ANALYSIS OF DATA

The es"ondents and the :hoice of -istricts

-ata were coected from the Gottayam district of Geraa &tate. The researcher

inter)iewed 250 res"ondents in the district.

(*e of the 4es"ondents

The ma#ority of the res"ondents fa in the a*e *rou" of 1522' 45D of the

res"ondents %eon* to this cate*ory. 39D of the res"ondents come under the a*e *rou"

of

2330. 6D each %eon* to the a*e *rou"s 3135 and a%o)e 45. 4D of the res"ondentsare in the a*e *rou" 3645. Ta%e 1 *i)es a cear "icture of the a*e *rou" distri%ution

of the tota res"ondents.

(*e of the 4es"ondents

(*e rou" um%er .ercenta*e

1522 113 45

2330 97 393135 15 6

3645 10 4

(%o)e 45 15 6

Tota 250 100

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18/22

Fa-i3ia! B!an) o5 Wat"6&

(s mentioned a%o)e the desi*n and other features of the watches infuence the

customers in their seection. (nyhow "eo"e ha)e certain famiiar %rands of watches

and whene)er they hear a%out the watches such %rand names come to their mind.

Ta%e indicates the more famiiar %rands of watches of the res"ondents.

,amiiar 2rands of Watches

2rands 9um%er of 4es"ondents .ercenta*e

Titan 142 57

@AT 38 15

:iti/en 15 6

Time 12 5

:assy 0 0

ado 8 3

:asio 5 2

&onata 30 12


19/22

FINDINGS

1= Titan is the num%er one %rand.

2= Aost of the customers wear Titan watches.

3= Titan &onata is the most fa)oura%e %rand.

4= Aaimum customers consider rice as the most im"ortant factor whie %uyin* wrist

Watches.

5= Aost of the customers are infuenced %y their friends in

urchasin* wrist watches.

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RECOMMENDATION AND SUGGESTIONS

1. Titan &onata is used %y maimum customers so the com"any

&houd "osition its other %rands aso.

2. Aost of the "ersons are "rice conscious whie "urchasin* their watches so the com"any

&houd maintain its cost eadershi".

3. Aost of the customers fee Titan as a &tatus sym%o so the com"any shoud maintain its

e)e and aunch the new "roducts in accordance with this statement.

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CONCLUSION

enty of different %rands of watches are a)aia%e in the market. :onsiderin*

the market share of those %rands Titan watches stand first' it is the ma#or sharehoder in

the market. !ts main features are )ariety in desi*n' different "rice cate*ory' etc.

To increase its )isi%iity' Titan :om"any can s"onsor e)ents simiar to fashion shows in

which a atest desi*ns aunched are dis"ayed. This woud ha)e muti"ier effect as the

atest desi*ns aunched %y the com"any *et noticed %y different se*ments of the customers

in )aried ways. Tie Hu" with ,A radio channes for reminder ad)ertisements and informin*

customers a%out )arious saes "romotion offers from timetotime.

The customers in the different a*e *rou"s and in the different income

*rou"s consider the )arious features ike "rice' desi*n' and the %rands. Their criteria

of seectiondiffer as their incomeIa*eI and education )aries.

Aost of the res"ondents ;33D= use Titan watches. The second %rand that has

si*nificant num%er of customers is @AT watches. !t co)ers the 19D of the tota

customers. The other im"ortant %rands of watches that the res"ondents use are :iti/en'

Time' :assic' &onata etc.

To im"ro)e the market share of the Titan watches they ha)e to em"hasise on

the"roduction of *od ty"e and "astic ty"e watches.

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BIBLIOGRAPHY

,or com"etin* this "ro#ect ! ha)e taken he" from )arious sources and one of them is

internet. The name of )arious sites from where we ha)e coected information and data are

as foows.

www.titanindustries.in

www.wordtitan.com

usiness standard and The conomic Times

esearch methodoo*y y :. kothari.

esearch methodoo*y in commerce %y Aanan "rakashan

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http://www.titanindustries.in/http://www.worldtitan.com/http://www.worldtitan.com/http://www.titanindustries.in/

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research project on titan watch