Submitted By

Amit Nayak (119278131) Archish Gupta (119278133) Dharmesh Yadav (119278100) Shailly Sharma (119278135)

Marketing Survey Report

Watch brands

1. Purpose
The purpose of this report is to present analysis of the market survey project. The report gives analysis about the various brands of wrist watches sold in India in three categories: preferred, aspirational and hated. It also highlights the various reasons for this categorisation.

2. Survey Methodology
The survey is done via on the spot filling of questionnaire by people. The population of the sample is a varied mix of people in terms of age (between 18 to 40 years), sex (Male / Female), and qualifications (student/Work). The main questions in the questionnaire were, the most preferred watch brand and why, the most aspirational watch brand and why and the most hated watch brand and why. People selected were a mix of students (25) and working (25) both inside and outside IITB campus.

3. Analysis
3.1 Distribution of brands in various categories Distribution on basis of Most Favoured/Current Brand From above distribution we interpret the following: The brands like Titan and Fastrack came out to be most favoured/current brand among the people surveyed. People preferred Titan because of its reliability, trust that people have, quality and also the good collection. For Fastrack, reasons were attributed to its style, sporty looks and the affordability. Brands like Casio, Tag Heuer, Espirit, Fossil, Rado, Rolex, Police were preferred by less people but they own it because of their brand name and value. Timex was preferred by very less people but they own it because they find it more affordable than other brands. Girls mostly preferred Titan Raga because of its sleek designs.

Distribution on basis of Most Aspired Brand: From above distribution we interpret the following:

Around 42% of the total people surveyed aspire to buy Rolex followed by Tag Heuer 15%, Rado 14% and Swatch 9%. The chart can very well be used by these brands to understand their markets of the future since the people who aspire to own these brands will most probably be their customers in the future.( Since the survey population is a educated class of IIT or working professionals) The main reasons cited for these brands were their brand value. Also some preferred because of their brand ambassadors. Other brands like Titan, Armani, Police, Omega, Sonata came out to be less aspired ones. Brand like Titan were mostly owned by them and other brands were not popular among the students. Distribution on basis of Most Hated Brand:

Some observations that churn out from above chart are as follows: Around 60% of the total people surveyed said they dont hate any brand. Out of rest 40%, Titan , Timex, sonata shares 8% each and Maxima 5%. The main reasons for hating Titan and Sonata were that they were obsessed with the same old models and found them as very common brand. Timex doesnt look attractive to people especially Service class. Also HMT has lost its brand value and is considered as outdated now.

Also local made brands and Chinese ones are hated because of bad quality, no brand value and cheap looks. 3.2 Distribution depending on working and Students Distribution on basis of Most Preferred Brand between Working and Students

Titan emerged as the most preferred brand amongst the working population of the sample taken while Fastrack is the favourite of students. The important point to be noted here is that both Titan and Fastrack have the maximum share in this category for both (60%) working and (64%) student. Other brands, which form only a small proportion, are choices of people who like particular models of those brands. Reasons for Titan as preferred brand by working group student group Reasons for Fastrack as preferred brand by

On analysis of the reason of preference, brand name and quality are the top two reasons followed by style for working people. Affordability was not a major factor as its not a major issue for those who earn to buy a watch of their choice. Whereas in case of students, affordability is the second most important parameter and style being the first.

Distribution on basis of Most Aspirational Brand between Working and Students

In aspirational brand category, Rolex and Rado came out as favourites for working and students with Rolex being the first choice of both.But there is a variation in percentage of people. In students difference between people aspiring for Rolex(44%) and those aspiring for Rado(10%) is 34% which is a significant figure. If data of working people is analysed, the difference is more balanced (14%) Rolex being the choice of 30% of people and Rado with 16%.

Reasons for Rolex as aspirational brand by working group by student group

Reasons for Titan as aspirational brand

Students aspire for Rolex mainly because of the the brand image it carries. This is evident from the figures as 56% of the student group stated that as their reason. Working people give almost equal preference to brand value and status symbol. Design and price do not carry much weightage as it is a very high end product, much out of the reach of huge percentage of population which justifies its presence in the aspirational brand category.

Distribution on basis of Most Hated Brand between Working and Students

Most people do not have any particular brand in the most hated category. The figures are very close for both students (62%) and working people (58%) in the group. The reason given by most people is that watches do not majorly affect their lifes. Local brands are hated more amongst students as they might have used it more recently and faced problems the unanimous reason given its being cheap and of low quality. For working group, Titan is second in the hated category as it does not offer very stylish designs as other brands do. Timex and Fastrack were written in this category by a few because they are very common brands. 3.3 A View based on Age Group Popularity across age groups in current watches being used: AGE <18 18-22 FASTRACK 2 6 TITAN 2 4 TIMEX 1 2 ROLEX 1 TAG HEUER TOMMY HILFIGER CASIO OTHER S 2

22-30 30-40

17 2

33

9 2

1 TO 3 3 TO 5 5TO 10 ABOVE1 0

LOW PRESENCE FAIR PRESENCE GOOD PRESENCE DOMINATING PRESENCE

The dominant age group of the sample is 22-30 .One very interesting trend that came out was the dominance of Fastrack and TITAN along with its different brands across any age group. Official figures states that titan watches holds 60% of the Indian wrist watch market which is what our survey also came up with. Titan has managed to cater to the more traditionalists with their titan brand and if someone wishes for a sporty watch then there is always Fastrack to bank on. They have a very unique positioning as a trusted brand for quality and style amply exemplified by their brand ambassador Amir Khan. No other brand comes even close to titan, the rest of the market presence in our survey is very fragmented and there are high end players like TAG HEUER , TOMMY HILFIGER as well as affordable ones like Timex. Possibly the positioning of Titan as aspirational as well as affordable is what makes Titan a dominating Brand in Indian wrist watch market. 3.4 Rating of Brands based on Customer Perception

Chart indicating the preferences as per key features for various Brands The respondents were asked to select the reason from the options given for their preferences for the watches. The main factors influencing the aspired and preferred brands were looks, quality, brand value and price factor. The findings of the customer survey are listed below: 18% of the consumers prefer titan watched for their quality and brand value. However there is a misconception about looks of Titan products among the consumers as compared to other brands in higher range. Price and quality are the two main factors driving the market currently. Though the samples surveyed were not familiar with all the brands, but the basic assumptions that existed among was that watches of high value were considered to have high quality and a good brand value. Rolex emerged as the top in the looks and quality, while Titan and Timex seemed to be the most affordable ones. All the brands surveyed are rated as good for some of the unique selling point as seen from the above chart. Most companies that produce watches specialize in one or some of the above mentioned factor. 1. Recommendations