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History of wristwatch

Today, a wristwatch is considered as much of a status symbol as a device


to tell time. In an age when cell phones and digital pagers display tiny
quartz clocks, the mechanical wristwatch has slowly become less of an
object of function and more a piece of modern culture.
Walk into the boardroom of any Fortune 500 company and you’re likely
to see dozens of prestigious wristwatches, including such names as
Rolex, Vacheron Constantine, Frank Muller, Jaeger-LeCoultre and even
Patek Philippe. However, this was not always the case. Less than 100
years ago, no self-respecting gentleman would be caught dead wearing a
wristwatch. In those days of yore, real men carried pocket watches, with
a gold half-hunter being the preferred status symbol of the time—no pun
intended.
Wristlets, as they were called, were reserved for women, and considered
more of a passing fad than a serious timepiece. In fact, they were held in
such disdain that many a gentlemen were actually quoted to say they
“would sooner wear a skirt as wear a wristwatch”.
The established watch making community looked down on them as well.
Because of their size, few believed wristlets could not be made to
achieve any level of accuracy, nor could they withstand the basic rigors
of human activity. Therefore, very few companies produced them in
quantity, with the vast majority of those being small ladies’ models, with
delicate fixed wire or chain-link bracelets.
This all started to change in the nineteenth century, when soldiers
discovered their usefulness during wartime situations. Pocket watches
were clumsy to carry and thus difficult to operate while in combat.
Therefore, soldiers fitted them into primitive “cupped” leather straps so
they could be worn on the wrist, thereby freeing up their hands during
battle. It is believed that Girard-Perregaux equipped the German
Imperial Naval with similar pieces as early as the 1880s,which they ore
on their wrists while synchronizing naval attacks, and firing artillery.
In 1906, the evolution of wristlets took an even bigger step with the
invention of the expandable flexible bracelet, as well as the introduction
of wire loops (or lugs) soldered onto small, open-faced pocket watch
cases, allowing leather straps to be more easily attached. This aided their
adaptation for military use and thus marked a turning point in the
development of wristwatches for men.
Another timely issue was the vulnerability of the glass crystal when
worn during combat. This was addressed by utilizing “pierced metal
covers”, frequently called shrapnel guards. These were basically metal
grills (often made of silver), placed over the dial of the watch—thereby
protecting the glass from damage while still allowing the time to be
easily read.
A less common solution was the use of leather covers, snapped into
place over the watch. While they did offer protection from damage, they
were cumbersome to use, and thus were primarily seen in the extreme
climates of Australia and Africa
Over the next decade, watch companies slowly added additional models
to their catalogs, and finally, by the mid-1930s, they accounted for 65
percent of all watches exported by Switzerland. It was an uphill battle,
but the wristwatch had finally arrived. They were now accurate,
waterproof and, by 1931, perpetually self-winding, when Rolex
introduced the Auto Rotor, a revolutionary design, which is used to this
day by watch companies around the world.
The success of the wristwatch was born out of necessity, and Rolex
continued this tradition by introducing a series of Professional, or “tool
watches” in the early 1950s. These models, including the Submariner,
Explorer, GMT-Master, Turn-O-Graph, and Milgauss were also designed
out of necessity, as they included features and attributes that were
essential for a specific task or profession.
Because of its rugged design, variations of the Submariner have
subsequently been issued to numerous militaries, including the British
Royal Navy, Royal Canadian Navy and British Royal Marines, as well
as the U.S. Navy Seals. Over the years, dozens of companies like
Omega, Benrus and Panerai have also supplied specialty watch models
for military duty.
.With the general public now leaning toward high-tech, digital gadgets,
the classic mechanical wristwatch was came to the market.
Profile of the company
TATA started in 1868 by Jamshetji Musser Wangi in textile industry. Due
to the industrial revolution TATA diversified its field one of the fields is
to the watch sector, named as TITAN.
TITAN entered into the watch sector in 1986-87.They concentrated only
on Quartz watches. Titan penetrated the market from mechanical type to
quartz, Imported to indian,TITAN is banded by common culture and
vision is TATAsTrust,reliability,value of money, highly quality,fair
dealings, highly ethical, professional management.
Kinds of watches available in Titan
Analog
Digital

Distribution channels:
1993-94 New retailing network initiated by TITAN using exclusive
show room to see in products.
Service network:
31 Service stations run by the company, 268 services authorized
stations, spare parts
Setup in Bangalore .Decentralized of repair activities through training of
dealers and appointment of authorized parts distributors. It operates in
Bombay, Chennai, Calcutta and Delhi.
Achievements in customer service network:
94% of watches return in 7 days, spares are processed with in 48 hours,

Introduction to the study

Marketing has assumed much in present day business world. The


success of failure
Of any organization profit making or non-profit making depends on the
Marketing. Marketing has special significance in the modem
management of
Business concept. In the words of peter F Drucker,"Marketing is the
Distinguishing and unique function of the business”

Business decisions should be “Marketing or customer oriented rather


than
Product oriented gearing operations primarily to the office satisfaction of
Customer wants and needs. What marketing creates is a permanent
existence of
The entity of customers”, the substance of particular group of customer
or the
Different group of customers for a company products reduces its
business risk and
Expands its planning horizon. It serves the business and the business
turn serves
The market, through planning research and developing. An activity of
any type of Business undertaking makes use collection of data.

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE
1) To study the attitude and satisfaction among the consumers for
Titan fastback watches, at SRM University (Kattankulathur
campus).

SECONDARY OBJECTIVE
1) To study and analyze various factors influence the consumers to
purchase the fastrack watches.
2) To analyze the factors influencing perception and buying decision
of consumers.
3) To find out the effectiveness of advertisements for fastrack
watches.
SCOPE OF THE STUDY

The study attempts to identify the reach of Titan fastrack watches

which would help the company in formulating suitable strategies. The

study also identifies the attitudes and preference of the consumers. The

study also focused on Media through which the product reaches the

consumers.
LIMITATIONS OF THE STUDY

1. The geographical scope of the study is limited to SRM University


kattankulathur campus alone.

2. The sample size is confined to 50.

3. The consumer’s attitude may change in future due to change in their


standard of living.

4. The Respondents were sometimes unable to spend much time for


filling up the, questionnaire. So, the chances for bias in the respondents
answer were on the higher side.

RESEARCH METHODOLOGY

RESEARCH DESIGN
The Research Design adopted in the study was
descriptive in nature because the study aims at
describing the situation as it exists at present. It shows
the consumers satisfaction for fastrack watches.

SAMPLE SIZE
The Sample Size of this study is 50.

POPULATION
The Population of this study is indefinite

SAMPLING METHOD
The study involves area sampling method. Area sampling method
involves selecting a probability sample of geographic areas and selecting
units or individuals within the selected areas for the sample
SOURCES OF DATA
The Study used both Primary and Secondary data.
PRIMARY DATA:
The primary data was collected from the respondents
using questionnaire.
SECONDARY DATA:
The Secondary data was collected from the company’s
official website.
METHODS OF DATA COLLECTION
Data was collected from the customers with the help of a
questionnaire.
DATA ANALYSIS METHOD
The Data was collected from the main study and was
analyzed using
Based on the results conclusion were drawn and
suggestions were made.

No of users of Fastrack watches (Sample Size-50)

TABLE – 1

TABLE SHOWING THE USERS OF FASTRACK

S
PARTICULARS NO. OF RESPONDENTS PERCENTAGE
.NO
1. YES 17 34%
2. NO 33 66%
TOTAL 50 100%
INTERPRETATION :

It is inferred that from the sample of 50, at SRM University, 34% are the users
of fastrack and 66% are not using fastrack watches.

Influencer for purchase


TABLE – 3

TABLE SHOWING THE INFLUENCER FOR THE PURCHASE OF FASTRACK

S
PARTICULARS NO. OF RESPONDENTS PERCENTAGE
.NO
1. Friends 2 12%
2. Advertisement 15 88%
3. Family 0 0

TOTAL 100%

INTERPRETATION: It is understood that, majority of the respondents i.e., 88% of


them were influenced by the advertisements appearing in media and 12% of the
respondents purchased fastrack watches when refereed by their friends.

TABLE – 4

TABLE SHOWING THE PREFERRED ATTRIBUTE OF FASTRACK

S
PARTICULARS NO. OF RESPONDENTS PERCENTAGE
.NO
1. Design 4 23%
2. Use friendly 2 12%
3. Brand 11 65%

TOTAL 100%

INTERPRETATION:

It is understood that, majority of the respondents i.e., 65% of the respondents


preferred fastrack watches due to its brand image and next majority, i.e. 23% of the
respondents preferred it due to its design.

Gender of the users:


TABLE – 2

TABLE SHOWING THE USERS ON THE BASIS OF GENDER

S
PARTICULARS NO. OF USERS PERCENTAGE
.NO
1. Male 9 53%
2. Female 8 47%
TOTAL 17 100%

INTERPRETATION : It is inferred that 53% of the users are male and 47% of the
users are female. Hence the male users are more than female users.

TABLE – 6

TABLE SHOWING THE SATISFACATION LEVEL OF FASTRACK


S Brand
ATTRIBUTES PERCENTAGE
.NO
1. Highly satisfied 7 41%
2. Satisfied 8 47%
3. 2
Dissatisfied 12%

TOTAL 17 100%

S Price
ATTRIBUTES PERCENTAGE
.NO
1. Highly satisfied 3 18%
2. Satisfied 11 65 %
3. 3
Dissatisfied 17%

TOTAL 17 100%

S Variety
ATTRIBUTES PERCENTAGE
.NO
1. Highly satisfied 5 29%
2. Satisfied 6 35 %
3. 6
Dissatisfied 36%

TOTAL 17 100%

Interpretation:

It is understood that the users of fastrack watches are quite satisfied with the brand
image of fastrack and with its pricing strategies, but dissatisfied with the varieties.
RANK DESIGN USER FRIENDLY BRAND

3 9 8 11
2 4 7 2
1 4 2 4
TOOL OF ANALYSIS: Weighted Average

X=€wx/€w

REASON WEIGHTED AVERAGE RANK

DESIGN 39/6=6.5 3

USER 40/6=6.6 2

BRAND 41/6=6.8 1
SUGGESTIONS

• TV advertisements can be renewed explaining the product feature and

aggressive marketing will help the company.

• Awareness of the product is less among the people. So, the company may

take several steps to create such awareness regarding its values to the

customers.

• The company can adopt new strategies and policies to overcome the

competition.

CONCLUSION

Gaining and maintaining consumer preference is a battle that is never really

won. Continued and consistent branding initiatives that reinforce the consumer’s
purchase decision will, over time, land the product in consumer preference sets.

Attaining and sustaining preference is an important step on the road to gaining

brand loyalty

Most of the consumers prefer Fastrack watches in SRM University campus, due to

its strong brand image, and the main factor forcing the customers to buy fastrack

watch is advertisements through the print and electronic media.