WINTER TRAINING PROJECT Project Report On Study of the Consumer of Titan Wrist Watches in Ranchi Region UNDER THE

GUIDANCE OF RESP. Mr. S.MITTAL SIR FACULTY, IPM MEERUT.

INSTITUTE OF PRODUCTIVITY AND MANAGEMENT Acknowledgement Every work accomplished is a pleasure a sense of satisfaction. However a number of people always stimulate, criticize and appreciate a work with there objective ideas and opinions, hence I would like to use this opportunity to thank all, wh o have directly or indirectly helped me to accomplish this project. Firstly I wo uld like to thank Mr. Sushant Mittal Sir and Mr.Vee.S.Solanki Sir without whose support this project could not be completed. Next I would like to thank all the people who gave their valuable time and feedback to this project. I would also l ike to thank my college for supporting us with possessions, which beyond any dou bt have helped me. Let us also use this opportunity to thank our team members wh o have contributed to this project with their invaluable opinions and suggestion s, which have gone a long way in soothing our rough edges as a teammate. Also th anks to all our fellow friends and seniors who have always been there to help an d support me. 2

PREFACE For the fulfillment of the PGDM program, winter training has been incorporated i n the curriculum. Whatever management student learns in the first semester theor etically is applied by him in this project. Which results in the inculcation of thus gained knowledge through practical application? In brief we can say that th is project gives a chance to apply what we have learnt till now and to apply thi s knowledge in real life situation. Our classroom teaching and text books give u s through theoretical background of the different functional areas devoid of pra ctical experience on how these areas administrated and managed respectively. Thi s project assignment gives an opportunity to understand the applications of clas sroom learning. This training helps me to develop various skills for problem ana lysis and the decision making ability. Place: Meerut Pratik Kr.Jain 3

CONTENTS Page No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Company Profile Product Profile Title and Objective Research methodology Sources of data Sample Unit of analysis Demo graphic profile of respondent Data analysis Findings Limitations Recommendation and suggestions Bibliography Questionnaire 5 6 14 15 16 17 18 22 32 33 34 35 36 4

Company Profile Titan Industries is the world's sixth largest wrist watch manufacturer and India 's leading producer of watches under the Titan, Fastrack, Sonata, Nebula, Octane & Xylys brand names. It is a joint venture between one of India's most respecte d business organizations, the Tata Group, and the Tamil Nadu Industrial Developm ent Corporation (TIDCO). It exports watches to about 32 countries around the wor ld with manufacturing facilities in Hosur,Dehradun, Goa. Titan watch division wa s started in 1987. At launch it was the third watch company in India after HMT a nd Allwyn. Titan formed a venture with Timex, which lasted until 1998, and setup a strong distribution network across India. The headquator of titan watches is in Hosur(India).Besides India Titan also serves in 4continents and 32 other coun tries specially Middle East, Asia Pacific and Africa. It gives employement to ab out 3500 people and the parent company of Titan is TATA. In India, Titan markets its products through its 222 exclusive showrooms named "The World of Titan", an d over 12,000 outlets in over 2,500 cities in the country. The company manufactu res over 8 million watches per annum and has a customer base of over 80 million. Indian Watch industry is estimated to be around 1600 crores and Titan is riding on top of it with a market share of over 50%. Titan has carefully created a mar ket for itself through careful segmentation and branding strategies.It is a bran d that showed the world that Indians are good in Branding. 5

Titan offers watches for every occasion. The main collections under it include:

Formal - a perfect fusion between sophistication and function, the watches are a vailable in haute fashion of leather and metal combinations. Dresswear - another fusion, this time between ethnic and contemporary. These designer watches come in allgold and bicolor look with intricately designed bracelets and patterned di als. Fashion - the steel-gold, steel-leather and all-steel perfectly suit the ha nds of young professionals and range from highly fashionable to simple looks. Sp orty/Casual - the collection features wrist-gears with groovy colors and funky s tyles; bold, broad straps and trendy metal bracelets for girls and sports watche s in leather and metal straps for the boys. Luxury - these are crafted from 18 k arat solid gold and inlaid with precious stones, pure leather straps, sapphire c rystal for resistance against scratch, customized message engraving and a lifeti me guarantee. Economy - designed for the largest set of customers, the watches i n this category are stylish yet affordable. Technology - in keeping with the dem ands of changing times, the watches have features like stopwatch, timer, and mag netic compass, to name a few. 6

PRODUCT PROFILE 1.Titan Fastrack:Fasactrack is a sub brand of titan commenced in 1998.Fastrack provides variety of new products to satisfy the needs of youth due to changing fashion like bags, belts, wallets and wrist bands. Fas track watches are very popular because of their striking design and style. The p rice of watches starts from Rs. 595 onwards. 7

2.Titan Octane: The Octane collection is present in over 35 different styles and is priced between Rs 5,000 and Rs 7,500. These watches are available at all Wor ld of Titan showrooms, leading multi-brand outlets and departmental stores acros s the country . 8

3.Titan Sonata: Associated with the Indian working class, the Sonata range comprises of both analog and digital watches. The metal strap w atches by Sonata was a big hit with the Indian working class men. Sonata has for ayed into the plastic watch arena as well. Though the watches are of good qualit y they are reasonably priced. Today, Sonata is Titan's brand for the economy mar ket and is the largest watch brand in India in terms of volume sales. 9

. 4.Titan Edge: Manufactured using a unique combination of style and technology Titan Edge watches are ultra slim and exceptionally elegant . They have the slimmest quartz movement measuring 1.15mm and is the only one of its kind in the world. Currently Titan Edge has 13 variants, 8 in stainless ste el and 5 in the plated version. 10

5.Titan Raga: Exquisite, elegant and regal the Titan Raga is a classy feminine brand of watch from Titan. This is the only brand in India which is designed exclusively for wo men. Amrita Rao, the actress of bollywood has been appointed as the brand ambass ador of Titan Raga. 11

Corporate Social Responsibility Titan has holistically integrated the CSR process and has programs covering the following: Employing the physically challenged. Women's empowerment. Partnering wi th self help groups amongst rural women for outsourcing components, bracelets th e Meadow Project with Myrada. The Titan school and the Titan Foundation for Educa tion - a primary school currently enrolling 300 students. The Titan Scholarship meant for students in Dharmapuri and Krishnagiri based on the criteria of acade mic performance and socio-economic background. The Titan Township -building a sus tainable community in Hosur providing a home to 1300 residents. Community Develop ment Forums - Eye care camps, Eye donation initiatives - Aids Awareness- Program s for the differently abled - No tobacco drive, Children's programs. Volunteering in Hosur, Corporate Office as wells as Regions. Partnering with NGOs like CRY, C oncern India and Ashraya. Improving the quality of life for children - the TATA TCCI TITAN Bal Bhavan Children's park project at Cubbon Park ,Bangalore . 12

Recognition The company has been awarded the following distinctions: The Government of Tamil Nadu's award for being the "Largest Employer of the handicapped". This award was conferred on us in the years 1993 and 1996. The Mother Teresa award for the best Corporate Citizen in 1998. The Helen Keller Award in 1999. FICCI-SEDF award in 20 01-02 for Social Responsibility. The Rotary Club of Bangalore Award for the Corpo rate Citizenship. The Mother Teresa, Helen Keller and the Rotary Awards for Corpo rate Citizenship. The PHDCII Award for Good Corporate Citizenship. 13

Title of the Project: To study the consumer perception and the segmentation of T itan Wrist Watches. RESEARCH OBJECTIVE 1. To study the demographic profile of the consumers who buy wrist Watches. 2. T o Study the factors which influences the decision of consumer while Purchasing w rist watches. 3. To identify the market leader in wrist watches in that Region. 14

RESEARCH METHODOLOGY Research methodology is a way to systematically solve the research problem. The methodology plays a dominant role in any research work. The effectiveness of any research work depends upon the correctness and effectiveness of the research me thodology. Characteristic of Research Methodology are that research is directed towards a solution of a problem. It may attempt to answer questions. Research in volves gathering new data from primary data or if some secondary data is availab le there then analyzing can be done on the basis of secondary data. Research is based on observable experience. Research strives to be objective and logical in applying every possible test validates the data processed. It consists of the following steps. Formulating the objectives of the study Desi gning the methods of data collection Selecting sample plan Collecting the data P rocessing and analyzing the data Reporting the findings 15

SOURCES OF DATA In this research I have used both primary data as well as secondary data, PRIMARY DATA Questionnaire seeking information from buyers and potential customers regarding wrist watches. SECONDERY DATA The SECONDARY DATA was also, collected through (a) Newspaper (b) Magazines (c) I nternet DATA COLLECTION METHOD: Survey Method 16

Sample Unit of analysis SAMPLE STUDY As population of Ranchi is very large and to cover each and every o ne in this study and within a limited time is very difficult, so I decided to go for sample study. People of different zones taken in account ** ** ** Ashok Nag ar Lalpur Hinoo TIME AND SPACE BOUNDARIES ** November 2009 SAMPLING POPULATION My sampling population comprises of the individuals using th e wrist watches. SAMPLE SIZE My sample size is 60, which comprises of respondent s from different fields. RESEARCH TYPE :- I have followed a descriptive research methodology. 17

DEMOGRAPHIC PROFILE OF RESPONDENT AGE GROUP 40 35 30 25 20 15 10 5 0 21-30 31-40 41-50 more than 50 percent age group Interpretation: - After analyzing the data, it has been found that 40% of respon dent are of age between 31-40 years. 18

OCCUPATION 35 30 25 20 15 10 5 0 Business Service Housewife Student occupation Percent Interpretation: - After analyzing the data, it has been found that 35 % of respo ndents are Businessman. 19

Gender 80 70 60 50 40 30 20 10 0 Male Female Gender Percent Interpretation: - After analyzing the data, it has been found that 80 % of respo ndents are male and rest 20% are female. 20

Annual Income 45 40 35 30 25 20 15 10 5 0 0-20000 200003000 3000040000 More than 40000 Percent Income Interpretation: - After analyzing the data, its been found that 41% of responden ts are of Income group 0-1,00,00 and 27% of respondents are of income group 1,00 ,00 2,00,00. 21

DATA ANALYSIS 1. Which type of watch do you to like to wear? 40 35 30 25 20 15 10 5 0 Sports Formal Fashion Type Economy Percent Interpretation: - After analyzing the data it was found that 36% respondents lik ed to wear Formal Watches while 32%of the people like to wear Economy watches. 22

2. Which brand you consider number 1 in wrist watches? 45 40 35 30 25 20 15 10 5 0 Titan Hmt Brand Timex Other Percent Interpretation After analyzing the data it has been found that 42%of the respond ents use Titan watches while 28%of them use HMT watch. 23

3.Which brand do you wear? 60 50 40 30 Percent 20 10 0 Titan Hmt Brand Timex Other Interpretation: As per the above graph majority of the people wear Titan watch w hich supports the interpretation that Titan is No1. Brand. 24

4.If you wear Titan then which brand do you prefer? 60 50 40 30 Percent 20 10 0 Sonata Fastrack Brand Edge Octane Interpretation: As per the above graph Sonata is the leader with respect to Othe r Brands of Titan with 58% of respondents using it. 25

5.Who influence you or suggests to buy your wrist watch? Percent 40 35 30 25 20 15 10 5 0 Family Members Advertisement Inlflunce Percent Interpretation: As per the above graph Most of the people Influenced by friends and Family members.. 26

6.Which Factor you consider while purchasing a wrist watch? Percent 50 45 40 35 30 25 20 15 10 5 0 Price Quality Factor Brand Style Percent Interpretation: As per the above graph Price is the biggest factor which influen ce a customer in buying a wrist watch. 27

7.What is the range in which you buy wrist watch? Percent 60 50 40 30 20 10 0 0-1000 1000-2000 2000-3000 More than 3000 Range Percent Interpretation: As per the above graph most of the customers buy watches in the range of Rs.0-1000. 28

8.Are you satisfied with your brand? Percent 50 45 40 35 30 25 20 15 10 5 0 Partly Moderately Satisfaction Not satiafied Percent Interpretation : As per the above graph 48% of the customers are partly satisfie d with the brand they have and 27%of them are highly satisfied with their brand. 29

9.What you perceive about Titan after purchase? Percent 60 50 40 30 20 10 0 Status symbol Commonly used Feeling Other Percent Interpretation: As per the above graph 57% of the customers consider Titan watch es as a Status Symbol. 30

10.Do you think that Titan is an expensive brand? Percent 50 45 40 35 30 25 20 15 10 5 0 Highly Slightly Feeling Normal Percent Interpretation :Most of the customers think that Titan is a slightly expensive b rand and 46%of the customers are in favour of this. 31

FINDINGS 1) Titan is the number one brand in Ranchi. 2) Most of the customers wear Titan watches. 3) Titan Sonata is the most fovourable brand. 4) Maximum customers cons ider Price as the most important factor while buying wrist watches. 5) Most of t he customers are influenced by their friends in purchasing wrist watches. 32

LIMITATIONS 1. The first limitation is time. Only few weeks of time was allocated for resear ch work which is quiet inadequate. 2. My sample size is very small. 3. Some respondents were not ready to share their views. 4. Some respondents wer e not educated thus getting the data from them was a very tough job. 33

RECOMMENDATION AND SUGGESTIONS 1.Titan Sonata is used by maximum customers so the company should position its o ther brands also. 2.Most of the persons are price conscious while purchasing the ir watches so the company should maintain its cost leadership. 3.Most of the cus tomers feel Titan as a Status symbol so the company should maintain its level an d launch the new products in accordance with this statement. 34

BIBLIOGRAPHY For completing this project I have taken help from various sources and one of th em is internet. The name of various sites from where we have collected informati on and data are as follows. 1.www.titanindustries.in 2. www.worldtitan.com Besides these websites we have al so collected the data and information regarding our project from some business n ewspapers like Business standard and The Economic Times. I have also taken help from the following book to complete my report. -Research methodology- By C.R kot hari. 35

QUESTIONNAIRE Dear Sir/Madam, I am a student of Institute of Productivity and Man agement doing my PGDM course from there. As a part of my studies I m doing my Win ter Training on Titan Watches. I need to collect some data for this project and I request you to please cooperate me in completing my project by giving your valu able time and some feedback which is required in this questionnaire. For your th is kind cooperation I will be thankful to you. 1.Which type of watch do you to l ike to wear? a. Sports [ ] b. Formal c.Fashion [ ] d. Economy [ ] [ ] 2.Which brand you consider is number one in wrist watches? a. Titan c. Maxima [ ] [ ] b. HMT d. Any Other [ ] [ ] If any other please Specify ____________________________ 3.Which brand do you we ar? a. Titan [ ] b. HMT [ ] c. Maxima [ ] d. Any Other [ ] If any other please S pecify ____________________________ 4.If you wear Titan then which Brand you Prefer? a.Sonata [ ] b. Fastrack c.Edge [ ] d. Octane [ ] [ ] 5.Who influence you or suggest you to buy your watch? a.Family member [ ] b. Fri end c. Advertisement [ ] d. Yourself [ [ ] ] 6.Which factor you consider most while purchasing your watch? a Price [ ] b. Qua lity c.Brand [ ] d. Style [ [ ] ] 7.What is the range in which you buy wrist watch? a. Up to 1000 [ ] b. 1000-2000 c. 2000-3000 [ ] d. 3000& Above [ ] [ ] 36

8.Are you satisfied with your brand? a..Partly c. Not satisfied [ [ ] ] b.Highly [ ] 9.What you perceive about Titan after purchase? a.Status symbol [ ] b. Commonly used [ ] c. Any other [ ] If any other please Specify ____________________________ 10.Do you think that titan is an expensive brand? a. Highly [ ] b. slightly c normal [ ] [ ] PERSONAL DETAILS: 1. NAME : ______________________________ 2. ADDRESS: . 3. AGE GROUP: a. 21-30 years c. 41-50 4. OCCUPATION: a. HOUSEWIFE c. SERVICE 5. GENDER: a. MALE 6. ANNUAL INCOME a.02,00,00 c. 30000-40000 [ ] [ ] b. 2,00,00 3,00,00 d. Above 4,00,000 [ ] [ ] [ ] [ ] b. STUDENT d. BUSINESS [ [ ] ] [ ] b. FEMALE [ ] 37