A STUDY ON BRAND PREFERENCE OF TITAN WATCHES

A report submitted in partial fulfilment of the Master of Business

Administration in Thiagarajar School of Management

SUBMITTED BY
Monika M.S.

1511060

Under the guidance of: Dr. M. Jeevananthan

Thiagarajar School of Management

Madurai-625015
APRIL 2016

ACKNOWLEDGEMENT

The culmination of the project work is cornerstone in the life of

any student with the project guide being the driving force
behind. I would like to sincerely thank my project guide Dr. M.
Jeevananthan for giving us an opportunity to do this research
project for our internal evaluation of research methodology and
whose experience and knowledge has helped us immensely in
successful completion of this project.
I am also grateful to our Institute for its guidance.
Working on this project has been a great learning experience. I
am also thankful to all concerned people who have played an
active role in the successful completion of this project.

EXECUTIVE SUMMARY
2

Titan entered the watch market as a premium watch. But the

unorganized sector and low priced options from HMT gave Titan
serious competition. The unorganized sector grew very fast
almost 55% of the demand in the total market size of 45million
watches was being met by the unorganized sector. With the
import duty reduced to 25% (earlier 50%) and with the import
license for watch movement being easy to obtain, many smalltime players cropped up. These small players offered
competition to Titan on the price front. Thus Titan launched low
priced segment Sonata.
Titan has been facing a dilemma that whether it should market
these brands as independent sub-brands or not, but it because
of the high costs carried on with status quo but with more
emphasis on segments.
It is also putting in place a strategy to tap the rural market
rigorously. While has the product and the brand for this market
in the form of 'Sonata', and reach in terms of distribution, but in
terms of Titan they don't have the communication. Mistake
companies generally make in approaching the rural market is to
see as one large lump, while in reality the market is very
segmented and distinct.
Titan has been the first one to build upon style, but in terms of
marketing if we consider Classique or any other brand it was
not targeting any particular segment initially with a focus,
whether it was the youngsters or the Children. Thus there was a
need to foray into these already present segments.

LIST OF FIGURES

S. No.

Figure no

Title

3.1

Responses collected through questionnaire

08

4.1

figure showing responses entered in spss

10

4.2

4.3

figure showing result of crosstab analysis between

gender and preference of TITAN
figure showing the analysis why customer shifting
fromTITAN.

Page Number

11
12

figure showing the relation between monthly

5

4.4

4.5

income and the brand preference of TITAN

figure showing result of frequency analysis of after
service rating

13

14

figure showing result of frequency analysis of

7

4.6

occasion on which TITAN Watches are bought

15

TABLE OF CONTENT

CHAPTER 1

CHAPTER 2
CHAPTER 3

CHAPTER 4
CHAPTER 5

CHAPTER 6

TOPIC
ACKNOWLEDGEMENT

PAGE NO.
I

EXECUTIVE SUMMARY

Ii

LIST OF FIGURES

iii

INTRODUCTION

1.1 Background
1.2 Scope of the study
1.3 Objective of the Study

1
1

REVIEW OF LITERATURE
2.1 Review of literature
RESEARCH METHODOLOGY
3.1 Source of Data

1
2
2
6
6

3.2 Data Collection

3.3 Tools for Analysis

ANALYSIS AND INTERPRETATION
4.1 Analysis and Interppretations
RECOMMENDATION AND LIMITATION
5.1 Findings

9
10
10
16
16

5.2 Recommendations

16

5.3 Limitations
CONCLUSION

17
18

APPENDIX
i. Questionnaire
ii. References
iii. Bibliography

1. INTRODUCTION
1.1 Background
Today human begins work with the time. The various activities to be
performed on generally prescribed on the basis of time factor. Thus time is
considered to be a fresher factor in every walk of life. Now-a-days we find no person
without a wrist watch and a home without a clock. Thus the watches have become
almost a necessity for human begins; to whichever economic class they belong.
In the 18th and 19th century watch industry has flourished in western world
only, specifically Switzerland but the second half of the 20th century has seen India
emerging an important manufacturer of watches. Titan Industries a TATA group
company as created history in the Indian watch industry by manufacturing and
marketing different brands of watches not only in Indian market but also in the
international market. This project work titled A STUDY ON BRAND PREFERENCE
OF TITAN WATCHES is an effort to study the market response to Titan brand of
watches.

1.2 Scope of the study

Study covers the awareness of the consumer towards Titan watches, the
market share of Titan watches, the reasons of buying the Titan watches and the
consumer attitude towards the price of the Titan watches.

1.3

Objective of the Study

The objective is to determine the customer behaviour towards TITAN watches,

their preference factors and their negligence.

2. REVIEW OF LITERATURE
2.1 Review of Literature
1

Dr. Josephine Lourdes De Rose[1]

Findings
Urbanization and an aspiration for a better life supported by higher incomes
are reshaping the Indian consumer market. The consequence of this is the emerging
Indian consumer who is eager to place his riches on brand, quality and convenience
and willing to explore and experiment. Indian consumer has remained the most
positive about job prospects and personal finances and has consistently reported the
highest consumer confidence score. Growing economy and rising consumerism
endorses itself in the Indian Watch Market also. The study highlights the gradual
transformation of watches in India, from time keeping devices to a fashion accessory.
This research study attempts to study the attributes preferred by the consumers of
wrist watches through a conjoint analysis as this industry offers a plethora of
opportunity to domestic and international marketers. It outlines the attributes that
contribute to the consumer likings as the manufacturers would incorporate these
aspects in their product strategies to survive under dynamic market conditions.
Dr. Kunal Bhattacharya, Dr. Shikha Jain and Prof. Avadhoot Pol [2]
Findings
Post-economic

reforms

of

1991,

Indias

economy

has

witnessed

transformational changes. Economic growth has shown considerable acceleration,

which amply reflects in rising disposable incomes and purchasing power.
Contemporary Indian consumer shows remarkable signs of maturity from what he
was in the 80s and 90s. This is not only supported by his ability to buy but also
availability of substantial options present across the board in all goods and services
category. Today the Indian consumer stands assertive and well-informed, clear about
the choices he makes and why does he do so. The proposed research study
attempts to study the Watch Market in India from a macro and a micro perspective.
The macro study endeavours to understand the changing demographic profile of the
Indian consumer market and its manifestations on buyer behaviour for watches. The
micro perspective outlines specific market strategies adopted by watch vendors and
their take on evolving watch markets in the country. The research work is based in
Pune city which epitomizes emerging India. It is among the largest metropolitan
economy in the country with one of the highest per capita income earning populous.
2

One of the most vibrant markets in Western India, it stands out as extremely
attractive for any goods and services provider.
Prof. Rajesh Kumar Sharma[3]
Finding
Strength of a nation is now measured based on the level of technology it
possesses and with the "technovation" (technology and innovation) is the key for
growth of the organization. It is the single most important factor that drives
organization. Organizations are likely to sustain that are able to identify consumer
preferences, predict market trends, innovate new products and produce world class
product and services. In this scenario, there is a need to clearly identify new
technology, modern manufacturing processes, ensure quality in production and
improve skills of the employees so that they are able to adapt to new environment.
By doing so organizations are expected to improve upon their knowledge
management function. It is therefore essential to understand new technology
paradigm and dovetail skilled human resource in the process to achieve human
factor engineering to enable quality product and services are rendered to the society.
It is in the light of the above; HR functions are required to be seen to meet the impact
of technology. The article examines the current trend in new technology and
development of human skills in its light.
Aner Tal, PhD; Scott Zuckerman, MD and Brian Wansink, PhD[4]
Finding
Television (TV) has generally been blamed for helping make Americans
overweight owing to both its distracting influence and its encouragement of a
sedentary lifestyle.

Indeed, a recent correlational analysis of dinner patterns

illustrated that the frequency of TV viewing during dinner was 1 of the 2 largest
correlates of adult and child body mass index.
However, the focus to date has been on the medium and not the message. Granted,
TV may lead distracted viewers to mindlessly eat past the point at which a person
would usually stop. In this, it is not unlike other distracting activities that increase
food intake, such as reading, listening to the radio, and interacting with dining
3

companions. However, little is known about whether the content, valence, or pace of
content influences how much a viewer eats while watching TV. For instance, how do
objective technical characteristics, such as the frequency of visual camera cuts or
the variation in sound, influence how much food is eaten?

Alex Migicovsky, Zakir Durumeric, Jeff Ringenberg, and J. Alex Halderman [5]
Finding
Many companies have recently started to offer wearable computing devices
including glasses, bracelets, and watches. While this technology enables exciting
new applications, it also poses new security and privacy concerns. In this work, we
explore these implications and analyze the impact of one of the first networked
wearable devicessmartwatches on an academic environment. As a proof of
concept, we develop an application for the Pebble smartwatch called ConTest that
would allow dishonest students to inconspicuously collaborate on multiple-choice
exams in real time, using a cloud-based service, a smartphone, and a client
application on a smartwatch. We discuss the broader implications of this technology,
suggest hardware and software approaches that can be used to prevent such
attacks, and pose questions for future research.
Sandeep Bhanot[6]
Findings
The concept of luxury has been present in various forms since the beginning
of civilization. Its role was just as important in ancient western and eastern empires
as it is in modern societies. With the clear differences between social classes in
earlier civilizations, the consumption of luxury was limited to the elite classes. It also
meant the definition of luxury was fairly clear. Whatever the poor cannot have and
the elite can was identified as luxury. The purpose of the study is to understand the
growth of the luxury market in India and abroad, to study the profile of Indian luxury
customers, to study the luxury industry with respect to luxury watches and suits and
to study the purchase behaviour of luxury customers with respect to luxury watches
and suits and what motivates them to buy these products. A secondary study is done
4

about the luxury market globally and in India, the profile of luxury customers in India
and the luxury industry with respect to watches and apparel and accessories. Then a
primary study has been done by taking 50 respondents for luxury suits and for luxury
watches from different areas in Mumbai to find out about their purchase behaviour.
Thales S. Teixeira[7]
Findings
Attention is a necessary ingredient for effective advertising. The market for
consumer attention (or eyeballs) has become so competitive that attention can be
regarded as a currency. The rising cost of this ingredient in the marketplace is
causing marketers to waste money on costly attention sources or reduce their
investment in promoting their brands. Instead, they should be thinking about how to
buy cheaper attention and how to use it more effectively. Research in the emerging
field of the Economics of Attention shows how this can be achieved. Here, I argue
that, irrespective of the means to attain it, attention always comes at a price. I also
show that the cost of attention has increased dramatically (seven to ninefold) in the
last two decades. To counteract this trend I propose novel approaches to lower its
cost or use attention more efficiently by adopting multitaskertailored ads, Lean
Advertising, and Viral Ad Symbiosis. To guide the choice of which approach to take, I
propose the Attention contingent Advertising Strategy, a framework to match the
most effective approach to the quality of attention contingently available. As the
value of attention rises, marketers need to become better managers of attention.
This paper is intended to help them in this regard.

3. RESEARCH METHODOLOGY

 Gaining knowledge about the product and services offered

by titan watches
Framing a questionnaire for collection of primary data.
Conducting a market survey by taking the responses of
the customers around the mapped markets.
Analysing the data
Sampling method-purposive sampling
Data collection methodpreparing a questionnaire.

primary

data

collection

by

Secondary data collection through the internet.

3.1 Source of the Data
The required data for the study is collected from Questionnaire. The
responses collected for the purpose is a primary data. Data collected by the
investigator himself/ herself for a specific purpose . An advantage of using primary data

is that researchers are collecting information for the specific purposes of their study.
In essence, the questions the researchers ask are tailored to elicit the data that will
help them with their study. Researchers collect the data themselves, using surveys,
interviews and direct observations.
Secondary data is a data previously collected for any purpose other than the one at
hand. Secondary data originating within the company includes documents such as
annual reports, reports to shareholders, product testing results perhaps made
available to the news media and house periodicals composed by the companys
personnel for communication to employees, customers or others.
Innumerable outside sources of secondary information also exist in the forms
of government departments and agencies that compile and publish summaries of
business data. Trade and industry associations also publish secondary data. Still
more data are available in business periodicals and other news media that regularly
6

publish studies and articles on the economy, specific industries and even individual
companies.
Secondary data saves time and money if they help solve he researchers
problem. Even if the problem is not solved, secondary data have other advantages.
They can aid in formulating the problem statement and suggest research methods
and other types of data needed for solving the problem. In addition, secondary data
can pinpoint the kinds of people to approach and their locations and serve as a basis
of comparison for other data.

3.2 Data Collection

The data required for the study is collected from the responses through
questionnaire. The questionnaire used for the survey is closed ended.

Questionnaire
A questionnaire is

a research instrument

consisting

of

series

of questions and other prompts for the purpose of gathering information from
respondents. It serves four basic purposes: to (1) collect the appropriate data, (2)
make data comparable and amenable to analysis, (3) minimize bias in formulating
and asking question, and (4) to make questions engaging and varied.
Questionnaires have advantages over some other types of surveys in that they are
cheap, do not require as much effort from the questioner as verbal or telephone
surveys, and often have standardized answers that make it simple to compile data.
However, such standardized answers may frustrate users. Questionnaires are also
sharply limited by the fact that respondents must be able to read the questions and
respond to them. Thus, for some demographic groups conducting a survey by
questionnaire may not be concrete.
The responses of the questionnaire are collected through google form.

Fig 3.1: Responses collected through questionnaire

Sample
In statistics and quantitative research methodology, a data sample is a set
of data collected

and/or selected

from

a statistical

population by a

defined

procedure. The elements of a sample are known as sample points, sampling units or
observations.
Typically,

the

population

is

very

large,

making

a census or

complete enumeration of all the values in the population impractical or impossible.

The sample usually represents a subset of manageable size. Samples are collected
and

statistics

are

calculated

from

the

samples

so

that

one

can

make inferences or extrapolations from the sample to the population. The data
sample may be drawn from a population without replacement, in which case it is
a subset of a population; or with replacement, in which case it is a multisubset.
Sample size
Sample size determination is the act of choosing the number of observations
or replicates to include in a statistical sample. The sample size is an important
feature of any empirical study in which the goal is to make inferences about
a population from a sample. In practice, the sample size used in a study is
determined based on the expense of data collection, and the need to have
sufficient statistical power. In complicated studies there may be several different
sample sizes involved in the study: for example, in astratified survey there would be
8

different sample sizes for each stratum. In a census, data are collected on the entire
population; hence the sample size is equal to the population size. In experimental
design, where a study may be divided into different treatment groups, there may be
different sample sizes for each group.

3.3 Tools for Analysis

SPSS
SPSS Statistics is a software package used for statistical analysis. Long
produced by SPSS Inc., it was acquired by IBM in 2009. The current versions (2015)
are officially named IBM SPSS Statistics. Companion products in the same family
are used for survey authoring and deployment, data mining, text analytics, and
collaboration and deployment. The software name originally stood for Statistical
Package for the Social Sciences (SPSS), reflecting the original market, although the
software is now popular in other fields as well, including the health sciences and
marketing. SPSS is a widely used program for statistical analysis in social science.
Statistics included in the base software:
1. Descriptive statistics: Cross tabulation, Frequencies, Descriptives, Explore,
Descriptive Ratio Statistics
2. Bivariate statistics: Means, t-test, ANOVA, Correlation (bivariate, partial,
distances), Nonparametric tests
3. Prediction for numerical outcomes: Linear regression
4. Prediction for identifying groups: Factor analysis, cluster analysis (two-step,
K-means, hierarchical), Discriminant
Analytics plays an increasingly important role in helping your organization achieve its
objectives. The IBM SPSS Statistics family delivers the core capabilities needed for
end-to-end analytics. To ensure that the most advanced techniques are available to
a broader group of analysts and business users, we have made enhancements to
the features and capabilities of IBM SPSS Statistics Base and its many specialized
modules. IBM SPSS Statistics Base enables users to view analytical results on their
smart devices for data-driven decision making wherever they happen to be. The
latest release also provides additional simulation modeling techniques to improve
modeling and risk analysis, and numerous enhancements to strengthen overall
performance.

4. ANALYSIS AND INTERPRETATIONS

4.1 Analysis and Interpretations
The response which was obtained through google form was entered in SPSS.
Various analyses were done with the collected data to study the brand preference of
TITAN among customers.

Fig 4.1: figure showing responses entered in spss

All the analysis options are present in the Analysis menu.
1. Cross tabulation between the gender and preference of TITAN watches were
studied. Following are the output obtained based on the analysis.

Gender * Are_you_a_customer_of_titan Crosstabulation

Count
Are_you_a_customer_of_titan
NO
Gender
Total

Total

YES

female

24

29

male

10

21

38

15

45

67

10

Fig 4.2: figure showing result of crosstab analysis between gender and preference of
TITAN
In this analysis there are 3 types of customers male, female and people dont wear
watches. The analysis says that maximum female customers are preferring TITAN
watches.

11

2. Cross tabulation between number of customers shifting the brand and reason
for brand shifting from TITAN.

Are_you_willing_to_change_the_brand_from_TITAN *
Reason_why_you_dont_prefer_TITANChanging_from_TITAN_ Crosstabulation
Count
Reason_why_you_dont_prefer_TITANChanging_fro

Total

m_TITAN_
Attractive

Less collection

Price

Are_you_willing_to_change

_the_brand_from_TITAN

Yes

Total

Fig 4.3: figure showing the analysis why customer shifting from TITAN.

12

From the analysis it is clear that most people change the brand from TITAN because
of its price.

3. Using the regression analysis the relation between the monthly income and
reason for preferring TITAN watches are studied.

Variables Entered/Removeda
Model

Variables

Variables

Entered

Removed

Monthly_income

Method

. Enter

a. Dependent Variable:
Why_do_you_prefer_TITAN_brand
b. All requested variables entered.

ANOVAa
Model

Sum of Squares
Regression

df

Mean Square

.332

.332

Residual

40.912

43

.951

Total

41.244

44

Sig.
.558b

.349

a. Dependent Variable: Why_do_you_prefer_TITAN_brand

b. Predictors: (Constant), Monthly_income

Coefficientsa
Model

Unstandardized Coefficients

Standardized

Sig.

Coefficients
B
1

Std. Error

(Constant)

3.585

.522

Monthly_income

-.068

.114

Beta

-.090

6.869

.000

-.591

.558

a. Dependent Variable: Why_do_you_prefer_TITAN_brand

Fig 4.4: figure shows the relation between monthly income and the brand preference
of TITAN
From the analysis it is clear that there is no significant relation between monthly
income and the brand preference of TITAN.
13

4. Frequency analysis for after sales service and also on what occasion a
customer buy TITAN are analysed and the result for the analysis are as below.
How_would_you_rate_after_sales_service
Frequency

Percent

Valid Percent

Cumulative
Percent

Above average

Valid

Missing

11.9

17.8

17.8

Average

10

14.9

22.2

40.0

Excellent

1.5

2.2

42.2

Good

25

37.3

55.6

97.8

Poor

1.5

2.2

100.0

Total

45

67.2

100.0

System

22

32.8

67

100.0

Total

Fig 4.5: figure showing result of frequency analysis of after service rating
Most of the customer who prefer wearing TITAN watches say after sales service was
good for TITAN.

14

On_occasion_do_you_intend_to_buy_a_titan_brand
Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Missing
Total

Birthday gift

13

19.4

28.9

28.9

casual buying

26

38.8

57.8

86.7

Parting gift

4.5

6.7

93.3

wedding anniversary

4.5

6.7

100.0

Total

45

67.2

100.0

System

22

32.8

67

100.0

Fig 4.6: figure showing result of frequency analysis of occasion on which TITAN
Watches are bought
Most of the customer purchased TITAN watches for casual wear.

15

5. RECOMMENDATION AND LIMITATION

5.1 Findings
From the analysis it was found that most of the people who wear watch prefer
TITAN as their brand. The preference of TITAN was because of its quality, its after
sales service and its brand name. Some people dont prefer TITAN and some tend to
change its brand the main reason behind the change was its price.

5.2 Recommendations
The survey of consumers has revealed the like and dislikes and taste
regarding wrist watches and
satisfaction level in relation to Titan industries Ltd. The consumers have forwarded
the following suggestions for the consideration of the company and dealers.
1. The respondents feel that the price of Titan watches is too high. They anticipate a
reduction in the price, which can be affordable to all common class of people.
2. The service for the new watches should be improved.
3. One service mechanic must be provided by the company at every showroom to
ensure consumers good service and advice.
4. Some respondents feel that the price of spares of Titan watches is high and
suggest for a reduction in prices.
5. Some more attractive festival offers and gifts should be given on purchases.
6. All varieties of watches should be made available in show room, which cater to the
taste of different income group customers.
7. Quality of the leather straps (belt) of watches should be improved.
8. Advertisements in local media should be increased. This may cover rural areas
also.
9. Guarantees should be given for costly interior parts of watch.
10. Some respondents suggested that Titan industries Ltd., should manufacture
separate kids and sports watches.
11. The dealer has to improve after sales service to satisfy the customers.

16

5.3 Limitations
Usually the market is indifferent to providing information
about their personal likes & dislikes.
The customers are busy throughout the day. So they have
to be approached tactfully so as to get the required
information.
They have to be convinced about the secrecy
information and then the primary data is collected.

of

The customers have to be convinced about the product

and so one needs to have a thorough knowledge of the
product before interacting with them.

17

6. CONCLUSION
6.1 Conclusion
The Titan brand of watches coming from the Titan industries is known for
quality and performance in the domestic and international markets. The consumer of
Titan brand watches are highly satisfied customers having pride in owning and
wearing the most sophisticated, highly reliable and superior performance watch.
Titan brand watches are in great demand not only in India but also abroad. It is
owing to a fact that they come from a Tata group company. The turnover of titan
brand of watches has shown uptrend from year to year. Titan watches enjoy a
lions share in the domestic watch market. Though, there, is increasing demand for
all varieties of Titan a watch, a few suggestions given by the respondents is to be
considered by Titan industries. The company has to put its efforts in improving
quality of its watches, introduce new varieties with changing out look to appeal and
attract potential customers for its products. Again the company can also consider for
a reduction in the prices which may make it market leader in the years to come.
Finally it can be said that the performance of Titan watches is not only amazing but
also highly satisfactory. The company can achieve further success by improvement
the suggestions of the consumers.

18

APPENDIX
QUESTIONNIARE
1. Gender

male

female
2. Age

< 20Years

21-30 years

30-40years

40+
3. Occupation

Student

Businessmen/Professional

Govt employee

Other:
4. Monthly income

below 15000

15000-20000

20000-30000

30000 above

NIL
5. How often you wear wrist watches?

Regular

Occasion

Don't wear watches

6. Are you a customer of TITAN?

YES

NO

Brand Preference of TITAN

1. Which brand of TITAN do you possess?*Required

Titan

Fastrack

Raga

Nebula

Others
2. Since how many years you have been using TITAN?*Required

< 1 year

1-3Years

2-5 Years

5 Years above
3. Why do you prefer TITAN brand*Required

Attractive

Reasonable price

Brand image

Good quality
4. How would you rate the design of TITAN *Required

Poor

Average

Above average

Good

Excellent
5. How would you rate after sales service*Required

Poor

Average

Above average

Good

Excellent

6. What type of Watch do you wear*Required

Sports

chain

Bracelet

others
7. What type of strap do you prefer*Required

Leather

Metal
8. On occasion do you intend to buy a titan brand*Required

Parting gift

Birthday gift

casual buying

wedding anniversary
9. Are you willing to change the brand from TITAN*Required

Yes

No

Reason: why you don't prefer TITAN\Changing from TITAN *Required

Attractive

Less collection

Price

Quality

LIST OF REFERENCES
1. Dr. Josephine Lourdes De Rose , Research Article / Survey Paper / Case
Study International Journal of Advance Research in Computer Science
and Management Studies Volume 3, Issue 6, June 2015
2. Dr. Kunal Bhattacharya, Dr. Shikha Jain and Prof. Avadhoot Pol The
Changing Demographic Profile of the Middle Class Indian Consumer in a
Developing Market and its Manifestations on Buying Behaviour for Wrist
Watches An Analytical Study, Kunal Bhattacharya, 2011.
3. Prof. Rajesh Kumar Sharma, IMPACT OF INFORMATION TECHNOLOGY ON
HUMAN RESOURCE DEVELOPMENT, Shakti International Journal of
Management & Research & Development (A referred Journal) Vol-1
Issue-1 March 2013.
4. Aner Tal, PhD; Scott Zuckerman, MD and Brian Wansink, PhD, Watch
What You EatAction-Related Television Content Increases Food Intake
5. Alex Migicovsky, Zakir Durumeric, Jeff Ringenberg, and J. Alex Halderman,
Outsmarting Proctors with Smartwatches: A Case Study on Wearable
Computing Security.
6. Sandeep Bhanot, A STUDY OF THE LUXURY BRAND MARKET WITH
RESPECT TO SUITS AND WATCHES
7. Thales S. Teixeira, The Rising Cost of Consumer Attention: Why You Should
Care, and What You Can Do about It.

BIBILIOGRAPHY
http://www.spss.co.in/products.php?p=statistics
http://www.myaccountingcourse.com/financial-ratios/
http://www.investopedia.com/university/ratio-analysis/using-ratios.asp