Customer Satisfaction For Fastrack Watches

Customer Satisfaction on Fastrack Watches
A
Project Report on
CUSTOMER SATISFACTION FOR FASTRACK WATCHES
In Partial fulfillment of the

Requirement for the degree of
BACHELOR OF BUSINESS ADMINISTRATION
Submitted By:
LAD BRIJAL.G
Seat No.1557
TY.B.B.A. (IVth SEMESTER) (CBCS) (Marketing)
Submitted To:
MAULIK MODI
Assistant Professor
Smt. Z. S. Patel college of Management and Technology
BBA Programme
Palanpur Jakatnaka,
Surat.
Affiliated to
VEER NARMAD SOUTH GUJARAT UNIVERSITY, SURAT
April – May 2018
Smt. Z. S. Patel College of Management and Technology Page i

DECLARATION
I, LAD BRIJAL, hereby declare that the report on winter training in “CUSTOMER
SATISFACTION FOR FASTRACK WATCHES” is a result of my own work and
my indebtedness to other work/publication if any have been only acknowledged.
Date:
Place: Surat Lad Brijal
Smt. Z. S. Patel College of Management and Technology Page ii

TABLE OF CONTENTS
TABLE OF CONTENTS ......................................................................................... III
LIST OF TABLE ........................................................................................................ V
LIST OF CHART ..................................................................................................... VI
LIST OF FIGURE ................................................................................................... VII
CHAPTER 1: INTRODUCTION ............................................................................... 1
1.1 INDIAN WATCH INDUSTRY .......................................................................... 1
1.2 HISTORY OF WRIST WATCHES .................................................................... 1
1.3 COMPANY PROFILE ........................................................................................ 4
1.3.1 Titan Industry ................................................................................................ 4
1.3.2 Marketing Mix of Titan Industries ................................................................ 5
1.4 FASTRACK WATCHES .................................................................................... 6
1.4.1 Fastrack logo ................................................................................................. 9
1.4.2 Pricing ........................................................................................................... 9
1.5 WATCHES .......................................................................................................... 9
1.6 THEORETICAL BACKGROUND ................................................................... 11
1.6.1 Customer satisfaction .................................................................................. 11
1.6.2 Customer perception ................................................................................... 12
1.6.3 Brand ........................................................................................................... 12
1.6.4 Brand Customer Awareness ........................................................................ 12
1.6.5 Brand loyalty ............................................................................................... 13
CHAPTER 2: REVIEW OF LITERATURE .......................................................... 15
CHAPTER 3: OBJECTIVES OF THE RESEARCH ............................................ 17
CHAPTER 4: RESEARCH METHODOLOGY .................................................... 18
4.1 IDENTIFICATION OF PROBLEM ................................................................. 18
4.2 RESEARCH DESIGN ....................................................................................... 18
4.3 DATA COLLECTION ...................................................................................... 18
PRIMARY DATA: .............................................................................................. 18
SECONDARY DATA: ........................................................................................ 18
4.4 SAMPLING ....................................................................................................... 18
4.5 DATA ANALYSIS............................................................................................ 19
CHAPTER 5: DATA ANALYSIS ............................................................................ 20
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CHAPTER 6: FINDINGS, CONCLUSION AND SUGGESTION ...................... 39

FINDINGS ............................................................................................................... 39
CONCLUSION ........................................................................................................ 40
SUGGESTIONS ...................................................................................................... 41
CHAPTER 7: LIMITATIONS OF THE STUDY................................................... 42
BIBLIOGRAPHY ...................................................................................................... 43
WEBSITES: ............................................................................................................. 43
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LIST OF TABLE
Table 1 AGE ................................................................................................................ 20
Table 2 Gender ............................................................................................................. 21
Table 3 Education Qualification .................................................................................. 22
Table 4 Occupation ...................................................................................................... 23
Table 5 Willing to Spend ............................................................................................. 24
Table 6 came to know .................................................................................................. 25
Table 7 Use watch ........................................................................................................ 26
Table 8 Discount on watches ....................................................................................... 27
Table 9 Promotional offer ............................................................................................ 28
Table 10 Repair the watch ........................................................................................... 29
Table 11 Factor satisfies ............................................................................................. 30
Table 12 when considering price ................................................................................. 31
Table 13 opinion .......................................................................................................... 32
Table 14 next to buy .................................................................................................... 33
Table 15 collection of watches .................................................................................... 34
Table 16 complaints ..................................................................................................... 35
Table 17 satisfaction level ........................................................................................... 36
Table 18 Recommend other ........................................................................................ 38
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LIST OF CHART
Chart 1 Age .................................................................................................................. 20
Chart 2 Gender ............................................................................................................. 21
Chart 3 Education Qualification .................................................................................. 22
Chart 4 Occupation ...................................................................................................... 23
Chart 5 Willing to Spend ............................................................................................. 24
Chart 6 came to know .................................................................................................. 25
Chart 7 Use watch ........................................................................................................ 26
Chart 8 Discount on watches ....................................................................................... 27
Chart 9 Promotional offers........................................................................................... 28
Chart 10 Repair the watch............................................................................................ 29
Chart 11 Factor satisfies............................................................................................... 30
Chart 12 when considering price ................................................................................. 31
Chart 13 opinion .......................................................................................................... 32
Chart 14 next to buy..................................................................................................... 33
Chart 15 collection of watches ..................................................................................... 34
Chart 16 complaints. .................................................................................................... 35
Chart 17satisfaction level ............................................................................................. 36
Chart 18 Recommend other ......................................................................................... 38
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LIST OF FIGURE
Figure 1 Fastrack logo ................................................................................................... 9
Figure 3 Fastrack watch ............................................................................................... 10
Figure 2 Fastrack watch. .............................................................................................. 10
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CHAPTER 1: INTRODUCTION
1.1 INDIAN WATCH INDUSTRY
Wrist Watches from an integral part of the personality of individuals in the present
era. Earlier seen as a luxury item, they are now witnessing a fundamental change in
perception, and are now gaining respect as an essential utility item. Indian watches
market was for long dominated by public sector organization like Hindustan Machine
Tools Ltd.
In post liberalization India, the market stood to witness intensive competition between
foreign and Indian manufacturers like Timex, Titan, Movado, Longinus, Rado, Rolex,
Frederique and many others. Many watch makers have made significant inroads in the
industry and others are in the process of establishing themselves, currently.
Besides this, buyers are extremely choosy about the brand and type of wrist watches
they wear. Being extremely brand conscious, their tastes have evolved over the years
and have gone beyond the realms of durability to choose in terms of aesthetics and
elegance. Thus it is a buyer’s market with multitude of designs that have entered and
flooded the market place.
1.2 HISTORY OF WRIST WATCHES

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 100years 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 time²no pun intended. Wrist lets, as they were called, were reserved for women,
and considered more of a passing fad than a serious timepiece. In fact, they were held
Smt. Z. S. Patel College of Management and Technology Page 1

in such disdain that many a gentlemen were actually quoted to say they ³would 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.
Watch works were developed when coiled springs were introduced as a source of
power. This type of spring was used in Italy about 1450. About 1500 Peter Henlein, a
locksmith in Nürnberg, Germany, began producing portable timepieces known
popularly as Nürnberg eggs. In 1525 another artisan, Jacob Zech of Prague, invented a
fusee, or spiral pulley, to equalize the uneven pull of the spring. Other improvements
that increased the accuracy of watches included a spiral hairspring, invented about
1660 by Robert Hooke, for the balance wheel, and a lever escapement devised by
British inventor Thomas Mudge about 1765.
Minute and second hands, and crystals to protect both the dial and hands, first
appeared on 17th-century watches. Jeweled bearings to reduce friction and prolong
the life of watch works were introduced in the 18th century.
In the centuries that preceded the introduction of machine-made parts, craftsmanship

of a high order was required to manufacture accurate, durable clocks and watches.
Such local craft organizations as the Paris Guild of Clockmakers (1544) were
organized to control the art of clock making and its apprenticeship. A guild known as
the Clockmakers Company, founded in London in 1630, is still in existence. The
Netherlands, Germany, and Switzerland also produced many fine artisans whose work
was noted for beauty and a high degree of mechanical perfection.
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
³cupped´ 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 the1880s,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 ³pierced metal covers´, frequently called
shrapnel guards. These were basically metal grills (often made of silver), placed over
the dial of the watch²therebyprotecting 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 were come to the market.
1.3 COMPANY PROFILE

1.3.1 Titan Industry
Titan Industries is the world's fifth largest wrist watch manufacturer and India's
leading producer of watches under the Titan, Fastrack, Sonata, Nebula, RAGA,
Regalia, Octane & Xylys brand names. It is a joint venture between the Tata Group,
and the Tamil Nadu Industrial Development Corporation (TIDCO). Its product
portfolio includes watches, accessories and jewellery, in both contemporary and
traditional designs. It exports watches to about 32 countries around the world with
manufacturing facilities in Hosur, Dehradun, Goaand manufactures precious jewellery
under the Tanishq brand name, making it India's only national jewellery brand. It is a
subsidiary of the Tata Group.
Titan Watch division was started in 1987. At launch it was the third watch company
in India after HMT and Allwyn. Titan formed a joint venture with Timex, which
lasted until 1998, and setup a strong distribution network across India. As of 2010,
Titan watches account for a 60% share of the total Indian market and are also sold in
about 40 countries through marketing subsidiaries based in London, Aden, Dubai and
Singapore. Titan watches are sold in India through retail chains controlled by Titan
Industries.
Titan Industries has claimed to have manufactured the world's slimmest wrist watch -
Titan Edge. Produced indigenously after four years of research and development, the
Titan Edge has a total slimness of just 3.5 mm and a wafer thin movement of 1.15
mm. Apart from the Titan Edge, Titan also offers Steel, Regalia, Raga, Fastrack,
Technology, Nebula, Bandhan, Sonata, Octane, special RHosur, Tamil Nadu. Fastrack
is a popular brand among youth in India. Fastrack watches come in a variety of styles,
shapes and colors. On 4 March 2010, Titan Industries Announced the launch of its
very first Titan flagship store is located at Opposite Shoppers Stop, Bandar Linking
Road, Mumbai, India. Store is spread over a spacious 2,500 sq ft (230 m2) and houses
more than 1500 watches on display from Titan like Purple, Automatics, Orion, Raga,

Edge, Nebula, and many more. On November 16, 2011, Titan Industries acquired
Swiss watch maker Favre-Leuba for Euro 2 million.
Titan watches, the major Indian watchmaker embarked on the fashion watches
category with the launch of the Titan Fastrack watches in the year 1998. As the ever
changing fashion industry influenced the watch industry during this era, Titan watches
came up with the stylish and trendy Titan Fastrack watches collection.
Extraordinarily innovative technology coupled with a fresh sense of style in the Titan
Fastrack watches became an instant rage especially with youths. In the Titan portfolio
it is believed to contribute a 4% value. Significant rise in Titan Fastrack watches sales
has subsequently compelled Titan to establish it as a separate brand.
Titan has an enviable brand image in India, being ranked number 1 six times in the
last seven years, and second once. Reason for success- appeals to youth market and is
inspirational. Mass market brand with a strong presence at the lower end. ‘Mass with
class’ equally popular with men and women. Brand expenditure = £339,305 -
£407,166 brand building. Value for money. Titan ranks very highly in all surveys.
Company is now keen to translate its brand advantage in to profits.
1.3.2 Marketing Mix of Titan Industries

The company believes in diversity and through wrist watches are its main products, it
has also largely invested in eyewear, jewelry as well as in precision engineering.
Its product mix is has been clustered into these four main categories with specifics
being as follows:
1. Watches: Watch brands include Titan, Nebula, Tommy Hilfiger, Octane,
Fastrack and the Raga Orion
2. Eyewear: Fastrack accessories and Titan Eye+
3. Jewellery: Tanishq, Zoya, and Goldplus
4. Precision Engineering: Dashboard instruments, Precision Components,
Aerospace Automation solutions, Medical Automotives together with
Subsystems.

It has been proven that once someone likes a company’s product, they will always
trust the others even if they lie in different categories. It can, therefore, be said that the
continued innovation and development of products under different categories plays a
key role in positioning Titan Industries at the core of the Indian and global market.
1. Raga
The titan raga espuma draws inspiration from the many wonders of Spain. Its
contemporary take on things of the vibrant culture, makes these watches truly one-of-
a-kind. Each timepiece is a work of art displaying exquisite craftsmanship and Spain
in all its glory.
2. "Tommy" Hilfiger
Thomas Jacob "Tommy" Hilfiger (born March 24, 1951) is an American fashion
designer best known for founding the lifestyle brand Tommy Hilfiger Corporation in
1985. After starting his career by co-founding a chain of record stores in upstate New
York in the 1970s, he began designing preppy sportswear for his own
eponymous menswear line in the 1980s. The company later expanded into women's
clothing and various luxury items such as perfumes, and went public in 1992. In
1997, Hilfiger published his first book, titled All American: A Style Book and he have
written several since, including Tommy Hilfiger through Assouline in 2010. Hilfiger's
memoirs American Dreamer, co-written with Peter Knobler, were published
November 1, 2016.
1.4 FASTRACK WATCHES

Fastrack is the brand for the young generation which is part of the Titan brand. Many
brands have vice lines which target a separate segment of population. This helps to
maintain a unique identity for each brand and also helps the mother company to
differentiate the focus areas for the different brands. Thus, in India, Titan is a
company which is part of the renowned Tata group and it has launched Fastrack
which caters mostly to the young generation.
When a brand targets the youth, it needs to keep changing and reinventing itself to
stay in tune with the latest trends in the market which attract the urban youth. Fastrack

similarly is one such brand which has been changing its product lines, introducing
new elements in accessories as well as in designs so that it attracts the urban youth of
India today. It is said to be one of the inventive youth brands. Initially the brand
started off with watch designs which were trendy and youthful; since then it has
moved onto eyewear, bags which are again marketed in different eye catching ways.
While watches are marketed as wrist gear, sunglasses are marketed as eye gear. The
campaigns for Fastrack are loud and shocking, with taglines open to interpretation and
innovative designs in their showrooms.
Today Fastrack features a wide range of products for the young at heart. From
watches and sunglasses, they have moved onto bags, belts, wallets and even
wristbands.
Essentially Fastrack was a sub-brand endorsed by the Titan Brand. In most of the
campaigns, the brand was promoted as Titan Fastrack. The brand was targeting young
consumers who were moving towards the competitor Timex. It was during this time
that Timex and Titan parted ways.
Fastrack had a good start. During the first year, the brand clocked a turnover of Rs 15
crore. The good run continued till 2001-2002 and the brand was worth Rs 25 crore at
that period. But the sales stagnated. Although the brand appealed to the youngsters,
price was significant dampener. The brand found that the target group which
consisted of college students could not afford this brand.
During 2003-04, the brand went in for a repositioning exercise targeting executive
segment as well as casual watch segment. It was a suicidal experiment. The brand
sales came down to Rs 23 crore. The change in positioning did not fit well with the
brand. The consumers were not willing to pay Rs 1200-2700 for a watch that did not
have the executive image.
It was in 2004 that Fastrack launched its range of sunglasses. The move was made
after a consumer research which showed that mobiles/deo/sports shoes and sunglasses
are popular accessories in the purchase list of youngsters. And Sunglasses fitted
perfectly as a brand extension for Fastrack. In my personal view, sunglasses offered a

great opportunity for the brand. There was no Indian brand of sunglasses at that time.
The brands available were Ray-Ban and other foreign brands which were imported.
These brands were damn expensive and often consumers chose local unbranded
sunglasses.
In 2005, the brand went for another repositioning exercise with a new logo and new
positioning. The brand adopted the famous break-away positioning of Swatch. The
brand decided to target the youngsters again but for that the brand had to break the
price barrier. The brand discarded the steely look of the watches and looked at a mix
of plastic and steel. It was a perfect cut-copy from the strategy adopted by Swatch.
By doing so, the brand was able to reduce the price range to Rs 500.
The brand then took the help of advertising to change the perception of watches as a
functional tool to a fashion accessory. The brand launched a campaign with the slogan
“How many you have”.
The campaign, the positioning and the price was a great hit. The brand sales zoomed
to Rs 35 crore. The sunglasses also contributed significantly to this sales boost.
Fastrack have adopted the following core brand values.
 Fashionable and trendy
 Affordable Pricing
 Fresh Communication to attract the young consumers. The brand wanted to be
the ultimate fashion accessory for the youth.
Another advantage for this brand is the freshness that the agency had bought in its
communication. Most of the Fastrack ads have been refreshing. The brand had
adopted a 360 degree approach in its communication and it is an example of a brand
which had used Social media to its advantage.

1.4.1 Fastrack logo
Figure 1 Fastrack logo
1.4.2 Pricing
The price of the models of Fastrack ranged from Rs.550 to Rs 2,430 and was designed
exclusively keeping in mind the Generation X of the subcontinent. Titan‘s primary
pricing objective is to kill Competition. Being an Indian manufacture and infusing the
advantages of the Indian market with the dynamics of the western market the
company has carved itself a place difficult to achieve by foreign players.
1.5 WATCHES
There are various collections which can be found amongst the Fastrack watches. Each
collection signifies a certain style which is present in each of the models in that
collection. The New collection signifies all the latest models being introduced by
Fastrack while there are the Grunge, Hip Hop, Neon, Digital Fashion, Aluminum, and
Colour Play, Bikers, Army and others, each with their distinct range of watches.

Figure 2 Fastrack watch.
Figure 3 Fastrack watch
The Hip Hop range

The latest collection which is featured is the Hip Hop range. True to the flamboyant
style of the hip hop culture, the watches have distinct styles and surprise elements in
their design. The most stunning piece is the 3049YM01 for guys. This watch comes in
gold or white metal and is to be worn like a pendant on a chain around the neck. The
strap is in the form of a chain and the watch is designed like a pendant representing
the male symbol.
The Denim range

The Denim collection amongst Fastrack watches are unique and are highly in demand.
These feature mostly square designs where the case may be round but the dial is
square shaped. The dial shapes and case shapes differ in each model and so do the

straps. From leather to metal, there are straps which come in the denim material,
making it perfect for pairing with your favorite pair of jeans.
The Bikers range

If you look at the Bikers collection, you would be taken aback by some of the sleek
designs that this collection has for young women. Overall the designs are sporty and
come with round dials, leather or metal straps and are trendy and sporty in style.
The Army range

This range probably represents the most elaborate designs amongst Fastrack watches.
The straps are wide in which the watch is embedded. The dial is in the form of a
bullet and the glass is designed to camouflage the dial. The leather straps add an
expensive aura to these watches which are made for true army fans.
The other collections are all worth a look. The Color Play collection has classy
designs which flaunt square cases with bold patterned dials and have alligator skin
pattern leather straps. The Aluminum range features silvery white watches of different
designs while the Basics collection features watches in plastic and rubber.
Thus, there is ample choice when it comes to watches for young men and women
amongst Fastrack watches.
1.6 THEORETICAL BACKGROUND

1.6.1 Customer satisfaction
Customer satisfaction (often abbreviated as CSAT, more correctly CSat) is a term
frequently used in marketing. It is a measure of how products and services supplied
by a company meet or surpass customer expectation. Customer satisfaction is defined
as "the number of customers, or percentage of total customers, whose reported
experience with a firm, its products, or its services (ratings) exceeds
specified satisfaction goals."
The Marketing Accountability Standards Board (MASB) endorses the definitions,
purposes, and constructs of classes of measures that appear in Marketing Metrics as
part of its ongoing Common Language in Marketing Project. In a survey of nearly 200
senior marketing managers, 71 percent responded that they found a customer
satisfaction metric very useful in managing and monitoring their businesses.

It is seen as a key performance indicator within business and is often part of

a Balanced Scorecard. In a competitive marketplace where businesses compete for
customers, customer satisfaction is seen as a key differentiator and increasingly has
become a key element of business strategy.
1.6.2 Customer perception

Perceptions are always considered relative expectations. Because expectations are
dynamic, evaluation may also shift over the time – from person to person from culture
to cultures. Customers perceive the services in terms of the quality of the service and
how satisfied they are all over with their experiences. These customers – oriented
terms – quality and satisfaction – have been the focus of attention for executives and
researchers alike over the last decade or more. Companies today organize so that they
can compete more effectively by distinguishing themselves with respect to service
quality and improved customer satisfaction
1.6.3 Brand
Unique design, sign, symbol, words, or a combination of these, employed in creating
an image that identifies a product and differentiates it from its competitors. Over time,
this image becomes associated with a level of credibility, quality, and satisfaction in
the consumer's mind (see positioning). Thus brands help harried consumers in
crowded and complex marketplace, by standing for certain benefits and value. Legal
name for a brand is trademark and, when it identifies or represents a firm, it is called a
brand name. See also corporate identity.
1.6.4 Brand Customer Awareness

Brand Awareness; Brand awareness refers to the extent to which customers are able to
recall or recognize a brand. Brand awareness is a key consideration in consumer
behavior, advertising management, brand management and strategy development. The
consumer's ability to recognize or recall a brand is central to purchasing decision-
making. Purchasing cannot proceed unless a consumer is first aware of a product
category and a brand within that category. Awareness does not necessarily mean that
the consumer must be able to recall a specific brand name, but he or she must be able

to recall sufficient distinguishing features for purchasing to proceed. For instance, if a

consumer asks her friend to buy her some gum in a "blue pack", the friend would be
expected to know which gum to buy, even though neither friend can recall the precise
brand name at the time.
Different types of brand awareness have been identified, namely brand recall and
brand recognition. Key researchers argue that these different types of awareness
operate in fundamentally different ways and that this has important implications for
the purchase decision process and for marketing communications. Brand awareness is
closely related to concepts such as the evoked set and consideration set which
describe specific aspects of the consumer's purchase decision. Consumers will
normally purchase one of the top three brands in their consideration set.
Brand awareness is a key indicator of a brand's competitive market performance.

Given the importance of brand awareness in consumer purchasing decisions,
marketers have developed a number of metrics designed to measure brand awareness
and other measures of brand health. These metrics are collectively known as
Awareness, Attitudes and Usage (AAU) metrics.
To ensure a product or brand's market success, awareness levels must be managed

across the entire product life-cycle - from product launch through to market decline.
Many marketers regularly monitor brand awareness levels, and if they fall below a
predetermined threshold, the advertising and promotional effort is intensified until
awareness returns to the desired level.
1.6.5 Brand loyalty

The degree to which consumers are committed to particular brands of goods or
services depend on no. of factors: the cost of changing brands(switching cost), the
availability of substitutes, the perceived risk associated with the purchase, and the
degree to which they have obtained satisfaction in the past etc. It may be more costly
to change brands as awareness of substitutes is limited, and because higher risks may
accompany services, consumers are more likely to remain customers of particular
companies with services or goods. Greater search costs and monetary costs may be

involved in changing brands of services than in changing brands of goods. Because of

the difficulty in obtaining information about services, customers may be unaware of
alternative or substitutes for their brands, or they may be uncertain about the ability of
alternatives to increase satisfaction over present brands. If consumers perceive greater
risks with services, as is hypothesized here, they probably depend on brand loyalty to a
greater extent than when they purchase products. Brand loyalty, described as a means of
economizing decision effort by substituting habit for repeated, deliberate decision,
functions as a device for reducing the risks for consumer decisions.
Final reason for consumers being more brand loyal with services, is the recognition of the
need for repeated patronage in order to obtain optimum satisfaction from the seller.
Becoming a regular customer allows the seller to gain knowledge of the customer‘s tastes
and preferences, ensures better treatment, and encourages more interest in the consumer‘s
satisfaction. Thus a consumer may exhibit brand loyalty to cultivate a satisfying
relationship with the seller. This is more pre-dominant in the case of corporate
consumers, who regularly make purchases, year after year.
Brand loyalty has two sides. The fact that a service provider‘s own customers are brand
loyal is not a problem. The fact that the customers of the provider‘s competitors are
difficult to capture, however, creates special challenges. The marketer may need to direct
communications and strategy to the customers of competitors, emphasizing attributes and
strengths that he or she possesses and the competitor lacks. Marketers can also facilitate
switching from competitors ‘services by reducing switching costs.

CHAPTER 2: REVIEW OF LITERATURE
According to (kumar & Gangal, 2011) represent the level of customer satisfaction on
new generation banks. Customers’ satisfaction is an ambiguous and abstract concept
and the actual manifestation of the state of satisfaction will vary from person to
person and product/service to product/service. The sampling method was random
sampling method in which 100 randomly selected respondents. The data collection
was primary and secondary data.
According to (Huang, Impact of other customer failure on service satisfaction, 2008)

The data for this study were gathered by retrospective experience sampling. Data
were collected in a large-sized shopping mall in Northern Taiwan. Systematic
sampling was used to select participants as they walked through the entrances. A total
of sample size 142 female and 110 male customers, ranging in age from 18 to 64
years, with a median age of 37 years. The sampling method was open and closed-
ended question.
According to (Jayasubramanian, Sivasakthi, & Ananthi, 2016) represents the study

on customer satisfaction toward online shopping. The objective of study was to find
out the satisfaction level of the customer for online purchase and to know the specific
reasons for which purpose customers purchase in online. The research design used for
the study was descriptive. The sample size used for study was 50. The data collected
through questionnaires were analyzed using simple percentage analysis and ranking
analysis. The limitation of study was data collected for the research is fully on
primary data given by the respondents. There is chance for personal bias. So the
accuracy is not true.
According to (Rajeswari, 2015) represents the study on the customer satisfaction

towards online shopping in Chennai city. The objective of study was identifying
features that customers expect at an online shopping portal and to identify the
different payment and delivery systems preferred by the customers. Descriptive
research design adopted to identify and describe customer expectations. In Chennai
city there are thousands of online customers using online shopping sites for

purchasing products. In the present study, 105 online shopping customers based in
Chennai constitute the sample. The collection of data was primary and secondary
data.

CHAPTER 3: OBJECTIVES OF THE RESEARCH

1. To understand about the customer satisfaction for Fastrack watches.
2. To investigate whether the product quality of Fastrack watches is capable of
addressing all demand made by customer?
3. To understand the existing product quality in Fastrack watches.

CHAPTER 4: RESEARCH METHODOLOGY

4.1 IDENTIFICATION OF PROBLEM
Once the problem has been carefully defined, the researcher needs to establish the
plan that will outline the investigation to be carried out. The research design indicates
the steps that have been taken and in what sequence they occurred. It is a systematic
and purposive Investigation of facts with an objective of understanding the customer
satisfaction for Fastrack watches. The methodology that will be applied by the study
has been chosen in order to acquire information and deduce conclusions about the
Customer satisfaction for Fastrack watches‘. The main purposes of this study is to
obtain an insight into the problems faced by the Fastrack watches customers in order
to propose further recommendations for better customer satisfaction.
4.2 RESEARCH DESIGN

Research design is the arrangement of conditions for collection and analyze of data in a
systematic manner that aims to combine relevance to research purpose with economy in
procedure. Descriptive method is used to conduct this survey from customer.
4.3 DATA COLLECTION

PRIMARY DATA:
Information obtained from the original source by research is called Primary Data.
They offer much greater accuracy and reliability. The data was collected from the
respondents through the questionnaire with the help of Google forms.
SECONDARY DATA:
It means data that are already available i.e. it refers to the data which have already been
collected and analyzed by someone else. The data was collected from the websites,
research paper, books etc.
4.4 SAMPLING
There are two types of sampling:
1. Probability Sampling
2. Non-probability sampling

Used sampling techniques: Non-probability sampling, convenience sampling method

Sample Size: 100
4.5 DATA ANALYSIS

Various statistical tools have been used like frequency distribution, percentage
analysis with the use of MS Excel 2007 with various types of charts bar charts,
column charts, pie charts.

CHAPTER 5: DATA ANALYSIS

1. AGE OF THE RESPONDENTS
NO. AGE PERCENTAGE

1 Below 30 87%
2 30 To 40 6%
3 40 To 50 4%
4 Above 50 3%
TOTAL 100 100
Table 1 AGE
100%
90% 87%
80%
70%
60%
50%
40%
30%
20%
10% 6% 4% 3%
0%
Below 30 30 - 40 40 - 50 Above 50
Chart 1 Age
Interpretation:
As per analysis, responses are given by below 30 age group is 93% and 6% by 30 to
40 age group whereas 4% response is given by 40 to 50 age group and 3% by above 50
age group.

2. GENDER OF THE RESPONDENTS
GENDER
FREQUENCEY PERCENTAGE
Male 70 70%
Female 30 30%
Trans Gender 0 0
Total 100 100
Table 2 Gender
80% 70%
70%
60%
50%
40% 30%
30%
20%
10% 0
0%
Male Female Trans Gender
Percentage Column1 Column2
Chart 2 Gender
Interpretation:
As per analysis, 70 % male & 30 % female has filled the questionnaire. Majority of
responses are given by male.

3. EDUCATION QUALIFICATION OF THE RESPONDENTS
EDUCATION QUALIFICATION
Graduate 48 48%
Under Graduate 36 36%
Post Graduate 13 13%
Uneducated 3 3%
TOTAL 100 100
Table 3 Education Qualification
60%
48%
50%
40% 36%
30%
20%
13%
10%
3%
0%
Graduate Under Graduate Post Graduate Uneducated
Percentage
Chart 3 Education Qualification
Interpretation:
As per analysis, responder holding educational qualification of Graduate has given
response of 48% and 36% by Under Graduate and 13% by Post Graduate and 3%
Uneducated Majority of responses are given by Graduate holding responder.

4. OCCUPATION OF THE RESPONDENTS
OCCUPATION
Student 46 46%
Business 9 9%
Employee 43 43%
Unemployed 2 2%
TOTAL 100 100
Table 4 Occupation
50% 46%
45% 43%
40%
35%
30%
25%
20%
15%
9%
10%
5% 2%
0%
Student Business Employee Unemployed
Chart 4 Occupation
Interpretation:
As per analysis, 46% of responses are given by student & 9% of response by
businessmen whereas 43% & 2% responses are given by Employee and Unemployed
respectively

5. HOW MUCH ARE YOU WILLING TO SPEND FOR FASTRACK

WATCH?
FREQUENCY PERCENTAGE
500 – 1000 32 32%
1000 – 2500 50 50%
2500 – 7500 13 13%
>7500 5 5%
TOTAL 100 100
Table 5 Willing to Spend
60%
50%
50%
40%
32%
30%
20%
13%
10% 5%
0%
500 - 1000 1000 - 2500 2500 - 7500 >7500
Percentage
Chart 5 Willing to Spend
Interpretation:
As per analysis, 32% respondent are willing to spend 500 to 1000 and 50%
respondent are 1000 to 2500 willing to spend and 13% respondent are willing to
spend 2500 to 7500 whereas, 5% responses are willing to spend more than 7500.

6. HOW DO YOU COME TO KNOW ABOUT FASTRACK?
TV Advertisement 34 34%
Social Media 44 44%
Word of Mouth 17 17%
Print Media 5 5%
TOTAL 100 100
Table 6 came to know
50%
44%
45%
40%
34%
35%
30%
25%
20% 17%
15%
10% 5%
5%
0%
TV Advertisment Social Media Word of Mouth Print Media
Percentage
Chart 6 came to know
Interpretation:
As per analysis, 34% respondent are came to about Fastrack by TV advertisement,
44% responses are came to know by Social Media and 17% responses are came to
about Fastrack by word of mouth and 5% responses are came to by print media.
Majority responses are come to know about Fastrack by social media.

7. SINCE HOW LONG ARE YOU USING FASTRACK WATCHES?
0 – 6 Month 30 30%
6 – 12 Month 29 29%
12 – 18 Month 8 8%
More than 18 Month 33 33%
TOTAL 100 100
Table 7 Use watch
35% 33%
30% 29%
30%
25%
20%
15%
10% 8%
5%
0%
0 - 6 Month 6 - 12 12 - 18 More tham
Month Month 18 Month
Percentage
Chart 7 Use watch
Interpretation:
As per analysis, 30% respondent are use Fastrack watch 0 – 6 Month,29% respondent
use Fastrack watch 6 – 12 month and 8% respondent are use watch 12 – 18 month and
33% respondent are use Fastrack watch more than 18 month.

8. DO SPECIAL DISCOUNT ON WATCHES ATTRACT YOU TO MAKE

PURCHASE?
Yes 75 75%
No 25 25%
TOTAL 100 100
Table 8 Discount on watches
80% 75%
70%
60%
50%
40%
30% 25%
20%
10%
0%
Yes No
Percentage
Chart 8 Discount on watches
Interpretation:
As per analysis, 75% responses are attracting to special discount on watches and 25%
respondent are not attract on special discount.

9. WHICH PROMOTIONAL OFFER ATTRACTS YOU MORE?
Discount 45 45%
Coupons 15 15%
Free Gift 20 20%
Price Offers 20 20%
TOTAL 100 100
Table 9 Promotional offer
50% 45%
40%
30%
20% 20%
20% 15%
10%
0%
Discount Coupons Free Gift Price Offers
percentage
Chart 9 Promotional offers
Interpretation:
As per analysis, 45% of respondent are more attract on discount and 15% of responses
are attract on coupons , 20% respondent are attract on free gift and 20% of respondent
attract on price offer.

10. HOW MANY TIME DID YOU GO TO THE REPAIR THE WATCH?
Never 54 54%
One Time 37 37%
Two Time 6 6%
More than two time 3 3%
TOTAL 100 100
Table 10 Repair the watch
60% 54%
50%
40% 37%
30%
20%
10% 6%
3%
0%
Never One time Two time More than
two time
Percentage
Chart 10 Repair the watch
Interpretation:
As per analysis, 54% responses are never repair the Fastrack watch and 37%
respondent are one time repair the watch,6% responses are two time repair the watch
and 3% respondent are repair the watch more than two time. Majority responses are
never repair the Fastrack watches.

11. WHICH FACTOR SATISFIES YOU THE MOST?
Features 18 18%
Collection of product 8 8%
After sales service 0 0
Quality 39 39%
Looks 23 23%
Price 3 3%
Durability 6 6%
Availability 3 3%
TOTAL 100 100
Table 11 Factor satisfies
45%
39%
40%
35%
30%
25% 23%
20% 18%
15%
10% 8%
5% 3%
0
0%
Features collection After sales Quality Looks Price
of product sevice
Perceentage
Chart 11 Factor satisfies
Interpretation:
As per analysis, 18% respondent are satisfy with the features of Fastrack watches, 8%
respondent are satisfy with the collection of product of Fastrack watches and 39%
respondent satisfy with the quality of the watches,23% respondent are satisfy with
looks of watches and 3% respondent are satisfy with the price of the Fastrack watch.

12. WHAT DO YOU THINK ABOUT FASTRACK WATCHES WHEN

CONSIDERING ITS PRICE?
Affordable 52 52%
Overpriced 17 17%
Inexpensive 5 5%
Value for money 25 25%
Other 2 2%
TOTAL 100 100
Table 12 when considering price
60%
52%
50%
40%
30% 25%
20% 17%
10% 5%
2%
0%
Affordable Overpriced Inexpensive Value for Other
money
Percentage
Chart 12 when considering price
Interpretation:
As per analysis,52% respondent think that Fastrack watches are affordable in
price,17% respondent are think that Fastrack watches is overpriced and 5%
respondent are think that Fastrack watches is inexpensive and 25% respondent think
that the value for money.

13. WHAT IS YOUR OPINION ABOUT THE LOOKS OF FASTRACK

WATCHES?
Unique 46 46%
Trendy 28 28%
Fair 11 11%
Common 15 15%
TOTAL 100 100
Table 13 opinion
50% 46%
40%
30% 28%
20% 15%
11%
10%
0%
Unique Trendy Fair Common
Percentage
Chart 13 opinion
Interpretation:
As per analysis, 46% opinion that Fastrack watch is unique in looks and 28% opinion
that Fastrack watch is trendy, 11% responses that Fastrack watches is fair and 15%
responses is that Fastrack watches is common in looks. Majority responses are say
that Fastrack watches is unique.

14. HOW LIKELY IS THAT YOU BUY FASTRACK WATCH IN YOUR NEXT
BUY?
Strongly 36 36%
Fairly 27 27%
Sometimes 30 30%
Never 7 7%
TOTAL 100 100
Table 14 next to buy
40% 36%
35%
30%
30% 27%
25%
20%
15%
10% 7%
5%
0%
Strongly Fairly Someties Never
Percentage
Chart 14 next to buy
Interpretation:
As per analysis, 36% respondent are strongly that next time buy the Fastrack watch
and 27% responses are fairly to buy Fastrack watch, 30% responses are say sometime
to buy a watch and 7% responses that are never buy the watch.

15. WHAT IS YOUR OPINION ABOUT COLLECTIONS OF WATCHES OF

FASTRACK?
Excellent 37 37%
Good 51 51%
Fair 10 10%
poor 2 2%
TOTAL 100 100
Table 15 collection of watches
60%
51%
50%
40% 37%
30%
20%
10%
10%
2%
0%
Excellent Good Fair Poor
Percentage
Chart 15 collection of watches
Interpretation:
As per analysis, 37% responses are say that collection of watches is excellent and
51% responses say that collection is good, 10%responses are fair in collection and 2%
responses say that collection of watches is poor.

16. DO YOU HAVE ANY COMPLAINTS ABOUT FASTRACK WATCHES?
Poor after sales 5 5%
services
Poor features 5 5%
Spare parts are not 6 6%
available
Overpriced 14 14%
No complaints 67 67%
TOTAL 100 100
Table 16 complaints
80
70 67
60
50
40
30
20 14
10 5 5 6
0
Poor after sales Poor features Spare parts are Overpriced No complaints
services not available
Percentage
Chart 16 complaints.
Interpretation:
As per analysis, 5% respondent are complaints about poor after services and 5%
respondent are complaints about poor features and 6% respondent are complaint about
spare parts are not available and 14% respondent are complaints about overpriced and
67% respondent has no any complaints.

17. SATISFACTION LEVEL
satisfy neutral dissatisfy highly Total

Highly dissatisfy
satisfy
Satisfaction level of 31% 46% 19% 3% 1% 100
Fastrack
Fastrack watches quality 35% 46% 16% 2% 1% 100
satisfactory
Opinion about customer 29% 47% 22% 2% 0 100
service of Fastrack
Overall satisfaction with 32% 39% 25% 2% 2% 100
Fastrack watches
Table 17 satisfaction level
50% 46% 46% 47%

45%
39%
40% 35%
35% 31% 32%
29%
30% 25%
25% 22%
19%
20% 16%
15%
10%
5% 3% 2% 1% 2% 2% 2%
1% 0
0%
Satisfaction level of Fastrack watches Opinion about Overall satisfaction
Fastrack quality satisfactory customer service of with Fastrack watches
Fastrack
Highly Satisfy Satisfy Neatral Dissatisfy Highly dissatisfy
Chart 17satisfaction level

Interpretation:
As per analysis, 31% respondent are highly satisfy with the Fastrack,46% respondent
are satisfy with the Fastrack watch and 3% respondent are dissatisfy and 1%
respondent are highly dissatisfy with Fastrack watch.
35% respondent are highly satisfy with qualities of Fastrack watches,46% respondent
are satisfy with qualities of Fastrack, 16% respondent are no satisfy or not dissatisfy
with the qualities and 2% respondent are dissatisfy with qualities and 1% respondent
are highly dissatisfy with qualities of Fastrack watches.
29% respondent are highly satisfy with the customer service of Fastrack and 47%
respondent are satisfy with customer service,22% respondent are not satisfy or not
dissatisfy with the customer service of Fastrack watches.2% respondent are dissatisfy
with customer service of Fastrack.
The overall satisfaction with Fastrack watches are 32% respondent are highly satisfy
and 39% respondent are satisfy, 25% respondent are not much satisfy or not dissatisfy
and 2% respondent are dissatisfy and 2% respondent are highly dissatisfy.

18. DO YOU RECOMMEND OTHER TO PURCHASE FASTRACK?
Yes 86 86%
No 14 14%
TOTAL 100 100
Table 18 Recommend other
100%
90% 86%
80%
70%
60%
50%
40%
30%
20% 14%
10%
0%
Yes No
Percentage
Chart 18 Recommend other
Interpretation:
As per analysis, 86% respondent are say that recommend other to purchase Fastrack
watch and 14% respondent are not recommend other to purchase Fastrack watches.

CHAPTER 6: FINDINGS, CONCLUSION AND

SUGGESTION
FINDINGS
 87% responses are given by below 30 age group.

 70% responses are given by male.
 48% responses are given by graduate.
 Majority of respondents are aware about the various range of products
provided by Fastrack watches through social media.
 Majority of the respondent used the Fastrack watches for more than 18 month.
 Majority respondent are student.
 Majority of respondent are willing to spend 1000 – 2500 for Fastrack watches.
 Majority of respondent are attract to special discount on watches.
 Majority are respondent are satisfied with the qualities of the Fastrack
watches.
 Majority respondent are think that the Fastrack watch is affordable.
 Majority respondent opinion is looks of Fastrack watches is unique.
 The respondent opinion about collection of Fastrack is good.
 Majority of respondent are satisfied with the Fastrack watches.
 Majority of respondent are satisfied with the quality of Fastrack watches.
 47% responses are satisfied with the customer service Fastrack.
 39% responses are satisfied with overall performance of Fastrack watches.

CONCLUSION
On the growing influence of globalization on the Indian watch industry, a number of

global manufacturers are coming into the Indian watch industry. In such a dynamic
environment Fastrack need to be more quality conscious since the products offered
are almost similar by all the watch manufacturers in the industry. Fastrack needs to
take serious efforts to make it competitive and stable in the dynamic market situation
by focusing on the service quality aspects.
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. The main
factor forcing the customers to buy Fastrack watch is social media through the print and
electronic media.

SUGGESTIONS
 Customer of Fastrack watches is well known about the product range provided
by the brand.
 In order to improve its sales, ad promotion should be taken care, excellent
customer care should be provided and also it should reduce its service time.
 From the survey it is clear that majority of the customers were young people
and the advertisements, products offered by Fastrack watches exactly matches
the demand of youth. This makes Fastrack watches ahead of its competitors.

CHAPTER 7: LIMITATIONS OF THE STUDY
 Time taken to collect responses from respondent.

 The respondent has not responded properly.
 Chances of biased responses from the customers.

BIBLIOGRAPHY
WEBSITES:
 https://en.wikipedia.org/wiki/Fastrack_(fashion_accessories)
 http://www.sagmart.com/company/Fastrack
 http://www.researchersworld.com/vol2/issue4/Paper_20.pdf
 http://web.nchu.edu.tw/pweb/users/whh/research/13539.pdf
 https://www.academia.edu/11861879/A_STUDY_ON_THE_CUSTOMER_S
ATISFACTION_TOWARDS_ONLINE_SHOPPING_IN_CHENNAI_CITY

ANNEXURE
CUSTOMER SATISFACTION TOWARDS FASTRACK WATCHES
I, LAD BRIJAL, the student of SMT. Z. S. PATEL College of Management and

Technology, Surat studying in T.Y.BBA Sem-6. I am going to conduct a survey on
"CUSTOMER SATISFACTION TOWARDS FASTRACK WATCHES” amongst the
customer of Surat city. I would be grateful if you provide me with some of your
valuable time to answer a few questions. I assured that responses & your identity will
be kept secret.
Demographic information:
1 Name:
2 Age: Below 30 30 to 40
40 to 50 Above 50
3 Gender: Male Female

Trans Gender
4 Education
Qualification: Graduate Under graduate
Post Graduate Uneducated
5. Occupation: Student Business

Employee Unemployed

Customer Satisfaction For Fastrack Watches

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In Partial fulfillment of the

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CHAPTER 6: FINDINGS, CONCLUSION AND SUGGESTION ...................... 39

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1.2 HISTORY OF WRIST WATCHES

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In the centuries that preceded the introduction of machine-made parts, craftsmanship

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hands during battle. It is believed that Girard-Perregaux equipped the German

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1.3 COMPANY PROFILE

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1.3.2 Marketing Mix of Titan Industries

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1.4 FASTRACK WATCHES

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1.4.1 Fastrack logo

Figure 1 Fastrack logo

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Figure 2 Fastrack watch.

Figure 3 Fastrack watch

The Hip Hop range

The Denim range

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The Bikers range

The Army range

1.6 THEORETICAL BACKGROUND

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It is seen as a key performance indicator within business and is often part of

1.6.2 Customer perception

1.6.4 Brand Customer Awareness

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to recall sufficient distinguishing features for purchasing to proceed. For instance, if a

Brand awareness is a key indicator of a brand's competitive market performance.

To ensure a product or brand's market success, awareness levels must be managed

1.6.5 Brand loyalty

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involved in changing brands of services than in changing brands of goods. Because of

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CHAPTER 2: REVIEW OF LITERATURE

According to (Huang, Impact of other customer failure on service satisfaction, 2008)

According to (Jayasubramanian, Sivasakthi, & Ananthi, 2016) represents the study

According to (Rajeswari, 2015) represents the study on the customer satisfaction

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CHAPTER 3: OBJECTIVES OF THE RESEARCH

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CHAPTER 4: RESEARCH METHODOLOGY

4.2 RESEARCH DESIGN

4.3 DATA COLLECTION

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Used sampling techniques: Non-probability sampling, convenience sampling method

4.5 DATA ANALYSIS

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CHAPTER 5: DATA ANALYSIS