Consumer Behavior Assignment

Segment ‘Wrist Watches’PRESENTED TO –

PROF. KRISHNAMOORTHY.V

Presented by – Group no. 2Group Members – Amritesh (05)Ravi Rajiv (31)Madhu Vinita (40)Nikita Phutela (51)Shashikant Sharda (80)Siddhant Shrivastava (83)Vivek Kapate (100)

INTRODUCTION

• INDUSTRY: Luxury Goods• FOUNDED: 1987• HEADQUARTERS: Bangalore (INDIA)• AREA SERVED: Global• KEY PEOPLE: Vikram Kapoor (CHAIRMAN)

Bhaskar Bhatt(MD)• REVENUE: Rs. 9914 Crore• NET INCOME: Rs.700 Crore (Appx)• PARENT: TATA GROUP• CONSUMERS: All Segment• MARKET SHARE: 60%

CONSUMER BEHAVIOUR:

Consumer behavior is the study of individual, groups, or organizations and the processes they use to select, secure, and dispose of product, services, experiences or ideas to satisfy needs and the impact these processes have on the consumer and society.

IMPORTANCE OF CONSUMER BEHAVIOUR FOR TITAN:

• Consumer is the “KING” in the market• Cut throat competition• Various market segment• Taste and preference of consumers

APPLICATION OF CONSUMER BEHAVIOUR BY TITAN:

• Brand recall

• Launched various brands to cater different market segment.

• To analyze market opportunity.

• Helps in modification of product.

EVOLUTION OF CONSUMER BEHAVIOR AS A FIELD OF STUDY AND ITS RELATIONSHIP WITH

MARKETING

• Consumer behavior at the time of evolution:

‘Positivism’- Marketer influences consumer behavior.

• Consumer behavior in today’s scenario:

‘Interpretivism’- Consumer behavior influences marketer.

Consumer Model

Economic View (Rational) – Sonata Watches

Cognitive View - Titan Watches

Passive View (Irrational & Impulsive) – Fastrack

Emotional View (Mood, Impulsive, Emotional) – Xylus, Raga

Model of Consumer Behavior – General Model

1. Economic Model

Macro Economic Model

Relative Income Hypothesis

Permanent Income Hypothesis

• Initially Sonata, After increase in Income Titan or Xylys

• Initially Sonata, After Change in Income SONATA

Cont..

2. Psychological Model – Fastrack Watches

3. Psychoanalytical Model –

Ex – Youth having personal liking towards product like Fastrack, titan came out with particular segment of watches to fulfill their needs.

Titan Marriage Commercial - minisha lamba.flv

Cont..

4. Sociological Model - Consumer takes decision on his social status and society

Ex – Fastrack, Titan, Xylys & Raga

• There were 2 main objective for Titan to start consumer research:• Competition (new players)

• To change consumers view (from gifts to fashion statement)

• Titan as a result of its research made segment based on various factors.

•The market research was done to understand the change in the consumer requirements.

Reason for Consumer Research for TITAN

•STP was done for the changing consumer behavior.

Research Perspectives•Timex was launched in India in 1993 and Titan launched its new range in the same year in view of competition.

MARKET SEGMENTATION

Range of Product

Wide range of watches for the different segments

Titan Sonata Fastrack Xylys Nebula Raga

Contd

Titan Sonata Fastrack Xylys Nebula Raga

Age P P

Gender P P P P P P

Income P P P P

Generation P P

City P P

Need P P P P P P

Perception P P P P P P

Lifestyle P P P P P P

Persona P P P P P P

Awarenes P P P

Occasions P P P

Loyalty P P

Price(Rs.) 350-23000

Up to 2799

395-4995 9500-23995

42000-275000

3500-32495