wrist watch.doc
TRANSCRIPT
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PREFACE
Preparing a project of this nature is an arduous task and I was
fortunate enough to get support from a large number o persons. I wish to
express my deep sense of gratitude to all those who generously helped in
successful completion of this report by sharing their invaluable time and
knowledge.
It is my proud and previledge to express my deep regards to
Respected HOD Dr. Pramesh Gautam, Head of Department of Business
Management , SWAMI VIVEKANAND INSTITUTE OF TECHNOLOGY,
SAGAR for allowing me to undertake this project.I feel extremely exhilarated to have completed this project under the
able and inspiring guidance of Dr. Pramesh Gautam he rendered me all
possible help me guidance while reviewing the manuscript in finalising the
report.
I also extend my deep regards to my teachers , family members ,
friends and all those whose encouragement has infused courage in me to
complete to work successfully.
ASIF KHAN
MBA IST SEM.
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ACKNOWLEDGEMENT
Preparing a project of this nature is an arduous task and I was
fortunate enough to get support from a large number o persons. I wish to
express my deep sense of gratitude to all those who generously helped in
successful completion of this report by sharing their invaluable time and
knowledge.
It is my proud and previledge to express my deep regards to
Respected , Head of Department Dr.Pramesh Gautam, Department of
Business Management , SWAMI VIVEKANAND INSTITUTE OF
TECHNOLOGY SAGAR for allowing me to undertake this project.
I feel extremely exhilarated to have completed this project under the
able and inspiring guidance of He rendered me all possible help me guidance
while reviewing the manuscript in finalising the report.
I also extend my deep regards to my teachers , family members ,
friends and all those whose encouragement has infused courage in me tocomplete to work successfully.
ASIF KHAN
MBA IST SEM.
-
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DELCLARATION BY THE CANDIDATE
Date :
I declare that the project report titled " MARKETING STRATEGIES
OF TOP FIVE BRANDS OF WRIST WATCH" on Market Segmentation is
nay own work conducted under the supervision DR. PREMESH GAUTAM
Department of Business Management, SWAMI VIVEKANAND
INSTITUTE OF TECHNOLOGY SAGAR To the best of my knowledge the
report does not contain any work , which has been submitted for the award
of any degree , anywhere.
ASIF KHAN
MBA IST SEM.
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CERTIFICATE
The project report titled " MARKETING STRATEGIES OF
TOP FIVE BRAND OF WATCH "been prepared by ASIF KHAN MBA
IST SEM. under the guidance and supervision of DR. PREMESH
GAUTAM for the partial fulfillment of the Degree of MBA.
Signature of the Signature of the Signature of the
Supervisor Head of theDepartment
Examiner
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CONTENTS
PREFACE
ACKNOWLEDGEMENT
CERTIFICATE
DECLARATION
CHAPTER I INTRODUCTIONABOUT PRODUCTAN INSIGHTOF COMPANY HISTORYMISSION AND VISIONSTANDING POSITION OF COMPANYBRAND VALUE
CHAPTER II OBJECTIVE OF THE STUDYCHAPTER III RESEARCH METHODOLOGY
CHAPTER IV MARKET ANALYSISOVERVIEWBRANDS
CHAPTER V CONSUMER GROUPSCONSUMER BEHAVIOUR
CHAPTER VI PRODUCT PROFILEPLAN FOR PRODUCT MIXPRODUCT RANGE
CHAPTER VII MARKETING STRATEGYPRICINGPOSITION AND DISTRIBUTIONPROMOTION
CHAPTER VIII ABOUT COMPETITORSCOMPETITOR FOR PRODUCTPRICE OF COMPETITOR PRODUCT
CHAPTER IX DATA ANALYSISAND INTERPRETATION
CHAPTER X LIMITATION
CHAPTER XI CONCLUSION & SUGGESTIONBIBLIOGRAPHYQUESTIONNAIRE
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INTRODUCTION
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Early wrist watch by Waltham, worn by soldiers in World War I (Deutsches
Uhrenmuseum, Inv. 47-3352)
A watch is a timepiece, typically worn either on the wrist or attached on a
chain and carried in a pocket. Wristwatches are the most common type of
watch used today. Watches evolved in the 17th century from spring powered
clocks, which appeared in the 15th century. The first watches were strictlymechanical. As technology progressed, the mechanisms used to
measure time have, in some cases, been replaced by use ofquartz
vibrations or electronic pulses.[1] The first digital electronic watch was
developed in 1970.[2]
Before wristwatches became popular in the 1920s, most watches
werepocket watches, which often had covers and were carried in a pocket
and attached to a watch chain orwatch fob.[3] In the early 1900s, the
wristwatch, originally called a Wristlet, was reserved for women and
considered more of a passing fad than a serious timepiece. Men, who carried
pocket watches, were quoted as saying they would "sooner wear a skirt as
http://en.wikipedia.org/wiki/Waltham_Watch_Companyhttp://en.wikipedia.org/wiki/Timehttp://en.wikipedia.org/wiki/Quartz_clock#Mechanismhttp://en.wikipedia.org/wiki/Quartz_clock#Mechanismhttp://en.wikipedia.org/wiki/Watch#cite_note-The_History_of_Watches-1http://en.wikipedia.org/wiki/Watch#cite_note-2http://en.wikipedia.org/wiki/Pocket_watchhttp://en.wikipedia.org/wiki/Watch_fobhttp://en.wikipedia.org/wiki/Watch#cite_note-3http://en.wikipedia.org/wiki/File:Wrist_Watch_WWI.jpghttp://en.wikipedia.org/wiki/File:Wrist_Watch_WWI.jpghttp://en.wikipedia.org/wiki/Waltham_Watch_Companyhttp://en.wikipedia.org/wiki/Timehttp://en.wikipedia.org/wiki/Quartz_clock#Mechanismhttp://en.wikipedia.org/wiki/Quartz_clock#Mechanismhttp://en.wikipedia.org/wiki/Watch#cite_note-The_History_of_Watches-1http://en.wikipedia.org/wiki/Watch#cite_note-2http://en.wikipedia.org/wiki/Pocket_watchhttp://en.wikipedia.org/wiki/Watch_fobhttp://en.wikipedia.org/wiki/Watch#cite_note-3 -
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wear a wristwatch".[4] This changed in World War I, when soldiers on the
battlefield found pocket watches to be impractical and attached their watches
to their wrist by a cupped leather strap. It is also believed that Girard-
Perregaux equipped the German Imperial Navy with wristwatches in a
similar fashion as early as the 1880s, to be used while synchronizing naval
attacks and firing artillery.[4]
Most inexpensive and medium-priced watches used mainly for timekeeping
are electronic watches with quartz movements.
[1] Expensive collectible watches, valued more for
theirworkmanship andaesthetic appeal than for simple timekeeping, often
have purely mechanical movements and are powered by springs, even
though mechanical movements are less accurate than more affordable quartz
movements. In addition to the time, modern watches often display the day,
date, month and year, and electronic watches may have many other
functions. Watches that provide additional time-related features such
as timers, chronographs and alarm functions are not uncommon. Some
modern designs even go as far as usingGPS[5] technology or heart-rate
monitoring[6] capabilities.
The study of timekeeping is known as horology.
History
http://en.wikipedia.org/wiki/Watch#cite_note-short_history-4http://en.wikipedia.org/wiki/World_War_Ihttp://en.wikipedia.org/wiki/Girard-Perregauxhttp://en.wikipedia.org/wiki/Girard-Perregauxhttp://en.wikipedia.org/wiki/Watch#cite_note-short_history-4http://en.wikipedia.org/wiki/Watch#cite_note-The_History_of_Watches-1http://en.wikipedia.org/wiki/Collectiblehttp://en.wikipedia.org/wiki/Workmanshiphttp://en.wikipedia.org/wiki/Aesthetichttp://en.wikipedia.org/wiki/Timerhttp://en.wikipedia.org/wiki/Chronographhttp://en.wikipedia.org/wiki/GPShttp://en.wikipedia.org/wiki/Watch#cite_note-5http://en.wikipedia.org/wiki/Watch#cite_note-6http://en.wikipedia.org/wiki/Horologyhttp://en.wikipedia.org/wiki/Watch#cite_note-short_history-4http://en.wikipedia.org/wiki/World_War_Ihttp://en.wikipedia.org/wiki/Girard-Perregauxhttp://en.wikipedia.org/wiki/Girard-Perregauxhttp://en.wikipedia.org/wiki/Watch#cite_note-short_history-4http://en.wikipedia.org/wiki/Watch#cite_note-The_History_of_Watches-1http://en.wikipedia.org/wiki/Collectiblehttp://en.wikipedia.org/wiki/Workmanshiphttp://en.wikipedia.org/wiki/Aesthetichttp://en.wikipedia.org/wiki/Timerhttp://en.wikipedia.org/wiki/Chronographhttp://en.wikipedia.org/wiki/GPShttp://en.wikipedia.org/wiki/Watch#cite_note-5http://en.wikipedia.org/wiki/Watch#cite_note-6http://en.wikipedia.org/wiki/Horology -
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The earliest dated watch known, from 1530
Main article: History of watches
See also: History of timekeeping devices
This section
requires expansion. (Apri
l 2012)
Watches evolved from portable spring-driven clocks, which first appeared in
15th century Europe. Watches weren't widely worn in pockets until the 17th
century. One account says that the word "watch" came from the Old
English word woecce which meant "watchman", because it was used by
town watchmen to keep track of their shifts.[7] Another says that the term
came from 17th century sailors, who used the new mechanisms to time the
length of their shipboard watches (duty shifts).[8]
Movement
Different kinds of movements move the hands differently as shown in this 2
second exposure. The left watch has a 24-hour analog dial with a mechanical
http://en.wikipedia.org/wiki/History_of_watcheshttp://en.wikipedia.org/wiki/History_of_timekeeping_deviceshttp://en.wikipedia.org/w/index.php?title=Watch&action=edithttp://en.wikipedia.org/wiki/Mainspringhttp://en.wikipedia.org/wiki/Old_Englishhttp://en.wikipedia.org/wiki/Old_Englishhttp://en.wikipedia.org/wiki/Watch#cite_note--7http://en.wikipedia.org/wiki/Watch_systemhttp://en.wikipedia.org/wiki/Watch#cite_note-Haven-8http://en.wikipedia.org/wiki/24-hour_analog_dialhttp://en.wikipedia.org/wiki/File:Watch_Mechanical_Quartz_Comparison.jpghttp://en.wikipedia.org/wiki/File:Watch_Mechanical_Quartz_Comparison.jpghttp://en.wikipedia.org/wiki/File:Wiki_letter_w_cropped.svghttp://en.wikipedia.org/wiki/File:German_-_Spherical_Table_Watch_(Melanchthon%27s_Watch)_-_Walters_5817_-_View_C.jpghttp://en.wikipedia.org/wiki/File:German_-_Spherical_Table_Watch_(Melanchthon%27s_Watch)_-_Walters_5817_-_View_C.jpghttp://en.wikipedia.org/wiki/History_of_watcheshttp://en.wikipedia.org/wiki/History_of_timekeeping_deviceshttp://en.wikipedia.org/w/index.php?title=Watch&action=edithttp://en.wikipedia.org/wiki/Mainspringhttp://en.wikipedia.org/wiki/Old_Englishhttp://en.wikipedia.org/wiki/Old_Englishhttp://en.wikipedia.org/wiki/Watch#cite_note--7http://en.wikipedia.org/wiki/Watch_systemhttp://en.wikipedia.org/wiki/Watch#cite_note-Haven-8http://en.wikipedia.org/wiki/24-hour_analog_dial -
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1/6 s movement, the right one has a more common 12-hour dial and a "1 s"
quartz movement
A Russian mechanical watch movement
A movement in watchmaking is the mechanism that measures the passage oftime and displays the current time (and possibly other information including
date, month and day). Movements may be entirely mechanical, entirely
electronic (potentially with no moving parts), or a blend of the two. Most
watches intended mainly for timekeeping today have electronic movements,
with mechanical hands on the watch face indicating the time.
Mechanical movements
Main article: Mechanical watch
Compared to electronic movements, mechanical watches are less accurate,
often with errors of seconds per day, and they are sensitive to position,
temperature[9] and magnetism.[10]They are also costly to produce, require
regular maintenance and adjustment, and are more prone to failure.
Nevertheless, the craftsmanship of mechanical watches still attracts interest
from part of the watch-buying public. Skeleton watches are designed to
leave the mechanism visible for aesthetic purposes.
Mechanical movements use an escapement mechanism to control and limit
the unwinding and winding parts of a spring, converting what would
otherwise be a simple unwinding into a controlled and periodic energy
http://en.wikipedia.org/wiki/Movement_(clockwork)http://en.wikipedia.org/wiki/Watch_facehttp://en.wikipedia.org/wiki/Mechanical_watchhttp://en.wikipedia.org/wiki/Watch#cite_note-9http://en.wikipedia.org/wiki/Watch#cite_note-10http://en.wikipedia.org/wiki/Skeleton_watchhttp://en.wikipedia.org/wiki/Escapementhttp://en.wikipedia.org/wiki/File:000_0rysdf251_edited.jpghttp://en.wikipedia.org/wiki/File:000_0rysdf251_edited.jpghttp://en.wikipedia.org/wiki/Movement_(clockwork)http://en.wikipedia.org/wiki/Watch_facehttp://en.wikipedia.org/wiki/Mechanical_watchhttp://en.wikipedia.org/wiki/Watch#cite_note-9http://en.wikipedia.org/wiki/Watch#cite_note-10http://en.wikipedia.org/wiki/Skeleton_watchhttp://en.wikipedia.org/wiki/Escapement -
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release. Mechanical movements also use abalance wheeltogether with
thebalance spring (also known as a hairspring) to control motion of the gear
system of the watch in a manner analogous to thependulum of apendulum
clock. Thetourbillon, an optional part for mechanical movements, is a
rotating frame for the escapement, which is used to cancel out or reduce the
effects ofgravitational bias to the timekeeping. Due to the complexity of
designing a tourbillon, they are very expensive, and only found in "prestige"
watches.
Thepin-lever escapement (called the Roskopf movement after its
inventor, Georges Frederic Roskopf), which is a cheaper version of the fully
levered movement, was manufactured in huge quantities by many Swiss
manufacturers as well as Timex, until it was replaced by quartz movements.
[11][12][13]
Tuning-fork watches use a type of electromechanical movement. Introduced
by Bulova in 1960, they use a tuning fork with a precise frequency (most
often 360 hertz) to drive a mechanical watch. The task of converting
electronically pulsed fork vibration into rotary movement is done via two
tiny jeweled fingers, called pawls. Tuning-fork watches were rendered
obsolete when electronic quartz watches were developed. Quartz
watches were cheaper to produce and even more accurate.
Main article: Mainspring
Traditional mechanical watch movements use a spiral spring called
a mainspring as a power source. In manual watches the spring must be
rewound periodically by the user by turning the watch crown.
Antiquepocketwatches were wound by inserting a separate key into a hole
in the back of the watch and turning it. Most modern watches are designed
to run 40 hours on a winding and thus must be wound daily, but some run
http://en.wikipedia.org/wiki/Balance_wheelhttp://en.wikipedia.org/wiki/Balance_springhttp://en.wikipedia.org/wiki/Pendulumhttp://en.wikipedia.org/wiki/Pendulum_clockhttp://en.wikipedia.org/wiki/Pendulum_clockhttp://en.wikipedia.org/wiki/Tourbillonhttp://en.wikipedia.org/wiki/Gravityhttp://en.wikipedia.org/wiki/Pin-lever_escapementhttp://en.wikipedia.org/wiki/Georges_Frederic_Roskopfhttp://en.wikipedia.org/wiki/Timex_Group_USAhttp://en.wikipedia.org/wiki/Watch#cite_note-11http://en.wikipedia.org/wiki/Watch#cite_note-12http://en.wikipedia.org/wiki/Watch#cite_note-13http://en.wikipedia.org/wiki/Bulovahttp://en.wikipedia.org/wiki/Hertzhttp://en.wikipedia.org/wiki/Electric_watch#Types_of_electric_watcheshttp://en.wikipedia.org/wiki/Quartz_watchhttp://en.wikipedia.org/wiki/Quartz_watchhttp://en.wikipedia.org/wiki/Mainspringhttp://en.wikipedia.org/wiki/Mainspringhttp://en.wikipedia.org/wiki/Pocketwatchhttp://en.wikipedia.org/wiki/Balance_wheelhttp://en.wikipedia.org/wiki/Balance_springhttp://en.wikipedia.org/wiki/Pendulumhttp://en.wikipedia.org/wiki/Pendulum_clockhttp://en.wikipedia.org/wiki/Pendulum_clockhttp://en.wikipedia.org/wiki/Tourbillonhttp://en.wikipedia.org/wiki/Gravityhttp://en.wikipedia.org/wiki/Pin-lever_escapementhttp://en.wikipedia.org/wiki/Georges_Frederic_Roskopfhttp://en.wikipedia.org/wiki/Timex_Group_USAhttp://en.wikipedia.org/wiki/Watch#cite_note-11http://en.wikipedia.org/wiki/Watch#cite_note-12http://en.wikipedia.org/wiki/Watch#cite_note-13http://en.wikipedia.org/wiki/Bulovahttp://en.wikipedia.org/wiki/Hertzhttp://en.wikipedia.org/wiki/Electric_watch#Types_of_electric_watcheshttp://en.wikipedia.org/wiki/Quartz_watchhttp://en.wikipedia.org/wiki/Quartz_watchhttp://en.wikipedia.org/wiki/Mainspringhttp://en.wikipedia.org/wiki/Mainspringhttp://en.wikipedia.org/wiki/Pocketwatch -
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for several days and a few have 192-hour mainsprings and are wound
weekly.
[edit]Automatic watches
Main article: Automatic watch
Automatic watch: An eccentric weight, called a rotor, swings with the
movement of the wearer's body and winds the spring
A self-winding or automatic watch is one that rewinds the mainspring of a
mechanical movement by the natural motions of the wearer's body. The first
self-winding mechanism was invented for pocket watches in 1770 by
Abraham-Louis Perrelet,[14] but the first "self-winding", or "automatic",
wristwatch was the invention of a British watch repairer named John
Harwood in 1923. This type of watch allows for constant winding without
special action from the wearer; it works by an eccentric weight, called a
winding rotor, which rotates with the movement of the wearer's wrist. The
back-and-forth motion of the winding rotor couples to aratchet to
automatically wind the mainspring. Self-winding watches usually can also
be wound manually so they can be kept running when not worn or if the
wearer's wrist motions are inadequate to keep the watch wound.
[edit]Electronic movements
See also: Electric watch
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Electronic movements have few or no moving parts, as they use
thepiezoelectric effect in a tiny quartz crystal to provide a stable time base
for a mostly electronic movement. The crystal forms a quartz
oscillatorwhich resonates at a specific and highly stable frequency, and
which can be used to accurately pace a timekeeping mechanism. For this
reason, electronic watches are often called quartz watches. Most quartz
movements are primarily electronic but are geared to drive mechanical
hands on the face of the watch in order to provide a traditional analog
display of the time, which is still preferred by most consumers.
Prototype of a Quartz Wristwatch, CEH Switzerland, 1967
In 1959 Seiko gave an order to Epson (a daughter company of Seiko and the
actual brain behind the quartz revolution) to start developing a quartz
wristwatch. The project was codenamed 59A and by the 1964 Tokyo
Summer Olympics, Seiko had a working prototype of a portable quartz
watch which took part in time measurements throughout the event.
The first prototypes of an electronic quartz wristwatch (not
just portable quartz watches as the Seiko timekeeping devices at the TokyoOlympics in 1964) were made by the CEH research laboratory in Neuchtel,
Switzerland. From 1965 through 1967 pioneering development work was
done on a miniaturized 8192 Hz quartz oscillator, a thermo-compensation
module and an inhouse-made, dedicated integrated circuit (unlike the hybrid
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circuits used in the later Seiko Astron wristwatch). As a result, the BETA 1
prototype set new timekeeping performance records at the International
Chronometric Competition held at the Observatory of Neuchtel in 1967.
[15]
Quartz Movement of the Seiko Astron, 1969 (Deutsches Uhrenmuseum, Inv.
2010-006)
The first quartz watch to enter production was the Seiko35 SQ Astron,
which hit the shelves on December 25, 1969. One particularly interesting
decision made by Seiko at that time was to not patent the whole movement
of the quartz wristwatch, thus allowing other manufacturers to benefit from
the Seiko technology. This played a major role in the popularity and quick
development of the quartz watch, which in less than a decade was dominant
in the watch market, nearly ending an almost 100 years of mechanical
wristwatch heritage. The modern quartz movements are produced in very
large quantities, and even the cheapest wristwatches typically have quartzmovements. Whereas mechanical movements can typically be off by several
seconds a day, an inexpensive quartz movement in a child's wristwatch may
still be accurate to within half a second per dayten times better than a
mechanical movement.[16]
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After a consolidation of the mechanical watch industry in Switzerland
during the 1970s, mass production of quartz wristwatches took off under the
leadership of the Swatch Group of companies, a Swiss conglomerate with
vertical control of the production of Swiss watches and related products. For
quartz wristwatches, subsidiaries of Swatch manufactured watch
batteries (Renata), oscillators (Oscilloquartz) and integrated circuits
(Ebauches Electronic SA). The launch of the new SWATCH brand in 1983,
was marked by bold new styling, design and marketing. Today, the Swatch
Group is the world's largest watch company.
Seiko's efforts to combine the quartz and mechanical movements bore fruit
after 20 years of research, leading to the introduction of theSeikoSpring
Drive, first in a limited domestic market production in 1999 and to the world
in September 2005. The Spring Drive manages to keep time within quartz
standards without the use of a battery, using a traditional mechanical gear
train powered by a spring, while at the same time doesn't have the need of a
balance wheel either.
Radio time signal watches are a type of electronic quartz watch which
synchronizes (time transfer) its time with an external time sourcesuch as
in atomic clocks, time signals from GPS navigation satellites, the
German DCF77 signal in Europe, WWVB in the US, and others.
Movements of this type may -among others- synchronize not only the time
of day but also the date, the leap-yearstatus of the current year, and the
current state ofdaylight saving time (on or off). However, other than the
radio receiver these watches are normal quartz watches in all other aspects.
Electronic watches require electricity as a power source. Some mechanical
movements and hybrid electronic-mechanical movements also require
electricity. Usually the electricity is provided by a replaceablebattery. The
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first use of electrical power in watches was as a substitute for the
mainspring, in order to remove the need for winding. The first electrically
powered watch, the Hamilton Electric 500, was released in 1957 by
the Hamilton Watch Company ofLancaster, Pennsylvania.
Watch batteries (strictly speaking cells, as a battery is composed of multiple
cells) are specially designed for their purpose. They are very small and
provide tiny amounts of power continuously for very long periods (several
years or more). In most cases, replacing the battery requires a trip to a
watch-repair shop or watch dealer; this is especially true for watches that are
designed to be water-resistant, as special tools and procedures are required
to ensure that the watch remains water-resistant after battery replacement.
Silver-oxide and lithium batteries are popular today; mercury batteries,
formerly quite common, are no longer used, for environmental reasons.
Cheap batteries may be alkaline, of the same size as silver-oxide cells but
providing shorter life. Rechargeable batteries are used in some solar
powered watches.
Some electronic watches are also powered by the movement of the wearer of
the watch. For instance, Seiko's Kinetic powered quartz watches make use of
the motion of the wearer's arm turning a rotating weight which causes a
tiny generatorto supply power to charge a rechargeable battery that runs the
watch. The concept is similar to that of self-winding spring movements,
except that electrical power is generated instead of mechanical spring
tension.
Solar powered watches are powered by light. Aphotovoltaic cell on the face
(dial) of the watch converts light to electricity, which in turn is used to
charge a rechargeable battery orcapacitor. The movement of the watch
draws its power from the rechargeable battery or capacitor. As long as the
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watch is regularly exposed to fairly strong light (such as sunlight), it never
needs battery replacement, and some models need only a few minutes of
sunlight to provide weeks of energy (as in the Citizen Eco-Drive). Some of
the early solar watches of the 1970s had innovative and unique designs to
accommodate the array of solar cells needed to power them (Synchronar,
Nepro, Sicura and some models by Cristalonic, Alba, Seiko and Citizen). As
the decades progressed and the efficiency of the solar cells increased while
the power requirements of the movement and display decreased, solar
watches began to be designed to look like other conventional watches.[17]
A rarely used power source is the temperature difference between the
wearer's arm and the surrounding environment (as applied in theCitizenEco-
Drive Thermo).
OBJECTIVE OF THE STUDY
Objectives
1.To study the current scenario of Indian wrist watch industry.
2.
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To review the brand positioning strategies of different sub-brands of
Titanwatches.3.To analyze the brand repositioning strategies of
Titan watches.
4.
To study consumer awareness and perception about the brand repositioning
RESEARCH METHODOLOGY
According to Green and Tall A research design is the specification of the
methods and procedures for acquiring the information needed. It is the
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overall operational pattern or framework of the project that stipulates which
information is to be collected, from where it is to be collected and by what
procedures
This research process based on primary data analysis and secondary data
analysis will be clearly defined to meet the objectives of the study.
I chose the primary sources to get the data. A questionnaire was designed in
accordance with our mentor in WATCH. I chose a sample of about 30
corporate customers
I collected some data from the secondary sources like published Company
documents, internet etc.
Research Design
A research design is the arrangement of conditions for collections and
analysis of data in a manner that aims to combine relevance to the research
purpose with economy in procedures. It is a descriptive cross sectional
design .It is the conceptual structure with in which research is conducted; it
constitutes the blueprint for the collection, measurement and analysis of
data.
It is needed because it facilitates the smooth sailing of the various research
operations, thereby making research as efficient as possible yielding
maximal information with minimal expenditure of effort, time and money.
In the preliminary stage, my research stage constituted of exploratory study
by which it is clear that the existence of the problem is obvious .So, I can
directly head for the conclusive research.
Sampling Plan
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Sampling plan is a distinct phase of research process. In this stage I have
to determine who is to be sampled, how large should be the needed sample
and how sampling unit is to be selected.
Population
In my research, I have defined my population as a complete set of customers
of Sagar City.
Sample Survey
As compared to census study, a sample study has been conducted by us
because of:
Wide range of population, it was impossible to cover the whole population
Time and money constraints.
Sample Unit
In this survey I took the list of customers from the dealers of WATCH
Sampling Technique
Sampling technique implies the method of choosing the sample items, the
two methods of selecting sample are:
Probability method.
Non-probability method.
Probability method is those in which every item of the universe has an
equal chance of the inclusion in the sample. Non-probability methods are
those that do not provide every item in the universe with known cause of
being included in the sample. The selection process is partially subjective.
For my study, I employed the Non-probability sampling technique, in which
I got the data of the customers from the dealer of WATCH.
Instrument of collection of data
I have used one set of questionnaire to collect data from the customers. This
questionnaire is structured and highly ordered. This includes both close
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ended and open ended questions. The close ended questions included both
dichotomous and multiple choice questions.
PRODUCT PROFILE
Titan Industries
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Titan Industries Limited 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).[4] Its product portfolio includes watches, accessories
and jewelry, in both contemporary and traditional designs. It exports
watches to about 32 countries around the world with manufacturing facilities
in Hosur, Dehradun,Goa and manufactures precious jewellery under
the Tanishq brand name, making it India's only national jewelry brand.
Watch division
A Sonata wrist watch
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A wrist watch from TITAN
A wrist watch from TITAN (Octane Series)
Titan Watch division was started in 1987. At launch it was the third watch
company in India afterHMT and Allwyn. Titan formed ajoint
venturewith Timex, which lasted until 1998, and set up a distribution
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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. In
October 2012, Titan partnered up with Zee Watch Group, becoming the sole
distributors of Titan watches in the Americas. 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 branded as Titan Edge.[5] Produced indigenously after four
years of research and development, the Titan Edge has a total thickness of
3.5 mm and a movement of 1.15 mm. Apart from the Titan Edge, Titan also
offers Steel, Regalia, Raga, Fastrack, Technology, Nebula, Bandhan, Sonata,
Octane, specialR. 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 first Titan flagship store, located
at Opposite Shoppers Stop, Bandra Linking Road, Mumbai, India. The store
is spread over 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.[6]
On November 16, 2011, Titan Industries acquired Swiss watch makerFavre-
Leuba for Euro 2 million.[7]
Company History
For almost eight decades, Citizen has been ahead of its time. Our brand has
always stood for innovations and high precision that make life better for
everyday people and now we are raising our sights to meet the needs of the
new Millennium.
Our History
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Our beginnings go back to 1924, when Citizen's forerunner, the Shokosha
Watch Research Watch Institute produced its first pocket watch the
"CITIZEN". The then Mayor of Tokyo, Mr Shimpei Goto, named the watch
"CITIZEN" with the hope that the watch, a luxury item of those times,
would become widely available to ordinary citizens and be sold throughout
the world.
Time and again Citizen has pioneered groundbreaking technologies and
helped to make watches an indispensable part of modern life. Introduced in
1956, Parashock was the first shock resistant watch made by a Japanese
manufacturer. And three years later, Parawater was hailed as the country's
first water resistant watch.
One of the latest milestones is our Eco-Drive system. Bringing new thinking
to the art of watchmaking, this is a light powered solution that eliminates the
need to change batteries - a revolution that made it the first watch
technology to receive the Japan Environment Association's Eco Mark for
environmentally friendly products.
And in 2003, Citizen continues to evolve and be ahead of its time with the
launch of Stiletto. This is the World's thinnest light powered watch - a watch
so revolutionary it combines eco-drive technology with a refined, sleek and
sophisticated case and bracelet from 4.4mm thick.
Citizen is, however more diverse then simply watches. In fact watches only
represent less than 40% of the company's business. Today we are drawing
on a heritage of proven quality and technologies as we develop the market
for watches, clocks, jewellery, eyeglass frames and health care products.
The Citizen Watch Company, Ltd. was established in 1930. Citizen Watches
NZ was established in 1975 with its Head Office in Auckland.
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Citizen believes that delivering excellence is the key to building successful
partnerships with retailers and consumers alike. Excellence in product,
marketing and service is paramount, and the resources required to achieve
excellence are viewed as investments, not costs.
Citizen looks forward to the challenges that the future will no doubt bring.
Our guarantee is a commitment to continually strive and work towards an
even more successful future for our retailers and consumers. Ready for
further growth and progress, we are working harder than ever to explore new
directions and contribute to changing lifestyles.
Timex
Timex is a brand of watches owned by Timex Group B.V..
Timex may also refer to:
Timex Group USA, a subsidiary of Timex Group B.V. and a large
manufacturer of watches
Timex Sinclair, a series of microcomputersTimex, a brand for audio electronics licensed to SDI Technologies
Timex (Unix), a Unix tool used to measure the duration of shell processes
Timex Social Club, a band from the 1980s with one major hit, Rumors
OMEGA
OMEGA is the last letter of the Greek alphabet and symbolises
accomplishment and perfection - qualities that have been inherent in everyOMEGA watch since the company's founding by Louis Brandt in La Chaux-
de-Fonds, Switzerland, in 1848.
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The brand's reputation for innovation and quality has led to numerous
awards over the company's 150-year history, starting as early as 1900 with
the Grand Prix at the Paris World Fair and continuing with the world
precision record of 97.8 points at the Kew-Teddington observatory in
England in 1936.
OMEGA went on to be official timekeeper at no less than 21 Olympic
Games, bringing numerous innovations to Olympic sports over the years,
such as the first electronic timekeeping at the Helsinki games in 1952 - the
same year in which the company was awarded the Olympic Cross of Merit
for its outstanding contribution to sport.
On account of its precision and reliability, OMEGA's Speedmaster watch
was chosen by NASA as its official chronometer in 1965 and 4 years later
was the first watch to be worn on the moon, when, on 21 July 1969, Neil
Armstrong made his giant leap for mankind.
In more recent years, OMEGA has continued to build on its reputation for
precision and innovation, presenting the world's first self-winding
wristwatch with central tourbillon (launched in 1994) and the revolutionary
coaxial escapement sur developed in conjunction with renowned English
master watchmaker George Daniels first offered in limited series in 1999.
OMEGA owes a large part of its watchmaking excellence to the quality of
its movements. These magnificent watches are highly collectible, and hold a
very special place in many collectors showcases.
There seems to be an aura about Omega watches that captivate this collector
especially.
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Check out the followins link. There are pictures and history of vintage
Omega watches:
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Rolex
Rolex SA and its subsidiary Montres Tudor SA design, manufacture,
distribute and service high-quality wristwatches sold under the Rolex and
Tudor brands. Founded by Hans Wildorf and Alfred Davis in London,
England in 1905 as Wilsdorf and Davis, Rolex moved its base of operations
to Geneva, Switzerland in 1919.
Bloomberg Businessweekmagazine ranked Rolex No.71 on its 2007 list of
the 100 most valuable global brands.[2] Rolex is the largest single luxury
watch brand, producing about 2,000 watches per day, with estimated 2003
revenues of approximately US$3 billion.
History
Hans Wilsdorfand his brother-in-law, Alfred Davis, founded Wilsdorf and
Davis, the company that would eventually become Rolex SA, in London,
England in 1905.[3] Wilsdorf and Davis' main business at the time was
importing Hermann Aegler's Swiss movements to England and placing them
in quality watch cases made by Dennison and others. These early
wristwatches were sold tojewellers, who then put their own names on the
dial. The earliest watches from Wilsdorf and Davis were usually hallmarked"W&D" inside the caseback.
In 1908, Wilsdorf registered the trademark "Rolex" and opened an office
in La Chaux-de-Fonds, Switzerland.[3] The company name "Rolex" was
registered on 15 November 1915. The book The Best of Time: Rolex
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Wristwatches: An Unauthorized History by Jeffrey P. Hess and James
Dowling says that the name was just made up.[4] One story, never
confirmed by Wilsdorf, is that the name came from the French
phrase horlogerie exquise, meaning "exquisite clockwork"[5] or as a
contraction of "horological excellence". Wilsdorf was said to want his watch
brand's name to be easily pronounceable in any language.[6] He also thought
that the name "Rolex" wasonomatopoeic, sounding like a watch being
wound. It is easily pronounceable in many languages and, as all letters have
the same size, allows to be written symmetrically. It was also short enough
to fit on the face of a watch.[6]
In 1914, Kew Observatory awarded a Rolex watch a Class A precision
certificate, a distinction which was normally awarded exclusively to
marine chronometers.[6]
In 1919, Wilsdorf left England due to wartime taxes levied on luxury
imports as well as export duties on the silver and gold used for the watch
cases driving costs too high[5] and moved the company to Geneva,
Switzerland, where it was established as the Rolex Watch Company. Its
name was later changed to Montres Rolex, SA and finally Rolex, SA.
[3] Upon the death of his wife in 1944, Wilsdorf established the Hans
Wilsdorf Foundation in which he left all of his Rolex shares, making sure
that some of the company's income would go to charity. The company is still
owned by a private trust and shares are not traded on any stock exchange.[5]
In December 2008, the abrupt departure of Chief Executive Patrick
Heiniger, for personal reasons, was followed by a denial by the company
that it had lost 1 billion Swiss francs (approx 574 million, $900 million)
invested with Bernard Madoff, the American asset manager who pleaded
guilty to an approximately 30 billion worldwide Ponzi scheme fraud.[7]
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Today, Rolex watches are popularly considered status symbols.[8][9][10]
[11]
HMT Limited
HMT Limited, formerly Hindustan Machine Tools Limited, is a state-owned
manufacturing company under the Ministry of Heavy Industries and Public
Enterprises inIndia.[1]
History
Hindustan Machine Tools was incorporated in 1953 by the Government of
India as a machine tool manufacturing company. Over the years diversified
into watches, tractors,printing machinery, metal forming presses, die
casting &plastic processing machinery, CNC systems & bearings. HMT is
headquartered at Bengaluru ( Bangalore ). Successful technology absorption
in all product groups through collaborations with world renowned
manufacturers and further strengthened by continuous in-house R&D.
Today, HMT comprises six subsidiaries under the ambit of a holding
company, which also manages the tractors business directly.
HMT Limited took overPraga Tools Limited as one of its subsidiaries 1988.
[2] Praga Tools Limited was established in May, 1943 as Praga Tools
Corporation Limited to manufacture machine tools with its head quarters
at Secunderabad. It was renamed as Praga Tools Limited in 1963. It ismainly involved in manufacture of machine tools including CNC machines.
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MARKETING STRATEGY
As we all know that marketing mix is basically consist of 4 ps i. e price,
product, place and promotion.
Price:
Advantage: competitor of mid-price segment will capture the whole market.
Disadvantage: competitor of premium price segment will enjoy the more
market.
Product:
Advantage: Increased in the quality will increase the cost which will give
benefit to the competitor.
Disadvantage: Quality decrease will help competitor to capture the whole
market.
Place:
Advantage: more number of places of operation will make the competitor
week.
Disadvantage: less number of places of operation will leads to wipe out
from the market.
Promotion:
Advantage: Increase in sales promotion will affect more market share.
Disadvantage: decrease in sales promotion give benefit to the competitor.
Industrys Role
As there have many competitor exists in this Industry, the competition is too
much. Whenever any company bring changes in its marketing mix, all the
companies also implement changes in their marketing mix to sustain in the
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competition. By that the structure of whole industry is changing and affects
the competitive forces in the Industry
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DATA ANALYSIS AND INTERPRETATION
7.1 Data Interpretation
Titan sub-brand ownedThis was a multiple choice question where respondents were asked to
choose sub-brands of Titan which they possess. It was found that around 72% ofthe consumers in the age group of 20-30 years possess Fastrack brand, 14%Sonata, 6% Raga, 4% Nebula and only 2% own WWF and Edge.
Figure 4: Titan sub-brands possessed by respondents
Period of useThe respondents were asked to mention since how long they have been
brand loyal to Titan. This was an open ended question and hence variousresponses were received. The minimum period of use was set as one year, as
mentioned earlier, while the maximum period of use was determined. Forconvenience, the different responses are categorized into three: 1year 4years,4years 7years and 7years 10years.
64% of the respondents fall into first category, i.e., they are using Titan
watch in the range of one to four years. 24% respondents are in second category
and the rest 12 % are using it for more than seven years.
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Figure 5: Period of watchs use
Reasons for brand loyalty
The respondents were asked to select the reasons from the options given
for their preference for Titan watches. For this question, multi-responses were
received from the respondents.
Table 1: Reasons for brand preference
Reasons No. of respondents (out of total
50)
Attractive designs 39
Reasonable Price 7
Brand image 22
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Good quality 25
Figure 6: Reasons for brand preference
Recall of Titans tagline
Titans tagline, before brand repositioning exercise has been undertaken,
was
Whats your style. This tagline was adopted during first rebranding exercise in
2004.
The respondents were asked to indicate whether they remember thetagline in dichotomous way, i.e., as yes or no. It was found that only 22% of
the respondents were able to recall the tagline and the remaining 78% answered
in negative.
Figure 7: Recall of Titans original tagline
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Titans advertisements
Titan advertises its watches in almost all media vehicles. The
advertisements can be seen in TV, magazines, newspaper, hoardings,
billboards, radio and so on.
Types of media No. of respondents
TV 46
Magazines 25
Newspapers 36
Hoardings 15
Radio 4
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All the 50 respondents have seen the advertisements of Titan watches in
various media. This was a multi-response question and the options given to
select were restricted to TV, magazines, newspapers, hoardings and radio.
The findings of the survey have been summarized in a table as follows:
Table 2: Major Advertisement media
Figure 8: Major advertisement media
Brand Ambassador of Titan
Aamir Khan is the brand ambassador of Titan since 2004. When the
respondents were asked to recollect the same, it was found that 46 of 50 sample
size were able to correctly mention the brand ambassador while the remaining 4
did not give any response implying that they are not aware of it.
Figure 9: Awareness of brand ambassador
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Awareness of new tagline Be More
The survey has revealed that less than half of the total numbers of
respondents (36%) are aware of new tagline.
Figure 10: Awareness of new tagline
New designs of TitanTitan has launched several new designs in 2008 in its existing collections
and as per its plans introduced new product collections also. The respondents
were asked to rate the new designs as poor, average, above average,
good and excellent.
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7 respondents feel that their designs are excellent, 39 have rated them
as good and 4 have rated as average.
Figure 11: Consumer perception of new designs
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New Campaign of Titan
The survey has revealed that the percentage of respondents who have
seen the new campaign focussing on be more featuring Aamir Khan is 50%.
Figure 12: Awareness of new campaign
Rating of New Campaign
The 50% of the respondents who have seen the new campaign were
asked to rate it with respect to how effective the campaign is in inspiring
consumers to have a new look everyday and be more in lives.
16 out of 25 respondents consider the new campaign to be highly
effective while the remaining 9 rated it as effective
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Figure 13: Consumer perception of new campaign
Titans exclusive showrooms
The respondents were asked to rate Titans exclusive showrooms on 5
point rating scale Poor, Average, Above Average, Good and Excellent. The
factors related to showrooms that were provided to the respondents for rating are
store ambience, sales personnel, after sales service and display of watches.
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Figure 14: Consumer perception of store ambience
36 of the 50 respondents have rated store ambience as Good and 7
each rated as Above Average and Excellent. This proves that store ambience
plays an important role in consumer perception of service quality.
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Figure 15: Consumer perception of sales personnel
With respect to sales personnel, 35 respondents rated them as Good,
while 4 each rated as Poor and Average, 7 respondents gave rating of Above
Average.
Figure 16: Consumer Perception about after sales service
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In the survey, 31 out of 50 respondents rated after sales service as
Good, 4 each as Average, Above Average and Excellent while 7
respondents rated as Poor.
Figure 17: Consumer perception of Display of watches
Most of the respondents have given high ratings to the display of watches
in Titan showroom. 22 respondents rated it as Excellent, 24 respondents as
Good and only 4 respondents gave rating of Average.
Figure 18: Overall perception about Titan showrooms
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The respondents were also asked to give overall rating to Titans exclusive
showrooms. It was found that out of total 50 respondents, 30 rated as good
while the remaining considered the showrooms to be excellent.
Around 50% of the respondents rated all the variables related to Titans
exclusive showrooms as good.
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Limitations
The study is confined to Sagar area only
There is possibility of sampling errors in the study
The responses of the consumers may not be genuine
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CONCLUSION AND SUGGESTION
Financial statement analysis focuses on one or more elements of a
companys financial condition or operating results. Researcher emphasizes
five areas of inquiry, with varying degrees of importance.
Short-Term Liquidity. Ability to meet short-term obligations.
Cash Flow Analysis. Future availability and disposition of cash.
Return on Invested Capital. Ability to provide financial rewards sufficient to
attract and retain financing.
Asset utilization. Asset intensity in generating revenues to reach a sufficient
profitability level.
Operating performance and Profitability. Success at minimizing revenues
and minimizing expenses from operating activities over the long run.
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BIBLIOGRAPHY
Trevor D'Souza, July 14th Monday, 2003. Pakistan textile industry: a brief
review. The NEWS.
Sofie Vander Meulen. 2003. Determinants of financial statements.
Leslie Rogers, 1997, Go with the flow: Using Ratios to analyze cash flow
data. The National Public Accountant.
Barne, 1986. The statistical validity of the ratio method in financial
analysis: an empirical examination: a comment", Journal of Business
Finance and Accounting. Pg.13-14, 627-635.
Salmi, Vitanen, and Olli, 1990, On the classification of financial ratios. A
factor and transformation analysis of accrual, cash flow, and market-based
ratios. Acta Wasaensia, no 25.
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Questionnaire
Name _____________________________________________________
Add/ Mob. _____________________________________________________
Q.1 Do you have knowledge about these product ?(a) Yes (b) No.
Q.2 Are you satisfied with these product(a) Yes (b) No.
Q.3 From where do you have got knowledge about this product(a) Print Media (b) Electronic Media (c) Media
Q.4 Which product you like most(a) TITAN (b) ROLEX (c) OMEGA (d) CITIZEN (E) HMT
Q.5 Do you like the quality of this product
Q.6 What is the reason becuase of which you prefer this product(a) Quality (b) Price (c) Product
Q. 7 Any Suggestions:
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