J.S.

UNIVERSITY
Shikohabad (U.P.)

Session : 2018-2019
Department of MBA

Project Report on
“Consumer Satisfaction on Fastrack
Watches”

Under the Guidance of MBA Department

Project In charge
MBA Deptt. (project In charge)

Prepared By
Amit Kumar Varshney
MBA Final Year
 ACKNOWLEDGEMENT

It’s a great pleasure to present this project report on Consumer Satisfaction on

Fastrack Watches in partial fulfillment of MBA. programmed affiliated to J.S.
University Shikohabad. At the outset, I would like to express my immense
gratitude to my project guide MBA Department.
I am falling short of words for expressing my feelings of gratitude towards him for

extending their valuable guidance about market and support for literature, critical

reviews of my project report and above all the moral support he had provided me at

all stages of this project.

I would also like to thank my friends and my entire group member for their help and

cooperation throughout the project.

Amit Kumar Varshney

Final Year MBA
 DECLARATION

I hereby declare that this submission is my own work and that, to the best of my

knowledge and belief, it contains no material previously published or written by

another person which to a substantial extent has the award of any other degree or

diploma of the university or other institute of higher learning except where due

acknowledgement has been made in the text.

Amit Kumar Varshney

Final Year MBA
 CERTIFICATE

It is certified that Amit Kumar Varshney a student of MBA. Final Year has
successfully completed the project work on the Consumer Satisfaction on
Fastrack Watches under my guidance. He has shown sincere effort and keen
interest towards his work.

I have carefully gone through the contents of the project work and I am fully
satisfied with the work carried out by the candidate.

MBA DEPTT
TABLE OF CONTENTS

1.0 Introduction to the Topic.………………………………………………….. 1-2

2.0 Introduction to the Organization/Industry………………………………… 3-22

3.0 Objectives of the Study……………………………………………………. 23-24

4.0 Scope of the Study………………………………………………………… 25-26

5.0 Use & Importance of the Study….……………………………………...... 27-28

6.0 Research Methodology……….………………….………………………..29-33

6.1 Universe of the study…………….……………….…………………… 00
6.2 Sample Size……………………………….……………..……............. 00
6.3 Sampling Unit………………………………………………………….. 00
6.4 Sampling Method……………………….…………………….……….. 00
6.5 Tools for Data Collection……………………….…………………….. 00
6.6 Type of Data Collected ……………….….…………………..………. 00

7.0 Data Analysis & Interpretation……………………………………………. 34-62

8.0 Findings…………………………………………………………………….. 63-65

9.0 Conclusion……..…………………………………………………………… 66-67

10.0 Recommendations & Suggestions……….…….…………………… 68-70

Bibliography…………………………………………………………………...... 71-73

Annexure [Questionnaire]……………………………………………………... 74-78

LIST OF TABLES

S. TABLE PAGE REFRENCE DETAILS

No. No. No.
01 1.1 35
OCCUPATION OF THE RESPONDENTS
02 1.2 36
EDUCATIONAL QUALIFICATION OF THE RESPONDENTS

03 1.3 37
AGE OF THE RESPONDENTS

04 1.5 38
GENDER OF THE RESPONDENT

05 1.6 39
AWARENESS ABOUT THE PRODUCT THROUGH ADS
06 1.7 41
COMPARISON OF FASTRACK WATCHES WITH OTHER
TITAN BRANDS
07 1.9 42
COMPARISON OF FASTRACK WATCHES WITH ITS
COMPETITORS
LIST OF CHARTS

S. TABLE PAGE REFRENCE DETAILS

No. No. No.
01 1.1 36
OCCUPATION OF THE RESPONDENTS
02 1.2
EDUCATIONAL QUALIFICATION OF THE RESPONDENTS
03 1.3 37 AGE OF THE RESPONDENT
04 1.4 38
AGE OF THE RESPONDENTS
05 1.5 39
GENDER OF THE RESPONDENT
06 1.8 42
COMPARISON OF FASTRACK WATCHES WITH OTHER
TITAN BRANDS
07 1.9 43
COMPARISON OF FASTRACK WATCHES WITH ITS
COMPETITORS
Introduction

1.0 INTRODUCTION TO THE TOPIC

Clocks and Watches are devices used to measure or indicate the passage of time. A clock, which is

larger than a watch, is usually intended to be kept in one place; a watch is designed to be carried or

worn. Both types of timepieces require a source of power and a means of transmitting and

controlling it, as well as indicators to register the lapse of time units.

Wrist watches were once a need, but now it has become a demand. Different brands with different

technology, design and innovations have entered into the market.

INTRODUCTION TO THE STUDY

Fastrack is one of the leading wrist watch brand in India, Fastrack was launched in 1998. The

brand was aimed at the youth segment (15-25 years of age). The brand was promoted with the

slogan "Cool Watches from Titan” Fastrack has an established brand image for quality, price and

ranges of style it offers. However it is often found that customers have still certain issues with this

brand, one of the issue is that the service after sales is not good. Customer often find it difficult to

repair the watch or change the strap, dial etc. most of the retail stores doesn’t keep spare parts

reason being that Fastrack watches style changes at a faster rate, hence customers are forced to go

with domestic brands straps which doesn’t even suit the watch. Another issue is that all varieties of

the brand is not available in all retail store, the customers are forced for online shopping to get

their desired watches.

About the Company
2.0 INTRODUCTION TO THE ORGANIZATION/INDUSTRY

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 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 watchworks 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

clockmaking 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 ³tool 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.

COMPANY PROFILE

TITAN INDUSTRIES
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, Bandra 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.
HTSE Technology

In July 2011 Titan launched the HTSE (High Tech Self Energized) collection of watches which run on

light. According to Titan these watches can be charged with as low as 200 lux of light which makes them

chargeable with light even from a candle. In its press release the company said that "HTSE draws its

design inspiration from the most complex self-energizing bodies built by mankind — space stations,

satellites and spaceships. Targeted at the tech-savvy, young urban male, this ultra-modern assortment is

truly an epitome of style and technology." These watches are at current available at select outlets in

select cities throughout the world.

PRECISION ENGINEERING DIVISION

Precision Engineering Division of Titan was started in 2002. It has become one of the leading

manufacturers of Precision PartsAutomotive and Aerospace Industries.The Diverse Product range

includes pointers, dashboard clusters like Fuel Gauge, Temperature Gauge, Gear Shift

Indicators, Clocks for Automobiles and any kind of Injection molded Plastic

parts, Electromechanical Assemblies for automobiles, all kinds of pressed and turned parts for

automobiles. The Tooling Sector of Precision Engineering Division manufactures all kinds

of Press Tool, Molds, Jigs, and Fixtures for various industries.

Titan Automation Solution, a part of Precision Engineering Division is a leading Automation

Solution Provider for all kind of industries. They made significant contributions to add value

during the product development stages of the low-cost water purifier, Tata swach, developed by

Tata Chemicals. The Automation Solution applied its precision engineering capabilities to supply

automation solutions for the development of special assembly presses that enabled mass

production of Tata swach.

JEWELLERY DIVISION

Tanishq is currently the most prominent jewellery brand of India, and it pioneered the concept of

branded jewellery and ornaments in India."Tan" in Sanskrit/Urdu means body and "Ishq" in Urdu

means love. Hence "Tanishq" which is becoming popular as an Indian baby name means

"embodiment of love". "Tan" in Sanskrit also means to extend or to spread. Hence "to extend love"

or "to spread love" are other meanings attributed to the name Tanishq. The name Tanishq has been

formed by combining "Ta" (the first two letters of Tata) and "Nishk or Nishkh" (meaning gold coin

or necklace in Sanskrit).

Tanishq is India's largest jewellery brand with a wide range of jewellery in 22Kt pure gold studded

with diamonds or coloured gems. It is the fastest growing jewellery brand in India. Tanishq,

established in 1995, challenged the established family jeweller and introduced new rules in

precious jewellery; a category as old as civilization. Tanishq challenged the age-old jeweller's

word with Tata's guaranteed purity. Tanishq's initial foray into the jewellery business was a failure

though. Tanishq at first introduced 18 Kt gold jewellery advertising 18 Kt as the 'international

standard.' This less pure gold was completely rejected by the market dominated by (purported) 22

Kt gold. Later on, it exploded the market with facts about rampant impurity across India. It

introduced technology-backed challenge in a category completely governed by blind individual

trust. Tanishq introduced innovations like Karatmeter, the only non destructive means to check the

purity of gold; machine made jewellery, which offers superior finish and value to the customer and

handcrafted jewellery which is influenced by various jewellery traditions of India.

Tanishq has set up production and sourcing bases with thorough research of the jewellery crafts of

India. The 135,000 sq ft (12,500 m2). factory is equipped with the latest and most modern

machinery and equipment. The factory complies with all labour and environmental standards,

located at Hosur, Tamil Nadu. The brand brings together the work of karigars, who specialize in
different styles of making jewellery. Karigars, who continue to be an exploited lot with other

jewellers, are paid fair remuneration and work under good working conditions in Tanishq.

FACE OF TITAN

The Company also runs a one of a kind contest in the retail industry called the Face Of Titan

(FOT) contest to identify the most talented Sales person, Manager & Service personnel Technician

& Cashier. The contest recognizes the best based on a set of parameters that give a measure of the

overall development of the individual in each of the categories mentioned above and is not solely

on sales.This program was conceived as an assessment center for front-line staff - by Aparna

Ponnappa, inspired at that time by staff who expressed their desire to 'perform' and 'be recognized'

for what they do. This program enabled the retail wing of Titan to empower staff to take charge of

their own skill development and provided them with a healthy and fun environment to compete

and showcase their own talent.The contest leapfrogged into the digital era from the year 2006-07

with the introduction of IT in the capturing of survey data across all of its 200+ stores, that year

also saw the introduction of the data gathered at the store level being used to profile the staff at

various levels using a custom built web based software developed by I.GEN Labs.TITAN

company has good reputation in Indian stock market (NSE). Sonata reached the top 100 most

trusted brands of India in a study - The Brand Trust Report conducted by Trust Research Advisory.

The same study has also ranked Titan as 10th Most Trusted Brand.

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 between 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.

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, Colour Play, Bikers, Army and others, each with their

distinct range of watches.

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.

CUSTOMER SEGMENTATION:
After carrying out an in-depth market study, Titan identified three distinct market segments for its

watches. The segments were arrived at using benefit and income level as the bases. The first

consisted of the high income/ elite consumers who were buying a watch as a fashion

accessory not as a mere instrument showing time. The next segment consisted of consumers

who preferred some fashion in their watches but to them price did matter. The third

segment consisted of the lower-income consumers who saw a watch mainly as a time-keeping

device and bought mainly on the basis of price

PROMOTION
Before Titan’s arrival on the scene, Indian watches manufacturers saw advertising as

a rather unnecessary expense Titan saw it as

a v i t a l i n v e s t m e n t , a s i t w e n t a b o u t f a s h i o n i n g b r a n d - b u i l d i n g criteria that has

since been embraced by the entire industry.The

brand has always invested hea vily i n showcasing its products, through

measures such as ‘catal ogue’ adve rtising and by using

t he p r i n t m e d i a r e g u l a r l y a n d e f f e c t i v e l y t o m e r c h a n d i s e m odels

A d v e r t i s i n g o f t h i s k i n d e n a b l e d c o n s u m e r s t o s h o p ‘ o f f the page’ and decide

which model they wanted.

Titan has made a mark in television promotions, too, where its advertisements have been

noticed for the music tracks used in them. In 1991,Titan created a

set of three promotional films to develop the ‘gifting’ market.

Watches had always been a great gift favorite, but Titan was convinced that much of t h e
s e g m e n t ’ s p o t e n t i a l l a y u n t a p p e d . E a c h o f t h e films explored a particular

relationship, wherein the gifting of a Titan generated a moving personal

moment for those involved. Advertising aside, the conception and ambience of Titan’s own retail

outlets

have b e e n a p o w e r f u l p r o m o t i o n a l t o o l f o r t h e c o m p a n y ’ s p r o d u c t s , T

h e s e a r e strategically located in the newer parts of cities and towns, always with a

highly refined and uniform frontage with window displays that invite people to walk

in. Inside, the Titan experience takes over. Brand offerings are highlighted in highly refined

settings that have the best of lighting, props and contextual information.Even if a visit

does not consummate in a purchase, the Titan touch is imprinted on consumers.The 160

‘World of Titan’ showrooms across 90 cities in the country,

refurbished in 2001, are symbolic of the bra nd’s sophistication. Continuous

innovation of retail design sustains the ‘invitation’ to visit the

store.T h e d e p e n d a b i l i t y q u o t i e n t i n t h e r e l a t i o n s h i p t h a t T i t a n h a s n u

r t u r e d w i t h consumers has been improved by the brand’s ne twork of after-

sales se rvicecen tres, whic h is unparalleled for its reach and

responsi vene ss.Adding to

t he benefits that consumers can expect are Titan ’s h igh-end ‘watc h-

c a r e c e n t r e s ’ , which offer showroom-like ambience and comfort.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

shoed 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.For the sunglasses, the brand

roped in the youth icon John Abraham as the brand ambassador. The celebrity fitted well with the

brand. Taking a cue from the fact that most of the TG for Fastrack owned a bike, Fastrack

launched a biker's collection which again is a classic example of consumer-centric product

innovation.The latest innovation is the neon - disc range of Fastrack watches that does not have
Hands to show the time but have electroluminescent disc that lits up to show the time.Another

advantage for this brand is the freshness that the agency had bought in its communication. Most of

the Fastrack ads has 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.

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.T i t a n ’ s p r i m a r y p r i c i n g o b j e c t i v e i s t o k i l l C o m p e t i t i o n

. B e i n g a n I n d i a n 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

PRICE DISCOUNTS AND ALLOWANCES

Fastrack once a year comes out with a Price discount sale on the MRP of

t he watches which is based on the stock carried by the company at the year

e n d . Warranties and Service Contracts Fastrack provides warranty or service contract to its

watches and this is backed up by the name TATA which is especially needed to convince and

march ahead in the lower segment market. Product Line Pricing Tata’s have paid Rs.10 crore for

the three-year contract.

For t h e T a t a s t h e m s e l v e s , i t m e a n t m o r e t h a n j u s t s p o n s o r s h i p –

i t s i g n a l e d t h e beginning of a new era in the Tata regime. One of the main reasons for the

sponsor of this event is “Global event like these provide a great opportunity to corporate to satisfy

their marketing objectives and cross-promote their brands”, The differences in the prices of the

watches are justified by the features, the style, and the differences which make up each watch.

Titan prices all its watches in such a way that it maximizes the total profit on the total mix. The
Tata Open T h e b a t t l e g r o u n d f o r t h i s n e w s t r a t e g y o f s y n e r g y s t a r t e d w i t h t h e

T a t a O p e n (India’s biggest tennis tournament) held every year in December – January.

LITERATURE REVIEW

In educated societies, the human brain has been trained to analyze text in a way that a reader is

able to interpret writing as whatever he or she sees in the meaning of the words by analyzing the

context in which the text was written. Through teaching people to read and analyze literature, the

educated society has become more accustomed to picking apart the words they are reading. That

same process, however, does not hold true for the human perception of images. Through societal

norms, we have grown accustomed to accept images as truth without using the same analytical

process to pick apart images in the way we do text. The human perception of “truth in images”

plays a major role in the modern day trend of manipulating photographs. In this increasingly

digital age, photographs can be manipulated to portray an illusion of whatever the manipulator

wants the picture to be. This can be especially prevalent in print advertising, where the main goal

is to influence the needs or desires of a consumer with persuasive images. (Barry, Ann Marie

Seward: Visual intelligence, 1997.)

World of time keeping in general and mechanical watches in particular is a fascinating and

complex field. Highly complex micro-mechanical systems, the history of development of

movements and design trends and political and personal intrigues of industry provide for

interesting reading and endless opportunity for research. (David S Landes; Revolution in time,

2004).Titan's play in the lifestyle category is similar to what US watch and accessory brand Fossil

did --diversifying into eyewear, handbags, jewellery, shoes and apparel (in some geographies).

Titan Industries, which started as a watch brand in 1984, is taking a fresh gamble--to turn into a

full-scale lifestyle company. The firm's youth brand Fastrack will drive this transformation, an

effort partly to ensure that the parent brand Titan is shielded from any risk. Fastrack is already

into watches and eyewear, and now it is looking at categories like bicycles, helmets, shoes and
apparel. (Economic Times, 10 march 2012) Every year hundreds of wrist watches are introduced.

Some features innovative designs or mechanical improvements and others available only in limited

editions, keeping the field interesting for collectors. (Peter Bron; Wrist watch annual,

2004)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. More than a need, wristwatch has now become

a fashion statement among the youth. They don’t consider the Fastrack brand as cheap but

affordable. Titan has made a mark in television promotions, too, where its advertisements

have been noticed for the music tracks used in them. In 1991,Titan created a

set of three promotional films to develop the ‘gifting’ market.

Watches had always been a great gift favourite, but Titan was convinced that much of t h e

s e g m e n t ’ s p o t e n t i a l l a y u n t a p p e d . (Times magazine, March 2001)

Objective of the Study
OBJECTIVES OF THE STUDY

1. To understand the existing product quality in Fastrack watches.

2. To investigate whether the product quality of Fastrack watches is capable of addressing all

demands made by customer.

3. To identify the difference between Expectation & Perception of customers in product

quality offered by Fastrack watches.To understand about the customer satisfaction for

Fastrack watches

.
Scope of The Study

 Fastrack is the brand for the young generation

 Fastrack which caters mostly to the young generation

 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.

 There are various collections which can be found amongst the Fastrack watches.

 The New collection signifies all the latest models being introduced by Fastrack while there

are the Grunge, Hip Hop, Neon, Digital Fashion, Aluminum, Colour Play, Bikers, Army

and others, each with their distinct range of watches.

Use & Importance of the Study

1. The success of the wristwatch was born out of necessity, and Rolex continued this tradition

by introducing a series of Professional, or ³tool watches´ in the early 1950s

2. Its product portfolio includes watches, accessories and jewellery, in both contemporary and

traditional designs

3. Titan Fastrack watches sales has subsequently compelled Titan to establish it as a separate

brand.

4. Titan has an enviable brand image in India, being ranked number 1 six times in the last

seven years, and second once.

5. This type of spring was used in Italy about 1450.

RESEARCH METHODOLOGY

RESEARCH
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.

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. The
research study applied here is purely descriptive.

SAMPLING TECHNIQUE
The simple random sampling method was used for the primary data collection. Simple random

sampling is the basic sampling technique where we select a group of subjects (a sample) for study

from a larger group (a population). Each individual is chosen entirely by chance and each member

of the population has an equal chance of being included in the sample. Every possible sample of a

given size has the same chance of selection; i.e. each member of the population is equally to be

chosen stage in the sampling process. There are two types of sampling techniques. They are

Probability sampling and Non-Probability sampling. The researcher adopted Non-probability

sampling.
NON-PROBABILITY SAMPLING
Non-probability sampling procedure, which does not afford any basis for estimating the probability

that each item in the population has been include in the sample

CONVENIENCE SAMPLING
The researcher has adopted convenience sampling method for this study.

SAMPLE SIZE
50 respondents are chosen as a sample size for the study.

DATA COLLECTION

Target Audience: Fastrack watches customers in CET campus, Sreekaryam, Trivandrum

Area of Study: CET campus, Sreekaryam region.

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.

SECONDARY DATA
In 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 and journals.

SIGNIFICANCE OF THE STUDY

The watch industry is in the current scenario is booming and undergoing a rapid growth. The

emergence of new generation private and foreign watches in the Indian watch market has raised

the competitiveness in the industry. The study aims at identifying the extend to which the product

quality of a watch affects its competitiveness. The outcome of the study reveals the current

perception about the watches rooted in the minds of the customers which could be useful in

formulating the strategies in future operations of the company, for the attainment of its goals in this

competitive scenario.

LIMITATIONS OF STUDY

The following are the limitations of the study

 Mobile phone has become the most necessary commodity/service, so it was difficult to define

the population in a particular place.

 50 respondents cannot represent the population, as a whole. So the findings may be biased.

 Time plays a havoc role in data collection. So, the sample is restricted to 50.

 Chances of biased responses from the customers

DATA ANALYSIS AND INTERPRETATION

ANALYSIS AND INTERPRETATION

For evaluating the quality of customer satisfaction of Fastrack watches, a number of critical

variables are selected for conducting an in depth analysis. The results of the analysis are presented

in the following sections.

OCCUPATION OF THE RESPONDENTS

TABLE 1.1
S.NO OCCUPATION PERCENTAGE
1 Professional 14
2 Business 30
3 Employee 34
4 Student 22
Total 100

INTREPRETATION
From the above table, it shows that, 34% of the respondents were employee, 30% of the

respondents were Business People, 22% of the respondents were students and 14% of the

respondents were professional.It inferred that Majority (34%) of the respondents were employees.

OCCUPATION OF THE RESPONDENTS

CHART 1.1
 34

35
30

30
PERCENTA GE OF THE R ESPOND ENT

22
25

20
14

15

10

0
Professional Business Employee Student

EDUCATIONAL QUALIFICATION OF THE RESPONDENTS

TABLE 1.2

S.NO EDUCATION PERCENTAGE

1 School Level 34
2 Under Graduate Level 50
3 Post Graduate Level 14
4 Others 2
Total 100

INTREPRETATION
From the above table, it shows that, 50% of the respondents were under graduates, 34% of the

respondents studied up to school level, 14% of the respondents were post graduates and 2% were

included in others.It inferred that majority (50%) of the respondents were under graduates.
EDUCATIONAL QUALIFICATION OF THE RESPONDENTS

CHART 1.2
50

50

45

40 34
PERCE NTAG E O F TH E RESP O N DE NT

35

30

25

20 14

15

10
2
5

0
School Level Under Graduate Level Post Graduate Level Others

AGE OF THE RESPONDENTS

TABLE 1.3
S.NO AGE PERCENTAGE
1 Below 25 38
2 26 – 35 42
3 35 – 45 14
4 Above 45 6
Total 100

INTREPRETATION
From the above table, it shows that, 42% of the respondents belong to the age group 26 -35, 38%

of them were below 25, 14% belong to the age group 35-45, only 6% of the respondents were

above 45.It is inferred that, (42%) Majority of the respondents belong to the age group 26-35.
AGE OF THE RESPONDENTS

CHART 1.4
42
45
38
40

35
P ER C EN T AG E O F TH E R E SP O N DE N T

30

25

20 14

15

6
10

0
Below 25 26 – 35 35 – 45 Above 45

GENDER OF THE RESPONDENTS

TABLE 1.5
S.NO GENDER NO OF RESPONDENTS PERCENTAGE
1 Male 30 60
2 Female 20 40
Total 50 100

INTREPRETATION
The analysis shows that, 60% of the respondents were Male and 40% of the respondents were
Female.
GENDER OF THE RESPONDENTS

CHART 1.6

PERCENTAGE OF THE RESPONDENT

Male

Female

40%

60%

AWARENESS ABOUT THE PRODUCT THROUGH ADS

Table 1.6
Response Percentage
Strongly agree 54
Some what agree 31
Disagree 8
Strongly disagree 7
Neutral 0
Total 100
 Chart No 5.2

Interpretation
54% of the respondents strongly agree that they are aware about the range of products provided

by Fastrack watches through advertisements’. 31% of the respondents somewhat agree. While 8%

of them disagree this and 7% of the respondents strongly disagree this.Majority of respondents are

aware about the various range of products provided by Fastrack watches through advertisements’.

COMPARISON OF FASTRACK WATCHES WITH OTHER

TITAN BRANDS

TABLE 1.7
S.NO OPINION PERCENTAGE
1 Strongly Agree 20
2 Agree 56
3 Disagree 2
4 Strongly Disagree 22
Total 100
INTREPRETATION

From the above table, it shows that, 56% of the respondents agreed, 22% of the respondents

strongly disagreed, 20% of them strongly agreed and only 2% of the respondents disagreed that

Fastrack watches and other Titan brands only differ in price range.It inferred that 56% of the

respondents agreed Fastrack watches and other Titan brands only differ in price range

COMPARISON OF FASTRACK WATCHES WITH OTHER

TITAN BRANDS

CHART 1.8
56
60

50
PE RC EN TA G E O F T H E R E SP O N DE NT

40

30 22
20

20

10
2

0
Strongly Agree Agree Disagree Strongly Disagree

COMPARISON OF FASTRACK WATCHES WITH ITS

COMPETITORS

TABLE 1.9
S.NO OCCUPATION PERCENTAGE
1 Excellent 30
2 Good 46
 3 Satisfactory 20
4 Poor 4
Total 100

INTREPRETATION

From the above table shows that, 46% felt that Fastrack watches are good than its competitors,

30% of them felt excellent, 20% of them were satisfied and only 4% of the respondents felt poor.

It inferred that majority (46%) of the respondents felt that Fastrack watches are good than its

competitors

COMPARISON OF FASTRACK WATCHES WITH ITS

COMPETITORS

CHART 1.9

46
50

45

40
PER C EN TA G E O F TH E R ESP O ND E NT

35 30

30

20
25

20

15

10 4

0
Excellent Good Satisfactory Poor

PERIOD OF USAGE OF FASTRACK WATCHES BY THE

RESPONDENTS

TABLE 1.10
S.NO PERIOD OF USAGE PERCENTAGE
 1 More than 1 year 66
2 1 Year 20
3 6 Months 4
4 Recently 10
Total 100

INTREPRETATION
The above table shows that, 66%% of the respondents used Fastrack watches for more than 1 year.

20% of them used for 1 year, 10% of the respondents used only recently & only 4% of the

respondents used only before 6 months.

It inferred that (66%) majority of the respondents used the Fastrack watches for more than 1 year.

PERIOD OF USAGE OF FASTRACK WATCHES BY THE

RESPONDENTS

CHART 1.11
 66
70

PERCENTAG E O F THE RESPO NDENT 60

50

40

30
20

20
10

4
10

0
More than 1 year 1 Year 6 Months Recently

AFFORDABILITY OF FASTRACK WATCHES

TABLE 1.12
S.NO AFFORDABLE PERCENTAGE
1 Strongly Agree 32
2 Agree 56
3 Disagree 6
4 Strongly Disagree 6
Total 100

INTREPRETATION
From the above table shows that, 56%% of the respondents agreed that Fastrack watches are

affordable. 32% of them strongly agreed it. Only 6% of them disagreed and strongly disagreed it.It

inferred that majority (56%) of the respondents agreed that Fastrack watches are affordable.
AFFORDABILITY OF FASTRACK WATCHES

CHART 1.13

56
60

50
PER CEN TA G E O F TH E R ESPO N DET

40 32

30

20

6 6
10

0
Strongly Agree Agree Disagree Strongly Disagree

CUSTOMER SERVICE OF FASTRACK WATCHES

Table 1.14
Response Percentage
Strongly agree 28
Some what agree 38
Disagree 16
Strongly disagree 12
Neutral 6
Total 100
 Chart No 1.14

Interpretation
As from the above table it can be seen that 28% of the respondents have strong agreement that the

customer service personnel have sufficient knowledge about their products. 38% of them

somewhat agree to this. 16% of the respondents disagrees to this and 12% of the strongly

disagrees this. Remaining 6% of the respondents neutral to this.

Most of the customers felt that customers service personnel has good knowledge about the

product.

GENERAL BEHAVIOR OF CUSTOMER SERVICE PERSONNEL

Table 1.15
Response Percentage
Strongly agree 42
Some what agree 12
Disagree 32
Strongly disagree 5
Neutral 9
Total 100
 Chart No 1.15

Interpretation
It can be seen from the above table that 42% strongly agrees that the general behaviour of

customer service personnel of Fastrack watches was good. 21% of the respondents somewhat

agrees that it was good. While 32% of them disagrees and according to them it was not good, only

5% of the respondents strongly disagrees this.

Only 42% of customers are satisfied with General Behavior of customer service personnel of

Fastrack watches, majority of customers are not satisfied because the product range of Fastrack is

vast and it is difficult for the service personnel to give proper service aids to Fastrack watches.

PRODUCT OF COMPETITOR
Table 1.16
Response Percentage

Yes 36

No 64

Total 100
 Percentage

Yes
36%

No
64%

Chart No 1.16

Interpretation
From the above table it can be seen that 36% of the respondents have watches of competitor, 64%

of them do not have any other watches.

Table No 1.16.2
Reason Percentage

Better quality 28

Modern technology 12

Affordability 48

Others 12

Total 100
Chart No 1.16.2

Interpretation
It is clear from the above table that 28% of the respondents have watches of competitor due to

better quality. Because of modern technology 12% of respondents have watches of competitor.

While 48% of the respondents choose the same due to the reason that it is affordable. 12% of them

select the same due to other reasons. Majority of customers use Fastrack watches only, this shows

that loyalty of customers enjoyed by company. This strong customer loyalty is laying an effective

foundation for Fastrack watches.

RESPONSE OF STAFF TOWARDS CUSTOMER’S ENQUIRY

Table 1.17
Response Percentage

Strongly agree 14

Some what agree 38

Disagree 20
 Strongly disagree 28

Neutral 0

Total 100

Chart No 1.17

Interpretation
It can be seen from the above table that 14% of the respondents strongly agrees that whenever they

approached the staff with a question they responded properly. 38% of the respondents somewhat

agree with this, while 20% of the respondents disagree this, remaining 28% of them strongly

disagree this.

Most of customers are not satisfied with Fastrack’s customers enquiry, so Fastrack should give

proper knowledge & awareness to their staff regarding their products & services so they can give

sufficient clarification for all queries that arise from customers.

SUGGESTIONS FOR IMPROVING QUALITY OF SERVICES
Table 1.19
Suggestion No. of respondents Percentage

Minimization of service
0 0
time

Better customer care 69 69

Better communication of
21 21
product detail

Modern technology 10 10

Total 100 100

Chart No 1.18

Interpretation
It can be seen from the above table that according to 69% of the respondents better customer care

is the suggestion for improving quality of services. According to 21% of the respondents better
communication of product detail is the suggestion. According to 10% of them modern technology

is the suggestion. None of the respondents put forward the suggestion of minimization of service

time.

Most of respondents are demanded that Fastrack should better its customer care with more

pleasing nature, willing to help them etc in order to attain the customer satisfaction.

PRODUCT RANGE OF FASTRACK WATCHES

Table 1.19
Response Percentage

Strongly agree 37

Some what agree 25

Disagree 16

Strongly disagree 11

Neutral 11

Total 100

Chart No 1.19

Interpretation
The above table shows that 37% of the respondents strongly agrees that the product range provided

by Fastrack is satisfying. 25% of the respondents somewhat agrees to this. While 16% disagree

this, 11% strongly disagree and remaining 3% neutral this.Majority of customers are satisfied with

product range of bank. It will help the brand to establish new leads & to have new customers with

reference to their existing customers.

CHANCE OF PURCHASING RIVAL BRAND
Table 1.20
Response Percentage

Strongly agree 15

Some what agree 22

Disagree 46

Strongly disagree 17

Neutral 0

Total 100
 Chart No 1.20

Interpretation
As from the above table it can be seen that 15% of the respondents strongly agrees that they will

purchase watches of rival brand. 22% of the respondents somewhat agree to this. While 46% of

them disagree this. 17% of the respondents strongly disagree that they will purchase watches of

rival brand.

63% of customers are disagree the fact that they will purchase rival brand, it show the Fastrack

providing excellent service and products to their customers to keep its customer & to survive in

competitive environment.

OPINION ABOUT WEBSITE

Table 1.21
Reason Percentage

Excellent 40

Good 35

Satisfactory 21

Needs improvement 4

Total 100
 Percentage

Needs
improve
ment
Satisfact 4%
ory
21%

Excellent
40%
Good
35%

Chart No 1.21

Interpretation
From the above table it can be seen that 40% of the respondent are of the opinion that the website

of Fastrack watches is excellent. 35% of the respondents expressed that it is good. According to

21% of the respondents it is only satisfactory. Remaining 4% of them expressed their opinion that

it needs improvement.Study shows that Fastrack watches website have excellent rating and it can

be further improved again by including detailed information of various vouchers, offers &

promotions related to their products.

STATISTICAL STUDY

TESTING OF HYPOTHESIS
The statistical test, in which the test statistics follow a chi-square distribution, is called the chi-

square test. Therefore chi-square test is a statistical test, which tests the significance of difference

between observed frequencies and the corresponding theoretical frequencies of a distribution,

without any assumption about the distribution of the population. Chi-square test is one of the
simplest and most widely used non-parametric test in statistical work. This test was developed by

Prof. Karl Pearson in 1900.

HYPOTHESIS 1

H0 : There is no significance difference between customers opinion about affordability of

Fastrack watches.

H1 : There is significance difference between customers opinion about affordability of Fastrack

watches

2
(O – E ) 2
O E (O – E)
E

Strongly agree 12 10 4 .4

Some what agree 15 10 25 2.5

Disagree 10 10 0 0

Strongly disagree 12 10 4 .4

Neutral 1 10 81 8.1

50 50 11.4

X2 =  (O – E)2 = 11.4
E

Degree of freedom, n-1 = 5 – 1 = 4

Significance level = 0.05

Table value = 9.488

Interpretation

Table value is less than calculated value so we reject null hypothesis and accept alternate

hypothesis.

 There is significanct difference between customers’ opinion about affordability of Fastrack

watches

Hypothesis 2
H0 : There is no significance difference between customers’ opinion about product range provided

by Fastrack watches.

H1 :There is significance difference between customers’ opinion about product range provided by

Fastrack watches

(O – E ) 2
O E (O – E) 2
E

Strongly agree 13 10 9 .9

Some what agree 15 10 25 2.5

Disagree 11 10 1 .1

Strongly disagree 6 10 16 1.6

Neutral 5 10 25 2.5

50 50 7.6

X2 =  (O – E)2 = 7.6
E
Degree of freedom, n-1 = 5 – 1 = 4

Significance level = 0.05

Table value = 9.488

Interpretation
Table value is greater than calculated value so we accept null hypothesis.

 There is no significance difference between customers’ opinion about product range provided

by Fastrack watches
FINDINGS

After analyzing & interpreting the data received from the respondents, following findings have

been drawn:

1. Majority of respondents are aware about the various range of products provided by

Fastrack watches through advertisements’.

2. Majority of the respondents agreed Fastrack watches and other Titan brands only differ in

price range

3. Majority of the respondents felt that Fastrack watches are good than its competitors

4. Majority of the respondents used the Fastrack watches for more than 1 year.

5. Majority of the respondents agreed that Fastrack watches are affordable.

6. Most of the customers felt that customer service personnel has good knowledge about the

product.

7. Majority of customers are not satisfied with general behavior of customer service personnel

because the product range of Fastrack is vast and it is difficult for the service personnel to

give proper service aids to Fastrack watches.

8. Majority of customers use Fastrack watches only, this shows that loyalty of customers

enjoyed by company. This strong customer loyalty is laying an effective foundation for

Fastrack watches.

9. Most of customers are not satisfied with Fastrack’s customers’ enquiry, so Fastrack should

give proper knowledge & awareness to their staff regarding their products & services so

they can give sufficient clarification for all queries that arise from customers.

10. Most of respondents are demanded that Fastrack should better its customer care with more

pleasing nature, willing to help them etc in order to attain the customer satisfaction.

11. Majority of customers are satisfied with product range of bank. It will help the brand to

establish new leads & to have new customers with reference to their existing customers.
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 itself 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. Most of

the consumers prefer Fastrack watches due to its strong brand image, and the main factor

forcing the customers to buy Fastrack watch is advertisements through the print and

electronic media

SUGGESTIONS
1. Customer of Fastrack watches is well known about the product range provided by the

brand.

2. 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

3. From the survey it is clear that service quality offered by the Fastrack brand has a good

influence on customers. So Fastrack should improve its customer service quality to retain

and satisfy customers

4. 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.

RECOMMENDATIONS & SUGGESTIONS

1. There is so much percentage of customer are dissatisfied with general behavior of customer

service personnel, so they should be given proper training to improve the quality of service

2. Often the product range displayed in the ads are not available in stores, so it should be

ensured that product ranges are available as soon as possible. Or the website should provide

a solution like e-tailing.

3. Due to emergence & tough competition from rivals Fastrack watches should soon

implement online ordering and selling. If cash on delivery scheme is implemented it can

enhance sales

4. For common doubts & queries suitable recordings can be made. Queries &

recommendations can be uploaded in website of Fastrack.

Bibliography

1. Philip Kotler (2006) ,“Marketing management”, 10th edition

2. Kothari. C.R.(2005), “Research Methodology Methods and Techniques”, 4th edition

3. L R Potty (2011), “Research Methodology”

4. Barry, Ann Marie Seward. (1997). Visual Intelligence: Perception, Image and

Manipulation in Visual Communication.

5. Kotler & Keller (2008), Marketing management, 8th edition

1. http://encartaupdate.msn.com/wristwatches.aspx

2. http://realestate.msn.com/branding/titanindustries.aspx?cpdocumentid

3. http://watches.about.com/od/history/a/Deontological.htm

4. http://productquality.about.com/b/2003/12/31/product
QUESTIONNAIRE
Questionnaire for the Project on the topic “Assessment of product and service quality of Fastrack

watches”

Name : Gender :
Age : Occupation :
Education : Signature :
Do you own Fastrack watch?
 Yes
 No

2.Reason for selecting Fastrack watch

 Brand value
 Style
 Prestige symbol
 Others (specify________________)

3.You came to know about the brand via

 Ads
 Social network
 Peers
 Family
 Others (Specify________________)

4.How long have you been using Fastrack watch?

 0-6 months
 6-12 months
 12-18 months
 More than 18 months

5.how many times you went to repair the watch

 Never
 One time
 Two time
 Three time
 More than three times

Strongly Agree Disagree Strongly

agree disagree
Style range is good
It is worth the money
Advertised collection is available in
store
Satisfied with what I paid for what I
bought

6.Put tick mark for your choice

7.In your most recent customer service experience how did you contact the representative?
 In person
 By phone
 Through retailer/dealer
 Other (specify______________)
 Not applicable

8.Did the representative (select all that apply)

 Quickly identify the problem
 Appear knowledgeable and competent
 Help you understand the cause and solution to the problem
 Handle issue with courtesy and professionalism
 Not applicable

9.About how long it take to get this problem resolved?

 Immediate resolution
 Less than a day
 2-3 days
 More than a week
 Problem is still not resolved
 Not applicable
 10.Compared to other brands Fastrack is
Strongly agree Agree Neutral Disagree Strongly disagree  Mu
Overall quality ch
Purchase experience bett
Usage experience er
After purchase service  So
(warranty, repair etc) me
wh
at better
 About the same
 Somewhat worse
 Much worse

11.Fastrack watches are affordable

 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree

12.Titan brands like Raga, Sonata etc only differ in price range
 Strongly agree
 Agree
 Disagree
 Strongly disagree

13.Fastrack is excellent for the following (Answer if only applicable)

Definitely Probably Not sure Probably will Definitely will

will will not not
Buy Fastrack again
Recommend others to
buy Fastrack
Will buy other brand

14.Put tick for the applicable ones