ABSTRACT

Customer satisfaction is an indispensable component of the Marketing function

and it can be simply defined the number of customers, or percentage of total customers, whose
reported experience with a firm, its products, or its services exceeds specified satisfaction goals.
The Objective is to study on the level of satisfaction among the customers and to evaluate the
customer’s opinion towards the Titan watches and suggest some improvements that can be
helpful for the development of the organization. The research design adopted for this study is
descriptive design. Data contains primary data and secondary data. Analysis is done on various
perspective such as customer’s perceptions, expectation of the customer’s, opinion regarding
the TITAN watches.

Key words: Customer satisfaction, Expectation, Watch, Product, Price, Design,

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 CHAPTER 1

INTRODUCTION

1.1 INTRODUCTION ABOUT THE STUDY

Customer satisfaction is the study how individual customers, groups, or organizations

select, buy, use and dispose ideas, goods, and services to satisfy their needs and wants. It
refers to the action of consumers within the market place and underlying motives for those
action.

Marketers expect that by understanding what cause the consumers to buy particular goods and
services, they will be able to determine which products are needed in the, market place,
which are obsolete, and the way best to present the products to the consumers.

1.2 HISTORY OF WRIST WATCHES

Today, a wristwatch is taken into account the maximum amount of a standing symbol as a
tool to inform time. In an age when cell phones and digital pagers display tiny quartz clocks,
the mechanical wristwatch has slowly subsided of an object of function and more a bit of
recent 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, JaegerLeCoultre 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 well-liked status symbol of the time no 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
gentleman were actually quoted to

1
mention they would sooner wear a skirt as wear a wristwatch´. The established watch making
community looked down on them also. Because of their size, few believed wristlets couldn't
be made to realize any level of accuracy, nor could they withstand the essential rigors of
human activity. Therefore, very few companies produced them in quantity, with the vast
majority of these 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 utilized in Italy about 1450. About 1500 Peter Henlein, a locksmith
in Nurnberg, Germany, began producing paragraph timepieces known popularly as Nurnberg
eggs. In 1525 another artisan, Jacob Zech of Prague, invented a fuse, 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 Hooke, for the balance, and a
lever escapement devised by British inventor Thomas Mudge about 1765.

Minute and second hands, and crystals to guard both the dial and hands, first appeared on
17thcentury watches. Jewelled bearings to scale back friction and prolong the lifetime of
watch works were introduced within 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 because the
Paris Guild of Clockmakers (1544) were organized to regulate the art of clockmaking and its
apprenticeship. A guild referred to 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 began to change within the nineteenth century, when soldiers discovered their
usefulness during wartime situations. Pocket watches were clumsy to hold and thus difficult
to work while in combat. Therefore, soldiers fitted them into primitive cupped´ 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 a good bigger step with the invention of
the expandable flexible

2
bracelet, also because the introduction of wire loops (or lugs) soldered onto small, open faced
watch cases, allowing leather straps to be more easily attached. This aided their adaptation
for military use and thus marked a turning point within 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 pierced metal covers frequently called shrapnel guards.
These were basically metal grills (often made from silver), placed over the dial of the watch
thereby protecting the glass from damage while still allowing the time to be easily read. A
less common solution was the utilization 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 within the extreme climates of Australia and Africa Over subsequent
decade, watch companies slowly added additional models to their catalogues, and eventually,
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 employed to the present day by watch companies around the
world.

The success of the wristwatch was born out of necessity, and Rolex continued this tradition
by introducing a series of Professional, or tool watches´ within the early 1950s. These
models, including the Submariner, Explorer, GMT-Master, Turn-O- Graph, and Milgauss
were also designed out necessarily, 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 British Royal Navy, Royal
Canadian Navy and British Royal Marines, also because 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 overall public now leaning toward high-tech, digital
gadgets, the classic mechanical wristwatch was come to the market.

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1.3 INDUSTRY PROFILE

Over the century’s watches have been used as a status symbol by those who wear them. The
precision, elegance, and convenience are just a few of the attributes that a watch represents.
Often, they're bought purely for his or her aesthetic look and at other times, they're bought
due to their technical features, like being precise to the last second or maybe millisecond.
This is what makes watches such a desirable collectible primarily, secondarily in some cases,
they will command high sums of cash. This report provides an analysis and evaluation of the
newest available data within the watch industry globally. The report is structured into few
sections. Firstly, there's an analysis of the worldwide industry and therefore the market with
statistic data, trends, and potential growth, sales in volume and value. Following this part is
that the geographical overview of the market, detailing 16 countries, the trends, and insights
of the watch industry there. The last part which will conclude this research may be a Graph
on quite 20 world-renown watch brands with a rundown on their economic state, figures on
each brand’s sales and revenues, price ranges for his or her timepieces and a few information
regarding a brand’s main market, region-wise.

Clocks and Watches are devices want to measure or indicate the passage of your time. A
clock, which is larger than a watch, is typically intended to be kept in one place; a watch is
meant to be carried or worn. Both sorts of timepieces require a source of power and a way
of transmitting and controlling it, also as indicators to register the lapse of your time units.
Wrist watches were once a requirement, but now it's become a requirement. Different brands
with different technology, design and innovations have entered into the market.

While screening the watch industry, there were some general findings in the industry. The
internet retailing growth is that the main market driver, which is extremely beneficial for the
watch market. Looking at the newest trends, it is often noticed that the game and therefore
the smart watches are increasing in demand. Furthermore, there are future expectations for
the entire industry to grow.

According to the report Global Watch Market 2017-2021, the global watch market is expected
to grow at a CAGR of 7.87% during the period 2017-2021. Approximately an equivalent
number is found during a different source, during a report, Global Watch Market -
marketing research 2015-2019, where it’s stated that the high

4
demand for Swiss luxury watches is boosting sales and the market is expected to reach
CAGR of more than 7.6% during the 2015-2019 period. Manufacturers also are entering the
e-commerce segment by fixing their own e-boutiques. Online sales of watches have witnessed
considerable growth and therefore the trend is predicted to continue during the forecasted
period.

According to “Wrist Watch Industry Statistics”, the gathered data from relevant sources
(Federation of Swiss Watch Industry (FH), Convention Patronale, Bank Vontobel, Contrôle
Official Suisse des Chronometers (Official Swiss Chronometer Testing Institute, or COSC)
and Interbrand) presents some important statistics about the Watch Industry. There are
1.200.000.000 watches sold worldwide, of which
29.200.000 are Swiss Watches. Switzerland has 54% of the watch market share. The average
cost of a timepiece in Switzerland for the year 2016 was $739. In one fiscal year, the
number of watches produced in China was 663.000.000 and
354.000.00 in Hong Kong.

The Swiss Watch Industry has been facing some difficulties since 2015, because it was stated
within the Deloitte Swiss Watch Industry Study 2016. The export of watches plummeted
within the half of 2016 to rock bottom level, since 2011.

According to Forbes’s article from January to July 2016, Swiss watch exports declined by
27% in Hong Kong, by 17% in France, and 10% within the US, a reasonably mature market
for luxury watches. In Canada and a few Middle East markets, sales have increased. In
addition to the present information, Forbes published a piece of writing to elucidate which
factors have influenced the decline within the luxury watches sales: the strong Swiss franc,
China’s crackdown on luxury gift-giving, tumbling oil prices, currency turbulence in Russia,
uncertainty related to the U.S. election or terror attacks in France, where tourism has slumped.
In Europe, sales have only increased within the UK, particularly following the Brexit vote,
which weakened the pound and thus lowering the worth of luxury watches.

A research conducted by the Federation of Swiss Watch Industry FH, “The Swiss and World
Watch making Industries in 2016” states that China has remained far and away the most
important exporter in 2016. It exported 652.0 million wrist watches, 4.5% fewer than in
2015, while Hong Kong suffered a substantial decline in watch exports. In all, 241.1 million
timepieces left the Special Administrative Region last

5
year, in other words, 12.9% fewer than in 2015. As their value followed a comparable trend,
the average price was held at $24. Switzerland is ranked third with 25.4 million watches
exported. This result was 9.8% lower than in 2015. The average export price also fell from
$748 to $708.

According to Statistic Brain globally, the most important buyers of watches were the
consumers in Hong Kong, USA, China, France, and Germany. The market share percentage
of each country varies from 20.4% (Hong Kong) to 5.6% (Germany).

In the report, Global Watch marketing research 2015 - 2019 for the Asia-Pacific region, in
terms of geographical segmentation, APAC accounted for the most important share of the
market. The number of High-Net-worth Individuals (HNWIs), rapidly expanding upper
bourgeoisie, increasing interest of consumers in luxury products, an outsized portfolio of
products, innovations, and new product launches are all expected to fuel the expansion of
the market in APAC during the forecasted period. This region is expected to experience
growth and to continue its strong position in the global watches market, accounting for a
48.66% share in 2019.

The article Luxury watch industry hopes worst is behind it, at last, found on the Financial
Times’s website, supports the claim that the watch market and sales are growing in the Asia-
Pacific region, where sales went up by 10%, thanks largely to the “strong performances” in
mainland China and Korea.

According to the last sources, speaking of the Asia – Pacific region, Hong Kong, China in
2017 saw a recovery with current value growth of 2%, compared to the decline of 7% in
2016. In the forecasted period, watches are expected to post a value CAGR of 2% at constant
2017 prices to reach a retail sales value of $3, 45 billion in 2022. Europe and North America
are expected to experience slow growth within the future.

The North America Smart Watches market – By Type report reveals that North America is
one among the leaders within the smart watches market with the most important number of
sales. This explains that N.A.’s leadership position may be a result of the massive influx of
smartphones within the population and also the increased purchasing power of the
consumers.

6
Smart watch gadgets have begun to receive tons of crowd attention within the market, and
are estimated to grow tons quite anticipated, given their convenience and their flexible
functionality. However, the Latin America region (Mexico, Argentina, Brazil, and etc.) isn't
far behind this trend, because watches became one among the foremost important accessories
within the past season.

On the opposite hand, a search from Euromonitor International stated that Russia in 2016
faced a difficult situation, despite avid signs of recovery. In 2017, retail volume sales
declined by 5%, only to fall under 3.1 million units. Watches are expected to see a 1% retail
volume CAGR over the following period of time. Nevertheless, because the economic
situation improves, sales volumes are predicted to start out rebounding from 2019/2020
onwards. Another research from Europa Star in 2013 stated that Moscow, with around 30
importers is that the major centre within the watch business, followed by Saint Petersburg
with just two companies. There is additional dozen approximately wholesalers, a number of
which can also act as importers. Since Soviet times, Russia had its own watch industry,
which supplied quality mechanical watches with domestically produced movements. In those
times, the imported watch sector was almost insignificant and it mostly consisted of
mechanical Citizen, Seiko and Orient watches.

BIGGEST GROUP AROUND

1. Swatch Group (Switzerland)

Breguet, Blancpain, Glashütte Original, Harry Winston, Jaquet Droz, Omega, Léon
Hatot, Longines, Rado, Union Glashütte, Tissot, Calvin Klein, Balmain, Certina,
Mido, Hamilton, Swatch, Flik Flak.

2. Richemont Group (Switzerland)

Vacheron Constantin, A. Lange & Söhne, Jaeger-LeCoultre, Roger Dubuis, Piaget,

IWC Schaffhausen, Officine Panerai, Ralph Lauren, Baume & Mercier, Cartier, Van
Cleef & Arpels, Montblanc, Dunhill.

3. LVMH Group (France)

TAG Heuer, Bulgari, Hublot, Zenith, Dior, Fred, Chaumet, Louis Vuitton.

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4. Kering Group (France)

Ulysse Nardin, Girard-Perregaux, JeanRichard, Gucci, Boucheron, Qeelin, Bottega

Veneta.

5. Seiko Group (Japan)

Seiko, Grand Seiko, Credor, Pulsar, Lorus, Alba, Orient.

6. Fossil Group (USA)

Fossil, Relic, Michele, Zodiac, Skagen, Adidas, Burberry, Diesel, DKNY, Michael Kors,
Tory Burch, Marc Jacobs, Emporio Armani, Emporio Armani Swiss Made, Armani
Exchange, Karl Lagerfeld.

Outside those groups, then we've the independent watch brands, they’re not in the least small,
a number of them are literally behemoths of the industry. In this category, we've for instance,
Rolex, Audemars Piguet, Patek Philippe, Manufacture Royale, Richard Mille, and Greubel
Forsey.

1.4 COMPANY PROFILE

Titan Industries is that the world's fifth largest wrist watch manufacturer and India's leading
producer of watches under the Titan, Titan, Sonata, Nebula, RAGA, Regalia, Octane & Xylys
brand names. it's a venture between the Tata Group, and therefore 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 round the world with manufacturing facilities in Hosur, Dehradun, Goaand
manufactures precious jewellery under the Tanishq name, making it India's only national
jewellery brand. It is a subsidiary of the Tata Group.

Titan Company Limited (earlier referred to as Titan Industries Limited) is an Indian

commodity company. It is a joint venture between the Tata Group and the Tamil Nadu
Industrial Development Corporation

8
It commenced operations in 1984 under the name Titan Watches Limited. In 1994, Titan
diversified into jewellery with Tanishq and subsequently into eyewear with Titan Eye plus.
In 2013, Titan entered the fragrances segment with the brand Skin and, later that year, it
ventured into the helmet’s category under its brand Titan. Also, Titan announced recently
(during the last quarter of 2016) about launching a series of affordable Smartwatches under
its brands like Sonata and Titan soon. Today, Titan Company is Tata Group's largest
consumer company.

PRODUCTS

WATCHES

The watches division comprises brands Titan, Sonata, Raga, Octane and Xylys. In 2011, the
company secured, licence for marketing & distribution of Tommy Hilfiger and Hugo Boss
watches. Favre Leube was incorporated in 2012. In 2018, the division accounted for ₹2,126
Cr in revenue which was 10% of the total of the company.

EYEWEAR

In 2007, Titan Industries forayed into the style accessories industry with the launch of
sunglasses, an Rs 330-crore market. It introduced Titan Eye+ that has a wide range of frames,
contact lenses, prescription eyewear, & sunglasses. The division accounted for ₹415 crore
in FY 2016-17 maintaining a graph growth of 8%.

JEWELLERY

Xerxes Desai started the brand Tanishq in 1995. Zoya was launched within the luxury
segment, while Mia, a sub-brand was under Tanishq for work-wear jewellery. Titan's total
revenue grew 20.44% in 2017-18 to ₹15,656 crore, of which jewellery sales fetched ₹13,036
crore. In 2016, Titan invested in Carat Lane who reported a turnover of ₹290 crore in FY
2017-18.

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PERFUME

In 2013, Titan launched six variants of perfume within the Indian perfume market under the
name ‘Skinn’. They collaborated with world-renowned perfumers including Alberto Morillas
and Olivier Pescheux.

BRAND INTRODUCTION

Titan is a fashion accessory retail brand in India. The company was launched in 1998 as a
sub-brand of Titan Watches. In 2005, Titan was spun off as an independent brand targeting
the urban youth and growing fashion industry in India.

Titan began opening retail stores throughout the country. The first store opened in 2009.

COMPANY PROFILE

TYPE: Public

INDUSTRY: Fashion Accessories

FOUNDED: 1998

HEADQUATERS: New Delhi, India

AREA SERVED: India

KEY PEOPLE: Suparna Mitra (CMO)

Chiranewala (Head of Marketing)

PRODUCTS: Fashion accessories Watches, Sunglasses, Bags, Belts & Wallets

Titan is India’s foremost youth accessories brand. It is sporty and code. It believes that it's
all about range and delivers just that in almost ungodly quick cycles. The brand stays focused
on its audience and delivers what they need before they even know they need it. Titan is
accessible and owns the playing field. It is not cheap, just affordable. It is not almost fashion
but rather, lifestyle. It doesn't make products that

10
are meant to be collectibles or people who will become heirlooms. It does not just make
watches. It is not the manufacturer of tween gear. Titan accessorizes the youth… it makes
what is their war paint and marks of individualism; it represents, articulates and stands for
all they have to say.

1.5 NEED FOR THE STUDY

Most of the companies want to know about the customer satisfaction level normally.
They had made a huge amount of investment to make the product known to the consumers.
In order to know the effectiveness of sales and consumer behaviour can be made through the
particular survey. If the consumers are not satisfied, they would switch over to the other
products it is very difficult to bring back those consumers to make purchase and encourage
them to make a word of mouth.

1.6 SCOPE OF THE STUDY

 This study aims to find out the satisfaction level of customers towards the titan
watches.
 This study helps to improve the knowledge about wrist watches.

 To know about the brand value in customer’s mind.

 To identify the expectation of titan watch customers.

1.7 OBJECTIVES OF THE STUDY

1.7.1 PRIMARY OBJECTIVE:

 To study about the customer satisfaction level towards the titan

watches.

1.7.2 SECONDARY OBJECTIVE:

 To study about the factors influencing the consumers buying titan

watches.
 To investigate whether the product quality of Titan watches is capable
of addressing all demands made by customer
 To identify the difference between Expectation & Perception of
customers in product quality offered by Titan watches.
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1.8 LIMITATION OF STUDY:

• Watches have become most necessary commodity/services so it was difficult to definite

population in particular size.

• 150 respondents cannot represent the population, as a whole. So, the findings may be
biased.

• Bias response from the customers.

• Limitation of time period.

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 CHAPTER 2

REVIEW OF LITERATURE

2.1 Review of literature

1. Kotler and Keller (2012) said that "satisfaction is a person's feelings of pleasure or
disappointment that result from comparing a product's perceived performance (or outcome)
to expectations". Whereas, customer satisfaction according to Jahanshahi et al. (2011) is
"customer satisfaction is the result of a customer's perception of the value received in a
transaction or relationship - where value equals perceived service quality relative to price
and customer acquisition costs". However, it is in contrast with the research of Tu et al.
(2013) which indicated that "customer satisfaction is viewed as influencing repurchasing
intentions and behaviour, which, in turn, leads to an organization's future revenue and
profits".

2. Crosby, Evan and Cowles (19900 and Kim and Cha (2002) state that customer
satisfaction is defined as an experience based on customer evaluations or evaluations,
namely reality greater than expectations, factors that influence customer satisfaction if
expectations are smaller than reality. then the customer is not satisfied, whereas if the reality
is greater than expectation then said the customer is satisfied.

3. Kotler and Keller (2008) expressed satisfaction is feeling happy or disappointed someone
emerged after comparing between perception on the performance or the results of a product
and hope- Hopes. Satisfaction is a function of perception / impression of the performance
and hope.

4. Kotler and Armstrong (2012) defined that "customer satisfaction is the extent to which
product's perceived performance matches a buyer's expectations." Customer satisfaction
consists of several indicators, namely loyalty, satisfaction, repurchase interest, small desire
to make a complaint, the willingness to recommend the product, and the reputation of the
company (Kotler and Keller, 2012; Nguyen and LeBlanc, 1998).

5. according to Deng et al (2009, 289), Customer satisfaction, is very important part of the
business setup because business generates much revenue from the

13
industry when the customer is satisfied by the services being provided. Customer satisfaction
refers to the customer buying behavior and the utility he obtained using the product. Customer
satisfaction functions in a single manner whereby a customer compares your product with
those of competitors to reach a decision. Therefore, customer ‘s evaluation of products and
services is what customer satisfaction defines in that whether their services are meeting
consumer needs or not. Through customer satisfaction, customer ‘s expectations are assessed
in that they are being satisfied or remain unsatisfied with the quality of goods and services.
Customers, sometimes, are more satisfied in case the product performance goes beyond their
expectation (Kotler 2012).

6. Ngo & Pavelková (2017) Customer satisfaction is the outcome that customers received
when the service they experienced exceed their expectation. In marketing, it is being viewed
as the global evaluation of service experience over time (Lim et al., 2006). Customer
satisfaction is generally known as an outcome of service quality. Numerous studies in
different industries have proved this relationship. For instance, Rod & Ashill (2009),
Szwajca (2018; 2016) and Ngo & Pavelková (2017) in banking, Hussain et al. (2015) in
airline, Srivastava & Sharma (2013) in telecommunication and Saghier (2013) in hotel
industry. Customer satisfaction portrays the quality of products or services provided to the
customer in a positive manner, whereby the level of customer satisfaction enhanced along
with an increased level of service quality (Bilan, 2013; Yeo et al., 2015). In other words, the
more positive customers‘perceived service quality, the better their satisfaction level with the
service provider is likely to be.

7. Blackwell et al. 1995 In accordance with, et al., in their research about Consumer Attitudes
Towards Counterfeit expresses that a review and Extension demonstrated that Price quality,
subjective norm, perceived risk, integrity, and private gratification significantly impacted the
consumers’ attitude towards counterfeit products. Customer satisfaction process (adopted
from (Engel, Blackwell et al. 1995), p. 143- 154, 177). According to the model, the customer
decision-making process comprises a need-satisfying behaviour and a good range of
motivating and influencing factors.

14
8. (Barry, Ann Marie Seward: Visual intelligence, 1997.) In educated societies, the
human brain has been trained to research text during a way that a reader is able to interpret
writing as whatever he or she sees in the meaning of the words by analysing the context in
which the text was written. Through teaching people to read and analyse literature, the
educated society has become more accustomed to picking apart the words they are reading.
That same process, however, doesn't hold true for the human perception of images. Through
societal norms, we've grown familiar with accept images as truth without using an equivalent
analytical process to select apart images within the way we do text. The human perception
of truth in images plays a serious role within 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 goalies to influence the needs or desires of a consumer
with persuasive images.

9. (David S Landes; Revolution in time, 2004). World of your time keeping generally and
mechanical watches especially may be a fascinating and complex field. Highly complex
micro-mechanical systems, the history of development of movements and style trends and
political and private intrigues of industry provide for interesting reading and endless
opportunity for research.

10. (Economic Times, 10 march 2012) Titan’s play within the lifestyle category is
analogous 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 become a full-scale lifestyle
company. The firm's youth brand Titan will drive this transformation, an attempt partly to
make sure that the parent brand Titan is shielded from any risk. Titan is already into watches
and eyewear, and now it's watching categories like bicycles, helmets, shoes and apparel.

11. (Peter Bron; Wrist watch annual, 2004) Every year many wrist watches are
introduced. Some features innovative designs or mechanical improvements and others.
available only in limited editions, keeping the sector interesting for collectors.

15
12. (Times’s magazine, March 2001) Extraordinarily innovative technology including a
fresh sense of favour within the Titan watches became a moment rage especially with youths.
within the Titan portfolio it's believed to contribute a forty-five value. Significant rise in Titan
watches sales has subsequently compelled Titan to determine it as separate brand. quite a
requirement, wristwatch has now become a fashion statement among the youth. They don ‘t
considers the Titan brand as cheap but affordable. Titan has made a mark in television
promotions, too, where its advertisements have been noticed for the music tracks utilized in
them. In 1991, Titan created a set of three promotional films to develop the gifting ‘market.
Watches had always been an excellent gift favourite, but Titan was convinced that much of
the segment ‘potentially untapped.

13. Joseph (2009) Joseph, Labour Welfare in India, Journal of Workplace Behavioural
Health, Volume 24 Issue 1&2, January 2009, pages 221-242. The article points out that the
structure of a welfare state rests on its social security fabric. Government, employers and trade
unions have done tons to market the betterment of workers' conditions.

14. André Decoster (2010), André Decoster, “Empirical Welfare Analysis in Random,
http://papers.ssrn.com/sol3/papers’ abstract=1710486. The aim of this paper is to apply
recently proposed individual welfare measures in the context of random utility models of
labour supply. Contrary to the standard practice of using reference preferences and wages,
these measures preserve preference heterogeneity in the normative step of the analysis.

15. Rick Csiernik Rick Csiernika January 2009, Journal of Workplace Behavioural Health,
Volume 24, Issue 1&2 January 2009, pages 147-164. This article explores labour welfare in
Canada across three distinct periods of occupational assistance: welfare capitalism that
began with the Industrial Revolution and persisted through the depression of the 1930s;
occupational alcoholism programming that emerged during World War II and the typically
unreported domestic labour strife of the 1940s,

16
lasting through the post-war economic boom into the 1960s; and the employee assistance
programming era with the introduction of the broad-brush approach to workplace-based
assistance that also witnessed organised labour in Canada provide fundamental supports to
workers that were originally introduced by workplace owners during the welfare capitalism
period, though now to benefit workers rather than to control.

16. Karl Aiginger Karl Aiginger, (2005) "Labour market reforms and economic growth –
the European experience in the 1990s", Journal of Economic Studies, Vol. 32 Iss: 6, pp.540-
573.The purpose of this paper is to reassess the relative impact of labour market regulation
on economic performance. Inflexible labour markets combined with high welfare costs are
often thought to be the main cause of low growth in Europe. The main result is that regulation
impacts on growth, the impact of regulatory change is, however, less easy to demonstrate.
The impact of macroeconomic policy can be demonstrated first by the more growth oriented
monetary and fiscal policy in the US and the success of some European countries in bringing
private and public costs in line with productivity and tax revenues. However, boosting
investment into future growth by encouraging research, education and technology diffusion
seems to be the most important determinant of performance.

17. John Creedy, Guyonne Kalb 2005 Measuring Welfare Changes In Labour Supply
Models, The Manchester School, Volume 73, Issue 6, pages 664–685, December 2005.The
purpose of this paper is to reassess the relative impact of labour market regulation on
economic performance. Inflexible labour markets combined with high welfare costs are often
thought to be the main cause of low growth in Europe. The main result is that regulation
impacts on growth, the impact of regulatory change is, however, less easy to demonstrate.
The impact of macro- economic policy can be demonstrated first by the more growth
oriented monetary and fiscal policy in the US and the success of some European countries in
bringing private and public costs in line with productivity and tax revenues. However,

17
boosting investment into future growth by encouraging research, education and technology
diffusion seems to be the most important determinant of performance.

18. (Kristensen et al. 2001). CSI National customer satisfaction index model includes a
structural equation with estimated parameters of hidden categories and category
relationships. The CSI can clearly define the relationships between different categories and
provide predictions. The basic CSI model is a structural equation model with latent variables
which are calculated as weighted averages of their measurement variables, and the PLS
estimation method calculates the weights and provide maximum predictive power of the
ultimate dependent variable (Kristensen et al. 2001). Many scholars have identified the
characteristics of the CSI (Karatepe et al. 2005; Malhotra et al. 1994).

19. Temizer and Turkyilmaz 2012TCSI model and service Quality Service quality is
frequently used by both researchers and practitioners to evaluate customer satisfaction. It is
generally accepted that customer satisfaction depends on the quality of the product or service
offered (Anderson and Sullivan 1993). Numerous researchers have emphasized the
importance of service quality perceptions and their relationship with customer satisfaction by
applying the NCSI model (e.g., Ryzin et al. 2004; Hsu 2008; Yazdanpanah et al. 2013; Chiu
et al. 2011; Temizer and Turkyilmaz 2012; Mutua et al. 2012; Dutta and Singh 2014). Ryzin
et al. (2004) applied the ACSI to U.S. local government services and indicated that the
perceived quality of public schools, police, road conditions, and subway service were the most
salient drivers of satisfaction, but that the significance of each service varied among income,
race, and geography.

20. Hooley, T., Neary, S., Morris, M. and Mackay, S. (2015) Customer satisfaction with
career guidance: A review of the literature. London and Derby: SQW and International
Centre for Guidance Studies, University of Derby.

20. Mackay, S., Morris, M., Hooley, T. and Neary, S. (2015) Maximising the Impact of
Careers Services on Career Management Skills: A review of the literature. London and Derby:
SQW and International Centre for Guidance Studies, University of Derby.

18
21. Neary, S., Hooley, T., Morris, M. and Mackay, S. (2015) The Impact of Career
Guidance on Progression in Learning and Work: A review of the literature. London and
Derby: SQW and International Centre for Guidance Studies, University of Derby.

22. Hallam, R., Morris, M., Hooley, T., Neary, S. and Mackay, S. (2015) The role of
brokerage within career guidance: A review of the literature. London and Derby: SQW and
International Centre for Guidance Studies, University of Derby.

23. Meijkamp 2000 For more than a decade now, a range of studies that address
environmentally sound consumer behaviour, e.g. car use, waste sorting, minimisation and
recycling practices, have been conducted. However, few studies evaluated consumer
acceptance of the PSS concept – a consumption based on non-ownership of physical
products, see, for example, studies on car sharing schemes (Schrader 1999; Meijkamp 2000),
ski rental and washing services (Hirschl, Konrad et al. 2001).

24. Weizsäcker, Lovins et al. 1997 As a potential solution to the factor 10/20 vision system
level improvements have to be made, contrary redesigning individual products or processes
(Weterings and Opschoor 1992; Vergragt and Jansen 1993; von Weizsäcker, Lovins et al.
1997; Ryan 1998; Manzini 1999; Brezet, Bijma et al. 2001; Ehrenfeld and Brezet 2001)

25 Bearden and Teelin 1983.customer satisfaction emphasized that achieving high

customer satisfaction co generate more new and repeat purchases and favourable word-of-
mouth communication, which in turn will lead to higher revenue and profits (Tam, 2011).
At early studies, researchers have also found a strong relationship between satisfaction
and loyalty as shown by study by Bearden and Teelin 1983 (Andaleeb & Conway, 2006).
Study by Szymanski and Henard in 2001 in their meta-analysis.

19
 CHAPTER 3

RESEARCH METHODOLOGY

3.1 RESEARCH DESIGN

Research design is the arrangement of conditions for collection and analyse 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.

3.2 STATEMENT OF THE PROBLEM

This study is to analyse the customer perception towards Titan Products by Titan
Industries. The study not only helped find the perception of the consumers but also helped to
obtain suggestions for improvement of the products which will help the Company in
maximizing their profits and expansion of their Company and even create brand awareness.

3.3 SAMPLING TECHNIQUE

I have used non probability sampling and convenience sampling technique.

3.3.1 NON-PROBABILITY SAMPLING

Non probability sampling procedure, which does not afford any basis for estimating
the probability that each time in the population has been include in the sample.

3.3.2 CONVENIENCE SAMPLING

Convenience sampling (also known as availability sampling) is a specific type of non

probability sampling method that relies on data collection from population members who
are conveniently available to participate in study.

3.4 SOURSE OF DATA

3.4.1 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.
20
 3.4.2 SECONDARY DATA

It means that data are already available. It refers to the data that are collected and
analysed by someone else. The data was collected from the websites and journals.

3.5 STRUCTURE OF QUESTIONNAIRE

In this study, the primary data is collected through questionnaire from the respondents
directly and online form. A questionnaire consists of a number of questions printed or typed
in a definite order on a form. Here, open ended and close ended questions; rank order and
rating scale are used in the questionnaire.

3.6 SAMPLE SIZE:

The number of samples chosen was 150 Respondents.

3.7 PERIOD OF STUDY

The period of time taken to conduct the survey and prepare the research
paper is 3 months.

3.8 TOOLS FOR ANNALYSIS

3.8.1 Percentage Method:

Number of Respondents
Percentage of Respondents = --------------------------------------------100.
Total Respondents

3.8.2 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

21
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.

3.8.3 ANOVA:

Analysis of variance is a statistical analysis tool that separates the total variability
found within a data set in to two components random and systematic factors. The
random factors do not have any statistical influences on the given data set, while
the systematic factors do. The ANOVA test is used to determine the impact
independent variables have on the dependent variable in a regression analysis.

22
23
 CHAPTER 5
FINDINGS, SUGGESTIONS AND CONCLUSION

5.1 FINDINGS:

 The project revealed that 55% of the respondents fall under the age group of
Below 25 years.

 69% of respondents are Male.

 The project revealed that 44% of the respondents are Students and 35% of
the respondents are Salaried Employees. This could be because most of the
Students and Salaried Employees fall under the category of Youth, and
almost all of them prefer the brand “Titan watch”.

 This project revealed that 40% of respondent’s monthly income is below

10000.

 75% of the respondents visited titan showroom and 25% of them didn’t visited
showroom

 54% of the respondents are selecting Titan watch for Brand value.

 36% of respondents are came to know about the brand via Advertisement,
and also 30% of the respondents are came to know about the brand via social
network.

 Majority of the respondents 69% are using Titan watch for 0-6 years.

 40% of respondents are never went to repair the watch. This shows the
quality of the watch.

 In recent customer service experience 42% of respondents are contact

representative in person, And 34% of them by Phone.

 In service experience 52% of the respondents says the representatives

Quickly identify the problem of the watch.

24
 30% of the respondents felt that the problem of the watch gets solved by less
than a day to 2-3 days.

 54% of respondents are said that the overall performance of titan watches is
Much better when compared with its competitors like (Casio, Swatch).

 42% of the respondents agree that Titan watch are affordable.

 34% of respondents felt that Product variety is the area Titan should need to
most improvement.

 49% of the respondents agree that style range of the Titan watch.

 45% of the respondents agree that Titan watch are worth for money

 48% of the respondents are agree that advertised collection is available in

the stores.

 46% of the respondents agree that they satisfied with what they bought.

 55% of the respondents are Agree with the overall quality of Titan watch.

 50% of the respondents are agree with their purchase experience.

 53% of the respondents are agree with there usage experience of the Titan
watches.

 54% of the respondents are agree with the purchase service like warranty,
repair etc.

 50% of the respondents said that they Definitely buy Titan watch again.

 50% of the respondents felt that they Probably recommend Titan watches to
others.

 51% of the respondents probably can buy another brand.

25
 Since P value (.242) is greater than 0.05 at 5% level of significance we
accept null hypothesis H0. Hence there is no relationship between
respondents age and price affordability of the watch in chi square.
 Since p value is higher than 0.05, we accept H1 is and reject H0. Therefore,
there is a no significance difference between respondents of repair the
watch and compare with other watches in ANOVA.

26
5.2 SUGGESTIONS

 From the survey it is clear that majority of the customers were young people
and the advertisements, products offered by Titan watches exactly matches
the demand of youth. This makes Titan watches ahead of its competitors

 Their design is good but they have to work on their outlooks.

 Most of the respondents are ready to buy the products of Titan Industries
anytime, so they can come up with more varieties of products.

 Most of the respondents suggested that Titan Industries could come up with
Smart Watch, or a modern version of Pocket Watch as they’re very interested
in buying them.

 Most of the respondents are only Satisfied with the quality of products
manufactured by Titan Industries but not Highly Satisfied, and since Titan is
an International Brand, they can increase the quality of the product by making
it more Premium but at a less price.

 Titan watches must maintain product quality because it is a satisfactory factor

for most of the customers

27
5.3 CONCLUTION

This article was a study conducted to know about the behaviour of the consumer on
titan watches. The study analysed the different aspects of consumer behaviour.
From this study, it is clear that majority of the customers of titan are satisfied about
the brand. The customer think that titan is trendy and unique. We believe, titan can
satisfy its customers more effectively than how they are doing it now by considering
the conclusions generated from this project and adopting the suggestions given by
their customers.

On the growing influence of globalization on the Indian watch industry, variety of

worldwide manufacturers are coming into the Indian watch industry. In such a
dynamic environment Titan got to be more quality conscious since the products
offered are almost similar by all the watch manufacturers in the industry. Titan must
take serious efforts to form itself competitive and graph within the dynamic market
situation by that specialize in the service quality aspects.

28
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33
APPENDIX- I (QUESTIONNIAIRE)
I am doing a project on a customer satisfaction towards Titan watch. The
main purpose of this research is to generate findings and suggestion about the
customer satisfaction towards titan watches.
Their satisfaction level is measured using percentage method.

1. Name

2. Age

o Below 25
o 25-45
o 45-55
o 55above
3.Gender
o Male
o Female
4.Occupation
o Salaried employee
o Business
o Students
o Agriculture
o Others
5. monthly income (per month)
o Below 10000
o 10000-25000
o 25000-35000
o 35000-50000
o 50000 and above
6. have you ever visited titan showroom
o Yes
o N
7. reason for selecting titan watch
o Brand value
o Style
o Prestige symbol
o Others

34
8. you came to know about the brand via
o Ads
o Social network
o Peers
o Family
o Newspaper ads
o Others
9. how long have you been using titan watch
o 0-6 year
o 6-12 year
o 12-18 year
o More than 18 year
10. How many times you went to repair the watch
o Never
o One time
o Three times
o More than three times
11. In your most recent customer service experience how did you contact the
representative?
o In person
o By phone
o Through retailer/dealer
o Others
12. Did the representative
o Quickly identify the problem
o Appear knowledgeable and competent
o Help you understand the cause and solution to the problem
o Handle issue with courtesy and professionalism
13. About how long it takes to get this problem resolved?
o Immediate resolution
o Less than a day
o 2-3 days
o More than a week
o Problem is still not resolved
14. Compared to other brands like (Casio, Swatch) Titan is
o Much better
o Somewhat better
o About the same
o Somewhat worse
o Much worse

35
15. Titan watches are affordable
o Strongly agree
o Agree
o Neutral
o Disagree
o Strongly disagree
16. Which area do you think needs the most improvement?
o Product Variety
o Prices
o Offers
o Quality
o Advertising
o Service
17. Put tick mark for your choice
Strongly agree neutral disagree Strongly
agree disagree
Style range
is good
It is worth
for money
Advertised
collection
Satisfied
with what I
paid for
what I
bought

18. Titan is excellent for the following

Strongly agree neutral disagree Strongly
agree agree
Overall
quality
Purchase
experience
Usage
experience
After
purchase
service

36
19. Put tick for the applicable ones

definitely probably Probably Definitely

not not
Buy titan
watch again
Recommend
others to buy
titan watch
Will buy
another brand

37
 APPENDIX-II (ARTICLE)

A STUDY ON CUSTOMER SATISFACTION TOWARDS TITAN

WATCHES

VISHAL T

MBA Student, Sathyabama Institute of Science and Technology, Chennai

KUMAR. N

Assistant Professor, School of Management, Sathyabama Institute of Science and

Technology, Chennai

ABTRACT:

Customer satisfaction is an important component of the Marketing function and it

are often simply defined the number of consumers, or percentage of total customers,
whose reported experience with a firm. With more companies changing customer
centric, customer satisfaction levels are measured for its improvement are done by
the businesses. The focus of this study is to understand knowledge about the varied
kinds of titan brand, factors influencing the consumers to prefer a selected brand
and thus the issues faced by them on using such brands. For the aim of obtaining
the data, questionnaire method is used. Suitable tools are exploited to urge scientific
evidence and further suggestions useful for the industry have also been presented.

KEYWORDS: Customer, satisfaction, titan watches

1. INTRODUCTION

Marketing is getting more and more customer centric with all the large brands that
concentrate on what customer needs and what satisfies their customers more. In
such a customer focused business world, studying the customer satisfaction has
become necessary for all the businesses and industries. Surveying the purchasers
regularly and through a kind of the way could also be a critical a part of running a
successful business, regardless of your industry, product or service. Customer
satisfaction is known as how individual customers, groups, or organizations, use
and dispose ideas, goods, and services to satisfy their needs and wishes. It refers
38
to the action of consumers within the market place and underlying motives for those
action. Marketers expect that by understanding what cause the consumers to buy
for particular goods and services, they go to be able to determine which products
are needed within the, market place, which are obsolete, and thus the way best to
present the products to the consumers

2. SCOPE OF THE STUDY

The research pertains to finalize this consumer preference of watch within the study
with special reference to titan watches in Erode region. The study helps to
understand knowledge about the various sorts of titan brand, factors influencing the
consumers to prefer a selected brand and thus the issues faced by them on using
such brands. The consumers while making preference decisions are influenced by
external, internal factors and factors like product features, quality, price then On.

3. REVIEW OF LITERATURE

David S Landes; Revolution in time, 2004 World of some time keeping generally and
mechanical watches especially could also be a desirable and sophisticated field.
Highly complex micro-mechanical systems, the history of development of
movements and elegance trends and political and personal intrigues of industry
provide for interesting reading and endless opportunity for research.

Economic Times, 10 march 2012 Titan's play within the life-style category is
analogous to what US watch and accessory brand Fossil did diversifying into
eyewear, handbags, jewellery, shoes and apparel (in some geographies). The firm's
youth brand Fastrack will drive this transformation, an effort partly to form sure that
the parent brand Titan is shielded from any risk. Fastrack is already into watches
and eyewear, and now it's watching categories like bicycles, helmets, shoes and
apparel. Barry, Ann Marie Seward: Visual intelligence, 1997 In educated societies,
the human brain has been trained to research text during how that a reader is in a
position to interpret writing as whatever he or she sees within the meaning of the
words by analysing the context during which the text was written. Through teaching
people to read and analyse literature, the educated society has become more
conversant in picking apart the words they're reading. that exact same process,
however, doesn't hold true for the human perception of images. Through societal
norms, we've grown conversant in accept images as truth without using the same
39
analytical process to pick apart images within the way we do text. The human
perception of truth in images plays a significant role within the modern-day trend of
manipulating photographs. during this increasingly digital age, photographs are
often manipulated to portray an illusion of no matter the manipulator wants the image
to be. this may be especially prevalent in print advertising, where the foremost goal is
to influence the wants or desires of a consumer with persuasive images.

Peter Bron; Wrist watch annual, 2004 per annum many wrist watches are
introduced. Some features innovative designs or mechanical improvements et al.
available only in limited editions, keeping the world interesting for collectors.

4. OBJECTIVES

To review about the factors influencing the consumers buying titan watches. To
research whether the merchandise quality of Titan watches is capable of addressing
all demands made by customer* to spot the difference between Expectation &
Perception of consumers in product quality offered by Titan watches.

5. METHODOLOGYRESEARCH DESIGN

Research design is that the arrangement of conditions for collection and analyse of
data during a scientific manner that aims to combine relevance to research purpose
with economy in procedure. The research study applied here is merely descriptive.

6. STRUCTURE OF QUESTIONNAIRE

During this study, the first data is collected through questionnaire from the
respondents directly and online form. A questionnaire consists of variety of
questions printed or typed during a definite order on a form. Here, open ended and
shut ended questions; order and rating scale are utilized in the questionnaire.

SAMPLE SIZE: the number of samples chosen was 150 Respondents

7. RESULT

7.1 CHI SQUARE ANALYSIS

40
 Chi square analysis of respondents age and comparing with the Titan
watch affordability.

Hypothesis:

H0 – there's no relationship between respondents age and therefore

the price affordability of the watch

H1 – there's relationship between respondents age and price

affordability of the watch.

Case Processing Summary

Cases

Valid Missing Total

Percen
N Percent N Percent N t
scale1 * 7 100.0% 0 0.0% 7 100.0%
scale2

Chi-Square Tests
Asymptotic
Significance
Value df (2-sided)
Pearson Chi-Square 35.000a 30 .243
Likelihood Ratio 24.470 30 .750
Linear-by-Linear .759 1 .384
Association
N of Valid Cases 7
a. 42 cells (100.0%) have expected count less than 5.
The minimum expected count is .14.

Interpretation:

Since P value (.242) is bigger than 0.05 at 5% level of significance we accept null
hypothesis H0. Hence there's no relationship between respondents age and price
affordability of the watch.

8. FINDINGS

41
  The project revealed that 55% of the respondents fall under the age group of
Below 25 years.

 69% of respondents are Male.

 The project revealed that 44% of the respondents are Students and 35% of
the respondents are Salaried Employees. This could be because most of the
Students and Salaried Employees fall under the category of Youth, and
almost all of them prefer the brand “Titan watch”.

 This project revealed that 40% of respondent’s monthly income is below

10000.

 75% of the respondents visited titan showroom and 25% of them didn’t visited
showroom.

 Since P value (.242) is greater than 0.05 at 5% level of significance we

accept null hypothesis H0. Hence there is no relationship between
respondents age and price affordability of the watch in chi square.
 Since p value is higher than 0.05, we accept H1 is and reject H0. Therefore,
there is a no significance difference between respondents of repair the
watch and compare with other watches in ANOVA.

9. SUGGESTIONS

From the survey it's clear that majority of the purchasers were children and therefore
the advertisements, products offered by Titan watches exactly matches the demand
of youth. This makes Titan watches before its competitors*

Their design is sweet but they need to figure on their outlooks.

Most of the respondents are able to buy the products of Titan Industries anytime, in
order that they can come up with more sorts of products.

Most of the respondents suggested that Titan Industries could come up with Smart
Watch, or a contemporary version of watch as they’re very curious about buying
them

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 10. CONCLUTION

This article was a study conducted to know about the behaviour of the customer on
titan watches. The study analysed the varied aspects of consumer behaviour. From
this study, it's clear that majority of the purchasers of titan are satisfied about the
brand. The customer think that titan is trendy and unique. We believe, titan can
satisfy its customers more effectively than how they're doing it now by considering
the conclusions generated from this project and adopting the suggestions given by
their customers

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