Consumer Bebaviour on Wrist Watch with Respect to College...

CONSUMER BUYING BEHAVIOUR OF WRIST WATCHES WITH RESPECT TO COLLEGE STUDENTS CHAPTER: 1 1.0 INTRODUCTION: Wrist watches form an integral part of the personality of individuals in the present era. Earlier seen as a luxury item, they are now witnessing a fundamental change in perception, and are now gaining respect as an essential utility item. For the watch industry, time seems in its favour what with the liberalization of the Indian market coupled with the rising purchasing power of the young and consumerist Indians. Indian watches market was for long dominated by public sector organisations like Hindustan Machine Tools Ltd. (HMT). But now it is being dominated by private sector enterprise like Fast track, Titan, Sonata, Rolex, Timex,†¦show more content†¦1.5 LIMITATIONS OF THE PROJECT: * Only college students were chosen. * Primary data is limited to questionnaire. * Some of the respondents being rarely interested gave some rough ideas for the sake of answering. * Due to paucity of time it was impossible to know the interest of large number. * Questionnaire understanding. CHAPTER : 2 2.0 REVIEW OF LITERATURE: 2.1 IN DETAIL ABOUT INDUSTRY: India is an under penetrated market for watches. Only 27% of Indians own a watch. Total estimated volume as per 2008 is 44 million units and value of Rs 2700 crores. Vast proportion of Indaian market is below Rs 500 by about 68%. The market share of Indian watch industry 2009 market has been split into: * Low end * Mass market * Premium and luxury brands 50 million wrist watches are sold in India every year. Notwithstanding the presence of global players and the opening up of the market, the Indian market has always been dominated by a single player. In the past, till the late 80’s in the mechanical era, HMT dominated the market. And after that it has again been the domination of a single congrats, Titan had almost 65% market share of the organized watch market in the country. The organized watch market itself is estimated at 35% of the total industry size. In value terms, the size of the organized market is estimated at around Rs 1500 crores, which means that the average price of watches sold even today is less than Rs 1000. 2.2 WATCH