Wrist Watch Buying Behaviour among Youngsters in Nagpur City

As the technology growing from industry 1.0 to 4.0, changes have been observed in the watch industry too. Wrist watch which is used to track the time, now its usability and value grows far from that. This industry realizes the changing pattern, preferences and demand of the customers. Customization arrived to cater the needs of different customer segment. Today brands are coming with the combination of technology, innovation and fashion. Traditionally watch industry focuses on male customers, now it is expanding and appealing to women equally. For women many brands have reduced the efforts to make choice between jewelry and gadgets as wrist watches fulfilling both the criteria. Today wrist watch shows time as well as classic style, fitness, daily activity tracker, colories burnt, distance covered, sending emails, sms, GPS Location etc. In Indian market there are many Indian brands, international brands as well as local made watches too. Indian Brands and international brands have created their own image in to the minds of customers. Their positioning strategy varies from segment to segment of the customers. This research paper makes an attempt to find out how these strategies affect the youngsters? What they prefer? What factors affects on their buying decisions? How feature based watches, look based watches impacts on buying decisions of youngsters?

1. To investigate the buying decision of youngsters for wrist watch. 2. To identify the factors impacting on their buying decision of wrist watch. 3. To investigate the most preferred brands in wrist watch.

research papers, websites, blogs and reports as follows. I. Dr. M. Gurusamy 2 Find out that wrist watches need to take more efforts to improve the quality of wrist watches so they can match it with customer‘s expectations. Target customers and promotion efforts with the target customers should go parallel for effective integrated marketing communication plan. Service, quality, brand, look, asthetic all these factors had an impact on buying decisions pf the customers. II. Nelsa Yuspita Dewi 3 Examined that Price plays an important role in wrist watch preference. As well as Brands, additional features, Strap materials, and movements plays an important role determining wrist watch preferences. Wrist watch preferences were observed affected by demographic factors like gender, occupation etc. III. Anita N. Halamata4 Researchers objective behind this study was to identify Titans market share, customer satisfaction, brand loyalty and factors affecting buying behavior. Result shows that promotion of the Titan has a great influence on the consumer‘s preference towards titan watch. Suggestion has been given by the researcher that titan should produce separate good and attractive watches for kids and sports. IV. Dr. Josephine Lourdes De Rose5, Reveals the attributes preferred by the consumers while they buy the wrist watch. Conjoint analysis was performed to find out the attributes. Study identifies that price given the highest importance followed by multifunctional watches, look, style and brand of the watch. V. Indian Consumer Market6 Report identifies the characteristics of Indian consumer market. Wrist watches are one of the important products of Indian consumer market. Report found that there is a continuous growing

2Dr.M.Gurusamy, ―A Study On Consumers‘ Behaviour Towards Wrist Watches In Paavai Educational Institutions At Namakkal‖, IJARIIE-ISSN(O)-2395-4396 7542 3 Nelsa Yuspita Dewi, ―Understanding Consumer Preference towards Wristwatch Buying Decision through its Product Attributes: A Study of Indonesian Consumers‖, International Bachelor of Economics and Business Economics The Netherlands 4 Anita N. Halamata, ―Consumer Behaviour and Brand Preference of Titan Watches – An empirical study with reference to Haveri District, Karnataka.‖, IOSR Journal of Business and Management (IOSR-JBM) ISSN: 2278-487X. Volume 7, Issue 1 5 Dr. Josephine Lourdes De Rose , ―A Review on the Factors Contributing to the Selection of a Wrist Watch using Conjoint Analysis‖, ISSN: 2321-7782 (Online). 6 https://www.ibef.org/industry/indian-consumer-market.aspx

durable market has got the significant investment over the years.

To conduct this study , quantitative and Descriptive research approach was used. Inferences drawn on the basis of primary as well as secondary data collection. Analysis was done with different quantitative techniques. Findings were drawn on the basis of observation from the analysis.

• Primary Data Collection:- Primary data was collected through structured questionnaire. One to one approach was adopted to collect the data from the respondents.

• Secondary Data:- Secondary data was collected through Journals, Research Papers, and from different websites.

Area Sampling technique is used in the research. Respondents were approached according to location of colleges, retail brand store etc. Through these locations, respondents were selected randomly. Sample size study was 142 respondents filled up the complete questionnaire. Total 200 respondents approached. ► Analysis:- Analysis was done with the help of Microsoft Excel and SPSS software

H1:- ―Occasion and buying wrist watch has a significant association‖ H2:- ―Price, Brand, Look impacts on wrist watch buying decision of the customers‖.

Data analysis done with the help of Microsoft Excel and SPSS 20 software. Charts and Graphs done with the help of Excel and statistical tools to test the hypothesis was done through SPSS. Results are as follows. Null Hypothesis: ―Occasion and buying wrist watch doesn‘t have any association‖

Chi-square test is applied to check the association between buying of wrist watch and impacts of any particular occasion. Some major occasions were included in the list. From the chi-square test it has been observed that Birthday (0.000), Any Academic achievements (0.000) and festivals (0.000) had a great association as compared to other factor such as Anniversary, Sports achievement etc. Out of the seven occasions in the list, five occasions found associated with the wrist watch buying decision. Hence above statistics does not support the null hypothesis and accepts the alternative hypothesis. Hence “Occasion and buying wrist watch has a significant association” is accepted.

From the table it has been observed that p-value of Price (0.006), Brand (0.0003), and Look (0.042) is less than 0.05 at 95% significance level. Other factor i.e. Style, Color, and Quality were observed less associated and had less association. Design factor which was not including in the hypothesis was observed strong association with buying behavior. Hence above statistics supports the hypothesis statements and rejects the null hypothesis. Hence Alternative hypothesis is accepted.

• Study finds that in demographic factors out of 142 respondents 87 respondents were from the age group 20 to 25, and remaining were observed from the age group 25 to 30.

• Study finds 77 respondents were male and 65 respondents were female.

• It has been observed that 103 respondents were college going students and 39 respondents were working professionals.

 During interaction with working professional respondents it has been observed that during ―Raksha-Bandhan” festival both brother and sisters gives wrist watch gift to vice-versa.

• Brand, Look, design, Price has a significant impact on preference of wrist watch.

Current study had a scope to study the buying behavior and preferences for wrist watch in Nagpur city which is the sub capital of State Maharashtra. Study concludes that in India certain occasions has a great importance and has a great impact on buying decisions of durable products like wrist watch. Especially youngsters in India has multiple of occasions when they can buy the wrist watch as well as demographic factors and attributes of wrist watch also significantly associated with the buying decision of wrist watch among youngsters.

1. Dr. M. Gurusamy: ―A Study On Consumers‘ Behaviour Towards Wrist Watches In Paavai Educational Institutions At Namakkal‖, IJARIIE-ISSN(O)-2395-4396, pp. 7542. 2. Nelsa Yuspita Dewi: ―Understanding Consumer Preference towards Wristwatch Buying Decision through its Product Attributes: A Study of Indonesian Consumers‖, International Bachelor of Economics and Business Economics the Netherlands. 3. Anita N. Halamata: ―Consumer Behaviour and Brand Preference of Titan Watches – An empirical study with reference to Haveri District, Karnataka.‖, IOSR Journal of Business and Management (IOSR-JBM) ISSN: 2278-487X. Volume 7, Issue 1 4. Dr. Josephine Lourdes De Rose, ―A Review on the Factors Contributing to the Selection of a Wrist Watch using Conjoint Analysis‖, ISSN: 2321-7782 (Online). 5. https://www.ibef.org/industry/indian-consumer-market.aspx 6. https://www.kenresearch.com/consumer-products-and-retail/luxury-goods

Assistant Professor, P.E. Society, Institute of Management and Career Development, Nigdi, Pune sudarshan.pawar5@gmail.com