Consumer Behavior

Under the guidance of Ms.Ritu Malhotra

karishma yadavBy: Nikhita Fatehpuria Nishtha Agarwal Chikky Jain Karishma Yadav

Table of Contents
INTRODUCTION .................................................................................................... 3
Area Of Research ................................................................................................................................................ 3

Objective .............................................................................................................. 3 LITERATURE REVIEW ............................................................................................. 4 RESEARCH METHODOLOGY ................................................................................... 6

Type of Research................................................................................................................................................. 6 Research Design Technique ............................................................................................................................ 6 Methods of Research ........................................................................................................................................ 6 Data used .............................................................................................................................................................. 7 Sampling technique used ................................................................................................................................. 7

Results & observations........................................................................................ 10 Conclusion .......................................................................................................... 57

INTRODUCTION
Area Of Research The focus of the survey is to analyze the consumer behaviour amongst luxury watch wearers in the city of Kolkata. The research studies the consumer behaviour of luxury watch wearers in Kolkata, in terms of their attitude, brand loyalty, perception, their price sensitivity and buying behaviour, frequency of wearing watches and reference group.

OBJECTIVE Primary To study the consumer behaviour of luxury watch wearers in Kolkata

Secondary To study the preference of luxury watch wearers in Kolkata. To study consumer preference, buying behavior, attitude and perception.

LITERATURE REVIEW
Luxury unlimited by Bhakti Chuganee (june 2006) (page 56-60) There was a time when society ladies, CEOs and the well heeled went abroad for shopping. Paris today is Palika Bazaar in New Delhi or Heera Panna in Mumbai. Actually that's not quite right. You don't have to depend on the smuggled stuff any more. The makers of luxury goods have officially flocked to India. You can find up market outlets dotted all over metro landscapes. Says Patrick Normand, managing director of Cartier (Middle East & South Asia): The growth of India as a luxury products market, and its emerging potential is very obvious now especially as the economy is booming and there is a general positive sentiment towards global brands. According to a study by the Discovery division of Mumbai- based O&M advertising, India and China are beginning to contribute in a big way to the global market for luxury products. This global market was estimated at approximately $69.4 billion in 2003 and is expected to grow 42 per cent to reach $100 billion by 2008. A Technopak study puts the Indian luxury market at around $444 million. According to the World Wealth Report 2005 published by Capgemini and Merrill Lynch, the so-called BRIC nations - Brazil, Russia, India and China emerge as an economic force and create wealth in the process. In fact, China is expected to slow down and its neighbours are likely to feel the pinch. One exception is India, qualifies the report. In terms of numbers, O&M says there were 61,000 high net worth individuals (HNIs) in India in 2003. The World Wealth Report puts HNI growth in India at 14.6 percent per annum, nearly double the global rate. With the recent stock market boom, this is likely to be much higher. More than the numbers, it's the attitude that has changed. The Indian consumer no longer minds paying a premium for quality, says Yohan Poonawala, chairman & managing director of Poonawala Fashions. It makes practical sense to bring international fashion to India.What's available today ranges from Porsche cars, Pershing yachts, Louis Vuitton bags and suitcases, to Bang & Olufsen audio systems. And of course, the numerous clothes brands Moschino, Cavalli, Ermenegildo Zegna and Dolce & Gabbana (D&G), to name a fewellery ever made.

The IT revolution, and the consequent demand for Indian brainpower, has created a whole new breed of wealthy global Indians. At the other end, an increasingly open economy has created new business opportunities, which has resulted in a slew of new, extremely successful first generation businessmen. They are millionaires. They spend. They sport Vertu mobiles. But they may not even be comfortable with English. All of a sudden, wealth is no longer the preserve of the elite. This article is based on scope and growth of luxury brands in India. Thus deriving from this, our market study is to understand the scope of fashion luxury brands in Kolkata. This article traces the entry of luxury brands such as Cartier in India as early as 1911. It specifies the top sectors of luxury brands in India, the current luxury market scenario, its boom and various statistics. Similarly, our study will be based on Kolkata consumer base, and whether the Kolkata market is ready for luxury brands in the fashion sector. The study will also divulge the present and potential consumers for these brands. It will also highlight their expectations from these brands in the fields of customer service and customer satisfaction.

RESEARCH METHODOLOGY
The project design shall be based on principles of Exploratory Research Techniques. Type of Research Quantitative Quantitative research is based on measurement / quantification of the phenomenon under study. In other words, it is data based and hence more objective and more popular. Hence well do market analysis using Statistical tools: SPSS software, version 17.0. Research Design Technique Exploratory It focuses on the discovery of ideas. It is preliminary investigation, which does not have a rigid design. We are using exploratory technique to explore the opportunity for luxury watch market in Kolkata. Methods of Research Survey It can be defined as Specification of procedures for gathering information about a large number of people by collecting information from a few of them. (Black and Champion). By surveying data, information may be collected by observation, or personal interview, or mailed questionnaires, or administering schedules or telephone enquiries. We will carry the survey through personal interviews, mailing questionnaires, and through social network sites.

Data used Primary May be obtained from individuals, from families representatives, or from organizations. Primary data will be collected through questionnaires answered by respondents in the sample frame.

Sampling technique used Probabilistic sampling

Each element in the population has a known and equal probability of selection. Each possible sample of a given size (n) has a known and equal probability of being the sample actually selected. This implies that every element is selected independently of every other element.

Using probabilistic sampling technique, we will select a population frame that will include actual and potential customers both male and female residing in Kolkata.

Sample size: 50 respondents Sample frame: customer database of luxury watch boutiques in Kolkata Sample unit: Male and Female residents of Kolkata of the age of 20 years and above

Dear Respondent, As part of an academic research it is aimed to collect the consumer behaviour for luxury watch brands owned by you. You are requested to spend some of your valuable time to respond following questions about the brand of watch you wear. Name: Age: a) below 25 b) 25-35 c) 35-45 d) above 45 Occupation: a) business b) professional c) self employed d) student e) others Income (per annum): a) below 10 lakhs b) 10- 20 lakhs c) above 20 lakhs Gender: Marital status: 1) Which brand of watch do you wear? a) Rolex b) Omega c) Cartier d) Tag Heuer e) others (please mention) 2) How frequently do you wear the watch? a) Daily b) social gatherings c) very special occasions 3) Why did you purchase this brand? a) Goes with your personality b) It is a status symbol c) for its fine design d) someone you know owns it 4) If the brand you own comes up with a new range would you like to own one of them? Yes No Maybe 5) What is the feature that attracts you the most? a) Dial b) strap c) jewel d) chronograph 6) If the price of the owned brand falls, it will affect your purchase decision Strongly 1 2 3 4 5 6 7 Strongly disagree agree 7) If you have more options in the luxury watch category, it will affect your purchase decision Strongly 1 2 3 4 5 6 7 Strongly disagree agree 8) The celebrity associated with the brand affects your purchase decision Strongly 1 2 3 4 5 6 7 Strongly disagree agree 9) I never buy a luxury brand inconsistent with the characteristics with which I describe myself. Strongly 1 2 3 4 5 6 7 Strongly disagree agree 10) When in a bad mood, I may buy luxury watch brands as self-given gifts for alleviating the emotional burden. Strongly 1 2 3 4 5 6 7 Strongly disagree agree 11) I can enjoy luxury watch brands entirely on my own terms no matter what others may feel about them.

Strongly disagree

Strongly agree

13) Before purchasing a product it is important to know what kinds of people buy certain watch brands. Strongly 1 2 3 4 5 6 7 Strongly disagree agree 14) I tend to pay attention to what others are buying. Strongly 1 2 3 4 5 6 disagree I think investment in a luxury watch is worth its retail price Strongly 1 2 3 4 5 6 disagree 7 Strongly agree Strongly agree

For me, I am willing to pay a premium price for limited edition luxury watch. Strongly 1 2 3 4 5 6 7 Strongly disagree agree I have less desire towards luxury brand watches when mass quantities of people consume the same products as me. Strongly 1 2 3 4 5 6 7 Strongly disagree agree 16) While purchasing a gift worth Rs. 50000 or above, will watch be one of your preferred choice? Yes No May be

*Thank you for your time & patience*

Results & observations

18 respondents have answered that if the price of the brand falls, it will affect their purchase decision, thus showing that they are price sensitive and the brand loyalty amongst them is not that strong. The average score amongst them is 1.611, which shows that they agree to the statement strongly. But 25 respondents have disagreed to the statement, proving that they are price sensitive, while the average is 6.44, which shows that most of them strongly disagree with the statement.

30 respondents have answered that if there are more brand options in Kolkata their purchase decision would be affected, showing that the brand loyalty amongst them is not that strong. Given the option of other brands, they would not purchase the current brand. The average score amongst them is 1.7, which shows that they agree to the statement strongly. But 18 respondents have disagreed to the statement, proving that they are brand loyal, and their purchase decision would not depend on the number of brands available, while the average is 6.67, which shows that most of them strongly disagree with the statement.

Only 5 respondents agree that celebrity associated with the brand affects their purchase decision, with an average of 2.6, which is low. 44 respondents disagree to the statement and 2 are neutral to it, with an average of 6.727, thus showing that the degree of disagreement is strong. Thus proving, that majority of the consumers are not affected by the celebrity endorsing the brand.

31 respondents, buy watches according to their characteristics, with an average score of 1.5483, thus showing that they strongly agree with the statement. While 18 respondents disagree with the statement, with an average score of 6.5, which shows that the are affected by other factors apart from their own personality while making purchase decisions.

Only 8 respondents, agree to the statement that they buy watches when in a bad mood, with an average score of 2.375, which shows that mood does not play a major

role in making purchase decisions. While 40 respondents disagree with it, with an average of 6.9, which is relatively very high. Thus showing that purchase decision of watches in independent on the mood.

41 respondents agree with the statement that they enjoy luxury watches without much consideration of what others think, with an average score of 1.3, thus showing a relatively high agreement with the statement. While 4 respondents disagree to the statement, with an average score of 6.75, thus proving that majority of the respondents are not affected by others opinions.

17 respondents agree to the statement that before purchasing it is important to know what sorts of people buy what products, with an average score of 1.8, thus showing that pre purchase knowledge is low amongst the consumers. While 32 respondents disagree with the statement, with an average of 6.8.

10 respondents agree with the statement that they pay attention to what others are buying, with an average of 2.2, which is quite low and 36 respondents disagree with the statement, with an average of 6.6388. thus showing that majority of the consumers are not influenced by reference group- such as society, their family, friends etc.

29 respondents consider investment in a watch is worth is retail price, with an average score of 1.449, which is a high score. While 18 respondents disagree with the statement, with an average score of 6.611, thus proving that majority of the respondents consider it to be good investment, which could be a major driving force behind purchase of luxury watches.

22 respondents are willing to pay premium price for a limited edition, with an average score of 1.863, thus showing that they are price insensitive, and they wish to get a product which is not very easily available, while 25 respondents with an average score of 6.4 are not willing to pay a premium price for such a product.

32 respondents have less desire to purchase a product which is consumed in mass quantities, thus the feeling of exclusivity is a major driving force behind their purchase, while 15 respondents with an average of 6.4 are not impacted by this. Thus showing that their purchase decision is not based on how many people purchase the product, but on other intrinsic factors. 41 respondents, consider watch to be a good product for gift while 4 do not. The average of former is 1.7 while that of latter is 6.5. The overall study of the respondents with age income group and gender depicts the following information about the purchase of luxury watches.

agewise distribution of sample 1 22% 5 29% 2 25% 4 18% below 25 25-30 31-35 36-40 above 40 19 9 12 5 6

1 2 3 4 5

3 6%

agewise distribution of sample

occupation wise distribution of sample business homemaker profession self employed student 11 13 3 9 15

1 21%
1

3 63%

2 16%

Occupation wise distribution of sample

incomewise distribution of sample below 10 lakhs 10-20 lakhs above 20

3 12%

11 8 32

2 37%

1 51%

1 2 3

Income wise distribution of sample

3 12%

genderwise distribution of sample female 25 male 26

2 37%

1 51%

1 2 3

frequency distribution of sample daily social gatherings special occassions 26 19 6

Gender wise distribution of sample

4 2%

3 27%

fine design status symbol personality I like the brand 1 47%

1 2 3 4

24 12 14 1

Which attribute stimulates the purchase of a brand.

2 24%

1 25%
1 2

3 57%

If the brand came out with a new range what would be the purchase

yes maybe no

13 9 29

2 18%

4 16%
1

What feature of a watch attracts the most

dial strap jewel chronograph

30 4 9 8

3 17% 2 8%

1 59%

3 4

3 16%

1 35%

1 2 3

Will the fall in price of the owned brand affect the purchase decision.

purchase decision will be affected neutral purchase decision will not be affected

2 49%

3 6% 2 35% 1 59%
1 2 3

will more options in the luxury watch category, affect the purchase decision

purchase decision will be affected neutral purchase decision will not be affected

3 4% 1 10%
1 2 3

Does celebrity associated with the brand affects the purchase decision

celebrity affects purchase celebrity does not affect purchase neutral

2 86%

3 4%

purchase according to characteristics purchase not according to characteristics neutral

1 2

2 35% 1 61%

Does the characteristics of the brand should describe you

2 8%

3 12%
1 2 3

Does others opinion about the brand affects the choice of purchase.

dont care about what others think care about what others think neutral

1 80%

3 4%

knowledge before purchase is required knowledge before purchase is not required neutral 1 33%

1 2

Is knowledge about the brand and the customers associated relevant

2 63%

3 10%

1 20%
1 2 3

pay attention to what others are buying dont pay attention to what others are buying neutral

If the purchase is affected by what others urchase

2 70%

3 8%

2 35%

Is the investment worth

investment in watch is worth its retail price investment in watch is not worth its retail price neutral

1 57%

2 3

4 0% 3 8% 1 43%

willing to pay for limited edition not willing to pay for limited edition neutral

Does limited edition watches attracts the customers

1 2 3

2 49%

3 8% 2 29% 1 63%
1 2 3

less desire to buy when mass quantities is purchased no less desire to buy when mass quantities is purchased neutral

2 8%

3 12%
1 2 3

I would gift a watch I would not gift a watch neutral

41 4 6

How many would gift a watch

1 80%

3 6%

1 16%
1 2 3

I purchase watches when in bad mood I dont purchase watches when in bad mood neutral

If the purchase of a brand elevates the bad mood or sad emotions

2 78%

OBSERVATION DERIVED FROM FEMALE RESPONDENTS

occassio ns 16%

daily 36%

daily social gatherings

when asked how frequently they wear watch 36% females wears it daily 48% on social gatherings 16% only for occasions.

social gatheri ngs 48%

occassions

personal ity 24%

I like the brand 4%

fine design fine design 44% status symbol personality I like the brand

status symbol 28%

when asked about which attribute attracts them most , the design attractd the most followed by the status symbol and then then the personality and brand preference.

yes 32% no 60% maybe 8% yes maybe no

If the brand preferrd by the respondents came out with a new range then 60% aint sure about repurchase whereas 32% would go for it.

jewel 28%

chronogr aph 0% dial dial 68% strap jewel chronograph

Dial came out to be one of the most attractive feature followed by studs n jewels for females, whereas straps and chronographs do not attract women purchase much

strap 4%

purchase decision will not be affected 32%

purchase decision purchase will be decision will be affected affected 48% neutral

With the fall in price of the preferred brand for majority purchase decision is affected whereas many remains neutral

neutral 20%

purchase decision will not be affected

purchase decision will not be affected 28%

purchase decision will be affected neutral

More categories in luxury brands would affect the purchase decision majorly and for few it wont.

neutral 0%

purchase decision will be affected 72%

purchase decision will not be affected

neutral 8%

celebrity affects purchase 20%

celebrity affects purchase celebrity does not affect purchase neutral

Celebrity association does not affect the purchase for a particular brand to a large extent whereas 20% are influenced by it

celebrity does not affect purchase 72%

neutral 4%

72% females purchase is based on the characteristics of the brand whereas 24% are not affected by it
purchase according to characteristics purchase not according to characteristics

purchase not according to characteri stics 24%

purchase according to characteri stics 72%

neutral

care about what others think 8%

neutral 4%

dont care about what others think care about what others think

When purchasing only 8% care about otheres approach whereas 88% consider other factors then what people around might think

dont care about what others think 88%

neutral

neutral 12%

knowledg e before purchase is required 40% knowledge before purchase is required knowledge before purchase is not required

For 48% knowledge about the brand is not required whereas 40% believe in knowing about the brand.

knowledg e before purchase is not required 48%

neutral 12%

pay attention to what others are buying 24%

pay attention to what others are buying dont pay attention to what others are buying neutral

Many females do not really care what people around buy , there is an independent decision whereas 24% do notice the purchasing around.

dont pay attention to what others are buying 64% neutral 0%

investment in watch is worth its retail price investment in watch is not worth its retail price neutral

When asked if the the investment worth its retail proce 72% strongly believe it is whereas 28% feel less about the worth

investmen t in watch is not worth its retail price 28%

investmen t in watch is worth its retail price 72%

OBSERVATIONS DERIVED FROM MALE RESPONDENTS

social occassions gatherings 8% 28% daily daily 64% social gatherings occassions

Q1when asked how frequently they wear watch 36% females wears it daily 48% on social gatherings 16% only for occasions.

personalit y 35%

I like the brand 0% fine design 50% fine design status symbol personality I like the brand

Q2.when asked about which attribute attracts them most , the design attractd the most followed by the status symbol and then then the personality and brand preference.

status symbol 15%

no 54%

yes 19% maybe 27%

yes maybe no

If the brand preferrd by the respondents came out with a new range then 60% aint sure about repurchase whereas 32% would go for it.

chronogra ph 31% dial 50% dial strap strap 8%

dial came out to be one of the most attractive feature followed by studs n jewels for females, whereas straps and chronographs do not attract women purchase much

jewel 11%

purchase decision will be affected 23%

purchase decision will be affected neutral

With the fall in price of the preferred brand for majority purchase decision is affected whereas many remains neutral

purchase decision will not be affected 65%

purchase decision will not be affected neutral 12%

purchase decision will not be affected 46%

purchase decision will bepurchase decision will affected be affected 46% neutral

More categories in luxury brands would affect the purchase decision majorly and for few it wont.

neutral 8%

purchase decision will not be affected

celebrity affects neutralpurchase 0% 0%

celebrity affects purchase celebrity does not affect purchase

Celebrity association does not affect the purchase for a particular brand to a large extent whereas 20% are influenced by it

celebrity does not affect purchase 100%

neutral

neutral 4%

purchase according to characteri stics 50% purchase according to characteristics purchase not according to characteristics

72% females purchase is based on the characteristics of the brand whereas 24% are not affected by it

purchase not according to characteri stics 46%

neutral 19%

dont care about what others think dont care about what others think 73% care about what others think neutral

When purchasing only 8% care about otheres approach whereas 88% consider other factors then what people around might think

care about what others think 8%

knowledge neutral before 0% purchase is required 27% knowledge before purchase is not required 73% pay attention to what others are neutral buying 8% 15%

knowledge before purchase is required knowledge before purchase is not required neutral

For 48% knowledge about the brand is not required whereas 40% believe in knowing about the brand.

pay attention to what others are buying dont pay attention to what others are buying

Many females do not really care what people around buy , there is an independent decision whereas 24% do notice the purchasing around.

dont pay attention to what others are buying 77%

neutral

neutral 16%

investmen t in watch investment in is worth watch is worth its its retail retail price price 42% investment in watch is not worth its retail price neutral

When asked if the the investment worth its retail proce 72% strongly believe it is whereas 28% feel less about the worth

investmen t in watch is not worth its retail price 42%

neutral 4%

willing to pay for limited editionwilling to pay for 42% limited edition not willing to pay for limited edition neutral

not willing to pay for limited edition 54%

I would not gift a watch 8%

neutral 11% I would gift a watch I would not gift a watch neutral I would gift a watch 81%

neutral 4%

I purchase watches when in bad mood 11%

I purchase watches when in bad mood I dont purchase watches when in bad mood neutral

I dont purchas e watches when in bad mood

1 2 3

Showing how frequently they wear watches.

daily social gatherings occassions

5 5 1

1 2 3

Which attribute stimulates the purchase of a brand.

fine design status symbol personality

8 2 1

1 2 3

yes maybe no

5 5 1

If the brand came out with a new range what would be the purchase

1 2 3

What feature of a watch attracts the most

chronograph dial strap

2 8 1

Will the fall in price of the owned brand affect the purchase decision.
purchase decision will be affected neutral purchase decision will not be affected
1 2 3

purchase decision will be affected neutral purchase decision will not be affected

6 0 5

will more options in the luxury watch category, affect the purchase decision

1 2 3

1 2 3

Does celebrity associated with the brand affects the purchase decision

celebrity affects purchase celebrity does not affect purchase neutral

2 8 1

purchase according to characteristics purchase not according to characteristics neutral

1 2

7 4

Does the characteristics of the brand should describe you

1 2 3

Does others opinion about the brand affects the choice of purchase.

dont care about what others think care about what others think neutral

9 1 1

1 2

Is knowledge about the brand and the customers associated relevant

knowledge before purchase is required knowledge before purchase is not required neutral

6 5

1 2 3

If the purchase is affected by what others urchase

pay attention to what others are buying dont pay attention to what others are buying neutral

3 6 2

1 2

Is the investment worth

investment in watch is worth its retail price investment in watch is not worth its retail price neutral

7 3 1

2 45%

Does limited edition watches attracts the customers

1 55%
1 2

willing to pay for limited edition not willing to pay for limited edition neutral

7 4

2 9%
1 2

I would gift a watch I would not gift a watch neutral

10 1

How many would gift out a watch

1 91%

As per the age respondents were interviewed and the followed data could be incurred Respondents of age BELOW25

occassio ns 16%

daily 42%

daily social gatherings

social gatherin gs 42%

occassions

personali ty 21%

fine design 68%

fine design status symbol personality

status symbol 11%

no 39%

yes 28% maybe 33%

yes maybe no

chronogr aph jewel 16% 5% 0% dial 79%

dial jewel chronograph

purchase decision will be affected 37%

purchase decision will be affected neutral

purchase decision will not be affected 37%

neutral 26%

purchase decision will not be affected

purchase decision will not be affected 32%

purchase decision will be affected neutral

neutral 0%

purchase decision will be affected 68%

purchase decision will not be affected

celebrity affects purchase neutral 5% 5%

celebrity affects purchase celebrity does not affect purchase

celebrity does not affect purchase 90%

neutral

neutral 0%

purchase according to characteristics purchase not according to characteristics neutral

purchase not accordin g to characte ristics 32%

purchase accordin g to characte ristics 68%

care about what others think 11%

neutral 5%

dont care about what others think care about what others think neutral

dont care about what others think 84%

neutral 0%

knowledge beforeknowledge before purchase is purchase is required required 42% knowledge before purchase is not required neutral

knowledge before purchase is not required 58% pay attention to what others are buying 21%

neutral 11%

pay attention to what others are buying dont pay attention to what others are buying neutral

dont pay attention to what others are buying 68%

investment in watch is not worth its retail price 16%

neutral 5%

investment in watch is worth its retail price investment in watch is not worth its retail price neutral investment in watch is worth its retail price 79%

neutral 0% willing to pay for limited edition not willing to pay for limited edition not willing to pay for limited edition 32% no less desire to buy when mass quantities is purchase willing to pay for limited edition 68% neutral

neutral 5%

less desire to buy when mass quantities is purchased no less desire to buy when mass quantities is purchased neutral

less desire to buy when mass quantities is purchased 74%

I would not neutral gift a watch 5% 5% I would gift a watch I would not gift a watch neutral I would gift a watch 90%

I purchase watches when in bad mood I purchase watches 45% when in bad mood I dont purchase watches when in bad mood

I dont purchase watches when in bad mood 55%

AGE BETWEEN 25-30

social gatherings 44% occassions 0% daily social gatherings occassions

daily 56%

fine design 11%

personality 56%

status symbol 33%

fine design status symbol personality

yes 11% maybe 22% no 67%

yes maybe no

chronograp h 45%

dial 33% jewel 22%

dial jewel 0% chronograph

purchase decision will not be affected 44%

purchase decision will be affected neutral purchase decision will not be affected purchase decision will be affected 56%

neutral 0%

purchase decision will not be neutralaffected 0% 11%

purchase decision will be affected neutral purchase decision will not be affected

purchase decision will be affected 89%

neutral 0%

celebrity affects purchase 22% celebrity affects purchase celebrity does not affect purchase

celebrity does not affect purchase 78%

neutral

neutral 11%

purchase according to characteristics purchase not according to characteristics

purchase not according to characteris tics 33%

neutral purchase according to characteris tics 56%

neutral 22%

dont care about what others think care about what others think

care about what others think 0%

dont care about what others think 78%

neutral

neutral 11%

pay attention to what others are buying 33%

pay attention to what others are buying dont pay attention to what others are buying neutral

dont pay attention to what others are buying 56% neutral 0%

knowledg e before purchase is required 33%

knowledge before purchase is required knowledge before purchase is not required neutral

knowledg e before purchase is not required 67%

neutral 22%

investme nt in watch is not worth its retail price 33%

investme nt ininvestment in watch watch is worth is worth its retail price its retail price 45%investment in watch is not worth its retail price neutral

neutral 0%

willing to pay for limited willing to pay edition limited for 44% edition not willing to pay for limited edition

not willing to pay for limited edition 56%

neutral

neutral 11%

less desire to buy when mass quantities is purchased no less desire to buy when mass quantities is purchased neutral

no less desire to buy when mass quantitie s is purchase d 22% I would not gift a watch 11% neutral 11%

less desire to buy when mass quantitie s is purchase d 67%

I would gift a watch I would not gift a watch neutral I would gift a watch 78%

neutral 11%

I purchase watches when in bad mood 0%

I purchase watches when in bad mood I dont purchase watches when in bad mood

I dont purchase watches when in bad mood 89%

neutral

AGE BETWEEN 30-35

occassions 25% daily 50% social gatherings 25%

daily social gatherings occassions

I like the brand 8% personalit y 25%

fine design 34%

fine design status symbol personality I like the brand

status symbol 33%

yes 34% no 58%

yes maybe no

maybe 8%

chronogra ph 8%
dial

jewel 34%

dial 50%

strap jewel chronograph

strap 8%

purchase decision will not be affected 42%

purchase decision will be affected 33%

purchase decision will be affected neutral

neutral 25%

purchase decision will not be affected

purchase decision will be affected 34%

purchase decision will be affected neutral

purchase decision will not be affected 58%

neutral 8%

purchase decision will not be affected

celebrity affects purchase neutral 8% 0%

celebrity affects purchase celebrity does not affect purchase neutral

celebrity does not affect purchase 92%

neutral 0%

purchase according to characteristics purchase not according to characteristics

purchase not according to character istics 42%

purchase according to character istics 58%

neutral

neutral 17%

dont care about what others think care about what others think

care about what others think 16%

dont care about what others think 67% knowledg e before purchase is required 16% knowledg e before purchase is not required 67%

neutral

neutral 17%

knowledge before purchase is required knowledge before purchase is not required neutral

pay attention to neutral what 8% others are buying 0%

pay attention to what others are buying dont pay attention to what others are buying

neutral 0%

dont pay attention neutral to what others are buying 92% investme nt in investment in watch is watch is worth worth itsits retail price retail price investment in 42% watch is not
worth its retail price neutral

investme nt in watch is not worth its retail price willing to pay for limited edition 16%

neutral 17%

willing to pay for limited edition not willing to pay for limited edition

not willing to pay for limited edition 67%

neutral

neutral 17%

less desire to buy when mass less quantities isdesire to buy when mass purchased quantities is 41%purchased
no less desire to buy when mass quantities is purchased

no less desire to buy when mass quantities is purchased 42%

neutral

I woul neutral d not 17% gift a watc h

I would gift a watch I would not gift a watch neutral

I would gift a watch 75% I purchase watches when in bad mood 17%

neutral 0%

I purchase watches when in bad mood I dont purchase watches when in bad mood

I dont purchase watches when in bad mood 83%

neutral

AGE BETWEEN 36-40

social gatherings 40%

occassions 0% daily daily 60% social gatherings occassions

personalit y 20%

I like the brand 0% fine design fine design 80% status symbol personality I like the brand

status symbol 0%

yes 0% maybe 40%

no 60%

yes maybe no

chron jewel strap ograp 0% h 0% dial dial 100% strap jewel chronograph

purchase neutral decision 0% will be affected 20%

purchase decision will be affected neutral

purchase decision will not be affected 80% purchase decision will be affected 0% purchase decision will not be affected 80% neutral 0% celebrity affects purchase 0% neutral 20%

purchase decision will not be affected

purchase decision will be affected neutral

purchase decision will not be affected

celebrity affects purchase celebrity does not affect purchase neutral

celebrity does not affect purchase 100% purchase according to characteri stics 20%

neutral 0%

purchase according to characteristics purchase not according to characteristics neutral

purchase not according to characteri stics 80%

neutral 20%

dont care about what others think care about what others think neutral dont care about what others think 80% neutral 0% knowledge before purchase is required 20%

care about what others think 0%

knowledge before purchase is required knowledge before purchase is not required neutral

knowledge before purchase is not required 80%

neutral 20%

pay attention to what pay others are attention to buying what others are 40% buying dont pay attention to what others are buying

dont pay attention to what others are buying 40%

neutral

neutral 0%

investment in watch is worth its retail price 20%

investment in watch is worth its retail price investment in watch is not worth its retail price neutral

investment in watch is not worth its retail price 80% neutral 0%

willing to pay for limited edition 20%

willing to pay for limited edition not willing to pay for limited edition neutral

not willing to pay for limited edition 80% neutral 0%

no less desire to buy when mass quantities is purchased 60%

less desire less desire to buy to buy when when mass mass quantities is quantities is purchased purchased 40% no less desire to buy when mass quantities is purchased neutral

I would not gift a watch 20%

neutral 0% I would gift a watch I would not gift a watch neutral I would gift a watch 80%

neutral 20%

I purchase watches when in bad mood 0%

I purchase watches when in bad mood I dont purchase watches when in bad mood neutral

I dont purchase watches when in bad mood 80%

Conclusion
Thus it is observed that according to the study, consumer behaviour varies according to the age, gender and income distribution. While it is observed, that majority of the males wear the watch daily the majority of females wear it on social gatherings. Majority of the males and females wear the brand because of its fine design. Both females and males have less desire to purchase the same brand again, thus showing that frequency of repeat purchase is low amongst luxury watch brand customers. Similarly, they have similar likings towards the watch features. For most of the female customers, the fall in price will affect their purchase decision while for most of the males it will remain unchanged. Most of the females will change their brand decision if Kolkata market is invaded by other brands, while the male respondents response regarding this remain ambiguous. For males and females both knowledge before the purchase is not essential. For females investment in watches is worth its retail price, while the response amongst men remains ambiguous. Females are less ready to purchase these brands when consumed in mass quantities, however, this is not observed amongst the men. While according to income distribution, the lowest and mid segment wear it at similar places, the upper segment wears watches daily. While all three vary on their opinion regarding repeat purchase. The lower segments purchase decision will affected if the price falls but this is not true for the middle and upper segment. The lower segments purchase decision will not be affected if more brands enter the Kolkata market, but for the upper segments, they are ready to experiment with more brand sin Kolkata. The middle segment does not purchase according to characteristics while the upper and lower segment purchases according to characteristics. The lower segment gathers all the knowledge before a purchase while the upper segment does not gather knowledge before the purchase decision is taken. The upper segment consumers are not ready to pay for limited edition, while the lower segment is ready. Similarly, this study helps us to determine the consumer behaviour of different age groups, their likings and preferences vary according to their age. The places where

their watches, their brand loyalty, attitude towards brands, their pre purchase decision making and influence of reference groups vary. Thus it is seen that consumers behaviour varies according to their gender, their age as well as their income.