Literature Review On Wrist Watch

In this competitive world, where all the companies have come out with varied range of watches in order to capture the market, consumer has become an integral part of them. Watches are among the most essential accessory of a human and their cost differ with the features, style, brand name they are carrying with them. The watch world has revolutionized so much that they have become a style statement of a person. According to Industry Statistics of India, 50 million wristwatches are sold in India every year. The valuation of the wrist watch market in India is of Rs.1500 Crores as stated by Industry Statistics of India.

Among the segmentation of market it is taken as that the male have a market of 65% in wrist watch market whereas 35% is of females.

Kunal Bhattacharya, University of Pune, India, Dr. Shikha Jain, University of Pune, India, Prof. Avadhoot Pol, Sinhgad Institute of Business Administration and Research (SIBAR) is already done and have produced some recommendations in the concerned field of study.

• Brand-conscious, tech-savvy, old before their years and equipped with generous incomes that are almost entirely discretionary, they are an increasingly attractive segment for marketers of all kinds of products, ranging from fashion and beauty to digital devices

• The watch market is accounted for by a host of local and international brands, including cheap Chinese imports

• Today’s Managers must concentrate on current fashion trends (many often unique to the country) as well as attitudes toward personal appearance, health and wellness and beauty that influence patterns of consumer

Here we can comment that,

• Most of the consumer consider brand name as the one of the main factor in purchasing a premium wrist watch. The consumer has a liking for a particular brand name and don’t prefer to purchase different branded wrist watches.

• Most of the consumer are concerned about the satisfaction while wearing premium wrist watches as they think that after spending high amount on premium watches it should feel good while wearing them.

• Apart from the above mentioned 2 factors the consumer take care about the price of the wrist watches. There are many consumers who are stringent on spending too much for a particular liking of a wrist watch as they think that spending more on watches is a waste of money.

• One of the major factor which drives all the purchasing of these premium wrist watches is the salary of the consumers. There are many consumers who are not ready to spend more than 25% of their monthly salary in buying a premium wrist watch, however there are few consumers who are ready to buy the selected wrist watch on EMI (Equated Monthly Instalments) option which are these days very widely being provided by all the e-Commerce companies in order to compete in the