Synopsis Report

on
" A Study of Market Analysis of Fastrack Watches "

Submitted to
Yashwantrao Chouhan Open University, Nashik

In partial fulfillment of the requirement for the award of the degree

Master of Business Administration (MBA)

Submitted By
Siddhesh Sunil Neral
PRN No - 2015017002216953

Under the guidance of:

Dr. Pravin Bhagdikar
Associate Professor
Annasaheb Gundewar College, Nagpur

Through
Study Center (44127)
Annasaheb Gundewar College, Nagpur
 A Synopsis on

" A Study of Market Analysis of Wrist Watches "

1. INTRODUCTION

Most of the 500-year history of watches consisted of the development of the mechanical
watch. Watches evolved from portable spring driven clocks, which first appeared in 15th-
century Europe. Portable timepieces were made possible by the invention of the mainspring
in the early 15th century. Nuremberg clockmaker Peter Heinlein is often credited as the
inventor of the watch.
One account of the origin of the word "watch" is that it came from the Old English word
woecce which meant "watchman", because it was used by town watchmen to keep track of
their shifts. Another says that the term came from 17th century sailors, who used the new
mechanisms to time the length of their shipboard watches.

Fastrack is an informal English phrase meaning "the quickest and most direct route to
achievement of a goal, as in competing for professional advancement. By definition, it
implies that a less direct, slower route also exists. 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. Indian watches market was for long dominated by public sector organizations
like Hindustan Machine Tools Ltd. Besides this, buyers are extremely choosy about the
brand and type of wristwatches they wear. Being extremely brand conscious, their tastes
have evolved over the years and have gone beyond the realms of durability to choose in
terms of aesthetics and elegance. Thus, it is a buyer’s market with multitude of designs that
have entered and flooded the market place.
2. RATIONAL OF THE STUDY

The Fastrack is on a shock-and-awe inducing spree. Just a little while ago, it had rolled
out 'Just Be', an out-of-home campaign with models sporting a 'couldn't-care-less'
attitude to showcase the product range. This time round, the 'Sorry for What' campaign
features a female model shaving her head while another flaunts an unshaved armpit;
meanwhile a male model is shown wearing thongs - basically each a case of role
reversal. The campaign underlines individual freedom by suggesting that if the young
want to do something that shocks the people around them, it is not their problem. The
campaign showcases products such as helmets, watches, bags and sunglasses.

Speaking about the communication, Hemal Panchamia, head, marketing, Fastrack,

says, "'Unusual' is the right word for this campaign. At Fastrack we think a lot about
social stereotypes and what we can do to change people's point of view. We thought
billboards would be a great way to address the issue." The digital leg of the campaign
will take off soon.

3. IMPORTANCE AND SIGNIFICANCE OF STUDY

1) In Shop floor and Stores Inventory Management is the cumbersome

process and needs regular monitoring to avoid any last-minute surprises.
2) In spite of having barcode system and proper inventory management
system, there was difference in the books of accounts against physical
availability of watches and collections.
3) Sometimes by oversight, sales men used to misplace watches, price tag
removed from the watch, billing errors on the watch brand, etc. keeps
happening resulting in huge financial implications and threat to security
measures for the Franchise. Also, the loss is found only during the audit
which happens quarterly once.
4) Cygnus has decided to minimize the problem by implementing
automated Inventory tracking and audit process i.e., RFID based Inventory
Management System.
4. OBJECTIVES OF STUDY

1) To understand the existing product quality in Fastrack watches.

2) To investigate whether the product quality of Fastrack watches is capable of
addressing all demands made by customer.

5. HYPOTHESES

In order to plan the nature and scope of investigation, "firstly a set of hypotheses were
evolved. These set of hypotheses were relating to each and every aspect of the objective
of the study.
In the present research work hypothesis is formed as follows: -

1) Product quality is not meeting the expectations of the customer

2) Customer Satisfaction is not expecting the set standards
6. RESEARCH METHODOLOGY

PRIMARY DATA: - It is the first-hand information. Direct interview method is going

to be adopted.
SECONDARY DATA: - Secondary data are the data which is collected from the
various reports and articles published.

1. PRIMARY DATA:
Primary research (also called field research) involves the collection of data that does
not already exist. This can be through numerous forms, including questionnaire are and
telephone interview amongst others. This information may be collected in things like
questionnaire and interviews. The term is widely used in market research and
competitive intelligence. May be very expensive because many people need to
confronted. By the time the research is complete it may be out of date. People may have
to be employed or avoid their primary duties for the duration of the research. People
may not reply if emails or letter are used.
2. SECONDARY DATA:
Secondary research involves the summary, collection and/or synthesis of existing
research rather than primary research, where data is collected from, for example,
research subjects or experiments.
The term is widely used in market research and in medical research. The principal
methodology is medical secondary research is the systematic reviews, commonly using
meta-analytic statistical techniques, although other methods of synthesis, like realist
reviews and meta-narrative reviews have been developed in recent years.
Ex: websites, magazines, marketing books.

LIMITATIONS:

1) Watches have become the most necessary commodity/service, so it was difficult to

define the population in a particular place.
 2) 50 respondents cannot represent the population, as a whole. So, the findings may
be biased.
3) Time plays a havoc role in data collection. So, the sample is restricted to 50.
4) Chances of biased responses from the customers

7. BIBLIOGRAPHY

1) www.en.wikipedia.org/wiki/Casio
2) Official network of Fastrack, https://www.fastrack.in
3) Official network of Casio, https://www.casio.com
4) www.articles.watchkart.com/category/Fastrack
5) http://articles.economictimes.indiatimes.com/keyword/fastrack/recent/2
6) www.world.casio.com

8. CHAPTERISATION

Chapter 1: INTRODUCTION
This chapter deals with the brief introduction the topic general introduction and specific
introduction.

CHAPTER 2: IMPORTANCE AND SIGNIFICANCE OF STUDY

This chapter revolves around the importance and helps us to show light on the
significance, the study will bring out.

CHAPTER 3: OBJECTIVE OF STUDY

It all points out on the purpose of the study.

CHAPTER 4: HYPOTHESES
 This chapter deals with the suggestions, propositions and premises the study will bring
out.

CHAPTER 5: RESEARCH METHODOLOGY

This section highlights on the types of the data and the limitations the study will
possess.
CHAPTER 6: BIBLIOGRAPHY
This chapter deals with source of the data. The important references we have visited to
make the most of this study.

Siddhesh Sunil Neral Dr Pravin Bhagdikar

PRN No – 2015017002216953 Supervisor