Shop And Cars Study Essays - The Swatch Group, Luxury Brands, Watch

Shop And Cars Study Acknowledgements Contents List of Tables List of Figures Executive Summary Introduction Background Rupani Brothers, established in 1943, is a watch shop located in Hazratganj, Lucknow. It is into the sale and repair of watches and clocks. The shop sells watches of many reputed brands, in all price ranges. Some of the famous brands of watches sold at Rupani Brothers are Tissot, Rado, Timex, Titan, HMT, Omega, Swatch, Bentex, D'signer, Citizen, etc. They also sell many brands of clocks such as Citizen, Prestige, Opel, Samay, Siwa and Rewa. They cater to customers of all classes and categories, but its primary target group is the upper middle strata and the higher strata of the society. Objective of the Study Our objective is to make suggestions that would increase the sales of Rupani Bros. by 10 percent, through the application of our knowledge of marketing concepts. METHODOLOGY Research Design We planned to do our study from three angles: A study of the shop: This would involve a detailed study of the shop. We would get detailed information from the shop owner and from our observations of the shop. This is to understand the factors that go into making a successful watch shop like services offered, promotional and advertising strategy adopted by the shop etc. A study of the competitors: We planned to look at the shop's competitors in Hazratganj. The main competitors are listed below: 1. The Titan Showroom 2. Universal Watch Shop 3. Kings' Watch Shop We do this in order to compare what Rupani Bros. has to offer to the customers with that of its competitors. This comparison would give us a clear picture of the areas in which Rupani Bros. have to improve. Study of the customers: We planned to conduct a detailed study of people in Hazratganj wherein we would ask them specific questions by means of questionnaire designed by us. The purpose of the study is to know their behaviour as far as purchase of watches is concerned and their views on the shop. These expectations would be mapped with what the shop actually offers, and accordingly we would come up with some concrete suggestions as to how the shop can meet these expectations. Data Collection We followed the above mentioned research design for data collection A study of the shop: We collected information about the shop from the shop-owner and by our own observations during our four visits to the shop. From the shop owner we got detail regarding the brands of watches and clocks sold, sales figures for the various brands in terms of both units sold and revenue generated, division of sales among watches and clocks, busy and lean season, advertising strategy and sales promotions followed, and the after sales services offered. Through our observation of the shop we found out the general d?cor of the shop, the display of watches, space availability and the services offered by the sales people. A study of the competitors: We looked at the shop's three competitors in Hazratganj. All the three shops provide stiff competition to Rupani Bros as they are located in proximity to the shop and target the same market segment comprising the upper middle strata and the higher strata of the society. The study involved observation of the competitor shops to get information regarding the various brands of watches and clocks sold, the display of watches and clocks, the d?cor of the shop and the quality of services offered. A study of the customers: We conducted a detailed study of people in Hazratganj by means of a questionnaire. In the questionnaire we asked specific questions like Their favorite brands of watches The major occasions on which they buy them The sources they use to gather information about watches The people who influence their purchase decision, and What they look for in a watch shop. We interviewed a total of sixty-three people, all in Hazratganj. The reason for conducting the survey entirely in Hazratganj is that there we would get a sample of people who are either already customers of the shop or are potential customers. Thus the sample would be representative of the target market segment of the shop DATA AND DATA ANALYSIS Data collected from Shop: The shop is very well situated; it occupies a corner plot just