PROJECT REPORT ON

“A STUDY ON CUSTOMER SATISFACTION TOWARDS

FASTRACK”

Submitted in partial fulfillment for the award of the degree of

Bachelor of Management Studies (BMS).

(University of Mumbai)

Submitted By
Nisha N. Pandey
(Roll No:- BMS/19/024)

Under the Guidance of

Prof: Deepak Nayak

Academic Year
(2021-22)

DEEP’S DEGREE COLLEGE

Saravali, Borsar (W),
Tal. & Dist. Palghar (MH) -401 501.
CERTIFICATE

This is to certify that project titled “A study on customer towards fastrack” is

successfully completed by Nisha N. Pandey during the VI Semester, in partial fulfillment
of the Bachelor’s Degree in Management Studies recognized by the University of Mumbai
for the academic year 2021-22 through DEEP’S DEGREE COLLEGE.
This project work is original and not submitted earlier for the award of any degree
/diploma or associateship of any other university / Institution.

Date:

Prof. Deepak Nayak Prof. Asmita Talwelkar

(Internal Examiner) ( Principal)

External Examiner College Seal

Declaration

I Nisha N. Pandey declare that the project titled “A Study on Customer Satisfaction
towards Fastrack” is an original work prepared by me and submitted to the University of
Mumbai in partial fulfillment of the degree “BACHELOR OF MANAGEMENT STUDIES” for
the academic year 2021-22. The information submitted is true and original to the best of
my knowledge.

The matter embodied in this project report has not been submitted to any other
university or institution for the award of the degree. The project is my original work and
has not been presented earlier in this manner.

This information is purely of Academic Interest.

Name: Nisha N. Pandey Date:

Roll No.: BMS/19/024 Place: Saravali, Boisar (W)

Signature of the Student

Acknowledgement

The success of any project depends largely on the encouragement and guidelines of many
others, apart from our efforts. I take this opportunity to express my gratitude to the
people who have been instrumental in success of this project. It is my humble attempt to
thank all those people who have shown their tremendous support and help to make this
project.
It is my pleasure to thank our Principal of the college Mrs. Asmita Talwelkar for granting
us an opportunity to carry out our project work on “Project Title” with continuous
assistance and motivation.
I wish to express my gratitude to our project Guide Prof. Deepak Nayak for approving
our project, permitting us to work on the topic of our interest and valuable suggestions
throughout, for the successful completion of this project work. I would also like to extend
my sincere thanks to her for her valuable help and support in solving our difficulties and
offering us guidance and constant encouragement.
Finally, I take this opportunity to express our gratitude to one and all who helped us
directly or indirectly for the completion of our Project.
Sincere thanks to all.

Name: Nisha N. Pandey

DEEP’S DEGREE COLLEGE.
TYBMS (SEM – VI)
Roll No.: BMS/19/024
TABLE OF CONTENTS

SR. NO CONTENTS PAGE

NUMBERS
1-6
1 Theoretical Background of The Study

7-28
2 Industry Profile &Company Profile

29-32
3 Review of literature

33-36
4 Research methodology

37-58
5 Analysis and Interpretation of
Financial
Statements and Reports
59-61
6 Learning Experience-
Findings,
Suggestions and Conclusion
62-67
7 Executive Summary

68
8 Bibliography

2
CHAPTER-1

THEOTRICAL BACKGROUND OF THE STUDY

CUSTOMER SATISFACTION

It is a measure of how products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported
experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals."

The Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and constructs of
classes of measures that appear in Marketing Metrics as part of its ongoing Common Language in Marketing
Project. In a survey of nearly 200 senior marketing managers, 71 percent responded that they found a customer
satisfaction metric very useful in managing and monitoring their businesses.

It is seen as a key performance indicator within business and is often part of a Scorecard. In a competitive
marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and
increasingly has become a key element of business strategy.

Purpose of Customer Satisfaction

Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty. "Customer
satisfaction data are among the most frequently collected indicators of market perceptions. Their principal
use is twofold:"

1. "Within organizations, the collection, analysis and dissemination of these data send a message about
the importance of tending to customers and ensuring that they have a positive experience with the
company's goods and services."

2. "Although sales or market share can indicate how well a firm is performing currently, satisfaction is
perhaps the best indicator of how likely it is that the firm’s customers will make further purchases in
the future. Much research has focused on the relationship between customer satisfaction and
retention. Studies indicate that the ramifications of satisfaction are most strongly realized at the

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Extreames.

On a five-point scale, "individuals who rate their satisfaction level as '5' are likely to become return
customers and might even evangelize for the firm. (A second important metric related to satisfaction is
willingness to recommend. This metric is defined as "The percentage of surveyed customers who indicate
that they would recommend a brand to friends." When a customer is satisfied with a product, he or she
might recommend it to friends, relatives and colleagues.

This can be a powerful marketing advantage.) "Individuals who rate their satisfaction level as '1,' by
contrast, are unlikely to return. Further, they can hurt the firm by making negative comments about it to
prospective customers. Willingness to recommend is a key metric relating to customer satisfaction."

 The value customers places on the product compared to another may be a better indication of
customer loyalty.
 Customer satisfaction should not be viewed in a vacuum.
 For example, a customer may be satisfied with a product or service and therefore rate the product or
service highly in a survey and yet same customer may buy another product.

CUSTOMER PERCEPTION OF QUALITY

ASQ SURVEY SHOWS THAT IMPORTANT FACTORS THAT INFLUENCE PURCHASING ARE

1. PERFORMANCE

2. FEATURES

3. SERVICE

4. WARRANTY

5. PRICE

6. REPUTATION

Why customer satisfaction is important?

A Loyal customer is a treasure you should keep and hide from the world
According to the White House Office of Consumer Affairs, on average, loyal customers are worth up to 10
4
times as much as their first purchase. Some research says that it is 6-7 times more expensive to acquire a new
customer than it is to keep a current one.

Banks or mobile providers know it best, so they don’t have any problem with going the extra mile for a
customer who is not quite satisfied and often offer him something special. Not only it is more expensive but
also much more difficult to keep existing and loyal clients (let alone keeping them fully satisfied and happy!)
than to gain some new ones.

Take this rule into account while organizing your customer service processes and do your best to look after
them.

They can stop being your clients in a heartbeat

Is not rocket science, nowadays clients easily switch their love brands. It is often caused by terrible customer
service. Clients waiting for ages to get feedback or comment from a brand? Unacceptable! But it still happens.
And gaining clients’ trust takes up to 12 positive experiences to make up for one unresolved negative
experience.

“When customers share their story, they’re not just sharing pain points. They’re actually teaching you how
to make your product, service, and business better. Your customer service organization should be designed
to effectively communicate those issues.” – Kristin Smaby, “Being Human is Good Business”.

You can’t gain customers’ satisfaction forever; you need to look after them all the time. Try to talk to them,
instead of to them. Ask questions, offer constant support, send personalized messages or offers, use
dedicated customer satisfaction software or any other technique that will help you communicate with your
customers and collect insights.

Take care of each and every one of your clients’ need and you’ll be rewarded with their gratitude and loyalty.
Sounds like a good deal, doesn’t it? Brands often take their audience for granted, and they’ve never been so
wrong – one decision, or lack of it, can result in losing a lot of clients and their respect. That’s why measuring
clients’ satisfaction is so important.

It’s (all) about the money, too

It shouldn’t be surprising, but customer satisfaction is also reflected in your revenue. Customers’ opinion and
feelings about the brand can affect, in both positive and negative way, the essential metrics – such as the
number mentions and repeated transactions, and also customer lifetime value or customer churn.

5
Happy customers won’t look at your competitors offers – they will happily interact with your brand again,
make a purchase and recommend the product further. If you meet all of their requirements and answer their
needs while delivering the best quality of your services, they will be fully satisfied.

Not to mention your brand will increase sales revenue!

Measuring customer satisfaction should become your daily habit – not something you do from time to time
and only if you’re about to face crisis management. If you don’t know how to do it right, you can take a look
at our guide to measuring customer satisfaction to make things easier.

Customer satisfaction is a factor that helps you stand out of the competition
Kate Zabriskie once said that “Although your customers won’t love you if you give bad service, your
competitors will.” and we couldn’t agree more.

Your competitive rivals are just waiting for you to make a wrong move. What is more, they can often play the
role of an instigator. Being prepared for their provocations is not enough if you don’t know how to deal with
the negative backlash.

However, if you provide your customers with amazing customer service, you will gain arguments to convince
those uncertain of your services.

Great customer experience can take your brand places

The importance of customer satisfaction should never be neglected. You should consider it especially while
planning your marketing and positioning campaigns. Satisfied customers are more likely to share your content
across social media.

They will also more keenly interact with your posts, leaving some delightful and admirable comments. Later
you can use it as the source for case studies and success stories. Being an example of a company that provides
a ravishing customer satisfaction? Every brand should aim for it.

Advantages of Customer Satisfaction Surveys

 Up-to-date feedback: Gather current customer feedback on various aspects of your company.
You can stay on top of customer trends through regularly scheduled online surveys or email surveys,
and receive instant customer feedback. It is always useful to acquire insight into how your

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customers are currently reacting to all aspects of your business.
 Benchmark results: You can administer the same survey every so often to customers to gain
continued insight into your customers. Surveys can have the same questions, which will allow you to
compare data over time and benchmark survey data across previous years to determine if any
changes need to be made.

 Show that you care: Customers like to be asked for their feedback. It gives the customer the
perception that your company values them; is committed to keeping them as a long-term customer;
and bases business decisions on their feedback.

Disadvantages of Customer Satisfaction Surveys

 Too many surveys, so little time: Your customers are bombarded with online surveys.
Surveys may be simple to complete; however, some people simply don’t like to complete
them. Sending surveys too often can irritate customers and lead to customer burnout. Customer
burnout can result in low response rates or result in lower satisfaction scores, despite your reputation
for providing excellent products or services.
 Privacy Issues: We live in a high-tech environment filled with daily doses of unwanted junk
email, email solicitations, and sales calls. When taking an online survey or a phone survey (or any
type of survey), it is hard for your customers to believe that they aren’t being tracked. Because of
insecurities of releasing private information, customers today are hesitant in giving out information
that may lead to more junk email and unwanted calls.
 Make certain to assure customers that the information they provide in response to your customer
satisfaction surveys will not be used. Without this disclaimer, it may be difficult to receive a good
response rate.

INDUSTRY PROFILE

About Fashion Accessories industry

Fastrack brands are fashion Accessories industry. These industries offerings are Wrist watches, bags, belts,
wallets, sunglasses, and helmets. Though Fastrack mainly concentrate on Wrist watches but it also has a good
market share in the other fashion accessories products like sunglasses, bags, helmets, wallets and belts. These
all fashion accessories offered by the Fastrack are very stylish and trend setters among the present youths.

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As fashion accessory industry has a huge and bigger market, Fastrack is one of the best companies in the
fashion accessory industry. Fastrack is India’s one of the biggest youth fashion product manufacturer with a
variety of collection of sunglasses, belts, bags, helmets, wallets and watches. The Fastrack has a good
distribution network over 100 Fastrack outlets over 50 major towns across India. Fastrack is mainly a youth-
oriented product as it is a fashion accessory industry, so it offers a cool and youth stylish brands to the youths.
Fastrack is so famous among the youths because the products are of speedy changing designs and with latest

trends. It is also very good in outstanding advertising and brand visibility of the product. The different and
cool advertisements also contributed a lot in connecting the all kinds of people to their products and brands.
The Fastrack products are also available through their owned retail outlets, stores, supermarkets, malls, and
even in online also. So, it is one of the most trusted brands in India.

Fashion accessories are the cool items that are used to accompaniment the whole outlook of the body. They
consist of colourful and various collections of bags and purses, eyewear, belts, fashion eyewear and watches.
So Fastrack is the company which produces all these fashion accessories products with unique style and
features.

The future outlook of the accessories industry is of enormous dazzling, as the youths of the country are
becoming more fashion oriented and judgmental ensuring in a growth in demand for these fashion accessory
products. The living style of the people and the purchasing power that is increasing, more and more people
particularly the young generation and middle age group are spending more on these products has increased
the growth of the fashion accessories industry.

The market of fashion accessories in India is severally dominated and ruled by many unbranded and local
manufacturer, so we can witness a more number and a vast marketplace for branded players in this fashion
accessory industry area. Team BOS Products Limited, which has as of late gone into design adornments
retailing through its Crew Republican Retail stores, shares, "Frame embellishments is a high advancement
locale as there are not by any means any checked players show in this bit. Moreover, as the outline care in
India grows inestimably, the improvement in embellishments is a trademark development. “So there is a good
and vast market is there in India for the fashion accessory industry as it has the highest rated young generation
in the world.

As per the researchers the old report of few years back estimates the fashion accessories bazaar is at around
Rs 10,000 crores. The expansion size of this industry is expected at around 30-40 percent per annum. In reality,
the actual market size of this industry would be a lot bigger. The recent analysis on the fashion accessories
shows that there will be a very big growth for the fashion accessory industry.

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HI design India, the producer and retailer of fashion accessories, mainly leather handbags and wallets, said,
"The market of handbags is approximately around 1000 crore and its growth rate is about 20 percent. In recent
couple of years, they have seen the development at around 23-28 percent.

Trends in fashion accessories

Fashion has been a very important sector in the progress of Indian retail industry, not only because of its vast
dimension but also the mode it has inclined the Indian people’s lifestyle. And with the rising throwaway

earnings and their feelings like 'look stylish, look good be the best and the outfit wearing should be attractive
because of this kind of attitude, fashion accessories are becoming more popular among consumers. The
purchaser will calculate and evaluate their spending, and they are ready to spend more money on fashionable
products as they are used more often to look completely stylish.” Currently the variations in fashion are the
biggest trend around and it will grow larger in future. As more people start to appreciate the value fashion it
will made them to wear fashionable items and products which is new with the comfortable feel. The print
media, television and social media make the people with latest fashion available in the present generation.
“Crew Republica mainly concentrate on young population. In India there is a lot of scope for the good brands
as the present generations are educated and they look for quality and fashionable product.

Market size

The total fashion accessory retail market is of worth Rs 15,557 Crore. The market for fashion accessory
industry is very big and it is growing at 18 per cent to 19 per cent. And it is estimated to reach Rs 25,400 Crore
by 2018 by the Report of India Retail.

According to the report it shows that in the recent years the Indian fashion accessory market has grown so
vast and it is booming with various kinds and ranges of product that offers in this industry.

Key Market Drivers for Fashion Accessories

In terms of the demographic India is a country of opportunities that is, it is home to 17 percent of the world’s
population, at 1.1 billion people. One of the youngest countries in the world, which has the highest work
forces when compared to other countries of the world. At 24 years, the country has the lowest median age of
population in the world, with 50% of the population less than 25 years and 70% less than 35 years of age.

The market size of fashion accessories is wider in India, the main reasons for the growth and big size of fashion
accessories are largely due to:
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 Higher income
 More number of Younger populations
 Increasing Urbanization
 Continuous Changes in fashion and trends
 Developments in style and preference of the Brands
 Increasing literacy levels
 Changes according to the international fashion and style
 Good usage of technology
 Growing urbanization
 Impulsive purchase preference of youngsters
These all are the main key drivers of the fashion accessories industry. Because the growth of the India and
increasing literacy and the hungriness of the youngsters towards the fashionable product, there is a vast
opportunity for fashion accessory industry is in large scale.

For retailers and brands, the accessories market in India will continue to present an opportunity to innovate
and grow and to produce a unique product. With the increasing penetration of corporatized retail, the
accessories market will also witness the opening of many more formats and concepts. And while many Indian
retailers and manufacturers will keep on to focusing on the latest international fashion trends, and many more
will blend international with traditional Indian styles and elements to make their offerings more connecting,
distinct and unique.

Some of the Industry challenges

 Severe increase in raw material prices

 Emergence of new markets
 Severe competition
 Changes in government rules and regulations
 Changes in customer buying pattern
 Quick transformation of trends and fashion

The various products of Fastrack Brands

Wrist watches

Clock and watches are the tools or device that is used to determine or indicate the time. A clock which is larger
than the watch is usually planned to be kept in one place or in the wall, but unlike this a wrist watch is

10
manufactured like to be carried or worn in hands which is less in weight. Both types of timepieces require a
source of power and a means of transmitting and controlling it, and as well as a indicator to register the laps
of time units. So it is mainly used to measure the time units.

Once upon a time wrist watches are just a need to check the time but now it has become a demand. Now a
day’s wrist watches are also used as a symbol of status and pride, to that level wrist watches have grown in
the present scenario. The wrist watches are so important in today’s scenario not only to watch the time it is
also one the fashion item to look more attractive by wearing it. So wrist watches are also one of the important
items in the fashion accessory industry.

Wrist watches are so famous that there are lots of companies which manufacture watches in different style
and fashion that it is so attractive and one kind of fashion to the people. So special and variety of brands with
the different design, technology and innovations have entered into the market.

Watches types by applications:

Sports Watches

These are the watches weared by sportsmen and have a various kind of facilities and features in them as per
the requisite. You can get a various kind of watches in this. These watches are high precision watches and
give a sporty look too. According to the requirement both kind of digital and analogue watches are also
available in these sports watches.

Luxury Watches

These watches are very expensive and costly watches that are very good and great for watch collectors or
watch lovers one who be grateful for great accuracy and handcrafted designs in the watch. These types of
watches are often enclosed with valuable gemstones and other costly and very exclusive materials.
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Clip Watches

Clip watches are multifunctional tool that usually consist of a watch with a clip so that u can fix it with your
jeans backpack. The watch also sometimes has multi apparatus built it around like a fold out knife or scissor
which will be helpful in a perfect outdoor accessory

Smart Watches

Now these watches have come with smartphone features so they are called as Smart watches. The watches
with technological initiation can measure your pulse, provide training, play music, give alerts and perform a
wide variety of other actions unlike other watches.

Water resistant Watches

Water resistant watches are particularly designed and tested to be resistant to water and standardized for the
same. The watches are prepared to save watches from waters. These watches are so cool that they can tolerate
the splashes of water and makes watches safe from the water. Water resistant watches are so famous in public
that most of the people buy the watch product if only they waterproof in it.

Sunglasses

Sunglasses or eyewear are a form of eyewear primarily designed to avoid bright sunlight and high energy
visible light from damaging or harming the eyes. These sunglasses are also used as a fashion tool for the
stylish look of Men or Women. So sunglasses are one of the main important items in the fashion accessories
industry.

The optometric union suggests sunglasses wherever a person is in the very hot and humid place that time it is
to protect and safeguard the precious eyes from ultraviolet radiation (UV) and blue light which can harm or
cause several eye problems. So sunglasses play a very important in protecting and safeguarding our sensitive
eyes from dangerous lights. Primarily sunglasses are formed to protect eyes from sunlight and high energy
lights but over the time it is used for fashion and to show off the style. In the earlier stage sunglasses started
to become more famous especially because of film stars. It is commonly believed that this was to avoid
recognition by fans but alternatively it became a fashion and it is largely impacted to the young youths of the
society.

Bags

A bag is a general tool in the form of a non-rigid container. In the present generation bags are present

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everywhere with almost every people normally carrying a wide variety of them in form of cloth or leather
briefcases, handbags and backpacks. Fastrack is very famous and good in manufacturing backpack bags. A
backpack is also called as book bag, kitbag, rucksack, these backpacks is in its simplest form, a cloth sack
carried on one’s back and secured with two straps that comes over the shoulder to carry any affordable
equipment’s inside the bag.

Backpacks are normally used by the students and hikers. These backpacks are often preferred by these people
because it is use full instead of preferring handbags for carrying heavy loads or carrying any sort of equipment.
Fastrack is also one of the finest companies in manufacturing stylish and cool Bags. Fastrack Bags are
attractive in their looks and unique in style so it is one of the popular brands among the college students. The
competitors for Fastrack Bags are Wildcraft, Nike, Puma, American Tourister, Lavie, Adidas, Skybags and
many others. These all are the major Bag manufacturing companies in which Fastrack has to compete with all
these.

Helmet

Helmet is a form of protective equipment worn to protect the heads from injuries. Helmets are also used to
protect our face from dust, heavy noise and also from high energy lights. More specifically helmet aids the
skull in protecting the human brain. Helmets are the most required protective equipment in safeguarding our
skull and brain, so it is an compulsory in the head while riding the motorcycle.

Motorcycle helmets protect the riders head and reduce the head injury and save the riders life. In motorcycle
helmets also we can see numerous features that some helmets provide additional amenities and facilities, like
aeration, face shields, eye protection, ear protection etc. which are the most needed features to the present
generation riders.

Some of the basic kinds of motorcycle helmets are Fully covered helmets, Off –road / motocross helmets,
Modular or flip-up helmets, Open face or 3/4 helmets, and Half helmets. These all are the basic kinds of
helmets that are offered to the motorcycle riders.

Wallets

A wallet is a small, flat case that can be used to take personal items such as cash, credit cards, and identification
documents like license, club card, voter id, and many other small things. Wallets are normally finished of
leather or fabrics. These wallets are generally foldable and pocket-sized material.

Wallet is the most essential item in the men’s accessories. A stylish and branded wallet can give a terrific
perception and identity in the society. In this Fastrack is one of the companies that give importance to the
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looks and designs of a wallets. There is substantial designs, forms and sorts of men natural leather purses are
offered in the market place. And you can also get a leather pocketbook of bi-folding and tri-folding types of
wallets. So, wallet is also a fashion accessory product offered by the Fastrack

THEORETICAL BACKGROUND OF THE STUDY

Customer Satisfaction

Customer satisfaction is a term that is always used in marketing. It is a measure of how products and services
supplied by a company or industry that meet or fulfil customer expectation. Customer satisfaction is known
as "the number of customers, or percentage of total customers, who shares the experience about the company,
its products and services that it exceeds the specified goals then it is known as customer satisfaction.

Customer satisfaction is very useful to business sector that it acts like a main performance indicator in big
business and also one of the parts of a Balanced Scorecard. Customer satisfaction is mainly used to measure

the satisfaction level of customer and to produce the products according to their needs will help in making a
perfect business strategy. In this competitive business world the business people compete for customers so
customer satisfaction is the main element and key differentiator so it has become a main tool for business
strategy.

The Business firm needs a reliable and perfect measure of satisfaction to efficiently handle the customer
satisfaction. In researching satisfaction, firms usually enquire and ask customer whether their product or
service has reached the wants and needs of the customer and also their expectations. Thus, expectations are
main leading things behind satisfaction. When consumers have high expectations on products and services of
the company at that time the reality will be low, then they will be disappointed and will likely rate their
experience as less than their satisfaction level.

Consequently, an extravagance resort, for instance, may get a lower fulfilment rating than a spending motel—
despite the fact that its offices and administration would be considered prevalent in "total" terms.

In today’s cutthroat competition delivering high quality of products and service is the main aim of every
organization for a sustainable growth and to get success against the competitor. Customer satisfaction is one
of the greatest tools for the organization’s profitability and product popularity. Satisfied customers are the
basis for any successful business in the market because customer satisfaction leads to loyal to the company,
repeat purchases, brand loyalty, and positive word of mouth. Many studies have proved that customer

14
satisfaction is the main reason for the repeat purchases, brand loyalty and retention. The researchers found
that the satisfied customers are more loyal to the products and company that satisfied their needs. These
satisfied customers will result in sharing their positive experiences with other people. This results in good
feedback to the company and increases in their profitability. So satisfied customers are like foundation to any
successful business.

Customer satisfaction is the result of those people who have experienced the company’s good performance
that have fulfilled their expectations and needs. Many researchers and academicians who have studied and
researched on customer satisfaction they highlight and explain about the significance of customer satisfaction
that how it plays a main function in the success of any business firm. Many researchers have proved that
customer satisfaction has a great vibe and constructive effect on organization’s profitability. Much observed
and experimental facts also show the positive correlation between customer satisfaction, faithfulness and
retention. These three are closely interconnected to each other that, if customer is satisfied by the products
then automatically customer will be loyal to the products and company, it will help in building retention so
like these three are interconnected to each other. So customer satisfaction is the basis for overall planning and
strategy of any goods and services. This customer satisfaction analysis will give a clear-cut idea in
manufacturing the products and services according to the preference and needs of the customer. This helps in
becoming customer loveable company and a ruler in the market.

Dimensions of Customer Satisfaction:

The things which all are satisfies the customers-
 The Product Quality
 The Unique features of the Product
 Good Pricing of the Product
 Tremendous designs of the Product
 Offers and discounts given by the company
 Fulfilling changing and new needs of the Customer
 Fulfilling important needs of the Customer
 Giving value and taking care of the Customer
 Helping customers and providing prompt service.
 Providing the promised service Accurately

The ways to measure Customer Satisfaction:

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Customer satisfaction is the very tricky things to measure because the minds of the customer are not conscious
and it keeps on changing according to the surrounding nature. But there are some tools are there to measure
the customer satisfaction, they are: -

 Customers Surveys

Customer survey is the main way to get customer feedback. Customer survey is the very best way to know
customer feedback, likes, dislikes and their wants and needs. Like this customer surveys will give all kind of
information that is needed to the customer and what they expect from us. So these all information will help in
measuring the customer satisfaction that which all things and factors of the product satisfy the customer.

The surveys can also do in other several ways that are through conversation over phone, or in e-mail. In case
to get the most excellent information, it is best to allow customers to answer questions on a weighted scale
that is stating that rate your scale of 1 to 5, with 1 indicating lowest that is complete dissatisfaction and 5
indicating highest that is complete satisfaction. Like this Customers surveys can be done. You may also repeat
the surveys to know the customer preferences over the changes in time.

 Understand Expectations

The first thing to measure Customer satisfaction is you have to know the customer expectation that is you
have to see what your customers look forward from you. It will sensibly gives you a idea of offering them a
better product what they expect from us. So first you have to find out the expectations of your customers in
terms of both service and products in order to make sure that company is meeting their wants and needs.

 Find out where you’re Failing

If you’re not meeting customer necessities or expectations, then you should hit upon out and search where and
how the disappointment is happening. You have to analyse about your product that –Are the products less
than what it is showcased in Advertising? Are the employees making promises cannot be met? Are the
customers services are not up to the mark? Are the products are not special and unique? Like this have to find
out in each and every segment the reason for failure. After this it is required to take a step to re-evaluate
organization abilities and capabilities. Knowing how to manage the employees will definitely have very good
effect in providing customer service.

 Pinpoint Specifics

In measuring customer satisfaction, you have to pinpoint each and every small specific point in their
purchasing that will specify whether a customer is pleased or not. And the data gathered by the customer

16
should be analysed correctly to find what is working and what isn’t. So, exploration in level of satisfaction
must contain more than just the overall experience. So, it is required to determine the each and every pinpoint
in the products or services they purchased. And also, what they liked or disliked about their sales interactions,
how the definite purchase compared to their needs and expectations and any suggestions if they need
enhancement in the product, all these points should be considered for measuring the satisfaction level of
customer. By knowing all these pinpoints in their purchase will help in measuring their satisfaction level. So
every small point also considered carefully.

 Assess the Competition

Customer satisfaction can be easily measured by comparing your products with the competitor’s products.
That is if you don’t know why customers prefer another brand over your brand, then it is not possible to
survive in the competition. So, in the survey process you have to ask customers about your competitors and
also compare your products to know what competitors are contributing and you are not. This will specify what
customers really expect from us and help to make strategy to provide a better one than the competitors.

These all sources will help in measuring the customer satisfaction and ensures the firm’s success.

Components of Customer Satisfaction

 A Perfect and Quality Product

A Perfect and Quality Product is one of the main component s of Customer Satisfaction. That is the perfect
and correct type of products will give the customer a satisfied level that what they need and it will give them
a satisfactory level.
 Product should be delivered in caring and friendly manner

The products that are delivered to customers should be a good one and while delivering the product the
employees of the company should take care of the customer that they should give respect and treat them in a
friendly manner that the customer should feel happy and satisfied by the good caring and friendly manner.
These kinds of good behaviour by the service people of the company will build a good relationship between
the customers.

 On time

The products and services should be reached on time. As time is the precious things to everyone, the company
people should take care of time. That management has to maintain their time perfectly that it should not waste
17
the time of the customers in getting the unique updated product in the right time. That it should not waste their
customer time in getting the perfect product. If the company promised to provide the product of customer that
is liked by them, then they have to provide the product on the promised date and time. This on time service of
the product to customer will in customer satisfaction.

 Fast and accurate response to the customer

If the customer is facing any problem with the product, the company people should respond very quickly and
have to give them a good service. That is the company people should be with an effective resolution process.
They should give fast accurate response to the customer’s orders, requests, and inquiries. These quick
responses will give a positive effect and atmosphere to the customer. For this quick response they have to be
updated. That is they have to be updated with information, improvements in their products and services
through new versions, following the trends. By doing like this they can give a fast and accurate response to
the customer.

IMPORTANCE OF TOPIC

 Customer Retention and loyalty can be earned

 A well-built marketing strategy can be done
 It identifies the happy and unhappy customers
 It builds a good bonding and relationship between the company and customers
 It is a key tool for the marketing management success
 It helps in updating customers’ needs and expectations
 It reduces negative word of mouth
 It helps to produce products according to customer needs

 It reduces customer dissatisfaction

 It helps you to go ahead from your competitors
 It helps to attract new customers.

NEED TO STUDY THE TOPIC

Management needs to know about customer preference information and their expectations in order to take a

18
valid and prosperous decisions. Every firm or company which is customer oriented and strives to provide the
users with customer friendly products and services have to know where the company stands from customer
perception and their needs and it tries to understand their future requirements Review on customer
satisfaction can deliver great or unfavourable result, yet conveying various advantages to administration. It
is also necessary to assess the satisfaction level among the customers and their loyalty towards the brands,
which helps in improving and maintain the product and service quality

CHAPTER 2

COMPANY PROFILE

19
TITAN INDUSTRIES

Titan Industries is the fifth largest manufacturer of wrist watches in the world and it is the main leading maker
of watches under the Titan, Fastrack, Sonata, Nebula, RAGA, Regalia, Octane & Xylys brand names. It is a
joint venture among the Tata Group, and the Tamil Nadu Industrial Development Corporation (TIDCO). The
product portfolio of TITAN includes mainly watches, accessories, and also precious items jewelry in both
contemporary and traditional designs. The business of watches of Titan is so good that watches are exported
to about 32 various countries of the world with assembling offices in Hosur, Dehradun. Under the Tanishq
brand name, Goaand manufactures is for valuable and precious jeweler making. In India it is the only national
jewelry brand.

Watch division of Titan was started in 1987. At beginning it was the third watch company in India after HMT
and Allwyn. Titan created a association with Timex, which continued upto1998, and did a powerful network
of distribution all over India. As of 2010, Titan watches description for a 60% share of the total Indian market
and through marketing subsidiaries it sold in about 45 countries based in London, Aden, Dubai and Singapore.
Titan watches are also sold in retail shops in India but it is still under the control of Titan Industries.
Titan Industries is proud to have the very good world's slimmest wrist watch - Titan Edge. Delivered
indigenously following five years of innovative work, the Titan Edge has an aggregate slimness of only 3.6
mm and a skinny development of 1.17 mm.

Titan also offers Steel, Regalia, Raga, Fastrack, Technology, Nebula, Bandhan, Sonata, Octane, and also
other special products. Its manufacturing plant is in Hosur, Tamil Nadu. Fastrack is a well-accepted and most
popular brand in India. Fastrack watches are available in a variety of designs, size, styles, shapes and colours.
On 4 March 2010, Titan Industries Announced the dispatch of its first Titan leader store is situated at Opposite
Shoppers Stop, Bandra Linking Road, Mumbai, India. Store is an ample of 2,500 sq. ft (230 m2) and houses
more than 1600 watches on display from Titan like Purple, Automatics, Orion, Raga, Edge, Nebula, and some
more. On November 16, 2011, Titan Industries obtained Swiss watch maker Favre-Leuba for Euro 2 million.

Titan watches, the chief watchmaker entered to the style watches group with the launch of the Titan Fastrack

20
watches in the year 1998. As the development of fashion industry inclined the watch industry during this era,
Titan watches on track with the trendy Titan Fastrack watches collection

Remarkably creative innovation combined with a new feeling of style in the Titan Fastrack watches made a
big impact particularly with young people. Mass market mark with a solid nearness at the lower end. 'Mass
with class ‘equally well known with men and ladies. Mark use = £339,305 - £407,166 mark building. Esteem
for cash. Titan positions exceedingly in all overviews. Organization is currently quick to interpret its image
leverage into benefits.

HTSE Technology
The Titans HTSE Technology that is -High Tech Self Energized was launched in the year 2011 July. They are
the HTSE gathering of watches which run on light. These technological watches can be charged low 200 lux
of light which makes them chargeable with light even from a candle. In its public statement the organization
said that "HTSE draws its outline motivation from the most complex self-empowering bodies worked by
humanity space stations, satellites and spaceships. Directed at the well informed, youthful urban male, this
ultra-present-day variety is genuinely an encapsulation of style and innovation." These watches are at current
accessible at select outlets in select urban communities all through the world.

PRECISION ENGINEERING DIVISION

Precision Engineering Division of Titan was started in 2002. It has become one of the main manufacturers of
Precision Parts for Automotive.
The various kind of goods includes pointers, dashboard clusters like Fuel Gauge, Temperature Gauge, Gear
Shift Indicators, Clocks for Automobiles and any kind of Injection molded Plastic parts, Electromechanical
Assemblies for automobiles, all kinds of pressed and turned parts for automobiles. The Tooling Sector of
Precision Engineering Division delivers an extensive variety of Press Tool, Molds, Jigs, and Fixtures for
various ventures.

FACE OF TITAN

The Company in additionally run one of a kind challenges in the retail industry call the Face Of Titan contest
to identify and recognise the most skilled Sales person, Manager & Service personnel Technician & Cashier.
These Face of Titan help in enhancing and building up the Human assets of the organization to make their
best in filling in and in addition their self-improvement.

21
The challenge perceives the best in light of an arrangement of parameter give a measure of general
improvement of the person of classes said above and is not exclusively on deals. This program was imagined
as an evaluation place for forefront staff - by Aparna Ponnappa, roused around then by staff who

communicated their yearning to "perform" and 'be perceived' for what they do. This program empowered the
retail wing of Titan to engage staff to assume responsibility of their own aptitude improvement and gave them
a solid and fun condition to contend and grandstand their own particular ability. The challenge jumped into
the computerized time from the year 2006-07 with the presentation of IT in the catching of studyinformation
over the majority of its 200+ stores, that year likewise observed the presentation of the information assembled
at the store level being utilized to profile the staff at different levels utilizing a custom manufactured electronic
programming created by I.GEN Labs.

TITAN company has good status in Indian stock market. In a study it is reported that Sonata has reached to
top hundred trusted brands of India - it is by the Brand Trust Report conducted by some research advisory
report. The same report has also ranked Titan as 10th Most Trusted Brand.

FASTRACK

Fastrack is one of the main popular and known brands for the young age group which is part in Titan brand.
Many brands have subordinate outline which target a different section of population. This helps to maintain a
unique identity for each brand and also helps the mother company to differentiate between the focus areas for
the different brands. Thus, in India, Titan is a corporation which is part of the renowned Tata group and it has
launched Fastrack which intends mostly to the young generation.

At the point when a brand focuses on the adolescent, it needs to continue changing and re-evaluating itself to
remain tuned in to the most recent patterns in the market which draw in the urban youth. Fastrack
correspondingly is one such brand which has been changing its product offerings, presenting new components
in frill and in outlines with the goal that it draws in the urban youth of India today. It is said to be one of the
innovative youth brands. At first the brand begun off with watch outlines which were in vogue and young;
from that point forward it has moved onto eyewear, packs which are again advertised in various eye getting
ways. While watches are promoted as wrist apparatus, shades are showcased as eye rigging. The battles for
Fastrack are uproarious and stunning, with slogans open to elucidation and creative plans in their showrooms.
Today Fastrack provides a variety of range of products for the young people.

22
Alternate accumulations are all justified regardless of a look. The Colour Play gathering has tasteful outlines
which display square cases with striking designed dials and have croc skin design calfskin straps. The
Aluminium go highlights gleaming white watches of various plans while the Basics gathering highlights
watches in plastic and elastic. Accordingly, there is adequate decision with regards to looks for young fellows
and ladies among Fastrack watches.

FASTRACK VISION AND MISSION

Vision:

We create enriching higher experiences for the people we touch and considerably impact the world we work
in.

Mission:

We will do this through a pioneering spirit and a caring, value-driven culture that fosters innovation drives
performance and ensures the highest global standards in everything we do and work.

Values and Standards:

 Total customer orientation

Fastrack gives first and foremost importance and preference to their customers. Their products and
service always a customer oriented and for customer fulfilment.

 Employee appreciation

They treat their employees with value and respect. They treat every employee as same with good
respect and Endeavour to fulfil their needs and aspirations. Like these giving values and standard to
the employees is also one of the missions of the Fastrack.

 Performance culture and team work

At Fastrack high performance is a way of life and is nurtured by team work. So by this good
23
performance and teamwork the company is in the top stage.

 Creativity and innovation

Fastrack is best at its innovation and creativity. It is driven by innovation and creativity and focuses
on smarter approaches and newer technologies.

 Passion for excellence

In all stage company is ceaselessly strive for fineness and better one

 Corporate Citizenship

Fastrack assure that part of their capital is invested in environment, social and community betterment.

Fastrack Brand Positioning:

Bold

Fashionabl
Fastrack e
e

Young

Fastrack mainly concentrate on their brand positioning. Fastrack is one of the main fashion accessory brands
in India. It mainly targets on the young youth of India with the strong Brand Positioning strategy. The Fastrack
Brands are so popular in India by their strong positioning words like Bold, Affordable, Young and
Fashionable. They mainly sets their all products according to this and popularize that their products are youth
oriented, very fashionable and stylish, affordable that is like the products are inexpensive and reasonably
priced along with good fashion and boldness in it. And also, it is a trendy and offers a product with lot of

24
variety. All these are main agenda and positioning strategy of the Fastrack. Like this they mainly stress these
4 words among the customers and popularize their brand image among the youths.

So by this great strategy and brand positioning today Fastrack is so popular and it became one of the main
profitable sources for the Titan industries.

CUSTOMER SEGMENTATION

After conducting an in-detail study, they recognized the three different market segments for its watches. The
segment continued at using advantage and profits level as the bases. They first considered the high income/
elite consumers who were purchasing a watch as a style ornament not as a normal tool showing time.

The next segment consisted of customers who favoured some fashion in their watches but to them price did
matter. The third segment they considered of the lower-income consumers who looks into a watch mainly as
a time-keeping instrument and purchased mainly on the basis of price in which they give more value to money.

A VAST DISTRIBUTION NETWORK OF FASTRACK

PROMOTION
25
Before Titan ‘s arrival on the scene, Indian watches manufacturers looks at advertising as a rather needless
expense. Titan looked into advertisement as a very important investment, so they went on it as fashioning
brand-building criteria that has since been embraced by the entire industry. The brand has always invested
huge in popularizing its products, through tools such as catalogue ‘advertising and by utterly utilizing the print
media regularly and effectively to merchandise models Advertising of this type enabled consumers to shop
off the page ‘and make a decision which model they required.
Titan has made a check in TV advancements where its ads have been seen for the music tracks utilized as a
part of them. In 1991, Titan made an arrangement of three special movies to build up the gifting ‘market.
Watches had dependably been an extraordinary blessing top choice.

Publicizing aside, the origination and feeling of Titan's own retail outlets have been a capable special
instrument for the organization's items, These are deliberately situated in the fresher parts of urban areas and
towns, dependably with a profoundly refined and uniform facing with window shows that welcome individuals
to stroll in. Inside, the Titan encounter assumes control.

Continuous improvement and modernization of retail design made people to get attract on the store. The
constancy remainder in the relationship that Titan has supported with purchasers has been enhanced by the
brand's system of after-deals benefit focuses, which is supreme for its range and responsiveness. Adding to
the benefits that consumers can expect are Titan‘s high-end watch-care centres which offer showroom-like
luxury and comfort.

The brand found that the objective gathering which comprised of undergrads couldn't bear the cost of this
brand. Amid 2003-04, the brand went in for a repositioning exercise focusing on official fragment and in
addition easy-going watch portion. It was a self-destructive trial. The brand deals came down to Rs 23 crore.
The adjustment in situating did not fit well with the brand. The buyers were not willing to pay Rs 1200-2900
for a watch that do not have the official picture. Then in 2004 that Fastrack propelled its scope of shades.
Sunglasses went superbly as a brand expansion for Fastrack. The shades offered an incredible open door for
the brand. Because no Indian brand of shades were there before Fastrack.

The brands accessible were Ray-Ban and other outside brands which were foreign. These brands were damn
costly and regularly buyers picked nearby unbranded shades. In 2005, the brand went for another repositioning
exercise with another logo and new situating.

The operation, the position and the rate was a great success. The brand sale boomed to Rs 45 crore. The
26
sunglasses also contribute severally to this sales boost and improvement. The following points are the main
brand values that adopted by Fastrack:
 Trendy and stylish
 Valid and reasonable Pricing
 Fresh and good Communication to attract the young consumers.

COMPETITORS OF FASTRACK

The success of each and every business is mainly dependent on how brilliantly it faces the competition by the
competitors.

The main competitors of Fastrack are:

 Timex
 Swatch
 Casio
 Seiko
 Tommy Hilfiger
 Diesel
 Hublot
 Citizen
 Fossil

PRICING

The price of the Fastrack model starts from Rs.1000 to Rs 2,500 and was designed completely keeping in
mind to attract youths and giving value for the money. Titan ‘s main pricing intention is to kill Competition.
Being it is an Indian firm and knowing the advantages of the Indian market with the dynamics of the western
market the corporation has made itself a place and difficult to achieve this place by foreign players.

SWOT Analysis

Strengths

 Fastrack has a high youth connect – it has positioned as a youth stylish brand

27
 It has a powerful distribution channel that is more than 158 exclusive stores in 79 major cities of India.
 It is one of the main popular brands in India
 The excellent and refreshing advertising and brand visibility of Fastrack products is also one of the
strengths to the brand
 It has a strong backing and support of a parent brand.
 The Fastrack products changes with the latest trends in fast changing in their designs and features.
 The products are Trendy and affordable
 Fastrack has a different range of collections.
 Fastrack products are available in their own outlets and also in other stores, supermarkets, malls and
also through online.

Weakness

 Limited Global reach in spite of being one of the most popular brands in India.
 It mainly concentrates on only one particular segment of the age group.
 Products have a short life due to changing trends.
 In Fastrack there are not much multipurpose watches.

Opportunities

 There is a large number of fast-growing youth segment presents growth opportunities.

 Global penetration would help the Fastrack brands to target the younger youths of all other developed
countries.
 Financial position is strong and has a good market in India.

Threats

 Tough competition in watches and also in other products

 Youth segment is price sensitive
 Entry of foreign players and also local players
 Chances of entrances of new companies.

28
REVIEW OF LITERATURE

Customer satisfaction process (adopted from (Engel,Blackwell et al. 1995), p. 143-154, 177).
According to themodel, the customer decision-making process comprises a need-satisfying
behaviour and a wide range of motivating and influencing factors.
Customer satisfaction has been a popular topic in marketing practice and academic
research since Cardozo’s(1965) initial study of customer effort, expectations and satisfaction.
Despite many attempts to measure and ex-plain customer satisfaction,
there still does not appear tobe a consensus regarding its definition (Giese and Cote, 2000).
Customer satisfaction is typically defined as a post consumption evaluative
judgement concerning a specific product or service (Gundersen, Heide and Olsson, 1996).
It is the result of an evaluative process that contrasts prepurchase
expectations with perceptions of performance during and after the
consumption experience (Oliver, 1980).

In educated societies, the human brain has been trained to analyze text in a way that a reader is able to
interpret writing as whatever he or she sees in the meaning of the words by analyzing the context in
which the text was written. Through teaching people to read and analyze literature, the educated society
has become more accustomed to picking apart the words they are reading. That same process, however,
does not hold true for the human perception of images. Through societal norms, we have grown
accustomed to accept images as truth without using the same analytical process to pick apart images in
the way we do text. The human perception of ―truth in images plays a major role in the modern day
trend of manipulating photographs. In this increasingly digital age, photographs can be manipulated to
portray an illusion of whatever the manipulator wants the picture to be. This can be especially
prevalent in print advertising, where the main goal is to influence the needs or desires of a
consumer with persuasive images. (Barry, Ann Marie Seward: Visual intelligence, 1997.)World of time
keeping in general and mechanical watches in particular is a fascinating and complex field. Highly
complex micro-mechanical systems, the history of development of movements and design trends and
political and personal intrigues of industry provide for interesting reading and endless opportunity for
research. (David S Landes; Revolution in time,2004).Titan's play in the lifestyle category is similar to
what US watch and accessory brand Fossil did --diversifying into eyewear, handbags, jewellery, shoes
and apparel (in some geographies). Titan

Industries, which started as a watch brand in 1984, is taking a fresh gamble--to turn into a full-scale
lifestyle company. The firm's youth brand Fastrack will drive this transformation, an effort partly to
ensure that the parent brand Titan is shielded from any risk. Fastrack is already into watches and
eyewear, and now it is looking at categories like bicycles, helmets, shoes and apparel. (Economic Times,
10 march 2012) Every year hundreds of wrist watches are introduced.
Some features innovative designs or mechanical improvements and others available only in limited
editions, keeping the field interesting for collectors. (Peter Bron; Wrist watch annual, 2004)
Extraordinarily innovative technology coupled with a fresh sense of style in the Titan Fastrack watches
became an instant rage especially with youths. In the Titan portfolio it is believed to contribute a 4% value.
Significant rise in Titan Fastrack watches sales has subsequently compelled Titan to establish it as a
separate brand. More than a need, wristwatch has now become a fashion statement among the youth.
They don ‘t consider the Fastrack brand as cheap but affordable. Titan has made a mark in television
promotions, too, where its advertisement shave been noticed for the music tracks used in them. In 1991,
Titan created a set of three promotional films to develop the gifting‘market.
29
Watches had always been a great gift favorite, but Titan was convinced that much of the segment ‘s
potential lay untapped. (Times magazine, March 2001) Customer perception Perceptions are always
considered relative expectations. Because expectations are dynamic, evaluation may also shift over the
time from person to person from culture to cultures.
Customers perceive the services in terms of the quality of the service and how satisfied they are all over
with their experiences. These customers-oriented terms quality and satisfaction have been the focus of
attention for executives and researchers alike over the last decade or more.
Companies today organize so that they can compete more effectively by distinguishing themselves with
respect to service quality and improved customer satisfaction

Customer Satisfaction
30
Satisfaction is the customer ‘s fulfilment response. It is a judgment that a product or a service feature, or
the product or service itself, provides a pleasurable level of consumption – related, fulfilment. In minimal
technical terms, this definition can be translated to mean that satisfaction is the customers evaluation of a
product or service in It is also important to recognize that, to measure the customer satisfaction at a
particular point of time as if it were static, satisfaction is a dynamic, moving target that may evolve over
the time, influenced by a variety of factors. Particularly when product usage or the service experience
takes place over the time, Reliability Responsiveness Assurance Empathy Tangibles Reliability
Responsiveness Assurance Empathy Tangibles Reliability Responsiveness Assurance Empathy Tangibles
Interaction quality Physical environment quality Outcome quality Service quality Product quality Price
Situational factors Customer satisfaction Personal factors satisfaction may be highly variable depending
on which point the usage or experience cycle is focused on.

Determinants of customer satisfaction

Customer satisfaction is influenced by specific product or service features and by perception of quality as
suggested in Fig 2.6. Satisfaction is also influenced by customers
Product and service features: Customer satisfaction with a product or service is influenced significantly
by the customer ‘s evaluation of product or service features.
Customers of services will make trade – offs among different service features depending on the type of
service being evaluated and the criticality of the service.
Customer emotions: Customer ‘s emotions can also affect their perceptions of satisfaction with products
and services. These emotions can be stable, pre-existing emotions.
Attributions for service success or failure: Attributions – the perceived causes of events – influence
perceptions of satisfaction as well.
When they have been surprised by an outcome (the service is either much better or much worse than
expected) consumers tend to look for the reasons, and their assessments of the reasons can influence their
satisfaction.
Perceptions of equity or fairness: Customer satisfaction is also influenced by perceptions of equity and
fairness.
Customers ask themselves: have I been treated fairly compared with other customers? Did other
customers get better treatment, better prices, or better-quality service? Did I pay a fair price for the service?
Was I treated well in exchange for what I paid and the effort I expended? Other customers, family
members and coworkers: In addition to product and service features and one ‘s own individual feelings
and beliefs, consumer satisfaction is often influenced by
other people like other customers, family members and co-workers.

OUTCOMES OF CUSTOMER SATISFACTION

Individual firms have discovered that increasing the levels of customer satisfaction can be linked to
customer loyalty and profits. There is an important relationship between customer satisfaction and
customer loyalty.
This relationship is particularly strong when customers are very satisfied.
Thus, firms that simply aim to satisfy customers may not be doing enough to endanger loyalty – they must
instead aim to more than satisfy or even to delight their customers.
At the opposite end of the satisfaction spectrum, researchers have also found that there is a strong link
between dissatisfaction and disloyalty – or defection. Loyalty can fall off precipitously when customers
reach a particular level of dissatisfaction or when they are dissatisfied with service/ product.

31
Brand loyalty

The degree to which consumers are committed to particular brands of goods or services depend on no. of
factors: the cost of changing brands(switching cost), the availability of substitutes,
the perceived risk associated with the purchase, and the degree to which they have obtained
satisfaction in the past etc.
It may be more costly to change brands as awareness of substitutes is limited, and because higher risks
may accompany services, consumers are more likely to remain customers of particular companies with
services or goods.
Greater search costs and monetary costs may be involved in changing brands of services than in changing
brands of goods.
Because of the difficulty in obtaining information about services, customers may be unaware of
alternative or substitutes for their brands, or they may be uncertain about the ability of alternatives to
increase satisfaction over present brands. If consumers perceive greater risks

32
CHAPTER-3

RESEARCH METHODOLOGY

Research Journal on Customer Satisfaction towards Titan and its Subsidiary brands

The public and private sectors always have given more concentration to the conception of customer
satisfaction from the last couple of years. Naturally, the management of the organization gave importance to
the customer satisfaction and they requested their staff to treat the customer in a good way and also suggested
to do study on customer needs and their satisfaction. A forecaster or researcher should analyse the theory of
customer satisfaction in order to check and get detailed information about it.
More prominently, in categorizing and to have a weight for any dimensions or calculations, the forecaster
requires imagining and presuming some variety of models of the subject matter.
The investigator must utilize extremely unequivocal conceptualizations of the topic (at the end of the day,
models) on the off chance that she/he hopes to do research and examination that has pertinence for hierarchical
choices. This paper is isolated into a few segments. Of course, an execution more horrendous than foreseen
results is dissatisfaction (negative disconfirmation). Contemplates demonstrate that consumer loyalty may
have immediate and roundabout effect on business comes about. Luo and Homburg (2007) reasoned that
consumer loyalty decidedly influences business gainfulness. There are a greater amount of explores and
studies have examined the association with client conduct designs (Dimitriades, 2006; Olorunniwo et al.,
2006; Chi and Qu, 2008; Faullant et al., 2008).According to these studies, customer satisfaction increases
consumer loyalty, and it leads to repurchase intentions and customer publicity by the word-of-mouth.

STATEMENT OF THE PROBLEM

Customers are the most excellent source of information that will help in getting all kind of data and
information. To develop an presented product or service or if the company is planning to launch something
fresh and original. There is no replacement for this.

To achieve something firstly you have talk directly to your customers to know your odds and mistake which
will be a good indicator in identifying the mistake and provide better by reducing the mistake. When you
frequently and continuously ask the customers for feedback and engage them in discussion then, it will be the
33
main parts to the success of your business.

In the backdrop of the above the problem is stated as “A Study on Customer Satisfaction towards Fastrack
Brands.”

Importance of the Study:

Customer satisfaction plays a vital role in companies’ sales and services to customers and also to get a good
brand image in the market. Customer satisfaction also shows a company how well the product or service has
excelled in order to surpass customer basic needs for purchasing a product. Customer are the whole and soul
of any business, they do provide a changing metrics for all companies be it servicing, manufacturing or trading
companies etc. Customer satisfaction is very much important in today’s changing scenario because the shelf
life of goods and services are shrinking and a good marketer and a company needs real time preference data
so on to manufacture goods according to customers changing needs
.
SCOPE OF THE STUDY

The customer needs, preferences, purchase, attributes of products affecting the customers and satisfaction
level of the respondents give study a wide and large scope for analysis.

OBEJECTIVES OF THE STUDY

 To study the level of satisfaction among the customers of Fastrack brand.

 To know the wants and needs of the Customer.
 To study the relationship between customer satisfaction and their retention.
 To provide suggestions, in improving the customer satisfaction and the company sales and
Profitability.

Methodology:

The research methodology is a procedure which is used to collect data for the reason of building business
decisions and in the present case it is the decision related to marketing management. The methodology
includes publication research findings, interviews, surveys and other research techniques and is
comprehensive of both present and historical information

SAMPLING

Collection of data from whole universe that too every time is not a necessary work. A small representative

34
sample may serve the purpose. A sample means a small grouping taken in a large extent. This small group
should be emanative cross section and really “representative” in character. This selection procedure is called
sampling.

Sample size: Samples are devices for learning about outsized ample by concentrating a few individuals. The
selected sample is 50.

32 | P a g
Sampling Method
The sampling method that is used in the present dissertation/research work is convenience sampling which is
also known as Non-probability sampling method.

Sources of data
 Primary source
 Secondary source

Primary data
Primary data is a term for data gathered from a source. That is data is collected directly from the source and it
is the first level of source. That is primary data are collected through interaction, discussions through
employees and also by giving questionnaires. All these are the first source that is primary data.

Secondary data
These are the forms of data which are most probably readily available in the forms of magazines. These data
were already collected and analyzed by someone else previously.

Refers to the existing available sources of information such as

 Documents of the departments concerned

 Reference books.
 Website sources
 Journal, research books for review of literature, articles and magazines.

TOOLS FOR DATA COLLECTION

Data collection is the method of collecting and measuring data on targeted variables in an organized correct
way, in that later one can answer relevant questions and evaluate outcomes of the result. The main aim of each
35
and every data collection is to acquire valid evidence that can translate to prosperous data analysis and allows
building and developing an accurate and believable answer to questions.

Questionnaire:
A questionnaire is a studied instrument consists of a sequence of questions and other various prompts for the
purpose of collecting information from respondents. Even though the questionnaires are planned for statistical

analysis of the responses, this is not always the case. The questionnaire was invented by the Statistical Society
of London in the long back.

Questionnaires have recompense over some other types of surveys in that they are very less cost and cheap,
and do not require as much effort from the questioner as verbal or telephone surveys, and often have
standardized answers that make it simple to compile data. Be that as it may, such institutionalized answers
may disappoint clients. Polls are likewise composed in the way that the person who understands it must have
the capacity to comprehend the inquiries and react to them. Here questionnaire is given for customers to collect
primary data.

The data is collected from questionnaire. Percentage analysis is used to analyse the collected data.

PLAN OF ANALYSIS

Percentage Analysis:
It is the method to signify raw streams of data as a percentage (a part in 100 - percent) for better
understanding of collected data.
Pie chart and bar chart will be used for analysis.

Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of
discovering useful information, suggesting conclusions, and making a good decision. Information examination
has various methodologies, enveloping assorted strategies under an assortment of names, in various business,
science, and sociology spaces

In this study Pie Chart is used for questionnaire which is collected from the customers.

The data collected is analysed and shown in the form of:

36
 Tables
 Charts
 Graphs
 Comparative diagrams/figures.

On the basis information collected by the questionnaire the charts and the tables will be prepared. The
tabulated data and will be analysed with the help of percentages. The result thus obtained will be depicted
through charts and graphs. Inferences will be drawn and suitable suggestions will be given.

CHAPTER-4

DATA ANALYSIS AND INTERPRETATION

This chapter consists of the data analysis and findings and interpretation of research. The chapter consists of
the analysis of data collected from the respondents which will be useful in providing valid information to the
organization to take necessary decisions in future.

The analysis and interpretation are the true reflection of the data collected from the respondent’s through
questionnaire.

1. Gender of the Respondents

Table showing the Gender of the Respondents

GENDER NO OF RESPONDENTS

Male 49

Female 31

Total 80

Analysis

The above analysis shows that 49 percent of respondents are Male and 31 percent of the respondents are
Female.

37
Chart showing the Gender of the Respondents

no of

MALE FEMALE

Interpretation

The above analysis shows that the majority of the respondents are the Male that is around 49 percent by this
it can be interpreted that Male population is more in preferring Fastrack Brand products.

2. Preferred Fastrack brand Product

Table showing the Fastrack product used by the Respondents.

SI. NO PRODUCTS NO.OF

RESPONDENTS
1 Wrist watches 47
2 Bags 17
3 Wallets 2
4 Sunglasses 14
TOTAL 80

Analysis

The above table infers that 47 percent of the people uses Wrist Watches of Fastrack brand,17 percent of the
people prefer Bags, 2 percent of the people prefer Wallets and 14 percent of the people prefer Sunglasses of
the Fastrack brand product.

38
Chart showing the Fastrack product used by the Respondents.

60

40

20

wrist bag wallet sunglass total

Interpretation

The above analysis shows that Wrist Watches are the most purchased product by the customers rather than
the Bags, Sunglasses and Wallets. As Fastrack is mainly a Wrist Watch company and as it offers a variety and
trendy looks of watches with affordable price, majority of the people uses Fastrack Wrist Watches.

3. Customer opinion on the worth of the Fastrack Brands

Table showing number of customer’s opinion on the worth of Fastrack brands

OPINION NO.OF
RESPONDENTS
Yes 68

No 12
TOTAL 80

Analysis

The above table shows that 68 percent of the respondents are satisfied with the Fastrack brands and they says
it is a worth and 12 percent of the respondent says that they are not satisfied with the Fastrack brands and it’s
not a worth purchasing brand.

Graph showing number of customer’s opinion on the worth of Fastrack brands

39
no of
respondents

yes
no
total

Interpretation

The above analysis shows that 68 percent of the customers are satisfied with the worth of the brands and 12
percent are not satisfied with brands and they say it is not a worth. So, it can be interpreted that the products
offered by the Fastrack brand met the expectation of the customer.

4. Most interesting Ads to the customer

Table showing the most interesting ads to the customer.

SI.NO MOST NO.OF

INTERESTING ADS RESPONDENTS
1 Sign Boards 5
2 Magazines 14
3 Newspaper 20
4 TV Ads 41
TOTAL 80

Analysis

40
The above table shows that for 41 percent of the respondent’s TV Ads are the most interesting ads, 20 percent
is on News Papers, 14 percent is on Magazines and 5 percent says sign boards are interesting Ads to them.

Graph showing the most interesting ads to the customer.

no of

Interpretation

The above analysis shows that a greater number of the customers they feel TV ads are the most interesting
marketing tool for them to buy the Fastrack Product. It shows that TV Ads and News Papers mainly attract
the customers to buy the Fastrack products rather than the Magazine and News Papers Ads.

5. Availability of all accessory products in one Outlet

Table showing the opinion of customers about the availability of all accessory products in one Outlet

SI.NO OPINION NO.OF

RESPONDENTS
1 Ok 11
2 Average 15
3 Good 40
4 Excellent 14
TOTAL 80

41
Analysis:

From the above table it can be seen that 40 percent of respondent are of the opinion that availability of all
products in one Outlet is good, 15 percent of the respondents expressed that it is average, according to 14
percent of the respondents it is excellent, and remaining 11 percent of them expressed their opinion that it is
ok.

Graph showing the opinion of customers about the availability of all accessory products in one Outlet

no of

ok average good excellent total

Interpretation:

The above analysis shows that most of the respondents that is around 40 percent of the customers feel that
availability of all products in one Outlet is good. It shows that the availability of all Fastrack products like
Wrist Watches, Bags, Sunglasses, Wallets and Helmets in Outlet is very helpful and good to the Customers.

6. Awareness of Store locator on Web?

Table showing customer awareness about Store locator on Web.

OPINION NO. OF
RESPONDENTS
Yes 73

No 7
TOTAL 80

42
Analysis

The above table shows that around 73 percent of customers are aware about store locator on web and 7 percent
of the customers are not aware and they don’t know about store locator on web.

Graph showing customer awareness about Store locator on Web.

no of
respondents

yes
no
total

Interpretation

The above analysis helps to interpret that the almost 73 percent of the customers are aware and know about
the availability of store locator on web. This shows that a greater number of customers who visits Fastrack
outlet is aware of store locator on web.

7. Store locator in saving time

Table showing customer response about the Store locator in saving time.

RESPONSE PERCENTAGE
Agree 60
Neutral 14
43
Disagree 6
TOTAL 80
Analysis

The above table shows that 60 percent of the respondents agreed that store locator is helpful in saving the
time, 14 percent of them are neutral on this, and only 6 percent of the respondent disagreed on this.

Graph showing customer response about the Store locator in saving time.

percentage

agree neutral disagree total

Interpretation

By the above analysis it can be interpreted that the majority of the customers agree that the store locator on
web will help in saving their time by showing the nearer Fastrack outlet around their location. By this it can
be interpreted that the store locator on web is useful to the customer.

8. Comparison of Fastrack watches with Timex watches on Attractive Packaging

Table showing the respondents opinion about the Fastrack watches comparison with Timex watches
on the Attractive Packaging

44
RESPONSE PERCENTAGE
Strongly Agree 23
Agree 27
Neutral 12
Disagree 18
Strongly Disagree 0
TOTAL 80

Analysis

As from the above table it can be seen that 33 percent of the customer strongly agree that Fastrack watches
are better than Timex watches in attractive packaging, 37 percent of the customer agree to this, while 8 percent
of them neutral on this, and 22 percent disagree that Fastrack watches are superior comparing to Timex
watches in attractive packaging.

Graph showing the respondents opinion about the Fastrack watches comparison with Timex watches
on the Attractive Packaging

80

60
percentag

strongl agre neutra disagree total

y strongl

Interpretation

The above analysis shows that around 50 percent customers are on the Fastrack watches side that they agree
on the fact that Fastrack watches packaging are very attractive and good comparing to the Timex watches, this
shows that customers are satisfied and attracted by the Fastrack Company watches packaging rather than the
Timex watches packaging.

9. Trendy looks of Fastrack watches

45
Table showing the respondents opinion about the Trendy looks of Fastrack watches

RESPONSE PERCENTAGE
Strongly Agree 42
Agree 15
Neutral 3
Disagree 14
Strongly Disagree 6
TOTAL 80

Analysis

The above table shows that 42 percent of the respondents strongly agrees that the Trendy looks of the Fastrack
is satisfying, 15 percent of the respondents agrees to this, while 14 percent disagree this, 6 percent strongly
disagree and remaining 3 percent are neutral on this.

Graph showing the respondents opinion about the Trendy looks of Fastrack watches

percentag

strongly neutral disagree total

agre strongly

Interpretation

The above analysis shows that majority of the respondents are satisfied with the Trendy looks of the Fastrack
watches. It shows that maximum number of customers used to prefer Fastrack watches by their Trendy looks.

46
10.Fairs and Exhibition conducted by the Fastrack for marketing

Table showing customer’s opinion about the Fairs and Exhibition conducted by the Fastrack

OPINION PERCENTAGE
Agree 53
Neutral 25
Disagree 2
TOTAL 80

Analysis

From the above table it can be seen that 53 percent of the respondents agrees that Fairs and Exhibition
conducted by the Fastrack brands are good, 25 percent respondents are neutral on this and only 2 percent of
the respondents disagree that Fairs and exhibition conducted by the Fastrack brands are not good.

Graph showing customer’s opinion about the Fairs and Exhibition conducted by the Fastrack.

percentag

agree neutral disagree total

Interpretation

The above analysis shows that the majority of the customer that is around 53 percent of them agrees that Fairs
and Exhibition conducted by the Fastrack is a marketing tool as it attract huge audience and attracts the people
47
in a fair, so it is one of the biggest marketing tools for company to take the attention of the customers on their
products and brands.

11.Fastrack as a fashion accessory

Table showing respondent’s opinion about Fastrack as a fashion accessory.

OPINION NO.OF
RESPONDENTS
Yes 78

No 2

TOTAL 80

Analysis

The above table shows that 78 percent of the people accept that Fastrack as a fashion accessory, whereas only
2 percent thinks that it is not a fashion accessory.

Graph showing respondent’s opinion about Fastrack as a fashion accessory.

no of
respondents

yes

no

total

48
Interpretation

The above analysis shows that almost all peoples accepts that Fastrack is a fashion accessory and only 2
percent of people reject this , by this it can be interpreted that the customers are very much satisfied with the
fashion accessory products offered by the Fastrack and they accept it as good fashion accessory.

12.Cash on Delivery and Money back offers of Fastrack Products.

Table showing respondent’s opinion about the Cash on Delivery and Money back offers of Fastrack
Products.

OPINION PERCENTAGE
Satisfactory 38
Not satisfactory 3
Good 22
Excellent 17
TOTAL 80

Analysis

The above table shows that 38 percent of the respondents feels that the cash on delivery and money back offers
of Fastrack product is satisfactory, and 22 percent of respondents feels it’s good, 17 percent feels that it is
excellent and only 3 percent of the respondents feels it’s not satisfactory.

Graph showing respondent’s opinion about the Cash on Delivery and Money back offers of Fastrack
Products.

percentag

satisfactor not goo excellen total

49
Interpretation

The above analysis shows that the cash on delivery and money back offers of Fastrack products has the
majority of the satisfactory rating so it can be interpreted that the customers are satisfied by the these kind of
facilities given by the Fastrack, and this will lead to give them these kind of good facilities further for the good
quality service to the customer.

13.The pricing of the Fastrack products

Table showing respondent’s opinion about the pricing of the Fastrack products

OPINION PERCENTAGE
Good 16
Very Good 24
Excellent 40
Not Good 0
TOTAL 80

Analysis

The above table shows 40 of the respondent’s feels that the pricing of the products is excellent, 24 percent
respondent’s feels that it is very good, and 16 percent of the respondents feels that pricing of the Fastrack
product is good, and no one feels that it is not good.

Graph showing respondent’s opinion about the pricing of the Fastrack products

good
very
good
excellent
not good

50
Interpretation

The above analysis shows that the majority of the customer feels that the pricing of the Fastrack products are
very excellent and good. By this it can be interpreted that customers are very satisfied by the good pricing of
the products when compared to other brands.

14.Range of Fastrack Product

Table showing respondent’s opinion about range of Fastrack Product.

OPINION NO.OF
RESPONDENTS
Yes 73

No 7

TOTAL 80

Analysis

The above table shows that 73 percent of the customers are satisfied with range of products that is offered by
the Fastrack and 7 percent of the customers are not satisfied with range of Fastrack products.

Graph showing respondent’s opinion about range of Fastrack Product.

no of

yes
no
total

51
Interpretation

The above analysis shows that majority of the customers are satisfied with the range of Fastrack products.
This shows that Fastrack has a very good variety and range of products that are liked by the customers. So it
shows that customers are satisfied by the range of Fastrack products.

15. The reason to choose Fastrack over other brands

Table showing the factors to choose Fastrack over other brands.

OPINION NO. OF RESPONDENT

Cutting Edge Technology 34

Advanced Work station 18

Good Design 28
TOTAL 80

Analysis

The above table shows that 34 percent of the customers feels that cutting edge technology of the Fastrack is
the leading factor to choose Fastrack over the other brands, 18 percent customers feels that advanced work
stations where as 28 percent of the customers feels good design of Fastrack leads to choose the Fastrack over
the other brands.

Graph showing the factors to choose Fastrack over other brands.

no of

52
cutting edge advanced good design total
technology work station
Interpretation

The above analysis shows that majority of the customers like to choose Fastrack over the brands mainly
because of the good technology of the Fastrack in manufacturing the product. It shows that Fastrack products
use good technology to manufacture their products and they are successful in it.

16.Rating the Fastrack product considering overall factors on scale of 5?

Table showing the respondents ratings for the Fastrack product.

RATINGS PERCENTAGE
1 0
2 6
3 25
4 35
5 14
TOTAL 80

Analysis

The above table shows that 35 percent of the respondents rated 4 to the overall factors of Fastrack product, 25
percent respondents rated 3, while 14 percent of the respondents rated 5 and only 6 percent of the respondents
rated 2 to the Fastrack products overall factors.

Graph showing the respondents ratings for the product.

53
percentag

1 2 3 4 5 total

Interpretation

By the above analysis it can be interpreted that the majority of the customers rated a good number that is more
number of customers around 35 percent given 4 ratings to the Fastrack which is a very good and positive
response to the Fastrack. By this it can be interpreted that Fastrack has a very good ratings from the customers.

17.Fastrack products Excellency in Overall Quality

Table showing respondent’s opinion about Fastrack products Excellency in Overall Quality.

OPINION PERCENTAGE
Strongly Agree 19
Agree 47
Neutral 0
Disagree 12
Strongly Disagree 2
TOTAL 80

Analysis

As from the above table it can be seen that 47 percent of the respondents agrees that Fastrack products are
excellent in overall quality, 19 percent of the respondents strongly agrees to this, while 12 percent of them
disagree this, and only 2 percent of the respondents feels that Fastrack products are not excellent in overall

54
quality.

Graph showing respondent’s opinion about Fastrack products Excellency in Overall Quality.

Interpretation

From the above analysis it can be interpreted that over 66 percent of the respondents agrees and strongly
agrees that Fastrack products are excellent in overall quality, it shows that Fastrack providing excellent overall
quality products to their customer andPercentage
to survive in competitive environment.

total
18.Fastrack products Excellency in after purchase service
strongly
disagree
Table showing respondent’s opinion on after purchase service.
disagre
percentag
OPINION PERCENTAGE
Strongly Agree 1
Agree
strongly 10
Neutral 2 4 66 6 8 10
Disagree 3
Strongly Disagree 0
TOTAL 80

Analysis

55
It can be seen from the above table that 66 percent respondents are neutral on after purchase service of
Fastrack, 10 percent respondents agree on this, while 3 percent disagree on this, and only 1 percent of
respondents strongly agrees that Fastrack is excellent in after purchase service.

Graph showing respondent’s opinion on after purchase service.

Interpretation

From the above analysis it can be interpreted that most of the customers are not aware of after purchase service
that is over 66 percent of the respondents are neutral on this. It shows that customers are not aware of after
purchase service like warranty or repairs for their product, so Fastrack should give proper knowledge and
awareness to their customers to get a clear information about the after-purchase service.

19.Customer opinion about buying Fastrack again

Table showing customer’s opinion about buying Fastrack again.

OPINION PERCENTAGE

Definitely will 23

Probably will 43

Not sure 10

Probably will not 4

Definitely will not 0

80

56
Analysis

The above table shows that 43 percent of the respondent’s opinion is they will probably buy the Fastrack
again, 23 percent respondents’ opinion is definitely buying this again, while 10 percent respondents are not
sure on this and only 4 percent respondents’ opinion is probably, they will not buy the Fastrack products again.

Graph showing customer’s opinion about buying Fastrack again.

80
70
60
50
40
percentage
30
20
10

definitely probably not sure probably definitelytotal

will will will not will not

Interpretation

The respondent’s opinion is good as majority of the customers said that probably they will buy the Fastrack
again, this shows the Fastrack product has a grip on customer and by this analysis it can be seen that Fastrack
has a good customer retention.

20.Respondents about Recommending others to buy Fastrack

Table showing Respondents about recommending others to buy Fastrack

OPINION PERCENTAGE

Definitely will 26

Probably will 33

Not sure 6

57
Probably will not 12

Definitely will not 3

TOTAL 80

Analysis

The above table shows that 33 percent of respondents probably will recommend others to buy Fastrack, 26
percent definitely will definitely recommend others, whereas 6 percent of respondents are not sure on this, 3
percent of the respondents are definitely will not and around 12 percent of the respondents probably will not
wish to recommend others to buy the Fastrack product.

Graph showing Respondents about recommending others to buy Fastrack

percentag

definitely probably notsure probably definetely total

will will will not will not

Interpretation

The above analysis shows that majority of the respondents are willing to recommend others to buy the
Fastrack, this shows that respondents are really satisfied with the products and they also want to influence
others to buy the product.

21.Respondents on buying other brands?

Table showing respondent’s opinion about buying other brands.

OPINION PERCENTAGE
Definitely will 0
Probably will 7
58
Not sure 49
Probably will not 20
Definitely will not 4
TOTAL 80

Analysis

The above table shows that 49 percent of the respondents are not sure on buying other brands than Fastrack,
20 percent respondents are probably will not buy other brand, 4 percent definitely will not and only 7 percent
respondents’ opinion is that they will buy other brands.

Graph showing respondent’s opinion about buying other brands.

percentage

definitely will
probably will
not sure
probably will
not
definitely will
not total

Interpretation

From the above analysis it can be interpreted that majority of the respondents opinion around 49 percent
respondents are not sure on buying other brands and 20 percent respondents said probably will not buy other
brands, these both majority of respondents opinion about the Fastrack shows that the customers has a good
attraction towards the Fastrack products brands than the other brands

CHAPTER-5

FINDINGS, SUGGESTIONS AND CONCLUSION

59
Findings

 Majority of respondents are aware about the various range of products provided by the Fastrack brands
through different kinds of advertisements
 Majority of the customers agreed that Fastrack Brands are worth purchasing.
 Majority of the customers feel that Fastrack watches are better than its competitors Timex in Packaging
and its Trendy looks.
 Most of the respondents felt good about the availability of all accessory products in one Outlet.
 More number of customers are aware about the store locator on web, and they feel it is very useful to
the customers.
 Majority of the customers are not aware of after purchase service of Fastrack, it indicates that Fastrack
is failed in giving proper information and awareness on the after-purchase service.
 Most of the customers felt that Fastrack product pricing is excellent and a customer oriented one when
compared to other brands.
 Majority of the customers are satisfied with the facility of cash on delivery and money back offers of
Fastrack products.
 Most of the customers agreed that fairs and exhibition conducted by the the Fastrack is a very good
marketing tool as it attract huge audience and attracts the people in fair.
 The study shows that Fastrack products website have a good opinion among the customers and it can
be further improved and developed by providing more and detailed information of various offers,
discounts and promotions related to their products and also services.
 Majority of the customers use Fastrack watches only , this shows the loyalty of customers towards the
Fastrack brands watches.
 Majority of the respondents disagree the fact that they will buy other brands of the product, it indicates
that customers are satisfied with the Fastrack products and their overall quality

Suggestions

 The findings suggest that there is urgent need for assessing the global marketing opportunities and
developing global strategies by Fastrack to develop competitive edge. Though Fastrack is very popular
in India, it should take some initiatives and strategies to develop in global.

 Fastrack Sunglasses are very good and popular, but some respondents feel most of the models look
very similar to each other, and some has the plasticky feel so it has to outcome from this by doing good

60
research and producing variety and quality products.
 Fastrack is a youth-oriented brand and mainly concentrate only on young age generation, so it has to
target on other age group also to grow much bigger in the fashion accessory industry and can prove
that all other age group like 35-50 and 6-12 are also interested in Fastrack fashion accessory brands.
 From the review it is understandable that service quality offered by the Fastrack brand has a good
manipulate on customers. So Fastrack should improve its customer quality service to retain and satisfy
customer.
 Fastrack Website is very good in providing the information about the Fastrack, but it can be improved
again by including detailed information of new products, offers and promotions.
 In Fastrack Website they can also provide Customer’s feedback option while they use online, this will
help in getting quick information and also needs of the customers.
 For common doubts and queries one suggestion Box can be kept in Fastrack outlet. This will help in
taking suggestions and can work according to the customer wants and needs.
 In survey many respondents mentioned that they are not aware of after purchase service. So the
Fastrack has to take initiatives on after purchase service and spread awareness that they are also
facilitate and provides a good after purchase service.
 Fastrack mainly concentrate on Urban areas of India. So it also has to look forward for 2 tier and 3 tier
cities to make Fastrack more popular and it will help the rural people also to get more variety and more
range of Fastrack products. So Fastrack also has to open many outlets in other 2tier and 3tier cities.
 The product range showcased in ads, sometimes will not be available in the stores. So it must be ensure
that product ranges are accessible as soon as possible or the website should provide a solution like e-
tailing.
 Due to the tough competition Fastrack has to provide more and more of good offers and discounts to
satisfy customer and retain them.
 The Fastrack has to promote the brands through participating in schools and college events. There they
should sponsor the programmed and has to spread the awareness of the brand among the students.

Conclusion

This study has highlighted the impact of customer satisfaction towards the Fastrack brands. On the growing
influence of globalization on the Indian fashion accessory industry numbers of global fashion accessories are
coming to India with their variety of products features. In such a competitive environment Fastrack need to
be quality conscious and customer oriented since the products offered by the other companies are almost same
and similar in feature. So Fastrack needs to take serious in developing itself and has to take serious efforts to
make more competitive and stable in the present market by focusing on the good quality service to the
61
customers to reach their maximum expectation and to satisfy their needs.

Reaching the consumer expectation and making them satisfactory on the brands is a very
difficult process as there is a neck to neck competition. So, gaining and maintaining
consumer preference is a big problem to every organization. So Fastrack has to take
continuous and consistent branding initiatives and has to manufacture the products
according to the consumer needs that will reinforce the customer purchase decision and it
will lead to customer retention. So attaining and sustaining customers towards the
Fastrack brand is a important step in gaining brand loyalty. Most of the customers prefer
Fastrack brands due to its different designs and stylish looks of the products and also by its
strong image. So Fastrack has to continue these good qualities and has to be a customer
oriented as customers are the only key players for the success of any brands. So the
customer satisfaction plays a very important role in developing and success of any
company.EXECUTIVE SUMMARY

Customer satisfaction plays a important role in the growth of the business. That is every organization has to
study the customer wants and needs and also their expectation that which features of our company product
will satisfy them. These all care should be taken know the customer satisfaction. Customer satisfaction is a
very important tool in the overall development of a company and to be a competitive.

Due to global competition the primary work of any company is to attract customers and maintaining their
relationships with the firm. So, to improve the sale the firm has to look after customer satisfaction that is it
will boost the sales, increase profit and increase the customer loyalty and customer retention which is so
important for the success of any organization.

Fastrack was launched in the year 1998, which is a brand of the major watch manufacturing company of India
Titan. As it was launched on 1998 but it came to limelight in the year 2005 and became as an independent
brand by mainly targeting the urban youth and fashion segment.

This study is on Customer satisfaction towards Fastrack Brands which mainly focus on the satisfaction level
and customer opinion about the Fastrack Brand and also to know how well the product is working in the
market. This will specifically explain the customer willingness and also the livingness of the customer what
kind of products they want and which of the products features will satisfy them.

And this study also showcases on the strength and weakness of the Fastrack product and even opportunities
and threats to the company which will really help in making a good strategy and improve the product and
requirement according to that. Information is collected through Primary and Secondary data from various
official website.

The primary data is collected through 80 customers of the Fastrack by using questionnaire. Secondary data is
62
collected through referring various books, articles, company website and through internet source. Based on
the findings majority of the customers are satisfied by the variety of the products that is offered by the Fastrack.
Many of the customers are not aware of the after-purchase service. The trendy looks, advanced technology in
manufacturing the products and the unique designs which made customers more satisfied on their brand.

BIBLIOGRAPHY

A Jamal, M. G. (2001). Consumers and Brands: “A Study of the impact of self-image congruence on Brand
preference Satisfaction.

Arslan, N. G. (2014). “Customer Expectaion, Satisfaction and Loyality Relationship”.

Bhatnagar, A. a. (2004). “A model of retail format competition for non-durable goods”.

Bhattacharya, K. (2011). “The Changing Demographic Profile of Middle Class Indian Consumer in
Developing Market and its Manifestations on Buying Brhaviour for Wrist Watches- An Analytical Study”.

C, S. G. (2013). “Behavioral response to Customer Satisfaction”.

Callander, E. (2009). “Impact of Consumer Behavior on the Quality of the service”.

Chu, K. a. (2011). “Customer Satisfaction by Product Quality and Value”.

Dasu, S. The Customer Service Solution.

Hirschman, H. a. (2015). Customer satisfaction " Review of the literature and application to the product
system.

Livett, H. M. (2012). Apparel Retailing in India : Emerging Trends in Fashion Marketing”.

Luo and Homburg, O. (2006). “Research Journal on Customer Satisfaction towards Titan and its Subsidiary
brands ”.

Rai, A. (2003). Customer Relationship Management.

Szwarc, P. (2006). Reseraching Customer Satisfaction and Loyalty.

Zahorik, A. (2006). Customer Retention and Market Share

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64
ANNEXURE

1. NAME:

2. AGE:

a) 18-25
b) 26-35
c) 36-45
d) 46-60

3. GENDER:
a) Male
b) Female

4. EDUCATION:
a) Uneducated
b) High School
c) Inter School
d) Degree

5. OCCUPATION:
a) Housewife
b) Student
c) Business
d) Salaried

6. Do you own Fastrack watch

a) Yea
b) No
7. Reason for selecting Fastrack watch.
a) Band value
b) Style
c) Prestige symbol
d) Other ( specify --------- )

65
7. How long have you been using Fastrack watch?
a) 0 - 6 moths
b) 6 – 12 moths
c) 12 – 18 moths
d) More than 18 moths

8. You came to know about the brand via

a) Ads
b) Social network
c) Peers
d) Family

9. How many time you went to repair the watch.

a) Never
b) One time
c) Two time
d) Three time
e) More than three time

10. Put tick for your choice

Strongly Agree Disagree Strongly

agree disagree
Style range is
good
It is worth the
money

Advertised
collection is
available in
store
Satisfied with
what I paid
for what I
bought

66
11. In your most recent customer service experience how did you contact the
representative?
a) In person
b) By phone
c) Through retailer | dealer
d) Other ( specify ----------- )
e) Not applicable

12.Did the representative ( select all that apply)

a) Quickly id entify the problem
b) Appear knowledgeable and competent
c) How you understand the cause and solution to the problem
d) Handle issue with courtesy and professionalism

13.About how long it take to get this problem resolved ?

a) Immediate resolution
b) Less than a day
c) 2- 3 days
d) Problem is still not resolved

14.Compared to other brands Fastrack is

a) Much better
b) Somewhat better
c) Somewhat worse
d) About the same
e) Much worse

15.Fastrack watches are affordable

a) Strongly agree
b) Agree
c) Neutral
d) Disagree
e) Strongly disagree

16.Titan brands like Rage , Sonata ,etc only differ in price range
a) Strongly agree
b) Agree
c) Disagree
d) Strongly disagree

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17.Fastrack is excellent for the following (Answer if only applicable)
Strongly Agree Neutral Disagree Strongly
Agree disagree
Overall
quality
Purchase
experience
Usage
experience
After
purchase
service
(warranty,
repair etc)

18.Put tick for the applicable ones

Definitely Probably Not sure Probably Definitely
will will will not will not

Buy
Fastrack
again
Recommend
other to buy
Fastrack
Will buy
other brand

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