Research on Omega Watches
Research Proposal for OMEGA Watches
Executive summary:
This paper investigates into the brand equity of a Swiss company Omega .This research has been taken up as a measure to investigate into the preferences of Indian people in the luxury watch segment. In this paper, the comparison has been made across three categories- luxury quotient, brand preference and quality. An interpretation will be established along with the data collected from 100 respondents in quantitative research.Convenient sampling method will be used.
Background :
The Indian watch market is estimated to be Rs.15 Billion in the year 2010-11.Majorly sought after brands include Rolex,Rado,Omega,Cartier,Breguet,etc.
With increased demand, the luxury goods market is all set to boom this year, says an ING fund manager. While the stability, strength and brand recognition of watches in India will help this luxury sector prosper. There is a huge growth potential, especially fuelled by demand from Asia. Compared to other luxury products, like handbags, watches, etc, brand recognition in the watch industry tends to be higher. Moreover sale of brands like Rolex, Swatch and Patek is also prospering. Demand over the last year has been so high and is growing at such a high rate that retailers have even been able to hike their prices without sales figures suffering.
There has been a drastic change in how the Indian consumer behavior has gone through a radical makeover. The focus has shifted from price to quality to a large extent. The reason for the splendid spending is the surging salaries because of the advent of huge multi-nationals planting their seeds in India. India has become a great market for the luxury segment.
Omega is a subsidiary of the Swiss Swatch Group. Omega SA is a Swiss luxury watchmaker. It is one of the most well-known and recognized watches in the world. It claims about 25% of Indian luxury watch market.Its price starts from Rs.39500 and goes upto Rs.250000.
Problem definition:
Executive summary:
This paper investigates into the brand equity of a Swiss company Omega .This research has been taken up as a measure to investigate into the preferences of Indian people in the luxury watch segment. In this paper, the comparison has been made across three categories- luxury quotient, brand preference and quality. An interpretation will be established along with the data collected from 100 respondents in quantitative research.Convenient sampling method will be used.
Background :
The Indian watch market is estimated to be Rs.15 Billion in the year 2010-11.Majorly sought after brands include Rolex,Rado,Omega,Cartier,Breguet,etc.
With increased demand, the luxury goods market is all set to boom this year, says an ING fund manager. While the stability, strength and brand recognition of watches in India will help this luxury sector prosper. There is a huge growth potential, especially fuelled by demand from Asia. Compared to other luxury products, like handbags, watches, etc, brand recognition in the watch industry tends to be higher. Moreover sale of brands like Rolex, Swatch and Patek is also prospering. Demand over the last year has been so high and is growing at such a high rate that retailers have even been able to hike their prices without sales figures suffering.
There has been a drastic change in how the Indian consumer behavior has gone through a radical makeover. The focus has shifted from price to quality to a large extent. The reason for the splendid spending is the surging salaries because of the advent of huge multi-nationals planting their seeds in India. India has become a great market for the luxury segment.
Omega is a subsidiary of the Swiss Swatch Group. Omega SA is a Swiss luxury watchmaker. It is one of the most well-known and recognized watches in the world. It claims about 25% of Indian luxury watch market.Its price starts from Rs.39500 and goes upto Rs.250000.
Problem definition: