The project talks about smartwatch and the influencing factors which decides the brand positioning of smartwatch. Also various aspects are learned through this project regarding the expectations of consumers towards smartwatch.
2. Presented by :
Student’s Name UID No
Mayur Mendhe 2022-2212-0001-0031
Shreya Targe 2022-2712-0001-0003
Ravi Jadhav 2022-1912-0001-0005
Aadesh Shende 2022-2812-0001-0003
3. Introduction
Smart watches are wearable devices intended to be smartphone companions
that capture health data and ease access to notifications. The smart watch,
which is considered as the most complex gadget among the wearables, is
becoming ubiquitous with increasing market penetration.
According to Allied Market Research1 , the smart watch market exceeded 20
billion dollars in 2019 .
Smart Watch Market is expected to climb to around a 100 billion dollars in
2027.
Smart watches as wearable devices have been used to capture health data,
ease access to Apps notifications, communicating with friends traching
workouts, including tagged as a fashion product.
4. 1.What are the attributes that influence the brand
positioning of smartwatches ?
2.What is awareness towards smartwatch in market ?
.
ResearchQuestions
5. Research Objectives
•To study brand awareness throughout the public
about the smartwatch companies.
•To identify the attributes influencing the brand
positioning of smartwatches.
6. Key Associated variables :
Independent Variable :-
•Brand Awareness
•Design and style
•Features and functionality
•Compatibility with smartphones
•Brand reputation
•Pricing
•Marketing and promotion effort
Dependent Variable :-
•Brand positioning of smartwatch
7. Null Hypothesis H₀ :-
There is no significant difference between brand awareness and brand positioning of
smartwatches.
Alternate Hypothesis H₁:-
There is significant difference between brand awareness and brand positioning of
smartwatches.
Null Hypothesis H₀ :-
There is no correlation between influence of attributes and brand positioning of
smatwatch.
Alternate Hypothesis H₁:-
There is correlation between influence of attributes and brand positioning of
smatwatch.
8. Research Design Methodology
Sr.
No.
Parameters Methods
1 Research Design Exploratory Research Design
2 Data Collection Method Qualitative & Quantitative data Data Collection
3 Data Collection Type Primary & Secondary Data Collection
4 Data Collection Instrument Google Forms & Telephonic Interview
5 Total Population Unknown
6 Sample Frame Cannot Determine due to Unknown Population
7 Sampling Method Non- Probability - Convenience Sampling method
8 Sample Size 62
9 Analysis With Help of SPSS & Google Analytics on the Data
Collected by Google Form For Experience Survey and
Telephonic Interview .
9. Factor Analysis:
Standard Values:
KMO > 0.5
Bartlett’s test of
Sphericity < 0.05
Calculated Values:
KMO > 0.5 i.e. 0.534
Bartlett’s test of
Sphericity < 0.05 i.e.
0.000000
Hence, Data is appropriate
for factor analysis.
Hence, Accept alternate
hypothesis H1
and reject Null Hypothesis
H0 .
Data Analysis and Interpretation :
10. Pearson Chi-Square Test
1. 0.769 > 0.05 =>There is no significant Relation Between preference of brand
and brand positioning of smartwatch.
2. 0.449 > 0.05 =>There is no significant Relation Between performance and
brand positioning of smartwatch.
3. 0.228 > 0.05 => There is no significant Relation Between Age and brand
positioning of smartwatch.
4. 0.472 > 0.05 => There is no significant Relation Between Gender and brand
positioning of smartwatch.
5. 0.405> 0.05 => There is no significant Relation Between monthly income and
brand positioning of smartwatch.
11. Findings :
•On the Basis of Analysis , it was found that 20 respondents were female and
42 respondents were male.
•Out of all the respondents 85.5 % Respondents were Students.
•Out of total 62 Responses, 71.7 % of respondents are having monthly
income upto Rs 10000/- followed by 15% of respondents whose monthly
income is above Rs 50000/-.
•Near about 98.4% of respondents are aware about smartwatch.
•Out of tota 62 responses, 61.3% respondents has shown interest in using
technical gadgets in their day to day life and also they are using smartwatches
currently.
•From the google survey, we have found that convenience is the factor which
drives consumers to buy smartwatch as 65 % of respondents has selected
convenience as a driving factor to purchase smartwatch followed by fashion
statement .
•81.7 % People are buying smartwatch for the feature of heart and health
monitoring.
•Near about 50 % of respondents have shown their preference towards
Fastrack brand of smartwatch.
12. Conclusion
In conclusion, research on the brand positioning of smartwatch has shown the significance of
demographic parameters such income, marital status, gender, and age in influencing customer
choices. To make sure that their marketing tactics and policy products satisfy the needs of their
target market, Smartwatch brands must take these elements into consideration. Understanding
these variables will enable smartwatch brands to provide personalized coverage and pricing that
appeal to various demographic groups, ultimately resulting in higher success in the smartwatch
industry.
The success of a brand's positioning strategy will depend on its ability to meet the needs and
preferences of its target market. By understanding these factors and addressing them effectively,
brands can differentiate themselves in a crowded marketplace and gain a competitive advantage.
Brand Awareness Plays a significant role at influencing consumer’s purchase perception. And
major sources are internet, friends and Relatives.
13. Suggestions :-
Here are a few helpful tips for Smartwatch Brands that can aid them in managing their
businesses.
•Smartwatch Brand Should focus more on Performance Quality as
consumers are expecting Quality as an important factor for
purchasing a smartwatch.
•Smartwatch Brands should focus more on Middle Class members
of society as most of the users are having income less than 10000/-
.
•Smartwatch brands should focus on innovative marketing
techniques approaches for their products.
14. Limitations :
• Interest of respondent.
• Responses of respondent might be biased.
• Time constraint was there. Research was conduct in time period of two days.
• Sample of this research may not represent whole population as sample size is
limited.
• As this research is conducted in the Maharashtra, over the Google form, outcome
might not be applicable to apply for other Decision making in the industry.
• Respondents count was too low for study of difference of Rural and Urban
consumer perception towards Brand positioning of Smartwatch.
