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1. What are the patterns that you observe with regard to the responses of the users/non-users of luxury watches with regard to the brand personality aspects, and the manner in which they responded regarding these dimensions when applied to themselves? What kind of interpretation can you draw from the responses, in the context of this case? ns. nalysis nalysis of !ndian consumer behaviour " premium watch purchase pur chase decision #o analyse the case from fr om consumer behaviour point of view on premium watch purchase decision, the case study refers $ankelovi $ankelovich%s ch%s definition of &egmentation by 'alue. 'alue. (er the authors of case study) * !t is found that in a product people look for nature of appeal " associations like +lamour, ashion, sports and un. * #hey have four philosophies namely dress, classical, fashion " sport * onsumer behaviours are governed by psychological needs to position themselves, 'a 'alue for money, &elf-perception, personality and style. * onsumers look for rands that offered benefits akin to) - unctional benefits like the real need of the product - &ymbolic benefits like status, self-expression, sophistication, aesthetic appeal, prestige, enhancement of self- image, ego gratification, and sense of belonging - xperiential benefits like sensory pleasure, variety or cognitive simulation. * #heir preferences are also influenced by their 0ifecycle stages whether they are a &chool student, college student, young working executive " experienced executive. #he authors feel that the main consumer for a (remium 0uxury watch would be) * new generation executive who is set to move toward prime of his career * Who after a few years of hard-work is ready to announce his arrival in the world of success
* Who wants to display his status by associating himself with value brands " is very brand conscious * +enerally s, senior professionals, entrepreneurs, people belonging to higher socio-economic strata. * #hese individuals constantly seek new and un-conventional experiences. * #hey are in their thirties and forties. * &uch consumers will purchase only products that will provide more &ymbolic " experiential benefits rather than 2ust functional benefits. #he above points very clearly provide insights on consumer behaviour point of view on premium watch purchase decision.
3. 4ow would you use some of the principles of perception after considering the data obtained in the exhibits that are associated with the present and the potential users of premium watch brands? ns. * !t is found that in a product people look for nature of appeal " associations like +lamour, ashion, &ports and un. * #hey have four philosophies namely dress, classical, fashion " sport * onsumer behaviours are governed by psychological needs to position themselves, 'alue for 5oney, &elf-perception, personality and style. * #heir preferences are also influenced by their 0ifecycle stages whether they are a &chool student, ollege student, young working executive " experienced executive. #he authors feel that the main consumer for a (remium 0uxury watch would be) * new generation executive who is set to move toward prime of his career * Who after a few years of hard-work is ready to announce his arrival in the world of success? 6. xplain the formation of stereotypes and your approach to applying this concept to the case situation based on the analysis performed for 7uestion 3? 4ow would you relate these aspects to the data in the exhibits in the case? ns.
* Who wants to display his status by associating himself with value brands " is very brand conscious * +enerally s, senior professionals, entrepreneurs, people belonging to higher socio- economic &tatus * #hese individuals constantly seek new and un-conventional experiences. * #hey are in their thirties and forties. * &uch consumers will purchase only products that will provide more &ymbolic " experiential benefits rather than 2ust functional benefits
