Fishbein Model- Titan And Timex

UNDERSTANDING CONSUMER BELIEFS AND EVALUATIONS Using the Fishbein Model ( Multi - Attribute Attitude Model )

GROUP MEMBERS: Atul Saboo Saurav Jalan Tarun Daga Uma Balakrishnan

AGENDA 

Fishbein Model  Using the Fishbein Model

       

Focus Group Study Sample Details Sample Questions Attitude Towards Titan Attitude Towards Timex Key Observations Comparison Between the Brands Recommendations

FISHBEIN MODEL MODEL :  Ao = ∑ ( bi * ei ) to n 

  Ao   Bi

where i = 1

= Attitude towards the object

= extent of belief that object possesses attribute i

  Ei

= evaluation of attribute i

USING THE FISHBEIN MODEL STEPS :

 

1. Identify some important attributes in that product category 2. 3. Design questionnaire to measure belief and evaluation and conduct survey 4. 5. Analyze the data collected to see consumer’s attitudes towards the brands 6. 7. Make recommendations for improving the market position of the brand 

FOCUS GROUP STUDY       

Conducted two focus group discussions within Praxis of 6 people each Enumerated various attributes of wristwatches which came to light Clubbed similar attributes into 7 salient attributes Designed questionnaire on the basis of attributes highlighted

SAMPLE DETAILS Sample Size: 30  Type of Sampling: Convenience & Judgment  Technique: Intercept interview  Survey Locations: 

 South City Mall  Kalighat Metro Station  Merlin Residency 

SAMPLE QUESTIONS 





For Belief :  How far do you think accuracy is present in Titan and Timex? Low presence High presence 1 2 3 4 5 6 7 8 9 10

 

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For Evaluation :  How important do you feel is accuracy as an attribute in a wristwatch? Unimportant Very Important -3 -2 -1 0 +1 +2 +3

ATTITUDE TOWARDS TITAN ATTRIBUTES

Bi

Ei

BiEi

Accuracy

8.167

2.133

17.422

Durability

8.367

2.167

18.127

Price

7.733

0.367

2.836

Style

8.1

2.6

21.06

Innovation

7.8

1.967

15.34

Variety

8.2

2.367

19,407

Trust

8.433

2

18.667

Overall Attitude

111 . 059

ATTITUDE TOWARDS TIMEX ATTRIBUTES

Bi

Ei

BiEi

Accuracy

6.733

2.133

14.364

Durability

6.933

2.167

15.022

Price

6.6

0.367

2.42

Style

6.167

2.6

16.033

Innovation

4.9

1.967

9.636

Variety

5.2

2.367

12.306

Trust

6.133

2

12.267

Overall Attitude

82 . 05

KEY OBSERVATIONS   







As observed , Titan is perceived as the leader brand in each attribute Hence Timex , with lower scores , is a follower brand Price is not very important for consumers, showing people are more willing to spend on the product Style and variety score higher than accuracy and durability. This shows the move from being just a timepiece to an accessory & fashion statement Low durability score shows the attitude of people wanting to change watches frequently

COMPARISON BETWEEN THE BRANDS  Most important attributes sought by

respondents:

  STYLE

▪ Style ▪ Variety ▪ Durability TIMEX (Bi*Ei) TITAN (Bi*Ei) DIFFERENCE 16.03

21.06

-5.03

12.31

19.41

-7.1

DURABILITY 15.02

18.13

-3.11

VARIETY

RECOMMENDATIONS 

Timex should concentrate on improving style and variety of its watches  Product assortment should cater to different segments

and versatility should be increased  Positioning should portray a diverse array of wrist

accessories

 

Perceived difference between style of Titan & Timex, and variety of Titan & Timex, should be reduced

 

Durability need not necessarily be worked upon because:  Difference is not very high vis-a-vis the other two

attributes

THANK YOU!!!