International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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MASSIVE SHIFT IN CONSUMER MANDATE IN WATCH INDUSTRY WITH SPECIAL REFERENCE TO APPLE SMARTWATCH AND IONIC FITBIT

    2 Author(s):  DR. AMIT ARUN MEDHEKAR, DR. PRATAP VASANTRAO PAWAR

Vol -  10, Issue- 11 ,         Page(s) : 62 - 67  (2019 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

The disparity among individual needs and expectations makes understanding of consumer behaviour a challenging chore for marketers. Hence marketers need to obtain an exhaustive knowledge of consumers’ buying patterns. Such information can act as an authoritative tool in the hands of marketers to forecast the future buying behaviour of customers and formulate marketing strategies in order to create long term customer relationship. The advancement of consumer-centric focus of business underscores the importance that is given to the consumer. New trends have been emerged in consumers’ behaviour of watch Industry. Changing trend of consumer-response of watch Industry is explicitly evident. Simple watches are becoming obsolete. Apple smartwatch and fit bits are grabbing the market share. But still Apple smartwatch is showing decline in demand recently. It is interesting to see if smartwatch will be able to set as a future norm in watch industry. Innovation in watch industry has been based on shrewd proactive understanding of customer requirement by companies. It will be with the motive for customer delight if he is given the future product here and now. The varied higher order attributes of the Smartwatch as well as fit bits is becoming the benchmark for the competitors. As the number of leading and economical smartwatches continues to produce, consumers are ever more opting for devices from companies other than Apple, such as Fitbit, Samsung, Huawei,. Hence, due to this competition- Apple has seen its market share drooped the past couple of quarters.

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