Customer Satisfaction of Fastrack Watches - Research Analysis

This project report analyzes the customer satisfaction of Fastrack watches customers. It examines the existing quality of the product, customer demand, and variations between perception and expectation. The research methodology includes research design, sampling technique, and findings.

CUSTOMER
SATISFACTION

Table of Contents
INTRODUCTION...........................................................................................................................3
METHODOLOGY..........................................................................................................................3
RESEARCH................................................................................................................................3
RESEARCH DESIGN.................................................................................................................3
SAMPLING TECHNIQUE.........................................................................................................4
FINDINGS.......................................................................................................................................6
Calculations:................................................................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10
APPENDICES...............................................................................................................................11

INTRODUCTION
This project report is based on research analysis of customer satisfaction of Fastrack watches
customers. Customer satisfaction, once the term used in marketing, is a measure of how products
and services supplied by a company meet or exceed customer expectation. Customer satisfaction
is defined as the number of customers or the percentage of total customers whose reported
experience with a firm exceeds the satisfaction goals specified by their products, or their service
ratings.
The main objective of this report is to know “Are customers of Fastrack are satisfied with the
service of company”. To get the answer of this question; several small objectives have been set
for this assignment like to evaluate existing quality of the product, identify whether company is
able to satisfy current customers demand and to analyze variations between perception and
expectation of customers.
METHODOLOGY
RESEARCH
The research is based on a appropriate process with a stated goal of evaluating customer
satisfaction for FastTrack Watches. The main objective of this report is to provide information
about the problems faced by FastTrack Watch clients in order to implement an effective solution
to resolve this issue. After identification of problem the next step is to establish strategy to cover
the objective of research.
RESEARCH DESIGN
Research configuration research, research or study questions, study process, strategy for study.
Research configuration speaks to the process of logical inquiry in a staged or systematic way of
research or research. Through the research plan, all means are offered for the subject and reason
for the research or study, the process of examination, and the classification and strategy of the
information identified thereafter. Research configuration is the system intended to find answers
about the inquiry. The strategy chosen will influence the results and the way in which the results
are performed. There are two fundamental types of research structure: subjective and

quantitative. All things considered, there are several approaches to the group's inquiry about
structure. An exploratory configuration is a position or classification (Mackey and Gass, 2015).
The study configuration reflects the type of study (separate, restorative, quasi-exploratory, test,
survey or expository objective) and subtype (as an example of examining longitudinal
knowledge) about issues, speculation, autonomous and subordinate factors. Performs inquiries,
plan tests and performs mediocre. The test is confident. There is a clear plan to explore consumer
loyalty.
SAMPLING TECHNIQUE
The ambitious examination strategy has been used to obtain the required information
simultaneously. In this method; a small crowd has been chosen among the vast population to
gather responses. A prevalent example is one that guarantees that subgroups (layers) of a given
population are adequately spoken within the example population of an exploratory study. For
example, an example of being an adult can be separated into subgroups by age, for example, 16–
30, 31–44, 45–59, 60–74, and 75 or more. To include this example, scientists would then
arbitrarily make uniform measurements from individuals of each age. There was no partiality in
choosing the trial and each defendant gets a completely unrelated opportunity to be elected.
There are two types of examination system; Probability and non-probability testing strategy. The
non-probability testing system is applicable to the system reported here (Goddard and Melville,
2004).
Non-Probability sampling
When in the sampling method, not all individuals in the universe are given equal opportunity to
be part of the sample; the method is called non-probability sampling. Under this technique, there
is no probability associated with the unit of population and the selection depends on the
subjective judgment of the researcher (Evans, and Basu, 2010).
Convenience sampling
Convenience sampling method has been adopted for collecting data for this research project.
Sample size
Overall 60 respondents were selected for primary source of research which is survey.

Data Collection
Target Audience: Fastrack showroom located at Westfield London.
Significance of the study
At present, there is a huge market in the watch industry and is developing rapidly. The routes of
new firms such as Redo and Rolex make the industry increasingly serious. The basic goal of this
test is to isolate the reality about the effect of item quality on rivalry within the watch industry.
The result of the test dependent on the test gathered will show the current pattern in the showcase
and those who actually think about the clock; this data will promote future activities of the
organization through creating appropriate methodology.
Customer Satisfaction
The value of satisfaction may be characterized as the satisfaction of desire through the pursuit of
payment. On the occasion that the customer believes that the item he is buying has less incentive
than cash, it will at this time be less replenishing for him (Noor, 2008). Then; on the off chance
that the cash paid by the customer has less incentive than the item, the customer will get more
satisfaction at that point.
Determinants of customer satisfaction
Consumer loyalty can be estimated in the following words:
• Items and administration features.
• Customers' emotional connection with the item made her aware.
• Progress of progress or disappointment of administration.
• Not customer recognition or unilateral balance.
• Neighbors, relatives and partners (Noor, 2008).

FINDINGS
Summary of main findings
For example, in the wake of breaking the information, it turned out that part of product line
respondents knew about FastTrack Watches offering different products and that they are
effectively seeing the organization's advertising. They likewise acknowledge that FastTrack
watches and Titan brands have exceptional value, the same quality. Respondents additionally
agreed that FastTrack watches are better than their rival brands. It was additionally found that
most extreme individuals undergo fasttrack inspection in a year. Through the chi-square test it
was found that the bulk of respondents accept that FastTrack Watch is appropriate. It was
likewise concluded by the respondents that customer care is great in supplier great item
information and performance. Yet at the same time a lot of respondents are not happy with the
offices of the customer support staff because they do not have to go in the pickup period; the
principle explanation for this upset weighs tremendous product offerings on specialist
organizations. Customer brand devotion to the organization's items was investigated as the
largest respondent wearing FastTrack watches. Then; Respondents likewise showed
dissatisfaction with the investigation of customers as it was not found to be sufficient by them.
They likewise write to give appropriate item information and preparation to the organization.
More than 75% of the customers demonstrate their dissatisfaction to go with the rival brand of
the organization. This reflects the organization's triumph in maintaining the greatness of item
administration to customers, which prevented them from taking on the contender brand watch.
Further examination of site ratings by watchmen and customers; Shows that the general rating of
60 respondents is above 3.5 out of 5, with great achievement and can be further improved
through the contribution of limited and benefit-free vouchers to their sovereignty as rewards.
Calculations:
Chi-square test has been applied to identify the outcome between affordability of watch by
customer. Test is single tailed and reason for choosing particular method is non parametric
information based on survey questionnaires (Kothari, 2004).
Testing of Hypothesis
Hypothesis 1:

H0 (Null hypothesis): There is no significance difference between customer’s satisfaction and
service of Fastrack watches.
H1 (Alternate hypothesis): There is significance difference between customer’s satisfaction and
service of Fastrack watches.
O E (O – E)2 (O – E)2/ E
Strongly agree 14 12 4 0.33
Somewhat agree 17 12 25 2.08
Disagree 12 12 0 0.00
Strongly
disagree
14 12 4 0.33
Neutral 3 12 81 6.75
60 60 9.50
X2 = (O – E)⅀ 2 / E = 9.50
Degree of freedom, n – 1 = 5 – 1 = 4
Significance level = 0.05
Table value = 9.488
Interpretation: P value is less than 9.50 (9.50 > P); hence null hypothesis will be rejected and
alternate hypothesis will be accepted. So, it can be stated that there is significance difference
between customer’s satisfaction and service of Fastrack watches (Marczyk, DeMatteo and
Festinger, 2005).
Hypothesis 2
H0: There is no significance difference between customers’ opinion about product range provided
by Fastrack Watches.
H1: There is significance difference between customers’ opinion about product range provided by
Fastrack Watches

O E (O – E)2 (O – E)2/ E
Strongly agree 15 12 9 0.75
Somewhat agree 17 12 25 2.08
Disagree 13 12 1 0.08
Strongly
disagree
8 12 16 1.33
Neutral 7 12 25 2.08
60 60 6.33
X2 = ⅀ (O – E) 2 / E = 6.33
Degree of freedom, n – 1 = 5 – 1 = 4
Significance level = 0.05
Table value (p) = 9.488
Interpretation: P value is greater than calculated value (6.33 < p < 9.488); thus null hypothesis
will be accepted and alternate hypothesis will be rejected. Therefore, there is no significance
difference between customers’ opinion about product range provided by Fastrack Watches
(Miller, 1994).

CONCLUSION
After separating all discoveries and realities from reviews and supporting information; It can be
speculated that FastTrack Watches has built great repos with clients and friends should focus
more on giving their clients a better office. For observation in the long run of business, the
primary thing required by each union is to change according to the request and the wishes of the
customer. The impact of globalization and external exchange has a lot on the history of the
London clock; the new contestants give Fastrack a tough competition with their inventive items
and innovation in selling. These devices have suppressed all old-style accessories, thus making it
difficult for the watch organization to offer vintage-style watches to intrigue customers, a part of
expensive watch brands that have platinum coverings, Uses structures inside gold and often uses
jewels, creating a separate market segment for them. Currently one day common watches have
no place on the showroom rack; they are out of the market.
Simply put, consumer loyalty is the way your business achieves. Treat them extravagantly and
they will make your business attractive. Despite keeping themselves open, the latter strategy to
satisfy them is using heartfelt CRMs, to treat them cordially and provide brief forms of
assistance. First find out what CRM means. CRM can be clearly depicted as a business system
aimed at improving customer support and their fulfillment. This enables you to acquire
customers and grow an existing business.

REFERENCES
Books and Journals
Evans, J.R. and Basu, A., 2010. Statistics, data analysis, and decision modeling. Pearson.
Goddard, W. and Melville, S., 2004. Research methodology: An introduction. Juta and Company
Ltd.
Kothari, C.R., 2004. Research methodology: Methods and techniques. New Age International.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design.
Routledge.
Marczyk, G., DeMatteo, D. and Festinger, D., 2005. Essentials of research design and
methodology. John Wiley & Sons Inc.
Miller, R.B., 1994. Statistics for business: Data analysis and modeling. Duxbury Press.
Noor, K.B.M., 2008. Case study: A strategic research methodology. American journal of applied
sciences, 5(11), pp.1602-1604.

APPENDICES
QUESTIONNAIRE.
Questionnaire for the Project on the topic -Assessment of product and senice quality of Fastrack
natcheC
Name Age
Gender Occupation
Education Signature
1. Do you own Fastrack watch?
❑ Yes ❑ No
2. Reason for selecting Fastrack watch
 Brand value
 Style
 Prestige symbol
 Others (specify………………….)
3. You came to know about the brand via
 Ads
 Social network
 Peers
 Family
 Others (Specify……………..)
4. How long have you been using Fastrack watch?
 0-6 months
 6-12 months
 12-18 months
 More than 18 months
5. How litany times you went to repair the watch
 Never

 One time
 Two time
 Three time
 More than three tunes
6. Put tick mark for your choice
Strongly agree Agree Disagree Strongly disagree
Style range is
good
It is worth the
money
Advertised
collection is
available in store
Satisfied with
what I paid for
what I bought
7. In your most recent customer service experience how did you contact the representative?
 In person
 By phone
 Through retailer/dealer
 Other (specify
 Not applicable
8. Did the representative (select all that apply)
 Quickly identify the problem
 Appear knowledgeable and competent
 Help you understand the cause and solution to the problem
 Handle issue with courtesy and professionalism
 Not Applicable
9. About how long it take to get this problem resolved?
 Immediate resolution
 Less than a day
 2-3 days
 More than a week
 Problem is still not resolved
 Not applicable

10. Compared to other brands Fastrack is
 Much better
 Somewhat better
 About the same
 Somewhat worse
 Much worse
11. Fastrack watches are affordable
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree
12. Titan brands like Rap. Sonata etc only differ in price range
 Strongly agree
 Agree
 Disagree
 Strongly disagree
13.Fastrack is excellent for the following (Answer if only applicable)
Strongly agree Agree Neutral Disagree Strongly
disagree
Overall quality
Purchase experience
Usage experience
After purchase service
(Warranty, repair etc.)
14. Put tick for the applicable ones
Definitely
will
Probably will Not sure Probably will
not
Definitely
will not
Buy Fastrack again
Recommend others
to buy Fastrack
Will buy other brand