Title : Comparative Analysis of Four Leading Watch Brands
Author : Riya Kashte
Introduction : The watch industry, steeped in history and innovation, has evolved into a symbol of status, style, and precision. This study delves into the realm of consumer perception regarding four prominent watch brands: Rolex, Timex, Michael Kors, and Cartier. Each of these brands has a distinct history, target audience, and brand image.
Objective : To find out significant differences in consumer perception and preference among four renowned watch brands
Data Collection :
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Anova: Single Factor |
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SUMMARY |
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Groups |
Count |
Sum |
Average |
Variance |
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Rolex |
25 |
233 |
9.32 |
1.56 |
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Timex |
25 |
191 |
7.64 |
2.24 |
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Michael Kors |
25 |
198 |
7.92 |
2.91 |
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Cartier |
25 |
187 |
7.48 |
1.51 |
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ANOVA |
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Source of Variation |
SS |
df |
MS |
F |
P-value |
F crit |
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Between Groups |
52.91 |
3 |
17.63667 |
8.58232 |
4.19E-05 |
2.699393 |
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Within Groups |
197.28 |
96 |
2.055 |
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Total |
250.19 |
99 |
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Data Analysis : Null Hypothesis (H₀): There is no significant difference in consumer perception and preference among the four watch brands: Rolex, Timex, Michael Kors, and Cartier.
Alternative Hypothesis (H₁): There is a significant difference in consumer perception and preference among the four watch brands: Rolex, Timex, Michael Kors, and Cartier.
The ANOVA test yielded a p-value of 4.19E-05, which is significantly less than the conventional alpha level of 0.05. This indicates that we reject the null hypothesis and accept the alternative hypothesis. there is a statistically significant difference in consumer perception and preference among the four watch brands. This suggests that consumers perceive these brands differently, likely due to factors such as brand image, price, and target audience.
Conclusion : The results indicate significant differences in consumer perception and preference among Rolex, Timex, Michael Kors, and Cartier.