Transcript of "Strategies n market research planet home appliance-manendra"
Market research –How we increase our brand visibility and sales. By- Manendra ShuklaAssociated Appliances LimitedCompany ProfileAssociated Appliances Limited (AAL) is a home appliances manufacturing company, focused on bringing new andinnovative products to improve the lives of one and all. AAL owns with pride, a pioneer of all the brands calledPLANET which has been into existence for nearly five decades now.Headquartered in Faridabad, AAL employs approximately 300 employees in three units operating from tax-freezones in the Northern India. The brand PLANET is a market leader with a varied mix of appliances such asconventional to designer Cook tops, electronic extraction hoods, Juicer-Mixer-Grinders, Electric irons and variousother small appliances.Company HistoryThe foundations of AAL were laid in 1982 when it started manufacturing conventional two burner cook tops. Sincethen AAL has come a long way and added a huge list of impressive product line to cater to its customers. Since itsinception, the research and development team has brought laurels to the company in more than one way. AAL hasbeen a trend-setter for the industry by introducing new and innovative products from time to time. Be it theintroduction of a glass cook top or zero noise level chimney, both the products with many others revolutionized theindustry and kept the competitors in the industry on their toes to keep watching us. The ever growing list of AAL’sproducts have touched the hearts and lives millions of people over the years and it will continue to do so for manydecades to come.Research on planet home appliances Limited-Marketing & Promotional strategy for acompetitive marketSample size-8 (4 Bartan store & 4 electronic store) 1- Kushwaha bartan store-jonapur-9873460297Cooker range- Lg-5l-550-600Milton-3l-600-650Miltan-3l-250-300LcGas Stove-Surya
ActivaJuser/mixer-Diamond-2200Ramesh Electronics –Chatterpur-9878451324Iron-Nova-5%Khetan-2%Phillips-2%Bajaj-2%Crowen ten-2%Orpet-2%Murphy-2%Mixxi- Usha laxus-3%Mayur-5%Maharaja-5%Raj electronics-jonapur-9810297480Iron-bajajPhillipskhetanJ.P.electronics-jonapur-9818215367Iron-UshaPhillipsBajajResearch AnalysisThe data showed that there are so many branded and non branded appliances in the market and we want to play in brandedsegment because in branded appliances prices is 200%-300% more than non branded.According to me in this competitive market only two strategy works. 1. Branding& Advertising- ex. American MNC Like -Apple,Whirlpool 2. Economic& Cheap- ex. Chinese MNC Like-Huwai
If I suggest for our company planet home appliance the 1 st strategy is beneficial and durable for us.We follow the 1st strategy then work hard and invest more on branding advertising and make a reputed brand in long time it takeslong time like-bajajCustomer SegmentationThere are two type of customer segment in the market also. 1. Who prefer branded product.(Premium product)-60% 2. Who prefer non branded product. (Economical product)-40%Customer Target Segment So our target to focus on 1st group who prefer branded product and Premium price product. How we make us a premium brand 1. By Marketing 2. By Advertising
In the branding we have two strategies accordingly to our budget if we have good budget then ATL 1. ATL(Above the line sales promotion) Huge budget-Capital exp.ATL is a type of advertising through media such as television, cinema, radio, print, and Out-of-home to promote brands orconvey a specific offer. This type of communication is conventional in its nature and is considered impersonal to customers.ATL promotions are tailored for a mass audienceATL promotions can establish brand identityATL promotions are also difficult to measureWhen we look at the above description we can very quickly see how misleading this can be since media today are not either massor direct and almost everything is measurable. Today a TV spot properly targeted could be very segmented, or a video deliveredby email could be considered as direct; with the growth of TV and VOD along with digital set-top-boxes we can also measure inmuch more detail who is watching what – so this description is clearly unsuitable for the changing landscape.The advent of the web, social media and apps brought about the prevalence of words like interactive and digital – both of whichhave helped serve as a crutch during this transition period but again do not do proper justice to the media themselves – TV,mobile and the web can all be both digital and interactive. I personally have a big issue with the current use of the word digitalsince it seems to be bandied about in the industry to cover anything that someone feels is a little too technically complex for themto understand ranging from a strategy on how to use Facebook or a mobile application. I wrote a while ago that ‘Digital is not amedium‘ to try and hammer home the fact that everything is digital, and taking this further that in fact digital is not even acombination of channels but goes far beyond marketing into the organization - Digital is not a channel, it is part of your product. 2. BTL(Below the line sales promotion) less budget-Current Exp.
By using below-the-line promotion techniques the firm can keep control over its promotional efforts and does not have to payintermediaries and external agencies. As a result, BTL promotion is relatively cheap compared to ATL promotion.BTL sales promotion is an immediate or delayed incentive to purchase, expressed in cash or in kind, and having short duration. Itis efficient and cost-effective for targeting a limited and specific group. It uses less conventional methods than the usual ATLchannels of advertising, typically focusing on direct means of communication, most commonly direct mail and e-mail, oftenusing highly targeted lists of names to maximize response rates. BTL services may include those for which a fee is agreed uponand charged up front.BTL is a common technique used for "touch and feel" products (consumer items where the customer willrely on immediate information rather than previously researched items). BTL techniques ensures recall of the brand while at thesame time highlighting the features of the product.BTL targeted at individuals according to their needs or preferences.BTL can actually lead to a sale.BTL promotions are highly measurable, giving marketers valuable insights into their return-on-investment.Another BTL technique involves sales personnel deployed at retail stores near targeted products. This technique may be used togenerate trials of newly launched products. It helps marketers establish one-to-one relationship with consumers while masspromotions, by definition, make it difficult to gauge consumer-response, except at the time of sales. Examples include tele-marketing, road shows, promotions, in- shop and shop-front activities, display units.The terms "below the line" promotion or communications, refers to forms of non-media communication, even non-mediaadvertising. Below the line promotions are becoming increasingly important within the communications mix of many companies,not only those involved in FMCG products, but also for industrial goods. Below the line sales promotions are short-termincentives, largely aimed at consumers. With the increasing pressure on the marketing team to achieve communication objectivesmore efficiently in a limited budget, there has been a need to find out more effective and cost efficient ways to communicate withthe target markets. This has led to a shift from the regular media based advertising. In other words, below-the-line salespromotion is an immediate or delayed incentive to purchase, expressed in cash or in kind, and having only a short term ortemporary duration.Below the Line uses less conventional methods than the usual specific channels of advertising to promote products, services, etc.than Above the Line strategies. These may include activities such as direct mail, public relations and sales promotions for whicha fee is agreed upon and charged up front. Below the line advertising typically focuses on direct means of communication oftenusing highly targeted lists of names to maximize response rates.Trained sales personnel, often young women, are deployed at Retail Stores, near the shelves of targeted products. These youngwomen convince customers visiting these shelves about the better aspects of their brand compared with others. This is ideal fornew launches as it generates trials, which if successful result in repeat sales.BTL Techniques 1. Price promotion 2. Branding and rebranding 3. Direct Sales Promotions 4. Instore Promotions 5. Integrated Communication Approach 6. Coupons 7. Gift with purchase 8. Competitions and prizes 9. Money refunds 10. Frequent user/loyalty incentives 11. Point-of-sale displays 12. Promotional items and other frequent user/loyalty incentives 13. Discounts and price reductions 14. Sponsoring of activities
15. Charity programsExamples of BTL promotion are: 1. Sales promotion 2. Direct marketing and direct mail 3. Public relations (PR) 4. Sponsorship 5. Personal selling 6. Branding and merchandising 7. Packaging 8. Telemarketing 9. Trade fairs and exhibitions According to me in BTL activities the point of purchase/sale advertising is very good for our product this is also called over the counter advertising. In this type of advertising the company’s product attract the customer to see the product if customer like the product and sales man tell something good about the product then customer definitely purchase. Pop (point-of-purchase advertising)Point-of-purchase advertising uses displays or other promotional items near the product that is being sold.How effective is point of purchase advertising?It is very crucial as the touch point with the consumers is built and developed at the point of purchase and word of mouth can beincreased.Pop Advertising that is built around impulse purchasing and that utilizes display designed to catch a shoppers eye particularly atthe place where payment is made, such as a checkout counter. There are various types of point-of-purchase displays, includingwindow displays, counter displays, floor stands display bins, banners of any kind, and all types of open and closed display cases.