ICP-Hasled Report

In-company project report 2013/14
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DE MONTFORT UNIVERSITY
LEICESTER BUSINESS SCHOOL
In-company Project (Report)
‘Internationalisation of Hasled (particularly in India) as the target market’
John A. Fernandes [Masters in law]
A project submitted in part requirement for the award of
MBA (FINANCE) 2013/14
Submitted to Dr. Hulya Oztel (Supervisor)
Module Code: LBPG5002
Date of Submission: 19th September, 2014
Word Count: 10,790 words

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Executive Summary
This in-company project report is founded on the two and half months long internship
program that I had undertaken at the Registered/Head office of HASLED Limited, the
period commencing from 1st July to 13th September, 2014, as a requirement of my
MBA program, majoring in Finance from the De Montfort University, Leicester, UK.
Hasled is an SME (Small and Medium Enterprise) occupied in the business of
distribution of quality LED (Light Emitting Diodes) products, produced in Asia. The
company is registered in UK and presently markets LED products locally in UK. This
in-company project report is based on secondary data and information received from
the company. Apart from the information received from the company the data collected
were mostly journal articles, published materials, news reports, annual reports etc.,
from the databases mostly made available by the university library. I have also made
analysis of LED products globally, the pressing need for efficient artificial lighting
around the globe and the main competitors of LED products in the Global and Indian
LED market. I have discussed the potential of the Indian market through the data
collected and have and have carried out intense analysis in the form of PESTLE and
SWOT. I have marketing mix as marketing/business tool to provide cost effective
marketing solutions for LED products globally, most particularly India. Taking into
consideration the small size and limited resources of Hasled, I have tried to seek
opportunities and have made recommendations for promotion, distribution, and
manufacturing and given methods to raise finance through debt or equity, keeping in
mind, in not losing control of the management for its future growth and development.

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Acknowledgement
I, in all earnestness thank the Almighty for providing me with the opportunity to learn.
I sincerely thank Dr. Hulya Oztel my supervisor, who gave me the necessary guidance
and support to bring out the best in me during the span of my internship. I also give
sincere thanks to my module leader Ashley Carreras and all my tutors of De Montfort
University who supported me right through my course. I am extremely grateful and feel
august that this opportunity has enriched my area of knowledge.
I am highly grateful to Pritesh Madlani (Director) of Hasled to give me this opportunity
and though managing the company single handedly could spare his precious time and
impart necessary information and timely support whenever requested during the span of
this project.

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BRIEF TABLE OF CONTENTS
Topic Page
The Organisation 7
Introduction of Hasled 7 to 8
India as a market 8 to 11
Hasled’s products to be marketed globally 11 to 13
Market analysis of LED products globally and the need for
efficient artificial lighting
13 to 16
Competitors in India 16 to 18
New entrants in India 18 to 20
Global competitors 20 to 23
Analysis of India as a target market 23 to 25
PESTLE analysis of India as a business location 25 to 29
The impact of PESTLE analysis on Hasled’s marketing decisions 29 to 30
SWOT Analysis of India as a business location 31
Observations on the PESTLE and SWOT analysis 32 to 33
Recommendations for cost effective marketing strategy in India 33 to 41
Conclusion 41 to 42
Personal reflection 43
References 44 to 51
Appendices 52 to 64
Figures & Diagrams

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DETAILED TABLE OF CONTENTS
Topic
‘Internationalisation of Hasled (particularly in India) as the target market’
Page
The Organisation
-Hasled Limited
7
Introduction of Hasled
-Hasled’s particulars in brief
-Hasled’s financial particulars
-Hasled’s human resources
7 to 8
India as a market
-Comparison of the Indian rural and urban market
8 to 11
Hasled’s products to be marketed globally
-Some of Hasled’s main products and comparison made with similar
products in the market
11 to 13
Market analysis of LED products globally and the need for efficient
artificial lighting
13 to 16
Competitors in India
- MIC Electronics Ltd
- NTL Lemnis India Pvt. Ltd
- Avni Energy Solutions Pvt. Ltd
- VIN Semiconductors Pvt. Ltd
- Instapower Ltd
- Goldwyn Ltd
16 to 18
New entrants in India
- Eveready Industries
- Power Palazzo
- Panasonic Corporation
18 to 20
Global competitors
-Lemnis Lighting
- Philips
- General Electrical/Cree Inc.
- Redwood Systems
- Illumitex
20 to 23
Analysis of India as a target market 23 to 25

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PESTLE analysis of India as a business location
-Political factors
- Economical factors
- Social factors
- Technological factors
- Legal Factors
- Environmental factors
25 to 29
The impact of PESTLE analysis on Hasled’s marketing decisions 29 to 30
SWOT Analysis of India as a business location
- Strengths
-Weaknesses
- Opportunities
- Threats
31
Observations on the PESTLE and SWOT analysis 32 to 33
Recommendations for cost effective marketing and raising finance
- Marketing mix as a business/marketing tool
- Limitations of marketing mix as a marketing tool
-Corporate aims
-Corporate finance
33 to 41
Conclusion 41 to 42
Personal reflection 43
References 44 to 51
Appendices
- Appendix-I: Some top LED lighting manufacturers of India are discussed
- Appendix-II: Some of the global LED competitors are discussed
- Appendix-III- SWOT analysis of India as a business location discussed
- Appendix-A- List of high income, middle income and low income states of
India
52 to 62
Figures & Diagrams
Fig.1- Changing urbanization map of India
Fig.2- List of high income, middle income and low income states of India
Fig-3-Comparison chart between urban and rural consumers
Fig.4-Hallmarks of an effective marketing mix
Fig.5-Buy, ally or DIY (Do it yourself) Matrix (advantages &
disadvantages)
Fig.6-Compares the industry life cycle of LED lighting to Incandescent and
Fluorescent lighting.
Fig.7-From management to leadership

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The Organisation:
HASLED LIMITED
The meaning HASLED literally means it has LED lighting. However the
meaning behind HASLED is HA-represents- Home Automation, S-represents-
Solar and LED- Lighting Emitting Diodes.
Introduction of Hasled:
Hasled’s particulars in brief:
Registered Name HASLED LIMITED
Slogan -
Date of Incorporation 20th November, 2012
Registered Office Office 12 Beaumont Enterprise Ce
72 Boston Road, LE4 1HB
Chairman/Director Pritesh Madlani
E-mail enquiries@hasled.com
Website www.hasled/com
Source: (Key Note, 2014)
Hasled’s financial particulars:
Hasleds Balance Sheet and Profit and Loss accounts have not been
analysed. Its Share capital structure, consist of ordinary 100 shares. The
Nominal value of each share is £ 0.10 and the aggregate nominal of all the
shares sums up to £ 10.00 (Key Note, 2014). As per details provided by the
director, Hasled has an inventory of about £ 10,000 and debtors/receivables
of about £3,500. It can arrange a sum of £10,000 - £15,000 at call on short
notice. They do not have creditors and/or interest on loans and borrowings.

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Hasled’s human resources:
The director of Hasled is solely responsible for searching and sourcing new
products, negotiating prices with suppliers, ensuring products are up to a
high standard, searching for new customers (Sales), dealing with existing
customers, marketing of the products, website administrations, dealing with
e-mail and phone enquiries. However he is assisted by some of his family
members, a lot of the financial activities (such as invoicing customers) are
done in-house. Marketing activities are also primarily done in-house.
India as a market:
Indian market growth is about 6 percent, possesses significant strength in
low cost labour and technical and managerial skills and also has the
potential for mass manufacturing (Jobber & Ellis-Chadwick, 2013;
Sithemsetti & Borstorff, 2012; Gaur & Shome, 2012). It is an emerging
power in software, design, services and precision industry. The aforesaid
skills have the eyes of electronics multinationals to have their products built
in China and India. The Indian consumer market is growing rapidly and over
a decade would equate to that of China’s market growth of about 9.5%, thus
showing healthy prospects (Jobber & Ellis-Chadwick, 2013; Sain, et. al.
2012; Suresh, 2013; Bhaskaran, 2012). The Indian economy is booming not
only in the physically but expanding online and in mobile markets (Jobber &
Ellis-Chadwick, 2013). The 2014 general elections giving it a stable
government and more being concerned with economic growth and
development, the prospects to expand in India is much brighter than ever
before.
The Indian urban population is set to touch 85 million, next to China and the
urban families desire to spend 2.5 times more of its disposable income than
its rural counterparts (Maqbool & Atiq, 2014), however 41% of the middle
class having 58% of the disposable income is dispersed across numerous
villages and towns (Shanthakumari & Kannan, 2013). Its consumer demand
is on the rise which is 3 to 5 times faster than its economy. Seventy percent
of its population are less than 36 years old and holds 20% of the world’s
population under the age of 24. Approximately 150 million now comprise of

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the middle class market in India apart from the higher middle and lower
middle (Maqbool & Atiq, 2014).
The Indian rural market has about 833 million potential consumers with
majority of the middle class and accounts for the countries fifty percent of
the disposable income. Almost seventy percent of its population is scattered
in villages. The Indian rural market has been targeted by the corporations
and the marketers, as development is rising, coupled with the increase in
purchasing power, literacy levels, social mobility and improved means of
communication through infrastructure development schemes. Thus creating
opportunities to be exploited and taken advantage of (Kumar, 2013). The
growing demand of Indian consumers is on the rise, be it urban or rural.
Table at Fig.2 at Appendix- A gives the list of High Income State (HIS),
Middle Income State (MIS) and Low Income State (LIS) of the India and
how it progressed until the year 2011-12 (Mukherjee, et. al. 2014, p.11-12).
Fig:1- Changingurbanizationmapof India
Source:PopulationProjections2001-2016, CensusCommissioner(citedin
Ravikanthi,2012, p. 95)

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Fig.3-Comparisons between the urban and rural consumers
Source: (Ravikanthi, 2012, p.96)
Though the choices of the urban and rural consumers differ, the rural
consumer is understood to be brand loyal and understands symbols better
(Ravikanthi, 2012; Gupta, 2013). Also due to the expected change in
urbanisation by 2016, the Indian middle income group is expected to grow
between 20-25%, the middle and high income group is expected to grow
between 35-50%, the high income group is expected to grow by 50% and
the low income group would lowered between 0-20%. Thus even with the
contrast between the urban and rural markets, MNCs are vying to have a
major share of the Indian Market for most of their products (Ravikanthi,
2012).

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Thus as the LED products have multiple usages, the most significant being
reducing energy cost by 70%, environmental friendly and give a cheerful
ambience (Choudhary, 2013) it will stimulate India’s need for LED lighting
to significantly enhance its energy efficiency across the spectrum of the
economy. This would enable it to eradicate poverty and improve living
standards by sustaining an economic growth of 8-9% until the next decade
as it is essential, as primary energy production would increase four-fold
(Jessup, 2011). Thus the potential need of LED products is for the urban as
well as the rural market.
Hasled’s products to be marketed globally:
Hasled focuses on supplying high quality multifunctional LED products and
has 28 products in all. The main focus is currently on App (WiFi) controlled
LED bulbs and innovative LED desk / table lamps. It aims to sell
multifunctional products, thus providing retailers with a range of products,
some of its products can also be found on Amazon (virtual merchants) who
are disinter-mediators by going direct to the end consumers (Jobber & Ellis-
Chadwick, 2013). Hasled’s short term plan to market its product in India is
through a risk free approach by partnering with e-commerce websites such
as flipkart.com, jungle.com, eBay.in (eBay India) etc. Its long term plans is
to partner with construction companies that are building residential homes,
thus promoting Hasled’s products while constructing sample flats for the
prospective buyers, as envisaged by Hasled.
Some of Hasled’s main products and comparison made with similar
products in the market:
1. The HASLED 2-in-1 SpeakerBulb. This combines an LED bulb with a
built-in Bluetooth speaker and can be operated via the mobile or smart
phone (Hasled, 2014a).
2. The HASLED WiFi controllable colour changing LED bulb kit. This
allows the user to control their lighting using their mobile or smart-phone or
tablet PC (Hasled, 2014b).

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3. The HASLED dimmable LED lamp with colour changing base. This
stylish lamp acts as a normal LED desk lamp, but also features a mood light
on the base of it (Hasled, 2014c).
4. The HASLED dimmable, portable and rechargeable LED lamp. Being
portable, it features a transparent LCD display (showing the time, date, day
and temperature) with alarm and 4-port USB hub (Hasled, 2014d).
5. The HASLED dimmable, portable and rechargeable LED lamp. This
lamp has more or less the same features as the above, but does not include
the 4 port USB hub (Hasled, 2014e).
6. The HASLED folding dimmable LED lamp, with display screen and the
ability to change the colour temperature. This lamp is also dimmable and
the display screen shows the time, date, day and temperature. This also
boasts an alarm (Hasled, 2014f).
7. The HASLED slim folding LED lamp. This lamp has the same
features as the above, but the design and look is completely different
(Hasled, 2014g).
On the details provided by Hasled and comparing with similar products
available in the market, its prime competitors are Tao Tronics (has a
registered trade mark), Daffodil, who deal with LED lamps ranging from £5
to £20, bulbs costing £8, LED string lights for decoration, potted flower LED
lights battery operated etc., and Lighting EVER (has a registered trade
mark) who mostly deal with LED bulbs ranging from £8 to £50 used for
residential, office, parking, malls and warehouses. Though Philips and
Lloytron are its competitors they are completely on the different level as
their product cost is very high due to the quality of their products.
Thus Hasled at present does not have to deal with much competition as
there are very few competitors in the market, as the LED lighting industry is
at a nascent stage. However on the information received from Hasled, it
aims to target the middle/upper middle class segment of the Indian market

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and their products are designed and priced accordingly. Thus with a
growing middle class (Ravikanthi, 2012; Mukherjee, et. al. 2014) Hasled
need not worry much about competing at the moment but more about
establishing themselves.
Market analysis of LED products globally and the need for efficient
artificial lighting:
Firms are vying for the light-emitting diode (LED) market for manufacturing
and distributing LED products to sustain growth in the emerging economies
for the rapidly growing lighting market. According to Eric Rondolat (CEO) of
Philips Lighting, LEDs are now being used not only for commercial (office,
malls, ware houses, street lights) purposes but also for residential purposes
and the most significant use of the LED products is that they can be
integrated with the internet. This will lead the way for the LED lighting
market towards smart internet solutions. This will enable firms to expand
businesses in LED products globally. For example, Philips and Alibaba
Group Holding Ltd, the Chinese e-commerce giants have signed a contract
for providing smart lighting products to Chinese customers, including cloud
computing services. Users can adjust lighting systems according to their
needs and preferences, via smart phone apps and other internet connected
devices, as it will help reduce costs by providing targeted illumination with
the right light at the right place and time (Huan, 2014; Lovig, 2014).
The LED market worldwide had a growth rate of 9.8% from $11.3 billion in
2010 to $12.5 billion in 2011. According to Strategies Unlimited, a leading
market research firm in LEDs, states that the demand for LED products in
the lighting market has surged from $1.2 billion to $1.8 billion, an increase
by 44% (Singer, 2012). This is due its compact nature, low cost and being
environment friendly, as it replaces hazardous technologies like mercury, it
is expected to grow from $45 million in 2012 to $270 million in 2017.
Comparing the compound annual growth rate (CAGR) of traditional UV
Lamps of 10% the UV LED is expected to grow by a massive 43% during
the same period. In 2012 several UV LED products came to be launched
which included cell phone disinfected systems, nail gel curing systems and

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miniaturized counterfeit money detectors with the supply chain battle to
intensify (Proquest, 2013a).
LEDs are vehicles and engines for the next generation innovations and
future growth. Philips the leaders and innovators in LED products, state that
30% of what they sell are LEDs and it is expected that by 2015 it will grow
by 45% to 50%. The reason being that buyers are drawn due to its durability
as they last decades instead of years and are extra ordinarily energy
efficient as they consumed 15% of the electricity of an incandescent bulb
and also environment friendly compared to fluorescent bulbs that contain
mercury. The U.S. Department of Energy (DOE) estimated that LED
technology has the potential to save the country $250 billion over the next
20 years and reduce carbon dioxide emissions considerably. There is a
sharp descent in the pricing, in 2010 an LED bulb of 12 watts costs $39.97,
by 2013 it was costing $8 and through innovation an 11 watts bulb gives the
same output of light compared to a 12 watts bulb (Gartner, 2014).
LED lighting have features for multiple uses. As they are customizable in
nature they can provide better light for safety in helping and aiding
pedestrians and drivers in navigating sidewalks or twisting roads. Due its
durability and efficiency they are expected to have life of 20 to 22 years and
uses only fraction of energy compared to incandescent lighting lowering
carbon dioxide emissions dramatically. LEDs can be set at wavelengths that
can improve education environment and the lights emitted through them can
boost concentration and even aid in relaxation. LEDs are used for health
and wellness, studies have shown that specific light recipes have enabled to
speed up patient’s recovery in hospitals and the blue light LEDs are used to
ease back pain. LEDs can be commanded and controlled from anywhere
through the internet, via smart-phone applications. LEDs are used in urban
farming as plants respond favourably to different wavelengths and have
shown increase in crop yields. LEDs have sensory intelligence and can
automatically illuminate themselves for the needed illumination depending
on a crowded party or to a dark parking garage. Due to its turnability
feature, it can help employees create lighting environments that suits their

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personality, as they vary in colour and intensity that could boost job
satisfaction and even productivity. Further they are energy efficient, have
long life and low maintenance, non-toxic, reduces carbon impact, resistant
to shock, vibration and corrosion and are cold start capable. Studies boast
that LED lighting can reduce the worldwide amount of electricity consumed
through by 50% and the total amount of electricity consumed worldwide
would drop by 10% (Gartner, 2014; Corrie, 2013; Knuffke, 2013).
In accordance with the research carried out by IEA (International Energy
Agency) and OECD (Organisation for Economic Co-operation and
Development) lighting is responsible for 19% of electricity consumption and
carbon emission of ̴ 6%. The world spends 0.72% of its GDP (Gross
Domestic Product) on light alone. In 2010, World GDP of $63.12 billion was
used for artificial lighting, in today’s current value of $455 billion. Thus the
need for energy saving lighting is essentially needed as too much artificial
light is consumed which costs a lot of energy and can be reduced and
controlled through efficient artificial lighting. Efficient artificial lighting such
as LEDs could save billions of dollars in principle it can reduce energy
consumption by 50%. It can substantially reducing greenhouse gases, more
particularly carbon emission by hundreds of millions of tons per year, while
improving consumers vision as the lighting provided through LEDs is photo-
metrically of high quality (Tan, et.al., 2012). LED lighting along with
renewable energy will help in a long way to stabilise global carbon
emissions and will require contributions from all major countries as 80% of
carbon emissions are related to energy supplies. Also to avoid the global
average temperature from increasing by 2‫ﹾ‬C the need to stabilise global
carbon emissions at 450 parts per million (ppm) is paramount (OECD,
2013).
Thus with LED products providing multiple usages and more significant it
being energy efficient by reducing energy consumption by 50%,
environmental friendly as it can reduce carbon emission by hundred of
millions of tons per year and also avoid rise in global temperatures, the LED

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market is here to stay for a long time to come (Tan, et.al., 2012) with firms
vying to get a share of the LED market (Huan, 2014).
Competitors in India:
The LED Lighting industry is expected to grow and reach $ 1.3 billion by the
year 2018 at a CAGR of 47.3 % between 2011 and 2018. The indigenous
manufacturers ranked below have not being benefited from this growth as
the demands are fulfilled either by imports or the Multinational Companies
(MNCs) who have manufacturing activities outside India. Though there is a
demand for LED products 90 per cent of the manufacturers are making
losses. This is due to low business volumes which ultimately earn low
profits. Also the consumers have faith in leading brands like Wipro, Philips,
Havells, Osram and Halonix as they have global presence but local
relevance, the best example being Philips growth in India (De Jong, 2013).
The leading LED brands available in India who are multi-product MNCs and
could not be ranked as their revenues are consolidated figures including
sales other than LED products namely 1) Wipro India Ltd 2) Crompton
Greaves Ltd 3) Philips Electronics India Ltd 4) Havells India Ltd 5) Bajaj
Electricals Ltd 6) Surya Roshni Ltd 7) Moser Baer India Ltd 8) Toshiba India
Pvt. Ltd 9) MIRC Electronics Ltd 10) Osram India Pvt. Ltd 11) Halonix Ltd
12) Continental Device India Ltd (Chakravarthy, 2011; Chakravarthy & Sen,
2013).
The top LED lighting manufacturers in India for the financial year
2012/2013 as per ranking are:
1) MIC Electronics Ltd (Hyderabad, India) with a turnover of Rs. 930
million, being a global leader in designing, development and manufacturing
of LED products. It has a nationwide network of marketing, sales and
service and operate in Australia, Korea and USA. It has drawn alliance with
Leyard Optoelectronics Co. Ltd, a Chinese firm and jointly plans to invest
US$ 50 million in manufacturing LED chips packing in India. It has also
bagged an order for replacing 69, 541 street lights with LED lighting from

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the Nasik Municipal Corporation (Chakravarthy, 2011; Chakravarthy & Sen,
2013).
2) NTL Lemnis India Pvt. Ltd (headquarters Netherlands, manufacturing
facility Noida, India) with a turnover of Rs. 687.36 million, is a joint venture
of NTL Electronics India Ltd and Lemnis Lighting BV of the Netherlands to
provide LED Lighting solutions to its end consumers in Europe, India and
Africa (Chakravarthy, 2011; Chakravarthy&Sen, 2013).
3) Avni Energy Solutions Pvt Ltd (Bengaluru, India) with a turnover of Rs.
231.42 million, have concentrated on R&D and have excelled in
manufacturing LED lights, fixtures and drivers. It has been certified by
various NABL (National Accreditation Board for Testing and Calibration
Laboratories) accredited labs. It has to its credit 60,000 DC street light
installations, 20,000 AC street light installations and 10,000 down light
installations (Chakravarthy, 2011; Chakravarthy & Sen, 2013).
4) VIN Semiconductors Pvt Ltd (Mumbai, India) with a turnover of Rs.
188.07 million is a major provider of high precision LED components. They
are pioneers in combining the most sophisticated digital control, thermal
management and lighting fixture designs to offer products of international
quality standards and performance. It has an in-house R&D which provides
solutions from design to packaging (Chakravarthy, 2011; Chakravarthy &
Sen, 2013).
5) Instapower Ltd (Gurgaon, India) with a turnover of Rs. 147.16 million is
the largest manufacturer of aviation obstruction lights in India and has to its
credit of installing 100,000 aviation lights in India and other countries. It has
been recognised by NABL as an R&D house. It is equipped with the state of
the art manufacturing and testing equipment and manufactures over 100
products. It has filed 10 patents and about 30 design patents in the area of
LED lighting (Chakravarthy, 2011; Chakravarthy & Sen, 2013).

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1) Goldwyn Ltd (Noida, India) with a turnover of Rs. 137.32 million is an
exporter, supplier and manufacturer of energy efficient LED lights used for
internal and external applications. It has the state of the art photometric
laboratory that enables it to monitor light output for its LED lights. It
maintains a high quality and reliability LED products by manufacturing
critical components and assemblies in-house (Chakravarthy, 2011;
Chakravarthy & Sen, 2013). However due to restrictive word count some of
the top LED lighting manufacturers are discussed in Appendix-I.
Thus most of the manufacturers in India are SMEs who have developed
organically (in-house) or through joint ventures. The SMEs who have
developed through joint ventures have a high turn-over compared to the
SMEs that have developed organically. Thus there is scope for small
manufacturers to establish themselves as the LED industry is at a nascent
stage globally and more particularly in India. The best example is of the new
entrant Power Palazzo which commenced its operation with Rs. 80,000/-
and has grown to a Rs. 120 crore company, is discussed below.
New entrants in India:
The LED industry in India has also seen new entrants like Intel India Pvt.
Ltd, Power Plazzo, Eveready Industries (India) Ltd, Panasonic Corporation
etc., Intel India’s contribution to global research and development (R&D)
efforts and focuses on promoting science, technology, engineering,
mathematics (STEM) education by mentoring PhD students is its major
strength. Intel India has 6,000 employees and about 70% of them are in
R&D work. Intel has spent about US$ 10.1 billion on R&D in 2013 globally
of that $ 2 billion was invested in India alone. They are in collaboration with
National Council of Science (NCSM) have set up “Galileo Corners” in 45
NCSM innovation centres to strengthen students research culture in a bid to
promote creativity, innovation and a Do-it-Yourself “Maker” culture to create
LED displays that respond to social media or for tackling more complex
projects such as automated home appliances which can be controlled
through a smart-phone (Srinivasan, 2014).

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Eveready Industries, who are the largest manufacturers of dry cell
batteries and flash lights in India have recorded a Rs.60 crore turnover from
its Madhya Pradesh operations this financial year and intend to grow further
by 15-20% with innovative rechargeable products with LED and strong
battery backup (Proquest, 2013b).
Power Palazzo which commenced its operations from a meagre Rs. 80,000
has grown to a Rs.120 crore LED lighting company. Due to the growing
demand for protecting environment they developed circuit components that
saved 60 to 70% of energy. They entered with strategic partnership with
Taiwan and Chinese companies and through technical collaboration brought
those products to India. They further designed component suited for Indian
conditions and manufactured those components mainly in Wuxi, Hunan,
Chanzhou, Yanzhou and Shenzhen located in China. They mainly deal with
LED street lights, domestic downlighters and bulbs (Dutta, 2014).
Panasonic Corporation a Japanese enterprise by partnering with interior
designers, will be providing lighting consultants in Asia, particularly India,
Vietnam, Taiwan, Hong Kong and Indonesia. The interior designers will play
the role of lighting consultants locally and Panasonic will provide the
consultants with their unique light plans that would help in creating soothing
and ecological living experience with the company’s lighting products,
based on the housing conditions in each market. They plan to introduce
products such as large and small ceiling lights, down-lights, brackets, line
lights and chandeliers used as decorative ceiling lights, thus providing a
wide variety of residential LED lighting products for the entire house hold.
This will not only help in saving cost, energy and cutting down on carbon
emissions but also will add and increase the value of the house. The
company aims to double its overseas sale of LED interior lighting products
from 3 billion yen, which they achieved in the financial year of 2012/13
mostly by selling their products in the Chinese market to 6 billion yen in
2016. Panasonic plans to build and develop showrooms for distribution of its
products. Panasonic Corporation is a world leader in the field of electronic
technologies and solutions providing customers products in residential, non-

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residential, mobility and personal applications. It operates through its 500
consolidated companies worldwide and recorded net sales of 7.3 trillion yen
for the fiscal year ending 31st March, 2013 (JCN Newswire, 2013).
Global competitors:
The International Lightfair convention that kicked off in the last five decades
at Las Vegas, had about 500 of the world’s largest to small start-ups who
unveiled their world dominion lighting plans, some of the top companies that
outshone the rest are as follows (Fehrenbacher, 2010; Edison, 2014;
Gertner, 2014; Cangeloso, 2013).
1) Lemnis Lighting is a Netherlands based enterprise run by Warren
Philips, the great grandson of the founder of lighting giant Philips. The LED
power house in 2010 had launched six new LED bulbs including the Pharox
500, a 500 lumen replacing the incandescent bulbs and was dimmable. The
company was valued at $ 170 million (Fehrenbacher, 2010). The company
is now offering LED bulbs equivalent to 25 watt at $4.95. Since 2006tthey
have shipped more than 5 million Pharox bulb (350-lumen) and are in the
process of shipping millions more thus making them the world’s leading
supplier of LED bulbs. Lemnis claims that a Pharox bulb (350-lumen) cost $
0.85 in energy use per year compared to a 40 watt incandescent bulb
costing approximately $5.69 per year to use at $0.13 per kilowatt-hour,
three hours a day (Wesoff, 2012). Lemnis Lighting Asia is the world’s most
innovative lighting company and aims to reduce its customers lighting
energy cost, reduce global carbon emissions and through breakthrough
technology create light that matches sensitivity of the human eye for the
evening and night-time vision (LLA, 2014).
2) Philips the Dutch lighting giants had launched several products and
boast that they can deliver 80% of energy saving products which can last
upto 25,000 hours or 25 times more in duration than the common
incandescent bulbs. They are into radical innovation wherein LED lights turn
cerulean blue or sunset pink and/or dim or brighten wirelessly and can pulse
along with speech by command given via a smart-phone. They boast that

21
50% of the total electricity consumed globally would be reduced by 10%,
through LED lighting (Fehrenbacher, 2010; Gertner, 2014).
3) General Electrical/Cree Inc. had announced a 9 watt LED bulb that
could replace a 40- watt incandescent bulb that could last 17 years. The
company also plans to have innovative ideas for organic LED (OLED)
lighting applications. They have invented the bytelight technology, wherein
LED lighting fixtures can communicate with the customers through smart-
phones while shopping, by playing the role of satellites through indoor GPS
(Global Positioning System). As 80% of our time is spend indoors, GE have
come out with wide range of possibilities through radical innovation, many of
them are yet to be conceived. For example the lights could enable your
phone to beep if the manager held you at a particular booth too long. The
light could tell the manufacturer how much time a guest spent at his or his
competitor’s booth (Fehrenbacher, 2010; Edison, 2014).
4) Redwood Systems is a company based in Redwood city, California; it
officially launched its networked lighting management technology in 2010.
The main advantage of its LED products have is that they use sensors,
lighting and can digitally measure light levels, motion, occupancy and
temperatures, thus saving energy of lighting in commercial buildings. They
are able to power with low voltage network upto 64 LED light fixtures. They
are raising money through venture partners (Fehrenbacher, 2010). It has
released its next generation Gen-3 platform for commercial properties,
which includes a new Engine-3, new environmental sensors and centrally
stores available building data. Apart from energy savings it provides
customers with intelligent data on space utilisation and temperatures across
commercial areas, data centres and schools, which help in taking cost
effective decisions for lighting, heating and cooling by drawing strategic real
estate portfolio plans. They are also in the process of upgrading its software
to cloud based-data. Thus ushering the next generation of intelligent
buildings through lighting (Fremont & Calif, 2013).

22
5) Illumitex is a Texas based company, and have through innovation
redesigned an LED package that can give light two times brighter than its
competitors. They sell its LED technology to manufacturers those who are
targeting mobile displays, televisions and general lighting. One of its main
customers are Singapore’s LED Works (Fehrenbacher, 2010). As LED
lights have become energy efficient more farmers can replace traditional
grow lights to save money and energy. As light from LED can be precisely
controlled it can boost productivity and adjust its light to encourage different
traits in food. For example a vertical farm increased its plant productivity by
200 times (LaMonica, 2014). The company was chosen by PlantLaba Dutch
Company as the exclusive supplier of advanced LED technology for its
66,000 square foot R&D centre. The Aurora LED grow light is used in both
greenhouse and enclosed contained environments it is designed to
maximise energy efficiency and offers five times the output of standard
products. The Quantum LED grow light can adjust 0% to 100% output. They
are leaders in controlling the wavelength through its granularity and
precision (Gray, 2014; Illumitex, 2014). However due to restrictive word
count some of the global competitors are discussed in Appendix-II.
LED lighting industry is on the path to grab 80% of the market share from
the global lighting industry, due to competition, cost reduction and
continuous innovation from the some of the aforesaid leading LED lighting
companies. The LED lighting industries market share has jumped to 25% in
2014 from 12% in 2012. The lighting industry was relatively stable for the
last century. But with companies like Philips and Osram, who depended
heavily on traditional lighting, are now forced to invest in LEDs. As revenues
are being flattened due to high volume LED production, manufacturers will
be giving more importance to technologies. Cree a new entrant and
subsidiary of GE recently launched a LED bulb for less than $10 beating
Philip on the shelf space. The cost of LED is plummeting by 25% a year due
to higher volume of increasing consumer demand and the drive to cost
effective rather than just adding value. China is soaring in the manufacturing
of LED products as its consumers are cost sensitive and as it controls vast
rare-earth materials for producing LED, it will use its position for trade

23
advantage against the west as it conserves scarce resources (Lacy, 2013;
Tenningas, 2013a; Tenningas, 2013b; Daniel, 2012).
Presently as the competition in the LED lighting market is not fierce there is
scope for new entrant to establish themselves in the LED lighting industry.
Following the example of Power Palazzo above, Hasled can initially built its
distribution network through retailers, construction companies and through
digital marketing. Small producers/distributers can use multi channel
intermediaries as they combine large number of small purchases into bulk
for transportation as it is cost effective to meet transportation cost for
individual customers (Jobber & Ellis-Chadwick, 2013). For promotion they
can use interior decorators, architects and even event managers to promote
its products as carried out by Panasonic using the services of interior
decorators as agents to promote its products. It can later take up
manufacturing activities through joint ventures as they intend to create their
own range of products in the future and distribute them.
Analysis of India as a target market:
There are several reasons for targeting India as a potential market for the
LED lighting industry and ancillary products;
The most important basis for targeting a market is to observe the country’s
political will in boosting manufacturing in any particular industry. This can be
noticed by the policies the Indian government has developed to kindle
manufacturer’s interest for adopting the LED lighting in the country. In the
case of India the government has funded a number of pilot projects for LED
street lighting. According to industry reports the lighting market in India is
valued at $ 1.4 billion and is mounting at a robust rate of 18% annually. The
National Manufacturing Competitive Council (NMCC) having a cabinet
ranking and chaired by the Ministry of Power, submitted its report through
its core committee Bureau of Energy Efficiency (BEE) in 2010, that the need
to stimulate LED lighting in India was to significantly enhance the energy
efficiency across the spectrum of the economy. As to eradicate poverty and
improve living standards by sustaining an economic growth of 8-9% until the

24
next decade is essential as primary energy production would increase four-
fold (Jessup, 2011).
On the basis of research replacing incandescent bulbs with LEDs could
reduce household electricity by 30% not neglecting street lighting
applications and the commercial sector. The aim of the government is to
attract leading LED manufacturer’s to rapidly reduce product cost (as
majority of the Indian population falls between the lower middle class and
middle class range) and eliminate other barriers of limited products,
absence of national standards for LEDs, lack of testing protocols and
laboratories and lack of incentives thus giving boost to attract major LED
firms in India. Firms like Philips, Crompton and Greaves, Bajaj Electricals
are working closely with the various municipalities, BEE and The Climate
Group in enabling India to follow Japan, China, Taiwan and Korea towards
high-brightness LED revolution in Asia. Also the Budget of 2014 boasts of
reduction of custom duty on LED products from 10% to nil. Thus with a
reform oriented budget the Indian markets have rallied with the Bombay
Stock Exchange (BSE) Sensex and National Stock Exchange (NSE) Nifty
rose by 313 and 102 points respectively (Jessup, 2011; Budget, 2014;
Economic Times, 2014).
According to Philips (Philips Electronics) India is Royal being its sixth
largest market where it operates. Doing business in India for more than 80
years they are less concerned even if the growth is fast or slow at times,
they are focused. To them the business consumers are spending be it
kitchen appliances, personal care or garments, as they consider it vital for
their life-style and are not dependent on the state of economy or inflation.
As lighting contributes to about 50% of the India’s revenue and 95% of the
energy consumed dissipates into heat, the LED products reduce energy
cost, reduce fuel emissions and also create a cheerful ambience, being the
drivers. 35% of India has no power coverage, the growth in India and China
will be very healthy. Indians think we are local and we are proud of it
(Choudhary, 2013). However proper research and care should be taken
before entering the Indian market as there are doubts in treating the Indian

25
market as one market, due to varied inflation and growth results widely
among the states. For example table at Appendix-I, depicts, states in the
year 2011-12 having the most significant growth, wherein states like Andhra
Pradesh, Arunachal Pradesh, Goa, Gujarat, Harayana, Himachal Pradesh,
Karnataka, Kerala, Maharashtra, Nagaland, Punjab, Sikkim Tamil Nadu and
Uttarakhand , fall in the High Income State (HIS) list (Mukherjee, et. al.
2014, p.11-12). This is mainly due to their topography, remoteness, or they
being rural, urban or industrial states (Mint, 2014).
PESTLE Analysis of India as a business location:
Companies are stepping up the gas to present themselves in the
international markets either to increase sales and profit or to gain resources
and features for its business, which cannot be availed locally. Due to
globalization and the advancement in technology particularly in the field of
communication and transportation, companies are moving to potential
locations/markets for its business operations globally. However a company
must scrutinize the economic, political, legal, financial, social, cultural and
demographics of that targeted market. Today companies are eyeing the
BRICS nations (Brazil, Russian Federation, India, China and South Africa)
(Sithemsetti & Borstorff, 2012) our target is restricted to India.
Political factors: Though India has a coalition government the NDA with its
present Prime-minister Mr. Narendra Modi in the fore front has won by a
majority in the 2014 general elections and hence the earlier disadvantages
of conflict amongst its allies, wherein the regional parties for its regional
political benefits cause hindrances when strategies are drawn for national
benefit will be well managed (Gaur & Shome, 2012). Mr. Modi who is
believed to be economically driven for his forward thinking and proactive
with the economic reforms as carried out in the state of Gujarat is expected
to do it on a national level (Taylor, 2014). The reduction in the basic
customs duty for LED products from 10% to nil is another step taken by the
government in causing reforms to attract manufacturers and investors to
invest in the LED lighting industry (Budget, 2014)

26
The present scenario will not only benefit Indian investors who restrained
themselves from investing in India but will also boost foreign investor’s
confidence in India (Taylor, 2014). The current account surplus (CAS) of
$22 billion was reported first time since 1978 compared to the current
account deficit (CAD) of $ 89 billion in 2012/13 during the UPA regime. Also
the NDA which once opposed foreign technology is on the path of opening
100 percent Foreign Direct Investment (FDI) in defence and real estate,
thus further opening up the economy. India having a strong domestic
industry can compete with foreign competition and thrive (Punj, 2014;
Mishra, 2014; Sithemsetti & Borstorff, 2012).
Economic factors: India’s economic slowdown is more due to its domestic
reasons than global slowdown reports International Monetary Fund (IMF)
largely due to the increasing bottlenecks in infrastructure. In 2009/10 and
2010/11 India’s GDP growth stood at an impressive 8.6% and 8.9%
respectively. However it brusquely decelerated to 6.7% in 2011/12 and
finally slumped to 4.5% in 2012/13. However with a stronger global scenario
including BRICS, improving exports competitiveness, a favourable monsoon
and the recent general elections bringing in a stable government projects a
growth of about 6% (ET Bureau, 2014; Mishra, 2014).
Slow growth and recovery of the developed markets makes India less
attractive to foreign investors. Also the Indian currency dip against the US
dollar made imports more expensive and have contributed to high inflation
not neglecting the down fall in manufacturing activities at 2%. With 13
million workers adding to the work force each year and about 50% of the
population reeling under the age of 25, India should strive to achieve a
double digit growth rate (Chanco, 2013; Limaye, 2014).
India has a robust, transparent and stable credit market and boasted a
growth of 17.1% in bank credit to private sectors in 2010 and has an
average daily turnover of $ 36 billion. The Indian Rupee is fully convertible
and freely purchased for trading, needing RBI (Reserve Bank of India)
approval in certain cases. Through its capital market Indian operations can

27
be financed by means of equity, debt and borrowing. Foreign debt is treated
as FDI and equity capital can also be raised through FCCBs (Foreign
Currency Convertible Debentures), GDRs (Global Depository Receipts) and
ADRs (American Depositary Receipts) (Sithemsetti & Borstorff, 2012).
Social factors: The major financial scams in 2011 relating to the 2G
Spectrum and the Commonwealth Games, ranking it at 95th position
amongst 183 countries on the Corruption Perception Index (CPI) in 2011.
According to the World Economic Forum’s Global Report 2011 to 2012, the
second most pervasive factor is corruption, headed by inadequate
infrastructure. The Anna Hazare movement on anti-corruption displaying
significant setbacks for reducing corruption, brought significant attention to
global media, that made FII (Foreign Institutional Investors) lose confidence
in 2011 to 2012 (Gaur &Shome, 2012; Nuruzzaman, 2012). According to
TATA a multinational company (MNC) corruption influences license
approvals, contract awards and to the extent terms of contractual
obligations. Truckers pay over $1 trillion in bribes for cross border driving.
Terrorism as a factor is a concern as it is mostly instigated from overseas
and can interfere with MNCs operation (Sithemsetti & Borstorff, 2012).
In India roughly 420 million of the population reside in the urban areas,
while 850 million live in the rural areas. The rural India market is vast and
has to offer opportunities in abundance with middle and high income
households expected to grow about 60 million, five times more than its
urban counterpart, taking in its stride the economic disparities among its
states and territories. This is due to the saturation of the urban markets and
increase in agricultural productivity generating disposable income and
substantially increasing the purchasing power of the rural communities
(Kumar, 2013; Kotni & Prasad, 2012; Nuruzzaman, 2012). The opening of
100% FDI in the real estate sector through automatic route is another
positive feature. Risk by foreign real estate investors could be mitigated by
hiring local employees, borrowing locally to reduce exchange rate
fluctuations (Kumar, 2013; Sithemsetti & Borstorff, 2012).

28
Technological factors: There has been decent advancement in technology
and science in the recent years in the field of communication systems,
automobiles, electronic devises, building and architecture, or the computers.
However compared to the developed countries India is far behind (Gaur &
Shome, 2012).The Indian Information Technology has been the greatest
success stories in the world. The demand for electronic hardware from the
estimated $45 billion in 2009 is likely to increase to $400 billion by 2020,
which encompasses exports of $80 billion (Sithemsetti & Borstorff, 2012).
Foreign companies must invest in LED lighting industry to make yet another
success story. For example, Intel India through R&D efforts is focusing on
promoting STEM education by mentoring PhD students is its major strength.
It has invested $ 2 billion in India alone. They in collaboration with NCSM
are promoting a Do-it-Yourself “Maker” culture to create LED displays,
which can be controlled through a smart-phone (Srinivasan, 2014).
Legal Factors: India has been signing various bilateral and regional
trading agreements, offering preferential tariff rates and economic co-
operation. The regional free trade agreements have the prospects for MNCs
to setup new businesses in India (Sithemsetti & Borstorff, 2012). India is
ranked behind China, Pakistan and Nigeria on the ease of doing Business
Index (2010). It has a written constitution providing protection to child
labour, slavery, equality of opportunities, forced labour etc., in the form of
fundamental rights, though its implementation is of some concern. There is
a need for new labour regulations that can attract more labour intensive
investment as India needs job oriented projects for the estimated 13 million
workers it adds each year to its workforce (Nuruzzaman, 2012).
India must adopt new policies for LED lighting to save energy and also as it
will enable to reduce carbon emission. As the construction market is
booming, it has been estimated to reach $154 billion in 2015 and swell to
$500 billion in 2025. As investment in green buildings are forecasted at $30
billion in 2015, the current policies on energy efficiency may become
redundant considering the growth rate of the construction sector
(Mukherjee, 2012).

29
Environmental factors: The most simplest and effective method for
reducing greenhouse gas emissions due to lighting energy use is by
replacing kerosene lamps with white LED lighting in India and the other
developing nations (Mills, 2002). The carbon dioxide emissions emitted
using kerosene lamps, diesel, candles, bio-fuels etc., is said to be
equivalent to the emissions spilled out by 30 million cars (Mills & Jacobson,
2011). As energy is closely linked with historical prosperity, the dependence
on conventional energy possess great risk to global warming pollution and
also risk to real income from higher energy prices (Gunatilake, et. al., 2014).
Thus replacing kerosene lamps, diesel, candles, bio-fuels etc., with LED
lighting can contribute to sustainability, aiming at higher eco-efficiency and
causing negligible risk to real income from higher energy prices (Figge, et.
al., 2014). Also energy efficient products like air-conditioners/refrigerators
are growing by about 65% and about 30% in other consumer products.
LEDs will in all probabilities replace the conventional lighting services as it
cuts down power consumption, emits negligible heat, with no ultra-violate or
infra-red radiation and are eco-friendly (Economic Times, 2012).
The impact of PESTLE analysis on Hasled’s marketing decisions
On the political and legal front, the favourable government policies, a stable
government headed by a leader driven by forward thinking and proactive
economic reforms, reduction on customs duty for LED products from 10% to
nil, the proposed opening of FDI in sector like real estate, regional free trade
agreements encourage setting up new businesses, with its written
constitution and labour laws though pro-labour, will be a boost for Hasled as
the demand for LED products will rapidly increase.
On the economic front though the western nations were hit by recession,
India’s economic slowdown was due to the increasing bottlenecks in its
infrastructure as reported by IMF and also it has a huge domestic
consumption, wherein Hasled’s marketing decisions will not be hampered.

30
On the social front Hasled will have to deal with corruption as most MNCs
have learnt to deal and are successful, JCB’s success in India is exemplary
even during recession in 2009 it became the largest manufacturer in the
Indian construction market and sells 52% of its manufactured equipment
within the country. It was positioned as the largest single market by volume
and accounts for 25% of global sale, though they have issues in China
relating to technology theft (Wilson, 2014). On the technological front very
few companies have invested in R&D towards LED products and thus
bringing new LED products and technology is encouraged by bringing down
the customs duty which HASLED will benefit to sell its products. On the
environmental front reducing greenhouse gas is a global issue and India will
benefit, if Hasled introduces its products in replacing kerosene lamps in
India.

31
SWOT Analysis of India as a business location:
Strengths
1) Young urban and large rural
population with growing
disposable income.
2) Increasing levels of literacy.
3) Availability of products, raw
materials and human resources
through emergence of a working
class.
4) Huge demand for diverse
products and changing lifestyle.
5) Steady growth rate.
Weaknesses
1) Lacking in infrastructure and
distribution facilities
particularly in the rural areas.
2) Lack of Research and
Development (R&D) in
technologies.
3) Neglecting development
activities in rural market
leading to low consumption
levels.
4) Neglecting the manufacturing
sector and greater
dependence on service sector.
5) Labour laws and tax system
are not business friendly.
Opportunities
1) Change in socio-economic
lifestyles
2) Favourable government policies
giving rise in development of
infrastructure facilities and
technologies.
3) The untapped rural customers
with rising income and rapidly
changing habits and taste.
4) Rising organised retail sector.
5) Investment opportunities
6) Development of technologies
through joint ventures
7) Lack of access to electricity.
8) A mixed market of low income
and highest income households.
Threats
1) Rising grey market activities.
2) Lack of knowledge to identify
products (brand awareness).
3) Prevalent customs and
traditions particularly in rural
areas.
4) Lower literacy level in rural
areas.
5) Delay in implementation of
policies.
Source: (Kotni & Prasad, 2012; Sithemsetti & Borstorff, 2012; Bansal, 2014;
Dash & Sabat, 2013; Saxena, & Shrivastava, 2013).
At Appendix-III, the SWOT analysis of India as a business location has
been discussed in detail.

32
Observations on the PESTLE and SWOT analysis
The role of marketing mix as a marketing/business tool can be used by
Hasled to determine its products or brands offer which are associated with
the 4P’s in case of production and 7P’s in the case of services provided
(Mittal, 2014). Hasled aims to market its products in India through e-
commerce websites such as Flipkart.com, junlee.com, eBay.in etc., which
are similar to Amazon.com, as they intend a risk free approach to tap the
Indian market. Their second option would be to woo construction firms who
are in the business of building residential complexes, wherein Hasled’s
products are promoted at an early stage of development wherein
prospective buyers, before booking, come to examine sample flats which
are completed in all respects and most of Hasled’s products are used in the
sample flat. Such a strategy will have a twofold effect, firstly it will enable
Hasled to promote its products in the market and secondly it will add value
to the flats/apartments, as they would be providing LED products, which are
energy efficient as they reduce energy consumption by 50% to 70%,
environmental friendly as it can reduce carbon emission by hundreds of
millions of tons per year and also avoid rise in global temperatures (Tan,
et.al., 2012; LLA, 2014).
However before Hasled commences its promotion campaign and
distribution of its products in India it has to work on the following areas;
Logo:
Though Hasled has a logo it has not been registered as a trade mark and
needs to be registered at the earliest from preventing its logo from being
copied or imitated. The meaning literally means it has LED lighting.
However the main reason the business was set up and the meaning behind
HASLED is HA-represents- Home Automation, S-represents-Solar and
LED- Lighting Emitting Diodes.

33
Slogan: Hasled does not have a Slogan and it is recommended that they
should have a slogan to connect to its customers like “Illuminating life and
minds” or “lighting up your life” as LED lighting has features of multiple
usages (Gartner, 2014; Corrie, 2013; Knuffke, 2013). Slogans stand as a
battle cry for the organization and aids in competing with competitors. They
have to be a minimum of three to a maximum of five words, catchy, easy to
recall and should connect with the company and its product, as it keeps
both the slogan and the product alive and fresh in the minds of the
consumers thus influencing product patronage (Esuh, 2014).
Contractual terms:
Hasled should bargain for exclusive distribution rights for distributing its
products in the states they intend to distribute their products in India. This
will enable them to capitulate on the market share and also keep the
manufacturers from distributing its products through itself or others (Lexis
Library, 2014).
Recommendation for cost effective marketing and raising finance
Marketing mix as a business/marketing tool:
Hasled at present is a company that is operated on one man show with very
limited cash flow and human resources. It was incorporated in the year
2012 and its main objective is in carrying out business in wholesale of
furniture and ancillary products (Key Note, 2014). Hasled’s strategy for
marketing its products should be in line with a promotional mix of
advertising, personal selling, sales promotion, direct marketing, e-marketing
and on line promotion, thus drawing an effective and sensible marketing mix
decisions (Jobber, 2013). As the LED industry is at a nascent stage and so
is Hasled which has been recently incorporated, it should formulate an
effective marketing mix strategy to target its customers in short term as well
as long term perspective. Fig.4, presents the Hallmarks of an effective
marketing mix, as given below.

34
Fig.4: Hallmarks of an effective marketing mix
Source: Adapted from (Jobber, 2013, p21)
Promotion
Advertising:
In the words of (Jobber, 2013, p574) is “any paid form of non-personal
communication of ideas or products in the prime media, i.e. television, the
press, posters, cinema and radio, the internet and direct marketing”.
Through advertising a product can reach a wide audience rapidly, but
expensive (Jobber, 2013). However in the case of Hasled, presently
advertising through the internet would match its corporate resources and
should simultaneously work on its brand domain to reach out to its target
market, as it has yet to achieve a status of a brand.
Personal selling:
In the words of Jobber, 2013, p863) is “oral communication with prospective
purchasers with the intention of making a sale”. In the case of Hasled
having very limited resources, they should concentrate on personal selling.
For example, they should as a priority approach under construction
residential as well as commercial building societies with its products having
Effective
marketing mix
Matches
customer needs
Well blended
elements of
4 Ps
Matches
corporate
resources
Creates a
competitive
advantage

35
multiple usages as that would in all certainty add value to residential
apartment, business premises and the societies as a whole.
Sales promotion:
In the words of (Jobber, 2013, p864) is “incentives to customers or the trade
that are designed to stimulate purchase”. It also means sales are affected
through discounts, trade shows, games, giveaways, sale displays, special
offers and other related activities (Chowdhury, 2014). In other words it could
promote its products through trade shows, agents, interior decorators, event
managers, suppliers, lighting contractors etc. For example Light India is a
trade show held in respect of International Lighting Exhibition, every two
years is scheduled from 18.09.2014 to 21.09.2014 and India’s first
exhibition on LED products and technology is being held on 05.12.2014 to
07.12.2014 at Pragati-Maidan, New Delhi. Also AD: Tech New Delhi, the
leaders in Digital-marketing & Advertising is holding its conference and
exhibition in March 2015at the Leela Ambience Hotel and Residencies
(NMDC, 2014).
Direct marketing:
In the words of (Jobber, 2013, p859) is “the distribution of products,
information and promotional benefits to target customers through interactive
communication in a way that allows response to be measured”. The
increasing use of digital channels has given direct marketers abundant
opportunities by using a combination of media (Jobber, 2013). Hasled with
its very limited resources but by stretching itself a little can use direct
marketing materials like, brochures and/or word documents product
specific, SMS service, flyers (Chowdhury, 2014) and demo to be provided to
the target customers in schools, universities, residential societies,
construction sites, hotels, restaurants, business houses, hospitals etc.
E-marketing and e-commerce (virtual merchants):
In the words of (Jobber, 2013, p859) is “is a term used to refer the use of
technology (telecommunication and internet-based) to achieve marketing

36
objectives and bring the customers and supplier closer together”. Today
consumers use social media and internet to explore new products and
prices for making purchases. It enables the organization to reach target
market, communicate and interact with customers, it is the most
inexpensive method to promote and advertise product and services. For
example facebook has become popular in advertising products. It can also
provide customer service and support efficiently and speedily (Chowdhury,
2014). Hasled has its own website and should stretch itself to reach more
targeted customers as the number of competitors and new entrants are
rapidly rising in the nascent LED lighting industry.
Place/location for effective distribution channels
Hasled being a wholesaler it must have effective distribution channels
through which the products are passed easily to the customers. It has to
also ensure that products and services that they provide are available at the
right time, place and quantities with cost effective access in order to create
a competitive advantage (Jobber, 2013). As Hasled’s products are
manufactured in Asia, they should find ways and means to distribute their
products directly to the Indian retailers, suppliers and/or its customers, to
gain competitive advantage towards not only product cost but making the
products available at the right time and in the right quantities.
Pricing
Price is the most important element of an effective marketing mix as it
represents profit received for the product marketed by the company, all
other elements of the effective marketing mix represents cost (Jobber,
2013). The India market being the second most emerging market after
China, with its strength and opportunities is the ideal market for the LED
lighting business after China. As the Indian market is a mix of low income
and high income group and as estimated that the low income group would
shrivel by 60% and the high income group would double by 2015/16
(Kumar, 2013; Kotni, 2012), products offered to the low income and the high
income could be priced accordingly, keeping in mind the multiple usages of

37
LED and the diverse needs of the low income and the high income group,
there are opportunities galore.
Product
In the words of (Jobber, 2013, p863) is “a good or service offered or
performed by an organization or individual, which is capable of satisfying
customer needs”. It is the decision to be taken by the organization to target
the group of customers before offering the product. Taking into
consideration the multiple usages of LED products, Hasled should target
low income group with low cost products, while the high income group with
disposable income they generate can be offered high end products. Thus
Hasled should not only concentrate on the urban market but keep in mind
the growing rural market which the leading corporate are on the prowl to
exploit.
Brand building:
As Hasled has yet to achieve the status of a brand they should embrace
new brand identity building blocks for building its brand which includes
elements such as brand vision that represents existence and manifests its
core values, mission an important element of the brands philosophy, values
capable of building brand stakeholder relationships, personality in
associating a set of human traits that presents the basis for brand consumer
relationship, core competencies derived from the brands vision, values that
are sturdy, favourable and unique compared to other brands. It is
experienced that brands are socially fashioned with consumer’s involvement
and relationship that is unique between the brand and its stakeholders.
Today market communications contribute towards brands equity as apart
from the traditional advertising mediums like television, radio, magazines
and newspapers the electronic word-of-mouth allows marketers to interact
with consumers in understanding their needs, requirements and purchase
behavior(Petek & Maja, 2013). Hasled to secure its market share must also
concentrate on brand building.

38
Limitations of marketing mix as a marketing tool
Marketing mix as tool used by any firm could vary according to its
resources, marketing settings and the changing needs of its customers or
clients. Even the importance of some elements may vary from time to time
and decisions have to be taken considering all the factors. Thus a number
of strategies could be derived by using the marketing mix as a tool (Mittal,
2014) Thus in the case of Hasled taking into consideration its scarce
resources it has to derive cost effective strategies, but at the same time the
other elements of brand building, promotion etc cannot be ignored.
Corporate aims:
Hasled could be compared to a niche company, which serves a limited
segment of the market locally, offering good quality products that award
healthy profits (Pike, et. al., 2012). However as firms are vying for the LED
market due to its multiple usages for commercial and home purposes
(Huan, 2014) it would be the appropriate time for Hasled to plan and shift
from a niche to a global company that could compete in the worlds market
with global players, initially by distributing products and later within a period
of five years manufacture its own products for the targeted consumers thus
combining product and cost advantage to gain competitive advantage (Pike,
et. al., 2012).
Hasled’s prime objective may not only be profit but it could be the creative
urge of most entrepreneurs desires to create a thriving company not
neglecting the survival of the business. However in most cases to realize
their full potential they have to part with a degree of control by offering a
share of action to external participants or stakeholders (Pike, et. al., 2012).
Fig.5, represents advantages and disadvantages of Acquisition, Alliances
and Organic development.

39
Fig.5: Buy, Ally or DIY (Do it Yourself) Matrix (advantages and
disadvantages).
Source: (Johnson, et. al., 2011, p347)
Hasled having scarce resources acquisition is ruled out. The best option
would be forming an alliance, with retailers, interior designers, architects,
building contractors having a sound network for marketing and distribution
of its products.
As Hasled also aims in the long term to design and create their own range
of products and also distribute them, they should look for potential partners
Buy Ally DIY
High Urgency Fast Fast Slow
High Uncertainty Failures potentially
saleable
Share
losses &
retain
buy
options
Failures
likely un-
saleable
Soft Capabilities
Important
Culture & valuation
problems
Culture &
Control
problems
Cultural
Consistency
Highly Modular
Capabilities
Problem of buying
whole company
Ally just
with
relevant
partner
unit
Develop in
new venture
unit

40
who would provide them with a global network for distribution of their
products, having the necessary infrastructure and human resources for
manufacturing its products on a large scale for meeting the demands of the
market, thus combining product and cost advantage for a competitive
advantage and also willing to jointly develop new products through R&D.
Power Palazzo a new entrant as discussed above, had commenced their
business with a meager Rs.80,000/- and today through alliances has a
business of worth Rs.120 crores, which is exemplary (Dutta, 2014).
The last option of organic development is not ruled out though it is slow.
Hasled could develop a separate and new venture unit or division without
involving the entire organization as at present it has the status of a holding
company (Johnson, et. al., 2011; Chandra, 2011; Pike, et. al., 2012).
Corporate finance:
As Hasled has scarce resources and at present are reluctant to forge any
alliances as they intend to keep their strategies and plans abreast.
However as they intend to organically develop forge ahead they need
finance. With lot of growth potential in the LED lighting industry, they should
not hesitate to borrow and go ahead with their plans. As already stated
earlier any firm to realize their full potential have to part with a degree of
control by offering a share of action to external participants or stakeholders
(Pike, et. al., 2012), thus the following options can be considered to raise
finance without parting control of its management.
As its borrowing seems to be low, they have a greater opportunity to raise
debt compared to a firm with high borrowing. Capacity to raise debt finance
depends on the industry and the security the firm can offer. As the LED
industry is in the nascent stage with high growth potential in coming years,
not only in the emerging markets of the BRICS nations but globally, banks
and financial institutions would be willing to finance as they gain to benefit
on tax reliefs (Pike, et. al., 2012).

41
Hasled could also raise finance through government backed schemes like
EIS (Enterprise Investment Scheme) offering attractive tax reliefs and
freedom from capital gain tax for investors, if investments are locked for
minimum of three years (Pike, et. al., 2012).
The UK government also provides fiscal incentives under CVS (Corporate
Venturing Scheme) by granting relief on corporation tax if investments are
locked upto three years and breather to the assisted company as the
investing company cannot hold more than 30 percent of the issuing
company’s ordinary share capital, thus minimizing control. However the
assisted company’s gross assets should not exceed £ 15 million or as limits
provided by the government from time to time (Pike, et. al., 2012).
Hasled can also raise equity finance through VC (Venture Capital) offered
by specialist merchant banks wanting to buy stakes in firms with high
growth potential, even though involving a high risk of loss, with investment
locked in for five to ten years or more with funds over £ 250,000 split into
debt and equity to offer a degree of security, but anticipate an annualized
returns of 30 percent or more (Pike, et. al., 2012).
Conclusion:
I am immensely delighted to conclude this report as part of my in-company
project. The report manifests that the research carried out by me in the
interest of Hasled has detailed information with co-ordination between me
and Hasled. As Hasled has been recently incorporated garnering
information was difficult, as firms tend to keep their information abreast.
However I consider myself fortunate to get this opportunity to work with
Hasled in providing me scope in discussing my ideas based on the modules
covered in my learning.
The LED lighting industry is at its nascent stage and there is presently
tremendous potential for growth to firms who have already moved or are
planning to move into this industry, as they could gain and increase its
market share even though there are some big players in the global market.
Fig. 6 represents the industry life cycles of the various lighting industries.

42
Fig.6: Compares the industry life cycle of LED lighting to Incandescent
and Fluorescent lighting.
The Industry Life Cycle
C
Introduction
Time
Growth DeclineMaturity
Incandescentlighting Fluorescent lighting LED lighting
Source: Adapted from (Obembe, 2014).
Thus with an emerging market like India with all its strengths and opportunities
but not neglecting its weakness and threats, lighting contributes to about 50%
of India’s revenue, also 95% of energy consumed dissipates into heat. LED
products apart from its multiple usages can also reduce energy cost, reduce
fuel emissions and create cheerful ambience, being the drivers for a potential
business growth in the LED lighting industry. Hasled should in all probabilities
consider entering the Indian market by forming an alliance, with retailers,
interior designers, architects, building contractors having a sound network for
marketing and distribution of its products at the earliest. For promotion they can
choose to display their products in trade fairs held in India on yearly basis or
through social media which is cost effective. The LED lighting industry is about
to grab 80% of the global lighting industry (Lacy, 2013; Tenningas, 2013a;
Tenningas, 2013b; Daniel, 2012).

43
Personal reflection
As part of my internship I got a firsthand experience to observe the initial
startup of an SME with very limited resources but with the potential to establish
itself in the LED lighting industry in the years to come. During this span of my
internship I could understand the difficulties faced by the company and
garnering information was difficult as firms tend to keep their information
abreast. I have on the basis of the modules covered in my learning program
attempted to give recommendations through frame works, for cost effective
marketing in India, through alliances or organically and also means of raising
finance for future development and growth. I am also of the belief that the
director of Hasled has to add to his managerial position and in addition also
take the position of leader, as though leadership cannot replace management it
should be in addition to management, as management and leadership cannot
be mutually exclusive but over lap
Fig.7- From management to leadership
Source: Vershinina, 2014, p9)

44
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52
Appendices
Appendix-I
7) Sujana Energy Ltd (Hyderabad, India) with a turnover of Rs. 93.7 million
is in the business of renewable power generation, advanced LED lighting
and solar photovoltaic applications catering to consumers and commercial
markets worldwide. They manufacture indoor, outdoor and portable LED
lights. In 2010 it has drawn a strategic alliance with Nichia Corporation of
Japan to explore new opportunities in LED lighting and display
(Chakravarthy, 2011; Chakravarthy & Sen, 2013).
8) Optics & Allied Engineering Pvt Ltd (Bengaluru, India) with a turnover
of Rs. 80.51 million and has focussed on polymer and glass optics, optical
instruments, precision plastic moulds, moulded components and product
assemblies. It manufactures LED backlights optic lenses and plastics and is
equipped with a start of art injection moulding machines from Arbug-
Germany (Chakravarthy, 2011; Chakravarthy & Sen, 2013).
9) Abby Lighting &Switchgear Ltd (Mumbai, India) with a turnover of Rs.
79.74 million are manufacturers and suppliers of lighting systems to major
brand owners in the lighting industry. It has created its own brand named
Studio Abby. It has CNC (Computer numerical control) machines for
manufacturing its LED recess lighting, downlights, industrial and commercial
light products (Chakravarthy, 2011; Chakravarthy & Sen, 2013).
10) Reiz Electronics Pvt Ltd (New Delhi, India) with a turnover of Rs.
71.35 million has been designing and manufacturing in-house to deliver
high efficiency and reliability of its LED, mechanical, thermal, optical and
electrical components. It manufactures products for leading international
companies like IKEA and Osram. It has recently been approved for

53
supplying LED down lights to Bajaj Electricals Ltd (Chakravarthy, 2011;
Chakravarthy & Sen, 2013).
11) BinayOpto Electronics Pvt Ltd with a turnover of Rs. 61.3 million in
2009-10, has been a pioneer in LED illumination in India as well as the
world market for past three decades and has many patents to its credits.
Due to its indigenous manufacturing of filament lamps, qualifies it to develop
a solid state LED replacement (Chakravarthy, 2011; Chakravarthy & Sen,
2013).
12) REI Electronics Pvt Ltd with a turnover of Rs. 56 million in 2010-11 is
into electronic manufacturing services. It also manufactures energy saving
LED lighting products such as street lights, parking-lot-lights; industrial lights
office lights, billboard lights and garden lights and helps in conserving 75%
of the energy consumed using traditional lighting (Chakravarthy, 2011;
Chakravarthy & Sen, 2013).
Appendix-II
6) Sharp the Japanese electronics giant has been in the business of LED
technology for the past 40 years. It launched its first set of LED products for
the US market in 2010, which included seven types of LED lamps for
industrial and commercial use (Fehrenbacher, 2010). It has entered the
European LED lighting market with five product families and 46 lighting
products for retail outlets, show rooms, supermarkets and industrial
purposes with 5 year warranty and financing options. Its Yuji and Hayu are
cost effective LED lighting solutions that just use only one LED in a fixture to
save space but retain brightness of multiple emitters and displays colours at
CRI ˃ 80 which is excellent. They are designed to fit standard European 3-
phase track systems and is versatile to fit any lighting design, and select
different colour temperatures with dimmable options. Hayu offers all the
features of Yuji but its light design can also highlight different areas and
products within the retail space and create different moods (Helderman,
2013).

54
7) Bridgelux is a US based company in Livermore, California. They are
leaders in manufacturing and innovation of LED lighting and provide high
quality LED arrays and chips which are high powered, cost-effective, energy
efficient and environmentally friendly and distributes its products globally in
38 markets. Its latest invention is the Vero line a smart product, which has
displaced metal core printed circuit board with a plastic body and does away
with soldering without faulty joints. The LEDs can be tracked and managed
as they have a 2D barcode and serial number (Cangeloso, 2013, Farnell,
2014). They won the most innovative product of the year in 2010 by
introducing the Helieon LED light system with Molex. They are used in
industrial and commercial buildings which has a life span of more than 10
years and cost $20 per unit (Fehrenbacher, 2010). They invented the chip
on board architecture which was evolution in improving light quality and
colour control and at the same time reducing cost and time in marketing
wide range of lighting applications. They have partnered with Toshiba to
commercialise the GaN on Silicon based LED chips and devices. They are
also working to make their products cost effective to attract customers,
Their view is not just a lighting industry but a technology industry (Detwiler,
2014).
8) Toshiba likes its peer sharp is also one of leading Japanese electronics
giant. In 2010 they launched the E-Core LED product line with 85%
reduction in power compared to incandescent bulb (Fehrenbacher, 2010).
Its LED NEOACCENT series are designed for shop displays with lighting
that gives clarity and brilliance, thus evidences its aims as an innovator to
produce adaptable and easy to use solutions for retail occasions and
locations being cost effective and efficient lighting (Toshiba, 2014a). It has
further developed on its E-Core LED products by launching its E-Core
weatherproof-II, new energy efficient lighting solutions, thus overcoming the
challenges of rain, dust and wind, mostly used for industrial and street
lighting (Tsoshiba, 2014b). In a span of four years it has emerged as one of
the key players towards advancements in LED lighting by using its dual
expertise in electronics and lighting and a global player in LED lighting
market in Europe, through Toshiba Lighting Systems (Europe). It intends to

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