Features /history• Rs. 2000 crore company• Home appliances and consumer electronics• Range of products- AC’s,refrigerators, television• good technology, installed capacity, market savvy• Competency- short time from conceptualizing a product to actually bringing it to the market, professional marketing team• Robust distribution network
Indian consumers- today, yesterday and tomorrow• Less employment opportunities• Low per capita income• Save more• Signs of change in mid 80’s- tax rates to 50% from 97%• Then launch of maruti car-800, emergence of professional class, increase per capita income, household income, cable,Satellite,t.v. liberalisation follows,etc• Led to change in consumer behavior
BUT…..Some local and global features-• Family• Thrift n frugality• Indian flavor• Advertising• Shopping habits
Before and now….• Saving• Quality of life• Urbanization• Consumer rights• New century men and women• Modern Indian child, modern Indian teenager
Ques 1: Based on report and company’s corecompetence which new product seems tohave maximum promise, why?
Launch of product-2003• Our product- WASHING MACHINE• Findings from the report- QUALITATIVE• Consumer behavior-People want reliability, efficient product, good value, high performance, product that compliments their lifestyle.• Willing to pay premium for products managing their life• Changing scenario- nuclear family, working women, increasing income,QUANTITATIVE• Increase in consuming urban population ( from 80.8 mn in 1994-95 to 157.4 mn in 2001-02)• projected growth of consumer durables• Consumption patterns- washing powder( from 625 mn in 2001-02 to 675 mn in 2006-07 expected penetration level per 1000 households)• Increase in amount spent on loan interest rates• Expected increase in washing machines- to 3.4 mn in 2006-07 from 2 mn in 2000-01
Ques 2: What would be the plan to bring this productin terms of the 4 P’s. what should be thesegment ,target and positioning of theproduct?
Marketing Plan• Product- Washing Machine semi automatic and fully automatic in white, cream n grey color• Price- Rs.4500-10000 semi automatic Rs.13000-18000 fully automatic• Already have robust distributors with 20 years of experience• Promotion- through advertisement on TV• Segment to target- women in urban class age between 24-35 falling in income class of Rs.45000-215000 p.a. (consuming population)
What type of product could be launched by company in2013.discuss its marketing strategies .
Rotimagic . New Product in market • Time saving • Convenient • Healthy • Size of mini-micro wave
Problem catered and potential marketRoti Making is Potential market-• Tedious • Stable of 800 million• Time-consuming Indians• Skillful task • Approximately 2.5Other reasons are billion chappatis made• Busy schedules every day.• Working women population• Healthy food
Target marketMiddle class household• Currently India has 31.4 million middle class households (160 million individuals).According to National Council for Applied Economic Researchs (NCAER).• In next five years Indias middle class population to touch 267 million in 5 yrs
Promotion• IMC tools that we choose * TV ads during family and comedy serials• Online order from company website.• Product placement in shows like khana-khazana , Diya aur baati hum ,Taarak Mehta Ka Ooltah Chashmah ,Pavitra Rishta.(subliminal conditioning)• Print media – In top English and Hindi newspaper in form of advertorial.