Marketing strategy of Micromax

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Marketing strategy of Micromax and the Brand Ambassador

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Marketing strategy of Micromax

  1. 1. NEW DELHI YMCA Institute for Media Studies and Information and Technology Title of Project- Marketing Strategies of Micromax Submitted in partial fulfillment of the requirement of PG Diploma In Advertising,Marketing & PR(Sat) (2013-2014) Name: Pujit Chanana Guide Name: BHISHAM TECKCHANDANI Roll No: 15 Signature:
  2. 2. CONTENTS Introduction Part Synopsis/Summary Acknowledgement Objective of Study Company Profile Overview of the industry Company Profile Change In Logo Innovation Recent Achievements Products Competitors Introduction to the Topic-Marketing Strategy Explanation of marketing Strategy Marketing Strategy By The Company Benefits of It Market Methodology Explanation of research Types of research -Primary - Secondary Graphical Representation Findings
  3. 3. Questionnaire/Annexure Bibliography
  4. 4. Acknowledgement I am deeply grateful to my project guide Mr. BHISHAM TECKCHANDANI who has helped me in completion of this project. He has been a constant guiding force source of illumination for me. It entirely goes to his credit that this project has attained its final shape. I would like to thank for his valuable advice and guidance. I am also thankful to all the respondents who spared their valuable time for filling up the questionnaire and helped me out with the project Pujit Chanana
  5. 5. Executive Summary Micromax has entered into handset market in 2008 and within 6 years it has become the second largest manufacture in India. In this period it has focused mainly on rural market and has become the leader in the same. Now they have started to expand to the international market. This plan incorporates innovative strategies that will utilize opportunities and address weakness as outlined in the situation analysis. Micromax is planning to launch an IPO of 2.15 crore shares to raise around Rs 2270 million.
  6. 6. Title of the Project:- Marketing Strategy OF Micromax Industries Objective & Scope Of Study: Every time business organization that comes into contact with customers, they develop a perception in the mind of the customers. Today every organization needs to know the perception in the mind of the customers, as the market is highly competitive. In order to gain the mind share of the customers along with the market share certain strategies are required. Especially in the mobile sector as there are many competitors, so to leave a positive impact on the customers, provide them best services to them. To gain the advantage over the competitors. Objective of The Project Overview of the Micromax Company Reputation of the company in market Consumer Perception towards the brand Competitors in the market Hypothesis: Marketing strategies help develop winning product and gain competitive advantage In Mobile sector Marketing Strategies play a very important role to gain the consumers and their confidence. Market Methodology 1. Primary Source 2. Secondary Source Primary Source It would be in the form of questionnaire survey which will reveal the consumer perception about the company and the products. Secondary Source It would be collected from Case Studies, Newspaper and Search Engines (Google,Yahoo).
  7. 7. Company Profile
  8. 8. Journey of a homegrown brand Micromax started as an IT software company in the year 2000 working on embedded platforms. By 2008, it entered mobile handset business and by 2010 became the largest Indian domestic mobile handsets company. This transformation was steered by four friends who divided responsibilities on functional lines, which haven’t changed since: Rajesh Agarwal, 47, Managing Director, Rahul Sharma, 37, Executive Director, Vikas Jain, 37, Business Director. Through its emphasis on adapting to the changing market dynamics, introducing feature-rich phones and smartphones that are innovative and unique, Micromax has today become a brand to reckon with. Today, Micromax has presence across India and global presence in Bangladesh, Nepal, Sri-Lanka. Corporate Profile Micromax Mobiles is one of the leading mobile companies in the World today. According to Strategy Analytics’ Global Handset vendor market share report, it is the 12th largest mobile brand in the World with a global market share of 1% and close to 8% market share in India. With in-depth understanding of rapidly changing consumer preferences coupled with the use of advanced technologies, Micromax has been able to differentiate itself from the competitors through innovation and design. It took some 6 years for this new company Indian company to enter the domestic Smartphone market and win this area with its great-selling devices. The company, Micromax has been occupying the second position in the top Smartphone sellers in India since last year and is all set to make a rocking start into the next year, 2014. In less than a decade of existence in the Indian markets this company was able to take the battle on with the tech biggies. Samsung, Nokia, Apple and others with tons of experience and loads of smart gadgets have been for a run for their market share. These companies also introduced buyback schemes on their premium and budget products this year. But due to its cheaper products Micromax had no worries as far as its products were concerned.
  9. 9. The brand took on the leaders in the category with specific products that addressed different customer needs. The company has focused their efforts towards creating life-enhancing mobile phone solutions and wireless technologies that cater to the increasingly evolving needs of mobile users in India. Micromax aims to be a billion dollar company with a significant double digit market share by 2015.
  10. 10. Change in Company Logo Micromax unveiled its new punch logo. The new logo was selected from list of logos submitted by the participants in creative hunt to revamp logo contest, in association with Talent house India. The new logo was revealed at the Micromax Asia Cup 2012, during the India vs. Pakistan match on Sunday, March 18, 2012. The contest targeted the design community across the virtual world and students from over 150 colleges and design schools. The contest ran for a span of 2 months registered over 2500 entries by more than 1500 participants from across the globe. Out of the entries received, Eric Atkins of USA was announced as the winner of the contest. The winner of the online contest was rewarded with a MacBook Pro and recognition on the Company’s website. The entire Micromax branding was revamped Old Logo New Logo
  11. 11. The Core Team Rajesh Agarwal(Co-Founder & Managing Director) Rajesh Agarwal, Co Founder, Micromax Informatics is a key force behind one of the largest mobile brand in India in terms of volumes. With an enriching experience of 22 years, Rajesh has orchestrated strategic accomplishments that, together with ground-up development, allowed Micromax to assemble a portfolio amongst the top-tier handset manufacturers that serve consumers across the Globe. Inspired by Warren Buffett, Rajesh an electrical engineer encompasses from him the rich virtues of will strength, determination and risk-taking ability and applies them across all diversification and growth to emerge as a victor. An ardent outdoor sports lover, Rajesh shows keen interest in volley ball, cricket and table tennis. He is fond of travelling to new places and exploring different cultures. In his leisure he reads about successful leaders and draws inspiration through their ideologies.
  12. 12. Rahul Sharma(Co-Founder & Executive Director) Mr. Rahul Sharma, Co Founder, Micromax Informatics Limited, is the driving force behind Micromax’s commendable position in the Indian mobile handset market. Leading the Product and Sales strategies in Micromax, Rahul encompasses an enriching work experience of 13 years. The phenomenal growth of Micromax can be attributed to the dynamic leadership of Mr. Sharma. An unparalleled increase in revenue inflow further substantiates the Midas touch that Rahul has brought to the company and an equally impressive growth of the company highlights the consistency of his leadership For the successful person he is today, Rahul considers his father to be his true inspiration in life, his real hero. It was his father who instilled in Rahul a strong work ethic, honesty, sincerity and humility. Besides being an entrepreneur, Rahul is a sports enthusiast with a passion for fast cars and Formula 1 racing.
  13. 13. Vikas Jain (Co-Founder & Business Director) Vikas Jain is the Co-Founder Micromax Informatics Limited. With over 14 years of experience in international business & planning and the information technology sector, Vikas has played a crucial role in garnering and accelerating the business dynamics of Micromax. With his unique set of expertise in the 3G business dynamics, coupled with a great sense of innovative world successfully contributed in taking the company to newer markets and helping in global expansion. Vikas upholds diligence and perceptiveness in all his endeavors and understands the fact that Micromax being a homegrown market has an edge over the rest when it comes to its international counterparts in terms of the understanding of the Indian consumer. Prior to his entrepreneurial journey, Vikas was associated with renowned companies like TELCO, GE and Daewoo. An aggressive winning trait coupled with undying efforts of a like assumes to be the thrust behind Micromax’s step to a successful pedestal.
  14. 14. Brand Ambassadors (Hugh Jackman) Hollywood superstar Hugh Jackman has been chosen over a Bollywood star as the brand ambassador of Indian mobile handset brand Micromax. He says he is a "huge lover" of India. Jackman is known for films like "Les Miserable’s", "The Wolverine" and "Prisoners". His association with Micromax will start with its new Smartphone Canvas Turbo, which will be launched in India soon. (Akshay Kumar) Interestingly, while the Hugh Jackman is being signed, we’re seeing parallel ads by Akshay Kumar promoting the recently launched Bolt A67 and Bolt. These ads are running in conjunction with his movie Boss, so that these devices are rightly targeted at that kind of audience. But, this is not the first time,Micromax has roped Akshay Kumar for its ads. Back in 2010, Micromax launched a campaign with Akshay Kumar to showcase not just its products, but its mantra of ‘Nothing like Anything’. The setting of the ad showed how various Devices from the company can be helpful in any kind of situation.
  15. 15. (Kalki Koechlin) The new TVC of Micromax Mobiles’ M2 music handset featuring Koechlin shows her using her phone to get together with her boyfriend in a movie theatre. The ad’s catch line is "Micromax M2: looks like a music player, works like a phone." Prior to this, Koechlin has also featured in the Coke ad with Imran Khan. Mircromax Mobiles already has Akshay Kumar and Twinkle Khanna as its brand ambassadors (Twinkle Khanna) Twinkle Khanna, who had taken a sabbatical from the tinsel town, was back. This time round, she was seen in a commercial for Micromax Bling Mobile. It is the same brand of cell phones endorsed by Twinkle's hubby dearest Akshay Kumar.
  16. 16. Innovations – First Long Battery Life Phone with 30 days battery backup o X1i Marathon Battery phone with 30 days standby time & 17 days Talk time – First Dual SIM Dual mode active Phone (GSM+CDMA) o Micromax GC700 is the first GSM + CDMA Mobile phone
  17. 17. – First Gaming Device o G4 Gamolution phone with motion sensor gaming like Wi-fi – First Women’s Line of Devices o Q55 Bling phone- First women’s phone – First Universal Remote Control Phone o X235 With Universal Remote Control for TV, DVD, AC in your phone
  18. 18. – First phone with built-in blue tooth o Micromax X450 Van Gogh – A stylish phone that integrates a detachable Bluetooth headset in its sleek design – First Superphone with Gesture Control o Created a new category called ‘Superfone’ with Gesture Control, powered with 1GHz dual core NVIDIA Tegra 2 Processor
  19. 19. Recent Achievements The success of any Smartphone maker is a direct proportional to the number of brands it has created for its products. Micromax is planning to launch an IPO of 2.15 crore shares to raise around Rs 2270 million. Micromax, according to IDC, has a 4.1 percent market share in India and is now valued at over $1 billion. M Financial, Citigroup, Edelweiss and Nomura are the book running lead managers to the issue. For the year ended March 2013, Micromax had sales of 2,400 crore on selling over 85 lakh handsets, with a net profit of 200 crore, as against revenue and profit of 350 crore and 35 crore respectively for the previous year.
  20. 20. Products Mobile Data Cards Tablet LED TV
  21. 21. Competitors Micromax mobile manufacturer is putting up some tough competition for big brands like Samsung, Nokia and Sony as the latest numbers from the International Data Corporation (IDC) show. The Q2 numbers for 2013 are out and what is noticeable is that Samsung, which in Q1 of 2013 had a market share of 32 percent, is facing some serious competition from home grown vendors such as Micromax. Samsung is still number one in the Indian smartphone market but its share has fallen to 26 percent. Samsung is the biggest challenger to Micromax with nearly 22 percent market share. (the company had 19 percent market share in Q1) Micromax also shipped 2 million devices this quarter and its Canvas range has done well to boost the company’s volume share.
  22. 22. Samsung Samsung was formed in 1938 by Lee Byung-chull as a trading company based in Su-dong. The small company started as a grocery, trading goods produced in and around the city as well as its own noodles. The company grew and soon expanded to Seoul in 1947 but left once the Korean War broke out. After the war, Lee expanded in to textiles and built the largest woolen mill in Korea. The successful diversification became a growth strategy for Samsung, which rapidly expanded in to the insurance, securities, and retail business LAVA LAVA International Ltd is one of the fastest growing mobile handset companies in India. Established in 2009, Lava has emerged as a dominant player in the market; having consolidated its position amongst the top 3 Indian brands in slightly more than 3 years of its market presence. With "Create Possibilities" as its guiding principle, LAVA has embarked on an ambitious journey of empowering every human with quality innovative products. LAVA has a wide product portfolio that encompasses tablets, feature phones and smart phones having various models in bar and touch form factor at multiple price points to suit all categories of consumers. LAVA's basket of brands includes ETAB series of tablets, IRIS series of Android based smartphones, Discover series of Internet experience touch phones, Spark series of premium bar phones and ARC & KKT series of feature rich budget phones.
  23. 23. Nokia A wired and wireless telecommunications company, Nokia India is a pioneer of cellular network in the country. It manufactures a wide range of mobile devices and provides people with experiences in music, navigation, video, television, imaging, games and business mobility through these devices. It handles research and development, network infrastructure businesses and company handsets. Nokia has its manufacturing unit in Chennai. Nokia Chennai is one of Nokia’s biggest facilities, it’s also big on sustainability. In 2010 it received the Golden Peacock Award for its high standards of environment management. And it’s highly active in the community with projects ranging from a local library programmer to village regeneration projects.
  24. 24. Introduction to the Topic Marketing Strategy of Micromax
  25. 25. What is Marketing? The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The 4 'Ps' of marketing are product, place, price and promotion. What is Marketing Strategy? There are many marketing strategies. The great thing about this is that there is no one way to achieve success. An organization's strategy that combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the right product mix in order to achieve the maximum profit potential and sustain the business. A strategy is a long-term plan to achieve certain objectives. A marketing strategy is therefore a marketing plan designed to achieve marketing objectives. For example, marketing objective may relate to becoming the market leader by delighting customers. The strategic plan therefore is the detailed planning involving marketing research, and then developing a marketing mix to delight customers. Every organization needs to have clear marketing objectives, and the major route to achieving organizational goals will depend on strategy. It is important, therefore, to be clear about the difference between strategy and tactics. These terms originate from military use (military strategy before and during a military campaign is the general policy overview of how to defeat the enemy). Developing a strategy involves establishing clear aims and objectives around which the framework for a policy is created. Having established its strate gy, an organization can then work out its day-to-day tools and tactics to meet the objectives. Marketing can thus be seen as the process of developing and implementing a strategy to plan and coordinate ways of identifying, anticipating and satisfying consumer demands, in such a way as to make profits. It is this strategic planning process that lies at the heart of marketing.
  26. 26. A formal approach to this customer-focused marketing is known as SIVA] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus. The SIVA Model provides a demand/customer-centric alternative to the well-known 4Ps supply side model (product, price, placement, promotion) of marketing management. Marketing Mix The Marketing mix is a set of four decisions which need to be taken before launching any new product. These variables are also known as the 4 P’s of marketing. These four variables help the firm in making strategic decisions necessary for the smooth running of any product/organization. 4P’s of Marketing Product → Solution Promotion → Information Price → Value Place (Distribution) → Access
  27. 27. 1. Product The first thing you need, if you want to start a business, is a product. Therefore Product is also the first variable in the marketing mix. Product decisions are the first decisions you need to take before making any marketing plan. A product can be divided into three parts. The core product, the augmented product and the tertiary product. A product can be either a tangible good or an intangible service that fulfills a need or want of consumers. Whether you sell custom pallets and wood products or provide luxury accommodations, it’s imperative that you have a clear grasp of exactly what your product is and what makes it unique before you can successfully market it. 2. Price Pricing of a product depends on a lot of different variables and hence it is constantly updated. Major consideration in pricing is the costing of the product, the advertising and marketing expenses, any price fluctuations in the market, distribution costs etc. Many of these factors can change separately. Thus the pricing has to be such that it can bear the brunt of changes for a certain period of time. However, if all these variables change, then the pricing of a product has to be increased and decreased accordingly. Along with the above factors, there are also other things which have to be taken in consideration when deciding on a pricing strategy. Competition can be the best example. Similarly, pricing also affects the targeting and positioning of a product. Pricing is used for sales promotions in the form of trade discounts. Thus based on these factors there are several pricing strategies, one of which is implemented for the marketing mix.
  28. 28. 3. Place Place refers to the distribution channel of a product. If a product is a consumer product, it needs to be available as far and wide as possible. On the other hand, if the product is a Premium consumer product, it will be available only in select stores. Similarly, if the product is a business product, you need a team who interacts with businesses and makes the product available to them. Thus the place where the product is distributed depends on the product and pricing decisions, as well as any STP decisions taken by a firm. Distribution has a huge affect on the profitability of a product. Consider a FMCG company which has national distribution for its product. An increase in petrol rates by 10 Rs will in fact bring about drastic changes in the profitability of the company. Thus supply chain and logistics decisions are considered as very important costing decisions of the firm. The firm needs to have a full proof logistics and supply chain plan for its distribution. 4. Promotion Promotions decides the segmentation targeting and positioning of the product. The right kind of promotions affects all the other three variables – The product, price and place. If the promotions are effective, you might have to increase distribution points, you might get to increase the price because of the rising brand equity of the product, and the profitability might support you in launching even more products. However, the budget required for extensive promotions is also high. Promotions are considered as marketing expenses and the same needs to be taken in consideration while deciding the costing of the product. Promotion looks at the many ways marketing agencies disseminate relevant product information to consumers and differentiate a particular product or service. Promotion includes elements like: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well positioned brand to truly maximize return on investment.
  29. 29. Strategic Discipline Marketing is now accepted as a strategic discipline or general management function and in this respect must care for the health of a business in the future - especially against competitive influences. This is because it is increasingly realized that although making a profit is important, an organization should also develop its market share and search for brand leadership as well. So the marketer must monitor the profitability of the business and attempt to anticipate the likely trends. Successful marketers must therefore be concerned with every aspect of their business, including future project and other areas of their industry. Successful companies plan five or ten years and more in advance and often know as much about their competition as they know about themselves. Marketing is not just a series of business-related functions, but more wide-reaching than this. It is a business philosophy designed to develop an attitude of mind which should be shared by everyone in an organization and is often enhanced by both frequent and open communication. Developing such an attitude of mind reduces the likelihood of crisis and contributes to the development of the overall future of an enterprise at both strategic and tactical levels. At the heart of marketing lies the degree to which an organization becomes marketing-orientated. The more committed a company is to its marketing activities, the more able it will be to pursue its corporate objectives and develop and retain customers. Every business in existence relies upon its customers for survival, and those who best meet customer needs will always survive a period of change. The marketing function is therefore an essential ingredient of corporate strategy, and this marketing focus should be communicated through marketing planning into all aspects of business activity.
  30. 30. Principles of Marketing Strategy 1. Clarify Business Objectives 2. Use Innovation Teams to Identify 3. Decouple Strategy and Innovation 4. Build Open Assets in the Marketplace
  31. 31. 1. Clarify Business Objectives There’s so much going on in the marketing arena today, everybody is struggling to keep up. At the same time, every marketing professional feels pressure to be “progressive” and actively integrate emerging media into their marketing program. However, the mark of a good marketing strategy is not how many gadgets and neologisms are crammed into it, but how effectively it achieves worthy goals. Therefore, how you define your intent will have a profound impact on whether you succeed or fail. Unfortunately, there is a tendency for marketers to try to create a “one size fits all” approach for a portfolio of brands or, alternatively, to want to create complicated models to formulate marketing objectives Some brands are not widely known, others are have trouble converting awareness to sales and still others need to encourage consumer advocacy.
  32. 32. 2. Use Innovation Teams to Identify Emerging Opportunities Marketing executives are busy people. They need to actively monitor the marketplace, identify business opportunities, collaborate with product people and run promotional campaigns. It is unreasonable to expect them to keep up with the vast array of emerging technology and tactics, especially since most of it won’t pan out anyway. Therefore, it is essential to have a team dedicated to identifying emerging opportunities, meeting with start-ups and running test-and- learn programs to evaluate their true potential. Of course, most of these will fail, but the few winners will more than make up for the losers. Once an emerging opportunity has performed successfully in a pilot program, it can then be scaled up and become integrated into the normal strategic process as a viable tactic to achieve an awareness, sales or advocacy objective.
  33. 33. 3. Decouple Strategy and Innovation Unfortunately, in many organizations, strategy and innovation are often grouped together because they are both perceived as things that “smart people” do. Consequently, when firms approach innovation, they tend to put their best people on it, those who have shown a knack for getting results. That’s why, all too often, innovation teams are populated by senior executives. Because innovation is considered crucial to the future of the enterprise (and also due to the institutional clout of the senior executives) they also tend to have ample resources at their disposal. They are set up to succeed. Failure, all too often, isn’t an option. However, strategy is fundamentally different from innovation. As noted above, a good strategy is one that achieves specific objectives. The truth is that innovation is a messy business. So failure must be an option, which is why technologically focused venture capital firms expect the vast majority of their investments to fail
  34. 34. 4. Build Open Assets in the Marketplace The primary focus of marketing promotion used to be to create compelling advertising campaigns that would get the consumer’s attention and drive awareness. Once potential customers were aware of the product, direct sales and retail promotions could then close the deal. Today, effective promotional campaigns are less likely to lead to a sale and more likely to result in an Internet search, where consumers’ behavior can be tracked and then retargeted by competitors. Simply building awareness and walking away is more likely to enrich your competition than yourself.
  35. 35. Marketing Strategies By Micromax 1. Newer, cheaper and better products The Company’s first bet was on feature loaded feature phones. The aim was Nokia phones that were the best selling phones in India during 2008-2011.This was the time when Samsung was introducing Smartphone’s that were priced at premium price points. One of the earliest phones Micromax introduced was X1i that promised 30 days battery backup. After this it introduced the first dual- sim dual-standby phone, the X600 Gravity. Then there was a phone for gamers, a phone with built-in Bluetooth and the journey took to new heights by the year 2012. Within years the company became the largest Indian domestic mobile handsets company. On March 31, 2010, the company registered a market share of 6.24 per cent for the quarter, this was 0.59 per cent in September 2008. This was 19.7 percent (smartphones) in 2013 2. Leave no segment In a market where there were almost no gadgets aimed at ladies, the company took the courage to introduce a phone aimed at ladies only. The company launched Q55 and A55 in its Bling series specially for women, without the fear of being branded as sexiest. In which Twinkle Khanna appeared. These two Smartphone’s were studded with Swarovski crystals and enjoyed very good response in the market
  36. 36. 3. Competitive The company knew very well that it will be difficult for it to make a mark in the urban market. It aimed at the rural and semi-urban areas. “Our approach was to first attack the rural markets, and then come to the towns” said Rahul Sharma in an interview to Business Standard. The strategy was a success. When Samsung was releasing products at Rs. 10000, Micromax was ready with a Rs.2000/ Rs. 3000 product. After Nokia silently made way out of the Smartphone battle Micromax geared with a focus on the urban markets. 4. Brand building Brand building was one of the major tasks it had in hand. It went with Akshay Kumar, the popular ‘khiladi’ of the Bollywood who has a huge fan following in the rural and sub-urban areas. It promoted its image as an innovator and pioneer in bringing amazing ‘nothing-like--anything’ phones to Indian market. In 2012 it went for an International look. It started with TVCs that featured out-of-India landscapes and users. By the end of the year it signed Hugh Jackman as its brand Ambassador for Canvas phones. The first phone launched with the Wolverine star was the Canvas Turbo. 5. Low-cost premium products It was selling feature phones and was a known brand in Smartphone segment also. It was time for the company to take its bigger challenge. In year 2011 it shook up its Chinese partners for better phones that it can call its flagships. It named them Canvas, and introduces more than a dozen of new entries into the year throughout 2013.
  37. 37. 6. Grabbing the Market The Company needed to find a suitable peg to shake the Indian urban market while also gaining on sales figures. With Samsung as the only company selling 5-inch Galaxy S3 (4.8-inch) and a bigger Note (5.3-inch) in India at premium prices, Micromax zeroed-in on the 5-inch segment. The target it laid for itself was making a 5-inch device affordable to everyone who wants one. After the success of Canvas A110 in 2012, in January 2013 it launched Canvas HD, followed by a series of Canvas phones in the price range of Rs. 6500 to Rs. 20000. While Canvas HD got a 720 x 1280 pixels display resolution to the market, the Canvas Viva was an affordable 5- incher. 7. Product Transformation In mid of 2013 it progressed a bit with software. Its phone usually ran stock Android. But with the Canvas 4 A240, it not only went for a metal mid-body but also slight change in the software to bring premium features to the phone. No doubt it went premium in the Canvas range. With the Canvas Turbo it continued to cater to this premium segment. 8. Customization The Company have realized that in the next year there will be cheaper phones that will move from 4-core processors to 8-core powerhouses. It is the first domestic company that was rumored to launch an octa- core phone in the market next year.
  38. 38. 9. New products Nokia is back in smartphone market with low cost Lumia, attractive buyback schemes and Asha phones. It is the only phone in Indian market with the Windows OS (leaving Samsung Omnia performing good in sales) Microsoft and Nokia has already entered into a partnership and Nokia will go aggressive on 5-inch segment in 2014. Keeping this in view Micromax has already revealed that it will bring a Windows OS phone this year and a 4G capable phone in 2014 for the Indian market.
  39. 39. Benefits of Marketing Strategies Saves time and money Time and money are important primary factors of success in the business industry. As you will see below, a marketing strategy helps owners to define a brand so that they don’t spend loads of productivity time marketing a product to the wrong people. A marketing plan provides a blue print for business owners to follow with hopes to bring in more money than they put out. Provides a plan Marketing plan acts as a guide as the business progresses, so owners can see where their time and money is going. It provides a look into the future goals of the company, and gives step-by-step directions on how to achieve those goals. Defines the brand This is a very important element of the marketing plan because without it, a business wouldn’t last long. They would be exhausted. Defining a brand means knowing what you are selling, and to whom you’re selling it to. In other words, you must also define your audience. Without knowing who to market to, business owners can lose valuable time. Marketing strategies help with issues such as these, and plans out these things.
  40. 40. Market Methodology
  41. 41. Need For Study The basic idea of taking up this study is to analyze the market share of Micromax Products in New Delhi. At the same time, an attempt was made to understand the Brand image of micromax in New Delhi. Primary Objective The primary objective of the study is to analyze the market share and understand the Brand image of Micromax Mobile Secondary Objective To find out the market share To Know the brand image To find out which is the largest selling mobile Research Methodology The essential part of any report in research methodology. The field study was conducted to analyze the market share and understand the brand image of Micromax. Sample Size The sample size was 30 respondents taken Field Work & Data Collection In the data collected phase, I tried to cover maximum area and the consumer of Model Town & Pitampura(New Delhi) Collection of Data Data used in this report is mainly primary data, which are collected first hand by survey in the field. In some areas secondary data may also be taken into consideration.
  42. 42. Collection of Primary Data It would be in the form of questionnaire survey which will reveal the consumer perception about the company and the products. Collection of Secondary Data It would be collected from Case Studies, Newspaper and Search Engines (Google,Yahoo).
  43. 43. Data Interpretation & Analysis 1. Gender? Interpretation From the above table it can be observed that 60% males and 40% females have been taken in the survey 60% 40% Male Female
  44. 44. 2. Age? Interpretation From the above table it can be observed that the age respondent which is Less than 18(7%), 18-22(36%), 22-26(30%), 26-30(17%), More than 30(10%) 7% 36% 30% 17% 10% Less Than 18 18-22 22-26 26-30 More Than 30
  45. 45. 3.Occupation? Interpretation From the above table, it can be observed that the occupation of the respondent are college students (46%), Businessman (17%), Service (20%), others (17%) 46% 17% 20% 17% College Student Busines Man Service Others
  46. 46. 4.Do you have any of the following products manufactured by Micromax? Interpretation From the above table it can be observed that the respondents use Micromax-Mobile (57%), Tablet(33%), TV(3%), Data Card(7%) 57% 33% 3% 7% Mobile Tablet TV Data Card
  47. 47. 5.Which mobile phone you are using? Interpretation From the above table it can be observed that the respondents use Micromax mobile more than other consumer. Nokia(10%), Samsung(23%), Micromax(57%), iPhone(7%), Blackberry(3%). 10% 23% 57% 7% 3% Nokia Samsung Micromax iPhone Blackberry
  48. 48. 6. How long do you use your mobile phone? Interpretation From the above table it can be observed that the respondents are using mobile phone. Less than one year (70%), 1-2years (20%), 2- 4years (7%), above 4 years (3%) 70% 20% 7% 3% Less Than 1 Year 1-2 Year 2-4 Year Above 4 Year
  49. 49. 7. What is the image of Micromax in your mind? Interpretation From the table it can be observed that the respondent consider Micromax as a Economical (80%), Durable(7%), Safe Product(13%) 80% 7% 13% Economical Durable Safe Product
  50. 50. 8. Where do you often see Micromax advertisement? Interpretation From the above table, it can observed Micromax TV advertisements affects the respondents more. TV(60%), Newspaper(15%), Online(20%), Radio(5%) 60% 15% 20% 5% TV Newspaper Online Radio
  51. 51. 9. Do you think Micromax can be market leader? Interpretation From the above table it can be observed that 87% respondent believe that Micromax can be a market leader but 13 % think it cannot be a market leader. 87% 13% Yes No
  52. 52. 10. Are you satisfied with Micromax? Interpretation From the above table it cTan be observed that the respondent are satisfied with the Micromax products. 77% are satisfied and 23 % are not satisfied. 77% 23% Yes No
  53. 53. SWOT ANALYSIS OF MICROMAX Strengths Micromax is No.1 in terms of market share in terms of mobiles, it captured Samsung market share by superior innovation in Smart Phones’ Micromax is financially strong and stable company. The production process and process of inventory management are consistent with industrial standards. The brand value increased by 80% in last three years The Company enjoys wide range of product portfolio which includes Mobiles, Tablets, Television, Data Card and other accessories. Micromax holds significant market share in most of the product categories. Micromax is best in terms of technology. It was first to introduce dual- sim mobile phone, first motion sensor phone, first universal remote phone. Micromax took advantage of growing economy of Asian market by setting up manufacturing plant in India there by reducing logistics and supply chain
  54. 54. Weakness Micromax needs improvement in defining the vision, mission and strategic corporate objective.Marketing management needs improvement in all the facts of marketing HRM also needs improvement in all the facts of human resource management Chinese products focus on economies of scale and dump into Indian market for lesser cost Online stores which sell a wide range of products are giving better deals as they don’t incur cost in distribution channel. Opportunity Micromax is reasonable equipped to take care of technological changes Micromax is maintaining good international relationship with countries and local Micromax has future plans for customized phones in the Indian market. The population is growing so as the demand for mobile phone demand is also growing. The financial position is strong and there is a scope of entering into unrelated diversification
  55. 55. Threats Regulatory issues and safeguarding of property rights was main threats in legislation The competitor like Nokia are focused only in one segment Threats from Chinese Products Retail chain like Bigbazar sell consumer electronics in low cost strategy which is procured in bulks from foreign market.
  56. 56. QUSENTIONNAIRE Study of mobile market for Micromax Informatics with special reference to New Delhi. NAME: ______________________ 1. Gender Male Female 2. Your Age Less than 18 18-22 22-26 26-30 More than 30 3. Occupation College Business Service Others
  57. 57. 4. Do you have any of the following products manufactured by Micromax? Mobile Tablet Television Data Card 5. Which mobile phone you are using? Nokia Samsung Micromax iPhone Blackberry 6. How long do you use your mobile phone? Less than 1 year 1-2 Year 2-4 Year More than 4 Year
  58. 58. 7. What is the image of Micromax in your mind? Economical Safe Product Durable 8. Where do you often see Micromax advertisement? TV Newspaper Online Radio 9. Do you think Micromax can be market leader? Yes NO 10. Are you satisfied with Micromax? Yes No
  59. 59. Bibliography 1. www.wikipedia.com 2. www.micromax.com 3. www.studymode.com 4. www.forbes.com 5. www.google.com 6. www.yahoo.com
  60. 60. Bibliography
  61. 61. Annexure

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