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Abc corporation
ABC Corporation plans to launch 1-tonne and 1.5-tonne air conditioners. Their market research found that wives and children initiate 77% of AC purchases and atmospheric conditions and financial status influence 76% of buyers. The document recommends targeting women, children, upper and middle class families. It also suggests using local media, promoting durability, quality, reliability and after-sales service, and utilizing their refrigerator distribution channels. Segmenting customers based on sociodemographic and psychographic factors like income, occupation, education, climate and area is also proposed.
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Abc corporation
- 1. SUBMITTED BY : 15BM600ABHISHEK BARUI 15BM60067 SONAL 15BM60073 APARJEET KAUSHAL 15BM60077 RAJ RANJAN 15BM60080 PRAJVAL AMIN 15BM60081 ADITYA SONI ABC Corporation
- 2. • Market leadersas refrigerator manufacturers for over two decades • Believes in providing best possible service to its customers • Mission – To provide our customers with the highest sevice quality • Customer dedication has paid them well in terms of profitablity, resulting in building up hugh cash reserves, that can be used for expansion. • Success attributed to wide its long standing position and wide distribution channel. Introduction
- 3. • Planning tolaunch Air Conditioners in two variants • 1 tonnes • 1.5 tonnes • Other competitors present are Voltas, Arco, Friz Air, Kelvinator. Friz Air being market leader. • Durability is the key deciding factor closely followed by pricing and reliability. • Can reap the benefit from promoting after sales service and guarantee. • Service depots in 12 of the largest city in India and service agents in another 80 town Current Market Scenario
- 4. Buying Behavior • Initiators •Ideas for new ac were put forward • 77% by wives and children • 44% by themselves • 36% by family members • Advertising required for spreading the details of the new product • Women and children are primary target • Easily accessible vehicle such as Newspapers, pamphlets should be used • Influencers • 76% considers atmospheric condition to be a deterrent along with financial condition • Climatic conditions and its effects should be kept in mind • Family with sound financial should be targeted(Upper class & Middle class)
- 5. • Use localmedia for advertisement to cover the majority of the local population • Strongly focus on distinguishing features like • Durability • Quality • Reliability • Leverage the sales and distribution channel set up by the refrigerators dealers. • Digital Media should be utilized to its full • Small stalls and separate shops should be set up Strategies to be followed
- 6. • Basis ofSegmentation • Characteristics of buyer’s behaviour used for segmenting: Section of society Work , profession type Nature of residence Volume of products bought by buyers from different groups Volume of products bought by buyers from different profession Time taken for purchase by different groups Environmental stimuli
- 7. • BASIC OFFERING: The most important attributes of an air-conditioner are • Durability • Service quality of product • Reliability and Capacity • EXPECTED OFFERING : PROMOTIONAL FACTORS • After-sales service • Guarantee period • Special Discount • AUGMENTED OFFERING (SUGGESTED): • Promotional offers • Warranty Extension • Club Membership for City Events (Social Reach) Product Differentiation Strategies
- 8. Social Status • UpperClass • Upper Middle Class Social Acceptance Value for Money Psychographic and Benefit Segmentations Income Level • <2000 • 2000-2500 • 2500-3000 • >3000 Occupation • Business • Executive • Others Education Demographic Brand Awareness Brand Selection • Voltas • Kelvinator • Friz Air • Arco • Others Product offerings • 1 Ton • 1.5 Ton Use-related Segmentation Climate Density of area Accessibility Geographic Segmentation
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