IIPM Ranked No. 1 B-School In Global Exposre - Zee...
Well the answer for this by some companies is a perfect ‘No’. As Sabiha Kidwai - General Manager Marketing, Panasonic confidently replies, “Our Strategy is crisp and clear that we will offer consumer best line up and best features through out the year. So, I don’t think there will be any change in the strategy. Only, we will have one more strategy which is penetration. So we will have more promotional offers for non metro consumers.” But a flip side of the coin is despite the majority of consumer durables chunk adopting the ‘No freebie’ route there are some fishes in the pond who still believe in the same old tradition of giving a MP3 player with a purchase of a refrigerator.
Chinese multinational Haier, for that matter, has rolled out mega festive promotional package named ‘Haier 6,000 guaranteed offer’ which guarantees every customer a minimum gift worth Rs.6,000 or more on every purchase. “Our positioning is to provide quality service and our aim will be to invest and build Haier as a reliable, high-tech brand with an efficient customer care service,” says R. T. Rajan, Director – Sales & Marketing, Haier Appliances India. Even Sony India, as part of their special festive season unveiled its ‘Bond with Sony’ global marketing plan as a prelude to the power-packed thriller Quantum of Solace. Not only this, the key promotional offer also includes Lucky Draw Coupons for all customers buying select Sony products. “Our double-digit growth is just a reflection of the changing trends, wherein people are slowly moving away from traditional to youthful contemporary gifting and more ready to pick up such items as gifts,” explains Cyril Mani, Head, Marketing Communication, Sony India. On the same lines, even the Indian home grown consumer majors like Videocon and Godrej are also promoting the discounts and freebies in a major way. “Overall our promotional campaign budget for this festive season is Rs.400 million and this includes freebies like dinner sets, cookware, discounts, et al,” avers Kamal Nandi, VP – Sales & Marketing, Godrej Appliances.
However, one cannot ignore the fact that despite recent price hikes made by companies to offset rising costs, consumer preference for high-end quality products is what that has driven growth in the industry and that too across all segments. In fact the major reason behind this growth is the competitive strategies adopted by durables major that revolve around strong brand differentiation and not freebies or discounts. Even analysts feel that the companies should not change their strategy for the rest of the festive season which includes Christmas and New Year. As Tushar Bhattacharya, industry analyst, FICCI explains, “Gifts and discounts are old stories now. Most of the consumers are second time buyers and are replacing the product therefore the demand is always there. At least 10-12% average growth is always there and this festive season too the average growth is about 16-17%.”
So companies who follow the old adage of discounts now certainly need to rethink their strategies to lure customers. It’s favourable factors like young and amenable population profile, increasing income levels, new homes, under penetration levels and growing modern retail that will now drive the growth engines of the industry. As Anil Rajpal, Vice President, Technopak Advisors says, “Indian consumer’s offers promising prospects for the industry. Even if the GDP growth slows down to say 6% -7% levels, the growth shall continue to be there.”
Neha Saraiya
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
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Well the answer for this by some companies is a perfect ‘No’. As Sabiha Kidwai - General Manager Marketing, Panasonic confidently replies, “Our Strategy is crisp and clear that we will offer consumer best line up and best features through out the year. So, I don’t think there will be any change in the strategy. Only, we will have one more strategy which is penetration. So we will have more promotional offers for non metro consumers.” But a flip side of the coin is despite the majority of consumer durables chunk adopting the ‘No freebie’ route there are some fishes in the pond who still believe in the same old tradition of giving a MP3 player with a purchase of a refrigerator.Chinese multinational Haier, for that matter, has rolled out mega festive promotional package named ‘Haier 6,000 guaranteed offer’ which guarantees every customer a minimum gift worth Rs.6,000 or more on every purchase. “Our positioning is to provide quality service and our aim will be to invest and build Haier as a reliable, high-tech brand with an efficient customer care service,” says R. T. Rajan, Director – Sales & Marketing, Haier Appliances India. Even Sony India, as part of their special festive season unveiled its ‘Bond with Sony’ global marketing plan as a prelude to the power-packed thriller Quantum of Solace. Not only this, the key promotional offer also includes Lucky Draw Coupons for all customers buying select Sony products. “Our double-digit growth is just a reflection of the changing trends, wherein people are slowly moving away from traditional to youthful contemporary gifting and more ready to pick up such items as gifts,” explains Cyril Mani, Head, Marketing Communication, Sony India. On the same lines, even the Indian home grown consumer majors like Videocon and Godrej are also promoting the discounts and freebies in a major way. “Overall our promotional campaign budget for this festive season is Rs.400 million and this includes freebies like dinner sets, cookware, discounts, et al,” avers Kamal Nandi, VP – Sales & Marketing, Godrej Appliances.
However, one cannot ignore the fact that despite recent price hikes made by companies to offset rising costs, consumer preference for high-end quality products is what that has driven growth in the industry and that too across all segments. In fact the major reason behind this growth is the competitive strategies adopted by durables major that revolve around strong brand differentiation and not freebies or discounts. Even analysts feel that the companies should not change their strategy for the rest of the festive season which includes Christmas and New Year. As Tushar Bhattacharya, industry analyst, FICCI explains, “Gifts and discounts are old stories now. Most of the consumers are second time buyers and are replacing the product therefore the demand is always there. At least 10-12% average growth is always there and this festive season too the average growth is about 16-17%.”
So companies who follow the old adage of discounts now certainly need to rethink their strategies to lure customers. It’s favourable factors like young and amenable population profile, increasing income levels, new homes, under penetration levels and growing modern retail that will now drive the growth engines of the industry. As Anil Rajpal, Vice President, Technopak Advisors says, “Indian consumer’s offers promising prospects for the industry. Even if the GDP growth slows down to say 6% -7% levels, the growth shall continue to be there.”
Neha Saraiya
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
