Who is the latest entrant in the home entertainment segment in India? Well, its the famous Bose Corporation who, after 4 years of presence in Indian market, is reworking its gameplan to cater to a broader audience with lower price tags and build volumes. Recent product launches are one step in this direction.
Bose Corporation entered into India in 1998. Since it's entry, the prices of its products have been constantly revised downwards, while part of the reason can be attributed to drastic increase in offerings in the segment, and some part to the lowering of import duties. Ratish Pandey, General Manager, Bose Corporation India Pvt Ltd. explains one more reason, "The downward movement of prices also had to do with our aim of selling our products to a greater audience."
The company has been using the technique called 'permission marketing', as customers call on its toll free numbers given out in its advertisements. Starting in the month of May this year, it launched a nationwide campaign for its Wave Radio/CD player, priced at Rs. 32,900, aimed at the mass market. The media vehicles consisted of a mix of current affairs, business and film magazines including India Today, Business Today, Business World, and Filmfare. Apart from mainline dailies, the newspapers included Deccan Herald, Deccan Chronicle, The Hindu and Hindu Business Line. The response has been fair, claims the company. "We received 5% response on the toll free lines, for the wave radio CD advertisements," said the company spokesperson. The campaign was carried out till September.
Post September, it launched a retail focused advertising campaign in two cities Delhi and Mumbai, the company says it is getting a 7% response on the toll free lines. Taking estimates from the media analysts, about 30% of product enquiry calls from customers translate into sales, in such cases.
Its known that Bose Corporation India has been doing brisk business in both its institutional and retail segments, however it refused to divulge its sales figures. With retail segment constituting 50% of its total sales, it soon plans to become a mass marketer, "We aim to bring more product offerings with lower prices, where we can do volumes. We are aiming to be mass marketers," says Pandey.
In another product offering, Bose Corporation India, recently launched its 3 wires and 2 speakers home entertainment system. The system features a single power supply and transformer, with separate amplification for each speaker component. One unique feature, this system is providing is the Bose's proprietary signal processing technology combined with two new speaker arrays, which works with Digital 5.1 decoding. This gives the surround sound effect without rear or central channel speakers.
Bose Corporation India Pvt Ltd was founded in 1995, with initial focus on design and installation of professional sound systems in public places. In October 1998, the first store in the country opened in Connaught Place in New Delhi.