As part of its growth and development strategy, home appliances company Electrolux Kelvinator Ltd plans to open exclusive retail outlets which will also act as experience centres, as well as introduce and nurture new product categories in the Indian market.
By the end of 2005, the company hopes to have put in place 50 exclusive stores, christened Electrolux Homes, through franchisees.
These outlets will display the complete product portfolio of the company, said its Vice-President (Sales & Marketing) Mr Ajay Kapila.
He said the company, with accumulated losses of over Rs 500 crore, is looking at newer product categories for growth. Expanding its product portfolio is key to the realisation of its full potential in the country, he added.
While Electrolux has launched its brand of air-conditioners and microwave ovens, it's also planning to introduce kitchen appliances like hobs, hoods and electric chimneys and vacuum cleaners.
In the air-conditioner and microwave markets, Electrolux hopes to attain a 10 per cent market share in the second year itself.
Mr Kapila said the company hopes to find a niche for itself in the crowded air-conditioner market by providing split-ACs cheaper.
Electrolux is offering its 0.75 tonne Oxigen split-AC at an exchange price of Rs 12,990 and is also coming out with a 1 tonne version, which will be priced at Rs 16,990.
Among its innovations in the refrigerator category is `Bijlee,' which offers a 12-hour power backup through a built-in battery. "The product is unique; the concept will have to be sold to the customer," he said. The company has identified five critical markets where the power situation is precarious, and will target them with Bijlee. Some of such markets will be in Rajasthan and Uttar Pradesh, he said.
Electrolux is also promoting its `Tamanna' refrigerators, which come with in-built FM radios and message recorders, among home-makers.
The company is now looking for significant business growth through its new product offerings as well as through its distribution initiatives to reach new markets, said Mr Kapila.
Our typical marketing budget is usually 10 per cent of the topline spend
There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...
The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.
<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...
Under the watchful eye of Walt Disney, Bindass undergoes brand repackaging with a fresh new show ‘Dil Buffering’ simulcast across its linear and social media platforms on September 29 and will launch...
Apart from the mandate for the first project which is the Ashiana Town in Bhiwadi, Tomorrow and InterTwined will deliver brand solutions across film, print, radio, outdoor and activation besides provi...
Despite advertising picking up after a slow Q1, regional FM players still feel that the lingering effect of GST, RERA, demonetisation will still make its impact felt during the upcoming festive quarte...