Competition in Consumer Durables market hots up this festive season

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The competition in consumer durable market is all set to hot up during this festive season. None of the companies’ steps back during this season and they aggressively plan for this time. All their efforts are to attract more and more customers and to achieve good sales.

Companies are trying to leverage this season by adopting various methods like ‘Little inspiration, Smarter Lives’ the new communication campaign by Kelvinator with inspiring tagline has been brought out to retain its customers. Arun Pal, Chief Marketing Officer (CMO), Sansui and Kelvinator have already given an announcement, stating, “Like last year, this year too we are offering free gifts along with product purchase. This fall, we also introduced innovative television models to cater to all market segments. This will be our marketing strategy this year.”

Showcasing the portfolio of products is the new marketing strategy that Kelvinator has come up with.

Like Kelvinator, the other firms have also made major announcements to cash in on the festive mood. The consumer durables market is valued at Rs. 350 billion and every firm is trying to get a pie of that. Videocon is busy making innovative sale campaigns in order to attract the customers and they are targeting sales of Rs.2000 crore. This was the information given out by the Director of Videocon Industries, Anirudh Dhoot. The communication, media mix, advertisement spending, etc are the most important considerations in a competitive market. And these are some basic tools to pull in customers.

Communication

Communication is the most essential element indeed. Each companies communication hallmarks differ from that of the other. Pal says, “Our communication hallmark is to provide consumers with a product range where we offer best quality at the best rate, which will again be our ‘go-to’ communication strategy for the current fiscal.”

In the similar line, Kelvinator is playing with a new brand image of ‘The Coolest One’. An integrated marketing communication plan is what  Kelvinator is hoping at.

Media Mix

Just as the marketing mix adoption, media mix is crucial. Kelvinator and Videocon adopt the 360 degree campaign. For Kelvinator, it is to provide value-added marketing collaterals. And for Videocon, it includes the value-driven mechanisms of television commercials, retail presence and so on.

Advertisement Spending

Advertisements are always made tartgeting the human heart, mind and thoughts. And this festive season is no such exception. According to Pal, “At Kelvinator, we aim to achieve over 35-40 per cent CAGR (Compound Annual Growth Rate) over the last year. Dhoot of Videocon has said that, “We seek to increase our foothold above last year’s and this year, we seek a 20 per cent growth over the same period last year.” They have marked up their budget to Rs 100 crore for this year festive season.

New launches

Companies are making it a point that new innovative products are launched in the market soon, which would lead to tight competition. Videocon is planning for a new range of Flat Panel Display televisions and Sansui with new LED series, naming it as Brush Metal LED with 3D Technology.

Let’s hope this festive season gets rocked with new products and new marketing themes in market!!

 

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