Financial Daily from THE HINDU group of publications
Friday, Feb 15, 2002
Financial Daily from THE HINDU group of publications Friday, Feb 15, 2002 |
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Marketing
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Rural Marketing LG sees rural markets as thrust areas Our Bureau
CHENNAI, Feb. 14 LG Electronics India Ltd (LGEIL) sees semi-urban and rural markets as thrust areas in the coming year. The company will launch a series of 40 road shows in the four southern States targeting small towns, starting on February 14. The road shows will showcase the entire LG range of products and will cost Rs 3.5 lakh per town. These marketing initiatives will start from Madurai and Kannur simultaneously, and will span a period of 45 days. Mr K.R. Kim, Managing Director, LGEIL, said that the company has also identified South India as an area of growth. The company plans to push sales and increase customer interaction in the metros, semi-urban and rural areas with increased sales and distribution presence. The southern States have contributed 21 per cent to the company's annual turnover of Rs 2,216 crore in 2001, Mr Kim said. The company hopes the region's contribution will increase to Rs 650 crore by the end 2002. Consumer electronics continues to be the driver for growth and is projected to contribute Rs 310 crore while home appliances is projected to contribute Rs 330 crore in 2002. High-end products such as projection TV and LCD projectors are expected to contribute Rs 10 crore to the turnover, Mr Kim said. The company also plans to launch new products in the refrigerator and colour television categories as part of its marketing strategy this year. In the refrigerator segment, the company plans to launch 10 new models covering the entire range. The company recently launched six models of the new Dios (side by side) refrigerators targeted at the premium segment. These models are priced in the range of Rs 65,000 - Rs 1.8 lakh. Dios will be available in the 610 litres, 710 litres and 810 litres with two models in each capacity. In the colour television (CTV) segment the company sold 6.5 lakh units in 2001 and has plans to launch more new models across its product portfolio.
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