Financial Daily from THE HINDU group of publications
Tuesday, Sep 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 30, 2003 |
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Marketing
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Strategy Godrej Appliances ramps up overseas presence Rina Chandran
Mumbai , Sept. 29 GODREJ Appliances has launched its refrigerators in Sri Lanka, and is stepping up its presence in other neighbouring markets. It launched its direct-cool and frost-free refrigerators in Sri Lanka a couple of weeks ago, and has already sold out its first lot of 1,000 units, according to Mr Soumitra K. Ghatak, Executive Vice-President - Marketing, Sales & Services, Godrej Appliances Ltd. The company is preparing to ship out its next lot of 1,000 refrigerators to Sri Lanka, which will also be a market for Godrej washing machines. Godrej has tied up with Hayleys, a large Sri Lankan distributor, and around 200-300 local dealers have expressed an interest, he said. The products will also be sold through 18-20 exclusive Hayleys outlets. The market size for refrigerators is estimated at about 1 lakh units, and major players include LG and Whirlpool. "Godrej is a strong brand — we are known already by the Godrej Hair Dye — and the value proposition of fastest cooling and 5-side cooling has found ready acceptance among consumers," he said. The company is looking at gaining a 10-15 per cent share of the market in the next six months, he added. Encouraged by the response in the island country, the company is also training its sights on other markets such as Nepal — where it already has a limited presence — besides Bangladesh and the Philippines. "They are close to India so they are easy to manage, and the markets are similar in terms of consumer demographics and psychographics - even the competition is almost the same," Mr Ghatak said. "So the rules of banding are the same and the marketing mix is also practically the same." The company has earmarked Sri Lankan Rs 70 lakh toward its advertising budget. While there isn't a distinct festive season, the brand will receive a boost from Christmas sales, and will tap other local festivals for promos and special offers, he said.
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