Financial Daily from THE HINDU group of publications
Wednesday, Oct 13, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 13, 2004 |
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Marketing
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Strategy Philips slashes prices for Diwali Our Bureau
Chennai , Oct. 12 PHILIPS India Ltd has slashed the prices on its range of consumer electronics for the Diwali season, and has earmarked Rs 20 crore to spend on advertising and promotional activities during this period. In certain categories, the company has reduced the price by almost 20 to 30 per cent. For instance, a 15-inch television costs Rs 7,990 now as against the earlier Rs 9,990. These prices will continue after Diwali also, said Mr Suresh Sukumaran, Senior General Manager (Consumer Electronics). The company has tied up with a number of finance companies to offer customers the facility of consumer finance. It also offers a four-year of warranty on the products. The penetration of colour televisions (CTV) in the country has been just 20 per cent of the households and the growth potential in this segment is high, Mr Sukumaran said. The highest penetration of CTVs is in Delhi and Mumbai, followed by Kerala and Punjab. In Tamil Nadu, the penetration is about 26 per cent, he said. Mr Sukumaran said the size of the CTV market in 2004 is about 75 lakh units (consumer offtake) and is growing at a rate of 8 per cent. Recently, the growth in the CTV segment has come from real flat and large screens, he said.
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