Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Marketing
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Market Shares Whirlpool eyes 26% of refrigerator market Our Bureau
Chennai , April 24 Whirlpool India will be targeting a 26 per cent market share of the Rs 3,400-crore refrigerator market this year, according to Mr Arvind Uppal, Managing Director, Whirlpool India. Launching the company's new products in three categories, the Delight and Fusion refrigerators, the JetChef microwave oven and the Whitemagic Splash washing machine, he told the press that in 2005, the company had a market share of 23.5 per cent in the refrigerator segment. It also targets a 10 per cent market share in the Rs 50-60 crore microwave oven category and a 16 per cent share in the Rs 1,300-crore washing machine category.
Marketing campaign
An investment of Rs 45 crore will go this year into the marketing campaign to promote the newly launched products, which includes an advertisement involving brand ambassadors Kajol and Ajay Devgan. Mr Uppal said the company witnessed a growth of 25.2 per cent in the nine-month period April to December 2005 over the same period in 2004. The net sales in the nine-month period stood at Rs 969.3 crore with an operating profit of Rs 1.52 crore. Of this, 60 per cent was in the refrigerator segment, 27 per cent in the washing machine segment, 30 per cent in other categories such as microwave ovens and air conditioners, and 10 per cent accounted for by exports. The Delight frost-free refrigerator models are priced between Rs 12,675 and Rs 19,050, while the Fusion models are priced between Rs 11,200 and Rs 16,900. The JetChef microwave oven is priced between Rs 17,990 and Rs 19,990 and the Whitemagic Splash washing machine is priced at Rs 10,490.
More Stories on : Market Shares | Air-conditioners & Refrigerators
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