![]() Financial Daily from THE HINDU group of publications Thursday, Aug 19, 2004 |
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Catalyst
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Strategy Industry & Economy - Interiors & Homes Columns - Market King Astounding surroundings Jagdeep Kapoor
India wants to look good. Virtually every consumer in India wants to be well-groomed and wants to look good. Similarly, every home, office and institution. This is the age of good-looking homes and offices and good-looking men and women. In this scheme of things there is a critical and crucial role played by furniture. In fact, furniture marketing has reached high levels of performance and sophistication. No longer is furniture just a piece of wood or metal but a critical element helping to enhance the entire ambience of a home or office or institution. At home, there is a tremendous amount of aspiration to make sure that the furniture looks very good and reflects the lifestyle and the personality of the residents. The Indian furniture market is valued at approximately Rs 18,000 crore with almost 75 per cent of the market lying in the unorganised segment. There are thousands of unorganised players. The market is divided between metal, wood and plastic hard furniture and a host of soft furnishing options. Right from the selection of furniture to the design and choice of material, the customer is fully involved. Some consumers prefer some readymade furniture, others modular furniture and some others would like a carpenter or a contractor customise furniture for them and make it under their supervision. Architects and interior designers are there to provide expertise in lending style and elegance to consumers' homes. As for the various rooms within the home which require a special sensitive touch be it the living room, the kitchen, bathroom, bedroom or the children's room or the family room in each case the choice and the appropriate setting and placement of furniture makes a world of difference. Each consumer has his or her own taste in terms of design or colour or shape or size. This must be considered carefully before a marketer is able to brand and position his product. Similarly in offices and institutions like banks, corporate offices, showrooms, malls and other retail outlets, furniture marketing is gaining ground. It is not only a piece of chair, or a bed or a cabinet or a carpet or a wall painting but the reflection of the inner personality and desire of the consumer which is projected in the outer form of furniture. Whether it is a house or restaurant or a boardroom, each of these locations require furniture marketing. It is important that brand marketers understand that it is not only advertising or pricing which will drive sales but also the understanding and appreciation of consumer behaviour and their needs and desires, which could make furniture marketing succeed. Furniture marketing has come of age and can now move to a higher level if proper brand strategy and positioning is applied and the aspirations of the consumers are attended to and fulfilled. If you would like your furniture sales to go up, make sure that, apart from durability, you make the consumer look good. (The author is Managing Director of Samsika Marketing Consultancy.)
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