The Consumer Durable industry is huge! Think of a typical day when you wake up to make coffee that has been brewed by your-controlled coffee maker. You pop a couple of slices of bread into your electric toaster, grab some juice from the refrigerator, and throw a load of laundry into your washing machine. You dry your hair with your electric hair dryer; brush your teeth with your electric toothbrush and head of your job. At lunchtime, you prepare your lunch in the microwave oven and then leave early to head to homework in your yard with your lawnmower, leaf blower, and trimmer.
Dinnertime means you need to put that roast in your electric oven, open a can of vegetables with the electric can opener, and mix up a cake with your electric mixer. After the dishes have been put in the automatic dishwasher, it is time to relax with the TV and VCR, but only after you put the clothes into the dryer and iron the clothes you will need for tomorrow. Time to set that timer on the coffee maker again and prepare for a brand new morning! The number of household appliances grows every year, but there is one sector of the industry, the major appliance sector, that remains fairly constant. This is the sector that I have chosen to analyze.
Home Appliances industry is one of the most lucrative and fast-growing industries. The Indian economy witnessed a proliferation of global companies on the National Scene. Liberalization of the Indian economy coupled with the media explosion ushered in a new era of consumerism. Increased purchasing power and a fluid taste led to the creation of a budding Home Appliances market. The growth rates were as high as 22% in the white goods segment compared to a merely 2-3% growth in the European and American markets.
Home Appliances industry scenario in India is totally different from what it was one decade back. Consumer Industry Scenario in India is totally different from what it is in European Countries. Demand in developed countries is mainly constituted by replacement demand white goods market in India was dominated by indigenous industrial houses like Videocon, BPL, ONIDA, Kelvinator, and many others, but the entrance of multinationals into the Indian market because of the opening up of Indian economy gave these companies a big blow. MNCs that are gaining good market share are Samsung, LG, Electrolux.
Emergence Of the Consumer Durable Industry
Indian Home Appliances industry is growing at an overall rate of 12- 13 percent. If we consume each product market individually, the Colour Television market has shown a growth rate of 25%. The refrigerator market is growing at a rate of 8-10%. The reason for the high growth rate CTV market is that nowadays TV is not only used as a source of entertainment but also a source of knowledge and education. All these factors act as accelerators. If we take the case of air conditioners, today air conditioners not only refer to cooling machines but also air fresher.
In proportion to the growing incidence of working couples, refrigerators are gaining significance, more and more as an instrument to store and recycle ready-made victuals. In spite of many value-added Services that are being offered by most of the brands, the refrigerator market is still biting the dust. Electronics is the fastest-growing industry in India. In the liberalized economic scenario, electronics have entered every walk of our lives and have enhanced the quality of life that is enjoyed by the Indian consumer.
India is no longer a country, a market where the consumer has to rely almost entirely on the influx of smuggled electronic items to satisfy his needs. The Indian electronics industry has thrown up competitive players who are not only able to cater to the desires of the Indian consumer successfully but have also emerged as very successful exporters of electronic goods to the rest of the world.
Title – A Research Report On Marketing And Branding Strategies Of Consumer Durable Companies
Author – Aman Kumar
College – N/A
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