New Delhi, January 24: In a move likely to create ripples in the consumer electronics market, Baron International is launching a special easy finance scheme to bring Aiwa products within easy reach of the consumer. The scheme will be launched sometime next week and the promotion of the scheme in print will begin by the end of the week.The scheme? For a cash down payment of just Re 1, a consumer can walk away with a 14-inch CTV and continue to pay equal monthly installments (EMI) of Rs 299 for a period of three years. Similarly, for a 21-inch CTV the EMI will be Rs 349 and for a 24-inch TV, Rs 399. A hi-fi CD music system will be made available for an EMI of Rs 349, along with 20 CDs free.
The company has tied up with Countrywide to implement the scheme. Under the tie-up, the risk funding will be undertaken by Countrywide. Baron will be spending around Rs 7 crore on promotions for the scheme.
Explaining the strategy behind the move, Kabir Mulchandani, managing director and CEO, said: ``This is part ofour strategy to make available technology that is affordable and easily available. Our aim is to not only make our products more affordable, but also (by example) competitors' products.''
In other moves, Baron International will this year be launching more products from the Aiwa stable. An entire new range of flat CTVs is being specially designed for the Indian market in the 25-, 29- and 33-inch models.
This year, Baron International will also tap other growth areas that include products like car audios - which it feels is an unexploited market with great potential - Walkmans, cordless phones and Internet set top boxes in alliance with a large ISP at a price less than Rs 5,000. An MP3 that can download music from the Internet is also set for a July launch. u
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.