According to Mr Suresh Sukumaran, senior general manager, marketing, televisions (consumer electronics), Philips India Ltd, with this move the company plans to showcase its entire range of colour televisions (CTVs) which includes high-end premium products such as Plasma CTVs and Projection CTVs among others. Along with the CTV range, we will also display our entire range of audio/videos embedded with the latest technology, he adds.
Currently, the companys brand shops Philips Arenas are located in six major metrosMumbai, Delhi, Hyderabad, Cochin, Pune and Chandigarh. Mr Sukumaran informs that the new concept has taken off pretty well as the company has garnered positive response from consumers in these metros. In fact, after seeing the response, we decided to extend Philips Arena to other cities as well, adds Mr Sukumaran.
Keeping in mind the growth potential of the Real Flat CTV segment, the company is now poised to introduce a host of new products in the 21-inch and 29-inch Real Flat segment in the next six months.
Says Mr Sukumaran: This year Real Flat CTV in the 21-inch bracket has grown by 65 per cent between January and May compared to the previous year. Likewise during the same period, Philips 29-inch Real Flat CTV has grown by 57.6 per cent this year compared to the previous year.
Further, Mr Sukumaran adds that in 2001, the overall 5.4 million CTV units grew in volume terms at eight per cent over 2000. For 2002, the CTV market is projected at six million units and is expected to grow at 11 per cent in volume terms, adds Mr Sukumaran.
On the companys new product launches in the audio segment, says Ms Sharmila Sahai, general manager, audio and video (consumer electronics), Philips India Ltd : We have recently extended the product portfolio of our MP3 players from wOOx 1 technology to wOOx 2 technology with on-ground promotional activity. We plan to launch three new models of MP3 models embedded with wOOx 2 technology soon.
According to Ms Sahai, as part of its MP3 mania marketing programme, Philips India has been the main co-sponsor of the Bali Sagoo Five Cities Tour with the objective of reaching out to its core target audiencethe Indian youth.
In order to promote the new MP3 player with upgraded technical features, the company is also planning to launch a new mass media advertising campaign.
On Philips Indias new retailing and marketing strategy, says Mr Prashant Mulay, research analyst, Strat Caps Securities Pvt Ltd: Philips India Ltd will be driving a good marketing vehicle by expanding exclusive brand shops in order to promote its high-end specialised products. However, these products if displayed at the normal dealer showrooms may not motivate consumers to spend more time browsing through them carefully.