Says Mr Ishii: This is part of our vision to consolidate leadership in both Flat CTVs and VCD Hi-fis for fiscal 2003-2004. Our strategy is two-pronged: one factor is to keep expanding and leading the market with newer and better technology products. The other is to use all forms of communication to reach out to the loyal Sony customer and grow this segment from a multitude of people who aspire to own a Sony.
According to Mr Ishii this strategy goes a long way in building long standing relationships, which extends far beyond just after-sales service. In addition, Sony Worldwhich showcases its entire range of products is also one of the key centres through which consumers get directly connected with the company, he adds.
With this move, the company expects Sony World to contribute an additional 15 per cent to its overall sales turnover within a year. Currently, Sony World contributes 11 per cent to its overall sales turnover.
Adds Mr Ishii: With the completion of 14 Sony Vision Exhibitions, we have recorded business in excess of Rs 12 crore. By this fiscal, six more exhibitions will be conducted.
Informs Mr Ishii: Last year (April 2001-March 2002) the volume of CTVs was about 150,000 units. This year we expect Flat CTVs to record over 250 per cent growth and a volume of 500,000 units. Sony India operates only in this segment and our target for the current fiscal is over 50 per cent market share. For next year, FY 2003-2004, our target is to increase this market share further.
As for the audio market, Mr Ishii informs that the company has recently introduced X-treme Series of VCD hi-fi audio systems. Our target for the current fiscal (2002-03) is to retain our leadership in this segment at over 60 per cent market share. For fiscal 2003-04, we plan to increase our market share even further. Our promotional budget will be approximately four per cent of our turnover. The medium will be mass media advertising campaign and the Internet which will be supported by below-the-line activities outlined in the beginning, explains Mr Ishii.