The recent foray digital device maker BenQ made into the Indian market was remarkable for the number of products introduced in to the Indian market? 30? at a go!
Adrian Chang, President, BenQ Asia Pacific Corporation, has confidence in the brand?s ability to pull it off. He should know. On his 26th visit to India, he says that during every visit he has seen the country changing by leaps and bounds. ?Today it is striking to see the number of cars that hit the roads everyday. Life has become very fast-paced. And the lifestyle of the Indians have undergone cataclysmic changes. People are shifting towards a digital lifestyle,? he observes .
On his latest trip to the country, Chang launched a series of LED monitors, LCD TV, CULV laptops, and small and mini projectors for the India. BenQ is slated to invest $1 million in India to increase its visibility and strengthen distribution network. Moreover, its focus has largely been towards green products. They are the first one to introduce LED monitors that consume minimal power ? they can run on electricity generated simply by the paddling of a bicycle, demonstrated in Tokyo a day before this India launch.
He has few apprehensions about finding the consumer. ?Recession has slowed down the fast-paced market but India, unlike China and other South East Asian countries, has continued to grow its domestic market. Here the middle-income group also contributes enormously to the growing market,? adds Chang. While China contributes largely in manufacturing the products, export is their primary source of income . 36% of BenQ products are manufactured in China, which has been negatively impacted by the US recession.
Currently India is being seen as a better market than the saturated South East Asian economies. And online information is crucial to growing the market. ?Indian consumers are informed buyers. They compare and contrast products, read reviews and then choose which product to purchase. Thus competition is also high?, says Chang.
Until now, BenQ products have reached the consumers only through channel sales. By end 2009, the brand will open BenQ Zones, exclusive showrooms for their product ranges. The company will also retail in India through multi-brand outlets and plans to reach 10,000 cities and towns in India by the end of 2010.Operating across 30 countries, the revenue of BenQ Corporation crossed $1.54 billion in 2008 and with newer products, the sales would go up higher.
BenQ will also introduce data-based voice systems in India. ?Though our cell phones could not survive in the Indian market due to competitive pricing strategies of the other brands, we will be back with our convergence system in 2010,? says Chang.
Chang has extensively travelled in southern India and fondly remembers his bare- footed visit to Madurai?s Meenakshi Temple . Perhaps the divine will listen this time!