In a bid to compete with the growing competition from domestic and Korean consumer durable makers, Philips India has embarked on a two pronged strategy of sense and simplicity for growth CNBC-TV18's Tanvi Shukla reports that Philips would target the high end and the low end consumer at the same time. In cities, it will market high end liquid crystal display television (LCDs), home theatre systems, high end lighting solutions and it will sell compact fluorescent light bulbs (CFLs), wood stoves and lower priced electronic appliances for rural markets. In cities, it will set up 35 exclusive lounges and 150 shops in shop special Philips zones and is also strengthening its distribution in villages.
Vivek Sharma, Chief Marketing Officer, Philips India said, Vivek Sharma, Chief Marketing Officer, Philips India said, "We want to build the magnetic pull aspiration of the brand by focusing a lot on the top end and bringing the latest high technology and bringing relevant products and solutions. At the same time we are plugging our gaps in meeting the demands in tier two-three cities and rural areas."
Sharma said, "We have tied up with primary agriculture co-operative societies to carry out research on marketing and relevant product portfolios as well as selling products through them." At a time when the impact of weak monsoons on durables sales is still unclear, Philips hopes that this two pronged strategy will help sustain growth.
