Real-time Stock quotes, portfolio, LIVE TV and more.
Mar 13, 2012, 06.21 PM IST
Godrej Appliances, the consumer durables division of Godrej Group, today said it will focus more on the 'bottom-of-the-pyramid' segment, following the success of its lowest-cost refrigerator 'Chotukool'.
"The 'Chotukool' was an experiment to test the bottom of the pyramid market. We are in three states and within a year or so we will have a pan-India rollout.
"When we rollout nationally, we want to be ready with other products also," Godrej Appliances Chief Operating Officer George Menzes told PTI.
Dubbed as the cheapest refrigerator in the country with a price tag of just Rs 3,500-3,800, 'Chotukool' is available in Maharashtra, Gujarat and Tamil Nadu at present.
"The Chotukool is a low-cost cooling solution for the bottom of the pyramid (BoP) segment. The biggest learning for us in the 'Chotukool' model is the business channel.
We have tied up with self-help groups like Pratham and some organisations which are into empowering women and making them entrepreneurs. We are leveraging such bodies to take the product to the rural customers through these self-help groups," he said.
Menzes further said alongside, they are also helping self-help groups to get financing from microfinance firms. Its an ecosystem where Godrej, self-help groups and micro- financiers come together to form a business model. Godrej has also tied up with India Post, besides embarking on an awareness campaign to educate the customers about the product.
"Right now, we are building an ecosystem to move BoP roducts through this channel. So we thought of creating a bouquet of products for this segment other than limiting ourselves to Chotukool," he said.
Emphasising that this is not a philanthropic effort but striking a balance between business and social objectives, Menzes said, "as a strategy we want to differentiate Godrej from others by doing something for the BoP segment, because we want to improve the lives of the BoP segment."
May 20 2013, 23:30
- in World News
May 20 2013, 12:21
- in Commodities