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PROJECT ON MARKETING STRATEGIES OF BPL COLOR TELEVISION

Extracts from this document...

Introduction

´╗┐aims ed. consultant d-977, palam ext. I, sec. 7, dwarka, new delhi centre code: 2769 PROJECT ON Marketing Strategies of BPL Color Television Submitted by: pankaj Mishra Reg. no.: 520853621 a project report submitted in partial fulfillment of the requirements for the degree of master of business administration of sikkim manipal university, india sikkim-manipal university of health, medical and technological sciences distance education wing syndicate house, manipal-576 104 ________________ Student declaration I here by declare that the project report entitled ?Marketing Strategies of BPL Color Television? submitted in partial fulfillment of the requirements for the degree of Master of Business Administration to Sikkim-Manipal University, India, is my original work and not submitted for the award of any other degree, diploma, fellowship, or any other similar title or prizes. ________________ University study centre certificate This is to certify that the project report entitled ?Marketing Strategies of BPL Color Television? submitted in partial fulfillment of the requirements for the degree of Masters of Business Administration of Sikkim-Manipal University of Health, Medical and technological sciences Mr. NIKHIL NAGPALhas worked under my supervision and guidance and that no part of this report has been submitted for the award of any other degree, diploma, fellowship or other similar titles or prizes and that the work has not been published in any journal or magazine. Reg. No.: 520853621 certified ________________ ACKNOWLEDGEMENT This work in order to come in its present state involved much more than my effort. I have various sources and people who have helped in my work and gave me a deep insight into the various benefits provided by the company. I would also like to thank my internal guide who took pains to guide me throughout the project and spare her valuable time for the same. NIKHIL NAGPAL ________________ PREFACE A retrospective view of the electronic product of India (the history is not very long) bring forth the fact that within the last two decades the manufactures preference for foreign goods and items. ...read more.

Middle

Low qualities resulting in exports prices being non competitive 7. Additional fiancée not available for WC from India’s Banks OPPORTUNITIES 1. Potential market for CTV sets in India is vast as CTV penetration in the country is one of the lowest, 43 person per 100 population possess a TV set 2. 66% of CTV revenue seen coming from rural areas, BPL can upon this 3. India’s rapidly growing middle class segment 4. Growing replacement market 5. Multiple TV homes increasing 6. TV Veopar Journal states, greater export potential for CTV in Singapore (currently 81% export share), followed by UAE (18%), China & Malaysia 7. The increasing presence of multinational in India for manufacturing be it Samsung Goldster, Panasonic, Sony, provided an opportunity for upgrading the quality of manufacture in the country 8. Growing market, increasing export opportunities THREATS 1. Kabir Mulchandani picked up AIWA over Akai since AIWA is producing kits 10% to 15% lower prices than Akai, Hence armed up for low-price in CTV 14” Rs. 5950, 20” Rs11400 2. China largest TV manufacture KONKA ready to host the red flag over India’s CTV Market, KONKA entered the CTV arena last year 3. Kabir Mulchandani ‘s marketing Sales & Distribution tie up with HHEA (Hitachi Home Electronics Asia) to initially market three model 21”, 29,” & 33” 4. Patent right on “On Screen Display” and “Menu Display” a major road block for BPL exports to Germany, USA & Italy 5. Existing MNCs Samsung, AIWA, LG and Philips continuously raising their share while BPL despite of increasing sales losing its market share 6. The Indian domestic manufacturing industry is facing the problem of the brand names from abroad and this is an area anxiety. 7. Alliances Lead Players Company Share Videocon 21 Toshiba, Japan 22 BPL 22 Sanyo, Japan ONIDA 14 JVC Japan Philips 10 Baron International 10 Akai, Japan Panasonic 3 Samsung 5 Sony 5 * Leading Brand Bazooka ONIDA, Videocon, BPL, Turbo, Tough, Panasonic, Samsung, Akai, Philips, Sony, Salora, Golden Eye, Philivision, Dyanora, Sharp, Bush, Thomson Budgetline MARKETING STRATEGIES & MIX ________________ MARKETING STRATEGIES Broadly it can be started that BPL Ltd. ...read more.

Conclusion

The only single brand to cross sales of 1 million color televisions (for the second consecutive year) 3. The no. 1 exporter in consumer electronics, registering a 53 growth in exports The BPL brand is a most valuable asset and a source of competitive advantage in today?s marketplace. It id defined and articulated a powerful brand vision for BPL to stand for ?Excitement?. Everyone wants BPL to be he most exciting brand in the business. Driven by the values of offering the best technology, style innovation and customer delight. This brand vision will be the mantra to guide the business. The management and employees of BPL are committed to devising winning strategies backed by smart operations, for consolidating and growing the leadership in the coming years. People at BPL, recognize the immense challenges both operational and strategies, that they face. It will be an endeavor to meet the challenges that the men and women of BPL would be successful in achieving the goals. ________________ Recommendations ________________ Recommendations 1. BPL should focus on the three new areas namely telecom, alkaline batteries and color monitors besides the existing line of CTVs washing machines, audio system and refrigerators with product development, innovations, etc. 2. The up-gradation of product quality through digitalization where the focus of consumer electronics is heading towards 3. Identifying niche markets and segments 4. Increase investments in research and development (now only 0.35% of sales are used for R & D purpose) 5. Indian companies like BPL have numerous schemes running for its dealers at the same time, creating huge accounting problems for these dealers like credit notes which are now pending for six month. The BPL can streamline dealer networks and increase efficiency and transparency. 6. Better monitor and control systems for their supply logistics 7. Move from price cutting measures to price bundling offers especially for their high end products. 8. Thus for BPL what will make a difference is the attitude of its brands. Therefore what is needed first is strong planning backed by competitive pricing and marketing strategies with a focus on brand differentiation. ...read more.

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