By:- Rajesh Bhanushali(Roll no.-02), Sneha Chavan(Roll no.-06), Samson Mascarenhas(Roll no.-22), Sonal Patil, (Roll no.

-31), Suman Raina(Roll no.-38),

CONSUMER DURABLES DEFINED:

An individual who buys and consumes products or services for personal use and not for manufacture or resale. A consumer is someone who can make the decision whether or not to purchase an item at the store, and someone who can be influenced by marketing and advertisements.

Consumer:-

Anytime someone goes to a store and purchases a toy, shirt, beverage, or anything else, they are making that decision as a consumer.

EXAMPLES: Durables:-

In economics, a durable good or a hard good is a good that does not quickly wear out, or more specifically, one that yields utility over time rather than being completely consumed in one use.

 Examples

of consumer durable goods include cars, household goods (home appliances, consumer electronics, furniture, etc.), sports equipment, and toys.

Thus, consumer durable can be defined as:y The products which last for some time e.g. T.V., refrigerator, electric iron, etc.
y

These products require more selling efforts on the part of salesman as compare to other products. After sale service of these products are very essential.

TYPES OF CONSUMER DURABLE GOODS:y

White Goods Heavy consumer durables such as air conditioners, refrigerators, etc., which used to be painted only in white enamel finish. Despite their availability in varied colors now, they are still called white goods. Brown Goods - Relatively light electronic consumer durables such as TVs, radios, etc. Consumer Electronics - Mobile phones -MP3 players -DVD players -VCD players

THE TOP 10 PLAYERS IN CONSUMER DURABLES SECTOR ARE:Nokia India LG Electronics India Ltd Philips India Titan Industries Samsung India Electronics Whirlpool Appliances Siemens Sony India Videocon Industries Blue star

y y y y y y y y y y

CONSUMER BEHAVIOUR TOWARDS DURABLE GOODS

Consumer Buying Process:NEED RECOGNITION

INFORMATION SEARCH

EVALUATION OF ALTERNATIVES

PURCHASE DECISION POST PURCHASE BEHAVIOUR

SHIFT IN THE CONSUMERS PREFERENCE.

1. consumer awareness and preference for new models. 2. Increase in manufacture of branded products. 3. Narrowing down of price between branded and nonbranded goods. 4. Efficient after sales service and support. 5. There has been shift in the definition of needs and wants.
 EXAMPLE a mobile phone is more of a need today then a want.

4PS OF CONSUMER DURABLES PRODUCT:y

The consumer durables industry can be broadly classified into two segments: Consumer Electronics and Consumer Appliances.

PROMOTION
y y y

Identifying a unique differentiating factor. promoting it effectively . exclusive marketing campaigns aimed at addressing specific concerns of prospective customers. strong emphasis on the sub-letting of floor space in larger stores to smaller retailers selling a variety of products and services, such as musical recordings and coffee.

EXAMPLE
 For instance, instead of focusing on the basic

space conditioning attribute, LGs AC marketing campaigns focus on health benefits resulting from their superior air filtering technology, thus striking a chord with urban consumers for whom safety from pollution and dust is perhaps as significant a need as air-conditioning.

PLACE: Type of Distribution: y Exclusive Distribution and Service Network: y Consumer Durables are mainly distributed by certain dealers who are authorized to sell a specific product within a particular territory.

PRICE
The consumer durable industry is highly price sensitive. y For low range customers the price is the determining factor. y For middle class and upper range customers, brand name, technology and product features are more important. y Advanced technology and increasing competition is narrowing the price gap between products in this sector.
y

Product :- NOKIA and MICROMAX Nokia was launched almost 10 years back in Indian market where as Micromax is comparatively new player. So, Micromax differentiated its product on the basis of price and long battery backup.

Price:1.The pricing of Nokia phones is comparatively higher than the Micromax phones (Phones with same Features).

2. Both the companies have different price ranged products on the basis of the income(low range phones), work status(for businessmen, executives).

Promotion:- At present both the companies are using popular actors as their brand ambassadors. But Nokia is promoting their product on the basis of their goodwill/reputation in the market whereas Micromax is promoting their product on the basis of less prices, extended features. Place:- Both the companies distribute their products through authorized dealers. Both of them have various service centers. But Nokia has a wider distribution network whereas Micromax is building and trying to cover as much network as possible.

KEY GROWTH DRIVERS FOR CONSUMER DURABLES

y

The demand for consumer durables has been rising with the increase in disposable income. The growing Indian middle class is an attraction for companies who are out there to sell their products. Availability of newer variants of a product.

CHALLENGES

DEMAND SIDE: y customers have increasing choice from both domestically produced and imported goods, with similar features.
1. y

MNCs hold an edge over their Indian companies in terms of superior technology

SUPPLY SIDE:
y

supply-related issues pertaining to distribution and infrastructure. lack of well developed distribution networks makes it especially challenging to penetrate the fastest growing rural areas economically. regular power cuts and poor road linkages make systematic production, assembly and delivery problematic.

CONCLUSION
y

Consumer durable goods industry is growing more than expected in India because of huge population of India. The Indian consumer remains one of the most upbeat globally. In fact, it is widely believed that the Indian market will fuel the growth of multinational companies in the coming years. While most leading companies are cutting costs in the US and Europe, they see India as a strategic market, which can fuel their growth.

THANK YOU