Onida Electronics: New Product Launch

LAUNCHING OF A NEW PRODUCT ONIDA LAPTOPS

 

COMPANY DESCRIPTION

ONIDA is one of the largest television manufacturing companies in INDIA. It is one of the largest and rapid growing companies in the same field. Onida as a company was founded in 1981 as a public company. Its head quarter is in MUMBAI, MAHARASHTRA, INDIA. Onida deals in a type of industry known as electronic industry.

Onida Company started their business with electronics and then expanded their business with various products as LCD TV’S, PLASMA TV’S, TELEVISIONS, DVD AND HOME THREATER SYSTEM, AIR CONDITIONERS, WASHING MACHINES, MICROWAVES, PRODUCTS RELATED TO PRESENTATION, and INVERTERS AND ALSO MOBILE PHONES.

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Onida Company is a most popular brand now. It has got his network as 33 branch offices and 208 customer relation centers. Also the company is having 41 depots spread all over the country. Onida is also having a market capitalization of 400 crore approx. also onida electronics won an award as “AWARD FOR EXCELLENCE IN ELECTRONICS” in 1999 from MINISTRY OF INFORMATION TECHNOLOGY, GOVERNMENT OF INDIA.

EXECUTIVE SUMMARY

Onida is one of the largest rapid growing companies. It is one of the most successful companies in term of professionalism. The main objective is to prove quality of competitive prices and customer satisfaction. It is one of the objective is to provide NOTEBOOK PC as ensured quality, availability and customer satisfaction. This following marketing plan forms the basis for the launching of ONIDA LAPTOPS by ONIDA COMPANY one of the famous company in India.

The analysis will allow us to follow for the achievement of the company’s strategic goals. ONIDA LAPTOPS will be marketed to reinforce the company’s status as leader in innovation and successful product launching. This new product launching will enable us to add RS.100 crores to company’s turnover with a forecasted sales growth prospect of 10-15% over the next 5 years.

And while satisfying the need and designing the product to match individual’s lifestyle. Success will be reflected by a sizeable capture of market shares within this market, while strategically carrying the company up to the top spot as the market leader in laptop segment. Export potentials in the market will be considered in all the western countries as USA, Russia, France, and Iraq. Nigeria, Yemen and even further expansion can be planed.

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The main aim of the company is to attract a sizeable market share of the laptop segment. Also the number of customers depending upon laptops rather than personal computers is taken care off. The main aim is to sell one lakh units of laptops in the first year considering as this brand as a new brand and being expertise in the related field having manufactured the product for several brands and having also sold its own televisions.

EXPECTED TURNOVER

Above chart shows the expected turnovers in crores over the coming years in turnover of onida laptops in various countries.

In 2009 as the product is being launching in 2009 only so started expected turnover will be near about 90 lakhs. With the continuous supply of good quality and good work with good customer service expected turnover will start increasing.

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Company is planning to use new technology and other servicer beneficial for customers and company in terms of turnover which will help in increase the expected turnover to 150 lakhs in 2012. This proves that launching of onida laptops will be beneficial for the organization.

SITUATIONAL ANALYSIS

ONIDA NOTEBOOK PC is a new expansion line of onida. Onida television portfolio has been well received and now ONIDA NOTEBOOK PC is going to be launched for onida’s continues success and future profitability. Onida as a company is famous for quality products at reasonable prices and it offer best facilities. It will offer NOTEBOOK PC or LAPTOPS in various configuration as well as prices to satisfy every kind of customer. One important key to success or for the development of the product is to create product awareness and growth of customer base.

MARKETING SUMMARY

Marketing summary of onida laptops possess sufficient information about the market needs and customer needs, wants, desires and demands. It will also help to give right offer to right customer so that company can achieve customer satisfaction and can communicate with them in a better way. Also this lead to have some important information about customer which will help to make customer a delightful customer.

TARGET MARKET

The target market of ONIDA LAPTOPS or NOTEBOOK PC is shown below:

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Above shows that there is a target market of onida laptops as

CORPORATE USERS

END USERS

OTHERS

Environmental analysis

Macro environmental factors

Growing disposable income and low penetration levels would ensure greater share of wallet for the consumer industry and would help in achieving the predetermined targets. The inventions and innovations would help in shaping the industry’s future. It would be necessary to catch the changing trends in consumer lifestyles and offer the right product at right time to facilitate further growth and achievement of targets. There is a need to launch a product which will give maximum customer satisfaction and satisfy there needs.

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Micro environmental factors

The cost would further come down with enhanced possibilities of better and easy cross border talks with suppliers worldwide and the range of offerings

Would go up. With the increase in number of players, there would be more action and the industry would feel the buzz around it and would need constant high pitch communication with the customers. Network has a strong influence on the buying decision and the organization that would manage the channel better, would have a substantial edge over the others.

Competitive Strategy

Onida will try to offer more valuable offerings to the customers and would try to manage customer relationships. Onida as a company in order to be effective and ahead of competition would try to maximize benefits to the consumers. They will also react strongly to price changes made by the competitors and organizations would look at integration on backend as well as the front ends.

MARKET DEMOGRAPHICS

The profile of ONDA NOTEBOOK PC or LAPTOPS customer consists of the following GEOGRAPHIES, DEMOGRAPHICS, and BEHAVIOR FACTOR:

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GEOGRAPHICAL FACTORS

Geographical factors have been classified as:

• ONIDA NOTEBOOK will have specific domestic geographic target area. They will serve the product to domestic market.
• Onida will try to cover the Metropolitan area through their own distribution channel.

DEMOGRAPHICAL FACTORS

Demographical factors have been classified on the basis of the following attributes:

• There will be almost same featured notebook pc or laptop for the corporate, end users and other users.
• University teachers and other researchers can use it for their research work and analyzing the environment.
• High, Middle, Upper middle and middle class use it and reasonable pricing strategy will help to purchase of these notebook pc by every potential users.

BEHAVIOUR FACTORS

• It’s a general behavior of every human that NOTEBOOK PC or LAPTOP increases the status and prestige of the user.
• In today’s busy world there is need of a product which is available with consumer anywhere or any time and at every period of time.
• Customer feel that they have a separate image and prestige by using ONIDA LAPTOPS.

MARKET NEED FOR ONIDA LAPTOPS

ONDA LAPTOPS will provides its customers the opportunity to choose NOTEBOOKs with different configuration and varieties.These laptops will also fulfill the requirements of customers and also provide benefit as:-

• Reasonable pricing

Consumer needs a high quality product at reasonable price, for that reason ONIDA try to provide high quality product at a reasonable price. So that more and more customer can be attracted towards onida notebook pc.

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• High quality

Consumer want high quality product, which is must be high in regard to performance. ONIDA tried to meet this need of consumer at its level best. Quality was the main point to be taken care of by the company as this the main motto of company.

• Different varieties

Choices of customer vary from person to person .So ONIDA provides different laptop with different features. And provide laptops with different configuration.

• Product availability

One of the important things to be taken care of is Customer and customer seeking availability of product so that they can buy the product at any time they need.

MARKET TRENDS

ONIDA will produce different type of laptop which not only fulfill quality demand of customer but also reasonable price. So that more and more customer will purchase these laptops. Now a days NOTEBOOK PC production company is growing and more competitors are coming in the market. Now even customer are more aware about the product for that reason they want different types of product with different features and different styling features. The market for LAPTOPS with new and new technologies is growing faster, competition are increasing in these markets. Thus, ONIDA made segments for their product. They divided their customer in to three groups, and give emphasis on each of the group. So that company can capture all kind of customers in market.

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MARKET GROWTH

Gradually total ONIDA Company is going upward with a strong competition. With the increase in domestic market, our international market growth statistics is increasing day by day. Now with the launch of new laptops with newer technology the market share of our company is going to increase further.

COMPETITIVE STRATEGIES

Onida will try to offer more value offerings to the customers and would try to manage CUSTOMER RELATIONSHIP. The firms in order to be effective and ahead of competition would try to maximize benefits to the consumers. Firms would react strongly to price changes made by the COMPETITORS and organizations would look at INTEGRATION on BACKEND as well as the FRONTENDS.

CURRENT MARKET SITUATION OF LAPTOP MARKET

Market Overview

Luxury goods are now being perceived as necessities as now customers are having higher disposable incomes being spent on lifestyle products. There is a discernible shift in the consumers’ preference in favor of higher-end, technologically superior branded products, the demand being spurred by increasing consumer awareness and preference for new models now the modern educated customer is not confined to old technologies and old products. Now customers want to try newer products with newer technologies.

Quality products with superior technology and technology up gradation have helped the industry to achieve higher growth in terms of volume and also higher realization in value terms. Rate of growth in production has been more in terms of quantity or in volume growth rather than the growth in value terms for a number of products. This has happened because of constantly falling prices over the years due to competition among the MAJOR PLAYERS, AGGRESSIVE MARKETING STRATEGIES AND DECLINING IMPORT TARIFFS.

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Competition has forced companies to offer efficient AFTER SALE SERVICE and support and this, in turn, has swayed customer preference for good brands. There are positive growth trends in Technological goods segments – white goods and consumer electronics during and points to sustained growth because of emerging opportunities and strong fundamentals of the economy.

Because of growth in production in the organized segment and domestic availability of branded products due to lowering of import duties and other liberal

measures, the share of unorganized segment has come down sharply to only 8 to 10 per cent from 40 to 50 percent. The price difference between branded and unbranded goods has narrowed down and with branded players providing good after sales services and support consumer prefers to buy branded products.

The industry related to technology appears to have two clearly differentiated segments. The MNCs have an edge over their Indian counterparts in terms of technology combined with a steady flow of capital. The domestic companies compete on the basis of their well-acknowledged brands, an extensive distribution network and an insight into local market conditions. Competitive strategies revolve around strong brand differentiation and prices.

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Bargaining power of customers is high due to availability of many brands. Demand is Cyclical and seasonal. Demand is high generally on the basis of requirement of customers as corporate customer or end user. Demand for technology is present throughout the year. There is no preference on the basis of any special month when demand for technology is more in one month than other month.

Rural India which accounts for nearly 70% of the total number of households, offers plenty of scope and opportunities for the white goods industry. Increasing consumer awareness and preference for new models have added to the demand in rural areas also. And evolution of education had made more and more people rely on technology.

Attractive consumer loan schemes with reduced interest rates over the years by the financial institutions and commercial banks and the hire-purchase schemes have added to the surge in demand. Besides, the consumer goods companies are

themselves coming out with attractive financing schemes to consumers through their extensive dealer network. The usage of internet by the market functionaries has lead to intelligence sales of the products. It has helped sustain the demand boom witnessed recently in this sector.

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SWOT ANALYSIS

(STRENGTHS, WEAKNESSES, OPPORTUNITIES, THREATS)

STRENGTHS

• Quality product and services.
• Popular brand name.
• Continuous research and development
• Strong existing distribution channel.
• Increased share of organized sector as compare to unorganized sector.
• Attractive design.
• Body made of silver and plastic and available in many colors.
• Most of the buyers are satisfied.
• Presence of established distribution networks in both urban and rural areas.

WEAKNESSES

• Poor government spending in infrastructure and other related things.
• Lack of promotional activities by companies.
• Low purchasing power of consumers
• Insufficient capital.
• Legal and political barrier regarding import, tax and shipment and other difficulties.
• Difficulties due to competitors.
• Old technologies.

OPPURTUNITIES

• Low penetration levels
• Demand of NOTEBOOK PC is increasing.
• Improved market portfolio.
• Greater demand due to changing lifestyles
• Increasing sales throughout the country and internationally.
• Availability of easy finance.
• Promotional activities to increase brand image.
• Growing disposable income of consumers
• Increasing demand in rural sector.

THREATS

• Strong competitors
• Legal & political difficulties regarding import duty, tax etc.
• Entrance of new competitors in the market.
• The price of NOTEBOOK or laptops is decreasing continuously.
• Cheap Imports from Singapore, China and other Asian countries
• Higher import duties on raw materials imposed in the Budget 2008-09.

COMPETITORS

Onida has established its own market. But still they have to face the competitors. Some of the major competitors of onida laptops are:

• HP: HP’s NOTEBOOK is having maximum market share in capturing the market of NOTEBOOK PC in India as well as internationally. HP’S notebooks are produced in China. They are holding a leading position for long time in NOTEBOOK PC in our country.
• ACER: Acer is the Chinese producer of NOTEBOOK or laptops. ACER has its maximum market share of NOTEBOOK PC in Bangladesh. They have fewer shares in Indian market as compare to acre.
• COMPAQ: Mitsubishi is Taiwan Company. COMPAQ was an automobile company initially. Now it is producing NOTEBOOK PC also. It is now giving a strong competition to notebook or laptop market.
• DELL: Firstly they produce televisions. But now they have enhances its business by producing NOTEBOOK PC. And DELL is now giving a strong competition in laptop market as well as technological market.

MARKET SHARE OF ONIDA

PRODUCT OFFERING

ONIDA will offers different type of configuration at different price to our consumer for chooses their expected product. Following are the items:-

POINTS OF SUCESS

• Strong quality
• Better customer relationship management
• Better service
• Operational efficiency and integration
• Effective channel management
• Constant product change and product mix management
• Image of brand and product
• Distribution channel
• Retention of customer

MARKETING STRATEGIES

Marketing strategies are helpful in creating awareness, interest and appeal from our target market. So that more and more market can be capture.

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Basically marketing strategy is based on superior performance of the following areas:

• Different configuration.
• Product quality.
• Delight user.

MISSION

The main mission is to provide quality and product at a competitive price. Growth in diversity and continuous contribute to the growth is being the main market challenger. Also To benefit society at large through Innovation, Quality, Productivity, Human Development and Growth, and to generate sustained surpluses, always striving for excellence, within the framework of law, and in nothing but the truth in which we base every action

3.2 Marketing Objective

• Capture the market as a market leader.
• To attain quantitative and qualitative leadership in the technological sector.
• Maintaining positive and increased sales growth than the competitor.
• Increase the market share by market development and services.
• To increase product awareness and sales by persuasive promotional activities.
• Becoming a globally recognized and prestigious company through synergistic business investment.
• Differentiation through innovation and passion through empowerment.
• Also cost through economies of scale and world class systems and procedures that bring in delight of stakeholders.

FINANCIAL OBJECTIVE

• The company aims to sell one lakh units of NOTEBOOKS in first year of its launching and is expecting a target turnover of Rs.100 Crores from laptop market in first year.
• It expects to grow at 10-15% in next five years by satisfying customer needs through its offerings.
• They aim to make considerable profits and achieve economies through backend and front end integration.
• And maintaining double digit each year.

STP (SEGMENTATION, TARGETING, POSITIONING)

SEGMENTATION OF MARKET

The company has segmented its target market on the basis of incomes and lifestyles.

People who are well educated, have lifestyle as an important element and have high income can buy laptop.

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TARGET MARKET

The potential consumers are separated into various segments- Corporate User End User and others. The primary marketing opportunity is sell laptops to these well defined, accessible target market segments.

Corporate User: Corporate users are the users who buy the laptops for their official purpose only. The MD, GM, DGM, CEO and other.

Levels in offices are the main corporate users.

End User: End users are the users who buy the laptops for their personal use. Teachers, Students of private University, businessman etc are mainly consider as the End users.

Others: other then as mention above.

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POSITIONING IN MARKET

Onida is trying to maintain its position as a NOTEBOOK company. The position will be achieved by providing quality product, competitive price, and according to consumer’s demand and by delighting consumers. There should be experienced managers to make awareness about the product to customer. Company is also promising to offer quality offerings and better services and make a satisfied consumer as its brand ambassador. The company’s will advertise its product as the synonym of truth and providing it at a reasonable price.

STRATEGIES

ONIDA’S main primary marketing strategy is to seek and firstly create customer awareness regarding the products as well as availability of product.

Other marketing strategy are-

• Providing Total Quality Management (TQM)
• Customer Orientation
• Providing international standard products
• To increase the product line as well as length as per the expectations of the consumers
• Competitive prices of product.

MARKETING MIX

ONIDA’S marketing mix is comprised of the following approaches to product, price, promotion, and place or customer service.

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PRODUCT

o BRAND NAME

The name of the brand is “ONIDA NOTEBOOKS”.

o PPRDUCT CLASSIFICATION

ONIDA NOTEBOOK has five types of product. These are-W125U-T3000, W3001U-T4150, W4200-T4500, W4510U, W5520U

o QUALITY OF PRODUCT

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ONIDA is mainly popular for the maintaining of high quality of its products. Total Quality Management (TQM) is purely practiced here.

o DESIGN

Attractive Design, Color, configuration, Comfortable weight.

o PACKING

ONIDA supply the notebooks to the users with attractive packaging. It provides special cartoon with strong handling of the NOTEBOOKs to its dealers.

o Size

The products’ size vary from to one product series to other product series

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o Service

ONIDA provides best after sales service and take feedback for its products.

PROMOTION

o SALES PROMOTION

ONIDA provide initially shot-term incentives to encourage and purchase or sale of its products. Occasionally company has decided to give special discounted price for its products. Company also decided to give T-shirts, caps, bags etc. to lure the customers.

o ADVERTISEMENT

Company decided to gives advertisement for ONIDA NOTEBOOK through newspaper, billboard, popular magazine, leaflets, sponsoring on game competition, internet etc.

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o PERSONAL SELLING

ONIDA company is also deciding to sell laptops through personal selling but till now we haven’t arrange any kind personal selling.

PRICE

o LIST PRICING

Pricing of the product are being made on the basis of technology used in the product and depending upon the various series of onida. The various pricing of various varieties of laptops are:

o DISCOUNT

Company has decided to allow discount facilities to all the retailers and dealers.

o Payment period

ONIDA will sell NOTEBOOK on credit to its distributor and retailers and after the sale e period of 2 months can be given for making payment.

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PLACE

CHANNELS

ONIDA has its own distribution channel for the distribution of their products.

DISTRIBUTOR

ONIDA have own distribution channel for distributing their products.

Location

ONIDA covers district areas of our country to capture the market for their products.

TRANSPORTION FACILITIES

ONIDA has its own transportation facility for its distributors. Distributors are themselves responsible for taking the products to their showrooms.

MARKETING RESEARCH

One of the important things is research work. Research is very vital for any company to know about current market position and also to predict future needs.

Information is collected through the dealer and retailer.

o Question – “How did you hear about our ONIDA NOTEBOOK product?” note the answer and this answer can be use for the promotional activities.

o Customer suggestion – New feedback service and customers’ suggestions system to gain additional information. They want to know from the customers about-

ü What suggestion do you want to give to company to improve our product?

ü Why do you need a laptop and why onida laptop only?

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FINANCIALS

It is very important while the launching of a product to take care of the financial overview of ONIDA NOTEBOOK related to marketing activities. ONIDA address brake even analysis (BEA), sales forecast, expense forecast, and showed how this activity are link to the marketing activity.

BREAK EVEN ANALYSIS

Break even is a point where cost is equals to sales. The break-even analysis below shows the number of single sales, or units, that we must realize to break-even. Analysis of breakeven point is based on the cost and the sales of a company.

SALES FORECAST:

Sales forecast means planning or estimation of sales so that future sales can be assessed. ONIDA thinks that the sales forecast will be achieve into the five main streams; W1250U-T3000, W3001U-T4150, W4200U-T4500, W4510U and W5520U. This will steadily increase the sales. As the advertising budget allows the target market forecast, the listed of all the potential customers get divided into separate groups. The forecasted customers group divided into various categories: Corporate Users, End Users and others.

EXPENSE FORECAST

Every company has to make a prior forecast of expenses. It is important to mark such forecast to limit the expenses made in future. These expenses are to be budgeted at approximately 5% of total sales for 2007-08 and 6% for 2008-09. Mainly expenses are to be tracked in the major marketing categories as:-NEWSPAPER ADVERTISEMENT, PROMOTIONAL EVENTS, BILLBOARDS, PRINTED LEAFLETS, and ADVERTISEMENT IN TELEVISIONS ETC.

CONTROLING FACTORS

The main purpose of ONIDA NOTEBOOK’s marketing plan is to serve as a guide for the organization while launching of the laptops successfully. This plan is all about implementation and changing the business and also to make it better. In this marketing plan we look at specific implementation programs, and the details that it takes to make it happen. The following are the areas which will be specially monitored to enhance the performance of company and launching of laptops.

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Contingency Planning

Contingencies likely to arise:

• Price War
• New Technologies in the market
• More Competitors

Company’s Strategy to counter the same:

• Creating value preposition
• Continuous innovation and product development
• Creating distinct brand identity