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It’s time BPL & Onida wake up from their slumber, before they fade into oblivion...
Once
upon a time there lived a king ruling over millions in his estate. But then suddenly foreigners invaded his secure land and he was overthrown from his high-seat. That’s the sad saga of our home-grown consumer durable giants – BPL, Onida, Kelvinator, Bluestar, which were reduced to rubble by the Korean chaebols, LG and Samsung. Little did Rajeev Chandrasekhar know that fighting with father-in-law TPG Nambiar may have handed him the reins of BPL, but not the acumen to run the company, which soon faded into oblivion. Speaking to 4Ps B&M, Brand Analyst, Harish Bijoor explains, “In the space of consumer durables, no leader is forever. This is a slippery totem pole. Marketers need to learn to be nifty enough to hang on with aggressive media spends. Those who don’t, slip by. BPL lost out on this count for sure, and that too after a mega decibel use of the Big B at one point!”It’s a hard fall, from the pinnacle to the floor. Another cult brand which took the fall was Kelvinator. An indisputable leader in the refrigerator segment, the brand was killed after Electrolux bought it. Realising the folly, Videocon (which brought out Electrolux’s Indian subsidiary) – brought the ‘penguin’ alive. But will Kelvinator be able to regain its lost glory? “The Kelvinator penguin is a ubiquitous brand image. I do believe, backed by adequate media spend pressure; the brand can be re-invoked in the mind of the discern- ing Indian consumer. The Kelvinator compressor has brand equity that is rock-solid. Re-inventing the brand magic is a possibility,” says an optimistic Bijoor. With the onset of the festival season, competition is heating up in the durable’s sphere. Shantanu Das Gupta, VP Marketing, Whirpool says, “Our marketing and promotional activation this season will be unique in the industry and deliver unparalleled benefit to the homemaker.” The company has earmarked Rs.60 crore as advertising budget in FY08 – a 20% increase over the previous year.
But it’s a tough task for the old horses to fight the battle. Only a complete on-your-toes marketing stance, investment in mega decibel campaigns, investing ahead of the curve, utilising every event opportunity whether it be cricket or Bihu to advantage may do the trick! With marketing & advertising spends at an all time high, taking on the Korean giants might not prove to be an easy task for the erstwhile leaders. With their value pricing, LG & Samsung control most of the consumer durable mart. Nevertheless, the desi also-rans are stocking up arsenal and might yet prove to be worthy opponents to the Korean giants in the Indian mart.
Edit bureau: Sreoshi Ghose
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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