Industry Analysis - Washing Machines with ONIDA

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INTRODUCTION

As we know, modern life is changing rapidly and only change is imminent and unavoidable in this universe; and this human kind in the changed form of a consumer is not a king now but he has become an emperor. Now a days, marketing is the core concept of any organization and this marketing activity turns around the consumer. So present era can be termed as era of consumerism.
Said Charles dickens of French Revolution in A Tale of Two Cities, written 100 years ago: It was the best of time; It was the worst of time. Today there are many blessings: extremely high productivity because of mechanization and automation, the promise of computer and internet, the rapid growth of global trade, and the end of the cold war. Human kind today has capacity to end the hunger in the world and to cure many epidemic diseases.
Here in its full capacity the industrial innovators have done many more innovations to satisfy the needs of the target segment and to meet their lifestyle necessities and washing machine is one of those innovations. Now, life is quite busy, daily household works need some convenience, and washing machine provides this facility.
Washing machine as a consumer durable item was considered to be luxurious home appliance in India 10 or 15 years ago; but after the invent of new economic policy ,the scenario has been improved by many folds. Now it has become a necessary goods in nuclear or service class family and the same thing is happening in middle-class income group of India, which is now 300 million in number, approximately equal to the population of U.S.A . So there is a great scope for this item in the changing way of consumer behaviour in India and realizing this fact MIRC ELECTRONICS LTD.; a premier player in colour and black & white television has jumped into the market of washing machine.
But we have already said that the scenario is quite different now and there is a tough competition in this segment. Washing machine sales volume in India has crossed 1 million mark 1 year ago but it is also a point to be noted there are so many established companies engaged in this market. Therefore, it has to compete with them. For this purpose, company is taking many efforts as the part of their marketing strategy to promote its product.