Product Life Cycle Stage of Godrej Chotukool Essay
1 ) Introduction: This stage is usually characterised by Low competition, efforts to teach consumers regarding the product, trials and free of charge samples. installment payments on your Growth: This kind of stage is characterised simply by mass marketing promotions and tries to identify the product as a result of competitors. 3. Maturity: In this level, firms focus on finding new target segments and creating value enhancements. 4. Decline: In this level, the product course mostly passes away due to solid competitors or obsolete technology.
Firms concentrate on sales promotion, tie ups or will leave your site and go to emerging markets. Godrej Chotukool currently is based on its intro stage. According to Godrej Appliances Vice-President (Corporate Development) G Sunderraman, the company is currently focussing on: 1 . Instructing the new owners, training the intermediaries and building the distribution infrastructure.
2 . Interacting a distinct worth proposition to the emerging consumers is also difficult. 3. To get Chotukool, the Godrej group has junked the traditional model of a private channel which has a sales force and a distributor-dealer chain and has signed up with hands with micro-finance corporations. 4. Chotukool requires demo and education which doesn’t happen inside the trade, and so Godrej was reluctant to use traditional operate channels. The corporation has created a marketing tie-up with the India Post (Maharashtra Circle) to leverage the vast reach of the latter in terms of number of offices and manpower to enhance sales of ChotuKool’. The India Content team does not only generate sales leads, but will likewise book instructions and collect payment via customers.
Intended for physical delivery of ChotuKools at customer’s doorsteps, Godrej uses Share Parcel Content Service. five. Apart from this, Godrej also involves village young ladies in selling the products at a commission of Rs one hundred and fifty per product sold (something that the organization claims can reduce the division and marketing costs simply by 40 per cent). For Chotukool, the Godrej group has junked the traditional model of a private channel having a sales force and a distributor-dealer chain and has became a member of hands with micro-finance institutions. This new distribution ecosystem is merely one of the exceptional experiments that Godrej is attempting out to help to make a sprinkle in the lower part of the pyramid refrigerator industry.
There are many more. But the obvious winner is definitely its cost. By Rs 3, 250, it costs nearly 35 % less than the lowest priced category of refrigerators available in the market today. Besides involving community girls to offer the products at a commission of Rs 150 per product marketed (something which the company claims will decrease the distribution and marketing costs by 40 per cent), Godrej moved in for many engineering innovative developments to keep the cost low.
The type is small and the number of parts in Chotukool has been decreased to just twenty instead of 200 that get into regular freezers.