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Godrej plans ultra-cheap refrigerators

Created by : Sasi Dash, Art Director/Sr Art Director, U TV  | 09 07 2009 11:36:22 +0000
Industry : Consumer DurablesFunctional Area : Innovation(Strategy & Execution)
Keywords : godrej godrej refrigerators godrej eon cheap refrigerators
Activity:  787 views;  last activity : 07 06 2010 20:18:09 +0000

The Godrej brand name is one which is known by most of the Indians i guess, they were the one who made refrigerator a rage in India, and they are now doing the same thing what Tatas did to car coming up with a world's cheapest car, the Godrej is coming with cheapest refrigerators.


 

 

 

 

 

 

The company has designed a six litre refrigerator, which is less than two feet in dimension and would be priced at less than one-third of the standard model. The refrigerator will cost Rs 2,500 and is currently being test marketed in Andhra Pradesh.

According to industry estimates, the total market for refrigerators in India is around 3 million units per annum and is growing at 15 per cent annually.

So what do you think people will they be able to attract consumers?

  
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Yes they will be able to attract the consumers with this refrigerators, anything that is associated with cheap consumer product people will go for it, i am not any means telling we Indians don't spend money, but people have something when it comes to cheap products they readily go for it, may be its the Indian mentality. but then the product that Godrej is coming up with Ultra cheap refrigerators looks great, but have to wait and see whether it can create the same buzz like the Tata nano did. Even though it is not anyway close to comparison with Nano, but interms of cheap yes it is......Tata Nano costs $2500, whereas Godrej refrigerator costs Rs 2500. :)
By Sasi Dash, Art Director/Sr Art Director, U TV  09 07 2009 11:38:53 +0000
 
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This is a good idea of tapping the semi-urban & rural customers. Low ticket value items will hold the key to generating sales. BUT godrej also needs to have service networks in place to cater to service needs in these areas or the plan might backfire
By santosh kumar, Marketing Manager, AUTOMOBILE  | 09 08 2009 06:10:51 +0000
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I think its a Great move by the Godrej's. Since, its not only about the cheap mentality, but there are lot of families in our country who can't afford a brand new refridgerator. And this, will help them have their own piece. So that they can also drink Chilled water during Summers.
By Kashif Billal, Training & Induction Manager, H&M Hennes & Mauritz  | 09 07 2009 14:35:50 +0000
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At least in India, the normal middle class society first looks at the cost than quality. So, in this situation, its obvious that cheap rates will definitely attract customers
By Ramdas Pawar, Sales/BD Manager, Flex  | 09 07 2009 12:41:31 +0000
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