Financial Daily from THE HINDU group of publications
Wednesday, Oct 16, 2002
Financial Daily from THE HINDU group of publications Wednesday, Oct 16, 2002 |
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Marketing
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Strategy Polaroid to foray into digital segment Ajita Shashidhar
NEW DELHI, Oct. 15 AFTER a three-year lull during which the company was trying to consolidate its existing business in India, Polaroid India, is now all set to expand its operations in the country by foraying into the digital photography segment by June next year. Speaking to Business Line, Ms Achal Khanna, Country Manager, Polaroid India, said, "We have been going slow in launching our latest international range of products in the Indian market, as we first wanted to put our existing business together." Ms Khanna said that the company had registered a 30 per cent growth in the last one year, which was possible due to massive changes made to their entire marketing strategy. "Our turnover was less than Rs 40 crore in 1999 with dismal profits," remarks Ms Khanna. She said that the company would also launch other products in India such as an instant camera with an instant zoom, as well as fortune camera, which will also print the customer's fortune for the day. "These products have been a great hit in the international market and we are confident that they will do well in India also," says Ms Khanna. Speaking about the company's new marketing strategies, Ms Khanna said apart from being available in as many as 15,000 studios, out of which 5,000 of them are exclusive Polaroid studios, the company is now concentrating on increasing its presence in non-traditional outlets such as documentation shops, STD booths, 24-hour petrol pumps as well as chemist shops. "Such outlets, on an average, are doing anywhere between 10 and 15 pictures per day," she says. The company plans to open 3,000 such outlets in various cities and towns in the next one year, out of which 2,000 of them have already been set up, says Ms Khanna.
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