Financial Daily from THE HINDU group of publications
Thursday, May 27, 2004
Financial Daily from THE HINDU group of publications Thursday, May 27, 2004 |
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Marketing
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Market Shares AIWA aims at 10 pc share of audio-video market Our Bureau
Mr Prasun Banerjee, Division head of AIWA, along with model Indrani Dasgupta, unveils a new personal audio range in the Capital on Wednesday. — Kamal Narang
New Delhi , May 26 ARMED with a new logo and strategy to rebuild its brand image, Sony's AIWA is not only looking at contributing 10 per cent to the total turnover of Sony India Pvt Ltd, but is also targeting 10 per cent market share of the Indian audio-video segment by the end of this fiscal. Since its relaunch in the Indian market in October 2003 as a brand owned by Sony Corporation, the company proposes to focus on product innovation, customer services and channel consolidation, Mr Prasun Banerjee, Divisional Head-AIWA, said. "Initially we will not be targeting the numbers, the objective is to rebuild the brand image which was lost after AIWA exited business in India in 1998," he said. "We hope to contribute about 10 per cent to the total turnover of Sony India, which closed the last fiscal with a turnover of Rs 850 crore," he said. AIWA had entered the Indian market in 1997 with Baron Electronics. Post-exit, AIWA customers were left in the lurch for want of after sales services and spare parts. Sony Corporation bought the AIWA brand globally in 2002. The brand was re-launched in India with home audio systems in seven cities including Delhi, Mumbai, Pune, Bangalore, Hyderabad, Chennai and Kolkata. The AIWA products are now supported by Sony India's after sales service network comprising 175 authorised centres. Unveiling a slew of 22 products on Wednesday in the personal audio systems market targeting the youth, Mr Banerjee said, the company will launch aggressive campaign to expand its presence in 30 Indian cities during the current year. The products are in the price range of Rs 690 to Rs 8,990. "Our aim is to build a strong presence for AIWA across the country by synergising our business with Sony. Initially we'll focus on 10 key markets including the metros. In the subsequent phases, we will take AIWA to State capitals and district headquarters," he said. AIWA plans to strengthen its product range with home theatres, micro-systems and MP3 players by July this year. Regarding the company's ad spend on AIWA, he said, "AIWA will spend 10-15 per cent of its turnover for advertising and brand building. If required we would not hesitate to increase it." The company, he said, would be investing around Rs 10-Rs 15 crore for expanding reach, increasing customer service set-ups, media and brand awareness.
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