India’s infrastructure boom has brought in loads of opportunity for consumer durable companies. The business to business concept is zooming annually at 40% as compared to the 10% growth rate of retail business which is a business to consumer concept. Consumer durable companies are now looking out for corporate attention. Some of the examples are as follows: 1) Five years ago, LG Electronics, its B2b business stood at Rs.50 crore. Now it has become Rs.400 crore division. 2) An air conditioning company, “Blue Star” has targeted airport air conditioning as a major growth area. The firm has bagged 11 airport projects valued at Rs. 68 crore.
The important product categories of institutional business can be referred as centralized air conditioning and television. The consumer electronics companies have taken special care towards the specific industry requirements by designing products for them. For example: The LG’S Interactive Hotel TV which is launched in the market is specially created for the hospitality sector. This LG TV has a special feature by which the TV’S volume can be controlled and accessed by the Hotel’s management. This facility is provided so that the sound does not disturb the hotels other guests. A Dutch based electronics major “Philips” have come out with a mirror, when it is switched off. So, hotels conventional basic models to flat TV. In today’s time there is an increase demand for LCD’S and Plasma TV’S.
The institutional business continues to provide huge growth opportunities with wafer thin margins. Companies are now looking at Institutional sales as a brand building strategy. The benefit of this is seen in large public venues like shopping malls, airports, railway stations and hotels. Even the Chinese company have experience its own volumes from institutional business rise by 15 to 20%. The consumer durable companies in India have welcomed the infrastructure boom.
Many Data source is from moneycontrol.com
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