Voltas Beko Marketing Report

The Problems:
The present market share and sales in 2019 is below the target set by Voltas Beko.

Voltas Beko is a new company in the home appliances and wants to achieve the targets:
1) 10% market share in 10 years.
2) Rs. 100 bn sales by 2025.

Source: https://www.motilaloswal.com/site/rreports/636809797839278150.pdf

Voltas Beko: Marketing Survey

To understand the current situation of home appliances market and to analyze the drawbacks,
shortcomings and market potential for Voltas Beko home appliances, we performed a marketing
survey.

The market survey consisted of a questionnaire which was asked to people in the age group from
30 to 45 years. Out of the 10 people 7 were females and 3 were males. Out of 7 females 4 were
home maker and 3 were working professionals. All the respondent were married and from
Ranchi city.

The questions were asked to access the brand perception of major home appliances like LG,
Samsung, Whirlpool, Koreo, and Godrej. Also, the awareness about the Voltas Beko brand was
accessed.

Some questions were asked about willingness to pay extra money if they would get additional
features and advanced technologies like Internet of Things and Artificial Intelligence.
Questions were also asked to know the after-sales support and services. Whether they were
happy with the services of their home appliances by other brands.
To get the marketing and distribution channel details, we asked what was their preferred channel
for buying like hypermarket, showroom of a specific brand, retail outlets, or online purchase
from ecommerce websites like Amazon, Flipkart, Snapdeal, Shopclues, etc.
To get the accurate and specific insights from the answers, we focused only on refrigerators and
washing machines segment of the home appliances.

The details of the survey:

From the survey, the following facts were extracted:

1) There is a good market for home appliances like refrigerator and washing machine in
Ranchi city as 50% of respondents wanted to buy new home appliances.

2) For washing machine, Samsung is the preferred brand for people in Ranchi city.
 3) For refrigerator, people choose different brand and no specific brand is leader in the
market.

4) 50 % of people were aware about the Voltas Beko brand in the home appliances market.

5) More than 50 % people are willing to pay some extra money if they will get additional
features like IoT and AI.

6) 70 % of people are using Voltas air conditioners.

7) Hypermarket and online shopping are preferred than brand showrooms and local shop by
the people.

8) Only about 50% people are dissatisfied with the after-sale support and services from the
brands like Samsung, LG, Whirlpool, Koreo and Godrej.

Voltas Beko: SWOT Analysis

The strengths of Voltas Beko:

1) The Voltas brand is well known and valued in air conditioners market. Voltas Beko can
use the brand value to market washing machine and refrigerator by rigorous advertising
to create a trusted brand perception.

2) Half of the people are aware about the Voltas Beko brand for home appliances. The
Voltas Beko can utilize the awareness to sell refrigerator and washing machine to them.

3) The Voltas Beko refrigerator and washing machine have additional features like IoT and
AI.

4) The Voltas Beko products are available on online ecommerce sites like Amazon, Flipkart
, Snapdeal and Shopclues.

5) Beko, the Voltas technology partner is established brand in Turkish and European market
and well known for good support and services.

The weaknesses of Voltas Beko:

 1) Voltas Beko is a new brand of home appliances in Indian market and will take some time
to be established as a trusted and successful brand.

2) Voltas Beko is not involved in rigorous advertising to present the unique and better
features including IoT and AI.

3) Voltas Beko is projecting its home appliances as only premium products and set the
prices similar to other international brands like LG and Samsung, and not to the mass
market.

4) Voltas Beko is unable to create a positive and valuable brand image in the minds and
hearts of Indian people especially women.

5) Voltas Beko is not designing its products as other brands like LG, Samsung, Whirlpool,
etc. in terms of ergonomics and aesthetics.

Voltas Beko Threats:

1) The Indian home appliances market is dominated by international brands like Samsung,
LG, Whirlpool, Koreo etc.

2) There is also a substantial market share of Indian brands like Godrej which is known for
its quality and better services.

3) Voltas Beko is not selling its home appliances in hypermarkets like Reliance and
Bigbazaar.

4) For exports of Voltas Beko home appliances, there is stiff competition from Korean,
Japanese, and American brands.

5) The perception of international brands like Whirlpool, Samsung, And LG as a superior

quality product when compared to Voltas Beko.

Opportunities for Voltas Beko:

1) The revenue from home appliances in India is expected to grow at 13.9% annually.
 2) There is a huge market opportunity for home appliances in urban and semi-urban areas in
India.

3) Voltas has a reputed technology partner Beko, so there is a huge scope to utilize the
additional technological features like IoT and AI.

4) There is a great opportunity to export the home appliances products in developing

countries.

Voltas Beko: Segmenting, Targeting, and Positioning

The company can sell their products to people aged between 30 to 45 years.
Also, the Voltas Beko can target their home appliances products to international market places in
developing countries similar to Ranchi city.
From the market survey and SWOT analysis, we can conclude that Voltas Beko company has a
great opportunity to sell their home appliances as premium products to the urban working people
of cities like Ranchi.
The Voltas Beko needs a scalable and rigorous ad campaign targeted to the consumer base to sell
and give after-sales supports and services efficiently.

Suggestions to Voltas Beko to Achieve the Targets

1) To capture the 10 % market share in 10 years, the Voltas Beko should target the age
group 30 to 45 years working population residing in urban areas like Ranchi city.

2) The Voltas Beko company should showcase the technical expertise of Beko in their
advertisements on all media including print, electronics and social medias.

3) The Voltas Beko should learn from the designs of other brands like LG, Samsung, and
Whirlpool to increase the ergonomics and features related to technologies and design.
4) The company should create trust by giving better support and after-sales services to their
present customers in order to create the brand value in the customers, their friends and
relatives.

5) Products should be customizable in terms of design, color, and features. The product
should be tailor made according to every customer’s needs and wants.

Thank You