PRODUCT MANAGEMENT PROJECT

INTERIM REPORT

AIR-CONDITIONING INDUSTRY

Submitted To: Prof. Dipanjan Kumar Dey

Submitted By:
Group no. 4 (Section E)
Arnab Bose (09BSHYD1041)
Aryaman (09BSHYD1043)
Jibin Kalloor (09BSHYD1051)
Kshitij Chanana (09BSHYD0396)
Prateek Rai (09BSHYD1067)
Saurabh Mathur (09BSHYD0752)
Tanvi Mehta (09BSHYD0916)

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 Table of Contents

Brief Introduction of the Industry: .......................................................................................... 1

AIR CONDITIONER SCENARIO IN INDIA ..................................................................... 1
Graph representing the growth of Air conditioner Industry ............................................... 2
MAJOR PLAYERS IN THE AC MARKET (WINDOW AND SPLIT AC¶s) .................... 3
Segmentation of AC market .................................................................................................. 4
Market structure for Air conditioning industry .................................................................. 4
Project Details ....................................................................................................................... 5
LG INDIA ................................................................................................................................. 6
Introduction ........................................................................................................................... 6
Indian Division ...................................................................................................................... 6
LG India Products ................................................................................................................. 7
LG India AIR-Conditioning Business .................................................................................. 7
Marketing and Promotions ................................................................................................... 8
Sales and Distribution Network ............................................................................................ 8
CRM Initiatives ..................................................................................................................... 8
LG Brands Chart .................................................................................................................. 9
SAMSUNG ELECTRONICS CO. LTD................................................................................. 10
Window AC: ........................................................................................................................ 11
Split Air conditioner ............................................................................................................ 12
Voltas ....................................................................................................................................... 14
Voltas±Leading AC player with niche engineering ............................................................ 15
Window AC¶s available in Voltas ....................................................................................... 16
Split AC¶s available in Voltas ............................................................................................. 18
Market Shares of Different Air Conditioning Companies .................................................... 20
FY 02 ....................................................................................................................................... 22
FY 03 ....................................................................................................................................... 22
FY 04 ....................................................................................................................................... 23
FY 05 ....................................................................................................................................... 24

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FY 06 ....................................................................................................................................... 25
FY07 ........................................................................................................................................ 26
FY 08 ....................................................................................................................................... 27
FY09 ........................................................................................................................................ 28
Further Studies That Needs to be done .................................................................................. 29
References ............................................................................................................................... 30

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Brief Introduction of the Industry:
c Before the liberalization of the Indian economy, only a few companies like Kelvinator,
Godrej, National and Voltas were the major players in the consumer durables market,
accounting for no less than 90% of the market. Post- liberalization, foreign players like
LG, Sony, Samsung, Hitachi, Carrier, Whirlpool, Videocon came into the picture. Today,
these players control the major share of the consumer durables market.

c Consumer durables market in India was growing at a rate of 10-15% in 2007-2008 and is
expected to grow at a rate of 25-30% in 2009-2010.1The reason for this rapid growth is
listed below:

AIR CONDITIONER SCENARIO IN INDIA:

c The Air conditioner industry in India has been growing at a very high rate during the past
decade the reason for the same being rapid urbanization and rising income levels of
people. AC is no more a luxury product in India, also with the availability of easy finance
schemes it has become an affordable luxury.
c The Air-conditioner industry is divided into ducted and non-ducted products. The
demand for non-ducted products like splits and window ACs comes from both

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 households and corporate. Corporate traditionally accounted for about 60% of the total
demand, but there has also been a rise in the household demand for air conditioner in the
past few years.

Graph representing the growth of Air conditioner Industry:-

The graph above shows the growth of the Air-conditioner industry in terms of sales from 2005-
2012.
c The air conditioning & refrigeration industry is on a high growth trajectory with an
overall growth rate of 25% per annum.
c The total turnover of the Window & split ACs in 2009 has been 4.6×1010 Rs (23lakh
units ×20,000Rs).
c Production of window air conditioners has reported a 32% increase in 2009 from the
previous year. Also the window air conditioner segment is projected to grow at 25% &
split AC¶s at 60%.
c Traditionally there were only a few brands which were ruling the AC market in India,
today there are around 26 brands which are competing with each other to capture a
substantive market share in the Indian market.

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MAJOR PLAYERS IN THE AC MARKET (WINDOW AND SPLIT AC¶s)

The pyramid represents the Market players catering to all the 3 segments

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Segmentation of AC market

The AC market in India is segmented in three types:

1c Entry Tier- This has the largest number of AC consumers in it. It covers almost 66% of
the AC market. This tier comprises of companies who have priced their AC¶s at a very
affordable rate. This segment comprises of companies such as LG,Samsung,Voltas,
Onida etc. Since the pricing of these companies¶ basic models is quite low it also attracts
the users of Air Coolers to switch over to Air Conditioners.
2c Mid Tier- This segment covers 25% of the AC market. The pricing of the basic models of
the companies available in this segment is slightly higher than the entry tier companies.
Companies such as Blue Star, Hitachi, Carrier fall into this category.
3c Higher Tier-The market size in this segment is the smallest. They cover just 9% of the
total Air Conditioning market share. Due to their high pricing they are not very
preference by the common audience. Daikin, Mitsubshi, Toshiba make up this segment.

Market structure for Air conditioning industry:

c The air conditioner industry in India has become highly competitive; the market has
become highly price sensitive, since the product has now become a need than a luxury.
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 c The price elasticity of demand is high because even a small rise in price shifts the
customers towards other players in the market.
c Thus with more options available in the market & customers being more aware about the
products, the company must price its products very cautiously in order to avoid price war
from competitors as well as capture better market share.

Project Details:
In this project we will be dealing with the entry tier companies which hold 66% of the total
market share.
LG will be the main company of our study but we will not restrict ourselves to just LG but a
comparative study will be done between LG, Voltas and Samsung. Each company¶s market share
will be evaluated along with their growth rates. Also their product specification and pricing will
be dealt with in this project.
The domestic air conditioners have been made the subject of our study. These include Split and
Window AC¶s.
Apart from this the total market size evolution in last 3 years and the growth rates have also been
studied. Segment size dynamics (in terms of market share in those segments held by each brand)
and segment specific growth/decline rates are also shown.
We could not include brand specific share in the project because for the lack of information
available. There was no information on ³which company¶s which brand sells how much´ on
either on a particular company¶s website or any other website.

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 LG INDIA

Introduction:

LG (Lucky-Golstar) Electronics, Inc. (LGE) was one of the five largest ³Chaebols´2 in South
Korea primarily known for its low-cost appliances had more than 72,000 employees working in
about 77 subsidiaries and marketing units across the world. LGE is comprised of four SBU¶s:
Mobile Communications, Digital Appliance, Digital Display and Digital Media with total
revenue of more than US$ 35 billion (consolidated US$ 45 billion). LG Electronics Inc. is
targeting a 10 per cent increase in air conditioner sales in 2010. The global commercial air
conditioner market is worth $25 billion, and the market for central air conditioning and heating
systems is valued at $12 billion. It is estimates that the household air conditioner market is at
$26.5 billion. LG is also planning to beef up its air conditioning related solution and home
network business, a $24 billion market

Indian Division:
Established in 1997, LG Electronics India (LGEI) is a wholly-owned subsidiary of LG
Electronics, South Korea. It is one of the leading companies in consumer electronics, home
appliances and computer peripherals in India. It has a turnover of almost US$ 1000 million in
India. LGEI¶s sales are increasing with a CAGR of 30 per cent over the past five years. LG-India
now contributes 6 per cent to the global turnover of LG ($44 billion), and the India arm will aim
to double this by 2015. It is believed that the consumer durables industry in India will grow by
20% every year and to capitalize on this growth LG Electronics India is ready to invest $300
million over the next three years and foray into new product categories. LG also plans to raise
turnover from Indian operations to over $9 billion (Rs 45,000 crore) by 2015. LG India is likely
to close this year with a turnover of Rs 19,000 crore by 20103. The firm is bullish as it has
achieved more than 30% growth in the first half of 2010.

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cChaebols were the family run conglomerates with a lot of money. These Chaebols promote cross-ownership amongst the
various companies in a chaebol.
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LG India Products:
LG Electronic India deals in many products in different segments:
c Air Conditioners
c §lat panel Displays GSM
c IT Products
c Microwave Oven
c Refrigerators
c Television
c Vacuum Cleaners
c Washing machines
c Mobile Phones

LG India AIR-Conditioning Business:

LGEI has a market share of 28 %4 in AC segment and the company is aiming to achieve a
market share of 30%5 in Home-segment Ac¶s by end of 2010.The company has also recorded 85
per cent value growth in commercial air-conditioners.cLG registered a turnover of Rs 1,600 crore
in the AC segment in 2009 and the company is targeting a turnover of Rs 2,500 crore in 2010
with growth of more than 50 per cent compared to 2009.
LG is offering 43 Split & 19 window RAC models available in 5 series - Maestro, Glory, Icon
Vogue & Crescent with distinctive add-on features. These AC¶s are 100% star rated energy
efficient series consuming 32% less energy.
LG Electronics India aims to graduate the rural customer from coolers to ACs, is aiming to
double its rural AC sales to Rs 500 crore in the next two years, LG¶s rural sales are less than 10
per cent for ACs now but by 2012 we expect this to become a competitive 20 % 6to its overall
turnover this is because the company is betting big on its sub-Rs 10,000 AC in the rural markets

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which competes with high-end coolers from companies and company is hopeful that ACs will
soon replace air-coolers in rural markets.

Marketing and Promotions:

LG seemed to have put more emphasis on promotion and advertising. LGE embraced the
philosophy of ³Great Company, Great People,´ and pursued two growth strategies which
involved ³fast innovation´ and ³fast growth´ to secure global competitiveness. The company
sought to secure three core capabilities ± product leadership, market leadership, and people-
centered leadership. The company has launched ³Blue Ocean Management´ campaign in 2006 to
be one among the top 3 Electronic, Information and Technology firms in the world by 2010.
Unlike many Indian brands which advertised seasonally, LG advertised all round the year. LG
the company is investing Rs 750 crore in above and below the line advertising this year and has
taken innovative marketing and promotional initiatives.

Sales and Distribution Network:

LG has the widest distribution network across the country and has 70 remote-area offices, which
are extensions of the branch office, 51 branches and eight regional offices all over the country.
The company has 500-plus active regional distributors, 4,000-plus active resellers, 175 area
offices and over 10,000 trade partners. In the next three years, the company will invest $300
million in India, primarily in product development and assembly line. It has also chalked a roll-
out plan to launch 100 exclusive air-conditioning solution plazas.

CRM Initiatives:
LG has developed a CRM program called the 'Diamond Club' to drive the sales of premium
products. Sustaining one market price in all stores, maintaining a price gap with main
competitors to retain a premium image, unique promotions for target customers and well-trained
customer care executives are features of this channel initiative. Customers are assured that they
can buy the product of their choice from any part of the country and will get prompt after-sales
service also. The company keeps minute care of the channel partners, including timely scheme
settlement, thin inventory holding for lowest warranty liability, quick rotation of stocks, etc. On

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the consumer front, the value additions are in the form of optimally configured PCs, extended
warranty, superior performance, excellent after-sales service, etc.

LG Brands Chart:

Cooling
S.No. Name Of Brand Attributes Type Of Ac Price
Capacity
3G Cyclotron Plasma
filter; 1.5 ton Split Air Rs. 27,000
1) Maestro Series
Allergy Care System; conditioner
Anti-rust condenser 2 ton Rs. 47,000

§loral Panel Design; 1 ton Rs. 20,000

Split Air
2) Glory Series Dual Display; 1.5 ton Rs. 27,000
conditioner
Neo plasma filter 2 ton Rs. 47,000
Window Air Rs. 18, 000 -
§loral pattern; 1.5 & 2 ton
conditioner Rs. 22,000
3) Vogue Series Big display;
1, 1.5 & 2 Split Air Rs. 20,000 ±
Aero Comfort system
ton conditioner Rs. 27, 000
.75, 1, 1.5 & Window Air Rs. 15,000 ±
Jet Cool feature;
2 ton conditioner Rs. 22, 000
4) Crescent Series Anti Bacterial filter;
1, 1.5 & 2 Split Air Rs. 19,400 ±
ton conditioner Rs. 49, 000
§lat Panel; 1, 1.5 & 2 Window Air Rs. 14,000 ±
Anti Bacteria §ilter; ton conditioner Rs. 22, 000
5) Icon Series
Anti rust condenser; 0.75,1, 1.5 Split Air Rs. 15,000 ±
Jet Cool & 2 ton conditioner Rs. 49, 000

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 SAMSUNG ELECTRONICS CO. LTD.

Introduction
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Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital
media and digital convergence technologies with 2008 consolidated sales of US$96 billion.
Employing approximately 164,600 people in 179 offices across 61 countries, the company
consists of seven independently operated business units: Visual Display, Mobile
Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Semiconductor
and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a
leading producer of digital TVs, memory chips, mobile phones and T§T-LCDs.

As stated in its new motto, Samsung Electronics' vision for the new decade is, "Inspire the
World, Create the §uture."

This new vision reflects Samsung Electronics¶ commitment to inspiring its communities by
leveraging Samsung's three key strengths: ³New Technology,´ ³Innovative Products,´ and
³Creative Solutions.´ -- and to promoting new value for Samsung's core networks -- Industry,
Partners, and Employees. Through these efforts, Samsung hopes to contribute to a better world
and a richer experience for all.

Samsung has mapped out a specific plan of reaching $400 billion in revenue and becoming one
of the world¶s top five brands by 2020. To this end, Samsung has also established three strategic
approaches in its management: ³Creativity,´ ³Partnership,´ and ³Talent.´

Samsung is excited about the future. As we build on our previous accomplishments, we look
forward to exploring new territories, including health, medicine, and biotechnology. Samsung is

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committed to being a creative leader in new markets and becoming a truly No. 1 business going
forward.7

Geographical coverage (AC) ± Samsung is present in all town and cities with population above
50000.

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Samsung Airconditioners8-The simplest and most effective way to stay cool during hot summer
Samsung offers the perfect solution with its new bio sleep plus air conditioners especially
developed for Indian conditions.

Window AC:
Samsung Window Air Conditioners bring a cool, refreshing wave into your home and make
everyday living a delightful and rejuvenating. Company currently offers 9 products under this
category within 0.8T to 2.0t capacities and price ranged from Rs. 16790 to Rs. 23590. Additional
features such as Smart Saver, Biosleep and Comfort Care ensure that your environment stays at
the most comfortable temperature with the usage of the least amount of energy, enabling over
30% reduction in the electricity bills. While the entire Samsung AC range is Star rated, eight of
the newly launched models have a 5 Star rating. The 2010 S series Samsung Air-conditioners are
available in five exciting colors ± Black, Chocolate Brown, Cherry wine, copper gold and pearl
white. The Company aims to sell a total of one million ACs this year, thereby garnering a market
share of over 30 % for 2010. Samsung India notch up a 20% market share in the Indian market
for year 20099.

Name of Brand Attributes Cooling Capacity Type of AC Price

Biosleep 1 ton Window AC 1- 16,790-
Samsung Z Energy saver 1.5 ton star ,2-star 20,490
series Bio §ilter Power

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Split Air conditioner:

As the Air Conditioner is a large part of interior, Samsung provides with a variety of air
conditioners with stylish, sophisticated design, while paying attention to high performance and
healthy freshness in everyday living. Samsung has set up a new production line for Split ACs at
its NOIDA facility. Which has the production capacity of 0.6 million units per annum,
commenced production this week. The Company had begun manufacturing Split ACs at its
Sriperumbudur facility in November 2009. The Sriperumbudur AC line also has a capacity of 0.6
million units per annum. Thus, Samsung India now has a total production capacity of 1.2 million
units per annum for Split Air conditioners across its NOIDA and Sriperumbudur facilities.
NOIDA unit caters to the AC market of the North and East, the Sriperumbudur facility caters to
the West and South markets. Samsung launched its S series ACs, incorporated with the world¶s
first S-UTRTM compressor, designed to provide stable operation during voltage fluctuations or
the highest temperature. In fact, the S Series ACs is stabilizer free, thus saving on space. Also
Samsung¶s S-UTR compressor has enhanced the capability of the protector to endure unstable
electrical condition and improve the overall efficiency, so that the user can have fresh, cool air in
any condition.
Aesthetically, the S series is ideal for your ultra modern lifestyle. The Touch of Color (ToC)
feature presents a colorfully vibrant front panel, while the AC¶s gently rounded edges, makes it
perfect for any contemporary décor. §urthermore, harmful substances in the air including
microscopic viruses and unpleasant odors are eliminated with Samsung¶s Anti-virus and unique

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catching and deodorizing twin filters. Split ac range offers total of 32 products in this segment
with capacities of 0.8T to 2.0T with price ranged between Rs. 16490 to Rs. 35490.

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 Voltas

Introduction:

Voltas is one of the world's premier engineering solutions providers and project
specialists. §ounded in India in 1954, Voltas Limited offers engineering solutions for a wide
spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration,
electro-mechanical projects, textile machinery, mining and construction equipment, materials
handling equipment, water management & treatment, cold chain solutions, building management
systems, and indoor air quality.

The Company's strengths lie principally in

‡ management and execution of electro-mechanical projects, including air
conditioning and refrigeration
‡ the design and manufacture of industrial equipment, cooling appliances and materials
handling equipment
‡ sourcing, installation and servicing of diverse technology-based systems serving Indian
industry through representation of global technology leaders

Voltas Limited is a premiere Air Conditioning provider in India. Voltas AC spells quality at both
designing and manufacturing levels. One of the leaders in both domestic and industrial Air
Conditioning, Voltas Ltd., also undertakes management as well as execution of Air Conditioning
of major projects. Voltas Air Conditioners in India come with the reliability of a global
technology leader with state-of-the-art sourcing, installation and servicing solutions.

Voltas Air Conditioner in India is available as room or split Air Conditioners for domestic use
and industrial Air Conditioning units. The Voltas Air Conditioner prices take you by a surprise
with their sheer affordability. The 'manufacture only' alliance of Voltas Air Conditioners India
Ltd. with §edders International, USA have resulted in high quality but low cost Voltas Room Air
Conditioners.

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Voltas Air Conditioner models vary in tonnage, size and features. An entire range of Voltas ACs
to choose from, the marketing and sales is divided through the Voltas AC dealers spread across
the country. The head office in Mumbai is networked to the Zonal Offices in Mumbai, Kolkata,
and New Delhi & Chennai. Besides, it has a strong network of authorized distributors and
service centers throughout the country.


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Voltas±Leading AC player with niche engineering:

Voltas (CMP Rs) is a direct play in niche engineering, consumer durables and a surrogate play
on the basic industries of the Indian economy. Voltas captures the various facets of the Indian
economy in sectors ranging from real estate (commercial and residential), retail, construction,
infrastructure, mining etc.
The company operates in broadly three verticals. Each of these verticals is perfectly scalable
with very little incremental capex. In fact the company¶s annual capex requirement is around Rs
50 -70 crores against a operating profit of more than Rs 400 crores (§y09). Most of the work in
these business segments is either outsourced or the equipments taken on rent as the case may
be. Maybe because of these facets of the business model the company is able to report a very
high RoCE of close to 70% and back it up with stupendous cash flows from diversified
businesses.
Voltas had a market share of 17% in 2008 in the Room Air conditioner market and then
increased to 20% in §y09 through a 50% growth in this product line. While the AC industry is
growing at 25% Split ACs as a segment is growing faster at close to 50% and Voltas is focusing
on this segment. It intends to increase dealer networks and provide advertising support. The
Company was the first to introduce the concept of Star rated ACs and intends to capitalize on the
concept of ³lower energy bills´ as part of a sales push theme. The AC market penetration stands
at a mere 1% in India compared to very high penetration levels across comparable economies.
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Window AC¶s available in Voltas:

VERTIS CLASSIC WINDOW AC

EASY TO CLEAN PANEL: Easily removable front panel for convenience in cleaning.

AUTO-RESTART §UNCTION: In case of a power failure, the air conditioner automatically restores the previous
function settings.

INNER-GROOVED COPPER TUBES: They allow adequate refrigerant flow and improve heat exchange efficiency.

SLEEP MODE §UNCTION : This function enables the AC to automatically increase or decrease 1degree C per hour
for the first two hours, then holds steady for the next 5 hours, after that the unit will stop its operation. This maintains
a comfortable temperature and saves energy.

ANTI-DUST §ILTER : The dust filter can catch small dust particles and can be cleaned easily.

Available in 1.5 T WAC & 2 T WAC.Price:Rs.16,990-22,990

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VERTIS PLATINA WINDOW AC:

§RESH AIR SWITCH: When ACs run for a longer period, the oxygen level in the air goes down. The fresh air
switch allows fresh air to enter the room. This maintains the required oxygen level in the air.

EASY TO CLEAN PANEL: Easily removable front panel for convenience in cleaning.

NIGHT GLOW BUTTONS ON REMOTE: Allows you to locate and operate the remote even when its dark.

AUTO-RESTART §UNCTION: In case of a power failure, the air conditioner automatically restores the previous
function settings.

INNER-GROOVED COPPER TUBES: They allow adequate refrigerant flow and improve heat exchange efficiency.

ANTI-DUST §ILTER: The dust filter can catch small dust particles and can be cleaned easily.

§ILTER CLEAN INDICATOR

ENERGY SAVER MODE

Available in 1 T WAC & 1.5 T WAC.Price-Rs.17,990-22,990

VERTIS PREMIUM WINDOW AC

§RESH AIR SWITCH: WHEN ACS RUN §OR A LONGER PERIOD, THE OXYGEN LEVEL IN THE AIR GOES
DOWN. THE §RESH AIR SWITCH ALLOWS §RESH AIR TO ENTER THE ROOM. THIS MAINTAINS THE
REQUIRED OXYGEN LEVEL IN THE AIR.
EASY TO CLEAN PANEL: EASILY REMOVABLE §RONT PANEL §OR CONVENIENCE IN
CLEANING.
AUTO-RESTART §UNCTION: IN CASE O§ A POWER §AILURE, THE AIR CONDITIONER
AUTOMATICALLY RESTORES THE PREVIOUS §UNCTION SETTINGS.
INNER-GROOVED COPPER TUBES: THEY ALLOW ADEQUATE RE§RIGERANT §LOW AND
IMPROVE HEAT EXCHANGE E§§ICIENCY.
LARGEST AND ADVANCED LED DISPLAY ON INDOOR UNIT §OR §UNCTIONS: MAKES IT EASY
TO ASCERTAIN THE §UNCTIONS IN USE.
TURBO MODE: ENSURES INSTANT COOLING AT THE TOUCH O§ A SINGLE BUTTON.
SLEEP MODE §UNCTION : THIS §UNCTION ENABLES THE AC TO AUTOMATICALLY INCREASE
OR DECREASE 1DEGREE C PER HOUR §OR THE §IRST TWO HOURS, THEN HOLDS STEADY §OR
THE NEXT 5 HOURS, A§TER THAT THE UNIT WILL STOP ITS OPERATION. THIS MAINTAINS A
COM§ORTABLE TEMPERATURE AND SAVES ENERGY.
ANTI-DUST §ILTER: THE DUST §ILTER CAN CATCH SMALL DUST PARTICLES AND CAN BE
CLEANED EASILY.
LOW VOLTAGE START UP
Available in 0.7 T SAC, 1.0 T WAC, 1.5 T WAC. Price- Rs.12,990-17,990

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Split AC¶s available in Voltas:

VERTIS CLASSIC SPLIT AC:

LCD REMOTE WITH INTELLIGENT §UNCTIONS: Elegant and feature packed remote with large
LCD display, performs intelligent functions like Cool/§an/Dry/Auto mode, Sleep mode & On/Off
Timer.
AUTO-RESTART §UNCTION: In case of a power failure, the air conditioner automatically restores the previous
function settings.
INNER-GROOVED COPPER TUBES: They allow adequate refrigerant flow and improve heat exchange
efficiency.
HYDROPHILIC COATED ALUMINUM §OIL: §itted in the indoor unit, this water contamination free foil
enhances the heat-exchange efficiency.
ACTIVE CARBON §ILTER: Easily removable front panel for convenience in cleaning.
SLEEP MODE §UNCTION : This function enables the AC to automatically increase or decrease 1degree C per
hour for the first two hours, then holds steady for the next 5 hours, after that the unit will stop its operation. This
maintains a comfortable temperature and saves energy.
ANTI-DUST §ILTER : The dust filter can catch small dust particles and can be cleaned easily.
Available in 1.0, 1.5 & 2 T SAC. Price-Rs.20,490-27,490

VERTIS PLUS G SPLIT AC:

LCD REMOTE WITH INTELLIGENT §UNCTIONS: Elegant and feature packed remote with large LCD display,
performs intelligent functions like Cool/§an/Dry/Auto mode, Sleep mode & On/Off Timer.
AUTO-RESTART §UNCTION: In case of a power failure, the air conditioner automatically restores the previous
function settings.
INNER-GROOVED COPPER TUBES: They allow adequate refrigerant flow and improve heat exchange
efficiency.
ACTIVE CARBON §ILTER: Easily removable front panel for convenience in cleaning.
SLEEP MODE §UNCTION : This function enables the AC to automatically increase or decrease 1degree C per
hour for the first two hours, then holds steady for the next 5 hours, after that the unit will stop its operation. This
maintains a comfortable temperature and saves energy.
ANTI-DUST §ILTER: The dust filter can catch small dust particles and can be cleaned easily.
CLEAN WARNING: After using the air conditioner for a long time, the filter inside get dry and polluted with
dust, house mites, bacteria etc. The clean warning function can automatically give you a signal to clean the filters
when they get dirty and polluted.
NANO SILVER §ILTER: Nano silver filter can destroy the cellflim of bacterium or strongly absorb the SH
group of the protein in bacterium which makes the killing rate higher than 99%.
GOLDEN HYDROPHYLIC ALUMINIUM COIL: Golden Hydrophilic Aluminium.
CHAMPAGNE COLOR ACRYLIC §RONT PANEL: CHAMPAGNE color Acrylic §ront Panel.
Available in 1.0,1.5,2.0 T SAC. Price-Rs.23,990

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VERTIS PREMIUM SPLIT AC:

AUTO-RESTART §UNCTION: In case of a power failure, the air conditioner automatically restores
the previous function settings.
INNER-GROOVED COPPER TUBES: They allow adequate refrigerant flow and improve heat exchange
efficiency.
HYDROPHILIC COATED ALUMINUM §OIL: §itted in the indoor unit, this water contamination free foil
enhances the heat-exchange efficiency.
TURBO MODE: Ensures instant cooling at the touch of a single button.
SLEEP MODE §UNCTION : This function enables the AC to automatically increase or decrease 1degree C per
hour for the first two hours, then holds steady for the next 5 hours, after that the unit will stop its operation. This
maintains a comfortable temperature and saves energy.
ANTI-DUST §ILTER: The dust filter can catch small dust particles and can be cleaned easily.
WHITE COLOR PANEL
BLOW §OR ANTI §UNGI & MOLD §ORMING
DUAL §UNCTION TEMP DISPLAY
CROSS §LOW VANE §OR LESS NOISE
Available in 0.75,1.0,1.5,2.0 T SAC. Price-Rs.15990-29,490
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FY 02
‡c The Indian AC market size was Rs 2,790 crore comprising the household and
commercial segments. The market was at a nascent stage and shows tremendous
promise to grow. However, despite the reasonable growth in the last few years,
the growth potential has not been entirely captured.

‡c The key bottleneck to growth is the low affordability of ACs. This is clearly
evidenced in the Chinese market where substantially low price points (less than
50% of Indian retail prices) have driven penetration of ACs.

‡c In order to capture the growth potential, a substantial reduction in price is

required. The primary cause for the high prices is the high incidence of indirect
taxes, excise duties and import duties on the product category: accounting for
close to 45% of the MRP. In particular, the abnormally high excise duty of 32% is
a major deterrent to growth.

‡c With government support in duty and tax rationalization, the AC market can grow
very rapidly over the next 5 years to as much as Rs. 14,000 crores by 2007.
Reducing excise duties, indirect taxes and import duties is a win-win-win solution
for the government, players and consumers.

‡c The specific short term proposals include:

±c A reduction in excise duty from 32% to 16% with 40% abatement

beginning March µ03

±c Excise exemption in certain states such as Jammu, North East to be

repealed as they destroy value for government, players and consumers and
confer none of the intended benefits to the system

±c A reduction of import duty to 25% for finished goods and 15% for
components beginning Mar-03

LG occupied a market share of 15.2% compare to 10.6% of Voltas and 6.8% of Samsung. The
combined share of these three companies was less than 33%.

FY 0313
There was slowdown in the air conditioning market. The last year's market growth had dipped to
4.5 per cent from a steady upward surge of about 15 per cent witnessed in previous years. There
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were new entrants in the market such as Whirpool India, the market leader in refrigerators, was
targeting a 10 per cent market share in the Indian air conditioner market by the end of that year.
Whirlpool had set aside Rs. 6 crore for its advertising blitz on air conditioners, to tide over the
slump in market growth. The company was also hopeful that the ad blitz will would drive sales
this summer, during which 35 per cent of yearly sales are registered. It had ambitions to overtake
Carrier and LG which were the undisputed leaders in the air conditioner segment.

The market share of LG in this year was 23.5% that of Voltas was 12.1% and 6.5% for Samsung.

FY 04

Indian Air-Conditioner Market is Hot14

Keeping consumers cool in what is turning out to be one of the hottest summers in recent
times is no child¶s play.

But air-conditioner companies are confident that the hot weather will lead to some cool profits.
Traditionally, air-conditioners have been considered to be ³luxury´ appliances, and therefore, the
demand for air-conditioners have either come from the institutional segment or from affluent
homes in the top metropolitan cities of India. That¶s no longer the case. While easy finance
options have made air-conditioners more affordable, companies are also going that extra mile to
make air-conditioners a ³must-have´ appliance in more and more middle class India homes.

Price cuts as a strategy to increase sales volumes is definitely in the cards of appliance
companies. Voltas India Ltd. became the first player in the air-conditioner market to offer
consumers an air-conditioner in the Rs 10,000 (approx. U.S. $220) price range. Keen on roping
in the first-time air-conditioner buyer, Voltas has launched two models²a 0.6-ton air-
conditioner priced at Rs 9,990 (approx. $218) and a 0.8-ton model at Rs 11,000 (approx. $242).
§or a 0.8-ton air-conditioner with a remote control, a buyer would have to shell out an additional
Rs 1,000 (approx. $22). These models are ideal for families who live in the ³chawls´ (tenements)
and small-size flats of Mumbai, where the average room size can be 70 to 100 sq ft. Since the
peak temperature in the cities of western and southern India hovers around 35°C, the sub 1-ton
air-conditioners would be more than adequate in terms of cooling power. Clearly the company is
not hoping to garner huge margins from the sales of these air-conditioners but is looking at
growing sales volumes.

Growing sales volume is crucial for air-conditioner companies. During the last 4 years, the cost
of inputs²including steel and plastics²have been rising steadily while competition too has
become intense. This has led to a squeeze on margins. On the positive side, a reduction in excise
duties has helped the air-conditioner market to grow rapidly. Last year, the air-conditioner
market grew by 15 percent, and this year companies are confident that market growth will
register an increase of nearly 25 to 30 percent from last year. While the key players in the
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popular segment of the air-conditioner market are LG, Voltas, Carrier, and Samsung, the
premium segment is dominated by Japanese brands such as Hitachi, Daikin, and National.

One Japanese brand that is still trying to make its mark is Mitsubishi, which entered into an
exclusive arrangement with the Mumbai-based Nova Industries to sell its products in India.
However, Mitsubishi is now reinforcing its marketing and distribution strategies and is
introducing new models in the 300,000 split air-conditioners segment. Though this segment is
small, it is currently growing at almost 30 percent per year compared to the 15-percent growth
rate in the window air-conditioners segment. Mitsubishi is also planning to aggressively sell its
window air-conditioner models, which are priced between Rs 32,000 and Rs 70,000 (approx.
$704 and $1,541).

The spurt in sales of air-conditioners has led to a rush of launches in the premium segment as
well. Not surprising, as the high-end air-conditioner segment comprises nearly 12 percent of the
total market. Companies feel product differentiation and innovative features will be key to
selling premium air-conditioner brands. LG has launched a premium brand of window air-
conditioners, Whisen, for Rs 45,000 (approx. $991). To set the air-conditioner to any
temperature, you can place a phone call to the landline that is connected to the appliance and set
the temperature after using an access password. Innovative features such as these are being
launched by other air-conditioner manufacturers as well. Samsung¶s Hurricane promises to
reduce the presence of fungi and bacteria in the room within 5 min of operation, while LG is
planning to introduce a model that will help clear the room of cigarette smoke.

So even as the outside temperatures soar to 45°C this summer, a wider choice of air-
conditioners²both in terms of product features and price range²will help consumers keep their
cool indoors.

FY 05

VRF Technology Set up to Stir Up Indian Commercial Air-Conditioner Industry15

With the commercial construction and real estate sectors on a high, the Indian commercial air
conditioner (AC) industry is waking up to technology that¶s pretty much standard in the rest of
the world.

The technology (called variable refrigerant flow or VR§), invented by Daikin of Japan, is now
being developed in India by large and established players including LG, Voltas and Blue Star.
While, LG plans to launch ACs with VR§ later this month, Voltas will launch its range in July,
and Blue Star will start making them before the year is out. The other VR§ players in India
include Daikin Shriram, Carrier and Mitsubishi, though all three import. The VR§ space,
currently sized at about 10,000 tons a year, makes up only 5 per cent of the total commercial AC
market, though industry analysts say it could grow to 10 per cent next year.

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Blue Star, which currently imports and sells Sanyo VR§ units in India, plans to manufacture its
own VR§ ACs this year, and will position its products competitively against imported ones. The
company¶s executive director TGS Babu told §E: ³Last year, VR§ systems accounted for less
than 15,000 tons of 5 lakh ton total commercial AC market. Next year, VR§ ACs may grow 60
per cent to make up 25,000 units of the market´.

Voltas general manager (sales) KD Virmani said: ³We are developing the technology currently
and will launch in July.´

In VR§ technology, each room or space in a commercial building or complex has a temperature
sensor, which is calibrated to judge the cooling requirement of the space depending on the
number of people in it. This information is sent to an electronic valve located in the room, which
then relays the information to a central outdoor unit and consequently changes flow of
refrigerant, therefore reducing or increasing cooling.

Daikin ² the only player in the country with VRV (Daikin¶s trademark name for VR§) in all
capacities (4-42 ton) ² claims a whopping market share of about 70 per cent. The company¶s
VR§ corporate head Sanjay Goyal said: ³We¶ve just launched more units a few months ago. We
command a large market share of about 70 per cent, and are continuing to develop more.´ LG
Electronics India will launch two outdoor VR§ units (4 and 8.5 ton) this month. The units can be
integrated with indoor units, of which LG¶s commercial AC division has a full capacity range.

LG, Voltas and Samsung hold 32.7,13.5 and 9.7% of the market share respectively.

FY 0616
The Indian air-conditioning and refrigeration industry sector has recorded an impressive growth
during the past year. Information Technology, IT enabled services, hospitals, hotels, and new
airports continue to support the growth of the air-conditioning demand. Multinational firms
including LG, Samsung, and Hitachi are already present in the country either directly or through
their Indian partners. A combination of quality, price, and after sales support are the key
competitive factors in this market. The Government of India¶s import policy allows imports of
air conditioning equipment, components, spares and supplies. U.S. manufacturers and exporters
are advised to identify competent Indian agents and distributors to sell their products in India.


 



 

 

Based on the industry association, the HVAC market recorded a positive growth during 2005-06
compared to the previous year. Room air conditioners (window and split) reached $445 million
from the previous year¶s $311 million, central A/C reached $267 million from $222 million,
ducted split and packaged a/c $117 from $89 million, and commercial and industrial $212
million from the previous year¶s $189 million.
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The room air conditioner segment of the HVAC industry has been growing at a rate of
approximately 20% driven by the growth of the residential sector. Lower prices, availability of
easy finance, higher disposable income and the urge for better living has all combined to support
this growth. An estimated 150-200 million middle-income group with high levels of disposable
income seek convenience and comfort. These groups are the major supporters of the air-
conditioning systems among the retail demand.
The central air-conditioning and ducted splits market segment is growing at a lower rate of
approximately 10% driven by commercial segments such as retail sector, software, healthcare,
hospitality, entertainment, telecom and banking.
With the exponential growth of the Indian IT and ITES sectors, the demand for office space
conditioners to outpace the supply. According to industry estimate, the Indian IT/ITES segment
alone will create 5 million new jobs by 2012, requiring office space. These large IT parks and
office buildings are air-conditioned contributing to the growth of this segment. Indian firms are
establishing new hotels and existing hotels are expanding capacities to meet the growing demand
for the business travelers and tourists. According to published information, India needs an
additional 60,000 hotel rooms in the next three to 4 years to meet the demand. These hotel
projects are another supporter of the growth.
Retail segment is expanding rapidly in India. Retail landscape is expected to change completely
in the next three to five years. §or example, Reliance Group, a major business major group in
India, has plans to establish hypermarket, discount stores, super markets in the country with an
estimated investment of $750 million. Several other Indian firms are also planning to enter the
retail sector aggressively. These developments are expected to contribute to the growth of the
HVAC demand in the country.
Currently, there are eight players in the organized market, together sharing 42 percent of total
sales. All these organized ventures maintain technical tie-ups with Japanese or U.S. firms. LG
and Samsung tops the windows and splits segment, and Blue Star, an Indian company, is leading
the central air conditioning segment. New players like Symphony and Polar have also entered the
market.

LG by the end of §Y 06 had a market share of 37% while Voltas and Samsung had 16 and 20%
respectively.

FY0717

Ever since, life hasn't been the same. The air-conditioner market is heating up as more and more
people appear to be convinced about the comfort of an air conditioner (AC). The extremely hot
summers have stirred the demand for ACs and the industry is experiencing a significant change.
Growth in the white goods segment was largely driven by the Air-conditioner (AC) segment.
Within this, split ACs have been the main growth drivers, recording a growth of over 90 per cent
In 2006. Growth, albeit at a slower rate of 32 per cent, has also been experienced in the segment
of window ACs. The window AC segment is slightly less organized as compared to split AC
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cSource: CMIE, Industry Market Size and Share, April 2009

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segment. The market for air-conditioners is divided quite uniformly across customer segments,
with about 45 per cent share for private sector corporate, 20 per cent for domestic use, 15 per
cent each for public sector companies and government use and 5 per cent for hospitals. Air
Conditioners generally refer to Room Air Conditioners as distinct from Central Air Conditioning
Plants. Room Air Conditioners market is segmented into Window AC (WAC) and Split AC.
Now with the limitation of space and scarce availability of window space and also to reduce the
noise in a room, the Split AC is gaining popularity.

Also split AC has come into prominence due to export orders from abroad. Technologically the
Indian Window Air Conditioner Industry has come a long way and is now at par with
international level. Import of capital goods for the manufacture of non-C§C refrigerator and air
conditioners are allowed duty free.

Penetration in India and Competing Countries

According to Refrigeration and Air-conditioning Manufacturing Association (RAMA) the

penetration of household Air-Conditioners is abysmally low in India at around 2% as compared
to 20% in Indonesia, 24% in China, 40% in Thailand, 45% in Malaysia.

Players and Market Share

The size of the room Air-conditioners industry is estimated at 1.1 million in volume terms, and
Rs 24 billion in value terms. According to §ICCI, Indian AC industry which is mainly dominated
by players like Carrier and Voltas has been taken over by the new MNCs in the last few years.
AC market is dominated by four major players²LG, Voltas, Carrier and Samsung. LG is the
market leader with a market share of 29 per cent followed by Voltas (11) and Carrier and
Samsung (9.2 each) in addition to other players like Hitachi and Videocon.

FY 0818

India has an increasingly affluent middle class population that, on the back of rapid economic
growth, has made the country¶s consumer electronics industry highly dynamic. The industry has
been witnessing significant growth in recent years due to several factors, such as retail boom,
growing disposable income and availability of easy finance schemes. But still, the consumer
electronics goods, like air conditioners, refrigerators, microwave and washing machines have
low penetration in the country, representing vast room for future growth. This is attracting many
foreign majors to the country, according to the new report ³Booming Consumer Electronics
Market in India´.
The report finds that since the penetration of several products like air conditioners and
refrigerators are reaching saturation in the urban areas, the markets for these products are shifting
to the semi-urban and rural areas.

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This analytical research thoroughly evaluates the Indian consumer electronics industry. It briefly
discusses about the current and emerging trends in the industry, underlining the future potential
areas and key issues crucial for the industry development.

Key Research Findings:

c Propelled by growing middle class population, changing lifestyle and rapid urbanization,
the Indian consumer electronics industry is forecasted to grow at a rapid rate of 10% to
12% in the coming few years.
c The AC market in India is projected to grow at 30% to 35% for the coming few years.
c Driven by young population, demand for MP3 players and digital video appliances are
anticipated to surge at double-digit rate in near future.
c The low penetration level of consumer electronics goods coupled with increasing
preference for comfort and luxurious goods are widely attracting the foreign as well as
domestic players to the industry.

FY0919
Household appliances industry will grow at 11 per cent CAGR to touch Rs 397 billion by 2013-
14.
The household appliances industry in India (comprising color televisions, refrigerators, washing
machines and room air conditioners) is expected to grow by 11-12 per cent from Rs 229 billion
in 2008-09 to touch Rs 397 billion by 2013-14.

Volume growth is expected to be driven primarily by factors such as increasing number of

households, rising household income, falling real product prices, shorter replacement cycles and
low rural penetration. Value growth on the other hand is expected to come largely from a
continuous shift in segmental mix in favor of high-end products. §urther, the introduction of
energy saving models at higher price points as compared to regular models are also expected to
increase average realizations across segments.

Given the relatively low penetration levels, future growth in the rural market is expected to
accrue from fresh sales while growth in the urban market will be derived predominantly from
product upgrades.

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cHousehold Appliances Annual Review January 2010 CRISIL LTDc

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Further Studies That Needs to be done

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1c Positioning

c §or the attributes chosen by us we need to perform a PROXCAL MDS procedure based
on similarities method.
c Report the output
c Comment on the present positioning of our company
c And, also find out possible entry points or repositioning points to improve market shares
using perceptual maps generated.

2c Conjoint Analysis Using Linmap

c The product profiles using the 3 attributes and 3 levels need to be constructed in such a
manner that there are 24 main cards and 3 holdout cards.
c We need to analyze the holdout data and % violations
c §ind out the relative importance for each of the attributes and levels using group utility
function of the software.
c We need to do segmentation and find out the clusters.
c And also run simulations trying out various combinations and arriving at an opinion at an
optimum situation in terms of market share

3c We need to prepare an overall managerial implication of the product done, as we would

report to our boss in the company in terms of the present product portfolio or possible
new products that can be launched based upon conjoint and MDS.

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References

http://www.indiahousing.com/voltas-air-conditioners.html

http://www.voltas.com/

http://www.voltasac.com/news-10.aspx

http://www.voltasac.com/air-conditioners.aspx

http://www.voltasac.com/Vertis-Classic-Window-AC.aspx

http://www.voltasac.com/vertis-platina-window-ac.aspx

http://www.voltasac.com/vertis-plus-window-ac.aspx

http://www.voltasac.com/vertis-premium-window-ac.aspx

http://www.theequitydesk.com/forum/forum_posts.asp?TID=1742

http://www.thehindubusinessline.com/2006/03/15/stories/2006031504190200.htm

http://www.scribd.com/doc/22349257/B2B-Carrier-AC

http://www.reportlinker.com/p098347/World-Air-Conditioning-Systems-Market.html

http://www.financialexpress.com/news/vrf-technology-set-to-stir-up-indian-commercial-
airconditioner-industry/102591/

http://www.samsung.com/in/aboutsamsung/corporateprofile/vision.html

http://www.samsung.com/in/consumer/home-appliances/air-
conditioner/index.idx?pagetype=type_p2&

http://www.samsung.com/in/news/newsRead.do?news_seq=15591&gltype=localnews

www.accessmylibrary.com

www.accessmylibrary.com

www.accessmylibrary.com

India Business Insight March 23, 2006

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§inancial express March 20, 2007

http://www.thehindubusinessline.com/2010/06/26/stories/2010062652430500.htm

http://www.business-standard.com/india/news/cool-your-summerslg-india%5Cs-new-rangeair-
conditioners/353376/.htm

http://www.mydigitalfc.com/gadgets/lg-bets-big-rural-sales-air-conditioners-937

http://www.financialexpress.com/news/lg-india-targets-rs-19-000crore-sales-this-
year/638601/.htm

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