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Market Size USD 4.3 Billion (2017) expected to grow by USD 11 Billion by 2023.
Growth Rise in infrastructure development, Increased demand of residential
Motivation for and commercial spaces, Increased purchasing power especially of
Industry Middle class segment, Rise in global temperature, Technologically
advancements, Multiple & Easily available options in terms of buying
on credit or buying convenience like Online etc.
Product Types o Light Commercial Air Conditioners, Ductable Splits, VRF, Chillers
User’ Profile Biggest Consumer are Commercial Users. Household penetration is
very low in India at just 4% where bigger cities are main
contributors. Smaller cities and Rural areas are still untapped
opportunity which is also a great motivator for AC industry for
projecting 20% - 23% growth in coming years.
o Need for Buying o Increase in temperature had made the environment as hot & humid
AC which leads to increased demand for AC’s. Highly increase in
pollution motivate people to keep their windows closed and looking
AC as an alternate, Uprising of middle class and its purchasing power
AC is a symbol of social status, Changing life style (prefer to stay
inside culture) also lead to the need for buying ACs.
o Usage of AC o Mainly used in summer to avoid the effect of high temperature and
heat. In coastal states like Kerala the ACs are effectively used to
counter the humid environment. (Keeping this in mind some
companies run special campaigns as All Weather AC’s) In bigger and
polluted cities ACs are also seen as an alternate of fresh and pure air.
o Benefits of Using
o As mentioned in above points the basic benefits are avoiding Hot
AC and humid environment and an alternate of breathing fresh air in
polluted areas. In addition to that there are social benefits as usual
tendency of Indian users are focusing more on social benefits
especially in the home appliance segments.
o Motivation for
o Few of main motivations for buying ACs are: The first motivation is
Buying ACs the basic need because of climate change lead to hot and humid
environments. Second is the social motivation especially for middle
class having ACs is the Status symbol. The third motivation is from
technology advancements which has led to the decreased cost,
availability of high technology advanced ACs and multiple channels
for easy buying.
o
3. Brand Communications:
3.1 Product Insights:
Brand : Voltas
Type : Split AC
Size : 1.5 Ton
Information Search: There was not much Information search as Husband’s Friend
is an authorized dealer of Voltas in Manorama Junction.
Purchase: It was outright cash purchase. Model selected was Voltas 1.5 Ton AC with
remote control. Compact size and better looking was a factor for selecting this
specific model.
This household is with three members. Both Husband & Wife are IT professionals
(Upper Middle Class) with a school going boy kid. Using the Voltas 1.5-ton Split AC
since last 1.5 years.
Information Search: Being IT guys they did extensive search on Internet, gone
through the User ratings, Price Comparisons, friend’s referrals and advertisements.
.
Alternate Evaluation: Daikin, Voltas, Whirlpool and Samsung was considered. Their
prices (Online portals), offers and models were shortlisted. But it was decided to
go on shop for purchasing.
Post Purchase Evaluation: A very happy Customer. AC was installed within 3 days
of purchase. As on today there is no complaint and they are satisfied with the
performance of product.
5. Managerial Implications:
5.1 Linkage between Product Category and Brand Communications:
Product Category Brand Communication
• AC with 1.5- ton capacity Brand Communications seems to be
• Adjustable Technology within 1.0 and purely aligned with the message they
1.5-ton want to communicate.
• Inverter Technology The main message in both TV Ads were
• All Star Rating focusing on savings on electricity bills
• 5 Years Warranty which was clearly aligned with adjustable
technology, all star rating and invertor
technology.
6. Conclusion:
We took this case study to fulfil the academic requirement of course -Consumer
Behaviour. We were able to complete this case study because of equal contribution
of all the group members and the knowledge/skills we gained during the course
classes. The biggest take from this course is understanding that Consumer behaviour
is a very complex and dynamic process which requires continuous and on-going
reviews, surveys , analysis etc. we are very thankful to our Prof Omkumar Krishnan to
provide us this opportunity of learning under his guidance.
Appendix A : News Paper AD – Voltas (Delhi times – 31st Aug 2019)
Appendix B : News Paper AD – Voltas (Times of India – 28th April 2019)