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As rapid socio-economic changes sweep across India, the country is witnessing the
creation of many new markets and a further expansion of the existing ones. India’s
consumer market is riding the crest of the country’s economic boom. The Indian
consumer durables industry has witnessed a considerable change in the past couple
of years. Changing life style with access to disposable incomes, easy finance
options and a surge in advertising has been instrumental in bringing about a sea
change in the consumer behavior pattern. According to a study conducted by the
Indian consumer durables industry, a shift in consumer preferences towards
higher-end, technologically advanced branded products has been quite dicernable.
This shift can be explained by narrowing differentials between the prices of
branded and unbranded products added with the high quality of after sales service
provided by the branded players. The shift has also been triggered by the
availability of foreign branded products in india owing to lower import duties
coupled with other liberal measures as introduced by the government.
The consumer durables industry consists of durable goods and appliances for
domestic use such as televisions, refrigerators, air conditioners and washing
machines. Instruments such as cell phones and kitchen appliances like microwave
ovens are also included in this category. The consumer durables industry can be
broadly classified into two segments: consumer electronics and consumer
appliances. Consumer Appliances can be further categorized into brown goods and
white goods.
CONSUMER DURABLES
CONSUMER APPLIANCES
WHITE GOODS
REFRIGERATORS
WASHINE MACHINE
AIR CONDITIONERS
BROWN GOODS
MIXERS
GRINDERS
MICROWAVE OVENS
IRON
ELECTRI FANS
COOKING RANGES
CONSUMER ELECTRONICS
MOBILE PHONES
TELEVISIONS
MP3 PLAYERS
DVD PLAYERS
VCD PLAYERS
INDUSTRY SIZE, GROWTH AND TRENDS
Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three
decades, the group diversified into areas including food processing, textiles, insurance, securities,
and retail. Samsung entered the electronics industry in the late 1960s and the construction and
shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth.
Following Lee's death in 1987, Samsung was separated into four business groups – Samsung
Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990, Samsung has increasingly
globalised its activities and electronics; in particular, its mobile phones and semiconductors have
become its most important source of income. As of 2017, Samsung has the 6th highest
global brand value.[6]