ICMR and 4PS B&M Present The Most Comprehensive Profiling of Indian Consumers’ Preferences and recall of Consumer Durable goods
It’s no more a secret that India’s consumer durables market is riding the crest of the country’s economic boom. In fact, Driven by a young population, with access to disposable incomes and easy finance options, the Indian consumer durables market has been throwing up some staggering figures lately. Even high inflation and poor consumer sentiment could not take the sheen off the industry. What’s more? pegged at Rs.350 billion, the Indian consumer durables industry recorded a growth of 12-13% in sales in 2010 over the previous year. While the average sales growth in the sector rose to 46% in Q4 2010 from 17% in Q1 2010, profit growth also improved from a 31% decline in Q1 2010 to a spectacular 118% growth in the December quarter. Analysts predict that the industry will continue with its stellar performance going forward as well. and the credit for this goes to those consumer durable brands, which embraced the change, and recognised the need to sprint along that one track that not only led them to win the loyalty and continued trust of customers, but also chart an impressive growth trajectory for the industry. After all, In the cut-throat world of marketing and mass media, where products have a tendency to become history quickly, they stormed into OUR LIVES with ridiculous ease. And that was nothing compared to the ease with which they have stayed there! 4Ps Business & Marketing, in association with THE NATION’S LEADING MARKET RESEARCH FIRM, Indian Council for Market Research (ICMR), presents the Power list of ‘India’s Most Admired Consumer Durable Brands 2011’! THIS LIST, WHICH SPANS THE top five consumer durable brands based on brand recall and THE top three based on consumer preference ACROSS SPECIFICALLY CHOSEN PRODUCT CATEGORIES, aptly reflects the changing moods and aspirations of a young and dynamic nation that HAS entered a roaring new decade full of opportunities.
Methodology: India’s MOST Admired Consumer durable brands Survey
4Ps B&M conducted a survey in association with Indian Council for Market Research (ICMR) on India’s most admired consumer durable brands amongst 855 respondents in 5 Indian cities – Delhi, Mumbai, Bangalore, Kolkata and Chennai – using a structured questionnaire and a random sampling technique. To make the survey more focused and detailed, the consumer durable segment was sub-categorised and brands were listed accordingly, mostly from the household segment of durability, with a deliberate preponderance of the electronics segment – cars, sports equipment, furniture, thereof were excluded. A few other sub-categories (including MP3 players,cameras/camcorders, juicer mixer grinders et al) were excluded from the purview of the survey with a focus on giving specificity to high capitalisation product segments. Cellular phones were another important exclusion given a combination of various factors – rapidly rising technology curve (leading to newer brands coming out with increasing regularity), extremely low product life cycles, and decreasing average usage life cycle per consumer – which almost pushes a modern day cell phone into the FMCG category in the retail segment, leave the business phone users to some extent.
The survey, in the previously mentioned cities, was conducted with SEC-A & B segments. Under the survey, respondents were asked to recall brands under different heads in the consumer durables segment. They were also asked to name their preferred brands. In the statistical representation featured within this section, only the top five recalled brands and the top three preferred brands are documented, along with the percentage divided between respondents who chose ‘specifically’ these brands – in other words, this would mean that the percentages shown in each graph would therefore statistically add up to 100%. The respondent profiling was donhttp://www.blogger.com/post-create.g?blogID=25045928e based on the segment being interviewed. The age-group of the respondents (25 years and above) was also given importance considering that such respondents are high users and buyers of different products.
It’s no more a secret that India’s consumer durables market is riding the crest of the country’s economic boom. In fact, Driven by a young population, with access to disposable incomes and easy finance options, the Indian consumer durables market has been throwing up some staggering figures lately. Even high inflation and poor consumer sentiment could not take the sheen off the industry. What’s more? pegged at Rs.350 billion, the Indian consumer durables industry recorded a growth of 12-13% in sales in 2010 over the previous year. While the average sales growth in the sector rose to 46% in Q4 2010 from 17% in Q1 2010, profit growth also improved from a 31% decline in Q1 2010 to a spectacular 118% growth in the December quarter. Analysts predict that the industry will continue with its stellar performance going forward as well. and the credit for this goes to those consumer durable brands, which embraced the change, and recognised the need to sprint along that one track that not only led them to win the loyalty and continued trust of customers, but also chart an impressive growth trajectory for the industry. After all, In the cut-throat world of marketing and mass media, where products have a tendency to become history quickly, they stormed into OUR LIVES with ridiculous ease. And that was nothing compared to the ease with which they have stayed there! 4Ps Business & Marketing, in association with THE NATION’S LEADING MARKET RESEARCH FIRM, Indian Council for Market Research (ICMR), presents the Power list of ‘India’s Most Admired Consumer Durable Brands 2011’! THIS LIST, WHICH SPANS THE top five consumer durable brands based on brand recall and THE top three based on consumer preference ACROSS SPECIFICALLY CHOSEN PRODUCT CATEGORIES, aptly reflects the changing moods and aspirations of a young and dynamic nation that HAS entered a roaring new decade full of opportunities.
Methodology: India’s MOST Admired Consumer durable brands Survey
4Ps B&M conducted a survey in association with Indian Council for Market Research (ICMR) on India’s most admired consumer durable brands amongst 855 respondents in 5 Indian cities – Delhi, Mumbai, Bangalore, Kolkata and Chennai – using a structured questionnaire and a random sampling technique. To make the survey more focused and detailed, the consumer durable segment was sub-categorised and brands were listed accordingly, mostly from the household segment of durability, with a deliberate preponderance of the electronics segment – cars, sports equipment, furniture, thereof were excluded. A few other sub-categories (including MP3 players,cameras/camcorders, juicer mixer grinders et al) were excluded from the purview of the survey with a focus on giving specificity to high capitalisation product segments. Cellular phones were another important exclusion given a combination of various factors – rapidly rising technology curve (leading to newer brands coming out with increasing regularity), extremely low product life cycles, and decreasing average usage life cycle per consumer – which almost pushes a modern day cell phone into the FMCG category in the retail segment, leave the business phone users to some extent.
The survey, in the previously mentioned cities, was conducted with SEC-A & B segments. Under the survey, respondents were asked to recall brands under different heads in the consumer durables segment. They were also asked to name their preferred brands. In the statistical representation featured within this section, only the top five recalled brands and the top three preferred brands are documented, along with the percentage divided between respondents who chose ‘specifically’ these brands – in other words, this would mean that the percentages shown in each graph would therefore statistically add up to 100%. The respondent profiling was donhttp://www.blogger.com/post-create.g?blogID=25045928e based on the segment being interviewed. The age-group of the respondents (25 years and above) was also given importance considering that such respondents are high users and buyers of different products.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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