Passion: The Untold Story of LG Electronics India

Passion: The Untold Story of LG Electronics India Book Description

"Within a few years of operation, we came to discover that airconditioners and refrigerators sold mainly from March till July/August. The sale of washing machines likewise peaked during the monsoon season. For other product categories, Diwali was the peak season. But CTVs continued to be sold all through the year, helping us maintain a good cash flow system." So, what did the company do, to capitalise on the market behaviour? It started introducing models in each category for every strata of the Indian society, reminisces the author. The objective was that no price point is left unmanned for competition to elbow into! Elsewhere in the book, Verma talks about LG's rural initiative. "Earlier, our research had revealed that a few of our competitors had failed to dent this market only because they unwittingly made rural posting a punishment posting," he decodes. "Or, they floundered because they hadn't pumped in enough resources into linking their rural-urban infrastructure." LGEIL, therefore, decided to handle the task, on a different scale and with a higher level of preparedness, recounts the author. The company appointed RAOs (remote area officers) from among the best qualified and committed people, and empowered them in every possible manner. "The connectivity issue between the RAOs, the branch and the head office had to be resolved, which meant an additional expenditure of $55,000 to $66,000 per office, at the minimum."

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