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Brand Management

In: Computers and Technology

Submitted By hahuja02
Words 2861
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In India, Air-conditioner was perceived to be a Luxury item in early nineties. The excise duty on it was as high as 110%. There were very few takers for this product.
Baring few players like Voltas, Fedders Lloyd, Blue Star, LG and Samsung this industry was dominated by small scale unorganized manufactures. Over the period of time Government of India has reduced the excise duty to 8.24% (2007 onwards). There by reducing the price difference between unorganized and organized sector. Also due liberalization, the economy grew and hence improved the purchasing power of customers which in turn somewhere also pushed the demand for Air conditioners.
Through the ninety’s the Indian consumer durable market had grown at the rate of 15% per annum. This thing changed suddenly in year 2000 and the industry showed negative growth for continuous four years before showing signs of growth.
Rapid opening up of the economy and drop in the interest rates (18% to 8%) changed further added fuel to the fire and this industry saw a boom in their business. Consumer goods market has grown at a fast pace since last 5 – 6 years. Reduction in Excise duties made these products more affordable.
Indian consumer durable industry has still a long way to go. The penetration level of the industry is very low as compared to the international market. Indian refrigerator market is the fifth largest market in the world, but if we consider the penetration levels it is just 13 % whereas Malaysia, Singapore and Australia have penetration levels above 90%, 80% in Thailand, 40% in china and 20% in Vietnam.
When it comes to air-conditioners India has penetration level of approx 1%, compared to 20% in Indonesia, 24% in China, 40% in Thailand and 45% in Malaysia. India has per capita expenditure of 1 $ as compared to 5$ and above in China, 9$ and above in USA.
Indian window split market is estimated to be around 2.5million units as of now. The year 2009 has been very good due to prolonged summer season. All the major players had a field day. The market leader LG Electronics is planning to reach 1 million marks this year.
The Indian AC market size is Rs 2,790 crore comprising the household and commercial segments. The market is currently 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.
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.
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.
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.
Indian Air conditioning industry in 2011 is closed at 3.14 million units. This negative growth of 19% over last year. There are few players in industry with clear focus on residential as well as industrial segment. Year 2011 was the first year to see decline in AC sales in last five years. Pleasant summer and early monsoons saw poor sales in first quarter – which is crucial for this industry.
The summer of 2012 may a cool one for air conditioner manufacturer who are projecting a 3.5 million market with 10 – 12 percent sales growth in volume over 2011 – this is still a gap down from year from absolute figure of 2010 because of global financial issues and some of issues in urban and rural market in India.
Contrary there is 6 – 8 % drop in first quarter of 2012 because of hike in prices driven by fall in rupee value and in turn affecting imported raw materials and spares. Additionally stringent BEE efficiency norms in this year expected to close at 450000 units, with the marketer’s disappointment.
With effect from this calendar year from BEE has upgraded the energy standard of residential split air conditioners to a higher level in line with the energy conservation program. All-star rated split units will have a higher energy efficiency ratio as compared to the same start units last year.
Technology has really played has differentiator in industry. Today for consumers this is not mere machine giving cooled air but also several value added features. They have different self-cleaning, germ filters, pre cool, SMS on etc. With major brands entering in country there are important breakthrough like Direct current inverter technology, Network control technology, Air supply & wellness technology.
Additionally some legal regulation as well as consumer demands has added green machine as new marketing differentiator. In industry addition to high BEE rating, right refrigerant is also giving upper hand to particular player. Replacement of R 22 and using some green option is R&D project across categories.
As this industry is very happening and AC is getting shifted from comfort to necessity in India – it will witness few major breakthrough marketing and technological innovations. As companies are changing their focus not only in urban but hitting hard on rural sales - this would be great industry to track and follow from marketing stand point.
They see India as great potential in near to medium term because of industrialization, growth in income level as well as population and climatic condition nearing to gulf and Middle East region. In India, Air-conditioner was perceived to be a Luxury item in early nineties. The excise duty on it was as high as 110%. There were very few takers for this product.
Air-conditioning is typically a process, which controls temperature and humidity of the room near human comfort level or based on specific customer needs. In India, we have local as well as multi national brands available for domestic and industrial air conditioning.
Industrial air-conditioning includes buildings, cold storage units (for perishable items – fish, meat, milk, vegetable, and juices), truck containers, port / railway containers etc.
Baring few players like Voltas, Fedders Lloyd and Blue Star this industry was dominated by small scale unorganized manufactures. Over the period of time Government of India has reduced the excise duty to 8.24% (2007 onwards). There by reducing the price difference between unorganized and organized sector. Also due liberalization, the economy grew and hence improved the purchasing power of customers which in turn somewhere also pushed the demand for Air conditioners.

1.1 Market Segmentation

In 2010-11, the estimated total market size for air-conditioning in India was around Rs13, 100 crores, Of this, the market for central air-conditioning, including central plants, packaged/ducted systems and VRF systems was about Rs6, 100 crores, while the market for room air-conditioners comprised the balance Rs7, 000 crores.
During the year, the central air-conditioning industry saw good growth prospects from the healthcare, education and hospitality segments. However, the commercial real estate market after a modest pick-up in the first half of the years, slowed down in the latter half. Infrastructure projects, too, have been moving slower than anticipated with adverse impact on cash flow. The telecom industry is reeling under severe margin pressures coupled with corruption issues, and has significantly cut back on expansion. While there was a modest recovery in the IT/ITeS and retail segments, it may take a while for these segments to get into an aggressive expansion mode. On the other hand, consumer spending on room air conditioners has been on the rise and the market continues to grow rapidly. The current penetration level of air conditioners in the country is a mere 3% and according to some industry estimates, the penetration is expected to double over the next 3-4 years. This presents significant opportunities to the players in the room air-conditioners business.

1.1 Market Share of Air-conditioned in India

The Major Players of Air conditioner and there market share in India are

• LG India
• Samsung India
• Voltas
• Godrej
• Bluestar
• Carrier
• Lloyd
• Onida
• Hitachi
• Kenstar
• Whirlpool

2. Company Overview

Carrier is part of UTC Climate, Controls & Security, a unit of United Technologies Corp. a $53 billion company providing high technology products and services to the building systems and aerospace industries worldwide. UTC is a conglomerate operating in the high technology space. The UTC group operates in aerospace & building systems with companies like Carrier (air-conditioning), Otis (Elevators), Pratt & Whitney (Jet- engines), Sikorsky (Helicopters), UTC Fire & Security (Chubb & Kidde), Hamilton Sundstrand and UTC Power. Founded in 1915 by Dr. Willis Carrier, the inventor of modern air-conditioning, Carrier has developed into being the world’s largest provider of air-conditioning, heating and commercial refrigeration systems (HVACR) with access to 67 manufacturing facilities worldwide and the support of nearly 66,000 employees operating in more than 170 countries on six continents. At Carrier, innovation has always been one of the core values, and today they have nine research & design centers located in five countries in North America, Europe and Asia working to provide their customers with the highest-performing, most efficient products and services. Over the decades, Carrier name has become synonymous with reliability, innovation, commitment, superior technology, cutting-edge manufacturing and world-class performance. It also has one of the most prestigious installation bases in the world.

1.1 Air conditioner: Leading player with strong brand equity

Carrier is one of the major brands of air conditioners with complete range. If we analyze the market share for Carrier, Carrier is presently at No. 2 position in the residential segment
If we look at the below analysis we find that Carrier had positioned itself in upper middle and upper circuit. Carrier is known for the quality and after sales support provided. Carrier’s strategy is not to match the organization in number game; however it is to maintain its base of customers so as to have high repeat sales.

Carrier has various corporate repeat buyers like ICICI Bank , HDFC Bank , Euronet worldwide , Kotak Mahindra Bank , HCL technologies , Yes Bank , Axis Bank , Citibank , American Express to name a few. Carrier Strives on the relationships build upon with the customers and the channel partners

2.1 Largest player in the Commercial Segment

Air conditioner is basically divided into Two Broad Categories.
• Residential Air-conditioning
• Commercial Air-conditioning
Carrier is the largest player in commercial air-conditioning

Air-conditioning Opportunities (non-residential) over the next 5 years (cumulative starting 2011)

Segment Size/Total Investment value TR of Airconditioning (TR in millions) Value of Airconditioning (Rs crore)
IT/ITES 300 million sq ft 1.20 4800
Telecom 370,000 cell sites 0.50 2200
Pharma Inv Rs 300 bn 0.40 2500
Bio-Tech Inv Rs 125 bn 0.15 600
Healthcare Inv Rs 1800 bn 0.40 2000
Electronic hardware Inv Rs 465 bn 0.40 2000
Hospitality 140 luxury hotels + Restaurants 0.20 1000
Airports Inv Rs 243 bn 1.20 3000
Metro Inv Rs 667 bn 0.40 2000
Retail Inv Rs 800 bn 2.50 10000
SEZs Inv Rs 3500 bn 1.50 7500
Total 37600

3. History of Carrier India

4. Business Segments

Carrier primarily operates in three business segments

Residential and light commercial: homes and small facilities. It supplies furnaces, central air conditioners, heat pumps, air filters, window units, split systems and other home comfort solutions.
Commercial building: industrial and multi-level facilities. It supplies chillers, large unitary, airside systems and controls that provide comfort and enhance efficiency in buildings around the world.
Refrigeration systems for food retail and transportation: It provides applications to ensure food supplies are transported and stored for safe consumption.

5. Carrier primarily operates in Commercial / Industrial Air-conditioning segments:

The Breakup of Room Air Conditioners in Commercial Segment

The Carrier is the leader in commercial applied (Chiller and AHU) number three in Light Commercial and number 5 in residential products. Carrier is overall one of the major brands of air conditioners with complete range. If we analyze the market share for Carrier, Carrier is presently at No. 2 in the entire AC segment

6. Manufacturing Facilities

Carrier has one manufacturing facility in India, Carrier Airconditioning and Refrigeration (Carrier India), which produces air conditioning and refrigeration equipment for the domestic market. Products manufactured at Carrier India include window room air conditioners, duct free splits, chillers, airside systems, freezers and truck refrigeration.
7. Product Mix
3.1 HVAC Product Tree

The products are available in all capacity ranges required by the customers.
8. Carrier the brand
Carrier has strong brand equity in Air conditioning industry, primarily because of being inventor of air conditioning, good product quality, good after sales service. Carrier has Innovation, quality, performance, customer care, fair business practices as core values in their system which helps them to be recognized as Strong brand in the market. Below are the details on Consumer satisfaction, Distribution network, Social responsibilities, After sales support, Energy conservation, Products innovations for better understanding on contribution of these factors.
4.1 Consumer satisfaction

4Ps B & MIN association with ICMR (Indian council for market research conducted survey- MOST ADMIRED CONSUMER DURABLE BRANDS -2011, results are below for AC segment.

Distribution
Carrier has worked on the distribution and there are different channels for distribution as below:

Retailers : Retailers are those distribution entities which sell the air conditioners to the residential customers
Multi brand Dealers: Multi brand sales and service dealers are those dealers who sell more than one brand of air conditioners.
Exclusive Dealers: Those dealers who sell only Carrier brand air conditioners in the field As is evident from above Carrier has strived in building relationships with their channel partners and have increased the numbers at a rate of more than 20% every year.
Carrier has build up a WCCD Club (Willis Carrier Club Dealers) which is a group of elite dealers of Carrier . The dealer meet happens every year and the membership is renewable every year.
AFTER SALES SUPPORT
This is an area wherein Carrier has worked enormously. Carrier has been ranked No.1 in customer satisfaction as per the survey conducted by Business World in 2002 . The key drivers for service are
Carrier Care Net : Carrier Care Net is the web based application wherein entire database of the customers is managed . All the customer complaints are registered and tracked thru well defined escalation matrix till resolution upto the satisfaction of the customer. This also works as a communication channel with the dealers.
Call Centre: Well managed single number call centre for pan India customers ensures that there is proper channel for customers to interact with the company.
Technician Certification Program: This is a unique training plan as initiated by Carrier This is a 3 day training program wherein the technicians are trained on best installation practices and are made aware of safe working practices. More than 1500 technicians have been trained to ensure customer satisfaction
Service Infrastructure: Carrier has undertaken the task of building up the model service centres . Carrier has more than 50 model service centre ‘s fully equipped with tools and equipments necessary for servicing the customers
Trainings : Trainings are conducted at dealer doorsteps once every quarter to make the technicians aware of the safety . Personal protective gears have been provided to all service managers. Carrier has been conducting Safe Ride trainings for two wheelers in collaboration with Hero Honda.
Contractors Program : carrier has launched a SP 10 program which deals with safety incidents at contractors work place

Energy Conservation : Carrier has achieved the No.1 energy conservation award as a manufacturer in Consumer goods sector 3 times in a row.
Product Launch : Carrier has also launched the products with HFC refrigerants in DX and VRF category and in chillers which are not R-22 based air-conditioners thus ensuring low damages to environment in case of gas leakages. Since with more awareness toward environmental friendly initiatives, it helps Carrier to place them self at premium segment with Green products.

5.1 Brand Campaign

9. Exhibits
6.1 Financial Highlight

Carrier financials for the last 5 years as displayed below:

Source: Carrier India Balance/ P&L sheets of last 5 years
Carrier has performed well in last few years, the turnover has increase by 2 times and profits had increased by 3 times in last 5 years. Whereas Carrier was making negative profits in 2002~2003, there is strong come back from those losses.

7.1 UTC‟ s Organization Structure

Organization Structure

Carrier India Structure
Carrier India has 5 Divisions
RLC- Residential light commercial division
CTD- Commercial Truck Division
BSS- Building system division
Toshiba- Selling High End Air-conditioners
Totaline- Spare parts division
Each of the division is headed by Director level person

Sales Functions

8.1 UTC Product Mix

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Brand Management

...Case Study-Customer Based Brand Equity Building, Measuring, and Managing Brand Equity (2nd edition-p#101) By Kevin Lane Keller Q: Pick a brand. Assess the extent to which the brand is achieving the various benefits of brand equity. Brand Equity: Customers’ subjective and intangible assessment of the brand, above and beyond its objectively perceived value. The intangible value associated with a product that cannot be accounted for by price or features. Nike has created many intangible benefits for their athletic products by associating them with star athletes. Children and adults want to wear Nike's products to feel some association with these star athletes (like David Backham). It is not the physical features that drive demand for their products, but the marketing image that has been created. Buyers are willing to pay extremely high price premiums over lesser-known brands which may offer the same, or better, product quality and features. The benefits of brand equity for : Brand Equity improvement increases business value and provides many strategic advantages to NIKE – • Positive brand equity allows NIKE to charge a price premium relative to competitors such Addidas, Reboke with less brand equity. • NIKE simplifies the decision process for low-cost and non-essential products. • NIKE can give comfort to buyers unsure of their decision by reducing their perceived risk. • NIKE is used to maintain higher awareness of......

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