Electronics major, Croma credits its growth to the younger segment of the country who demands good purchase against lower price range
Croma has announced that it witnessed a 300 per cent increase in its private labels in the last three years. These labels include a range of electronics and home appliances like AC, refrigerators, TVs, washing machines, microwaves and other kitchen appliances. Its products such as earphones, headphones and bluetooth speakers have also seen growth in the past years.
Talking about the electronics major’s scale, Ritesh Ghosal, Chief Marketing Officer, Croma, informed that a huge contribution came from the younger lot in the country who looked for investing in new features on such products for a short period of time. He said that the younger segment preferred to purchase for a shorter time rather than looking at its functioning in the long run.
Croma business strategy
The CMO informed that the company’s primary focus was to follow the developments in technology and then offering the customers the same equipped in their products. Croma also added that the focus was to grow in the coming years by attending to the demand for a good purchase at a comparatively lower price.
The electronics and home appliances major’s head further highlighted three sections of customers as divided by the company. Croma works on its business strategies differently to cater to these three divisions.
According to Ritesh Ghosal, there are customers who are loyal to their brands, the second lot emphasizes more on the features offered in a product and the third ones have the tendency to buy a product after consulting with others. Croma focusses more on the second and third types and produces products as per the requirements after carefully understanding consumer needs.
Croma manufactures its products mostly across India, China, Thailand and Turkey with the focus of offering similar certification and practices as that of a brand with 100 years of manufacturing experience.
