Growth of The HDTV Market In India
The general trends in the HDTV market shows that this will probably swell up to 78% as most of the consumers are planning to replace their old television sets with the HDTVs.
Moreover, this fact is supported by the survey conducted in United States by “Hitachi America”.
The expansion prospective of the HDTV market in India is equally promising. People, who earn a decent income per month, feel that this can be a proud possession for them and it is fine to pay a good amount as the quality of picture and other facilities associated with it are simply great.
The surveys revealed the fact that 85% of the people with an annual income of more than Rs. 14.3 lakhs and about 70% of those with the annual earnings of less than Rs.14.3 lakhs are keenly interested in purchasing a HDTV.
- What are the triggers to success?
The secret to success of the HDTV market in India depends mainly on the intense desire of the consumers.
In fact, the women are keener about getting these high definition televisions just like the other consumer durable products.
They are the ones who take interest and spend ample time to browse the HDTVs available in the market from various companies.
About 73% women and 51% men take interest in knowing more about the televisions and the specs.
The functionality and designs of the HDTVs are very much important to acquire the huge market in India.
In fact this is a general trend that the larger would be the TV screens, the more consumers will be enticed. In fact people are often ready to go beyond their budget to purchase a HDTV with bigger screen.
- What are the barriers to entry?
Though the HDTV market in India is quite promising but still there are a few barriers to be conquered.
First of all, most of the consumers are not much aware of the difference among the available HDTV options.
In fact, most of the customers do not have any idea what are the different technologies used in the DLP, Plasma and LCD televisions-they feel all of them are same and the features are similar as well.
This is a complete wrong notion and the brands who wish to avail the huge market in India should put some light on this fact.
Secondly, some of the buyers are prevented from buying these televisions because of the high price range compared to the normal televisions.
Some of the local brands sell their products at a very reasonable price and this is why people take more interest in their goods.
- What does a company need to do to be successful in these markets in India?
Well calculated strategies are really important to capture the large HDTV market.
The companies need to educate the buyers and let them know more about the technology, specs and other intricacies of the HDTVs.
Now only the women but the men should also take equal interest in it.
This is a great idea to provide as many features as possible keeping the price tag nominal.
This is a competition market and the companies need to target on larger sales than making large profit from each sale.
Quality of the products is definitely important and for this they should keep updating the technology and features on a frequent basis.