Walton Hi-Tech Industries Ltd is one of Bangladesh's leading electronics manufacturers. It produces a wide range of products from televisions to motorcycles to refrigerators. Walton aims to introduce new technologies and styles in its products lines. It targets lower-middle income customers to make products affordable and accessible. Walton uses a cost leadership strategy, producing high quality products at competitive prices. It distributes products through local outlets and provides customer service and support.
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Walton
Walton Hi-Tech Industries Ltd is one of Bangladesh's leading electronics manufacturers. It produces a wide range of products from televisions to motorcycles to refrigerators. Walton aims to introduce new technologies and styles in its products lines. It targets lower-middle income customers to make products affordable and accessible. Walton uses a cost leadership strategy, producing high quality products at competitive prices. It distributes products through local outlets and provides customer service and support.
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Walton Hi-Tech Industries Ltd.
is one of the leading electrical and electronics assemblers of our
country under the banner of R. B. Group. Since 1977, the company has been running its business with a great reputation. Their head office is in Jiban Bima Bhaban, 10, Dilkusha, Dhaka-1000. It always tries to launch the newest technologies and style in its products line as ever innovative policy. As the demand of Walton products is being increased day by day very rapidly, the company predicts that a day will come very soon when the Walton brand products shall occupy the major market share in the region. Walton produces the maximum varieties of home electronics product like Color Television, Refrigerator, Air conditioner, Washing Machine, Microwave Oven, DVD, Motorcycle, Generator, Diesel Engine, Pick-up Van, Mini Truck, Covered Van, Power-tiller, Manganese/Alkaline Battery, Energy Saving Lamp, Wrist-Watch and various Kind of small home appliances such as Fan, Iron, Toaster, Sandwich Maker etc. In this concern, Management of Walton HIL ensures their commitments for quality at any cost.
Product Categories: As customers choices are change through the terms of time and technology, Walton has introduced three new models of LCD television in the local market which have YUV technology to meet the customers need and satisfaction. The new model Walton television sets ensure good quality sound and picture those viewers will enjoy. It also helps reduce electricity consumption and increase durability. As these three new models contain high quality picture, sound with the assistance of digital decoding circuit, a TV viewer would easily enjoy the variation of brightness contrast and color. For this reason Walton LCD television is the most popular television in the market. Their Refreezarators are made in Bangladesh with ultimate highest technology. Walton Motorcycle has fuel efficient technology & Euro3 standard engine price 70000- 102800 tk. Walton Air Conditioners cooling standards are characterized by the highest state-of-the-art with smart look. Walton Generator Auto Change Over System, Non Contact Transistor Ignition System, Automatic Voltage Regulator.
Market Segmentation and Target Customers: Walton Bangladesh mainly target towards the lower middle class people so that they can satisfy their needs and make their life easier. The tagline of Walton is Amader Ponno. To help the rural people Walton has produced low price TV, generator, motorcycle and freeze so that the village people get more facilities at a lower price as the urban people get.
Pricing Strategies:
Walton Bangladesh is following a cost leadership strategy but they are also concerned about their products good quality. The price of TV set is most competitive as 42-inch set sells at 1,09,000 tk. compared to other 42-inch LCD television set sells at Tk 2,50,000. The electricity consumption is also less compared to the television that uses tension mask. As the Walton TV has the picture tube of PIL technology, it lasts long as well as saves on electric bill. From a survey report on the market, it has been found that of Walton TV lasts long as it uses the digital technology and precision in line technology. Walton motor cycle is ranging from 70000 to 102800 tk which is really helpful for the lower middle standard of living people.
Distribution of Walton Products:
Walton sell the product by the help of their local outlet which can be found in the busy road
IMC Tools for Walton:
Customer Relationship Management:
The sales executives of the Walton Bangladesh are always ready to provide detailed information and online samples for the seriously interested customers.
SWOT Analysis:
Strengths:
1. The mother company, R.B. Group of Companies Ltd, is already an established electronics and automobile manufacturing and marketing company in Bangladesh. As a result Walton has got a strong brand image.
2. Walton HIL is furnished with strong Research & Development (R&D) Division comprising of a large team of dedicated highly skilled engineers & technical personnel from home and abroad. It is fully equipped industrial set-up with annual production capacity of 0.8 million Refrigerator, 0.108 million Motorcycle and 0.3 million Air Conditioners.
3. The company desires to provide the latest technology based products with innovative design, excellent quality and many different models & capacities.
4. Because of the plenty of natural resources and cheap manpower in Bangladesh, its easier for the company to increase their efficiency to earn economies of scale (EOS).
5. They are maintaining the cost leadership strategy by targeting the lower- middle class people but the company always emphasizes on supreme priority in achieving customer satisfaction.
6. Walton refrigerators are being exported to South Africa, Australia and some other European countries.
Weaknesses:
Opportunities: 1. As Walton Bangladesh has signed an agreement with Aget Group in Malaysia, the Aget Group will sell the imported Walton brand refrigerators and motorcycles to Indonesia, Singapore, Vietnam, Myanmar and other countries through its marketing channels. This will create a huge enthusiasm at home and some countries abroad.
2. The company is going to relocate a Korean mobile phone manufacturing plant to Bangladesh and it will utilize the capacity according to market demand for low- to mid-cost handsets which will help them to create a new opportunity for them.
Threats: Selling techniques: Selling Techniques vary from those used in the highly customer centric consultative selling that facilitate buying (rather than selling) to those used in the heavily pressured "hard close".