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About IFB Industries

IFB Industries is an Indian manufacturing company established in 1974 that produces appliances and components. It has divisions in Kolkata and Bangalore. The company aims to manufacture tools and components for engineering industries using advanced technology. IFB also produces home appliances like washing machines. This marketing plan outlines a strategy for launching IFB's new 450-liter double door refrigerator in Mumbai, which has a growing refrigerator market. The plan involves analyzing competitors, positioning the product as premium, and implementing promotional activities and partnerships with retailers. The goal is to build brand awareness and drive sales in Mumbai.

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Aditi Kabra
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103 views4 pages

About IFB Industries

IFB Industries is an Indian manufacturing company established in 1974 that produces appliances and components. It has divisions in Kolkata and Bangalore. The company aims to manufacture tools and components for engineering industries using advanced technology. IFB also produces home appliances like washing machines. This marketing plan outlines a strategy for launching IFB's new 450-liter double door refrigerator in Mumbai, which has a growing refrigerator market. The plan involves analyzing competitors, positioning the product as premium, and implementing promotional activities and partnerships with retailers. The goal is to build brand awareness and drive sales in Mumbai.

Uploaded by

Aditi Kabra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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About IFB Industries – Company Overview

IFB is originally known as Indian Fine Blanks Ltd. The company started in 1974 in India
in collaboration with Heinrich Schmid AG of Switzerland. Its divisions are located in
Kolkata and Bangalore. 
The company was incorporated on 12th September 1974, in West Bengal. The
company was promoted by Bijon Nag, an engineer. The company’s main objective is to
manufacture fine blanking tools and components used in a wide range of engineering
industries. In 1989, IFB began producing fully automatic washing machines and other
state-of-the-art appliances. IFB is a very reputed company because of its quality,
durability and technology. They positively impact people’s lives and the environment.
Their expertise is a world classroom tool with its advanced pressed technologies and
machinery. Their home appliances are created with the appropriate technology and
innovations to assist families in receiving the care they require.

Quick Stats on IFB Industries

CEO Raj Shankar Ray

CMO N/A

Area Served Worldwide

Industry Manufacturing

Market Share/ 27.4 billion Indian rupees


Revenue

Vision To be synonymous with Innovation & Technology in its chosen fields of business
activities and to excel in Quality & Services to be in consonance with Global
Standards.

Tagline IFB Home appliances – Set yourself free

 Market overview: The double door refrigerator market in Mumbai is expected to grow at


a CAGR of 7% from 2023 to 2028. The growth of the market is being driven by factors
such as increasing disposable income, growing nuclear families, and rising awareness
about the benefits of refrigerators.
 Competitors: The major players in the double door refrigerator market in Mumbai
include Whirlpool, LG, Samsung, Haier, and Godrej. These companies have a strong
brand presence and offer a wide range of products to consumers.
 Consumer trends: Consumers in Mumbai are increasingly looking for refrigerators with
large capacity, energy efficiency, and advanced features. They are also willing to pay a
premium for products from trusted brands.
Marketing Plan: IFB 450-Liter
Double Door Refrigerator Launch in
Mumbai
Executive Summary
The following marketing plan outlines the strategy for the launch of IFB's 450-Liter
Double Door Refrigerator in the Mumbai region. This plan aims to establish a strong
market presence, build brand awareness, and drive sales within the refrigerator
category. The plan includes a comprehensive analysis of the market, target audience,
competitive landscape, and a detailed marketing strategy.

I. Market Analysis
A. Market Overview
The refrigerator market in Mumbai is highly competitive, with a wide range of brands
and products. Key players include LG, Samsung, Whirlpool, and Godrej. Mumbai's
diverse population, rapid urbanization, and increasing disposable income make it an
attractive market for premium appliances like the IFB 450-Liter Double Door
Refrigerator.

B. Target Audience
1. Middle and Upper-Middle-Class Families: Families with higher disposable incomes
and a preference for quality appliances.
2. Working Professionals: Young urban professionals looking for spacious and feature-
rich refrigerators.
3. Retail and Hospitality Sector: Restaurants, hotels, and cafes in need of reliable
refrigeration solutions.
C. Competitor Analysis
Analyze the strengths and weaknesses of key competitors, including product offerings,
pricing, and market share. Identify opportunities where IFB can differentiate itself.

II. Product Description


The IFB 450-Liter Double Door Refrigerator offers the following features:

 Spacious Interior: 450 liters of storage space, suitable for large families.
 Energy Efficiency: High energy-efficiency rating to reduce electricity bills.
 Advanced Cooling Technology: Ensures uniform cooling and freshness.
 Smart Features: IoT connectivity, digital controls, and advanced sensors.
 Sleek Design: Aesthetic appeal to match modern kitchens.

III. Marketing Strategy


A. Product Positioning
Position the IFB 450-Liter Double Door Refrigerator as a premium, high-performance
appliance.

B. Pricing Strategy
Competitive pricing with an emphasis on the product's value and features.

C. Distribution Channels
1. Retail Stores: Partner with established electronics and appliance retailers in Mumbai.
2. Online Platforms: Utilize e-commerce platforms to reach a wider audience.

D. Promotions and Advertising


1. Launch Event: Host a launch event in Mumbai to generate buzz and media coverage.
2. Digital Marketing: Utilize social media, search engine optimization (SEO), and online
advertising to reach the target audience.
3. Influencer Marketing: Partner with local influencers to create product reviews and
endorsements.
4. Print Media: Advertise in local newspapers and magazines.
5. Outdoor Advertising: Billboards and transit ads in high-traffic areas.

E. Sales Promotion
1. Introductory Discounts: Offer special discounts during the initial launch phase.
2. Exchange Offers: Encourage customers to upgrade their old refrigerators.

F. After-Sales Support
Provide excellent customer service, including installation assistance, product tutorials,
and a responsive customer helpline.

G. Sustainability Initiatives
Highlight the refrigerator's energy efficiency and eco-friendly features to appeal to
environmentally-conscious consumers.

IV. Measurement and Evaluation


Track key performance indicators (KPIs) including sales revenue, market share, and
customer feedback. Regularly assess the marketing strategy's effectiveness and make
necessary adjustments.

V. Budget
Allocate a reasonable budget for marketing activities, ensuring that each element of the
strategy is adequately funded.

VI. Timeline
Create a detailed timeline outlining the launch date, marketing campaign phases, and
ongoing marketing efforts.

VII. Conclusion
The launch of the IFB 450-Liter Double Door Refrigerator in Mumbai presents a
significant opportunity in a competitive market. By strategically positioning the product,
leveraging effective marketing channels, and delivering exceptional value to customers,
IFB can achieve a successful market entry and establish a strong foothold in Mumbai's
refrigerator market.

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