Essay on Micromax Market Analysis
A Study on Marketing Strategy of Micromax and Future Challenges
Akshay Aggarwal Ashok Kumar Mayank Singh Saurabh Bhise Mohit Sharma
Submitted on: 21st Dec’ 2012
INDIAN INSTITUTE OF MANAGEMENT, KASHIPUR Acknowledgement
Apart from the efforts made by the team, the success of this project depends largely on the encouragement and guidelines of many others. We take this opportunity to express our gratitude to the people who have been instrumental in the successful completion of this project. We would like to show our greatest appreciation to our Marketing teacher Prof. Somnath Chakabarty. We can‘t thank him enough for his tremendous support and …show more content…
understanding of rapidly changing consumer preferences coupled with the use of advanced technologies, Micromax has been able to differentiate itself from the competitors through innovation and design. They are present across 14 locations including Hong Kong, Bangladesh, Nepal, Sri-Lanka, Maldives, UAE, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman, Afghanistan and Brazil. The company has presence in more than 500 districts and 90,000 retail outlets. The company started its Mobile handset business in 2008 and the challenge was to establish an identity in a market dominated by big MNCs like Nokia, Samsung, LG and Motorola. The company realized the fact that there are certain unmet needs still there in the market which is not being addressed by big brands. Micromax‘s strategy, since their inception has been to identify the unmet latent needs of people and come up with a product which no one else has and thus fits well with the consumer need. It didn‘t bank on price competition only rather it catered to the needs of people unaddressed by MNC brands. Micromax initially targeted rural market and once it established its presence went on to lure urban youth. Micromax specialized in entry-level and mid-segment handsets priced between Rs 1,800 and Rs 2,400 when it started selling the devices in 2008, confining itself to small towns and rural areas in the first 12-18 months.
Differentiation-Key strategy that contributed to quick rise of