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Tuesday, October 26, 2021

A Case Study on Micromax

Introduction

Micromax cell is a familiar call both in the rural and concrete marketplace and has emerged as the third-largest handset promoting agency in India. Commenced in 2008, with a cell handset with 30 days battery life, made a wonderful position in the market with its innovation and creativity. After that, they haven’t appeared lower back and have introduced various handsets with wonderful functions at low priced fees and has given a tough competition to market moguls. Their highlight is in particular on teens as youth constitutes the biggest chunk of Indian demographics. they’ve judiciously described their target customers in phrases of fee and extent. Extent target group produced from first-time telephone buyers and cost target institution made out of 2d time shoppers as both alternatives or upgrade. The concept at the back of this segmentation changed to cater better to the varied wants of those two sets of consumers. They’ve accompanied an exceptional route in comparison to other peer businesses, as going first in the rural marketplace, taking pictures of market percentage over there after which getting into the city market. Innovation is their core strength, whether it’s far product development or communication method or Distribution approach, or After income provider. Their handset income has grown by way of 123.48% from 1.15 million gadgets within the sector ended June 30, 2009, to 2.57 million devices in the sector ended March 31, 2010. they’re additionally selling cell information cards for computers below their brand name to their service vendors in India. definitely, the organization’s strategy labored for it and the consequences virtually passed every person’s expectations. In only years of its operations, micro max has been able to nook a big market share of 6 percent.

History

Micromax came into existence around March 2000 named Micromax Informatics Private Limited. As a result, it joined the smartPhone business a year and a half too late, namely in March 2008. After then, there’s no need to look back, since it’s rapidly growing to become India’s largest domestic mobile phone employment. In 1991, Mr.Vikas Jain and three pals founded Micromax Informatics, the business firm.

An Indian company, Micromax Informatics is now a mobile communications company with its headquarters at Gurgaon within Haryana. The country’s largest manufacturer of wireless cellular handsets is the company. And for now, the company has 23 office spaces throughout the United States and offices in other countries such as Dubai & recently Nepal. When it comes to devices delivered throughout India, Micromax was the largest company in the country from around Mar 31, 2010, and the 0.33 largest smartphone seller throughout India as of Mar 31, 2010.

Major progress was made in 2008 when the business joined India’s smartphone handset marketplace. From 0.59 percent in September 2008 to 6.24 percent over the period of March 2010, the overall company market share has increased.

They’re the fastest-growing organization in India, according to the company’s website. Today, they’re a part of India’s finest 5 mobile phone brands. By Mar 31, 2010, overall handset sales had increased by 123.48 percent from 1.15 million units throughout the sector ending June 30, 2009. Under their symbol name, they’re additionally advertising mobile statistical devices for computer systems to their business firms in India.

However, despite the fact that Micromax Smartphones had a modest beginning in 2008, it is currently providing a tough fight to all of its competitors in the market. The company’s wireless telephone solutions in India are well-known in the United States. The following are some of the product features that make it effective in this muddled market which is mentioned below: 

  • dual SIM 
  • price added offerings
  • value for  cash

The best thing about Micromax Smartphones is that their phones can be purchased for a very cheap rate. A typical charge range is INR. 1800 to INR. 16,000. Another few features of their smartphones aren’t anymore seen in elsewhere products.

Among them, the attention-catching capabilities in their cellular are:

  • A mobile phone that may use it as a controller for DVD / VCD players, TVs, and air conditioning systems (after being configured).
  • Cell phones with long-lasting batteries that can last up to a month (in its standby mode).
  • Their smartphone devices could be used as a game controller for PC games that detect movement.

The following are amongst Micromax’s most popular mobile phones:

  • Micromax X1i      
  • Micromax X211
  • Micromax X332

Related Article: Apple iPhone XS MAX Review And Its Other Distinguishing Features

Micromax’s Business Approach

As a rule, most organizations initially target the central market and afterward steadily make their way further into local markets. The reasons for this include low literacy, poor infrastructure, and little discretionary wages, as well as an unwillingness to use modern-day technology. In spite of these obstacles, Micromax went in a different direction. A ten percent share in rural markets helped them establish their footprint, and now they’re actively creating a beautiful brand for city markets. Following Nokia (31.2%) and Samsung (8%) in market share, they’re currently India’s third-largest GSM cell phone supplier, according to IDC. Every month, the company sells anything from 7 lakhs to a million mobile phones. And based on its own estimations, it currently sells about Rs.1,500 crore worth of handsets yearly.

Their target market has been clearly defined by Micromax, which has then delivered its product in accordance with their exact needs. The firm chose to focus on the youth because they make up the largest segment of the Indian population which is the most significant customer group.

An age group of 15-24-year-olds was targeted in the logo communication strategy to attract clients. They have a clear understanding of their target market in terms of pricing and quantity. The quantity goal group is made up of first-time telephone purchasers, while the price goal group is made up of second-time telephone purchasers as either a replacement or as an upgrade. Because of this segmentation, there is a need to cater to a broader range of needs of these two groups of clients.

Products Strategy

Micromax may be very innovative and revolutionary in developing new products for the home market. Their products are extraordinary with a unique fusion of price management and product differentiation.

30 Days Battery Cell Phone

The guys at Micromax have two aces up their sleeve — an eager eye for what the customer wishes, and the ability to swing their delivery chain.  Micromax began selling computer systems and “constant wireless” public telephones (PCOs) earlier than coming into the crowded cellular telephone market. The organization’s first telephone, the X1i, was born from the conclusion that many Indian villages and towns didn’t get sufficient strength to even recharge a telephone day by day. By means of increasing the size of the battery to 1800 mAh, Micromax was capable of a standby time of 30 days for the X1i to be released in April 2008. And at an alternative inexpensive rate of Rs. 2,150, the phone was a big success in rural India, now available at Rs.1999.

Dual Sim Mobile Smartphone

Dual sim telephones are the killer class of Micromax and nowadays it’s far present in 20 to 30 percent of all cellular handsets bought in India. presently they may be supplying this feature in their handsets i.e. 22 out of the 26 smartphone models sold in India. Until last month, Nokia didn’t have an unmarried telephone with dual sim feature however now have finally succumbed to strain from Micromax and as a result is prepared to release their first dual sim phones C1 and C2 priced between Rs. 1999-2500. 

Multimedia Cellular Cell Phone

It gives advanced sound with powerful speakers and an in-constructed motion sensor, a digital camera, and wireless FM with an antenna.

Universal Remote controller Cell Phone

It could be programmed for switching tv, controlling the temperature of the Air situation, switching on and off the DVD and VCD players.

QWERTY Keypad Cell Cellphone

Currently, there are 8 handset models in this category.

Smartphones

These are Microsoft Windows compatible cell phones, with GOP navigation ability and maps of India.

Gravity Cell Smartphone

These telephones additionally function as wireless-sensing controllers for computer games and are capable of converting a computer into a gaming tool.

3G Cell Telephone

They’re the first to provide operator-branded 3G mobile handsets in India.

Dual Reception Mode Models

This handset has each GSM-CDMA mixture telephone and may function using either technology.

Software Phones

Those are the telephones with LED flashlights and color screens.

Challenges Ahead

The mobile market is expanding very rapidly, new gamers are expanding very rapidly within the Indian market, and accordingly, the prevailing players are dealing with a range of demanding situations. A number of the demanding situations are excessive-give-up fashion designer phones with upcoming EVDO and 3G technologies. Changing government regulations are throwing new challenges each day. Various state taxes are also huge trouble for these local gamers. The first and principal task for the new gamers nowadays is to set up their logo in India and satisfy their dedication. These businesses do comprehend the truth that they’re new entrants in the market and the biggest assignment in front of them is to stand out of the litter in phrases of superior services, more desirable services, and much wider attainment.

As a result, the company is making plans to spend Rs. a hundred crore in the next two to a few years for their logo photo building.

Conclusion

Without a doubt, the corporation’s strategy worked for it and the results simply handed everyone’s expectations. In just years of its operations, micro max has been able to corner an extensive market proportion of 6 percent. No longer just that, the monthly sales of the logo have jumped from a couple of lakh (within the early months of its release) to twelve lakh handsets currently. (market leader Nokia sells nearly 50 lakh handsets in a month).

On the emblem recognition meter too, Micromax has visible a massive upsurge. It has shot up 50 % over the last 365 days. also, it’s far the 1/3 most searched emblem on Google, within the united states of America.

Marketplace regulator SEBI has given a nod to homegrown cellular handset maker Micromax to sell a 10 % stake via an initial public offer. According to SEBI data, the organization had filed a draft red herring prospectus on September 29 last year and was given the market regulator’s approval on January 14 this 12 months. The company can be presenting 2.15 crore stocks and it can don’t forget a discount of 10 % at the IPO trouble fee for retail buyers. The Delhi-primarily based cellular handset maker can also don’t forget participation by means of anchor traders.

To maintain an aggressive marketplace, Micromax has fought nicely to preserve itself on the runner’s song. they’ve simply achieved the first-rate task in terms of sales, advertising, and transport. It’s miles a splendid effort from the strategy team to fight the opposition.

Also Read: What People Has To Say About The New Google Pixel Phone?

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Kiara Dutta
Kiara Dutta comes from an Engineering background, with a specialization in Information Technology. She has a keen interest and expertise in Web Development, Data Analytics, and Research. She trusts in the process of growth through knowledge and hard work.

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