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| Date post: | 02-Apr-2015 |
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Mahek Shah : 2010
Mudit Srivastav:2010123
Kumar Gaurav:2010
Neha Agarwal:2010131
Piyush Ranjan:2010148
Products:
Parryware is renowned for outstanding product quality. Its Superbrand status and IMS certification are testament to this fact.
Parryware has a competitive edge in terms of an exhaustive product range, better quality and customer care facilities. Parryware has different products for its different customers ranging from necessity to lifestyle.
Parryware has been targeting specific products in specific cities like the latest “CRESTIA” –the premium segment bathroom solutions has been launched only in Mumbai. Par ryware ' s s t r ingent qua l i ty measures and r igorous tes t ing have cons tant ly p laced i t s products on par wi th o ther brands .
Parryware has a wide range of products which include:
Sanitaryware: Crestia, series, closets, basins, urinals, accessories
Allied Products: Cisterns, seatcovers, bathtubs, kitchen sinks, mirrors, vanity cabinets
Shower Solutions: Shower panels, shower enclosures, pressure pumps
Taps and Fittings: Taps, fittings,
accessories
Special Institutional products: Electronic flushing systems, push taps, touchfree electronic taps
Recommendations: Parryware is a household name when it comes to bath fittings and fixtures. However, it was surprising to note that the company is not into the ceramic products and kitchen appliances. Other players like Hindware, and Cera are the dominant players in this area who at the same time also sell fixtures and fittings. Hence it is extremely surprising that Parryware does not even have any future plans as of now to enter this space where it can so easily leverage its brand equity.
Another strategy which it can follow is that as india is a country where occasions like birth, marriage are given so much importance Parryware must take advantage and be the first mover to come up with bathrooms for young baby,youngsters,newly married couple,etc.It can cater to the needs of individual on the basis of their age group or on the basis of life stage.In this way it can create a premium brand image for itself.
Promotion:
Parryware has been using Karomi’s solution for about one year and has seen benefits that address the challenges described earlier, such as:
• Improved collaboration
• Single store for product information
• Easy to share and use
Price:Price is the one element of the marketing mix that produces revenue;the other elements produce costs.Price also communicates to the market the company’s intended value positioning of its product or brand.A well designed and marketed product can command a price premium and reap big profits.Parryware has its products which are priced such that they are within the reach of middle end and upper end of the markets.Parryware follows Market Orientation Pricing:it has its products being priced for all segments of the market such as it has pearl,jade,twist and coral taps and fittings under standard range starting from Rs.555 to Rs.1800It also focuses on upper ends of the market for which it has diamond,agate,ruby,trio and sapphire products starting from Rs.620 to Rs.4655
Competition based pricing:The company is a price follower. There is intense competition in the industry and the customers are well aware of the costs as information is readily available. Hence the company cannot vary its prices greatly compared to those of the competitors. Otherwise it stands to lose its customers who will move over to the other brands. Thus the prices are quite sticky even though the price elasticity is quite inelastic as the purchase of fixtures and fittings generally cannot be delayed. These are the reasons why all the firms in the industry refrain from entering in price wars.
Premium Pricing:To gain larger market share Parryware introduces speciality products which focuses on lifestyle. It keeps on innovating its products which contributed to 18% of total sales and improves its quality and thus customers don’t feel cheated.it has special electronic taps costing Rs 8550. Par ryware Roca Pr iva te Limi ted , No 1 ba throom solu t ions provider in India today launched the premium in terna t iona l “Cres t ia Col lec t ion” in Mumbai . The Cres t ia co l lec t ion cons t i tu tes 22 comple te ly new products wi th in te rna t iona l s ty l ing and a t t rac t ive fea tures The premium market for sani ta ry ware in India i s today es t imated a t Rs 130 crores per annum, Parryware commands a 10% share of the Premium segment . Wi th the launch of Cres t ia Col lec t ion , we are conf ident of fur ther improving our share in th is segment in the coming months .”
![Untitled-2 [] · Antiskid Floor tiles (Sornany, Kajaria or Equivalent). Wash Basin and Wall hung type Toilet Seat of Parryware, Cera, Hindustan or Equivalent, C.P. Fittings of Jaquar/Excell](https://static.documents.pub/doc/80x56/5e63e6f3c66b9f2c752239f9/untitled-2-antiskid-floor-tiles-sornany-kajaria-or-equivalent-wash-basin.jpg)
![Untitled-1 [] · Basins Make: Parryware / Neycer Standard Fittings: Jaquar Smooth finish to internal walls and sponge finish to external walls Plastic Emulsion with NCI- Altek or](https://static.documents.pub/doc/80x56/5f01e3d67e708231d401892c/untitled-1-basins-make-parryware-neycer-standard-fittings-jaquar-smooth.jpg)
