Symphony plans Rs 35 cr spend on promotion

Leading air-cooler maker Symphony plans to spend around Rs 35 crore this year on promotion of its products, as it gears up to introduce energy-efficient models in the market.
The company is expecting "considerable growth" across all the markets, including rural areas.
"For the 2015, Symphony has earmarked a budget of over Rs 30-35 crore for the branding and promotional activities for the summer season," Symphony Chairman and Managing Director Achal Bakeri told PTI.
Apart from traditional channels as print, radio and television, Symphony would also focus on social media.
According to him, Symphony which has around 50 per cent market share in the cooler category would maintain its lead with a 30 per cent growth this season.

"Symphony has been growing at around 30 per cent every year and we are confident of maintaining the growth in the similar lines," said Bakeri.

The cooler industry has huge growth opportunities as 80 per cent is still with the unorganised segment.
"... Buyers are gradually shifting from the unorganised segment to branded products because of the product awareness, rising disposable income, look, features etc," he said.
The Ahmadabad-based firm has added new models in its offerings and has lined up 23 models of coolers.
At present, the cooler market is around 6.5 million units and 80 per cent of volume (4.8 million units) and 70 per cent of its value, which is around Rs 1,400 crore, is cornered by the unorganised sector.

On exports, Bakeri said the company is setting up a unit in Kandla SEZ in Gujarat. It has already one unit in Surat SEZ in Gujarat dedicated to exports.