Sectoral Refrigerator

SECTORAL ANALYSIS OF REFRIGERATORS

Presented by: Sheetal

Kumbhare

A chilled glass of water, a large mug of beer, a tall glass of refreshing laaemonade, a nice bowl of cold salad and a big helping of a frozen dessert.

Summer dreams are made of these. But ever imagined what would happen to those dreams if

not for a big, vertical, rectangular box called the refrigerator?

SECTORAL ANALYSIS OF REFRIGERATORS

History Before the invention of the refrigerator, ice

houses were used to provide cool storage for most of the year.

At the start of the 20th Century ice boxes were used to store the food products.

The first refrigerator to see widespread use was the General Electric "Monitor-Top" refrigerator introduced in 1927 .

Gradually with the development of technology different types of refrigerators are manufactured and today it is one of the most common household .

Ice boxes

Monitor-top refrigerator of GE

BACKGROUND

Refrigerators have been manufactured in India since 1950s. Till the 1980s, players like Godrej, Kelvinator, Allwyn and Voltas controlled almost 90% of the market.

Earlier, the white goods sector was categorized as a luxury goods industry and was subject to oppressive taxation and licensing.The situation changed after the liberalization of the Indian economy in the early 1990s. Post-liberalization, a number of foreign companies entered the market and many domestic players also diversified into refrigerators. BPL and Videocon who already had a presence in the consumer electronics market, leveraged their strengths to enter the durables sector.

Present ScenarioIn India, refrigerators have the 2nd highest

aspirational value of all consumer durables, with the exception of televisions. This accounts for the high growth rate of the refrigerator market.

Refrigerators are presently being manufactured in two basic designs which are referred to as Direct Cool (DC) and Frost Free (FF) refrigerator.

The direct cool segment continues to dominate Indian refrigerator market compared to more expensive frost-free models. The growth in this segment though marginal, has been driven by factors like availability of low priced models as due to competitive pricing and a growing middle class.

OVERVIEW Indian refrigerator market is valued at Rs4000 croreRefrigerators hold only 16% of consumer durable market

that is valued at around Rs. 20,000-25,000 crore in India. Its market is growing at the rate of 7-8% annually.Refrigerators constitute the second largest product

segment within the Indian consumer durables sector in India, with an estimated annual turnover of Rs 39 bn during FY2005 with an estimated sale of 4.1m units.

Projected sales for the year 2007-2008

INDIA V/S GLOBALThe penetration of household refrigerators in

India, the fifth largest consumer durable in terms of penetration, is 13% compared to well over :

90% in Malaysia, Australia, Singapore, Hong Kong and Korea;

around 80% in Thailand; close to 40% in Philippines and China and 20% in Vietnam and Indonesia.

When you compare the annual commercial sales of AC and refrigeration equipment in the US at US $ 200 per capita and in China at US $ 3 per capita with a dismal US $ 0.25 per capita in India.

SWOTStrengths1. Presence of established distribution networks in both urban and rural areas2. Presence of well-known brands3. In recent years, organized sector has increased its share in the market vis a vis the unorganized sector.

Weaknesses1. Demand is seasonal and is high during festive seasonal2. Demand is dependent on good monsoons3. Poor government spending on infrastructure4. Low purchasing power of consumers Opportunities

1. In India, the penetration level of white goods is lower as compared to other developing countries.2. Unexploited rural market 3. Rapid urbanization4. Increase in income levels, i.e. increase in purchasing power of consumers5. Easy availability of finance

Threats

1. Higher import duties on raw materials imposed in the Budget 2007-082. Cheap imports from Singapore, China and other Asian countries

Types of refrigerators :On the basis of technology the refrigerators are

of two types : (a) Direct cool (b) Frost freeDirect cool refrigerators are the low

range/price products and frost free refrigerators are the premium products with advanced features.

Direct cooling ones are mostly single door refrigerators and frost-free refrigerators are mostly double and multiple doors.

Also on the basis of capacity the refrigerators are of different types:

Mini (50 to 100 ltrs)- Right for a bachelorSmall (170 to 200 ltrs)- Right for a couple and

a small kitchenMedium(200 to 450 ltrs)- This is for nuclear

household, not too small nor too big.Large (450 to 800 ltrs)- This is for big home

and big budget

Direct Cool71%

Frost Free29%

Category Wise Market Share(Units)

Categoy Wise Market Share(Revenue)

,Direct Cool57% ,327.37

,Frost Free43% ,246.74

Need FamilyConvenience

Product FamilyConsumer Durables

Product LineRefrigerators

SKU’s165ltrs, 180 ltrs, 200 ltrs, 350 ltrs

BrandsLG, Whirlpool, Samsung, Godrej, Kelvinator

Product TypeDirect Cool, Frost Free

Product ClassHome Appliances

MARKET SHARE ANALYSIS—2001-06

Performance Measures Parameters Rerigerator Industry LG Samsung Whirlpool BPL

Godrej

Purchase exp. At the store 61 60 54 65 66 58

Billing process 55 58 49 58 52 60

Delivery process 57 53 56 57 59 58

Product usage & performance 65 64 66 73 63 62

After sales service 68 76 64 64 67 63

Customer schemes and promotion 47 44 47 44 49 49

Advertising & comm. 53 59 53 53 49 52

Customer Satisfaction IndexCustomer Satisfaction Index

46 47 48 49 50 51 52 53

LG

Samsung

BPL

Godrej

Whirlpool

Videocon

Electrolux

CSI Score

CSI Score

MARKET SHARE OF VARIOUS BRANDS IN 2006-07

30%

16%25%

29%

LG

SAMSUNG

WHIRLPOOL

OTHERS

Loyalty Segment

0% 20% 40% 60% 80% 100%

Samsung

LG

Videcon

BPL

Godrej

Whirlpool

Electrolux

Industry Average

High risk

Trapped

Accesible

True loyals

MAJOR PLAYERS refrigerator industry has become highly competitive as a number of brands have entered the market and the consumer has a wide choice.

Company BrandsBPL Limited BPL

Videocon International Limited Videocon, Electrolux , Kelvinator and Allwyn

LG Electronics India Limited LG

Samsung India Electronics Limited Samsung

Whirlpool of India Ltd Whirlpool

Godrej & Boyce Mfg. Co. Ltd. Godrej

Voltas Limited Voltas

Market players taken for analysis

LG Electronics Whirlpool India Samsung

REFRIGERATORS -Your key to healthier lifestyle

COMPANY HISTORYEstablished in 1997, LG electronics India Pvt. Ltd

operates in India through a wholly owned subsidiary LG electronics, South Korea.

LG set up a state-of-the art manufacturing facility at Greater Noida. This facility manufactured Color Televisions, Washing Machines, Air-Conditioners and Microwave Ovens. During the year 2001, LG also commenced the home production for its eco-friendly Refrigerators and established its assembly line for its PC Monitors at its Greater Noida manufacturing unit.

Besides all this, LG India is one of the very few

companies in the country that has an internal Energy, Environment, Safety and Health Department. This function caters to activities like Energy Conservation, Environmental Issues, Work Place Fire and Safety as well as Occupational Health for the benefit of the employees.

LG India has also been taking on a slew of initiatives as a part of Corporate Social Responsibility. LGEIL is proud to have adopted about 24 villages around our Greater Noida facility. LG extends Free Medical Care, which comprises of free check ups and a free distribution of medicines on a daily basis.

Its positioning statement is “high volume and lower margin”.

Its vision was to become a 'Health Partner' for its consumers worldwide and therefore formulated its corporate philosophy to make peoples' lives better, convenient and healthier like refrigerators have the 'PN System', which preserve the nutrition in food.

The company has achieved a turnover of Rs 7500 crore in 2005.

LG India has also been taking on a slew of initiatives as a part of Corporate Social Responsibility. LGEIL is proud to have adopted about 24 villages around our Greater Noida facility. LG extends Free Medical Care, which comprises of free check ups and a free distribution of medicines on a daily basis.

LG REFRIGERATORSSpecial feature to preserve nutrition with

green ion door cooling refrigerators.LG refrigerators has been rated 5 star by

Bureau of Energy Efficiency (BEE).Recently they have launched the first TV-

Refrigerator in India

TYPES OF PRODUCTS SEGMENTS IN REFRIGERATOR

1. FROST FREE REFRIGERATORS 2. DIRECT COOL REFRIGERATORS 3. SIDE BY SIDE DOOR REFRIGERATORS

TV-DIOS REFRIGERATORS

FROST FREE REFRIGERATORS

Frost forms when water vapor hits the cold coils. The water vapor condenses - turns to liquid water. When the water condenses onto the coils, it immediately freezes and forms frost.

After certain intervals, the timer turns on the heating coil which is wrapped among the freezer coils. The heater melts the ice off the freezer coils. When all of the ice is gone, the temperature sensor senses the temperature rising above 32 degrees Fahrenheit and turns off the heater.

280 – 471 litres are available. There are 9 models available in this

segment.

Called as “Intellocool” refrigerators

TARGET:Middle and middle

upper class people.

PRICE:The price range varies

between Rs.14450 to Rs.39880

CDV: 4 /5 STAR Rating (BEE) Works without StablizerIntello Compressor

DIRECT COOL REFRIGERATORSCalled as “INTELLO COOL”Available in the range of

175litres To 270litres.There are 14 models in this

segment.TARGET:Middle and middle upper class

people.



CDV: 4 /5 STAR Rating (BEE) Works without Stablizer Intello Compressor

SIDE BY SIDE REFRIGERATORSTwo doors side by side. One side refrigerator

and other side freezer with through the door ice / water dispensers.

580 – 750 litres are available.There are 5 models available in this segment.Refrigerator with TV & Radio is also available. TV-DIOS

LG India launched the World’s First TV Refrigerator – TV DIOS with a 13-inch hi-definition TFT LCD TV installed at the center of its door. The 600 litres TV DIOS also has a built-in radio tuner providing access to FM stations and is supported by built-in speakers. It has an astounding silver nano-antibacterial and nano-carbon deodorizing technology.

Called as “Intellocool” refrigerators

TARGET:Middle Upper and

Upper / premium class people.



CDV: 4 /5 STAR Rating (BEE) Works without Stablizer Intello CompressorDispenser

PROMOTION / MARKETING STRATEGYLike the marketing of FMCG products, LG's

marketing was heavily dependent on advertising. Its ad spend to sales ratio at 5-6% of sales was

very close to that of FMCG giant HLL. PROMOTION:The campaign, 'Cricket First,' which featured

captains of the 14 teams participating in World Cup 2003, highlighted the spirit of cricket with a tagline, 'Captains of Cricket World, for the Captain of Consumer Electronics and Home Appliances.' The company announced that it would spend around Rs 400-500 million on advertising during the World Cup.

ADVERTISING:Abhishek Bachchan, the brand ambassador for LG

promotes the LG “INTELLO COOL” range of refrigerators.

Threats to the companyDespite the fact that refrigerators have

immense utility to housewives and provide a solution to avoid food wastage, the penetration level is still below 20% and its market is growing at a very small pace. This may be because:

People in small towns and rural areas do not consider it as a necessary product and are unaware of its utility value.

Non-availability of power.

OPPORTUNITIESUntapped market of rural India can be

explored.RURAL & URBAN PENETRATION IN INDIA 2005

CRITERICRITERIAA

RURAL RURAL HOUSE HOUSE HOLD HOLD ‘000‘000

PENETRPENETRATION ATION

%%

URBAN URBAN HOUSE HOUSE HOLD HOLD ‘000‘000


%%

TOTAL TOTAL HOUSE HOUSE HOLD HOLD ‘000‘000


%%

REFRIGREFRIGERATORERATOR

SS

1101411014 8%8% 2951529515 48%48% 4052940529 20%20%

RURAL MARKETINGLG India- tripled the number of its retail

& distributor outlets in rural areas from 2004 to 2006

It also tapped local forms of entertainment like annual haats and fairs and made huge investments in infrastructure for distribution and marketing.

Rural Marketing - Promotion Support initiatives of LG

Mobile Van at Kasargod

Exhibition at Rajamundry

Cookery Classes at different locations for Rural Housewives

1000 In Store Demonstrators at Dealer counters in Rural Cities

Road Show at Satna

History History 1911: founded by Louis Upton1911: founded by Louis Upton

1987: Whirlpool tied-up with Sundaram 1987: Whirlpool tied-up with Sundaram Clayton Ltd. of India to form TVS Whirlpool Clayton Ltd. of India to form TVS Whirlpool Ltd. Ltd.

1995: Whirlpool Corp. acquired majority of 1995: Whirlpool Corp. acquired majority of stake in the TVS Whirlpool Ltd. stake in the TVS Whirlpool Ltd.

1996: Whirlpool Washing Machines Ltd. 1996: Whirlpool Washing Machines Ltd. and Kelvinator India Ltd. merged together and Kelvinator India Ltd. merged together to form Whirlpool of India Ltd .to form Whirlpool of India Ltd .

2003: A new mission statement of 2003: A new mission statement of "Everybody creating loyal customers "Everybody creating loyal customers for life" was adopted. for life" was adopted.

2006: Whirlpool Corporation acquires 2006: Whirlpool Corporation acquires Maytag and become the Worlds Maytag and become the Worlds largest white goods company. largest white goods company.

Success mantra of Whirlpool Success mantra of Whirlpool ::

Know a customer Know a customer

a Be a customera Be a customer

Serve a customerServe a customer

Who are the customers

How to treat them

How to add value

How to create brand loyalty

To share cust. Knowledge & insight

Creating customer touch-point value

Sharing empathy

Whirlpool is transforming into a completely customer-Whirlpool is transforming into a completely customer-centered company where the customer lies in the core centered company where the customer lies in the core of every of our functions .of every of our functions .

The transformation is made up of five elementsThe transformation is made up of five elements:: Market leadership through customer loyalty Market leadership through customer loyalty Innovation Innovation Diversity with inclusion and core competencies Diversity with inclusion and core competencies Passion for customer excellence Passion for customer excellence Operational excellence Operational excellence

Whirlpool has swiftly moved from being a World Class Manufacturer Whirlpool has swiftly moved from being a World Class Manufacturer to a World Class Marketer using the brand-building framework. to a World Class Marketer using the brand-building framework.

Vision and missionVision and mission The pervasive vision of Whirlpool is The pervasive vision of Whirlpool is

“ “ Every Home, everywhere, with Every Home, everywhere, with pride, passion and performance ”.pride, passion and performance ”.

This rests on the pillars of innovation, This rests on the pillars of innovation, operational excellence, customer-centric operational excellence, customer-centric approach and diversified talent. approach and diversified talent.

Market share and growth rateMarket share and growth rate : : Currently Whirlpool commands 25% of the Currently Whirlpool commands 25% of the

domestic refrigerator industry and trying to domestic refrigerator industry and trying to achieve 27% by this year. achieve 27% by this year.

Segmentation of market :Segmentation of market :

The segmentation variables for The segmentation variables for refrigerator market are refrigerator market are

Age/ lifecycle stageAge/ lifecycle stage Marital statusMarital status: eg: Refrigerator is a very : eg: Refrigerator is a very

necessary household for newly married necessary household for newly married people.people.

Social class and incomeSocial class and income.. OccupationOccupation : eg: “Instant cool” feature : eg: “Instant cool” feature

is convenient for working women is convenient for working women families.families.

Targeting and positioningTargeting and positioning : : Whirlpool is targeting the women of Whirlpool is targeting the women of

every Indian families and accordingly every Indian families and accordingly it has successfully positioned itself as it has successfully positioned itself as the best home-maker in the world.the best home-maker in the world.

The positioning statement is –The positioning statement is –

““You and whirlpool –the You and whirlpool –the world’s best home maker” world’s best home maker”

The USP for the frost free segment is its The USP for the frost free segment is its 66thth sense cooling system which sense cooling system which automatically adjusts the level of automatically adjusts the level of cooling . cooling .

Products Products The products in refrigerator category The products in refrigerator category

includesincludes Direct cool : Direct cool : Low range products. Low range products.

Product variants are named as Product variants are named as “Genius”.“Genius”.

Frost control : Frost control : Medium range products. Medium range products. Product variants are named as Product variants are named as “fusion”.“fusion”.

Frost free: Frost free: Premium and high capacity Premium and high capacity products. Product variants are named products. Product variants are named as as “Professional, ice bergs , “Professional, ice bergs , masterminds and delight”.masterminds and delight”.

Whirlpool refrigerator Whirlpool refrigerator FusionFusion is is available in two models which is available in two models which is designed to operate even with an designed to operate even with an irregular power supply, which is a irregular power supply, which is a common problem in many Indian citiescommon problem in many Indian cities..

Whirlpool has introduced new Delight Whirlpool has introduced new Delight frost-free refrigerators in eight models frost-free refrigerators in eight models in 230-L, 260-L and 300-L capacities. A in 230-L, 260-L and 300-L capacities. A unique feature is LED lighting, a white unique feature is LED lighting, a white light that is “evenly distributed and light that is “evenly distributed and optimally positioned” to enable the optimally positioned” to enable the contents of the refrigerator to be contents of the refrigerator to be clearly visible even when it is fully clearly visible even when it is fully loaded. loaded.

PROMOTION and ADVERTISINGPROMOTION and ADVERTISING

Promotional and advertising Promotional and advertising strategies :strategies :

Whirlpool spends six to seven times less in Whirlpool spends six to seven times less in promotion and advertising than the promotion and advertising than the competitors like LG .competitors like LG .

They have been spending the money They have been spending the money smartly. Instead of giving ads every day, smartly. Instead of giving ads every day, they are skewing their ads towards they are skewing their ads towards weekends when the customers go to shops weekends when the customers go to shops and make enquiries.and make enquiries.

Their ads are frequently coming on days Their ads are frequently coming on days such as Dussehra, Karva Chowth, such as Dussehra, Karva Chowth, Dhanteras, etcDhanteras, etc

Also, they have done some smart Also, they have done some smart negotiations with the major dailies and negotiations with the major dailies and magazines by taking a twelve-month magazines by taking a twelve-month contract and blocking the primary contract and blocking the primary positions like front page or back page.positions like front page or back page.

So they deal with competitors with So they deal with competitors with greater muscle power in terms of money greater muscle power in terms of money through smart buying and smarter through smart buying and smarter planning. planning.

Regarding ads. the brand ambassadors Regarding ads. the brand ambassadors are Ajay Devgan and Kajol are Ajay Devgan and Kajol

Strategies for the coming festival Strategies for the coming festival season:season:

They are promoting the sixth sense They are promoting the sixth sense technology which they are saying technology which they are saying that that ““a woman’s sixth sense a woman’s sixth sense captured by technology.”captured by technology.”

For the coming Diwali season the For the coming Diwali season the message is message is “magic chalao dream “magic chalao dream home sajao”home sajao”

Samsung India is the hub for Samsung’s South West Asia Regional operations.

Responsible for Samsung business in Nepal, Sri Lanka, Bangladesh, Maldives and Bhutan besides India.

Headquartered in New Delhi, Samsung India has a network of 20 Branch Offices and 40 Area Sales Offices located all over the country.

" With a total brand value estimated to be US$10.8billion, Samsung now ranks 25th in BusinessWeek's Top 100 Global Brands

Samsung India commenced operations in India in December 1995, today enjoys a sales turnover of over US$ 1Bn in just over a decade of operations in the country. Samsung has been the "fastest growing brand in the world.

Samsung (2007-08)•Samsung has launched nine new refrigerator models, both frost-free and direct-cool.

•Samsung, which is the market leader in the over-350 litre frost-free refrigerator segment, is seeking to consolidate its position by launching three new, advanced, feature-rich models in 375 litres, 400 litres and 704 litres in the Indian market. The company currently has a range of 42 frost-free models priced between Rs13,000 and Rs 1.5 lakh.

•In the direct cool refrigerator segment, the company has extended the category by introducing two new models of 180 litres and 195 litres.

•Expecting to expand refrigerator channel by 25 per cent this year.

•Targeting a market share of 18 per cent in the refrigerator segment this year from 15.8 per cent last year.

Samsung plans to reach out to more tier-II cities. Showcasing products in 135 cities this year against 120 last year.

The South had emerged as a key contributor to

the company's overall revenues.

The share of Southern sales has gone up from 24 per cent to 31 per cent, equaling the contribution from the Northern States.

In a bid to cash in on the growing interest in the South, the company has lined up 11 `Dream Home' roadshows in the region this year. The number of `brand shops' would go up by 30 per cent from 82 currently.

PRODUCTS

Mobile Phones

GSM CDMA

TV, Video & AudioTV

DVD

CAMCODER

Audio

Home Theater

MP3

Information Technology

ProductsMonitors

Hard Disk Drive

Optical Disk Drive

Laser Printers

Fax

Home AppliancesWashing Machine

Refrigerator

Microwave Oven

Air Conditioner

PositioningSamsung positions itself as technology leader and not only as a

volume player and a price warrior. Strategy is value driven, not price driven.

Expecting leadership on the basis of top quality, leading edge technology, priced competitively and backed by strong after sales service,"

Global CEO Yun Yong's vision: "We want to be the Mercedes of home electronics.“

The drivers this time at Samsung -- in fact, the company has put these well above the traditional 4 Ps of marketing -- are design and innovation.

"Good designs and innovative technology will be the most

important differentiator for Samsung from competition "If you are able to deliver the latest technology at an affordable

price, the consumer will not be willing to go back to outdated technology

How many customers actually pay attention to differentiation on the basis of technological innovations such as Twin Cooling or Silver Nano (for refrigerators), or even one based on design?

The sales staff at the showrooms are not able to point out the key differentiators.

To tackle this issue, last year, the company started the Samsung Marketing Academy, which conducts regular training programmes to educate the sales forces, shop-owners and company employees on the company's technology and design, how it is different from what competitors are offering, and how to better explain the difference to the consumer.

By equipping the salespeople to sell knowledge-oriented lifestyle products, the company is hoping to provide customers a more informed buying experience, which will translate into higher sales.

Technology and InnovationsTwin Cooling System- uses two independent

evaporators that provide optimum level of cooling to the refrigeration compartment and the freezer.

The i-Cool™ System- is an intelligent cooling system with three cold air outlets-at the back and on the right and left sides of the refrigerator interior, resulting in all round cooling action.

Silver Fresh Technology- The Silver ions inside the refrigerator, achieve 99.9% removal of bacteria and create the perfect environment to keep food super fresh.

•Direct Cool

•Frost Free

•Side By Side

Direct CoolTarget : Middle Class

No. of models : 6. Available both in 180/200 ltrs. capacity.

PriceLow price due to high competitionRs.8,700 to Rs.10,900

Frost Free Refrigerators

Category

Frost Free

(Less Than 350 L)

Frost Free

(Greater Than 350 L)

Frost Free

(Bottom Freezer)

No. of Models

6

6

3

Price

Rs.13,000-Rs.22,000

Rs.29,000-Rs.56,000

Rs.38,000 & Rs.56,000

Side By SideTarget: Premium Product

Targeted at Niche Market.

No. of Models: 13

Capacity: 545 Ltrs to 880 Ltrs

Price: Rs. 56,000 – Rs. 1,41,000

ENRICHING THE RETAIL EXPERIENCE To display Samsung products in a more lifestyle

ambience and to communicate the product benefits in a more interactive manner, Samsung India has set up a widespread network of Samsung Digital Worlds, Digital Homes and Digital Plazas all over the country.

The Samsung Brand shop network complements the over 8500 retail points for Samsung products located across the length and breadth of the country. Samsung plans to continue enhancing its penetration levels in the country to reach out to more and more Indian consumers

RETAINING CUSTOMERSSamsung considers 'After Sales Service' as a key

differentiator for Samsung products. In order to deliver prompt and easily accessible service, Samsung India has set up a widespread network of company owned as well as Authorized Service Centers to service its customers.

The Samsung Service Plazas, as the Company owned Service Centers are called, are a first in the industry.

.

The Samsung Service Plazas serve as a one-stop shop for Samsung’s walk in customers. Customers also get a chance to see the Samsung range of products and interact with Samsung product specialists to know more about the company’s products and services.

After Sales ServiceSpeed, Smile, Sure’ is the motto for Samsung Service, as the

Company seeks to satisfy more and more of its customers with prompt and accurate service. A Service Helpline number gives access to Samsung Service throughout the country. Samsung India organises a Free Service Camp on an All India basis, every year, for proactively reaching out to customers and servicing their Samsung products.

‘10 second to loose a customer, 10 years to gain them back’ forms the guiding principle for Samsung Service Team as it strives to satisfy the growing expectations of Indian customers.

Promotions

Future Scenario

With easy availability of finance, emergence of double-income families, fall in prices due to increased competition, government support, growth of media, availability of disposable incomes, improvements in technology, reduction in customs duty, rise in temperatures, growth in consumer base of rural sector, the consumer durables industry is growing at a fast pace. Given these factors, a good growth is projected in the future, too.

The penetration level of consumer durables is very low in India, as compared with other countries. This translates into vast unrealized potential.

Demand and Penetration Level of White Goods In India

Sectoral Refrigerator

Business

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