“If we have a will, we can create our own blue ocean to catch some fishes”. This is the business, we should know which tract to tap; how, when and where to make the most outcome for both: company and consumers. Needless to say, I don’t know about these business strategies. However, companies like Truvison do know. Yes, Truvison, a European consumer durable brand which has marked its appearance in India in the year of 2016 but in such a short time they have made enough playground in the market to hit high scores.
The origin of Truvison & its technology innovation roots is derived from the UK. With consumer satisfaction as the key differentiator, Truvison is working insistently to create new products and experiences for the Indian Consumers. Truvison product range comprises of state of the art Televisions, Home Audio, Air Conditioners, & other Appliances.
Doing business on native soil is easy when you juxtapose it to some unknown land. This is the reason, why we had an interaction with Mr Saurabh Kabra – Director & Business Operations –Truvison. So, that we can understand what kind challenges and techniques they used to established TruVison in India.
Before moving ahead, let me introduce Mr Saruabh to you; he has completed his Masters of Science in Global Management & Pathway in Family Business from Regent University- London in 2016. He brings all his learning’s to the business in India with Truvison. His love for music and the geeky taste buds. He is passionate about driving his team to design products that have the end user in mind and address their needs to ensure they have an enhanced user experience. He closely manages all departments from R&D and logistics to sales and marketing. Under his leadership, the brand has introduced global Technology built Home Audio Systems and Flat Panels into the Indian market. He believes that a brand that can manage to stay new-fangled and fresh would uphold a better stature in the market.
Here are some questions we asked Mr Saruabh Kabra to understand the highs and lows of the business.
Because of India’s diversity, what are the challenges and difficulties facing by the Truvison here?
India is a vast country and there is an endless Diversification in the needs and preferences of consumers. New brands come up every year and the market is overcrowded with a large number of small and large brands. There is a cut-throat competition in the market, which makes it difficult for each brand to sustain. As a startup, we did face the dismal lack of recognition against the known brands..But like they say ‘the bigger the challenge, the bigger the opportunity’ we eventually overcame all the challenges by giving better quality to our customers at affordable prices.
Truvison already in LED TV, Audio and Washing machine markets, any further product expansion plans?
Yes, we have a very diversified and balanced portfolio of consumer durables and electronics. The portfolio LED TVs which includes HD, UHD, 4K TVs and we have also come up with Models that support the Voice Assistant Technology. Apart from this, we have a vast Audio Portfolio which includes Tower Speakers, 2.1, 4.1 etc. We have recently launched a washing machine as well. We plan on extending the segments beyond what we have achieved to date. Furthermore, viewing the dynamics of the market, the next milestone to be achieved will be with the addition of refrigerators and air purifiers into the portfolio. By 2020 we shall have a range of Consumer Durables under our umbrella.
Currently, what are the customer base and focus verticals of Truvison in India?
As India grows economically, its rising purchasing power has naturally made its emerging cities (Tier II and Tier III Cities) promising, yet untapped markets. The Tier II and Tier III cities are the new face of India, a new wave of India. For Truvison, the Brand has already opted for this route & established a major focus in these untapped markets with a strong distribution network. We are actively charting appropriate strategies and communication tools to cater to them. Currently, our major focused verticals include Air Conditioners, Television & Audio Category.
What different is Truvison doing as compared to the other Indian TV brands?
The underlined always remains our TVs are affordable but that does not mean it’s Cheap and we never compromise on Quality which is our key USP. For us, it’s the product that does the talking. Also, we are considered as Value for Money Brand that has bought the Touch of International Technology to Indian Markets. To stand out amongst other emerging brands, we are focussing on our USP being our global technology customised for the Indian market namely, Cornea Technology & Turbotek Technology for our range of LED TV & Sound system respectively.
In the way forward we are also planning to establish our company’s exclusive franchised outlets in India. We are also concentrating on stage wise brand planning and also retaining the ethos of quality assurance.
What is your roadmap for the next year?
Currently, Truvison is focusing on exploring new avenues for growth and shall continue to focus on product development, and enhancement of the processes and after sales-service. Clear focus shall always remain on building the latest technologies at a most affordable price without compromising on the quality. Our vision is to bridge the connect with consumers stronger with Superior Products, Excellent After sales service and an enriching Experience. With several strategic tie ups and partnership in the pipeline, we aim to expand the product line across categories, enriching the lives of the consumers and adding a ‘soul’ to our products. We also plan to introduce more categories under a mass premium brand which will help us to expand in tier II & III cities. We aim to be India’s most Trusted Destination for Consumer Durables and probably amongst the top 3 consumer durable brands in the coming years.
As you mentioned that Truvison is doing great in the southern & western part of India. Why only these two zones, what about the rest?
Our entry points were Southern and Western Markets and hence they have been our stronger Markets. We do have a sizeable chunk in other regions too. As against the other players, our Offline presence, shall help us leverage product visibility in other upcoming regions.
We have grown 300% since our inception, and are seeing 10% growth YOY. In total, we have sold over 5 million products reaching 25 million customers across the globe. Today we are a 100Cr Brand, standing strong and growing rapidly, as against the Comp. a balanced approach for Offline and Online Markets.
How well the Truvison is performing in Tier II and Tier III cities?
The rising purchasing power are the emerging cities (Tier II and Tier III Cities) which are not only promising, but also untapped markets. The Tier II and Tier III cities are the new face of India, a new wave of India. For Truvison, the Brand has already opted for this route right from its inception & established a strong presence in these untapped markets with a strong distribution network and omni channel presence. We are actively charting appropriate strategies and communication tools to cater to them. Today, we are available at over 500 hundred dealer locations plus offline platform with a presence in over 32 Cities.
How will you define the after-sale service support of Truvison? Becuase in India, the consumers are struggling a lot because of inappropriate support service of TV manufacturers.
Unlike other TV Brands in India, we are not hungry to achieve Nos/Targets, we are hungry to have satisfied customers. It is not just the sales, but beyond. We have covered several policies, under our after sales program which includes after sales warranty, product replacement etc to adhere trust among the customers. We have designed an end to end CRM process for all our services which eases the backend. Also, we have more than 400 Franchise network working with us to deliver nothing but the best After Sales, at Pan India Level.