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Trane Offering Innovative Residential Solution For Homes
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Converging products have been the flavour of the consumer electronics segment this year.
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Friday, August 03, 2012:
Couple of months back, saw the entry of Trane Residential Solutions from Ingersoll Rand in the country. The brand has since been focusing on the North American market, but their extensive consumer and market study in India over the last three years has resulted in the introduction of technology, which resonates the desire of an Indian customer, or so they claim. EFYTimes.com spoke to the officials of the brand enroute to discussing their operations in India.
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When did you initiate your business with Residential solutions in North America?
It is a combination of two businesses; Trane Residential and Schlage security business. So, we had combined the businesses about three years ago and we finally entered the Indian market this year.
Where all does Ingersoll Rand offer its residential solutions currently?
We are primarily focused in North America. We also sell across Latin America, some pockets across Middle East and India.
What potential do you see for such products in the Indian market?
Our research has shown us that there is a definite need and demand for such products. We have high expectations from the Indian market but we believe, it is too early to talk about figures right now. Ingersoll Rand has introduced products, which we believe will cater to customer's desires.
There are multiple brands offering such products in the country and the fact that your product pricing is premium, are you targeting only the high-end segment?
We would not like to put it that way. The entire product portfolio has come out of consumer research. Though, we do agree that the customer has to be someone who is used to the category, which clearly defines the customer as someone who has used an air-conditioner(AC). Customers nowadays thrive for convenience, for which they are on the look out for enhanced products in the market, which is exactly what we serve to offer. India is a value-conscious market but the scope for such products are more than viable.
Do you foresee any competition in the segment in India?
The way we have combined the AC and security solution, it gives us the first-move benefit in the segment. We don't have any direct competitor, but there will be individual category players, so we consider this group as our competitor.
When you say you are introducing residential solutions, does this imply that you will be targeting the residential segment forefront?
The residential base will be one of our key customer segments. The property prices have hit sky-high over the last couple of years, but if you look inside the property, you would find lack of intelligent products. We believe our products are the right fit for this segment.
What is the marketing strategy that you have adopted for the residential solutions?
Ingersoll Rand's strategy is very simple. We have understood the need to communicate our proposition, the entire inter-connectivity and we have been innovative in that communication strategy but we believe our products speak for themselves.
And what about your retailing strategy, how have you handled that aspect?
Our channel of reaching out to the consumer will be common for both; residential segment and non-residential customer. We have undertaken multiple channels, by setting up solution providers, also known as sales and service dealers. We have concentrated on the retail channel, the exclusive store format. We have also looked at other places, where the customer goes, like, home stores, modular kitchen stores.
Tell us about the manufacturing process for these products?
As far as the product is concerned, the technology implemented has been devised in India but the manufacturing is being done outside India, for the time being. We have been importing 100 per cent of the product.
Since, Trane is a customer centric product, what are the kind of after-sales service that you have adopted?
Our after-sales service, go hand-in-hand with our network. We have equipped our partners with the capability of providing service and setting up network of service providers, to ensure customer issues are tackled efficiently.
Which cities have you targeted in the first phase of operation?
We have begun our operations with 7 key cities initially and we would be expanding ourselves to across 24 cities in the next three years.
Aadeetya S, EFYTIMES News Network
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