Sony India ups marketing spend

20 December 2010

MUMBAI: Sony, the electronics giant, will increase its Indian adspend by 40%, to 350 crore rupees ($77m, €58.2m), during its current financial year.

LCD TV sets, laptops and cameras are priority products for the Japanese multinational, and Bollywood stars Kareena Kapoor and Deepika Padukone have both signed endorsement deals as part of the marketing push.

These initiatives are intended to grow Sony's overall sales from 3,700 crore rupees in 2009-10 to 5,700 crore rupees in 2010-11.

"We are aggressively campaigning," Sony India senior general manager Sunil Nayyar said.

The company also slashed prices by around 10% in the past year as it aims to compete with Korean rivals LG and Samsung for the favour of the price-conscious Indian consumer.

Distribution is another area of focus for Sony, which has expanded its network of outlets by 33%.

In an interview with the Times of India, Masaru Tamagawa, Sony India's managing director, said: "We are not only investing in marketing and distribution but also in talent here in India as we see a huge potential to grow.

"Earlier in India, marketing budgets were limited which impacted sales here."

Sony's internal forecasts suggest that India will soon become its fourth-biggest global market.

This would mean that the country will represent around 10% of worldwide sales.

Data sourced from Times of India/Silicon India; additional content by Warc staff