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IConic Electronic set to extend its leadership over to IT Audio Market

IConic Electronic Industries, involved in wireless communication systems and products, is to extend its leadership over to IT audio market. In an exclusive interview to IT Webquest, V. K. Mani, Founder and President, IConic Electronic Industries, reveals company’s plans for the Indian market.

IWQ: What all are the products offered by Iconic in the Audio market and which of your products is doing well?

Mr. Maini: Within the audio market, we have a whole range of products like DVD Players, Car Multimedia Players, USB/MMC Players, Home Theatre systems and Multimedia speaker systems. Products like DVD Players and Car Multimedia have always done very well, but Home theatre systems have shown tremendous growth potential within the past 3-4 years. Multimedia Speakers and Home Theatre systems, being an essential part of both IT Market and Electronics market has vast variety of customer base with diversity in demands and choices.

IWQ: Being a latest entrant in the IT audio market, what is the company’s strategy to take on competition from other players?

Mr. Maini: Iconic is a brand with vast customer base through its excellence in product quality. We entered this market as a brand for the niche expecting everything in the product, and that is why we were one of the first brands in India to introduce USB/MMC/FM Players in speakers. With a vast range of quality products, we are now entering into all segments of the IT Audio market. The brands new models are very different from the rest, which will make a huge impact and that is what we are looking forward to in this competitive market.

IWQ: Tell us about your geographical presence in India? Do you plan to open more offices?

Mr. Maini: Iconic is an omnipresent brand present in almost all parts of India through its various product categories. However, within the IT Audio market the brand is going with a state-strike strategy with focus on singular states at different time frames. Iconic has gained large markets in the states of Rajasthan, Gujarat, Maharashtra, Punjab, MP and Delhi. Yes, we plan to establish an office in at least 85% of the states by the end of 2012.

IWQ: what is the market trend you see in India?

Mr. Maini: Indian market is prompt, aggressive, demanding and cognizant. The customer is aware of the happenings in the market of the products they are buying. With the growing number of brands, increasing media exposure the customer is much more aware of the price and quality of the products. As of now, the trend is shifting towards quality products that are an “all-in-one package”. This is the reason for which it can be said that multimedia speaker systems will soon replace the existing multimedia players like USB Players and DVD Players.

IWQ: How have you structured the sales network in terms of competition?

Mr. Maini: As of now, Iconic has a very distinct sales network with or without company branches around India. The company keeps full trust on its CNFs and builds direct relationships with CNFs and super distributors of states. This gives the company distributors “a personal touch”. Iconic has been working and achieving monthly targets and this structure of sales has been helping it achieve such success. The company’s ASMs have tried to keep the company posted on any new activities in the market, while the distributors have been providing the company with every insight of the market. The large information base of the company and prompt actions has kept Iconic ahead of the market competition.

IWQ: What are your top 3 guidelines for Dealers to tap the Iconic potential?

Mr. Maini: Iconic is market oriented brand, so dealers are guided to work “In the market, for the market and with the market”. The dealers are the main information base for the company, so the dealers are requested to keep the company posted on any information bag collected by the valuable sellers. Last, but not the least, treat the customer above all. Iconic treats the customer as god and expects the same out of its dealers.

IWQ: In this soaring competition era, the price of a product plays a very vital role in augmenting its demand. Have you adopted any strategic Pricing policy so as to ensure performance and price goes evenly?

Mr. Maini: I wish I could deny the fact that this is a price-competitive market. This is a market where price comes first. However, Iconic has provided its customers more than they desire. Iconic has been able to prove much more price effective than any other smaller or larger brands due to its market-forecasting techniques. Also, Iconic has been able to persuade its buyers to buy few models at a higher price due to its innovative and newer products in the market. With our newer models coming into the market, we are expecting to rock the market from our highly attractive looks with features never seen before in the Indian market.”