Key Success Factors in Home Appliance Industry

Brand Image

Brand image plays an important role in selecting the product. Whenever consumer reached to a retailer he always has brand name in his mind, which is created through experience.

Quality

Product Quality is also a key success factor it includes eight dimensions of quality which consumers want i.e., performance, features, reliability, conformance, durability, serviceability, aesthetics and perceived quality.

Distribution

Distribution plays a vital role in success because when and where to market is very critical in the home appliance industry. If product is not distributed properly then the company will lose buyers (retailers and builders).

Technology

Latest technology plays a very important role in home appliances, it will help in introducing innovative product according to the demand of the consumer, and it will lower down production cost and improve quality of the product.

Economies of scale

It plays very vital role as the entire major home appliance manufacturers were heavily engaged in renovating and building production facilities to gain economies of scale. E.g., reducing labor cost and manufacturing cost.

Product innovation

Product Innovation is one of the major success factors in the home appliance industry. Different companies coming with different and innovative product like automatic washing machine, 2 door refrigerator, stylish and compact appliances that can be put in the kitchen etc.