questions on innovation?

Mr. S Thakar, president of Thakar Manufacturing Company (TMC), and Mr.K.Mirachandani, Vice-President, were discussing how future economic conditions would affect their product, which is vacuum cleaner. These vacuum cleaners are very popular items sold in the local as well as regional market. They were particularly concerned about inflation, which was causing their costs to increase at an alarming rate. The input material costs had gone up. TMC had increased the prices of their products last year (by 10%) and felt another price increase would have an adverse effect on sales. There were at least 5 known competitors in the market. Besides, there are at least 20 other local brands available in the market, mostly labeled as coming from an unorganized sector. TMC wondered if there was some way to reduce costs in order to maintain the existing price structure and yet be competitive. The product is targeted at the middle and upper middle class. The middle class segment is highly price sensitive. Suggest ways to fight this situation. some innovative ideas, cost cutting, saving costs for the company.

Asked By: venkat s - 4/11/2009
Best Answer - Chosen by Asker
Being an experienced Electronic Engineering Technician, at... More
Answered By: joseph - 4/11/2009
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