An Overview of the Indian Elevator Market
Since the liberalization of the Indian economy in 1991, there has been a great increase in the demand for elevators, also the government had imposed a ban on collapsible gate elevators, thus creating a path for international players to capture this segment. During this period Schindler was trying to establish at 100% subsidiary to start its operations in India.
Indian customers are considered to be price sensitive and majority of the market preferred single door speed elevators (65%) and then two door speed elevators (20%). Single door speed elevator is a type of elevator door which consists of horizontal sliding panel. Two door speed elevator on the other hand consists of two horizontal sliding panels. Price and simple products are the key factors that are taken into consideration for most Indian buyers, but after sale services too is becoming a major concern in elevator buying decision.
After liberalization there has been a growth in the tourism industry and an increase in foreign tourist and business visitors coming to India. This further leads to the growth of the hotel industry, which is the largest buyer of top line elevators.
The key players in the elevator industry are Otis (50%), Kone (8.8%), Bharat Bijlee limited (8.6%) and ECE industries limited (8.4%). Otis dominated the market, both from product and service point of view and it is also considered to be the most profit making firm in the elevator industry.
Elevator industry in India today
Given the annual growth rate of approximately 8.5% between 2006-07 to 2010-11 and a growth rate of approximately 4%-5% despite the global recession, the real estate market in India is growing at a steady pace and will continue to grow steadi...
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...elevators and 3 Schindler 5400 elevators in residential complex.
Another unique project which was undertaken by Schindler is Mumbai’s luxury hotel, Sahara Star. The structure of this hotel is circular in shape and is designed in such a manner that it looks more like a tropical natural reserve than just a hotel. A distinguishing factor about this hotel is its 3 unique elevators. These elevators were custom made by Schindler in Switzerland. These elevators are more often seen as an experience rather just a means of transportation by visitors. The custom-made glass panoramic elevators give a great view of the entire hotel, as the elevators move upward a wider area of the hotel can be seen. Also the elevators are designed in such a manner that when all the 3 elevators stop at a single floor, they form a hemisphere, a symbol that joins guests with a natural environment.
CAH manufactures and markets surface automotive hoists in North America. The company has successfully positioned its product as a superior offering and used extensive personal selling to promote and serve the product. Its strengths lie first in its superior product and the extensive product line. Additionally, CAH has design expertise and possesses four patents including one for the key safety feature. Second, CAH's sales force is essential to CAH's success. The sales force focuses on serving large ¡°direct¡± accounts and has been able to get approval from them. It established a distributor network across North America and has generated about 25% of annual unit sales. Finally, CAH's prominent reputation allows it to charge a premium when its competitors are mainly competing on price.
The easy availability of credit in U.S, Russian debt crises and Asian financial crises of late 90’s showed the way to a housing construction boom in the USA. The relaxed lending rules and increasing property prices along with the increase in foreign funds added to generate this real estate bubble.
Several large companies have focused on the multi-occupant vehicle market, specifically school bus production, in North America. Competitors within the school bus manufacturing industry consist of the Henlys Group PLC, a British based company, and two U.S. bus companies, Collins Industries Inc. and Navistar International. Henlys consists of Blue Bird Corporation, Prevost Car Inc., Nova Bus and TransBus International Ltd. Collins Industries operates seven vehicle companies including Collins Bus Corporation and Mid Bus Corporation that make up their school bus line. And finally, Navistar International, which also produces school buses, is divided into three principal industry segments. These segments are trucks/buses, engines, and financial services.
The construction bust has led the prices of new elevators to further drop by upto 7% in ’95. The market is dominated by the low-rise
The hotel industry performs within a saturated market, driven by customer loyalty and competitive pricing to stand-out. This competitive nature makes it extremely important to capitalise on strengths while improving on
In order to understand the concept of financialization and the housing market on the global and local level, one must know that there is a global pool of money that is simply the worlds savings bank. In 2000 the pool had $36 trillion and has since doubled in size (Blumberg 2008). Its most recent profit increase was a result of developing countries and cities such as India, Abu Dhabi, and China making money. This doubled the cash pool available for investments, but left fewer solid investments for the taking. The solution was residential mortgages and the US housing market. The investment managers thought the low-risk high-return investment in the housing market was a good, stable idea. The glo...
When prices increase, the quantity decrease (Graph 1) and new firms enter the market in order to make economic profits. However this does not mean the real estate agents or brokers earn more money. On the contrary, the prices they charge may increase, but the number of houses each sell do not change (Goolsbee, 2005, Online). From this it is evident that the price of products in the real estate market is not affected by the entry of new firms.
Market Size- India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanisation and attitudinal shifts. While the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent.
OTIS’s source of income is to be divided in two parts, as follows the development of the market. New markets, as China, mainly profits with new sales, e.g. 62,000 units of elevators and/or escalators were installed in China in 2002. Concerning the more mature and satiate markets, as Western Europe and the U.S., 75 % of the profit is provided service.
India is a land of wonderful and marvelous artistic work of wood which is being appreciated world wide. The rich Indian handicraft and beautiful traditional attributes of art and design have established a reputation of Indian Furniture Industry in the nation and worldwide to be appreciated by people. There are exceptional designs, rich, compact, and luxurious trends and, not the least, the supreme quality have given elegance to the furniture segment in the traditional as well as modern aspect.
The Hotel industry has become very important in the past years due to immense traveling and growth of international business. Hotel industry not only plays an important role in the life of people but as well as the economy of the country. Development and advancement in the Hotel industry have rapidly been taking place and especially since the rapid change in technology, it is very important for hotels to be promptly keeping up to date. When the hotel industry is spoken of, there are many famous hotels but one hotel company that has been outstanding in growth and other aspects of business, like in Leadership, Teamwork (Employee turnover), Motivation (Customer retention and satisfaction, Goals and objectives, (changing the way hotel business has worked), and Change within the company; structurally inside and physically outside, adding elements, like entertainment, gaming, and outdoor activities, is the Hilton Hotel Company.
Nations, like the people who inhabit them, are all different. Some, like the United States, are at the forefront of technology and development. Others exist as third world nations, where even the most basic necessities are hard to come by. And then there are those which are in the middle, such as India. In the past 20 years, India has grown in the eyes of the global community from a rural, developing nation to a burgeoning global marketing hub. While India had much guidance from the United States and other global powers, the country has still chosen to follow its own path of business and marketing development. This paper is designed to evaluate India's current marketing environment in comparison with the marketing environment here in the US, citing both nation's similarities and differences.
Also, the Oberoi hotels have come up with a distinctive way of becoming familiar with the tastes and preferences of their guests. It is noted that each guest who stays at an Oberoi hotel comes in contact with a staff member almost 42 times in a day. Hence, staff members have enough opportunities to determine the preferences and tastes of guests. Inputs are given by butlers, house-keeping and room-service boys which is fed into the centralised guest-history system of Oberoi Hotels. This system has profiles of over 11 lakh guests and includes minute details including their preference for room numbers with certain digits or for certain floors, types of pillows and beds and even their preferred type of flowers.
Introduction Real estate is a fixed, tangible and immovable asset in the form of houses or commercial property (Seldin & Richard 1985). Real estate market involves developing, renting, selling/purchasing and renovating of these assets (houses). Market participants include developers (contractors, engineers, and so on), facilitators (mortgage companies, real estate brokers, banks, management agents and so on), owners, renters (leasers) and renovators (Seldin & Richard 1985). Like other economic markets, real estate markets have internal and external forces that impact the market (Seldin & Richard 1985). Demand and supply forces have the major impact on the industry as they determine growth or decline in the market (Seldin & Richard 1985).
The overall industry saw a strong boom rate from 2010-2014. The global hotels & motels industry had total revenues of $677.1bn in 2014, representing a compound annual growth rate (CAGR) of 4.6% between 2010 and 2014. In comparison, the Asia-Pacific and US industries grew with CAGRs of 6.6% and 5% respectively, over the same period, to reach respective values of $163.7bn and $166.2bn in 2014(Global Hotels & Motels 7). The reason for this growth is due to the Asia-Pacific Region and Americas. The US alone with its world’s largest hotels/market has conquered net value growth, while China has literally doubled the revenue in the same time span. The leisure segment