Need gap analysis and new product development for storwels; Godrej and Boyce MFG. Co. Ltd.

Abstract

We are not in the Storwel business but in the Storage business. Godrej holds only 5% of the annual industry sales of around 20 lakh units( though it’s share of the organized sector amounts to 50%). The annual market growth rate is only 5% p.a but Storwel sales have declined steadily over the years and are at the present level of 1 lakh units p.a The Harketing Strategy for the Storwel division involves expanding the market through the introduction of new Product ranges to counter the loss of market share to regional niche players. The objectives of this project were to assess the storage needs of household and office units and to find any usage, product gaps that exist.