OVERVIEW OF THE INDUSTRY.

The consumer durable products industry refers to the manufacturing and sale of goods that
are expected to last for an extended period, typically more than three years. These products
include appliances such as refrigerators, washing machines, and air conditioners, as well as
electronic goods such as televisions, smartphones, and laptops.
The industry is characterized by the production of goods that are generally expensive and
bought infrequently by consumers. As a result, the industry is heavily reliant on consumer
confidence and economic conditions.
Consumer durable products are sold through a variety of channels, including brick-and-
mortar stores, online retailers, and direct sales. Major players in the industry include
companies like Samsung, LG, Whirlpool, Apple, and Sony.
The size of the consumer durable products industry varies by region, but globally it is a
multi-billion dollar industry. According to a report by Statista, the global consumer
electronics market was valued at $1.1 trillion in 2020, while the global home appliances
market was valued at $337 billion.

MAJOR COMPANIES OF CONSUMER DURABLE INDUSTRY.

 Samsung - a South Korean multinational conglomerate that produces a wide range of
consumer electronics and appliances, including smartphones, televisions,
refrigerators, and washing machines. Samsung is one of the largest electronics
manufacturers in the world, with a significant global market share.

 Apple - an American multinational technology company that produces consumer

electronics, including smartphones, laptops, and tablets. Apple is known for its
premium products and strong brand image.

 Sony - a Japanese multinational conglomerate that produces a wide range of

electronics and appliances, including televisions, gaming consoles, and home theater
systems. Sony is known for its innovative products and strong brand recognition.
PRACTICES ABOPTED BY SAMSUNG, APPLE, SONY FOR PROSPECTING AND
CUSTOMER ACQUISITION.
The best practices adopted by leaders in the consumer durable industry for prospecting and
customer acquisition vary by company, but here are some examples:

 Samsung - Samsung uses a variety of marketing channels, including television ads,

social media, and influencer partnerships to reach potential customers. The company
also invests heavily in research and development to stay ahead of the competition
and produce innovative products that appeal to consumers.
 Apple - Apple has a strong brand identity and uses a variety of marketing techniques
to reach potential customers, including television ads, social media, and in-store
experiences. The company also invests heavily in research and development to
produce innovative products that appeal to its target audience.
 Sony - Sony uses a variety of marketing channels to reach potential customers,
including television ads, social media, and influencer partnerships. The company also
offers a range of financing options and customer support services to help customers
make informed purchasing decisions.
Overall, the best practices adopted by leaders in the consumer durable industry for
prospecting and customer acquisition include a strong online presence, investing in research
and development, offering financing options and customer support services, and using a
variety of marketing channels to reach potential customers. These companies also focus on
building a strong brand identity and reputation to differentiate themselves from the
competition.

RETENTION STRATEGIES OF SAMSUNG, APPLE, SONY.

Here are some of the major retention strategies adopted by Samsung, LG, Whirlpool, Apple,
and Sony:
Samsung:
1. Continuous innovation: Samsung continuously innovates and improves its products
to provide customers with the latest technology and features.
2. Customer service and support: Samsung has a dedicated customer support team to
provide technical assistance and support to customers.
3. Brand recognition: Samsung invests heavily in marketing to maintain its brand image
and recognition.
4. Product quality: Samsung emphasizes the quality of its products to ensure customer
satisfaction.
5. Loyalty programs: Samsung offers various loyalty programs that reward customers for
repeat purchases and provide exclusive offers and discounts.
Apple:
1. Product quality and innovation: Apple continuously innovates and improves its
products to offer high quality and innovative features.
2. Customer service and support: Apple has a dedicated customer support team to
provide technical assistance and support to customers.
3. Brand recognition: Apple invests heavily in marketing to maintain its brand image and
recognition.
4. Personalization: Apple uses customer data to personalize marketing campaigns and
offers.
5. Loyalty programs: Apple offers various loyalty programs that reward customers for
repeat purchases and provide exclusive offers and discounts.
Sony:
1. Product quality and innovation: Sony emphasizes the quality and innovation of its
products to ensure customer satisfaction.
2. Customer service and support: Sony provides comprehensive customer support and
after-sales services to ensure customer satisfaction.
3. Brand recognition: Sony invests heavily in marketing to maintain its brand image and
reputation.
4. Personalization: Sony uses customer data to personalize marketing campaigns and
offers.
5. Loyalty programs: Sony offers various loyalty programs that reward customers for
repeat purchases and provide exclusive offers and discounts.