Electrical & Electronics

Industry : Our view

Electrical parts & electronic goods manufacturers compete based on superior product features & performance. However, successful companies are the ones who are able to effectively communicate the information to end customers. Most manufacturers depend on channel partners & retailers to engage prospective customers with product demo/sales speech etc to make sales conversions. Manufacturers spend millions for establishing brand & bringing customers to retailers. However, customers want to do lot of investigation before making buying decisions. Retailers have significant influence on what customers ultimately buy and many times, manufacturers compete within themselves to engage retailers. This significantly erodes margins & increase long term customer attrition risks.

In order for manufacturers to win over customers, they should be able to engage the customers directly, understand each customer needs & provide product features, performances information to assist in their investigations & help make informed buying decisions. Post sale engagement ensures long term success for manufacturers.

Study indicates about 10-15% electrical & electronics products sold are counterfeit with some products like printer cartridges are faked more. While fake electrical parts are major safety hazard, fake electronic goods give degraded performance. Counterfeits pose major impediment in building trusting relationship with customers.

Cormorant products help both in customer engagement & deter counterfeiters away.