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Famous American philosopher Eric Hoffer once said, “It is often the failure who is the pioneer in new lands, new undertakings, and new forms of expression.” No matter how germane it may sound but it’s certainly not the pervasive truth. In fact, at times it’s the pioneer who eliminates the fear of failure, all by making way for others in an unfamiliar terrain. If not many, Pioneer India Electronics Pvt. Ltd. (PIEL), a subsidiary of Pioneer Corporation, Japan, is surely one that believes in testing waters when the tide is high.

After establishing a representative office in India in 2005 and collaborating with Autocop India the very next year, Pioneer has finally made a full-fledged entry into the Indian market. Much to an extent that the company is even eyeing a turnover of Rs.5 billion from its Indian operations by the end of 2010! But then the moot question is what makes them do so, particularly at a time when the Indian auto industry is being marred by shrinking sales and bleeding bottomlines? Isn’t it wrong timing? or, as many fear, is it just for the namesake? “I don’t think so! India is going to witness Commonwealth Games in 2010 and by that time the market would be at its peak. But yes, the initial six months or a year are a bit challenging because of the global turmoil,” counters Takashi Yoshida, MD, Pioneer India Electronics. In fact, by entering India, the company is even eying a respite from the global turmoil that has forced it to anticipate an operating loss of $178 million for the year ending March 2009. As Sumit Arora, Associate Director, Synovate India puts it, “Pioneer has made a perfect move and that too at the right time as the Japanese market is quite saturated. Moreover, the company also faces a fierce competition in their home market. Thus, moving to India is the right strategy for them currently.”

The company has already injected about Rs.160 million in the new subsidiary in India. It also plans to spend $3 million on its marketing activities in the country and has even roped in Shahid Kapur as its brand ambassador. “Pioneer has been in India for long but we still don’t have a brand image. As such we wanted to have a brand face that relates to the product,” reasons Yoshida. It seems that the company has certainly rolled its sleeves to capture every bit of the Rs.12 billion in-car entertainment market in India. But that’s not the only domain where the company is upbeat about growth, it is also riding piggyback on the consumer electronics category, which includes products like Plasma’s, DVD Players, Surround Sound Systems and Home Theaters components, et al.

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

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• Rashmi Bansal (Publisher of JAMMAG)