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Introducing better technology: Anything Bajaj has made is always contended by-product for another
company. But now they need to do something that would be totally exclusive to them. They also
need to bring more technology into the lighting field to make it more eco-friendly and energy
efficient.
New and Innovative Products: Yes, Bajaj has lots of product in their range but they need more. They
need to make sleeker products that are more easy to use. Also, luxury electrical products are also
needed in the current Indian market. They can do this to have a better competition in the market.
Growth in its product line could increase demand.
Rapid urbanisation:
Rising demand for automation in household chores: With growing prevalence of working women and
nuclear
families the need for automation in household chores is
on a speedy growth. With higher disposable incomes due
to dual incomes, concept of modular kitchen and use of
modern appliance is gaining traction. ACs, refrigerators,
microwaves etc., are no longer the luxuries but have
become necessity tools of survival for the modern day
consumer.
Space constraints and rising percentage of nuclear families: The growing number of
nuclear and double income families will positively affect
the demand for consumer appliances. Moreover, constrained housing space, especially
in the big cities will make the concept of modular kitchen
more appealing in future thereby driving up the demand for
consumer appliances. Changing lifestyle preferences and
food habits would further fuel this trend.
Eco-friendly and energy saving products. : Bajaj should focus on making things eco-friendly and help
in innovating devices based on that. This is crucial in case of household lighting as other companies
have already started to focus on that field.