Onida has brought back its iconic devil and owners pride campaign, now planning to reignite the brand image in the minds of people through big investment in advertising.
According to information from a top company official, the company is strategically revamping its operation after coming back into the black after two years.
Onida is an electronic brand of Mirc Electronics, has plans to spend around ₹40 crore on advertising for making ‘devil and owners pride’ campaign as a brand face. This campaign will cut across all the product segments – be it TV, Washing Machine, AC and Microwave.
Mr. Vijay Mansukhani, MD of MIRC Electronics said, “Continuous focus on advertising year on year basis is going to take our brand to the next level and will reach out to every household in the country. We would like to reignite our brand in the minds of people who had lived this brand for more than 30 years.”
Besides, Onida expects its overall revenues to grow by 10-12 per cent CAGR (compound annual growth rate) for next three years as the company senses a great opportunity in the domestic market on account of low penetration.
Onida had successfully run its 'Neighbour's envy, owner's pride' campaign with the iconic 'devil' in the 90s. But unfortunately, the brand could not keep up with competition from the multi-national firms such as Samsung, Sony and LG.
Onida spent around ₹25 crore and another ₹10 crore on other mediums like print and online for devil campaign’s brief appearance in the IPL last year.
Talking about expenses, Mr. Mansukhani said, “During the current financial year, we intend to spend about Rs 35-40 crore towards advertisements based on our budgeted allocation of 5 per cent of total expenses. Investment share pertaining to the digital side will be greater as we focus on the new millennium.” Mirc Electronic is revamping its operation as part of its turnaround strategy.
Talking about revamping its operation, he said, "We have been strategically revamping our operations and building ONIDA brand as a part of our turnaround strategy. Our efforts in gaining market shares, re-branding, cost control and improving efficiencies in our operations through automation started turning the things around for us.”
He said The Company is expecting overall revenues for the company to grow by 10-12 per cent CAGR in next three years. The company is also expanding its sales network. "We have currently 4,000 dealers spread across India, and we are adding 1,000 more dealers and small and medium shops every year in metros and mini-metros to expand our presence," he said.
Here are some of the famous ads from Onida