MIRC Electronics, the promoters of Onida, as finalised an entirely new advertising campaign in line with India's changing demographics bidding adieu to the 'Devil' that has been its brand image for decades.
The new campaign will showcase the surprising thoughtfulness behind Onida's products from the eyes of today's young couple, personified by fictional new-age pair Siddharth and Ritu, who share a loving yet 'chatpata' relationship.
Onida VP-Sales, Service and Marketing, Sriram K, who was here to unveil Onida's new advertising campaign, told reporters that the firm is aiming to increase its turnover from Rs 1,600 crore last year to Rs 2,000 crore this fiscal.
"This campaign will be responsible for it (driving growth)," he said.
"With this campaign we are looking to project ourselves as a multi-category brand," Sriram said, adding, the company was planning a significant revamp within its existing product line.
It is also likely to enter the mobile phone segment by next year. "As far as mobile phones are concerned, we are at a pilot stage. This is the learning year for us. We are likely to enter the segment next year," Sriram.
He said the firm has hiked its advertising and promotion budget from Rs 50 crore last year to Rs 100 crore this year.
To a query whether the company was planning to raise funds from the market, MIRC MD Vijay Mansukhani said the company was not considering any such measure in the near future.
"We're a cash rich company," he said.
