Mumbai, Maharashtra, India
Frost & Sullivan, a global growth consulting company, hosted the Voice of Customers - Industry Excellence Awards in the Indian Automation and Gensets market, the first of its kind for the industry in India, held recently at Bangalore. On this occasion, Honda Siel Power Products Limited was conferred Frost & Sullivan's Genset Industry Excellence Voice of Customer Award for Most Preferred Brand - Commercial and Small business segment (less than 5 KVA) for 2007.
Based on detailed end-user research and customer feedback on various parameters, 31 award titles were presented to companies in recognition for their pioneering efforts with regards to their product lines, innovative distribution strategies, customer service and support par excellence, outstanding contribution to the industry or for achieving a competitive or customer-based leading position in the Indian Gensets and Automation Industry.
On receiving the award, Mr. R P Mehrotra, Sr. GM (Sales and Marketing), Honda Siel Power Products Limited, said, "The reward is a recognition of the consistent customer 'JOY' in terms of owning a 'HONDA' product, which is backed by the most advanced technology, production processes and superlative service, both during and after sales." He further added, "Honda is committed to bringing joy into the lives of customers through innovative, reliable and technologically advanced power products in India. We have plans to launch other products, which will help make life more enjoyable for Indian customers."
According to Mr. Amol Kotwal, Industry Manager, Energy and Power Systems Practice, Frost & Sullivan, "Honda Siel Power Products operates in a very niche segment of the Indian Genset market. Market penetration, robust product performance and customer's brand loyalty have resulted in the company achieving recognition of the most preferred brand in the small and commercial business segment."
The Genset market in India is valued at more than INR 50 Billion. A booming economy and increasing power demand-supply deficit act as major drivers for this market. The Indian Genset market is uniquely positioned to traverse on this growth trajectory. Frost & Sullivan expects it to grow at a compound annual growth rate (CAGR) of more than 15 percent between 2007 and 2012. With increasing competition between incumbents and new players, customer feedback and satisfaction assessment (Voice of Customer) provides insights on how companies are placed in this market from an end-user perspective. Customers' high degree of preference and satisfaction with a brand reflect the Best Practices followed by companies in setting the benchmark of excellence.
Frost & Sullivan followed a rigorous methodology for selecting Award recipients. Detailed end-user/customer interviews with key decision makers (drawn from relevant functional departments) from various industry segments were conducted. These interviews were executed across various locations in India using a questionnaire. Respondents assigned ratings on a 7-point semantic scale reflecting their satisfaction on various attributes within a given criterion. Weightages were assigned to different criteria based on their perceived importance. Winners within a category were selected using powerful statistical analysis to compare the aggregated scores on attributes and rank assigned to different brands for relative positions.
About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com
About Honda Siel Power Products (HSPP)
Honda Siel Power Products (HSPP) is a subsidiary of Honda Motor Company, Japan with a turnover of Rs. 250 Crore(1). HSPP is involved in manufacturing and marketing a range of "4-stroke" Portable Gensets, Water Pumping Sets and General Purposes Engines, besides marketing Lawnmower and Brushcutter, under the brand name 'Honda', at its state-of-the-art manufacturing facilities at Greater Noida, Rudrapur & Pondicherry. HSPP enjoys a substantial 72 percent market share in Gensets and 21 percent in Water Pumps. With a strength of over 700 dealers and 15 Area Offices spread across the country, HSPP has been bringing joy and satisfaction to more than 1.5 million satisfied customers. For more information about Honda Siel Power Products, visit www.hondasielpower.com
(1) Year ended 31.03.07. Rounded off.
Source: Business Wire (Business Wire India)
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