The Consumer Marketing Division
Due to worst economic condition of the country, the purchasing power of consumers is declining badly. It is very difficult for the consumers to purchase the capital home appliances like refrigerators, televisions, microwave ovens and air conditioners. The competition for providing the capital home appliances on cheaper prices is getting tougher every day. Keeping in view the miserable condition of general middle and lower class customers in need of these necessities cum luxuries, the company has decided to launch consumer marketing for strengthening its market share in capital home appliances. Its basic function is to uncover the consumer needs, evaluate the requirements, prepare feasibility reports, analyze the prevailing market situation and send proposals to higher ups for finalizing the plans. The prime roles of this department include:
Promote the Sales
Ensure the 100% Recoveries
Arrangement of Agreements with Financial Institutions
Agreements with the Organizations
Providing the Products to the low income consumers
Improve the living standards of low income consumers
This department has been introduced in July 2003. Since date of its instigation, it has improved the sales of the company and as the agreements are made with financial institutions for direct financing to the customers, so there are no chances of bad debts and the recoveries are made before providing the product to the customer.
This department has improved the cash flow of the company and resolved all the problems of company in respect of financing. The company has started business with collaborations of different financial institutions like:
- Askari Commercial Bank
- The Bank of Punjab
- PICIC Commercial Bank
- Bank Al-Falah Limited etc.
But at present, Micro Marketing is being carried out with the collaboration of The Bank of Punjab only. The stock in trade has been reduced and without involving the third parties, the company is able to provide the products to the customers directly on cheaper rates. In this, the company is able to maintain the quality standards of its products, and getting direct feed back from the real consumers. The consumer marketing division has created a direct relation with the consumers.
Whenever the agreement with the organization and financial institution is finalized, the display centers and sales centers of PEL receive applications directly from the customers on prescribed formats. The applications are scrutinized and submitted to the financial institutions. The financial institutions generate loan for financing the customers and inform the company for delivery of products. The products are delivered to the customers at their residential place and informed to the financial institution as well as to the employer of the customer. The employer deducts monthly installments from salary of the customers and deposits monthly installments to the financial institutions.
The consumers financing department controls all the data and assists in all the operations of consumer financing to the company, the financial institution and the employer.
The CMD's Profile
Pak Elektron Limited (PEL) was established in 1956 for the manufacture of Capital Electrical Goods i.e. Transformers, Switchgears and Electric Motors. In 1978 Saigol Group of Companies purchased the majority of the shares and took over the management. PEL added Air conditioner in 1980 and Refrigerators in 1986 to its products. The consumer financing division was proposed in January 2003 and started in July 2003.
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