LG IS TARGETING 1000CR BY 2014

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Himendu Sinha of LG Electronics who has recently joined in place of Manikandan as a Business to Business Head, shares some of his strategies and challenges that he is facing and also the measures taken by him to avoid it, with ITVN. He also revealed that LG is planning to expand its business among all the small and medium sized business organizations as well as his target to reach 1000 Crore by 2014.

ITVN:  What kind of responsibilities do you have at this position within LG? What would be your biggest agenda for the coming months?

 HS: I have joined LG India as a Business Head B2B; I would look at a strengthening LG  position in the B2B solution space.

ITVN: What kind of verticals are you targeting, within the business community and what is your go to market strategy?
 
HS: We are focusing on Hospitality, Corporate, Retail, QSRs/Malls, BFSI, and Govt. & Education. We are taking a solution-centric approach. Our GTM is based on hybrid model.
Whereas on one side, we will keep   sensitizing the market directly with our offerings, on the other side we will keep developing the system integrators and solution providers community, we would like this to be a win win situation for all.

 ITVN: How do you look at the competition with regards to selling products and solutions for the business community?
           
HS:   Competition today is riding on the market demands generated by the growing economy and expanding infrastructure, which anyway will keep happening. We are going to create the niche market and hence the demand for solutions, which will be differentiators for the businesses.

ITVN:  What all challenges that lie ahead infront of the company and what measures are being taken to deal with those challenges?

 HS: B2B market is fragmented and buying happens through various media. We are consolidating the total addressable market size and devising the right market-mapping plans.We have a firm belief in adopting blue-ocean strategy. We will have to educate our partner community about our unique offerings.  We also need to show a clear ROI to the businesses to get      their buy-in.          

ITVN: How do you plan to target the upcountry locations of India with regards to small and medium sized business organizations?
                       
HS: Our Sales Teams are present in many class B and class C cities. We also will grow our partner community in these areas to address the SMB market.

ITVN: What kind of targets do you have from the business community for this year and predictions?
                        
HS: We have set our long term goals and wish to achieve INR 1000 crore by 2014.  The market is upbeat and is expected to grow at a rate of 20 percent.