OVEN/MICROWAVE/OTG

My class and I gifted a microwave to the school for farewell. I was thinking about it, and then I thought, what is the difference between a microwave, an oven, and an OTG? Do you know?

Here's what I found out - microwaves are best for quick heating and cooking, ovens are for baking and roasting with dry heat, and OTGs are a compact option for baking, grilling, and toasting. Each has its own unique uses depending on what you're cooking!

Let's delve into the market ---

MARKET TRENDS

The global microwave oven market size was valued at ₹79,980 crore in 2022. It is projected to reach ₹1,22,688 crore by 2031, growing at a CAGR of 4.8% during the forecast period (2023–2031).

The Microwave Ovens market in India is projected to grow by 2.53% (2024-2028) resulting in a market volume of ₹3,122 crore in 2028.

Shift in consumer preference from dining out in restaurants and fast food chains due to adoption of junk, high sugar food items is fostering construction of more quick service and fast food restaurants which is accelerating the demand for OTG in India .

STRATEGIES FOR DEALERS 

• Dealers can promote these products by collaborating with kitchen workshops and cooking shows to reach potential customers. 
• For advertising, they can also ask branding companies to provide capital to invest in advertising their brand. 
• Making creative and engaging displays can be very helpful. 
• Hiring skilled staff or organizing staff education programs related to these products would aid in getting more sales, as customers always want someone persuasive so that they feel like investing.

MAJOR PLAYERS 

1.Microwaves:

   - Samsung

   - LG Electronics

   - Panasonic

2.Ovens:

   - Whirlpool

   - Samsung

   - LG Electronics

3. OTGs (Oven Toaster Grills):

   - Bajaj Electricals

   - Morphy Richards

   - Prestige

These companies are widely recognized and have a significant market share in their respective segments.

DISPLAY IDEAS 

  

( Instead of washing machines it can be Microwave/Oven/OTG)

 

PLACES WHERE EACH ONE OF THEM IS USED 

1. Microwave:

   - Homes: Kitchens for cooking, reheating, and defrosting food quickly.

   - Offices: Break rooms for quick snacks or lunches.

   - Restaurants and Cafes: For reheating and quick cooking of certain dishes.

   - Hospitals: To quickly heat up meals for patients and staff.

   - Hotels: In-room facilities for guests to heat up food.

2. OTG (Oven Toaster Grill):

   - Homes: Kitchens for baking, grilling, toasting, and roasting.

   - Bakeries and Patisseries: For baking bread, cakes, pastries, etc.

   - Restaurants and Cafes: Used for baking and grilling various dishes.

   - Catering Services: To prepare large batches of baked or grilled foods for events.

   - Cooking Classes: Used as a teaching tool for baking and grilling techniques.

3. Oven:

   - Homes: Kitchens for baking, roasting, and cooking larger meals.

   - Restaurants: Professional kitchens for baking bread, roasting meats, and preparing large batches of food.

   - Bakeries: For baking various types of bread, cakes, pastries, and desserts.

   - Pizzerias: Used to bake pizzas in large quantities.

   - Food Processing Units: Large industrial ovens for mass production of baked goods or prepared meals.

Each appliance has its own unique functions and usage scenarios, catering to different cooking needs and preferences.

So, it was a brief about the difference between the three, market trends, major players, strategies for dealers, display ideas and places whre each of them is used so that we can reach the potential customers at perfect place . :)

UNTIL THE NEXT TIME, IT'S GEHNA MITTAL SIGNING OFF !!