The various steps of growth of one of the most successful home appliances brands of UAE, Venus, was very well planned, strategised, scrutinized and implemented with utmost care, resulting in run-a-way successes. Its fifteen - year existence in the UAE, one of the most competitive and dynamic markets in the world, proclaims its strength and popularity.
The development of Venus
The promoters of Venus, M/s Jacky's Electronics, had a vision of developing a world class appliances brand, which would offer high quality products, at a price which was affordable to the lower income to the upper middle income segments in the market. Eleven years ago when Venus was born, the market was generally dominated by various Japanese, European and American brands, which were highly priced and were not as affordable to the above-mentioned segment of the customers. At the other end of the market, there were several low-priced, unbranded products available, which were generally known to be of inferior quality and did not offer any after sales service to the customers.
Jacky's was eager to serve the discerning customer and saw an opportunity to carve out a nice for itself. As a result, they decided to launch Venus, which offered an alternative to the options available at that time.
Market leadership by tapping the opportunities
At a time when Japanese, American and European brands dominated the market, there was a vacuum existing in the customer segment for the lower class, lower to upper middle income segments, who seldom could afford to spend high prices to own a high quality refrigerator, freezer, washing machine or a cooking range. Venus was targeted at those segments that wanted to own appliances of their choice, but prices they could afford, without a compromise in quality. Venus offered that choice - as a brand for cost and quality-conscious customers. Customers whole heartedly accepted and accrued to this fantastic and affordable offer, which made Venus one among the front.
The customer segment targeted was as discussed above. In due course, products with ultra modern features were introduced in order to appeal and attract the affluent part but the focus was still on lower to upper middle income segments. Today, Venus products, appeal to various customer segments in the domestic as well as international market.
Strengths on which the brand built its reputation
Venus promised to offer customers high quality products at reasonable prices. Apart from that, the other promise that we could offer and fulfill was about the range of the products/model line-up. Today Venus has one of the widest product ranges among other OEM brands. Customers can choose from a wide variety of products/models, which are of high quality and reasonably priced. This is due in large part of the fact that, Venus has been very selective in choosing suppliers since it have never wanted to compromise on quality.
Venus in international markets
Venus has a large customer base in overseas markets namely Asia, Africa and Europe. Dealer/distributor networks were developed in various countries, and products suitable for each country were identified and respective products were introduced to match differing customer preferences. This strategy of offering customized, region wise and climatized products appealed to the overseas customers and helped in widening the Venus overseas customer base.
Dealer network within the UAE
Venus has also invested heavily in establishing a strong dealer network within the UAE. Covering all major emirates including various upcountry or distant markets like Al Ain, Fujairah, Umm Al Quwain, Ras Al Qaimah, Dhaid, Masafi, etc., Venus has made sure it has made its products available to the target customer base wherever they may be.
Venus is one of the most preferred and easily identified home appliances brands within the UAE, and its brand recall factor was among the highest. The study also revealed that Venus is one of the most recommended brands in the home appliances segment, which was attributed to Venus' image as a brand that offers products that are more than 'value for money'. All this reaffirmed that customers perceive Venus as a steady brand, which in turn suggested that the health of the brand is more than satisfactory.
Apart from retail and distribution, residential/office/hospital/hotel/resort projects, business and educational institutions have recognized and approved Venus as their choice for home appliances, including EPPCO and Gulf Medical College.
The Venus brand is positioned along with medium range brands like L.G, Samsung, Daewoo, Super General, Supra, Westpoint, Aftron etc. Venus was always meant for lower to upper middle-income segment of customers. Products under the Venus brand are loaded with features that are popular and are of high utility. Thus, Venus could be accurately termed a 'value for money' brand that offers maximum utility at a reasonable cost.