Stiebel Eltron aims big after initial success in Laos
Thailand’s arm of Stiebel Eltron, a leading manufacturer of water heaters, water filters, hand dryers, heat and water pumps, foresees massive potential for market expansion in Laos following strong growth in recent years.
The German company, headquartered in Holzminden, has been distributing in Laos since 2014, and has recorded steady two-digit sales growth for four years, which is why it is ready to establish a strong presence in Laos by boosting brand awareness and increasing marketing. A continuation of this performance will see the company double its sales this year compared to the previous year.
Roland Hoehn, managing director of Stiebel Eltron Asia, said: “Stiebel Eltron is entering its sixth year in Laos, and with a steady growth rate, it is an opportune time for us to fully establish our brand as a household name in the electrical appliances industry in the local market as well as create a solid loyal customer base in Laos. Our strategy in moving forward is to generate brand awareness on a deeper level through direct marketing initiatives so potential customers can identify with who we are as a company, what we stand for and what we offer in terms of our unique product range.
“The main product we sell in Laos is water heater and we plan to introduce new models annually in Laos at the same time as in Thailand. Recently we launched water filters, hand dryers and heat pumps in Laos and received good feedback from customers,” Hoehn continued. “In order to become top consumer brand, we need to establish a solid brand presence and position Stiebel Eltron as a household name by prioritising customer engagement through targeted marketing activities and interactive events as well as continuously investing in social media as a marketing tool to amplify customers’ awareness. These marketing investments are expected to increase our retail consumer demands and help support our plans to expand our wholesale distribution network as well”.
In response to its success in Laos, Stiebel Eltron is planning to establish strong market presence and customer loyalty through strategic partnerships, project and sub dealer acquisitions as well as expanding product ranges and store locations. The company also aims to generate on-going awareness through increased marketing activities and events such as lucky draw campaigns, in-store promotions and online marketing, which is expected to boost retail sales in return.
This projected growth in Laos will help foster an expansion of the company’s market share and in turn reinforce its vision to become a top water heating, water treatment and water movement solution provider in Southeast Asia.
