The refrigerator in question has met with initial success. It has been lapped up by the trade and, going by the consumer demand , the company is ramping up production by 150%. However , another important reason behind Godrej relying on innovation to create a market dissonance is to do with the presence of large multinational competitors in consumer durables. "We have to deal with the might of the MNCs and thus we have to create a differentiator like this refrigerator with a radio to attract consumers," says Menezes.
In some global markets, Korean consumer durable major LG had experimented with a refrigerator with an LCD television . Experts believe that more consumer need-based innovations are coming into the market because of changing lifestyles . The Living Room, a chain of furniture stores based in Mumbai , recently advertised a bed which could be rolled up into a study. The product has been designed to give the owner a sense of space in a small room apartment.
