Dedicated to Prof.Javed..........by Akash Manwani
Currently in India, the national economy and marketplace are undergoing rapid changes and transformation,as economic pressure is increasing vulnerably A large number of reasons could be attributed to these changes. One of the reasons in these changes in the Indian Market is Globalization, and the subsequent and resulting explosive growth of global trade and the international competition.
The other reason for these changes, in the Indian market is the continuous technological changes. This is an important factor because, the technological competitiveness is making, not only the Indian market, but also the global marketplace more and more competitive.
In the Indian Marketing Scenario, the market success goes to those companies that are best matched to the current environmental conditions and moving ahead as the situation demands. Those companies that can deliver, what the people want and can delight the Indian customers are the market leaders.--------as ultimately CUSTOMER IS THE KING…!!
In order to win, the companies are coming out with various new and evolving strategies because, the Indian market is also changing very fast. It is to capture the Indian market, that the Indian and the Multi National Companies are using all of their resources.
The Indian market is no longer a sellers market. The winner is the one who provides value for money……..I mean who delights the end user………..!!!.As we see, in pune itself that large number of companies like TATA.GM,HERO-HONDA,BAJAJ have huge idle capacities, as they have wrongly calculated the market size in this recession time and installed huge capacities . This has further contributed to converting the Indian market into a buyers market.
The Indian Market is one of the biggest consumer markets and that is precisely the reason why India has attracted several MNC’s………….take it from me-----IF NOT DONE BUSINESS IN INDIA, THAN IT SIMPLY MEANS YOU HAVE NOT DONE BUSINESS AT ALL.As we are the emerging economy which is fruitful for MNC’c. These large Multi National Companies have realized that to succeed in the Indian market-place they need to hire Indian representative who are much more aware of the Indian economic, political, legal and social realities. In the Indian Market,it is the MADE FOR INDIA marketing strategies that work…..
That is why Think Global and Act Local………..!!!!!
3 comments:
Made for India" is increasingly becoming a coveted tag these days. This is a far cry from the early days of liberalisation when many companies came in with their older (often discontinued ) models with a misplaced confidence that Indian consumers were just waiting to lap it up . But a rude shock awaited them with them the harsh truth that Indian consumers were as discerning as their counterparts in the other parts of the world . Even luxury brands like Merc have learnt their lessons and today their product portfolio has their latest offering, learning from their hard experience of consumer rejecting the initial model which was being used mostly as a taxi in New york, though it will be a long time before they start thinking about making cars for specifically Indians.
This interest of developing products specifically for Indian market has been around for some years now, though with the global financial turmoil we might be one of those few countries with any growth left. One company which has done this seriously is and achieved substantial success in India is Nokia. Nokia 1100 was one of its first mobiles to designed exclusively for Indian markets. The torch light , unique grip were introduced specifically to cater to the specific needs of Indian consumers, weather and usage. The latest is the proposed introduction of ' Nokia Life Tools' service would be an additional service with focus on e-mail, agriculture and education which would enhance its standing in the Indian market.
Coming back to automobiles, we have been waiting for a long time for the Toyota Indian car, but the company is taking its own time to come up with it. Latest is MUL which says it will come up with a its first made in India car by 2010-11 and ford has also been planning to come up with a small car for both Indian as well as export markets. And Nano has brought a lot of interest in low cost cars and many companies want to develop such cars for the Indian market.
We have come a full circle of days when people spoke about only global products to localisation to developing products exclusively for a market, in the next part we will look at a few more examples of MNCs which had to develop products exclusively for Indian markets...
Continuing on the same theme of my previous post, other companies which have developed products exclusively for Indian markets......
best manager u hv tried this in an xcllnt wayy..its really a gr8 and sensible approach..that Doing Business in India is a must fr all and this recession has proven it asa test of time that all indian companies have outperformed with their counter parts.
keep it up!!
Manoj
Made for India" is increasingly becoming a coveted tag these days. This is a far cry from the early days of liberalisation when many companies came in with their older (often discontinued ) models with a misplaced confidence that Indian consumers were just waiting to lap it up . But a rude shock awaited them with them the harsh truth that Indian consumers were as discerning as their counterparts in the other parts of the world . Even luxury brands like Merc have learnt their lessons and today their product portfolio has their latest offering, learning from their hard experience of consumer rejecting the initial model which was being used mostly as a taxi in New york, though it will be a long time before they start thinking about making cars for specifically Indians.
This interest of developing products specifically for Indian market has been around for some years now, though with the global financial turmoil we might be one of those few countries with any growth left. One company which has done this seriously is and achieved substantial success in India is Nokia. Nokia 1100 was one of its first mobiles to designed exclusively for Indian markets. The torch light , unique grip were introduced specifically to cater to the specific needs of Indian consumers, weather and usage. The latest is the proposed introduction of ' Nokia Life Tools' service would be an additional service with focus on e-mail, agriculture and education which would enhance its standing in the Indian market.
Coming back to automobiles, we have been waiting for a long time for the Toyota Indian car, but the company is taking its own time to come up with it. Latest is MUL which says it will come up with a its first made in India car by 2010-11 and ford has also been planning to come up with a small car for both Indian as well as export markets. And Nano has brought a lot of interest in low cost cars and many companies want to develop such cars for the Indian market.
We have come a full circle of days when people spoke about only global products to localisation to developing products exclusively for a market, in the next part we will look at a few more examples of MNCs which had to develop products exclusively for Indian markets...
Continuing on the same theme of my previous post, other companies which have developed products exclusively for Indian markets......
best manager u hv tried this in an xcllnt wayy..its really a gr8 and sensible approach..that Doing Business in India is a must fr all and this recession has proven it asa test of time that all indian companies have outperformed with their counter parts.
keep it up!!
Manoj
the article is really good but i want to ask simple question that how easy for the company to expand their market in abroad and what are the implication for doing the same for the company ,i mean threat for the company for the expansion .please clear this by giving a current example ABHISHEK
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