emerging trends in indian marketing b.v.raghunandan

Emerging Trends in Indian Marketing -B.V.Raghunandan

Govt. I Grade College, BarkurAugust 11, 2014

Indian Market

• British contributed to the creation of a national market• Western exposure during British Rule itself• Multi-religious, Multi-lingual, Caste Determined Rituals, Sub-

Castes• Regional Differences• Festivals and Consumption• Land of Shortages

Indian Production• Cottage, Small-Scale and

Family Run Business• A Few Large Scale

Industries like Cotton Textile Industries

• No Standardised Quality• License Raj• A Few Private Monopoly• State Monopoly• Import Restrictions• Chronic Power Shortage

Indian Consumer

• Head Strong• Argumentative• Price Conscious• Comparison• Low Brand Loyalty• Fixed Habits• Relationship

Marketing• Local Production

Indian Marketing• Value for Money• Universal Availability• Miniature Packaging

(Sachet)• Less Importance to

Customer Service• Less Importance to After

Sale Service• Ineffective Segmentation• Online Marketing: II

Wave

Indian Marketer

• Machine Gun Approach for Branding• Sale and Leasing of Brands are frequent• Value for Money Approach• Least Concern for After Sales Service until Polar and V-Guard• Unfair Marketing Practices for Market Domination (Marketing Villains)• Rational Advertisement• Marketing Reluctance

Foreign Marketer in India• Arrogant Marketers• Brand Building• Penetrating

Advertisements• Text Book Segmentation• Growth by Mergers &

Acquisitions• Inciting Family Feud for the

Competing Promoter• Spending for Market

Domination• Urban Bias for a Long Time

Lessons for the Foreign Marketer

• Adapt to the needs of the Customer and do not dictate terms or play on his psychology

• Rural Areas are the heart of Indian Marketing

• Mere dependence on Ads may bankrupt the promoter

• Environment Friendly Product are a Failure• Frequent discounts drive away the

customers• Value for Money is the best strategy• Conflict of Interest between Corporate

Objectives and Customer need is too expensive

• Online Marketing• Corporate Entry in

Retailing• Chinese Invasion• Quick Launches• Claiming Shelf Space• Increasing Consumer

Confusion and Loyalty• Dominant Impulsive

Buying• Too Much of Price

Differential lead to Post Purchase Dissonance

Emerging Changes

Challenges in Indian Marketing• Class Action Suit provided by

Companies Act, 2013• Getting Regulatory Approvals• Large Format Stores • Increasing Product Failure • Low Quality Ads (perversion)

and Ads attracting social reaction

• Getting Shelf Space for the Products

• Getting Loyal Dealership• Symbolic Surveys & Quicker

Data Perishability

THANK YOU