The second most populous country in the world, India is the land of opportunity. A robust economy, rising disposable income and a stable political environment presents a lucrative opportunity for both domestic and international companies. However, entering and engaging this market has remained a challenge due to diverse nature of consumer market and buying habits.
India – Land of Billion Opportunities
The total wealth of India has tripled in a decade to $3.5 trillion and is expected to double again in the next 5 years. With population expected top well over 1.50 billion by 2050 from the current 1.16 billion; the number of people living in the cities is expected to increase to 590 million by 2030 from the current 340 million, while 180 million new workers are expected to get added into India’s work force by 2030. With rising per capita income, India is a market that no business enterprise can ignore for long.
Key Ingredients to Succeed in India
A strong understanding of the market, its varied cultures, differences between regional consumer behavior and between urban and rural consumers, and that aggressive price competition is a given.
And perhaps, taking a cue from those who have made successful entry in the past, you should enter with India specific product or service offerings and adopt India customer sensitive marketing strategies. What worked for you in other parts of the world may not always work here.
To aid your entry you also would need a well qualified, aggressive local partner who can be your eyes & ears during your entry phase and help build strong brand visibility, leverage and customer connect over both short and longer term.
Our India Market Entry Services
- Market Opportunity Assessment
- Competitor Insights
- Consumer Behavior Trends Studies
- Product / Market Fit Analysis
- Analysis of Regulatory Framework
- Management of visit of company executives to India
- Defining the Sales & Marketing organization for the company in India
- Comprehensive Go-To-Market (GTM) strategy with detailed brief on sales and marketing strategy
- Identifying & Engaging with Suitable Distribution/Channel Partners