FEATURES OF MARKETING IN INDIA : FEATURES OF MARKETING IN INDIA 1. CHARACTERISTICS OF 21ST CENTURY : 1. CHARACTERISTICS OF 21ST CENTURY 21st Century has following Distinct Characteristics :
Knowledge and Information Based Society —
High Mobility of Population from Rural to Urban Areas.
Reliance on Innovation & Creativity.
Conscious Society — Customer aware of his rights and obligations. EMERGING TRENDS : EMERGING TRENDS Emergence of Trade Blocks
Rapid Technological Changes
Entire World as a Global Economic Village 2. MARKET SCENARIO : 2. MARKET SCENARIO The entire world is like a Boundary less Global Economic Village due to I.T., Telecom &Transport Revolution.
Customer Needs, Wants, Desires, Values & Ethics are changing day by day .
Customer wants more options & alternatives.
There is a shift from "Sellers Market" to "Buyers Market". Slide 5: Organizations have to look for their Competitive
Edge & develop on their Strengths & Explore New Opportunities
LPG has brought leading MNCs of the World at
India’s door steps.
Competition is increasing and, therefore, Innovation & Creativity is the Solution & not the Price Cutting which Leads to Price War.
Organizations have to Offer Value Added Focused Services to attract customers. Organizations, therefore, : Organizations, therefore, Have to pursue :
Gain Competitive Edge & Advantages
Resort to BPR
Have Mind set for TQM
Down sizing by Air India by US$45000
Outsourcing - Make Vs. Buy Decisions
Innovation & Creativity is the Hall Mark Some Glimpses Of FutureEnvironment : Some Glimpses Of FutureEnvironment Sky City -210 storeys single building to
accommodate one lac population in Tokyo..
Space station to accommodate 64 tourists at 300 km above in space.
By 2030, satellite speed may go up to speed of light.
A single power ring to meet energy needs for the
30 km deep tunnel in earth to dispose of all critical
wastes available on earth.
Establishing life on other asteroids.
Train speed @8000 km/hr to cover New York to London in 51 minutes. Natural Factors in Favour of India : Almost 365 days of Sun Energy.
3000+ km long coastal line
Advantageous location of India on the world map.
All Natural reserves in plenty.
Human Resources in plenty.
Intelligent, articulate and language (English)
savvy Human Resource.
Therefore India is a ‘Sone Ki Chidiya’ Natural Factors in Favour of India India’s Strengths –Marketing Perspective : India’s Strengths –Marketing Perspective Huge resource base both human & natural
Inflation under check
Stability of govt. irrespective of ideology
Smooth transfer of power on Govt. changeover
Growth rate 7% in Q1 of 04-05
Adequate foreign reserves
Global IT Hub
Capable of providing food to many nations Weaknesses… : Weaknesses… • Fiscal deficit (inc.all states) over 10%.
• Population growth unchecked.
• Inadequate infrastructure.
• Reforms limited to Central Government-Federal
participation is absent.
• R&D base is very low.
• 27% Population below poverty line.
• High retirement age (60 yrs) for a populous country.
• Occurrence of floods & droughts.
• Unexpected high level of unethical practices.
• Complicated procedures & systems.
• Slow Judiciary. Present Market Scenario : Present Market Scenario Currently in India, the national economy and marketplace are undergoing rapid changes and transformation. A large number of reasons could be attributed to these changes. One of the reasons in these changes in the Indian Market Scenario is Globalization, and the subsequent and resulting explosive growth of global trade and the international competition. Slide 12: The other reason for these changes in the Indian Market Scenario is the technological change. This is an important factor because the technological competitiveness is making, not only the Indian market, but also the global marketplace cutthroat. Slide 13: In the Indian Marketing Scenario, the market success goes to those companies that are best matched to the current environmental imperatives. Those companies that can deliver what the people want and can delight the Indian customers are the market leaders. Slide 14: Today the companies are operating in such a marketplace where survival of the fittest is the law. 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. Slide 15: The Indian market is no longer a sellers market. The winner is the one who provides value for money. A large number of companies have huge idle capacities, as they have wrongly calculated the market size and installed huge capacities. This has further contributed to converting the Indian market into a buyers market. Slide 16: The Indian Marketing Scenario is one of the biggest consumer markets and that is precisely the reason why India has attracted several MNC’s. 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 Marketing Scenario, it is the MADE FOR INDIA marketing strategies that work THANK YOU : THANK YOU