INSIGHTS ON THE INDIAN CONSUMER
1. The Middle Class
The middle class, dubbed by many as ‘aspiring India’, is the largest economic class in India. It forms the customer base for most of the business in the country. It is currently somewhere over 350 million – more than the size of the population of both Germany and France combined – and is growing at an estimated 40-50 million a year. It would be idiotic to ignore this opportunity. Thus, special attention should be given to the consumers in this class. Marketing efforts, especially advertising, should be targeted to these consumers.
2. Credit Purchases
The middle class Indian consumer normally lives in a fixed income and s/he has to manage his/her finance in a rigid budget. Nowadays, practically everything is made available to him/her on installment payments. The availability of credit facilities acts as a temptation to buy. The consumer’s desire for bringing home more and more material comforts is realized by the availability of such credit facilities. The system of "credit cards" is growing in the country at a very fast rate. It is expected that in the near future, Indians will be the biggest users of credit cards second only to America. These purchases are generally acquisitive in nature. It is logical that as the number of these credit facilities being made available by the banks and other financial institutions increases, so does consumer spending.
3. The Middle Class Housewife
The middle class man is greatly influenced by his wife especially on his buying decisions. The middle class housewife is generally educated and is the purchasing agent for most of the products the family buys. There are certain buying decisions that are made by his wife solely. She is also the "gatekeeper" for many products like toiletries, food, beverages and the like. Moreover, she also decides purchases meant for the children. In the same manner, marketing efforts, especially advertising, should be...
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