Indian Marketing Environment
Indian Marketing Environment
For Global marketers India is not just a single country, it is further divided into tow different countries. India and Bharat. India is looked and appreciated by the whole world. It is growing at the second fastest rate, Its a outsourcing hub, skilled workforce, Nuclear and space power and everything to become a world power. On the other hand, Bharat invovles poverty, Illetracy at high levels, Corruption, Mismanagement, Violnce between releigions and like that. So in this way whosoever desires to enter in the indian market must realize both the faces of this country. They should realize the serious challenges of doing business here like segmenting the market properly, Understanding country's social and cultural issues, getting through government beaurocracy and understading economic and political situation. There have been bunch of examples of companies who have tried to enter in Indian markets without taking care of these issues and have failed badly. Now before understanding Indian Marketing Environment, it is important to understand what is Marketing Environment. Marekting Environment consist of factors and forces outside or inside the organzation that affect its business in the market. The marketing environment is divided into tow different environments. 1) Micro Environment: It consist of factors lose to the company that have a direct impact on the organization strategy. This includes company's suppliers, distributors, customers and competitors. 2) Macro Environment: It consists of larger societal forces. An\d these are beyond the control of the organization. These shape the characteristics of the opportunities and threats facing a company. For example, Economic, Cultural, Political, Demographic and Technological. Demographics Environment
It is the study of the peoplein terms of their age, gender, race, ethnicity, and location. Demographic characteristics strongly affect buying behaviour. The current population of India is 1.18 billion and it is the seond most populous country in the world next to China. And it is being projected that by 2010, it will overtake china with 1.53 billion. Obviously that's not a good news but for marketers there lies lots of opportunities. Fast growth of population accompanied with rising income means expanidng markets. And among this 1.18 billion population, more than 50% are below 25 years of age. and that is the reason why why tere is tough ompetition in the area of soft drinks, networking sites, stylish mobile handsets, job portals and all. Estimated in 2008, around 71% population lives in rural areas even after so much migration to urban cities and that is the reason why low cost brands have started targeting rural cummunityites. They put Camps, Haat in melas to promote their products. Literacy rate, as estimated in 2009, for men it was 76.9% and for women it was 54.5%, thoug there is still wide gender disparity, but it has been observed that growth in women literacy rate is more than men's. So women is another big target for marketers. Specially for home based products, as we know women is the chief person to select them for her home. Now, In India diffrent behaviour of diffrent age group has been observed which is mentioned below. Adolescents: The new-age teens are marketers delight. They do no earn but they are fond of spending. They spend lavishly on clothes, eating out, latest gadgets and are very keen t keep up with their friends in terms of possessions and lifestyles. They do not feel guilty of spending their parents money and put pressure on their parents to shell out money for them. They feel they need to have a life of their own, and it should not be denied to them just because they are not earning. Youth: The current youngsters are growing in a more media-influenced, brand conscious world thn their parents. Companies have to take their messages to the places where these youngsters frequent, whether on the internet,...
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