Indian Marketing Environment
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
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