India is one of the largest consumer markets in the world, with its population of middle-class consumers expected to reach 200 million in 2021 and 475 million in 2030. But it is a complex and diverse consumer market, and it is vital to tailor your marketing strategies and even your products to local preferences.
In addition to intense competition from both small and large local retailers and international companies, you must consider the diversity of cultural backgrounds, differing levels of wealth and sophistication, and the sheer size of both the population and land mass.
The best way to deal with the complexities of the Indian market for marketing and advertising purposes is to invest in and hire local knowledge. Both Indian and international companies specialise in marketing in India.
A comprehensive marketing plan that considers core elements such as your brand, stakeholder management, public relations, media (including digital and social media), and your product/brand value proposition is critical. Be aware, however, that you will need to continually reassess your marketing strategy and plan.
The Indian socio-economic environment is constantly evolving and changing, which in turn impacts on consumer choices.
Marketing in India
- Brand awareness
- Price consciouness
- Demographic dynamics
- Trade shows and exhibitions
- Product and service adaptions
- Brand marketing and advertising
- How to advertise and use media