“Sun Rises in the East” is a universal truth once again in India as the country continues to be a land of opportunities. The world market sentiments seem unable to beat the surprise of large, new pockets of consumer activity. It is based on statistics that 72 % of India’s population is below the age of 40 and 47% of Indians are under the age of 20. This indicates that population will create the consumption pattern for India in the future. The higher the consumption, the more opportunities of investment and gathering a higher amount of market share. Global conglomerates setting manufacturing plants and point of sale in India makes the vision for growth clear.
With large opportunities come a large number of choices for the consumer, which brings up an uphill task for the marketer to “sell”. The large growth canvases provided by the metros have already been highlighted, which indicates it is time for marketers to set sights beyond for traction. Here are four exciting arenas marketers should look for in 2012.
Cities have always been regarded as “engines of growth” with access to Man, Material, and Money, whereas villages are regarded as the “Bottom of the Pyramid” providing opportunities to provide low cost products and services. But as times have changed “Middle India” has been the hero of the all – India growth story over the past few years. Middle India is composed of towns comprising of population between 1 lakh and 1 million people. It is not something fictional as Nielsen Company published in December 2011 after continuous research, supports the under-rated opportunity.
Typical Middle India towns are Haldia, Serampore, Bijapore, Hajipore, and 400 other such towns . Over 100 Million Indians live in Middle India, and according to the research estimates by the year 2026, the FMCG market alone will be worth Rs 4 trillion. The per capita consumption of FMCG products in these 400 towns stood at Rs 2,800 versus Rs 1200 – the all – India number.
Marketers need to understand the behavior of the consumers in this market segment to be a part of the ” Middle India Gold Rush”. It is time the global market launch should include these towns beside the usual gamut of Indian metros.
The new face of India is the rapid increase in use of digital technology and digital media. Today, more than 120 million Indians are subscribers of an Internet Service Provider, more than twice three summers ago. ”Take the world in your hands” is a fact today with more than 40 million Indians availing internet access on their mobile phones. Further research published by JuxtConsult ( India Online Landscape 2011) enlightens that over 4 out of 5 internet users either search or buy online- translating into a half a billion online consumer base.
Further insights have revealed that an average Indian spends 45 minutes on Facebook in a day. The huge number of smart phone users with apps adds up further to the consumer base for brands to interact and take opportunities. The recent hit of the “Kolaveri Di” song, reaching more than 50 million users globally is a measure of the impact and spread of internet.
The digital media playing field in quite huge providing accommodation to a list of brands, but yet to be utilized to its fullest potential. This year the marketers need to take the online test for their brands and get rewarded with the vast target market to be acquired.
In the year 2007 the Supreme Court had decided to include “Environmental Education” a mandatory part of the curriculum of every educational board. The publishers may have made some new business, the students may have struggled but 5 years later, today, there is an increase in preference for “Green” products and services. The 2011 Green Brands Global Survey, conducted with 9,000 consumers across 8 nations shows that more than 64% of Indians have an affinity for green products. Significantly, nearly 48% of consumers are willing to spend an extra 10% for environment-friendly products.
Marketers need to take efforts to create green products and services and market them accordingly to the target audience. Every product should be associated with “greenness” as a measure of being environment friendly. Communication should be based on how the brand and/or the products contribute to the environment or are environment friendly. Interactions with the target consumers should be revolving around conserving the environment with the featured products.The first – mover in this segment shall be the significant gainer, else the brands would miss the flight to profits altogether.
So take the first move to capitalize on the digital spread in India. Watch the best practices to B2B using Social Media Marketing tested, and followed by Manjunatha, and more details on the latest Online Marketing Enthusiasts community meet up here : https://www.facebook.com/events/123418927781987/