Foreign Brands in the Indian Market

617 WordsFeb 4, 20182 Pages
We are living in a globalised world, where culture plays an important role on how the product are received from one country to the other. Thus it creates an opportunity as well as challenges for the major brands and businesses seeking for global expansion. It also provide an opportunity to acquire better employees, increase their production efficiency, expand market and important to point out is ‘It’s the future’ as soon it will be a standard operating procedure. India, one of the world’s largest and fastest economy, has become world’s favourite marketplace, catching the attention of many premium brands and setting up the shops here. Its large population base proves to be an aspirational market for the foreign companies and brands. Complex Indian environment can be frustrating as well as challenging in order to survive. Before entering to Indian market, foreign brands must focus on some strategies such as think global but act local, be consistent in maintaining the quality of service or products offered, always try to innovate and adapt according to the situation and region, formulate effective marketing strategies to make customers aware of their presence in the market and finally to ensure scalability and sustainability, which are necessary to remain in market. Focusing on domestic market means you have to localize the product. India is a very diverse market considering mind set, choices and preferences of the customers. Many times questions arises, how these foreign
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