“ India” – “Changes in Last 60 Years

2216 Words Apr 16th, 2011 9 Pages

India is a big country that consists of various segments of consumers, based on income, class and status. The most recent and crucial development in India’s rising consumerism story is the birth of the rural market for basic consumer goods.
Rise in literacy rates and exposure to the west, satellite television, newspapers, foreign magazines and newspapers have all led to the phenomenal rise of Indian consumer. Today, more and more of Indian consumers have become choosy and demand quality products at competitive prices. They prefer to purchase from renowned retail stores, where accountability is evident and feedbacks are given prominence. The Indian market is emerging as a dynamic
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(c) Physical appearance: Today, physical fitness, good health and smart appearance are on premium today. Slimming centers and beauty parlours are mushrooming in all major cities of the country. Cosmetics for both women and men are being sold in increasing numbers. Even exclusive shops are retailing designer clothes.

(d) Materialism: There is a very definite shift in the people’s cultural value from spiritualism towards materialism. We are spending more money than ever before on acquiring products such as air-conditioners, cars CD players etc, which adds to our physical comfort as well as status.

(e)A shift from sellers market to buyers’ market- characterized by intense competition, variety, and consumer insistence for value for money leading to the redefinition of necessities and luxuries; (f) Sheltered market to competitive market – the entry of Multinational Corporations (MNC’s) with global network, acknowledged superior technology, product quality and money power to backup their marketing efforts offered a severe jolt to the Indian companies; (g) Changing consumption pattern – Indian markets have transformed both in terms of sophistication and variety, resulting in a substantial change in the disposition of the customers towards quality, price, delivery and service leading to new processes; (h)
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