India Launch Strategy And Tips
Operating a business in India may turn out to be not only a profitable venture, but also an exciting one considering the country’s large, diverse population. India has been classified as being responsible for about 1.5% of global trade and this in itself makes it a hub for new business in the region. In India’s launch strategy, it’s crucial for a new entrant to be not only considerate, but also careful in its interaction for several established reasons:
1) Indians generally view time a lot more differently from say, the Americans. They also hold varied perceptions hence a new entrant in the market needs to blend in so as to be accepted by the community. What is seen as reasonable and feasible in one country may be totally out of context in India.
2) India’s launch strategy requires for a business to understand the country’s multidimensional cultural and business practices; putting them into proper use is the key.
3) Company set up should work hand in hand with those already held by the people. For instance, Indians are quite accustomed to hierarchy in the work place; the leaders are highly respected, it is therefore only reasonable to consider this.
4) A company has to establish a sense of corporate social responsibility, in order to obtain trust in the market and not give the impression that the brand is only there to seal the deal.
5) It also needs to secure the right business partner to enable a viable collaboration and thus carry out any research and development issues effectively.
6) A business should develop and customize a proper marketing mix since a tool that may be effective in one region may not serve well in another. Essentially culture shapes not only perceptions, but also business ideas and ventures.
In overall, a business needs to set a reasonable pace and have a protocol of carrying out its objectives, and setting up in the new area. It should accept the variations in culture and working conditions and make necessary adaptation because this is what will eventually lead to a fruitful venture.
A launch may be successful, but, for the business to reap big, the organization has to be patient. In regards to this there should be enough capital to allow for the business to self sustain until it starts earning profits. The start up money is very crucial. India has a high growth potential for just about any business but the business should not anticipate immediate benefits, it will likely take time before it achieves a break even. It is therefore paramount for a company to set up enough start up resources in anticipation of handling any potential levels of demand. But above all, it is important to realize that a success formula in America, or Africa, may not automatically be equal to a success formula in India. These are vital launch strategies for those who are looking to enjoy success in this vast market.
Author Bio:-
Sumit Srivastava is a Business Strategy Consultant which is involved in designing breakthrough marketing and business intelligence solutions derived from a blend of powerful fusion of knowledge and imagination. He occasionally writes articles in niche marketing segments, brand strategy and consumer insights.
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