Marketing in India
The marketing landscape in India has dramatically changed during the past several years. This is also helping the nation’s economy, which has resulted in a good standard of life, a high income per capita, and other aspects of economic progress.
Unquestionably, India, is one of the world’s largest economies, and is significant for all regional and international industries. Business executives have demonstrated significant excitement for a digital strategy as technology and marketing become more closely entwined.
However, despite this increased inclination towards data and customer insights to drive decisions, the results show dissonance between what marketers deliver and what their consumers expect.
HISTORY OF INDIAN MARKET
One of the main elements that contributed to the expansion and development of the marketing environment in the nation was probably the liberalization policies that the Indian government implemented in the 1990s. Foreign businesses began to enter the market as a result of the liberalization policies, and various industrial segments were also introduced, along with an overall expansion of the demand and supply chains. This significantly boosted India’s economy.
Additionally, there were a few additional aspects that contributed to the positive development of Indian marketing. Globalization, foreign investment, client base expansion, and improvements in people’s lifestyles are a few of these. In terms of global market exchange, India has the twelfth-largest economy.
PRESENT INDIAN MARKET
The Indian market’s current situation seems promising. It is no longer a sellers’ market and has evolved into one of the world’s biggest consumer markets. The Indian market is now built on the perfect competition theory and includes both buyers and sellers. Demand-supply linkages determine market volatility, and there is very little government interference.
In addition to the economic expansion, India’s retail marketing industry is also flourishing. It produces about 10% of the nation’s total GDP and accounts for about 8% of all jobs. Due to an increase in per capita income, a better standard of living, and improved demographic trends, it is anticipated that the retail marketing industry will grow by around 25% over time.
Foreign investments in India
Global business behemoths and multinational corporations have also established bases in India due to its sizeable and fiercely competitive consumer market. In order to increase their earnings, more and more foreign businesses are investing in India’s capital market. Foreign institutional investments (FIIs) have already reached $10 billion in value and are anticipated to increase further. The amount of foreign direct investments (FDI) has also increased dramatically, rising by about 85.1% from US$ 25.1 billion to US$ 46.5 billion.
So now we know that India has the potential to become one of biggest markets in world. Its consumer market is more than the total population of some countries. Many businesses have tried to establish their business in India, but only a few of them succeed. So first let’s look into the stories of some well-established businesses in India and how they are able to market their product, into this huge diverse society.
Best Marketing Examples of India
- Asian Paints
When it comes painting their homes, the vast majority of Indians have chosen Asian Paints. The company has more than 70 years of experience in the Indian industry, and it has even spread to 15 other nations.
Whether it was the paint company’s original mascot Gattu or its memorable tagline, “Har Ghar Kuch Kehta Hai,” a number of its marketing initiatives have been pretty successful in India. The company has worked closely with decorators, designers, architects, and other professionals in addition to selling paint in order to fully comprehend the needs of the typical Indian customer when it comes to house decoration. Asian Paints’ marketing strategy was successful because it was highly resonated with the masses.
- Fevicol
Fevicol, a well-known brand name owned by Pidilite Industries, started out as a simple adhesive that later transformed into an almost-catchphrase all of us use frequently. Its impressive marketing effort in the form of its debut print and TV commercials elevates it to the list of effective marketing techniques in India.
With the introduction of Fevicol Marine, a waterproof glue, and Fevicol Speedx, a synthetic resin adhesive, Fevicol has also entered the industrial sphere. Fevicol’s success can be credited to its monopoly in the glue industry, but it has also expanded significantly thanks to its clever marketing initiatives like #FevicolKaJod.
started from a common household brand, and later transformed itself as a widely used industrial product, fevicol has come a long way since then, and in this journey a huge role is played by its marketing team who came up with these catchy tag lines and amazing marketing campaigns.
- Nykaa
Nykaa began as a cosmetics brand that competed with the sector’s renowned international goliaths. Nykaa, is one of the top marketing strategy examples in India, it makes use of a variety of tactics, including influencer marketing, social media, and seasonal sales. It has a large network of influencers who serve as the brand’s face and are in charge of establishing an honest bond with Nykaa’s clients. They promote the brand’s products through blogs, vlogs, reviews, postings, and other online publications. Additionally, Nykaa has launched the Beauty Book, a resource for the best beauty advice, to its website.
Nykaa have also created a blog section, where they give beauty tips, skin care routines, Hair routines, trending fashion styles, which in turn help to market their products and boost their sales.
What makes Nykaa different than other ecommerce platforms is that every seller here can collaborate with Nykaa and can write and publish content on their website in order to attract users.
- Amul
Amul is well known for its incredibly innovative topical advertisements that successfully combine fun and knowledge. Aside from its expanding product line, Amul uses its interactive material to provide a unique twist on important national and international topics. A popular brand mascot known as The Amul Girl appears in numerous print and digital advertisements for the company. Amul’s viral marketing efforts and clever one-liners have made the company a marketing success.
Their tagline “The Taste of India” is well known to every person in india. Their tagline dispelled the myth that bread and butter are a must-have for every breakfast in Britain and appealed to nationalism. The company’s symbol was a never-aging girl with blue hair and an orange face, wearing a polka-dotted outfit. Amul marketed all of its goods under one brand, which allowed the company to keep its marketing and advertising expenses to less than 1% of sales.
- com
Shaadi.com is another Indian business that has mastered the art of marketing. The brand seeks to keep up with the digital age with their emotional and entertaining content by utilizing hashtags and viral campaign ideas. Its #WohEkBaat campaign linked thousands of people with the brand while also establishing the brand’s milestone of having crossed six million success stories. Having a presence on social media sites like Facebook, YouTube, and Twitter has helped Shaadi.com grow.
all of these companies, have used different marketing techniques that somehow able to touch the hearts of Indian people.
Brands here know that marketing in India is not business, its about emotions. Your brand can’t become successful if you are not able to touch the hearts of Indian people.
Being successful in marketing in India requires both creativity and high-quality content. The successful marketing techniques in India mentioned above offer a wealth of knowledge. To stay relevant to the latest trends, as well as the shifting tastes and preferences of your customers, brands must regularly update and reinvent their marketing strategies.
Here are some marketing strategies to get you started.
- Social Media Marketing
In India where every brand tries to create a personal touch with every customer, social media marketing
Social media makes it easy to create a personal connection with your customers via comments and messages. You can also use customer referrals and recommendations to make your business more appealing.
People first discover brands via social media, so if you’re not using social media sites like Facebook, Instagram, and LinkedIn, you’re missing out on the opportunity to learn about, follow, and do business with brands. Effective social media marketing can help your company achieve extraordinary success by generating loyal brand supporters, leads, and even sales.
- App Marketing
If you just keep on marketing for new customers, and stops focusing on your older ones, you will lose your overall engagement withing days or weeks.
It is as important to retain your previous customers as to gain new ones. You need to find and create a balance between two.
If you don’t have a plan for communicating with your current users, you risk losing them before bringing on new ones, so for engaging and retaining the users you’ve worked so hard to attract, in-app marketing is very important.
Any type of marketing initiative created for and implemented inside a mobile application is referred to as “in-app marketing.”
Any advertisement or marketing campaign that is intended to be shown to your customers while they are actively using your app falls under the umbrella of in-app marketing. With the aid of in-app marketing, businesses can interact with customers in real time and promote new products to keep them interested.
- Influencer Marketing
As Indians we don’t usually trust brands as much as we do other people. So, its more better if brands don’t market their product themselves, rather they hire these people who have got this huge trust from their community.
Influencer marketing combines both traditional and modern marketing strategies. It transforms the concept of celebrity endorsement into a content-driven marketing campaign for the modern era.
It is basically a marketing strategy which is purely incorporated with the goal of increasing reach for the company. And to do so, they required the help of content creators or influencers, these are nothing but people who have large online base. These people have large set of followers on social media.
Nowadays almost every brand is using influencer marketing to increase their reach over social media. In fact it is proven to be the most effective techniques for some brands. Brands like boat, mama earth are clear examples those brands who achieved immense success through influencers marketing.
Influencer marketing does not focus on immediate outcomes either. It’s the same kind of methodical strategy used in Social Media and Content Marketing, where the goal of your campaign isn’t to promote your products directly. Instead, it’s about showcasing your industry’s thought leadership, authority, and credibility.
