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Business plans should segment India to conquer markets- Part: I

Source | medium.com | Subash Franklin

India is a very heterogeneous market, so much so that what works in one region may not necessarily work elsewhere. Businesses big and small must take this into account when doing their business planning.

Thrifty Gujarati, Flashy Punjabi, Intellectual Bengali, Practical Malayalee, Fiery Telegu, Rational Tamilian…definitely, these are stereotypes and oversimplifications that we need to get away from. Even so, it underscores a point. India is too diverse and big to be reduced to one broad marketing stroke. Instead, we need different strokes for different regions. Therefore, on the one hand, marketers must consider the granular differences between markets, alongside, there are also occasions where brands must look beyond local nuances and regional differences to address a Pan-Indian market. Well-established brands with national distribution network typically embrace this “nocal” (national-local) mindset.

India is too diverse and big to be reduced to one broad marketing stroke. Instead, we need different strokes for different regions.

One of the most successful way a regional brand can take on national brands — in David v. Goliath battles — is through demonstrating better local understanding, which doesn’t come so easily to a national or multinational brand. (In a previous article, I have dealt with the subject of business identity and how a small lubricant manufacturer’s “Possible If” thinking helped them ward off competition from big MNC players). Conversely, a national brand that is trying to break into a particular zone or region should adapt to regional sensibilities and build reputation with new flavours, marketing communication, SKUs, promos and offers that appeal to that regional market.

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Source
medium.com
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