Background
With some of the lowest CPC rates for Digital Marketing and increasing consumer buying power, India has been the target market for many companies for more than three decades and it is becoming more resilient as it was one of only two countries that did not end up in recession during the global crisis of 2020-21
PROBLEM / OPPORTUNITY STATEMENT
Indian market is a market based and founded on the principles of frugality, sustainability and service driven quality delivery. Many new businesses are entering the market as the Startup boom continues to grow in the country and does not seem to be slowing down.
CRITICAL CONSTRAINTS
Rapid sales cycles, accompanied by good quality of services management is a critical and most important factor for growth in Indian markets.
KEY OBSERVATIONS
Low pricing, high quality servicing and always profit oriented business process helps business grow.
SOLUTION
India offers something very unique, a consumer base that is always willing and ready to accept a new, disruptive, experimental service.
APPROACH TO SOLUTION
Introducing a service via campaigns, followed up by actual people calling and supporting the solution use is a standard operating procedure for any new business.
KEY SOLUTION METRICS
Targeting and continuous engagement of market to reach a hyper growth stage and retain growth rate are vital and planning for such growth is poignant part of the business.
SOLUTION LIMITATIONS
If the business carries dependency on service delivery, the rate of growth will be significantly slower compared to a product based business. Though the statement is arguable and rapidly growing services business do exist, those are the exceptions and the services are touch and go type, like food delivery, cab booking services etc.
PROCESS APPLIED
Plan for sample market penetration first, either major city as target or Tier II, III city targets, with limited market expenditure requirements. Getting the market to respond determines everything else.
REVENUE IMPACT
Volume of consumer base in India is only matched by China and no other country on earth can compete with that. Focusing on volume driven business is always good idea for doing business in India.
AD-HOC CONTRIBUTORS
Because of the stability of its economy, Indian market offers steady revenues and sustained growth for long periods of time. Doing business in India should be a risk mitigation move for any major business in any part of the world.
KEY BENEFITS OF SOLUTION
Technically adept and responsive market, with readiness to accept new brands and untested market propositions. India is a goto market for experimental business ideas.