Just follow these 11 steps to add your company/brand to the awesome mound of still-borns and corpses that litter the Indian market-scape over the last 15 years.
- Do not 'read the market right'. Your global experience will stand you in good stead.
- Don't bother to fathom the reasons for failure of a host of international brands
(including biggies and heavy weights)
- Use per capita consumption to assess potential.
- Over-estimate the strength of your brand.
- Don't bother to figure out the complex distribution set-up in India.
- Rely on Government and Official Statistics.
- Assume that internationally successful brands will automatically succeed in India.
- Evolve a strategy built on the premise that Indian consumers are ready to pay more for a high-quality product.
- Focus on a few niche segments and higher price points.
- Make your products available in the same pack sizes as are available in affluent markets.
- Under-estimate the strength of local players, home grown brands.