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For large number of global brands and MNCs the story of India’s emergence as a consumer super-power, has remained just that. A story.
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So much about India seems familiar that it can make it seem deceptively simple and conquerable.
anirban.mukherjee@futurebrands.co.in
Everyday, organizations around the world are lured by the Indian growth story, sometimes narrated in sizzling detail by the media and at other times by ambitious local associates. Most often than not these assertions that argue for the average Indian's need for "progress" do not represent the true nature of the market place or the consumer.
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WORK SPOTLIGHT
In many ways, the face of India to the world of Global businesses are an English speaking minority who more often than not reduce the complexity of the Indian market to understanding local idiom. As if learning to say "namaste" with one's hands folded reverently could single handedly transform this otherwise perplexing consumer market into the proverbial golden goose.
At Futurebrands Consulting we have
This tendency to oversimplify the Indian reality, has caused even the most astute amongst business managers to drop their guard.
understanding of the Indian reality,
This has resulted in countless marketers importing branding and business principles that have served them well elsewhere, only to discover that their strategies are not resonating with the Indian consumer.
built over a decade.
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developed an “Indian Cultural Lens” through a deep, multi-sectoral
Mapping Indian consumption culture The Indian idea of business How new categories create meaning for
strategies are not resonating with the Indian consumer. Brands as big as Kellogg's and Coca-Cola have learnt the hard way that they need to define themselves in Indian terms. They have struggled to accept that the average Indian's desire for progress does not follow the trajectory of western society. We have seen brands occupying what seemed like unshakeable leadership positions lose their initiative. Nokia, which till recently had a near 70% share of the mobile phone market, today struggles to cope with local brands who have created a lineup of phones with disruptive features that appeal to a new generation of mobile users.
Why do so many entry strategies fail when it comes to the Indian market? One would assume that given the poor success rate, global brand managers would have learnt from the mistakes committed by their peers and predecessors. The underlying flaw: evaluate the market potential, category state and consumer evolution to tailor the existing global brand offering The key to this problem lies in the assumption that consumers around the world are fundamentally the same, albeit at a different point on their evolutionary curve.
Not a marketing problem alone, but a cultural problem Culture, the invisible driver? "There is no such thing as universal rationality‌ what is rational or irrational to a person depends on that person's value systems, which in turn is part of the culture that person has acquired in her or his lifetime. What people around the world value varies enormously." - GeertHofstede, Anthropologist
At Futurebrands Consulting, we believe brands that meet with success in the Indian context will most often be those who are willing to reinvent brands, products, and business practices in a manner that is culturally continuous.
Futurebrands Consulting : India Entry Approach Cultural immersion
:
In-depth understanding of the cultural context that shapes the Indian consumer relationship with a specific category.
Constituency mapping
:
Understanding the larger socio-cultural forces that people are governed by and how it shapes their needs and desires.
Opportunity mapping
:
Identifying emerging consumer themes, how and what is changing to conceive new opportunities and brands.
Brand localization
:
Interpreting global brands in terms that become meaningful for an Indian
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themselves How India adopts change
audience.
Product customization
:
Identifying relevant and meaningful opportunities to differentiate in the Indian market.
The Futurebrands Consulting Team : Our consulting practice comprises of people across diverse backgrounds that include Market research, Brand Management, Advertising, Social sciences & consulting.
Santosh Desai (MD & CEO) Before taking up this assignment, he was the President of McCann-Erickson, one of India’s premier advertising agencies. A post-graduate from IIM Ahmedabad, Santosh spent 21years in Advertising and was been strategically involved in building key brands for a range of local and multinational clients. He has been a guest lecturer at various national & international universities, and has addressed the global management boards of several multinationals, including Microsoft, Philips, Hershey’s, Unilever, Coke and Reckitt Benckiser. His principal area of interest lies in studying the relationship between culture and brands. He writes regularly on contemporary Indian society and on subjects related to Marketing in leading business and general interest publications and has recently published his book on India titled "Mother Pious Lady".
Anirban Mukherjee (Practice Head – Consulting) Before moving to Futurebrands Consulting to head the practice, Anirban spent 14 years in the advertising industry. He spent most of his time working as a strategist at McCann Erickson India and from 2002 onwards he led the Strategic Planning function of its Mumbai operation. He has experience across an array of MNC’s such as J&J, Coca-Cola, Motorola, Bacardi, Nestle, Lever’s, Western Union, Citibank and several other Indian organizations and brands. He has addressed the Intel Corporation at their DIAL 2010 seminar.
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