India has, over the year’s undergone massive economic growth, ranking fourth in the world's largest economies. India's Gross Domestic Product (GDP) is said to sustain a population growth of eight to ten per cent in the decade to come hence attracting a vast number of both internal and foreign investors. It is crucial for any investor in India or any part of the world to first identify its niche and the marketing strategy he is going to employ. India’s marketing strategy targets several classes of people in India, both rich and poor. These strategies can be employed by not only Indian citizens, but also a wide range of people across the world.
A compelling market strategy will help an organization to achieve its goals, whether long term or short term. The organizations objectives are usually set by the manager, or the leader of the company and these objectives put the company in a competing position with others. The manager of the organization then shares the objectives with several other departments of the company. One important factor in consideration while setting objectives is that, it becomes hard to accomplish the goals of an organization without involving the departmental units of the company.
There is a considerable difference between marketing strategies and marketing tactics. A marketing strategy is a plan on how to go about making the objectives of marketing a reality whereas a marketing tactic is how the strategies are going to be applied. There are several marketing consultants in India , offering advice on how to come up with a good marketing strategy . These consultants focus on:
• Coming up with a marketing strategy for the India based markets.
• How to go about implementing the strategies.
• Discovering the business opportunities
and difficulties present in the Indian market.
• Corporate training.
• Activities aimed at promoting businesses.
• How to market products and services in social media amongst others.
An environmental analysis is of utmost importance when coming up with an outstanding marketing strategy. This analysis will involve:-
• SWOT analysis.
• Competitor analysis.
• PEST analysis.
All the above have been put at the forefront in India marketing strategy. In recent times, the Indian government has opted to change its marketing strategies by seeking help from the private companies in order to attract a prodigious number of tourists. The government has even moved forward to set up tourism offices in other cities of the world, for example, Singapore, London, New York, Dubai, Paris and Sydney among others.
The Indian government is planning of assigning several ambassadors, who will run the activities of these offices. The India marketing strategy has also changed how people across the world view marketing, and is the main reason behind India's strong economy. The crucial importance of a good marketing strategy is the fact that it gives way for companies to realize strategies simultaneously satisfying the diverse needs of consumers.
Sumit Srivastava is a Business Strategy Consultant which is involved in designing breakthrough marketing and business intelligence solutions derived from a blend of powerful fusion of knowledge and imagination. He occasionally writes articles in niche marketing segments, branding in India and consumer insights.