If you want to launch your
product in India, I always suggest MQP – Mentality, Quality and
Preparation. The following aspects can have a very big impact on the result of
the business.
Mentality:
The difference between European and Indian mentality can be seen very easily
while interecting with Indian people.
They are more social and religious. A small “Namste” or “Pranam” can give you a
chance to win the Indian heart or at least to get an entry into a sympathetic
business atmosphere. Indians are very proud on their country and therefore if
possible bring an Indian “Tiranga (flag)”on the product packaging. European
products with name for example “Indo-Euro” can be a successful approach.
European person in Indian dresses is a good idea for marketing.
Quality:
Indians have in deed a very good impression about the European people and
products and therefore a very high expectation. Fulfilling that is not such an
easy task. I do not suggest taking any of your Indian customers too easy especially
if somebody is travelling from India to Europe for a business trip or audit. It
is very important to keep in mind that an Indian company is spending money and
time on the employee and therefore the tasks are also planned to get a maximum
output. Do not take Indian customers too easy. The result can be very shameful.
Preparation: It
can be easily imagined the population of India and therefore the competition.
Respect is very important for Indians. Be punctual and take the chance to talk
about his achievement and congrats him for that. If he visits your city, talk
about the culture and if possible show some historical place. If you are
interacting with a group then an important aspect is, to give respect to the
oldest as in India elder people has the higher value. Try to look on the
business card as the designation plays a very important role. Find out if the
business partner is coming from South India or North India. If not offered do
not call elder person with first name. In simple word - do your homework.
If an Indian company wants to do business with a
European company then their intension is to get a very good quality and not to
save money. At the same time, keep in mind that Indians are very good in saving
money. Show cost- benefit figures. It will help you to convince Indian customers
for opting even for an expensive product. The presentation of a service or
product should be well structured, as Indians need to be convinced to spend
money. Show cost- benefit in details and in this way you can even sell your
items with good margins. Indian believes in “Give and Take” and therefore plan
your product in this respect.
Nowadays in India brand names are taking maximum
margins of business. Make your brand popular before launching. Do branding in
such way so that the customer can show easily to others that their product is a
European one. A name or design which can easily give a European feeling can be
a good idea. Depends upon the target customer, plan in advance which image you
want to get in the market. It is best to target the middle class customer. Try
to get their trust.
Never forget India has a very big population and
therefore many customers. Plan good, start good and enjoy the success. If you
are able to make your product to a status symbol of better living then believe
me you have won the business.
We Indians say nothing is impossible and sky is the limit.
Thank you
for reading this article and giving your valuable feedbacks and
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(*** This article is based on my own experience and thoughts)