Marketing Strategies Essay

5782 words - 24 pages

-Journal of Arts, Science & Commerce ■ E-ISSN 2229-4686 ■ ISSN 2231-4172

MARKETING STRATEGIES OF GLOBAL BRANDS IN INDIAN MARKETS
Dr. Girish Taneja, Associate Professor, Head of Department, School of Business, Faculty of Business & Applied Arts, Lovely Professional University, Phagwara, Punjab, India Neeraj Gupta, Lecturer, School of Business, Faculty of Business & Applied Arts, Lovely Professional University, Phagwara, Punjab, India. Rajan Girdhar, Research Fellow, Faculty of Business & applied Arts, Lovely Professional University, Phagwara, Punjab, India.

ABSTRACT With increasing globalization and international trade, a number of international brands are entering into India which is ...view middle of the document...

India is among the largest markets of the world in terms of its sheer size along with China which together account for 37 percent of the overall world population [1]. Having the huge potential, India is one of the most promising and progressively growing economies in the world. Followed by China, it has a large consumer base backed by the huge populations having a considerable amount of spending power. Though, a large number of Global brands have entered Indian markets, but not all were able to crack the success mantra for the mysterious, complex and a diversified market where the tastes and preferences of customers change after a few kilometers to the either side of the market. Indian market is so complex because of the large number of cultures, religions, diverse levels of income of the people. Moreover, a wide rural and urban divide creates another challenge in front of companies while establishing effective distribution network. Given the huge diversity of people and challenges related to distribution, the Global firms need to adapt to the local market conditions in order to attract the customers towards their brands. Despite huge potential, a number of MNCs have not been able to reach the levels of success that they have either enjoyed in their home markets or the markets world over. These global brands upon their entry in the Indian markets used the most successful of their companies’ strategies the world over, but these strategies failed in the Indian market because of which these MNC’s sometimes incur huge losses. According to Choudhary et al. (2012), the MNCs can try and use a three steps approach to succeed in the Indian market – (a) organize its business structure for Indian market; (b) customize their offerings for Indian markets; and (c) form partnerships with Indian companies [2]. In this paper, the cases of such selected Global brands are discussed who initially could not understand the dynamics of Indian market and needs of consumers and suffered huge losses. They repositioned their brands only when adapted to the local market needs and became successful. METHODOLOGY: This research paper is an attempt to explore how some global brands have been making inroads to the hearts of Indian consumers after committing some initial blunders. The relevant information using secondary data is collected from various sources such as websites, case studies, newspapers, academic journals, and business magazines in order to understand the marketing strategies adopted by selected global brands including Kellogg’s, McDonald’s, LG, Reebok, and Coca-cola in the India. The marketing strategies of these Global brands have been critically analyzed to present the view of how they encountered with initial failures and were able to overcome the enormous amount of challenges due to diverse nature of the Indian markets. CASES OF SELECTED GLOBAL BRANDS IN INDIA: KELLOGG’S: FROM TASTELESS TO TASTEFUL: Kellogg’s is one of the most successful Global brands from...

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