-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 one of the fastest growing and highly competitive
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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 . 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