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No. 132 July 1, 2008

Marketing Strategies Targeting the Middle Rich in India

Nori KAWAZU and Eisuke ISHIZAKA

NRI Papers No. 132
July 1, 2008

Marketing Strategies Targeting the Middle Rich in India
Nori KAWAZU and Eisuke ISHIZAKA

I

Lifestyles of the Middle Rich in India

II Mindsets of the Middle Rich in India towards Consumption
III Important Points in Marketing Strategies

I

In July and August 2007, Nomura Research Institute (NRI) conducted the “Survey on Consumer Behavior and Attitude of Middle Rich in India” in three major cities in India (Delhi,
Mumbai and Chennai). This survey revealed actual lifestyles and mindsets relative to consumption of the middle rich who earn an annual household income of
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Copyright 2008 by Nomura Research Institute, Ltd.

1

NRI Papers No. 132

I

July 1, 2008

Table 1. Overview of Survey on Consumers in Three Major Cities in India

Lifestyles of the Middle Rich in India

Survey name: Survey on Consumer Behavior and Attitude of Middle Rich in India
Cities surveyed: Delhi, Mumbai, Chennai
Number of responses collected: About 500 in each city or 1,510 in total.
(This paper presents findings based on 512 responses each representing an annual household income of 250,000 rupees or more; some of these are of people in the rich segment.)

Among BRICs (Brazil, Russia, India and China) attracting much attention as new markets, various data are available for China. For India, however, we hardly ever see quantitative data on the mindsets and lifestyles of
Indian consumers. In July and August 2007, in order to contribute to the development of hypotheses to establish strategies by Japanese companies, Nomura Research
Institute (NRI) conducted a “Survey on Consumers in
India” to examine the mindsets and behaviors relative to consumption in three major cities in India (Delhi,
Mumbai and Chennai) (see Table 1).
While the findings of this survey are explained in the principal paper featuring the Indian market in the May issue of Chiteki shisan sozo (Knowledge Creation and
Integration), which is entitled “Honkakuteki ni

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