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Indian markets are thriving and provide great opportunities to international companies thinking to expand. But a deep understanding of those markets is critical before entry. The economy is dominated by millions of small & family-run companies (less than 10,000 companies have a turnover of more than 10 million Euros) and this leads to highly opaque market structures. Furthermore, Indian consumers have very great differences in purchasing power & concepts of affordability, and in almost all market segments there is extremely tough price competition, special pricing structure & a bargaining culture which makes strategic decision-making all the more critical. Lastly market volumes for imported high-value products are still relatively small in absolute terms – even though they are growing day-by-day.
Foreign companies need facts and information to make decisions – whether you are thinking about market entry or expanding your existing business. M+V’s strategy consultants conduct both in-depth analysis and quick-checks with primary and secondary data research in India, focusing on market analysis (product-specific analysis), pricing analysis, customer analysis, competitor analysis, distribution structures and import regulations.
The main objective of M+V’s Market Research is to identify the “real” potential of the foreign company planning to enter India. In many cases – but not all – the market potential for imported products will be limited. Thus it is important for market entrants to understand which type of products sell at what price and how they could offer existing products within the market and other options. In this regard the entire realm of product innovation, product adaptation and technology transfer are becoming critical to the success of international companies doing business in India, and so need to be addressed in detail.
Our methodology ensures you a complete understanding of the Indian markets for your products – who is interested in what function (of your product) and who is prepared to pay what price for such functionality? Our detailed market and pricing assessment provides you all the relevant information you need so that you can make a clear and accurate decision about not just how best to enter the markets of India but how to ensure success. We answer the questions: How many customers will buy your product? What price are they able to pay? What organizational structure is required to reach the customer with your products?
Our work does not end with defining realistic targets. We also facilitate the process to turn the strategic assessment into a clear and practical business plan. Through our own hands-on experience we understand not just the markets but the practicalities of trading and production in India. Thus we can ensure your planning gives concrete direction for everything you need to think ahead – may it be for producing or purely trading – from the right legal set-up, to staff and distribution structures as well as to pricing and product portfolios.