1.0 Introduction
This study on Indian consumer behavior is aimed at helping Malaysian businessmen to get a better understanding of the Indian market place thus enabling them to embark on selected strategies to effectively reach the Indian consumers.
India is a big country with 28 states, over one billion people and 120 dialects/languages.
From the market perspective, people of India comprise different segments of consumers, based on class, status, and income.
An important and recent development in India’s consumerism is the emergence of the rural market for several basic consumer goods. Three-fourths of India’s population lives in rural areas, and contribute one-third of the national income. This rural population is spread all over India, in close to 0.6 million villages.
India is a lucrative market even though the per capita income in India is low and it remains a huge market, even for costly products.
Among the total 164.8 million households in India, 80.7 million households comes under low income group ( US$ 2465).
2.0 Characteristics Of The Indian Consumer Behavior
The Indian consumers are noted for the high degree of value orientation. Such orientation to value has labeled Indians as one of the most discerning consumers in the world. Even, luxury brands have to design a unique pricing strategy in order to get a foothold in the Indian market.
Indian consumers have a high degree of family orientation. This orientation in fact, extends to the extended family and friends as well. Brands with identities that support family values tend to be popular and accepted easily in the Indian market.
Indian consumers are also associated with values of nurturing, care and affection. These values are far more ...