Strategy 2022 – How to grow in the Indian market
The client entered the Indian market in 2016. The establishment of a new personal care brand and a joint venture with one of the biggest retailer in India, made a successful market entry possible. This formed joint venture allows the two companies to share capabilities.
Ramona Stampfli & Lisa van der Floe, 2019
Bachelor Thesis, A company in the personal care sector
Betreuende Dozierende: Pieter Jan Perrett
Keywords: Strategic proposal, competitor analysis, internationalisation, India, personal care market
The differences in consumer behaviour as well as the national and international rivals, force the client to adapt its products according to local standards and needs. Thus, the company still needs to learn a lot from the Indian personal care market and the corresponding consumers. Consequently, this Bachelor Thesis should contribute to a facilitated decision making in terms of future strategic approaches in an emerging market like India. Digitalisation, Health and Wellbeing trends, growth drivers and sustainability are the main topics that are examined and discussed.
On the one hand, primary data such as a total of 15 expert interviews were conducted. In addition, a qualitative survey was distributed among Indian consumers to better understand their preferences and purchasing habits. On the other hand, secondary data such as relevant literature for the theoretical framework as well as the competitors was collected through desk research.
The authors suggest the client seven different strategic proposals in order to grow in the Indian market. However, the Bachelor Thesis does not involve the execution of the future strategy. First of all, the company should continue to sell its products in supermarkets and strengthen its online distribution. Furthermore, the findings suggest that a brand ambassador would improve the company's presence in the Indian market. In addition, considering current market trends and establishing new products, should be another important component of the company’s future strategy. Potential consumers of the client should be aware of the company’s values regarding sustainability which correspond with already existing values of the client. Additionally, the findings suggest to price products in the personal care sector wisely, since especially the Indian middle-class is still quite price sensitive. To conclude, constant product innovation and improvements will enable the company to strengthen its product portfolio and successfully compete against its competition.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: Andere