Consumer Goods Marketing in India
Marketing to India > Consumer Goods Marketing in India
A management consultancy firm advising American companies how to increase revenues and reduce costs by leveraging the economies of China and India.
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Consumer Packages Goods (CPG) are often-referred to as Fast Moving Consumer Goods (FMCG) in Asia. The consumer goods market is expected to reach some $400 billion by 2010. India’s emerging middle class is fueling this rapid growth and the challenge for multinationals is how to adapt their goods to the Indian consumer and how to deliver the goods to an economy dominated by smaller independent merchants.
Much of this emerging middle class has been raised in the postliberalization era and has an optimistic view on growth and the economy as a whole. Apart from basic needs being satisfied, many of these households with children are trying to help their kids get ahead and are beginning to view certain consumer goods as a sign of the good life. These consumers view price and value for the money as important aspects in their consumer purchasing and although many long for western goods, they will not pay a premium for them.
Over forty percent of the population in India is under 21 years of age. The widespread presence of American media has made this market segment curious about the outside world while still being rooted in Indian culture and traditions. This curiosity has created a latent demand for the good life and for western style convenience goods. Local distribution and logistics are still challenging but continue to improve. Packaging and pricing requirements for the market are unique. While multinationals like Unilever, Nestle and Pepsi have a long history in India, large unmet opportunities exist for many others in the Indian economy.
Some Indian firms use service contracts with overseas firms to fund their operations, such as Alcoa India.
- Hindustan Unilever
- ITC
- Procter & Gamble
- Colgate Palmolive
- Glaxosmithline
- Cadbury
- Godrej
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Consumer Goods Research Reports - Premium Consumer Goods reports, including India
