How to break into the Indian Market
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How to break into the Indian Market
The article ‘How to break into the Indian Market’ by Bryan Borzykowski gives vital information, which can help medium and small sized companies, penetrate into new markets. Furthermore, it has vital information regarding why India is an emerging market that people need to do business with, in order to achieve maximum profits (Borzykowski, 2012).
In the article, various concepts and terminologies have been implied or used. Also, some of them are similar to the ones, which I have the read in the course text. There is mention of the Gross Domestic Product, and this refers to the revenues that are earned by a country. In this case, India has a 7.7 per cent GDP growth, which means that the country’s economy is doing extremely well (Borzykowski, 2012). Also, in the economy, there are various sectors such as agriculture, fishing and defense, among others. They all contribute in different ways towards improving the economy of a country through the various services and products that they produce. The terminology demographic usually refers to a certain group of people who are located in a particular market.
In order to tap into the Indian Market, Mr. Kenny sent some of the people working for him on trade missions. This refers to business trips, which are meant to ensure that one becomes familiar with the environment where they hope to carry out their business. It means meeting with key officials or stakeholders, who will give advice concerning how to effectively carry out business in a foreign country. Mr. Kenny also wants to ensure that the Indian market contributes towards making his growth strategy for his company become successful. Growth strategy refers to the goals that have been established and have to be met as well as achieved, in accordance with the established objectives. In order for Mr. Kenny to penetrate into the market in India, it is key that he obtains help from trade associations. These are organizations that assist companies or businesses by providing them with financial assistance and advice, among other issues. It is a fact that India is an emerging market; therefore, it has valuable opportunities for investment (Borzykowski, 2012).
The article has provided an insight on what needs to be done if Mr. Kenny wants to succeed in the Indian Market. Moreover, the Indian market is one that is sure to be easy to break into as there is a conducive environment for doing business. Also, the country has a large population of one billion people, and they will assist in purchasing the products, which Mr. Kenny is offering. Mr. Kenny has also identified the needs of the target market, and this means he knows what products will suits them most. For example, many Indians are now eating seafood, and the technology they use to catch the fish is outdated. Therefore, Mr. Kenny’s company has a product, which can satisfy the wants of the Indian population (Borzykowski, 2012).
The manner, which Mr. Kenny, is handling the matter is commendable, as he is interested in knowing a lot concerning the Indian culture and how they conduct their business. The recommendation given by experts in the article should be looked upon by Mr. Kenny. They recommend that Mr. Kenny seeks assistance from trade associations, organizations, as well as the government. Also, he needs to have a business partner, who is based in India and in turn, he is sure to break into the prospective Indian Market (Borzykowski, 2012). In conclusion, this article is extremely informative as well as helpful for people who want to break into the emerging markets.
References
Borzykowski, B. (2012). How to break into the Indian market. Globe and Mail. Retrieved from HYPERLINK “http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/the-challenge/how-to-break-into-the-indian-market/article2367866/” http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/the-challenge/how-to-break-into-the-indian-market/article2367866/
