What does it take to build a successful brand in India? There are no mantras but I have attempted to encapsulate some key points that I call the the four 'Is' (rather like Philip Kotler's '4Ps').
Invest
Come with an intention to invest, not harvest. First, it's important to invest in research. India is about as many 'countries' as it has states and it is important to understand these markets to make your product work. A 'one-size-fits-all' approach can be risky.
Invest also in infrastructure. In a landmass covering over 32,000 sq kilometers, distribution and reach could be the crucial differentiator between the success and failure of your product.
Invest in the right products. Mercedes Benz nearly went bankrupt in India selling outdated European models. Today, the models it launches in the US or Europe are available almost simultaneously in India. Result: in a country that values 'fuel efficiency' the Benz sells against a waiting list!
Innovate
Innovate in your product. Take local sensibilities into account and tailor products accordingly. Don't paint your product blue if Indians like it red. Thanks to McAloo - India's own Big Mac - McDonald's is India's fastest growing chain of family restaurants.
Innovate in your communication. In a land where over 300 films are released every year, sell ideas not products. Korean companies Samsung and LG have grown to be number one and two consumer electronics brands in less than a decade by leveraging their products on new concepts.
Impress
Bring the fire power early in the game. Shock and Awe does work. By following precisely this strategy, Hyundai leads the car revolution in spite of being a late entrant. It is now a leading player after Maruti-Suzuki, the 20-year-old incumbent.
Brand ambassadors can also change the fortune of the brand, but should be used with caution. Shah Rukh played a key role in the fortunes of the Hyundai Santro, or look at what Sachin did for Adidas in India or Aamir Khan to Coca-Cola.
Inch Ahead
It's best to build a solid foundation and then dream of the sky scraper. See red tape in India as a measure to test your resolve about India. Unilever, Pepsi, Colgate are all successful brands in India who either came with a heritage or came with an intention of leaving one behind.
If all this sounds simple, it is. Building a successful brand in India means getting your basics right and keeping it simple!
Ashwani Singla
CEO, Genesis Burson-Marsteller
Blog URL: http://www.reputare.in
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