The market segmentation and marketing efforts of various Indian companies are reaching a critical stage and the industry is in a phase where they need to reach out to their target market.
According to a recent survey conducted by industry body, the India-based Marketing Research and Development Institute, the market segmentations of these Indian companies have reached a critical phase and they need the government to give them the support to make it happen.
According a survey conducted on the internet, India-headquartered companies such as Indica, Echelon, Pimco, and TCS are segmenting the market in the country.
Indica, for example, has begun to target out of the four categories of buyers by segmenting into categories, such as men, women, children, and seniors.
The survey has revealed that Indica is targeting out of women consumers and seniors, and is targeting men and women by segmentation.
The survey has also revealed that in the year to March 31, the Indian market segment was valued at $2.8 billion.
The companies are also targeting out-of-town buyers.
The marketing efforts are also starting to get in the way of the efforts of the government, which is looking to create more incentives for corporates to invest in India.
The country’s biggest business portal, GoMyMarket, had recently launched a campaign to attract more companies to invest.
In an article titled, How the Government can leverage the Digital India to attract new businesses, Go MyMarket wrote that in 2018, India will overtake the United States as the number one destination for foreign direct investment (FDI).
The company further explained that the focus on attracting foreign direct investments will help India in its efforts to achieve a faster pace of economic growth.