The paper "Myers Brand in India Market" is an outstanding example of a marketing case study. This essay features the Myer brand; an online shopping company dealing with diverse products ranging from beauty, toys, electronic, wear etc. with a discernible presence since the 19th century. The essay also analyses the Indian market and marketing strategies mix such as branding elements, brand positioning, and pricing and communication strategies. Branding is one of the most important aspects of marketing not just limited to features such as company logos or other graphics elements.
It also goes around the organization's customers experience ranging from logos, interaction with consumers on social media, and the website, how consumers and staff are handled. In simple terms, branding is basically consumer perception against the organization. Branding serves the following importance in the organization. It promotes organization recognition to consumers, helps the organization in competing with consumers, plays advertising roles, motivation for employees, generates viral traffic, helpful in gauging organization expectations and it reveals organization promises to consumers. India Market analysis The Indian market has come a long way through many changes and revolution in policy which have attracted many international businesses (Business Environment and Euromonitor International 2015).
This part of the essays analyses the cultural factors in the Indian market. Cultural factors are values, ideologies of people living in a particular country. A culture is a strong determinant of consumer behavior in India. Different consumers have strong orientation on family ties and this has a bearing on their buying behaviors (Fields 2011). Consumers in the market can be categorized into the various group in India based on their different needs and products which appeal to them (Passport 2014). Despite the recent reforms in policies, doing business in India is not easy due to deep cultural differences and unique way of doing things there.
There are many economic hindrances in India such as red tapes, high taxes amongst others when doing business in India (Euromonitor International 2015). Their business culture is a product of many years of Hinduism domination, a mixture of Islam and western culture. Therefore it is important to study consumer’ s mindset and adapting and monitoring of cultural changes so as to be successful in business.
The responsibility of global marketers is to understand the differences and similarities in their culture and come up with concrete marketing plans. Before starting a business it is important to have target consumers in the market, kind of Medias they use, knowing the kind of life they live, assess their purchasing power and factors which are important in buying decisions (Fields 2011). The company target both middle and high class and youths due to a high preference of online buying for products of high-quality values. For instance, some cultures dictate wearing traditional regalia and this must be followed (Euromonitor International 2015).
According to Fields (2011) People from different social classes have different taste and preferences in how they buy and spend their money. For instance people from high class like luxurious spending as compared to people who struggle to make end meet. Lower class on spending money on necessary items only while the middle class has a different taste when it comes to spending on items. The middle class will likely spend money on items which are intended to make them secure in future (Gordon 2012)
Fields, G, S 2011 ‘Labor market analysis for developing countries,’ Labour Economics, 18, S16-S22.
Gordon, R, 2012, ‘Re-thinking and re-tooling the social marketing mix,’ Australasian Marketing Journal (AMJ), 20(2), 122-126.
Krasovec, S, A 2013, Packaging design: Successful product branding from concept to shelf,’ Journal Of Marketing, 21 (3), 123-134