Page 144 - MYM 2015

Views and Opinion
Complexities in Emerging Markets like India
Walter Vieira
IA Great Challenge
t has been a great challenge for me, personally, over the last 50 years, to deal with emerging markets, especially India, which is internationally accepted as one of the BRICS countries (Brazil, Russia, India, China, South Africa). They are
considered to be the stars of the future (although, this is now contested). In these countries nothing is normal, nothing remains normal and yet, nothing is abnormal. The heterogeneity within a country like India is so immense, that as a Marketing Professional, you have to run with the hare and also chase with the hound. That is, if you want to embrace the whole market, or even much of it.
If you are prepared to stay with a small segment
of very high quality/ high priced, or lowest acceptable quality at low priced products, in limited geographical areas, you are free to do so. But then you will never become the giant you may wish to be.
Scenario of Contrasts
India is a country with 1.3 billion people, which is a sizable percentage of the world population of 7 billion, the second largest after China. 50% of the population is below the age of 35 years. In fteen years, India will have the highest number of young people in the world. It is so heterogeneous that an Indian from the
Abstract: In an age of VUCA, there is a greater need in a heterogeneous/complex country like India, to rely on the twin pillars of Innovation and Marketing (Drucker). This is subject to Innovation being both, top-down (structured) and bottom-up (juggaad). Also, provided the other
Ps of Marketing are aligned to Innovation (and many fail here). Here is brief pro le of India, and successful attempts by large multinationals; start-up entrepreneurs; and sometimes, collaborations between them – to succeed by converting challenges into opportunities. But much more needs to be done!
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North looks completely different from an Indian from the South; it is the same with the East and the West of India. There are over 30 national approved languages, and over 3000 dialects, making India a modern day Tower of Babel, with English and to some extent Hindi, being the link languages. Every religion in the world
is practiced in India, which, inspite of an 80% Hindu population, has a 14% Muslim population, which in numbers is second only to Indonesia, and more than any other Muslim country in the world. There are those who eat most meats, and those who are vegetarians to the extent that they will not eat any vegetables that grow “under” the ground.
India has produced a very large pool of technical experts in all branches of science. Many, if not most, manning the NASA operations in USA are of Indian origin. Yet, the highest number of illiterates in the world is also in India.
India produces some of the best medical talent in
the world; of whom many move to the West. (The
new Surgeon General in USA, 47 year old Dr. Murthy, is of Indian origin).Yet, the largest number of child malnutrition deaths in the world, is also in India; with the country having the dubious distinction of being the diabetes capital of the world.