How Chinese mobile phone companies are successfully penetrating Indian market?
By wanting to do so and on the other hand expect few Indian companies rarely raise their heads beyond Indian market. Unless Indian business owners shift their focus from bookish business planning to plan their business well in domestic and foreign competitive markets their products will ever see light of the day. Neither they strive to meet growing customer’s expectations in terms of value for money nor they possess grit to experiment with innovative offerings to attract demanding customers.
Successful businesses that dominated industry for decades whether be it Microsoft or Google or even a burger shop cross the road have one thing in common – first they’ve correctly understood and then timely fulfilled the real needs of their customers in a cost-effective manner. They were also consistent leaders to quickly identify the shift in customer behavior and again able to bring required changes in their offerings to fulfill customer needs effectively.
Chinese mobile phones now have over 40% market share in India for one simple reason – they are continuously successful in meeting customer expectations in a best possible price. As far as Indian entrepreneurs are concerned, there is one lesson that still remains to be learned and that is sharply focusing their efforts to enrich existing products at par with international standards to generate reasonable competition. Instead of designing inferior products for local markets without any consideration of global players, now significantly high resources should be channelized to make globally cost-effective and value adding innovations.
The rule is simple – customers buying decisions are always based on quality and price comparison and not just on nationalism. No matter how hard a nation try to protect it’s economy by isolating global competition by serving substandard and non price-competitive products; better products will always find way to reach customers.