Have marketers in India been chasing a mirage? Is the bottom of the pyramid (BoP) market a myth? Is our jugaad mindset, being celebrated as an advantage, actually a handicap? In his second book India Reloaded, scheduled to launch mid-September, Dheeraj Sinha, National Head of Planning at Grey (a WPP group company), boldly puts the cat among the pigeons. Sinha argues his case compellingly, juxtaposing numbers with rich, fascinating anecdotes, forcing you to stop in your track and think. Excerpts from a conversation with Chitra Narayanan:
In your book you say India is not really a mass market place. That sounds counterintuitive.
But so much money has been invested by marketers on BoP? Is that a mistake?
While reading your book it appears that Indian consumers go for "safe" and are risk averse.
The mindset is that if you are selling more you are good. Which means from the consumption perspective, we are a market for relevance. Most consumers here are at the stage of their first or second experience of consumption. They are buying their first car, first flat screen and the thinking is that we would much rather go with things the world has experience with. If you look at any category, the top three players have 60 to 70 per cent of market share. We are more lopsided at the top and challenger brands are not doing so well. I think one of the solutions for challenger brands is to go for scale.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today