It is no secret that Indian companies have a particularly different way of attracting potential customers. How do they do that? Well, it’s mainly skill and psychology. There is a tremendous difference between the 19th century and the 21st century, also known as the century we’re living in. These differences create opportunities, these opportunities create dynamics. Dynamics are useful to that 86% of the consumer population which lives in developing countries or businesses that serve them.
Some might or might not know this, but a majority of Indians don’t have access to indoor plumbing or electricity. As well as, many rural citizens, don’t have access to high-quality health care and school. However, digital technologies have the potential to address many of those challenges. It is again no secret that the most successful consumer good use technologies. They use digital technologies to connect with millions of rural consumers and expand markets. In the process of all of this, they also improve economy, health and welfare outcomes. For example, Reliance Jio is a telecom company founded in the year 2016. This was founded by India’s richest man, Mukesh Ambani.
Many of you, if not all might be wondering what did he do? Well, he offered lower-cost phones, and consumers free 4G data. All of this for seven months with the sole purpose of building connections. Noe Jio is valued at $65 million. Multiple companies, including Facebook, have acquired a stake in it.
SMEs and entrepreneurs can reach new customers and markets
IndiaMart is an e-commerce platform. This platform’s success illustrates how companies can expand their own market by simply connecting local businesses and consumers to the outside world. Digital media enables these communications at the macro and micro-level, enabling large groups as well as small markets to be used.
Facilitating news connections between the buyer and seller are important. It can foster prosperity and spending power of SME’s. However, this is good for IndiaMart too. IndiaMart has enjoyed exponential growth, and they have launched an initial public offering.
Market Modernization
Innovative businesses have encouraged innovative new technology to combine experiences online and offline. This is done so that they can meet less wealthy customers or live outside metropolitan markets. Indian retailers to a large extent skip the big shopping centre and the Big-box phase. In fact, they sell digitally. (although brick & mortar interactions and the like are still continuing).
Wallets or digital market places like Grofers, Flipkart, and now JioMart is emerging faster than ever. Forrester Research Inc. expects Indian e-commerce revenues to more than double from $26.9 billion in 2018 to $68.4 billion in 2022. This isn’t just a wealthy urban phenomenon. Digital technology boosts the well-being of rural and wealthy customers, as noticed in Gurgaon in 2018.
Mould your technology to the market, not the market to your technology.
The key to success is in the title itself, and that is content customisation. It can be particularly difficult in developing countries to maintain an efficient supply chain. Companies must modernise the logistics, but they must adjust to the realities on the ground. Rivigo is a company in India which has already transformed how trucking and delivering can be done in India. They have adapted both digital systems or physical constructions of its trucks to improve the efficiency and life of its pilots.
Empower Your Customers
Imperfect services, as well as restricted digital connectivity and competences, have left developing markets with fewer data pools than developed economies. On digital channels, in particular in India, where people speak 22 “scheduled” languages, 99 other languages, as well as several thousand dialects and cypher. Linguism and literacy can also be major obstacles.
Firms must respond to these conditions — and those who do this will find means of inspiring their clients. When it was launched in 2012, SocialCops wanted to challenges that affect the well-being of millions of people with no robust digital images in the Big Data Revolution.
The Pradhan Mantri Ujjwala Yojana, an initiative launched during May 2016 to substitute chulhas. It is the conventional clay stoves used for burning wood, coal, dung or other polluting fuels, is one of the most excellent projects of Social Cops. The WHO estimates that unclean cooking fuel kills half a million people a year, mostly women who inhale 400 cigarettes per hour during cooking in their homes. Nearly one-half of Indian households have no access to clean fuel, according to the Ujjwalan Yojana programme, which aims to provide free liquid petroleum gas ( LPG) connexions to the households below the poverty line, as a partnership between the SocialCops, the Minister of Petroleum and Natural Gas and three petroleum marketing companies.
