The year 2006 has seen several international heads of agencies visiting India and sharing their vision for the country. The latest in this long line of visitors is Robert Lerwill, CEO, Aegis Plc, who shared his views about the growing market and opportunities in India in an event organised by the Aegis Group on December 20, 2006. Also, a presentation was made by Uday Kagal, Research Director, Synovate India group, which threw light on the affluent section of the society and the opportunities it presented.
Commenting before the presentation, Lerwill said, “India is in our broad view and any major agency cannot ignore this. The future growth will come from China and India, in fact, China already is one of the largest ad markets and India is headed there. We are helping our clients create dialogues and opportunities to make the best out of it.”
He further said, “In India, only 2-3 per cent of the media is in the digital space at present, but this is changing and there is a need to take steps in this direction already, so that when the game begins, you are already in a good position.”
This was followed by the presentation by Synovate India, titled ‘Emerging opportunities at the top end of the pyramid’. The presentation dwelt on highlighting the increasing opportunities among the affluent class in the country. While making the presentation, Synovate’s Uday Kagal talked about the complexities of a country like India along with the diversities involved for the marketers.
Stressing on the growing population (read market), Kagal also spoke about the possibility of slicing and dicing the market without creating any major differences in size. It also explained the various classes prevalent in the market and highlighted the needs of each market besides showcasing some of the important opportunities presented by them.
According to the presentation, statistics revealed that cumulative liquid wealth was estimated to be around $322 billion by 2009. It went on to explain the potential of growth in various fields citing examples of increasing credit card ownership, Internet usage, etc. The other point emphasised on in the presentation was the opportunity offered by the youth market in the country.
Some of the insights offered by the presentation talked about the changing mindsets among the affluent class and the rise of acceptance of ‘badge value’ among them.
Coming as they did at the end of the year, the developments and Lerwill’s visit can only catalyse Aegis’ growth plans in India.