Emerging markets in India growing at 60% for Canon
Canon has witnessed growth of 60 per cent in emerging markets, while top cities have grown 15 per cent, says Alok Bharadwaj, Sr VP, Marketing, Canon India
Marketers cannot afford to ignore emerging markets of India today – this was the focus of discussion at the ‘Real India Conclave’. The initiative is an attempt by Jagran and exchange4media to bring to the forefront the huge opportunities that are waiting to be tapped in the emerging states of India.
Elaborating on how the concept of Real India emerged, Sanjay Gupta, CEO of Jagran Prakashan said that the Conclave was trying to showcase what it means to be in the heartland of India. “The idea was to expose the media fraternity to how the state of Bihar is changing,” he said.
A better tomorrow
“We are here with a mindset of value creation and business. As business leaders, we need to create a better tomorrow,” said Alok Bharadwaj, Sr VP, Marketing, Canon India.
We need to bring in change as nothing is permanent and develop a value creation platform. “I see this happening in Bihar. We can see the effort to create a better tomorrow,” he said.
What creates business is the market; what creates the market is economic activity and what creates economic activity is good governance. On the marketing side, Bharadwaj shared some thoughts explaining the enablers of transformation. The most important one today is globalisation, which creates enormous opportunities for doing business and consumption of the best products. The second enabler is the demographics which continue to play an important role. The third one is media consumption and the fourth one is technology.
“There are 4000 cities that are emerging markets in India. How are we preparing ourselves to do business in these 4000 cities?” he asked.
In the markets that his company, Canon did business in, one third of the business has come from emerging markets. What they discovered was that this one third market grew at 60 per cent, while growth of top cities was at 15 per cent.
In emerging markets, there has to be a strategy that is futuristic, he explained. Marketers have to work on three things: customer value, customer connect and customer trust.
In the next decade, the marketer will see India as not one market, but many markets. The approach for building markets in India is very promising.
The first session of Real India Conclave took place on June 29, 2012 at Taj Mansingh, New Delhi.
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