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Friday, April 25, 2014

The Product Mindset 2013- India report

This reports compares responses from Indian manufactures and consumers on various issues relating to product purchase decisions and compares same with global set. Interesting aspects of the report:

  • Neither Indian consumers nor Indian manufactures concede cost/price is a deciding factor in purchse.
  • Product reliability, safety, environment, are important.
  • But unlike global peers who consider innovation as the primary driver of success Indian manufacturers & consumers attach least importance to innovation.
  • Low level of importance to innovation can be due to sourcing strategy- sourcing is the most global function of  Indian manufacturer's globalization. Innovation does not merit for Indian consumers as novelty wears off by the time the product reaches late majority segment. 
Source: UL

1 comment:

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