In
developing countries like India, how do you select which brands to buy?
Biscuits, dairy, soft drinks, nutritional supplements, toiletries...
Currently, we follow these rules:
- Either it is a big brand, e.g., Hindustan Lever, Reliance, P&G, or the product is extensively advertised with lavish advertising budgets on prime time, which makes it appear cool.
- Or, one has to keep trying different brands and then decide.
In
developed nations, the quality control is so strict that manufacturers
cannot create or import a product below a certain quality benchmark. So
consumers can safely try any new products. Not so in India. Any new
manufacturer is eyed suspiciously and maybe 1 out of 100 new brands
survives in the market. Among non-MNC brands, only those who are well
established over a few decades are able to survive. Any product
manufactured by new startups finds it very difficult to earn the
consumer’s trust.
[To be continued...]
[Comments very much appreciated. Thanks!]
[Comments very much appreciated. Thanks!]
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