The
world’s business press is going gaga on a success story called India; how
we have grown in the last decade; how we could get to be the top 3 economies of
the world soon and so on. I am proud and all that, as much as you are.
Yet,
as a marketer, graciously allow me to claim so please, I was always
worried about how as a nation we had a bigger problem to confront. Our economy has
been largely demand-led. It’s the internal consumption economy of ours that has
been driving our growth; nothing wrong with that. But for us to grow in stature
and lead the world we need to grow strongly through exports and, more
importantly, we need to conquer world markets with Made-in-India brands.
Put
simply, we need Indian brands, in more than a few categories, rule the world. I
always wondered if I would ever get to see in my lifetime, Made-in-India
brands dotting the top sellers list across the world
Unfortunately, to start making world-beating brands we had to correct years of a deprived
image that India has had; a third-world country with third rated facilities that
had rotten and could stand up only to raise a begging bowl at the World Bank or
the IMF.
Students
of International Marketing would know the term, Country-of-origin effect. COE is
any influence that the country of manufacture, assembly or design has on a
consumer’s positive or negative perception of a product. A company competing in
global markets today manufactures products worldwide; when the customer becomes
aware of the country of origin, there is the possibility that the place of
manufacture will affect product or brand image. Consumers tend to have
stereotypes about products and countries that have been formed by experience,
hearsay and myth; English tea, French perfume, Chinese silk, Italian leather,
German beer, Russian vodka, Jamaican rum to name a few.
Given
this, and with an image like what we had, I used to think what we should do to
make Indian brands big in world markets.
I wondered how, if at all, we could rectify this image crisis.
Now,
I see the seeds of change being sown; slowly yet surely. Not through an
advertising campaign to change world’s view about us; not by a Public Relations
initiative to rectify fallen image; but from an unexpected source. Human
trafficking!
Don’t
get me wrong. I am not talking about flesh fetish here as much as export of the
gray kind: Indian talent and intellect!
MasterCard,
Pepsi, Citibank, Reckitt Benckiser, Motorola, Deutsche Bank, Vodafone and
McKinsey….Do you know all these MNCs are or were headed by Indians?
Do
you know, ever since Kraft bought Cadbury’s, it has picked 21 top crew
from Cadbury’s India operations and has sent them to head its different
divisions across the world?
Time
magazine says CEOs are India’s leading
export!
And
therein lays a trickle that is waiting to grow into a torrent. Indian talent is
now global property. Indian intellect is leading giant corporations. Added to
it our, the now clichéd, software prowess, India would begin to be seen hi-tech,
talent rich and intelligence endowed. In other words, the perfect launching pad
for the world to see us in a different light.
Hopefully,
in the near future, just as Swiss cheese, German engineering, Japanese
miniaturization….it would be time to add a new Country-of-origin effect: Indian
intellect!
Now
is the time for Indian manufacturers to enter categories that require intellect
and talent: packaged software, publishing, education, low-cost engineering,
pharmaceuticals, R&D, space exploration and the works. Now is the time to
build Made-in-India brands. I know our companies will. And I also know the
world will begin to accept them with glee.
I
am confident, now more than ever, I will see Indian brands rule the
world…in my lifetime.
7 comments:
Perfect.. Pretty obvious.. V r headed right there pretty soon.. In a way, Thanks to the concept called "JUGAAD"...
A post perfect for the Independence Day.
Economics, Marketing & Patriotism served in a platter; delicious as always!
Keep writing.
its a really nice one information.it help me know about the business and marketing.
What a nice post....a pleasure reading it as always...
Just to add to what you have already written..I don't know if you already know it but Indian born Anshu Jain has been selected to be the Co-CEO of Deutsche Bank. This is really truly an achievement...Deutsche Bank is a German Bank in heart and soul and knowing Germans it is not everyday a non-German gets to the top rung of the company...
He heads the Corporate and Investment Bank disvision and in April 2010 his division contributed to 80 percent of the revenues of the bank. The very fact thats he's been nominated Co-CEO just shows his greatness...I guess we should all be poud of this...For those of you who haven't heard of him...Go to wikipedia and type Anshu Jain....
He joined the bank in 1995 and in 16 years at the age of 48 he's been nominated as co-CEO.....We should be really proud...
Anyways, keep writing....I actually look forward to your posts...:)
when a guy from any other country read this am sure that, his/her perception towards India will surely change and even they all will accept and understand the reasons why CEO's are leading exports of India... and as a marketer its my duty and as your student its my responsibility to change Indian brands... as u told it will not be by advertising or by PR for sure... only by Indian Intellect... u will feel proud to be an Indian soon sir...
when a guy from any other country read this am sure that, his/her perception towards India will surely change and even they all will accept and understand the reasons why CEO's are leading exports of India... and as a marketer its my duty and as your student its my responsibility to change Indian brands... as u told it will not be by advertising or by PR for sure... only by Indian Intellect... u will feel proud to be an Indian soon sir...
when a guy from any other country read this am sure that, his/her perception towards India will surely change and even they all will accept and understand the reasons why CEO's are leading exports of India... and as a marketer its my duty and as your student its my responsibility to change Indian brands... as u told it will not be by advertising or by PR for sure... only by Indian Intellect... u will feel proud to be an Indian soon sir...
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