What are the most important factors influencing buying in India? – Price, Quality, Delivery, After Sale Service
It’s easy to generalise here and say the three most important factors in the Indian market are simple: price, price, price. However, while it is true that the market is generally one of the most price sensitive in the world, other factors play a role – especially for foreign goods and services.
For a start, it all depends which bit of the Indian market you are talking about. In the answer to b2c (link) we talked about the three major segments you find in the Indian market – and this relates to b2b services and products as much as b2c. The premium market is a small part of the total market – but still 100s of thousands of potential customers (just dispersed across a country the size of Western Europe). For this premium market price is important – especially for some products and services, but in many products quality and delivery will be more valued.
It is also true that in many market segments “foreign” goods are perceived differently and valued slightly differently because of perceived higher quality. As domestic producers have improved quality and as cheap Chinese products have flooded in, the idea that foreign means better has been diluted a lot, but products from traditionally “developed” markets are still able to command a relatively higher price due to perceptions of quality. To maintain this for your products it is important that you ensure your after sales service.
M+V can help you understand your market better, and our after sales service can ensure that you can maintain your brand’s reputation as value for money by giving you countrywide repair and replacement networks that otherwise take a lot of time and resources to set up.