How to research and market in “Incredible India”

With a population of 1 billion, India has the world’s second largest consumer base. However, this figure can be very deceptive. Based on the type of product, the actual market can be a small fraction of the larger population. The country’s tremendous diversity in terms of languages, cultures, income and living standards presents a particular challenge for brand owners. India has 14 official languages and over 300 local languages and dialects; consumers range from millionaires to people who make under $5 per day; there is a complex caste system; some of the population lives in cosmopolitan cities while 70% live in rural areas, some in remote villages without electricity. With this background, how does a brand owner form a view about market potential and develop the best marketing strategy?

Source: How to research and market in “Incredible India”