A Profitable Passage to India

A Profitable Passage to IndiaAlok KatariyaChirag JainReema JainSaurav KumarV. ChaitanyaVivek Ravi ChandranIntroductionKorean companies in India and their increasing sales and market share.

2Mistakes done by other MNCsThe other MNCs didnt do much to adapt their products to Indian market.

Fords first model Escort and General Motors Opel Astra (both aging versions of midsize) with cost out of the reach of most Indians.

Secret of Korean successDid extensive market research to learn exactly what Indians wanted.

Learned it was important to live up to Indian consumers expectations and Started to think like an Indian local.

Eg. Hyundais Santro and TV sets by Samsung and LG.Korean companies have been building factories since 1997 and make up to 85% of their products locally which helps cut costs dramatically by avoiding high tariffs.

They are further investing in India and Hyundai even plans to export Santro cars to Europe and North America

ConclusionExtensive market research can be used to know wants of the consumers.