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The country chosen for this discussion is India. A number of aspects which have resulted in the Indian markets transformation over the last decade are analyzed below.

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Introduction

(1) Identify and examine the key social-cultural trends, including demographic and lifestyle developments that have taken place within your chosen country over the past decade. The country chosen for this discussion is India. A number of aspects which have resulted in the Indian market's transformation over the last decade are analyzed below. Demographics: The Indian population presents a vastly different mix than what it used to be a decade back. Though the population has continued to grow at a high rate of about 12.5% like in the previous decades and this stays a cause of concern but what has changed is the composition of this population. Urban areas are leading the 'population explosion' with more and more people moving from the villages to the cities. This is both a cause and effect of the declining contribution of agriculture in the country's economy. The family is becoming smaller - though the concept of 'nuclear family' is not new to India. Divorces are on the rise and so are single parent families. More people are getting educated due to the burgeoning number of education institutes even though the education quality of some of these institutes is questionable. Lifestyle: Indians are adopting a western way of living. A large number of Indians are travelling overseas extensively and when back, are expecting to lead a similar lifestyle full of everyday comforts like Dishwashers, Vacuum Cleaners, LCD TV's etc. ...read more.

Middle

In summary, the Indian market for both goods and services has gone through a sea-change which has challenged a number of companies to re-think their marketing model and product mix. Some examples of these would be discussed in the next question within this part. (2) Consider (a) a manufacturer and (b) a service organisation. From your answer to (1) above, choose one example of 'change' for each provider and examine: (i) How this change has affected demand for the existing product / service. (ii) How the provider has reacted to this change in demand (for example, adapting its marketing mix for existing products / services, developing new product / service offerings, moving into new markets, etc.) (35%) Manufacturer - Bajaj Auto Ltd. Bajaj Auto Ltd. is a leading Indian manufacturer of two wheeler and three wheeler automotive products. It was among the first few companies to introduce two wheeler scooters in India with Bajaj Chetak being the flagship product. For a long time Bajaj Chetak was mentioned synonymously with the word 'Scooter' similar to Xerox becoming a synonym for photocopying. Over the years as the Indian society went through a change in lifestyle and affordability, the interest in scooters went down and it was replaced by an interest in high performance motorcycles like Yamaha, Rajdoot, Yezdi, Enfield Bullet etc. The market was also changed by entrants like Kinetic Engineering Ltd. ...read more.

Conclusion

People, while travelling overseas, have been exposed to the advances made in medical science. Another significant factor contributing to the changing Indian healthcare market is the phenomenon of 'Medical Tourism', which is resulting in a large number of foreigners coming to India to get treated for various medical conditions while paying only a fraction of what they would pay in their home country. These factors have resulted in a number of private enterprises coming into the healthcare industry. Due to the nature of the healthcare business it is sometimes difficult for the people to differentiate between various providers. Additional measures need to be taken to get the market share. Apollo Hospitals has shown a good understanding of the market. They have focussed on providing a one-stop shop for the people to make their life simpler. This has resulted in Apollo Hospitals getting into businesses like Diagnostic clinics, pharmacies, clinical research etc. Of late they've also entered the medical BPO market thus diversifying their product portfolio. Health insurance is another product they've added to their portfolio in response to the changing market conditions where the affordability can't catch-up with healthcare requirements. To meet the requirements of the Medical Tourism industry Apollo Hospitals have setup 'five-star' hospital facilities in metropolitan cities. These hospitals have also been working towards getting global industry certifications like Joint Commission International (JCI) and National Accreditation Board of Hospitals (NABH). Today Apollo Hospitals is seen as a reliable healthcare provider. It has adapted itself in the last decade to meet the requirements of new consumer categories like the upper Indian middle class and the overseas medical tourist. ...read more.

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