• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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.

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Case Studies and Analysis section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Case Studies and Analysis essays

  1. Unit 9: Marketing Strategy

    Place: My chosen place of Sutton-on-Sea seems to have been a good idea as when conducting my questionnaire 60% or respondents lived in Sutton. They also seemed to be enthused by the idea of a bakery. In terms of competition, Sutton appears to be the ideal location as many prospective

  2. Investigating Internet Marketing

    For example a monthly plan including 600 minutes & unlimited texts costs �34.26 in store and �24.46 online. This does not mean that it is bad for the business, it is still lucrative but they need to have different price strategies to stimulate customers to buy online and it is what Orange is trying to do.

  1. Infosys and Corporate Social Responsibility in India

    It is here that Infosys has once again differentiated itself from the competition by undertaking ventures that promote science and engineering education as more than simply a means of landing a job. The Infosys Science Foundation (ISF) was set up with the goal of achieving the above.

  2. How Evans Enterprise party and wedding planners could use IT to help manage their ...

    However some businesses actually record their calls for future reference. Along with mobile phones, almost all members of staff will have access to one and therefore it is possible to be in contact with others at all times, no matter how far apart they are.

  1. Disneyland and M&S. I am going to investigate customer service in two separate ...

    Marks and Spencer's first employee people then give them substantial training and provide them with plenty of experience in order to complete their work. During this training employees will learn how to first meet customer expectations then exceed these expectations, in order to achieve this they are taught skills which

  2. Unit 32 P3 explain how the developments in the consumer market have impacted on ...

    Mail order- when the mail service was first invented it was used to send mail from one monarch to another or one leader to another, where they will sell an informative letter to one person to another, but in recent years they have become a famous method to get their

  1. Consumer Behaviour Research. When the holiday decision making plan of 27 Belgian households ...

    unstructured unlike the traditional decision making model .In holiday decision making, information collection was identified to be an ongoing process that still continues even after the holiday has been booked. Information is gathered during and after the holiday experience owing to cognitive dissonance, prolonged involvement/hedonic consumption.

  2. Methods of exporting to new markets.

    These channels include: 1. Domestic Export Departments 2. Foreign Based Distributors and Agents 3. Foreign Sales Branch Companies will probably choose to use a number of different strategies, depending on each market they decide to enter. Most companies will have their own domestic export department, regardless of other methods used.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work