INDIA: Sinha speaks of India's huge potential
India is a market still in its infancy when compared to global per capita consumption but it still offers huge potential to those wanting to increase depth of consumption said M P Sinha PepsiCo India chairman.
According to a report by the Business Standard Sinha, speaking at a keynote address organised by the Confederation of Indian Industry (CII) said that rural India has a huge potential but the early bird will most likely get the worm. "It is not just about being there first, but being there first in a way that is relevant and meaningful to the needs of the consumer," he said.
Sinha continued to speak about how the key for breaking rural markets is greater flexibility in meeting local needs in terms of packaging, unit pricing and linkage of brands with what the customer relates to.
He said that the Indian market is yet to attain maturity. For a lot of consumer marketers the challenges ahead require going back to the fundamentals instead of getting completely carried away and looking at our country with technology-tinted glasses.
It has also been reported that Pepsi's rival in the carbonates business, Coca-Cola India is to transform itself to a total beverage company with the launch of a range of products including ready-to-drink tea and coffee, sweet lassi, pure juices and stimulant drinks.
The possibility of a joint venture with Coca-Cola and Nestle to introduce ready-to-drink tea in India has not been ruled out either. According to the Business Standard Shripad Nadkarni, vice president marketing Coca-Cola said this is one of the options the cola giant is looking into
Coca-Cola would not comment further and refused to disclose when it plans to launch any new products in the Indian market.
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