In our last blog entry we talked about the opportunities in the quickly evolving Indian market and our plans to launch a new venture in India. The last few months have seen feverish activity to put everything in place and formulate a base on which to launch our new venture. This has involved sales and distribution agreements, strategic partnerships, marketing plans, through to office space and recruitment.
However, putting logistics in place is just part of the equation, and in some ways it is the simplest bit. One way is to base these decisions on what has worked in the UK and try to replicate the set-up. And this is where many companies looking to build business overseas often go wrong – they assume markets are the same all over the world but it’s clear that every international market is unique and need to be taken on its own merits.
This is particularly true of the Indian market. Many international businesses see the billion-plus population closely followed by dollar signs, but it’s not as simple as that. We’ve invested more time in researching and understanding the market/business culture in the last three months than we have in putting initial logistics in place. We’ve looked at market trends and at local pricing in particular. We’ve looked at the country by region, trying to understand where to focus our initial business efforts.
With logistics falling into place and our understanding growing, the next steps are being mapped out. So make sure you follow us on this exciting journey.