subject: Mass Marketing In Niche Markets [print this page] Mass Marketing In Niche Markets Mass Marketing In Niche Markets
LG's first attempt to enter the Indian market went tumultuous due to problems synergizing with local importers. But since 1997, following the Indian government's green light for a state-of-the-art white-goods factory at Greater Noida, in the state of Uttar Pradesh, the South Koreangiant has not looked back.
Albeit, it is important to note that it took quite some time to achieve that market position. According to Kwang-Ro Kim, Managing Director of LG India, "Over the years, LG has made many mistakes in overseas markets, learning through trial and error, and it was that experience we brought to India. We knew it was important, for example, not to downgrade the Indian market and instead to treat it just as seriously as we would any developed market. That meant preparing a full strategy and emphasizing good-quality products, the best technology, the best network, and access to the best people."
What one canadditionally extrapolatefrom Mr.Kim's insights is that the level of patience required is much greater than that of local markets. An entity willing to engage in international business cannot expect to have the same timing of learning-curve end as with their local markets. It takes time to explore consumer tastes, employee preferences, public sector dynamics etc. "We thought China was an easy ball-game because of its historical ties with Pakistan, but it took us quite some time to adjust," notes Abid Samad, Director at Ovex Technologies, when commenting on the transition of setting up Chinese operations for a Pakistani BPO.
