How MBA grads can get its market share using pricing?
Strategies employed by companies for their market share
India is a price-sensitive market. Emerging brands and new startups have given MBA holders of Top MBA Colleges, a fierce fight just based on pricing. Officials that have traditionally not compromised on margins have loosened their tight grip on pricing to match the changed market realities. Brands across industry verticals have used pricing to gain momentum in the rapidly expanding and lucrative Indian market.
The Smartphone market in India
A smartphone is gaining significant market share in the Indian mobile phone market. Besides this, global players like Samsung, Motorolla, Apple, and HTC, are emerging as home-grown brands like Micromax and Karbonn. They have captured a significant share in the Indian market to benefit the students of Best MBA College in Jaipur.
Research has been conducted by the MBA Colleges in Jaipur which says that one in every four Smartphone sold in 2016 were from an emerging brand. Also, 15.2 million smartphones shipped in 2015 were from emerging brands which is set to double this year at 32.5 million units, representing 25% of the market.
Moreover, Samsung continues to dominate the Indian market. Students of MBA in Marketing see that the company has some serious competition from home has grown brands such as Micromax, Lava Mobile, Celkon, Karbonn and Intex. In order to defeat the threat posed by these emerging brands, Samsung introduced a low-end Smartphone at a low price.
Consequently, Samsung has raised its share of India’s smartphone market by almost five percentages. It cemented its position as the number one device manufacturer in India. To underline Samsung’s price-point specific strategy, their gain came mainly at the expense of closest rival, Micromax.
Clearly, the Indian consumer is looking for value for money. While there is a high-end market dominates by the Apples of the world, the large mid-segment market values quality when making the combination with an appetizing price-point.
Significance of pricing in the B2B landscape
The Indian software exports market dominates by three players viz. Tata Consultancy Services (TCS), Infosys Ltd. and Wipro. Just a decade ago, students of /’ had not broken into the top league of IT solutions providers in the country. The company’s strategy of sacrificing margins to gain market share paid off as it eventually broke into the top three. It has come across as a lower-cost alternative to global firms as against some of its Indian peers who have been reluctant to operate at lower margins.
In conclusion, pricing is an important part of the market entry and consolidation strategy in India. Both consumer and business-to-business brands have benefitted by taking this route.