Indian mobile companies have rarely come out of their comfort zone and tried their luck in the international markets. They need to shift their focus from bookish business planning to plan their business well in domestic as well as foreign competitive markets.
The foreign companies are always on the go to meet their customer expectations by innovating and bringing in the best prices to the market.
However, Indian companies are still lagging behind when it comes to meeting customer needs in terms of innovative offerings or value for money.
Successful businesses that have dominated the industry for decades whether be it Microsoft or Google or any other small shop have understood and fulfilled the customer needs in a cost-effective manner.
Today, customer demands are changing rapidly and it is the need of the hour to deliver products which meet these changing demands.
Many Chinese companies have become consistent leaders in understanding these demands and have come up with new and innovative products in the market.
Chinese mobile phones now have over 40% market share in India.
Indian entrepreneurs need to focus on enriching their existing products and bringing them at par with international standards.
There has to be a stop on designing inferior products for local markets and resources should be channelized to make globally cost-effective and value-added innovations.
Customer buying decisions are always based on quality and price comparison and not just nationalism. No matter how hard an economy tries to block global competition the best products will always find a way to reach the customers.
