This reports compares responses from Indian manufactures and consumers on various issues relating to product purchase decisions and compares same with global set. Interesting aspects of the report:
- Neither Indian consumers nor Indian manufactures concede cost/price is a deciding factor in purchse.
- Product reliability, safety, environment, are important.
- But unlike global peers who consider innovation as the primary driver of success Indian manufacturers & consumers attach least importance to innovation.
- Low level of importance to innovation can be due to sourcing strategy- sourcing is the most global function of Indian manufacturer's globalization. Innovation does not merit for Indian consumers as novelty wears off by the time the product reaches late majority segment.