Indian Talent, Global Content
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Indian Talent, Global Content |
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Emergence of a New Target Group in India: 30+ with All the Money
Location: Ahmadabad Station, Time: 9PM In the meantime, Shubham entered the compartment along with two carry bags of food. After a while the train left the station. They had their dinner, arranged the bed rolls and sat down to relax for some time before going for sleep. Abhay took out his mobile phone once more, but not for the spreadsheets this time. He started playing the latest game that he had installed on his mobile. He loved this game a lot and played it whenever he got some free time, usually in the evening when his wife was busy with the cooking and his kid was asleep. So there he was.... racing along the tracks, bumping into other cars, tilting his body a little now and then... he was fully into the gaming mode! While Abhay was deeply engrossed in this virtual world, Shubham was also enjoying his time on his PSP. But unlike Abhay, he was browsing through his movie collection that he had loaded in the memory card of the PSP from a friend in Ahmadabad. He soon found the one he was looking for, put on his ear phones and plunged into his fantasy world! Abhay and Shubham are clearly not teens or the tech-savvy gigs. They are ordinary folk, like the people all around you. But instead of those who spend all their time in the office, they are trying to do something on their own, something that they enjoy. They are independent, daring and confident. We are talking about a new segment of the population of India who are unknowingly becoming a very lucrative market, one that is yet to be targeted by many companies. These people are in their early 30s to early 40s, living mostly in the Tier II cities. They are entrepreneurs who are fairly successful, earning a decent amount to keep their families happy and are confident of having an even better future. They are also married with a couple of kids, who are still in school or just born. They are well educated, trying to make the best of the development that is taking place around them. They deal with lots of people on a daily basis, keep track of the economy and look for opportunities all the time. But what makes them different? They spent their childhood in the pre-liberalization period. Their entertainment was limited to television, movies and songs. They spent their lives playing cricket or football with their friends at the neighbourhood playground. Most of them are from middle class families. There were no weekend-trips to shopping malls, no McDonalds and Pizza Huts for them hang out. Going to the movies was an annual affair at best. But deep down in their hearts they wished for something more. And then liberalization happened! They were in their 20s, and with a good education (up to graduation). Their entrepreneurial instincts led them to jump into the market to make their mark – with their talent and hard work – to achieve a better standard of living. But in this process, they forgot to take out time for their own. They had the urge to make their parents happy and also have a family of their own. They invested every second into their work. As time passed, they achieved most of what they had wished for – a good house, a car, happy parents, a nice family. But now that they have got everything they want, they finally got some time for themselves. With the wives busy with the kids, household work and the ‘K’ series; they have the free time which they want to enjoy doing what they love to do. They are not answerable to anyone (except to their wives at times, no one can help change that) and have enough money to invest in something extra that gives them the desired entertainment, something more than what the usual TV can offer. They are also the most frequent visitors to city malls, multiplexes and trade fairs. They do not just go window shopping, but buy enough goods every month. They also go for holiday trips almost each year with their family and friends. But their childhood desires, those lost days, that’s what attracts them towards the new entertainment gadgets and the internet. Products which are meant for kids or teenagers of these days attract them too. But unlike the kids, they do not have to look up to anyone for money to buy these things. They can buy them whenever they want to and they do so. They buy the latest phones not to flash in front of their friends, but to play games, surf the internet and listen to songs. Even the latest gadgets like PSPs, iPods and laptops which are either meant for teenagers or tech savvy guys attract them. They surf the internet quite regularly, go to the social networking sites, blog to some extent and also do online shopping. If you look at any of the game parlours (like Reliance World) in the cities, you will find them playing FPS or car racing games along with their friends. The topic of discussion among a typical group of such people not only includes the latest in politics or business, but also includes games, software or movies. They have finally got what they are looking for and they are enjoying each and every bit of it! So what does it tell us? The number of people in the age group of 28-42 years in India is around 247 million (according to 2001 Census), roughly 24% of the total population. This age group is a great contributor to the Indian GDP and is driving the current growth in the consumer market. The group we were talking about earlier makes up a considerable portion of this larger group and hence is equally important. Traditional companies have been targeting this group for a long time, but there are many other companies which can target them successfully. As I mentioned earlier, companies who mainly target kids, teenagers or people in their early 20s, can actually shift a significant portion of their focus toward this group also. These companies should communicate how their products help them achieving the ultimate entertainment and associate the product features with the freedom, independence and passion this target group (TG) carries. They not only have the need, but also sufficient resources to fulfil their needs. Hence, if properly targeted, the people belonging to this group can be easily converted from prospective buyers into “the buyers” for such products. This 30+ TG holds the key to success for many products in India, only if someone could target them too. So what are you waiting for? Let’s go Hunting!!
>> Read more articles written by Chillibreeze writers:1. Articles related to Content and Outsourcing
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