McDonald’s has done it again. In the past, it had customized its menu to suit the taste buds of its customers in India and now it dishes out something for the spicy-food lovers as well. It has introduced a new range of spicy food exclusively customized for India. It is one of those organizations which realized quite early that success in India depends not only on introducing products that have been successful globally but the extent to which these global products have been Indianized. We saw that with the introduction of more vegetarian dishes earlier and now the spicy range. So it is certainly spicing things up here! Introducing a whole new range will certainly lead to more footfalls as there are many who shy away from McDonald’s for want of spicy food. I may be wrong when I consider people preferring ‘spicy-food’ as a niche market, as the number of people preferring it is huge in India. But creating a whole new range of products specifically for these people certainly qualifies as a niche, I feel.
Second example that I came across recently is of Axis bank. New ad by Axis bank shows a typical young couple arguing where the pregnant wife is not happy with her husband for preferring his banking related work over her and then the second part of the ad shows a bank guy coming to their doorstep to get the work done. It essentially talks about the priority banking service provided by the bank where it is prepared to go the customer’s place in cases like these. This just goes to show what competition can do the industry. Not long ago, it was a pain going to banks and getting your work done and now they are coming to your place!
And mind you these both examples are of companies which are more popular for serving the mass markets. But the way things are going, even this kind of companies cannot ignore the niches. And anyways it makes sense for companies into mass products to serve the niche market as well if it is cost effective. Let’s say in case of Axis bank when you go to your client’s place it helps you develop that rapport and know him better. Who knows you may just end getting another client for opening a savings account when she delivers! I may sound too imaginative when I say this but when the competition is cut-throat even the niche markets need to be served.
Second example that I came across recently is of Axis bank. New ad by Axis bank shows a typical young couple arguing where the pregnant wife is not happy with her husband for preferring his banking related work over her and then the second part of the ad shows a bank guy coming to their doorstep to get the work done. It essentially talks about the priority banking service provided by the bank where it is prepared to go the customer’s place in cases like these. This just goes to show what competition can do the industry. Not long ago, it was a pain going to banks and getting your work done and now they are coming to your place!
And mind you these both examples are of companies which are more popular for serving the mass markets. But the way things are going, even this kind of companies cannot ignore the niches. And anyways it makes sense for companies into mass products to serve the niche market as well if it is cost effective. Let’s say in case of Axis bank when you go to your client’s place it helps you develop that rapport and know him better. Who knows you may just end getting another client for opening a savings account when she delivers! I may sound too imaginative when I say this but when the competition is cut-throat even the niche markets need to be served.
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