Both emerging and both have a population of over 1 billion people each. So what’s the difference between the two economic giants?
1. Infrastructure
China’s got it. India needs to get it together.
2. Class
China’s already got 300 million in the middle class. India’s got only 50 million. However, India is a country that is turning “one billion people into one billion consumers,” says Manvinder Banga, the president of Unilever’s global food and personal care division. Whichever strengthens its middle class faster is what will matter the most.
3. Bullseye
China’s got a bigger target on its chest. The news about China isn’t always positive, but any news is better than no news. Self-marketing and building better international connections will generate more economic dollars.
Two Questions
1. What major differences do you think separate China and India?
2. If you were a food retailer, FMCGer, auto company, or bank, where would you invest? Why?
Whether you agree or disagree, we’d love to know what you think. Leave your opinion, thoughts, and/or comments below. Useful links to resources providing additional insight are especially appreciated. Thanks. =)
Absolutely. The recall is an astronomical headache for Toyota, especially in China. More and more people are looking to buy cars as the middle class continues to grow. And for many, it’s their first time buying a car. A recall is not something that will attract a first-time car buyer let alone a loyal customer.
Let’s focus on what Toyota should do to help turn that frown upside down in the world’s largest automobile market.
1. Fix the problem as fast as possible.
Actually, Toyota is already doing a phenomenal job at finding affected vehicles and replacing the faulty parts. Keep up the pace, Toyota.
2. Be honest.
Honesty is the best policy. There’s no point trying to cover up anything. Just like Donald Trump said, “Any news is better than no news.” Toyota can actually turn this blunder on its head and saturate the world’s largest car market (and one of the newest for Toyota) with its name. Get in the consumers’ faces, own up to the problem, fix it, and show new buyers that their products are still of great quality.
3. Market the market.
This mechanical mix-up will make Toyota even stronger. They just need to show how much they really care about their customers, current and potential. Everyone makes mistakes. With the right marketing and advertising, Toyota will get through this in no time.
What do you think?
Whether you agree or disagree, we’d love to know what you think. Leave your opinion, thoughts, and/or comments below. Useful links to resources providing additional insight are especially appreciated. Thanks. =)
Related Links
http://edition.cnn.com/2010/BUSINESS/01/29/toyota/index.html
http://connecttheworld.blogs.cnn.com/2010/01/29/will-recall-hurt-the-toyota-brand/
