Prior to entering the Indian market, Ferrero had already established itself worldwide. The company had made a name for itself through its commitment, focus, and innovation. In general, India is known to be a very price-sensitive market, making it incredibly hard for companies to generate profits in the market.
During the early 2004s, Ferrero was sure that it had a huge market in India. Therefore the company decided to launch its products in India, however, it did not establish itself like other companies. It began by investing in market research options itself and did not hire an external firm. So what marketing strategy did they adopt? Ferrero planned to launch itself and send its team to visit homes and collect the information itself. It began by visiting homes and collecting essential data from them. That helped them to ensure that they had a strong market sense from the beginning. Furthermore, they worked on their accessibility. The chocolates were to be found everywhere, even in the local shops. However, it ensured that the quality was not compromised so it began by providing such shops with a very low stock of it. This helped them achieve their target market from the beginning.
Moreover, the company valued customer service to a very great extent. It ensured the availability of its products to even smaller stores such as Kiryanas while making sure the quality of the product was not compromised. The company also tried interacting with the Indian market after it decided to launch a specific flavor of Tic Tac “Elaichi Mint”. This was a personalized effort of the company to ensure that it retains its position in the Indian market by offering them products of their preference. All in all, Ferrero was successful in entering the Indian market because of their precise market analysis, and customized strategies to cater to the consumers.