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Strategic Marketing Plan for Black Thunder

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Table of Contents
Company Background:....................................................................................................................3
Strategic Objectives:....................................................................................................................4
Environmental Audit.......................................................................................................................4
External Market Analysis:...........................................................................................................4
PEST Analysis:........................................................................................................................4
Porter’s Five Force Analysis:..................................................................................................8
Internal Market Audit:...............................................................................................................11
SWOT Analysis:....................................................................................................................11
Marketing Objectives and Strategies:............................................................................................13
Segmentation:............................................................................................................................13
Targeting:...................................................................................................................................14
Positioning:................................................................................................................................15
Marketing Mix Tactics:.................................................................................................................16
Product/ Services:......................................................................................................................17
Price:..........................................................................................................................................17
Place:..........................................................................................................................................18
Promotion:.................................................................................................................................18
Critical Reflection:.........................................................................................................................19
Potential Challenges of Implementation:.......................................................................................20
References:....................................................................................................................................22
Appendix........................................................................................................................................24
Appendix 1:...............................................................................................................................24
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Company Background:
Black Thunder is a well-known brand name in the Asian Theme park and resort industry,

which is situated in India in Coimbatore city in Tamil Nadu state. The company was founded by

Vincent Adaikalraj in 2000 (Bhatt and Bhargava. 2005). This theme park and resort is situated at

the foot of Nilgiris near Mettupalayam. The company was started in the millennium. Presently,

Black Thunder has become one of the valuable listed companies in the Asian theme park

industry. Black Thunder Theme Park offers varieties of rides for children, youngsters and adults.

In addition to this, the company also has resorts within its premises, which is very attractive and

full of unique and modern services for the tourists and guests (Black Thunder, 2014).

Black Thunder Theme park offers varieties of rides to the guest including water and dry

rides. These rides comprise the wave pool, surf hill, two men raft, four men raft, lazy river ride,

cannon ball ride, speed slide, shot gun slide, etc. The amazing rides for the kids are kiddy cannon

ball ride, kiddy pool, aqua ball, side winder, etc. Apart from this, different games offered by the

park are Lake, Thunder Rain, Birds Park, Roller Coaster, etc.

The main motive of the park is to be clean, green and safe. Some additional features

offered by the park are first aid facilities, lost and found facilities. The park has a merchandise

store as well, so that guests can purchase different items as per their needs like toys, T-shirts,

perfumes, shorts, towels, caps, etc. In addition to these, clocks rooks, restaurant, horror house

some additional services are provided by the park (Black Thunder, 2014). This list is not stopped

here, as the park also provides benefits to the guest to enjoy bungee ejection, haunted hospital,

rain forest, sky train, Jurassic jungle as well as 5D Theater.

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Strategic Objectives:
In order to enjoy the benefits of the versatility in the amusement and theme park industry

as well as enjoy opportunities in the hospitality industry, the strategic objectives of the firm are

as follows:

 To increase the number of ride and services in the theme park.

 To improve the quality level of the services in the theme park and focus on strategic

development of the resort

 To introduce new actions and tactics for the growth of the organization in the theme park

and resort industry and attain competitive advantage.

Environmental Audit
External Market Analysis:
PEST Analysis:
PEST analysis refers to the analysis of political environment, economical environment,

societal environment and technological environment of the Indian theme park and resort industry

in which Black Thunder operates. The main benefit of PEST analysis is to comprehend the

various environmental requirements of the business. It also assists in the expansion of business in

other national and international market because it provides necessary information to the

management about the requirements of the business (Wheelen and Hunger, 2010).

Political Environment:

Political environment of India is highly in favor of the development of the theme park

and resort industry. The Indian government has developed different policies to improve the

economic conditions and strengthen trade relationships. It is helpful to create a favorable

political environment and provide positive contribution in the business development (Hill and

Jones, 2007). The Indian government welcomes 100% foreign direct investment, which directly
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affects the growth of the park and its resort. As Black Thunder has also a resort in its grounds,

the political environment supports the investor to show their interest and invest in the tourism

and hospitality as well as theme park industry in India (Krafft and Mantrala, 2009).

On the other hand, the tight security policies also create restrictions for the development

of the resort industry. Indian tourism is promoted by the Indian government at high extent and it

has become one of the main economic sources for the government. The political environment of

the India is effective and supports Black Thunder to expand business in the country

(Aswathappa, 2010). The main opportunity available in the India due to its unique government

policies is to motivate the business firms to operate in the global market. The legal environment

of the country also assists them firm to expand business beyond national boundaries.

Development of IT and promotional policies imposed by the Indian government to

execute new technologies in the resort and theme parks also affect the business in a positive

manner (Krafft and Mantrala, 2009). The company can also hire technical expert from other

countries without any permission, which allows it to impose innovative IT tool to promote the

facilities.

Economic Environment:

The gross product rate and economic growth of the country are some measures used by

the firms to analyze the economic environment of a country. Differences in the income of

individual in each country provide basis of comparison and analyzing the purchasing power

abilities of the consumers. This economic environment is also useful to analyze the buying

behavior of the consumer on the basis of spending power (Wheelen and Hunger, 2010).

The Indian economy is in the growing stage and it is an emerging country. The economic

environment of the tourism industry is at growth stage, which enhances attractiveness of the
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resorts and theme parks. A firm can get an influential and positive business environment in a

country, if it has innovative infrastructure connections. Black Thunder gets positive connections

in the business environment of India.

In India, another benefit is the availability of cheap labor in comparison to other

countries, which provides the competitive advantage to the company (Hill and Jones, 2007). The

estimated GDP of the country in 2014 is $2.047 trillion and estimated GDP real growth rate in

2014 is 5.6% (International Monetary Fund, 2014). It shows that the consumers in the country

have good income status and increasing purposing power persuade development of the resorts

and theme parks. Black Thunder can developed strong infrastructure in different locations of

India and the policies and regulations of the government support the firm along with the

availability of cheap labor. Thus, it shows quite favorable conditions for the company in the

coming years also.

Societal Environment:

In the process of market environment analysis, this phrase means evaluation of the

different factors available in the social environment. Social environment includes attitudes of

consumers, beliefs and values of society and community people, lifestyles and standards of

consumers along with norms. The social environment directly and indirectly affects the business

cycle in a country at great extent.

In order to be competitive, the strategic and marketing planning of the firm should be

very effective (Kotler, 2014). The globalization and emergence of Indian market has influenced

the lifestyle and the adaptability Indian consumers. The children and adults have increased their

interests in the amusements and love to spend holidays and vacations in a natural ambiance (Hill

and Jones, 2007). In the Indian market, tourism and theme park industry is at the pace of growth
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because of its emergence and changing in the consumer life style. The culture of the society is

forcing and enhancing the innovation and thrills, which tourist can get at Black Thunder Park

(Wheelen and Hunger, 2010). The Urban middle class people can easily afford the services of

Black Thunder and get low cost and high quality features. The supporting nature of consumers

and other stakeholders and supporting culture of the firm is very strong to manage the business

operations in an effective manner. The Indian consumers are highly adaptable to manage

innovative culture and global environment, which influences the development of tourism and

resort industry in India.

Technological Environment:

The growth and development of business, mainly in the Theme Park industry is highly

dependent upon the technological improvements and advancements. In different industries,

without having technological innovations, it is not possible for the business firms to making their

daily practices easy. It also assists the business firms to focus on societal improvements and

manage high economic growth (Wheelen and Hunger, 2010).

In India, the technological advancements are increasing and enhancing the business

practices of resorts and hotels. The computerization and wireless technology have enhanced the

capability of the resort management to manage inventory and minimize the queue time. The

business practices of Black Thunder are also advanced because of innovative technologies and

provide competitive advantage to the company to become the leading firm in the Asian market.

The Indian tourism, hospitality, resort and theme park industries are interrelated and the

environment is highly adaptive towards the new technologies and their development (Hill and

Jones, 2007).
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Porter’s Five Force Analysis:

Black Thunder is one of the popular names in not only the Indian theme park and resort

industry, which has established a unique and innovative image among market with every

activity. This is the company which has introduced thrilling and fabulous water rides and dry

rides for the entertainment of the guest and customers with the target of middle and high income

level group in-spite of many competitors in the market (Black Thunder, 2014). Five forces

contribute and shape the competition in the industry. Evaluation of the combined power of

porter’s five forces is imperative to improve viability of the firm to survive successfully in the

theme park and report industry (Wilson and Gilligan, 2005). Following is the five force analysis

for Black Thunder:

Threat of New Entrants: Low

In the theme park and resort industry of India, Black Thunder has the ability to dominate

a huge market with the innovative rides, thrill chills and excitement water and dry amusement

along with the luxurious resort facilities. All these are the eyes and mind influencing aspects of

Black Thunder theme park (World Tour and Travel Guide, 2011). The integration of multiple

services with reasonable cost can be considered as the competitive advantage of Black Thunder,

which uses the differentiation strategy and cost leadership at some extent. The industry itself is

the high profile industry, where the new entrants require an overloaded capital to create a theme

park as well as resort to enter into this industry (Credit Analysis & Research Limited, 2012).

Apart from this, the economies of scale also create barriers for new entrants to enter in

the theme park industry and to affect the brand name of Black Thunder in a negative manner.

Also, it is really difficult for the new entrants to beat the leading players and achieve its place

very quickly, so the intensity of entry barriers is quite high. It is an advantage for Black Thunder

that the threat of new entrants is very low for the company to enjoy many more years of success.
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The Bargaining Power of Buyers: Low

The Bargaining power of buyers is the factor that has low intensity in this industry due to

the incredible and the strong reputation of the theme park in Indian as well as Asian industry. In

terms of Black Thunder, there is a low bargaining power of the customer because the company

will change its price very steadily. Due to the limited economic growth of the global economy

and consumer have limited time for tourism and travel, they would not focus on price of the

theme parks at all. Black Thunder theme park has following tariff plan:

Per Person Tariff (INR)

Adult 600/-
Child (3 to 10 yrs) 500/-
Group 550/-
th
School (LKG to 5 Std.)* 250/-
th th
School (6 to 12 Std.)* 290/-
Collage* 400/-
Note: * The concession will be given to the minimum 20 students of same college or school.

For all schools/colleges, the head should have issue permission certificate or later for the bona

fide of the students.

Table 1: Black Thunder Park: Entry Charges (with effective from April, 2014)

(Black Thunder Ride Facilities Tariffs, 2014)

As per the high profile image of Black Thunder and to enjoy the thrilling and innovative

ride with luxurious hospitality facilities, the customer pays an amount decided by the park

without any question. The guest of the resort can book their rooms and suites as per their budget.

This also facilitates Black Thunder to maintain its competitive position in the market for long

term (Opportunities and Challenges for India: Asian Lessons, 2012).

The Bargaining Power of Suppliers: High

All the theme parks and amusement parks make to ensure that the customer will get

differentiate services and water and dry rides, which is different from another. In order to make
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unique rides, and roller coaster, material for building amazing themes, the management team of

Black Thunder Park has to make contact with the best suppliers (Kaser and Oelkers, 2007). This

industry has limited numbers of suppliers and they have a medium bargaining power to introduce

amazing and thrilling activities and rides. All the suppliers of Black Thunder know that it is a

leading park, which will give business to them for long year. Thus, the intensity of supplier

power is medium, which is quite positive for Black Thunder to maintain competitive advantage

effectively as it pays a quite good amount to suppliers, which increase supplier’s loyalty towards

the company (Brosius, 2013).

Threats of Substitute Products or Services: High

The threat of substitute is a force, which influences companies to make more efforts to

maintain their competitive position (Wheelen and Hunger, 2010). The threat of substitute for

Black Thunder theme park in India is relatively high because of limited leisure time to

consumers. For smooth running of theme parks and maintain low operating cost, it is important

to provide active entertainment facilities to a huge number of customer’s. Indian customers have

several choices for their entertainment, such as they go movie, enjoy some sport events, garden,

etc. instead of any theme park. The consumers get holidays and travelling time once or twice in a

year. Thus, the intensity of threat of substitute is high in the industry because of having many

more options for entertainment (Kaser and Oelkers, 2007).

Rivalry among Existing Players: Medium:

In the Indian Theme park industry, intensity of rivalry for Black Thunder Park is

medium. Here are several theme parks and amusement parks in India in different locations such

as Adlabs Imagica, Athisayam, Buddhavanam, Dash n Splash, EsselWorld, Fantasy Park,

Kottakkunnu, Nicco Park, etc. (Brosius, 2013) All these parks are focusing on the development
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of infrastructure and adding amazing features and attraction to make their presence strong in the

industry. All the strategies and action of the parks to expand business and market shares create

pressure on Black Thunder to implement different strategies, retain customer base and become

competitive (Credit Analysis & Research Limited, 2012).

Internal Market Audit:

SWOT Analysis:
Strengths:

This Black Thunder Park has several strengths including organizational and financial

resources. The Park is situated over an area of 60 acres and it has a strong brand image in the

Indian and Asian market. The natural beauty of the landscape has immense potential to attract

great numbers of tourists (Black Thunder, 2014). The diversified portfolio of services and

facilities, varieties of ride and game zones, resort, etc. facilitates the firm to enjoy huge market

share and profits.

Apart from offering the amazing and innovative services and hospitality, Black Thunder

Park is also popular because of having a wide number of awards and certificates for promoting

the theme and resort industry as protecting the environment as well. The company has achieved

the reward of “Innovative Promotional Activity through media” in from 2009 to 2013 along with

the award of “Total number and variety of rides”. In 2010 its services have been certified as

more innovative rides, with maximum varieties. The company has achieved best HR practices

award in 2014 with the “Electronic Media TV Channel & Radio” for event of the year (Black

Thunder, 2014).

Weaknesses:

One of the biggest weaknesses of the company is the limited publicity and focus on

marketing activities. The park is highly dependent on its water rides and other features for
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publicity and future growth. Local families and tourists are the visitors, but the company has not

made any special and innovative efforts to attract them. Repetitive and uninterested ideas

sometimes create boredom among the target market (Kotler, 2014).

Opportunities:

One of the main opportunities for Black Thunder Theme Park and Resort is to expand

business in the national as well as international market. The company can influences it

international presence to give a cutthroat competition to the rivals. China is one of the emerging

markets for the company to enter and established a strong presence. Tamil Nadu is one of the

most attractive tourist destinations in India and the firm can utilize these benefits in favor.

Agriculture and Zoo Technique forest is an option for the firm to increase its service portfolio

and attract more number of tourists (Opportunities and Challenges for India: Asian Lessons,

2012). In the report premises, the company can also introduce handicraft and traditional clothing

to attract more number of tourist and increase profits. This will also help the firm to promote the

Indian arts and handicrafts in the Asian as well as other international markets.

Threats:

The company confronts high competition from numbers of competitors with significant

resources and investments that are dedicated to closed and proprietary platforms. The theme park

and resort industry of Asia is highly competitive and lack of continuous innovation might be

proven as the biggest failure for the firm. More numbers of choices are available for the

consumer and limited time to enjoy the services of theme and resort might be a threat for long

term success. The company has a huge arrangement, which takes a high amount of time and to

be in the race of competitor firms, it also requires huge capital, which might restrict its
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continuous development and introduction of innovative services (Opportunities and Challenges

for India: Asian Lessons, 2012).

Marketing Objectives and Strategies:

Black Thunder Park and Resort is operating successfully in the industry and now it is the

time to execute different strategies and marketing programs for the promotion of the company’s

services and resorts to sustain long term competitiveness and increase productivity. Following

are the marketing objectives of the firm:

 To increase the sales of the company by 10% in the coming year of operations and 15%,

20% in respective years.

 To increase market share of the firm by 10% in the coming year.

 To enhance the customer base by 15% in the coming year and strengthen the brand

popularity and image to attract more number of tourists.

In order to attain these marketing objectives, following are the strategies for the firm in

terms of STP Analysis and Marketing Mix Tactics:

Segmentation:
In the Indian Theme Park and Resort Industry, Black Thunder is one of the growing and

popular firms, which has segmented its market very carefully. In order to segment its theme park

and resort services and product in the Indian Hospitality industry, Black Thunder uses mainly

demographic and psychographic and lifestyle variables. The Indian Theme park industry is

mainly affected due to regular innovations and unique rides and quick and luxurious services in

the resort. Demographic segmentation enables the business firm to divide its market into

different segments on the basis of population, gender and age attributes. In this concern, it is
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followed by the management of Black Thunder and target different age groups from 5 years to

55 years, including both male and female segments (Peter and Donnelly, 2010).

The company segments men, women, teenagers, youngster, who want to enjoy their

holiday at most attractive tourist destinations and enjoy amazing rides and thrilling adventures

(Govindarajan, 2007). Along with this, corporate people, school students, college going students,

housewives, who are concerned for thrilling adventures and needs peace as well as amazing

ambiance and natural environment to enjoy their weekends and holidays are also segmented by

the company.

Besides the demographic segmentation, Black Thunder Theme Park and Resort also

follow psychographic and lifestyle segmentation, as usually middle class people want a social

stratification and enjoy their time at the luxurious place where they can get high quality facilities

with reasonable and affordable cost.

Targeting:
Black Thunder Theme Park and Resort mainly focuses on the different marketing ways to

conduct market research for the development of innovative marketing strategies and programs to

enhance the popularity of the park and resort and increase the profitability (Vyncke, 2002).

Therefore, the most suitable target markets focused by the company are based on demographic

and psychographic and lifestyle.

Demographics:

 The company targets Children, Teenagers and Youngsters from the age groups of 5 years

to 20 years, who want to enjoy in kiddy pool, aqua ball, water rides, dry rides, roller

coaster and gaming zone.

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 Group of male and female between the age groups of 21 years to 35 years, who want

amazing rides, wave pool, surf hill, rafting, and requires a natural place for peace and rest

in their weekends and holidays.

 Group of Schools and College going students, families and friends circles, who need to

enjoy their holiday at some natural tourist destination of hilly place.

Psychographic and Lifestyle:

 Middle class people, who need some fun and joy in their hectic and boring daily schedule

and need a social stratification.

 School students and college groups, who needs some adventures and fun to enjoy with

their friends and classmates and make their weekends and holidays cheerful.

In addition to this, Black Thunder Theme Park does not focus on using concentrated

strategy and target only one segment because it is highly dangerous to sustain for a long term in

the theme park and resort industry and to operate in the new markets. Therefore the use of

differentiated market strategy is beneficial or the company.

Positioning:
Black Thunder Theme Park and Resort has positioned itself as one of the biggest and

popular brand in the Indian Theme Park Industry with its highly innovative services and

maximum number of rides in the water as well as a dry area. For positioning itself in the Indian

market, the company has executed different marketing tactics and strategies like telemarketing,

word to mouth, etc. so that the diversified concept can be promoted and customers can be

attracted. Use of diversified range of advertisement is imperative for the firm to create awareness

about the latest rides and facilities offered by the park to the guests and to give a tough

competition to the competitors (Krafft and Mantrala, 2009).

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Subsequent is the positioning map for Black Thunder Theme Park and Resort, which

comes under the category of high quality and innovative services and reasonable and affordable

cost to the middle and high class segment. The company targets on both mid range and upper

class income people.

Position Map:

High Quality

Low Prices Black Thunder Theme Park and Resort High Price

Low Quality

Marketing Mix Tactics:

The marketing department considers mainly 4P’s as product, price, place and promotion

to serve as per the customers demand and to increase their satisfaction level (Business
 17

Information Agency, 2011). Following are the marketing mix tactics for Black Thunder Theme

Park and Resort to attain its marketing objectives:

Product/ Services:
The product and service section of Black Thunder Park can be differentiated in three

main categories such as Rides, Gaming and Resort. In order to be competitive in the market and

increase its customer base, it is important or the company to expand its service categories. The

firm can introduce a diversify range of services in its resort and introduce an animated film

show, which will be an additional attraction for the guests (Credit Analysis & Research Limited,

2012). This animated film should include different cartoon characters such as Mickey and

Minnie mouse, Donald duck, Bunny the Pooh, Goofy and many more for children along with

some sincere Indian cartoon and animated features for others like Alladin, Cha-cha Chaudhari,

Sabu, Motu Patlu, etc.

Apart from this, the Park can also add agriculture and Zoo Technique forest to serve

something different to the customers and provide them a unique experience. It is significant for

the firm to comprise extraordinary adventures. As per the segmented and targeted customers,

marketing professionals should focus on the personal merchandise for them to increase sales of

the park and fulfill their entertainment zeal.

Price:
As a part of pricing strategy, the innovating price formula should be adopted by the

management of Black Thunder Park to sell its services and enhance sales of its merchandise

shop. It is because such innovating price formula will help the firm to attract more number of

customers. The main focus of Black Thunder Park should be to attract mass population involved

in the theme park and hospitality industry. It is important for the company to keep in mind that
 18

pricing should be for middle class segment and quality should be for high class segment

(Brosius, 2013).

According to Appendix 1, growth of middle class people in the India is high, who are the

permanent guests in the park. Changing in the social stratification of people influences their

behavior to buy quality and luxury services but within an affordable cost (Opportunities and

Challenges for India: Asian Lessons, 2012). According to current prices of tickets, which are

600/- INR per person are quite affordable for the customers, but still there are some opportunities

to add some discounts on tickets for individuals and for family visits (Black Thunder, 2014).

Place:
Black Thunder Theme Park and Resort is situated in Coimbatore city in Tamil Nadu state

of India, which is very popular in not only India but also in Asia. It is Asia’s No.1 Water Theme

Park, which has also introduced resort in its premises. The location of the park is highly

enthusiastic and fills with fun and joy. The natural beauty of Nilgiris Hills and its gigantic

surroundings and fresh Air, and Fun is astonishing to give internal peace and thrilling feeling

(Peter and Donnelly, 2010). The company has the opportunity to tap into new destinations to

increase its popularity and target more customers to enhance market share.

Promotion:
To promote the organizational products effectively and efficiently various promotional

tools as television, radio; internet, billboard, advertising and campaigns are used by the business

organizations. Currently, the promotional strategies of the firm are not so strong and enough

adequate to attract more number of tourist and guests to use park facilities, rides and their

services for their entertainment instead of going shopping mall, garden and other entertainment.

Nowadays, when technology has introduced innovative informational tools, it would be

beneficial or Black Thunder Theme Park and Resort to focus on execution of online advertising
 19

and promotional strategies along with the offline solutions (Govindarajan, 2007). However the

firm is using Tele-marketing, direct marketing and word of mouth. The most important

promotional technique for the firm is the public relations, which will enable the firm to explore

the features and attributes of the company and its services to the current and potential target

market.

By using social networking sites and personal e-mails, the firm can contact with the

individual customers and provide different benefits and offers to use innovative features and

services of the park and resort (Peter and Donnelly, 2010). The company can also promote its

services by making a promotional campaign with different punch lines like adventurous feeling,

thrilling zone, and natural peace. The promotion through social networking website will enable

the firm to approach global consumers within low cost and quick time. Moreover, it is also

important for the marketing team of park to understand the needs and requirements of the guest.

They can collect their personal information at the time of first visiting or through survey and

events to make them long term contact and offer them different discount and the scheme of the

park and resort (Kotler, 2014).

Critical Reflection:
Indian is one of the growing and emerging economies. The natural beauty and attractive

destination has made it one of the incredible tourist destinations. Black Thunder Theme Park and

Resort is also situated at on the greenery and fresh air environment at the foot of natural hills of

Nilgiris. The segmentation, targeting and positioning including marketing mix tactics are very

influential and effective for the further development of the marketing and promotional program

of the firm and attain its objectives.

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One of the biggest strengths of the segmentation and targeting strategy is to focus on the

potential customer, who is really interested to use the services offered by the park. It will make

possible for the marketing team to make their focus on the target. Inclusion of more services and

facilities in the resort will allow the marketing team to approach more customers with diversified

needs. Inclusion of extraordinary adventures in the park services and targeting a new tourist

destination will help the firm to create competitive advantage for the firm for the long term

(Peter and Donnelly, 2010).

Moreover, use of digital communication tools and electronic media will facilitate the

management of the park to make the park and resort popular in the national as well as global

market. By this way, the firm can attain all its marketing objectives and increase sales, customer

base and enhance market shares.

Potential Challenges of Implementation:

However, the proposed suggestions are very effective for the company to enhance its

future growth, but it is really challenging for the firm to implement all these suggestions in an

effective manner. Due to changing and diversified environment, customers are changing their

needs regularly. Thus, firm have to think over the services and innovation on a regular basis. For

execution of new innovative services, there is a need to have huge capital and highly talented

people.

In addition, the continuously changing economic level and income status of the consumer

will also create problems for the park management to keep a fix pricing strategy. It will be

challenging for the marketing team to find out new innovations and different rides, because the

concept of Black Thunder Theme Park and Resort is already based on unique innovations

(Kotler, 2014). If the firm fails to execute differentiate services, which will not like by the
 21

potential customers, it might be a huge loss for the firm. Further, the expansion of business to

different location need enough time with experienced human capital and huge money to invest.

The concept should be different from the competitors for long term success, which is challenging

for the firm.

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Appendix
Appendix 1:

Growth of Middle Class Population in India (Opportunities and Challenges for India:
Asian Lessons, 2012)