Government Identifies 22 Towns As Future Growth Engines: Puneeth Bekal, Mastercard
Puneeth Bekal’s work at Mastercard in the last followed the brand’s multi-layered marketing strategy to create a deeper connect with consumers in India. This is despite the challenges that India as a market poses in this space. Bekal however is bullish on what India means for Mastercard.
Marketers in India have increased their spending, and a key highlight is the focus on tier two and tier three markets. Bekal quotes this as an example to indicate the headroom for growth in a market such as India.
Untapped Potential
“The government has identified 22 towns as the next growth engines, which is a clear indicator of India's untapped potential,” says Bekal, adding that in the last year, nearly 80 per cent of new ecommerce consumers were from these markets. This metric is enough for a player like Mastercard to increase its investment in India.
He also advises that India will remain an exceptional market where all forms of media will see growth. The consumer base in India is growing across echelons and according to Bekal, it would be advisable for marketers to draw their plans keeping consumers and their marketing objectives in focus versus being swayed by the temptation of trends or newer channels.
