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: Perfume companies spend a high percentage (sometimes 50%) and camera companies may spend 3%. Even within camera companies, the percentage may vary greatly. The manufacturers of the more attractive cameras may spend a lower percentage (because word of mouth will be high) or may spend a higher percentage (to capitalise on the camera’s superiority).
Most companies try to spend a percentage somewhere close to what they learn their competitors are spending, but this is not necessarily rational. The smart company will determine its objectives regarding how much relative awareness, interest, knowledge, and preference it needs to produce and set the budget that will accomplish its objectives.
India has managed to brand itself quite well, thanks to the software boom. Any advice for marketers who operate in other industries on how they can market themselves and attract global attention?
There are probably a number of Indian industries that can capture leading global brand positions. Tata is seeking to establish leadership in the low cost end of automobiles (as well as in the high end if they buy Jaguar). Tata has also done excellent branding of its steel products. India must figure out where its lower labour costs and higher levels of computer education can be put to the best commercial uses. Furniture, food products, banking, and other industries have to be considered. The Indian government should visualise those industries that are most promising and proceed like the French with their system of guided capitalism....
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