Billion Dollar Opportunities from Traditional Products for Innovation and Growth

Diversity offers ready to explore Billion Dollar Opportunities for Innovation and Growth

By 

Vijay Sardana

World famous Wines, Cheeses, Sauces and Scotches were regional products before they became global brands. There are many large number of products which were regional or local products before they started journey to became global products. 

Indian regional diversity offers huge opportunity to explore many ideas from every region. In this article I will share region opportunities with global potential. I am sure you will identify one or two ideas which you may like to explore...

What is diversity and its benefits to society...

When most of the sectors are facing recession and growth opportunities are appearing limited. Hunt for right product-market mix is becoming a serious consideration in corporate board rooms. Very often large number of corporate try to hire many consulting companies to understand what people want to eat or buy from the market. Many ideas sometimes sensible and very often not so sensible are placed on the table with a hope to crack the jack-pot in the market place. 

The very unfortunate part is that time tested ideas which are already popular but not considered to explore business potential? WHY?

Is this that difficult to understand what people want or eat in daily life? or it is just that our education system do not educate our budding managers about our traditional foods and their potential in their of market and nutritional benefits.

The only thing sensible managers have to do is to is come out of your rooms, walk on the street and go to the place where there is crowded market and see what people are doing. It will be great experience to understand what people buy and why.

It is not an easy exercise, because the prevailing mindset needs change and managers have to open up their thought process. Hopefully, college education has give them ability to THINK beyond what is they are doing as robot every day.

Opportunities are all over along the road side and near peoples home, but if you are a manger who ALWAYS prefers to travel by air, stays in five star hotels and used company booked AC cars and eat in five star hotels and avoids mixing with common man and their true customers on daily basis and believes in taking conducted tours of markets organised by their subordinates and consultants once in a while as part of so called official MARKET VISIT , it will be very difficult to under the factual and honest signals of expectations and desires from their consumers, customers, markets and also their complex decision making process. 

Why frequent visits to existing and potential  market by senior management is important?

What one can experience from his or her senses, cannot be described in writings with the same intensity and gravity. After all God has give us FIVE senses to enjoy life to the fullest both in leisure and while doing work. Unless we use our five senses effectively, it will be difficult to develop sixth sense which is vital in taking sensible business decisions. Very often we call this sixth sense by another name i.e. "gut feel".

I agree that it is not possible to reach every place all the time, that is why, let me help you in understanding what people enjoy or eat in daily life in various parts of India. 

It is also important to ask Government of India, how many projects in various research institutes are working on Indian traditional foods to make them globally accepted products?

Please see the following picture very carefully. 

Can you see something unique or some pattern in the provided information?

Please see the picture very carefully and give time and think about it. More you will see and think about the given information, more interesting facts will emerge. 

I am sure you must have seen the picture carefully many times and also the names mentioned with each state.

Can you please list out the following:

1. How many states have traditional fast food or traditional convenience foods in their "Must Try" list?

2. What is the nutritional value to these traditional fast foods in comparison to western fast foods?

3. Why there are no traditional fast food chains?

4. How many types of traditional beverages are there in "Must Try" listed items?

5. What is the nutritional value to these traditional beverages in comparison to western beverages?

If you have the answer of the above questions, then please also tell me, are we adopting the correct model of development?

Are we offering  sensible food products to our consumers or just promoting and feeding them with something which are inferior products then our own traditional products.

Think about it !!! 

Don't you think we should promote and manufacture products which people like to eat and eating since ages?

What can be better business opportunity than making a product for which there is a ready market?

Are you willing to look at them...if yes..

Please read the picture again.

The diversity of Indian food habits offers huge opportunity to innovate to grow your businesses. While doing so, please ensure that there is no compromise on food safety and hygienic. 

If you are planning to do it on commercial scale, ensure food laws are respected and followed in true letter and spirit. 

India is a market of 1250+ million people. There is place for everyone, provided everyone is doing good job. 

I am looking forward for your views...

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