IIPM - MEDIA

Monday, August 23, 2010

Nutrivita PRESENTS 100 MARKETING BRAINS THAT MOVE AND SHAKE INDIA

C. S. Jain

Head – Personal Banking Group, IDBI Bank

In my view, the best moment to market a product is when you have satisfactorily resolved the complaint of a customer and he is visibly delighted with the result. In my career, there have been several such occasions. The one which comes up first to mind is that of a manufacturing company struggling in BIFR and struggling with my bank then for funds for daily operations. They called on me and I personally extended the courtesy they deserved and restored their dignity. I heard them with all attention and found only partial resolution to their problems. They came out of BIFR much ahead of schedule and today maintain personal deposit accounts in excess of Rs.50 crores, company loan accounts and staff accounts also are with the Bank.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
“We will change your outlook” - The Sunday Indian on B-SCHOOL RANKING SCAMSTERS EXPOSED! A must read...
The Sunday Indian:-
B-SCHOOL RANKING SCAMSTERS EXPOSED!
For Exclusive Footage by Sunday Indian Click Here

Outlook Magazine's B School Ranking Scam Exposed
Business Standard Exposes the Outlook Magazine Money Editor
Don't trust the Indian Media!

IIPM enters into media education
IIPM makes record 10,000 placements in five years
TSI exposes b school ranking scamsters Mahesh Peri of Career 360 and Premchand Palety of C fore. - For Complete Sting Operation Video Click Here
Pioneer Exposes the fraud called Mahesh Sharma and Mahesh Peri of Career 360 and Barbel Schwertfeger of mba-channel.com
IIPM: An intriguing story of growth and envy
Prof Arindam Chaudhuri of IIPM on MF HUSAIN‎

Friday, August 20, 2010

KING KHAN HAS DONE IT AGAIN

BOLLYWOOD’S KING SRK HAS done it once again! Shah Rukh’s much hyped and much awaited movie My Name Is Khan seems to be on a record-breaking spree. The movie has grossed $761,000 on Sunday at the US box office. This is the highest one-day grossing ever for any Hindi-language film in the North America. My Name Is Khan grossed $336,000 on Monday, Presidents’ Day, bringing the estimated four-day opening weekend figure to $2,275,000. The film was initially expected to drop by 7% over Saturday to $682,000. But it performed better than expected on Sunday grossing $761,000 for a 4% increase. This makes the Karan Johar film the fastest Hindi film ever to break the $2 million mark beating the previous record of five days set in December by 3 Idiots, which grossed $2,149,227 in its five-day opening over the Christmas weekend. Even in UK, MNIK has made history. It has had the most successful opening weekend in UK for any Bollywood film. It grossed more than £936,000 in just four days and is now lying at number six on the UK Box Office. As per industry estimates, the film has grossed around $25 million worldwide. And looking at its performance, the distributors and trade analysts feel the movie may touch the mark of $30 million for its worldwide grossing. The film is currently running in approximately 1,570 theatres worldwide.

Pallavi Srivastava

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
“We will change your outlook” - The Sunday Indian on B-SCHOOL RANKING SCAMSTERS EXPOSED! A must read...
The Sunday Indian:-
B-SCHOOL RANKING SCAMSTERS EXPOSED!
For Exclusive Footage by Sunday Indian Click Here

Outlook Magazine's B School Ranking Scam Exposed
Business Standard Exposes the Outlook Magazine Money Editor
Don't trust the Indian Media!

IIPM enters into media education
IIPM makes record 10,000 placements in five years
TSI exposes b school ranking scamsters Mahesh Peri of Career 360 and Premchand Palety of C fore. - For Complete Sting Operation Video Click Here
Pioneer Exposes the fraud called Mahesh Sharma and Mahesh Peri of Career 360 and Barbel Schwertfeger of mba-channel.com
IIPM: An intriguing story of growth and envy
Prof Arindam Chaudhuri of IIPM on MF HUSAIN‎

Thursday, August 19, 2010

SEVEN BIG THOUGHTS FOR RURAL MARKETS

The way rural markets are growing, it won’t be long before they start contributing substantially to profits of companies. A proactive approach is the best available tool

Rural India now accounts for around 50% of the half trillion dollar strong Indian economy. Already, 54% of FMCGs, 59% of durables, 100% of agri-inputs and between 10-50% of 4-wheelers and 2-wheelers are sold in rural India. The situation is similar in insurance, banking, telecom and other services. The rural market is now bigger than the urban market for most categories. My big thoughts for the corporations who want to work the rural market are:

RURAL BOOM: By 2012, it is expected that every village will be connected by an all-weather road, will have Internet, and almost every home will have electricity and possess a mobile phone. With significant improvement in rural infrastructure coupled with agricultural reforms, we can expect rural markets to reach inflexion point. This will lead to an explosion in demand. The way it happened in the urban markets in the mid-90s as a result of easy consumer finance, a boom in the IT sector and steep increase in the corporate salaries. Companies are not anticipating this boom and many will be taken by surprise when it happens.

REVERSE INNOVATION: Ever since the BoP concept (Base/bottom of Pyramid) was introduced, many companies have tried to transform their business models through single serve sachets, low cost production, extended mom and pop distribution and NGO partnerships. But in the rush to capture the fortune at the BoP, something may have been lost- the perspective of the poor themselves. In my view, most such initiatives have failed to hit the mark. Pushing the company’s reformulated or repackaged products into villages may indeed produce incremental sales in the short term. But in the long term, this strategy will almost certainly fail because the business remains alien to the communities it intends to serve. For decades, MNCs have sold modified products, a process widely recognised as glocalization. This strategy worked reasonably well with the more affluent urban consumers whose behavior is somewhat similar to Western consumers. With growing rural purchasing power and the three times larger population than urban, companies will need to develop appropriate products for this market. Minor modification won’t work as rural consumers are very different. This calls for a reverse innovation process, totally opposite to the globalization approach. This will involve a bottom up , community embedded process of co-invention and co-creation. Such an approach will bring the company into close, personal business partnership with BoP communities. While creating enduring value for community it will establish a foundation for a long-term corporate growth innovation.

NEW PRICE PERFORMANCE PARADIGM: Rural market requires products with decent performance at very low-cost. My advice to companies is to aim 75% performance and 25% cost. Nirma or Ghadi washing powders are excellent lower-performance, low- cost products compared to the global Surf or Ariel brands. Rural consumers want to derive core benefits from the product and these low-priced brands clean clothes adequately. Users are not worried if these powders don’t have a softener or a whitener. The sachet as a solution to making the offering more affordable will not work in long term as the price continues to remain high.

Wednesday, August 18, 2010

PATRIOTISM AS PROP

Do the dozens of ads, religiously flooding the publications every Republic and Independence Day, make any sense or carry any weight? 4Ps B&M spoke to some evolved souls to seek answers

Cigar czar Chetan Seth offers a light touch. He compares this exercise to “event management” and believes that “it provides the government agencies and public sector undertaking furms a great, legitimate outlet to spend big bucks, paying homage to whatever is the flavour of the day! In the normal course, not being an FMCG or ad-driven product or service, the Sarkari guys have no need to advertise. These events provide rare and eagerly awaited opportunities and they freak out... In the process, a great time is had by all!”

Lloyd Mathias, the savvy CMO of Tata Teleservices Ltd has his own professional take. “It’s true that come these days, lots of brands seem to leap onto the nationalistic bandwagon, flashing empty patriotic slogans and the tri-colour to display solidarity with the spirit of the day. Most times, (like the hordes of PSU ads) it’s done without imagination, creativity or focus.” However, Mathias believes, if a brand anchors it and establishes a relevant and powerful connect with patriotism – like the fabulous Pepsi Freedom ads in 1997 commemorating India’s 50th year of Independence – then it could result in powerful and memorable communication. Otherwise, mostly, it’s lazy marketing and a sheer waste of money.

Veteran Nargis Wadia (founder and Chairperson of Interpub, whose gorgeous presence rocked the sixties and seventies!) believes, “Context is the key. The Gandhi-fronted Montblanc ads are silly and amateurish attempts at leveraging patriotism in advertising. The challenge is to identify and establish, in a creative and memorable manner, products, causes or concerns with a suitable brand-fit”. The last words appropriately must come from a bright mass communication student, Anupama Sharma. Bringing all her youthful optimism into play, she opines, “These ads may not be great examples of creative excellence, but who cares? Life is about passion and emotion and these occasions allow us to express them with patriotism full-on! Do birthdays, anniversaries and special days happen every day? Don’t we celebrate them with feeling? We are an expressive, over-the-top people. Why should our flavour of patriotism differ? We are like that only, yaar!”

Monojit Lahiri

Tuesday, August 17, 2010

HAVE YOU EVER THOUGHT OF THE CONSUMER?

Marketers need to radically change the old rules of Integrated Marketing if they want to stay connected with consumers whose preferences are changing at a fast pace

Change may be the only constant thing in this world, but change is most hated by everyone. Look at every new idea, and the people refused to accept the innovation. Video didn’t kill radio, calculator didn’t make a whole generation dumb, computers didn’t make us lazy and remotes didn’t turn viewers into constantly surfing junkies.

They actually did exactly the opposite. Video made radio smarter. Calculators opened up new possibilities. Computers made a whole generation smarter. Remotes forced TV programmes to become more entertaining and less preachy. And we may as well see this happening with the entire theory of Integrated Marketing and Communications.

The whole practice of Integrated Marketing is based on the belief that consumers are fragmented and no single medium can reach them with optimum efficiency. Hence, we need to surround them with as many mediums and make them see our brand in the right light. In the morning when they wake up, they must see us on newspapers, through the day they must see us from billboards and radio. In the evening, we must blast them with constant ads on TV. These days consumers also watch TV in morning, and hear news on TV throughout the day, so our message must be there too. Rise of mobile and Internet means new mediums should be added to the mix. Surround the consumer with as much noise as we can, make sure that the brand is always around them. And we do it very simply by taking it across every medium. So, one visual, one colour or one music note and the brand can communicate with its audience consistently, constantly. We can also measure not only the intensity of our message, but also the effectiveness of our message.

There is a big issue with this approach though. This approach believes that consumers are individual islands and the brands can control the interaction. Almost like what Simon and Garfunkel said in their super hit song “words of prophet are written on the subway wall, and people bowed to their Neon God.”

Consumers are no longer fragmented. They have become collective, become one and are finding their voice. And not through the old world of unions & forums, but through the new age world of online forums, blogs, communities, Facebooks etc.