From a very small fish to becoming the big one and becoming the biggest among all, this is how few brands have changed with time.
The financial success of some brands have been depending on combined efforts of their financial strategies and there marketing efforts. One thing that is been common among all these brands is the high degree of Brand Loyalty. They have managed to capture the share of heart and in turn share of customer's wallet.
But what makes marketing so big ? Why is it important ? If you have a great product you are bound to succeed then why do you need to spend on marketing ? A successful marketing team can carefully analyse customer needs and carefully monitor their competitors marketing moves. This is where marketing communication plays a big role. To imbibe in the students a greater understanding of marketing communication and its impact on the customers and on business, JRE School of management organised a Marketing Panel discussion on 24th March, 2012 at its campus in Greater Noida.
The panel discussion aimed at bringing the practitioners from the fields of advertising, BTL, digital and public relations together to delve upon to discover the blue prints of innovation in the times to come in each and every sphere of marketing communication.
Mr. Kishore Chakraborty, Vice president- Consumer Insights and HFD , President McCann Erikson India, Mr. Saurabh Uttam, senior consulting associate- Digital Genesis, Burson-Marstelle South Asia, along with Mr. Ashish Verma, Senior Manager- Direct Active at Wizcraft International Entertainment Pvt.Ltd. and Mr. Barid Baran, Head of media North, East and North-East- Brandcomm made their presence to the event as panel members.
There were also many eminent personalities like Mr. Harpreet Singh, President JRE, group of institutions and Prof. Pankaj Gupta, Director JRE School of Management. The event mentor Dr. Vaishali Agarwal PGP chairperson and associate professor marketing at JRE SOM gave direction to the panel discussion by formally introducing the topic.
Mr. Harpreet Singh paved the way for the discussion by highlighting the importance of identifying the real target customer group and analysing his real needs. He also spoke about various marketing strategies like that of product vs consumer, price vs cost structure, placing vs convenience and promotion vs communication, and gave supportive examples of companies like Johnson & Johnson, Ikea, Louis Vitton etc.
Mr. Kishore Chakraborty, as eloquent a speaker he is, stunned the audience with his witty remarks. He spoke of the consumer getting more greedy, impatient and wiser over the years and hence stressed the need of thinking out of the box to satiate them. He also spoke of the various ways of connecting with the customers and how to be ready to face the consumer who is outdoor almost all the time. He spoke of how the media is evolving over the time and yet not getting outdated, unlike technology. He also gave some insights into viral marketing and aspects related to it.
Mr. Barid Baran spoke about the need to understand journalism and the power of media over a brand. He spoke about the media management strategies, and gave real life examples like that of Lalit Modi. He also spoke of the power of media as a vital tool in adding credibility to a brand. He also mentioned the impact of PR on brand management and brought up examples of the coke/pepsi pesticide case and the instance when Cadbury was accused of having insects inside the product.
Mr. Ashish Varma, an expert on BTL events and promotion, spoke about the last five feet of marketing and talked about the presentation of the product, channel trade partners, customer touch points, loyalty programs, lifestyle and digital media to catch insights of a consumer in real sense. He further added that retaining and engaging existing customers is equally important as attaining new customers.
Mr. Saurabh Uttam, a social media evangelist had much to share about the emerging trends in digital media, and the impact it has on building a brand. He also spoke about Apple as a company that was nearer to the consumer, having made use of the digital medium to do so, and which eventually made Apple what it is today. He also gave examples of companies building up a robust and unique platform, by absorbing the digitalism within them as a core concept, and spoke of Amazon etc.
The discussion left the audience mesmerised. Ms.Divya Uttam, Account Director and Digital Strategist at BBDO Proximity India, who was also a part of the discussion, was quite amazed by the kind of interaction that took place, putting it across in her words, 'Kudos to JRE for organizing such a discussion for its students.'
Notes to Editor
About JRE Group of Institutions
With a vision to facilitate quality management and technical education, JRE Group of Institutions has been formed according to the highest international standards with state-of-the-art infrastructure. The Institute provides a truly global experience through academic partnership with Educomp Solutions Ltd., India the largest Education company with a Market cap of aprox 2600 cr and Raffles Education Corporation Ltd. ("Raffles Education Corp."), Singapore, both world class education service providers. JRE believes in broadening the outlook of the students through the delivery of AICTE approved postgraduate and undergraduate programs in Management and Engineering.
The Institute offers programs that are designed to empower the participants through quality education focusing on innovation, entrepreneurship and benchmarked management techniques. The Institute aims to create an environment in which students undergo a process of experiential learning through exposure to a range of real world practical problems and through utilizing opportunities to apply learned skills in diverse business situations.
The programs develop students' practical skills through a range of activities including industry specific training, live projects, case studies and exposure to practicing professionals.
The Institute has invested in the latest technology to ensure that the technological capabilities meet the cutting edge requirements of the industry to promote learning and to facilitate student placements. The combination of academic programs ensures that JRE graduates are attractive to recruiters' in today's competitive global market.
The school has also earned prestigious awards for itself such as Dewang Mehta Business School Award for "Best Pedagogy in Management Studies"; "Asia's most Promising B School" award by Asia's best B-School award, CMO, Singapore and the latest one by Indys B-School Awards for "Best Placement Brochure".