my summer internship’15, an awesome journey
TRANSCRIPT
Following slides are a mashup of:
HBR Article
Marketing In Indian Context
Theoretical Concept
Of Marketing
Make A Good
Presentation
The Harvard Business Review is intended to be the highest type of business journal that
can be used by the student and the business man.
Rethinking And Reinventing Marketing
These start with understanding and using a new metric, which we call brand dispersion,that measures polarization.
Managers also need to realize that having a group of consumers who hate your brand can be a good thing.
Some companies have boosted sales by increasing the number of product haters.
The higher the percentages of brand lovers and brand haters, the greater the polarization.
For instance, McDonald’s is a highly polarizing brand.
Intel has low polarization.
If your analysis reveals that your brand exhibits a high degree of polarization, here are three strategies to consider:
Placate the haters. Try to change the haters’ minds. This is the strategy that usually feels the most straightforward and comfortable. It reduce negative word of mouth and create a larger pool of potential buyers.
Poke the haters. Some companies succeed by intentionally antagonizing brand detractors. This create buzz and reinforce the brand’s connection with its most enthusiastic consumers, because people often feel compelled to defend a favourite product.
Amplify a polarizing attribute. Instead of seeking to narrow the gap and reduce the haters’ rancor, some companies decide to create new products that amplify the point of differentiation, in the hope of strengthening loyalty among diehard fans.
Creating Polarization
Drive a wedge in the market. Marketers often target a specific consumer segment. In some
cases, such segmentation increases polarization, which in turn can boost revenue.
Launch a provocative ad. marketers may try to increase a brand’s visibility by running ads all but designed to turn off a certain share of viewers.
Brand managers, are gaining
access to new kinds of data.
Managers should avoid relying on averages; they
need to dig deeper to
uncover and understand the
full range of attitudes toward their products.
INDIA BASICS
Large population
Agriculture are the major source of income for majority of the rural population.
Large, diverse and scattered market
Majority of rural people have low purchasing power and per capita income.
Rural India has a literacy level of 36% as compared to 62% in the urban areas.
Villages have a traditional outlook. They accept changes gradually.
Conservative lifestyle
The India
n market has been
adding
more
than one million
new consume
rs ever
y year.
Rising
rural prosperit
y
Infrastructure
is improvin
g rapidly increasing
income and purchasing
power
New employ
ment
opportunitie
s
Governmen
t schemes have created new employment opportunities in
rural India
.
POTENTIAL
Problems
related to
distribution and channel
manageme
nt
Traditional outlook
Many language and
Dialects
Understanding the rural consumer
Cultural
Factors
Vast and
scattered
market
CHALLENGES
Accurate
level of
productions
. More target
ed communications. More releva
nt purchasing.
Today societ
al forces have
created new marketing behaviours, opportunities, & challenges.
Easier for
consumers
to buy
from.
Create
greater
competition and opportuniti
es.
Consumer can
compare
prices,
features .
Consumer can
collect
informatio
n about practically
anything.
How Has Marketing Management In India Changed In Recent Years?
Objectives In Indian Market
To decide market strategy behind product development.
To understand target market.
To understand potential customers.
Understanding different aspects of marketing in an Indian Context with focus on ethical aspect.
To know the effect of growing consumer impatience on products in an Indian context.
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Thereafter they can take five major decisions:
Objectives of advertising
Deciding on the advertising budget
Message
Media
Evaluating advertising effectiveness
In developing an advertising program in India, marketing managers must always start by identifying the target market and buyer motives.
Advertising In An Indian Context
In the Indian context humour has been applied in four ways:
Introducing humour in family relationships.
At an individual level.
Associate fun with group associations.
Use of celebrities.
Humour is often used in ads in the Indian context. While using humour it is important that it does not distract consumers from brand’s proposition.
In India, company tries to reach in every level
of their potential customers by creating creative ads aimed for a particular segment.
Ad also aims to educate customer about the product.
'No Ullu Banaoing' had a sense of humour added to which was a serious message of the usefulness of Internet.
The current campaign, ‘IIN’ on the other hand, provides an alternative to formal education and brings out the process of gaining knowledge.
Amul was founded in the year 1946 at Anand in the state of Gujarat, India.
Its founder Verghese Kurien, was known as the "Father of the White Revolution", for his 'billion-litre idea' – the world's largest agricultural development programme.
Market Segmentation
Amul’s Market segmentation aims to increase its precision marketing.
It have created the largest potential market, with lower costs, which in turn lead to lower prices and
higher margins.
The product are bombarded with messages pitched through a growing number of channels:
television, radio, the Internet, and niche magazines and other print media.
Target Marketing
Target marketing of Amul has lead it to some marketing programs that are
tailored to the needs and wants of local customer groups.
Amul recognised its potential customers of various demography and designed product for the concerned individual.
Socially responsible marketing calls for targeting and positioning helped not only Amul’s interests but also the interests of
those targeted.
Brand positioning
Amul focused on India's middle class society. This segment of consumers is urban and knowledgeable.
They need a great taste but they are equally health and quality conscious.
Distribution Strategy
Amul products are available in over 500,000 retail outlets across India through its network of over 3,500 distributors.
There are 47 depots with dry and cold warehouses to buffer inventory of the entire range of products.
Price Analysis
At the time Amul was formed, consumers had limited purchasing power, and modest consumption levels of milk and other dairy products.
Amul adopted a low-cost price strategy to make its products affordable and attractive to consumers by guaranteeing them value for money.
Role Of Advertisement
A thumb-sized girl on all the hoardings of Amul’s have not only revolutionised the brand but also put a spell on the masses.
Customer Analysis
Amul narrowed the gap between the producer and the consumer, connecting the dairy farmer to the consumer through its organic network.
Amul have not changed their core values—give the best quality product to the consumer, and the best possible price.
Indian Context
Indian masses are more emotional, believe in brand
values.
They tend to align with companies having a
permanent core value.
Indian need a great taste but they are equally health
and quality conscious.
Still, why many new product fails?
A high-level
executive pushes a favorite
idea through in spite
of negative market
research findings.
The idea is good, but the market size is
overestimate.
The product
is not well
designed.
The product
is incorrectl
y positioned in the market,
not advertise
d effectivel
y, or overprice
d.
Development
costs are higher than
expected.
Competitors fight
back harder than
expected.
A Company aims for their product to:
Be noticed
Be understood
Stimulate action (such as an enquiry or visit to the store)
Achieve a sale
Company’s major goals are:
Raise customer awareness.
Explain a product’s features and benefits.
Create associations between a product and a certain lifestyle.