Dear Readers, We proudly present before you the November 2019 Edition of our illustrious magazine, The Marksman. For this edition we have put together a corpus of marketing that every reader will thoroughly enjoy and learn from. Our cover story this month is, “LinkedIn: Marketing”. A new era of marketing strategy is emerging in the field of social media marketing and it is vital to know all about it to take full advantage of it. LinkedIn helps in building connections that surpass geographies, cultures and fulfill business needs. Hearty congratulations to the winner of this month’s Call for Articles, Mehak (IIM Shillong), whose articles has been featured in this issue. We are overwhelmed by the response that we have received from all of you and encourage you to write to us with the same enthusiasm. We would also like to hear back from our esteemed readers on how you found our October edition. We value your feedback as it helps us to constantly improve and write better ! Enjoy Reading! Stay with us on https://theinterfacesimsr.com/magazine/ Follow our Facebook page for more updates.
Marketing Faux Pas
More Than Marketing
Itâ€™s All About Ad-itude
KICKSTART -MOHIT NAGDEV
DUNZO Dunzo is an Indian startup launched in 2014 by Kabeer Biswas operating in 8 cities and headquartered in Bengaluru which is funded by Google. It is an application which provides 24/7 delivery of all kind of products at your doorstep within an hour as well as a bike-taxi service in only Gurugram.
Dunzo helps people in completing all types of work they have on their checklist, be it buying medicines and cigarettes to even picking-up of their laundry. This creates a lot of value for customers by saving their precious time. Dunzo first started on the platform of Whatsapp covering a very small group of people. The company got its first funding on the basis of impressive word-of-mouth reviews signifying the customer adaption of the application. In fact, Dunzo didnâ€™t spend any money on marketing its application for a very long time, as its app was getting popular purely based on the word-ofmouth reviews.
Dunzo helps people in completing all types of work they have on their checklist , be it buying medicines and cigarettes to even picking-up of their laundry .
They just don’t want one time users; they want repeat business from these users
They spent all their funds on improving the application performance by analyzing consumer behavior. They have a social media presence on Instagram, twitter and LinkedIn and participate in affiliate marketing. They just don’t want one time users; they want repeat business from these users. For this reason, they need to charge lower prices for their services as well as reduce time taken to perform the tasks of users. They have tie-ups with all types of local merchants . The variety of tasks it can carry out is very wide and people have started using it like a verb to carry out all these actions – Just Dunzo It!
TWEETS TWEETS - SHAHRUKH SHAIK BRANDS ON JOKER PHENOMENON â€œJoker, The Clown Prince of Crime", made a huge impact in 2019. It is a much discussed anti-hero film centered towards the main villain of batman franchise. Joker is the first R-rated movie topping one billion dollars at boxoffice but it has also received huge criticism around the world as some believed that the movie had potential to inspire real world violence. Love it or hate it, the movie does spin up a tempting imagination of persecution and respite, of embracing anarchy as a means of complete escape from a terrible world and the world loved it. Starting with the background music to acting, casting and everything about the movie was well loved. The majority of critical reviews have been positive, fans believe the film deserves an Oscar for sure. And people didnâ€™t held back to tell their opinion on Twitter. This excited brands also to cash in on the popularity.
Embracing culture by staying current, demonstrating knowledge of consumers and giving back the study found is exactly how brands can become more relevant.
A Brand’s Culture involvement makes up a full 25% of a consumer’s purchase decision as per the MAGNA & Twitter : “The Impact of Culture,” US,2019.
TWEETS All kinds of entertainment affects the world in one way or another, but movies do it better than anything else. When a huge movie hits the silver screen, millions, if not billions, of people watch it. Whether they love the movie or not, they all are exposed and involved in some sort of discussion with others. Themes portrayed in the movie resonate with them, plots remembered, and memories created. Entire industries are impacted due to the popularity of movies and their influence on people. For example, Guardians of the Galaxy had a huge impact on the sale of older music, especially in the form of the movie’s soundtrack. The official soundtrack went to the top of Billboard’s Top 200 and was a massive boost to the sale of older music. Brands made sure of not missing on the opportunity and joined the Joker Phenomenon and the world is totally loving the way they are doing it.
FAUXFAUX PASPAS -HARDIK TRIVEDI
Heineken â€“ Lighter isnâ€™t better after all? Commercial advertisement is one of the most reached out method of connecting with the audience. TVC, hoardings, posters, and billboards are seen more by the crowd then other mediums of marketing. Commercials can drive a large mass of mob, it can motivate individuals in changing for their betterment, and it can at times even be delusional in manipulating the crowd in order to garner larger sales.
The companies using the medium of commercial advertisement should be clear about their goal, their target audience and their methods. But these commercials are public and not confined to a particular set of audience. Keeping this in mind, the commercials created should be made in a manner that it doesnâ€™t hurt the sentiments and emotional values of an individual or a society or a religion.
Commercials advertising in one of the larger source of generating revenues. Commercials have a lot of power if used in the correct way. It can drive individuals, a mob or a society in making their decisions.
In 2018, Heineken came up with a commercial with the
“We missed the mark, are taking feedback to heart and will use this to influence future campaigns”, Heineken U.S. said
tagline – ‘Lighter is Better’, with advertising their lighter beer variant claiming that it is better than their competitors. But this campaign fall back on face hard. The campaign title, Lighter is better, got taken with an altogether different perspective by the audience. In the advertisement, a bartender spots a female customer sitting at the bar gazing disappointedly at a glass of wine. With much style, the bartender quickly opens a beer bottle and slides it towards her. This part is understood, quite common in such commercials. What comes next lit the flame of disgust in the audience. While passing the beer, it crosses two black women and one black man before reaching the wine glass. As it comes to the glass, the title Lighter is Better
This triggered a rage
flashes on the screen. And controversially enough, the
amongst the black
woman sitting near the wine glass has a lighter skin.
people, calling out Heineken to be a racist brand. People showed their dislike over the social media. Celebrities like Chance the Rapper also joined in rage against the ad. Ultimately this denouncement put a hammer on their sales and Heineken had to bring down this series of commercials from the market, putting up a classic example for others.
COVER STORY LinkedIn Marketing
The question starts with why aren’t we talking about LinkedIn? A platform for a new era of marketing strategy is emerging or maybe has already emerged in the field of social media marketing. The platform was launched as an alternative to job listing databases in 2003 and was consistently developed as the social web’s technical market. Like other networks, in its early years, LinkedIn was a place to keep up with the people and organisations to which you had connected to, but with the success of the social feeds of Twitter and Facebook as a backdrop in 2010, the service created its own space to share news and updates on life. By 2016 when it was purchased by Microsoft, it acquired its dual identity as a tool of job seeking forum as well as hiring platforms and getting business leads.
By 2016, LinkedI n had affirmed its dual identity wh en it was purchas ed by Microsoft: It acquired its dual identity as a tool of job seeking forum as well as hiring platforms and getting business leads.
This deal also announced to the world, the biggest social media network owned by Microsoft. The Company today has a presence in more than 200 countries with 630 Million registered users all over the world. Today LinkedIn has more than 20 million job listings raised from 300,000 before five years and the number still keeps increasing which is visible from the media’s humongous growth rate
The first thing users see after opening LinkedIn is a Facebook style news feed, complete with like, comment and share options. But there is more to it than that when explored. The platform not only boasts huge amounts of users, but the users are influential, high-level executives that most businesses are targeting in their B2B marketing campaigns. LinkedIn, therefore, is a prominent social platform to reach these top decision-makers to promote a product or service. The point of differentiation that makes LinkedIn marketing a unique model of marketing is the way it works unlike other social media. LinkedIn can help the advertisements that are run to be target specific. What does it mean? Advertisers can now drill down more specifically to target ads to specific characteristics like top industries, years of experience or company sizes for your audience.
The users are influential, highlevel executives that most businesses are targeting in their B2B marketing This means that every penny spent on advertisement reaches the desired audience that one wants it to reach and these filters make sure they reach pitch perfect. Though the marketing cost of LinkedIn is much costlier than other platforms like Facebook, the return on investment in terms of result is much superior.
COVER STORY This increased lead generation is also thanks to the understanding between the users. Users accept its professional use thus making it easy for LinkedIn marketing. Using LinkedIn for business development is a powerful ally in the fight for business development. It helps in relationships that are not limited by geography, become known as a visible expert or thought leader, and increase web traffic and conversions.
LinkedIn also acts as the primary social network for professional services firms â€“ itâ€™s where your future clients are sharing relevant information and discussing industry trends. By participating in the conversation, sharing relevant content, and connecting directly with those who match your client profile, you can reach Price your target audience.
LinkedIn also paves a path for smaller firms to dive into action, and this can be done organically without investment in in-web purchases. After connections are made, e-mail IDs of the required client can be retrieved and tailor made personal e-mails can be sent to make connection starting from a simple hiring to organising a meet. As LinkedIn connections directly provide their professional contact details, the success probability is usually high and the diversion of deal is also much lesser. It makes sure that the right person is contacted instead of an alternate POC of a particular deal. These professional e-mail IDs range from employee to executives, and some of these contacts would have been almost impossible to trace without the existence of LinkedIn IDs as they are usually confidential.
It helps in relationships that are not limited by geography, become known as a visible expert
Whether it's your intention or not, you own a personal brand once you've got a name and a digital footprint. To stand out from the crowd and highlight your areas of expertise in your n iche is your one-stop shop. This also applies to a digital forum like LinkedIn where a Hubspot analysis says that LinkedIn is 277% more effective than Facebook in terms of lead generation and also 80% of the leads come from LinkedIn for a B2B business followed up by twitter with 13% lead. This â€˜Building your brandâ€™ needs three mantras to be followed according to LinkedIn. First step is to boost your profile using all the available updates on LinkedIn. Second step is to make as much relevant connections as possible. Final step is to increase traffic and visibility.This comes with an active LinkedIn account.
There are more than 15 million entrepreneurs on LinkedIn in the United States and the United Kingdom. Entrepreneurs are quite engaged on LinkedIn and use the platform as a community to network
There are more than 15 million entrepreneurs on LinkedIn in the United States and the United Kingdom. Entrepreneurs are quite engaged on LinkedIn and use the platform as a community to network with, to learn from other entrepreneurs, to follow successful entrepreneurs who are influencers, and to read about how to be more successful professionally. On an average, entrepreneurs are far more likely than the average LinkedIn member to engage heavily with the platform. Compared with other LinkedIn members, entrepreneurs: These entrepreneurs usually follow other successful entrepreneurs and business leaders to gain insights
LinkedIn marketing alone wouldnâ€™t suffice for a company to grow when seen from a business as well as marketers point of view as a company also needs to build a standard website and also needs to enhance its other social media platforms such as Instagram, YouTube and other media tools as in the end it is ultimately reaching the end consumer base; let it be B2B or B2C. LinkedIn can be enhanced with strong support blogs and Online Reputation Management where the company can use multiple forums to promote their goodwill which will be reflected back as fruitful results.
LinkedIn can be enhanced with strong support blogs and Online reputation Management where the company can use multiple forums to promote their good will which will be reflected back as Fruitful results.
LinkedIn is a perfect example of how digitalization and advances in social media marketing can inculcate new ways of marketing and in fact marketing itself is always evolving and LinkedIn marketing is just an addition to the never ending changes that marketing undergoes.
PIONEER -ABDUL MANNAN
BINNY BANSAL In 2016, Sachin Bansal and Binny were chosen for 'Asian of the year' under the group 'The Disruptors' by Straits Times of Singapore.
Binny Bansal is an Indian billionaire, Internet entrepreneur born in 1981. In 2007 he co-founded the e-commerce platform Flipkart with Sachin Bansal (no relation) and served as the chief operating officer until 11 January 2016 and was then promoted to chief executive officer (CEO). He was promoted to Group CEO in January 2017 and resigned in November 2018 due to personal misconduct allegations. From being an average student, Binny went on to join IIT Delhi’s Computer Science graduate course, a place where he found both his cofounder, Sachin Bansal, and his soulmate, Trisha. Interestingly, Snapdeal cofounder Rohit Bansal was also his batch mate and they were best buddies in the first year.
Flipkart was launched as an online bookstore in 2007. The startup’s mantra was to provide simple and seamless ecommerce services. One of their USPs — which worked majorly in their favour — was to deliver on or before time. Sachin and Binny had started Flipkart together from a house in Koramangala in Bengaluru in 2007 with Rs 4,00,000 of their own money.
According to Forbes, Binny had a net worth of $1.2 billion in 2016. In the early days, Binny Bansal and Sachin Bansal were their own logistics team, riding around Bengaluru on bikes every alternate day, delivering orders. Within a few months, the orders were up from 8-10 a day to 30-40. The cofounders also had the task of sourcing the books, and they spent hours on end scourging through book warehouses when they couldnâ€™t get a book on their list. After a year or so, when they could finally pay salaries, they finally hired one or two runners to do these time-consuming tasks. While the story of the Flipkart cofounders and their journey of building Indiaâ€™s mostvalued ecommerce unicorn has been told and retold often, every time either of the Bansals speaks about it, they reveal some new experiences, some untold stories.
BRAND MARKIVE -Harneet Singh Ghatehora
ITC Fabelle Exquisite Chocolates ITC Group launched the world's most expensive chocolate which is priced at Rs 4,30,000 per kilogram under its Fabelle brand. ITC's luxury chocolate brand Fabelle Exquisite Chocolates introduced its limited edition range chocolate ‘Trinity - Truffles Extraordinaire’ which entered into Guinness World Records to become the world’s most expensive chocolate. Co-curated by France's Michelin Star Chef Philippe Conticini and Fabelle's Master Chocolatier. The limited edition offering is cased in a hand-made wooden box, containing 15 truffles, each weighing 15 grams. The made-toorder box will be available at a price of Rs 1,00,000 inclusive of taxes. “We at Fabelle are extremely happy for setting new benchmarks not just in the Indian luxury chocolate market but also now in the world with achieving the Guinness World Records feat,” ITC Chief Operating Officer — Chocolates, Confectionary, Coffee and New Categories — Food Division Anuj Rustagi said. ‘Trinity Truffles Extraordinaire’ which entered into Guinness World Records to become the world’s most expensive chocolate The box contains three truffles, named Creator, Nurturer and Destroyer. ITC marketing strategy to market these products came with the idea from the coconut which symbolises the beginning in Creator, the rare Jamaican Blue Mountain Coffee in Nurturer or the Grand Cru dark chocolate in Destroyer, each product gets altogether a different experience to the Indian customers with the rare ingredients used in it. 14 MARKSMAN
BRAND MARKIVE ITC decided to innovate and developed fourth type of chocolate next to dark, milk and white chocolate, and named it as ruby chocolate. That is a breakthrough innovation developed by Barry Callebaut and is a result of years of R&D efforts.
These chocolates are made to target the high segment market and are available only in the ITC hotels. India Chocolate Market Forecast & Opportunities, 2020, chocolate market in India is projected to surpass US$ 17 billion by 2020. In 2014, Consumer chocolates segment dominated the Indian chocolate market, and this trend is expected to continue over the course of next five years. Product innovations, strong marketing strategies and increase in variety of products are driving consumer chocolate sales in India. Over the last years, apart from children, adult population has also emerged as the key consumer segment for chocolate companies in the country.
These chocolates are made to target the high segment market and are available only in the ITC hotels
Consequently, not only ITC, other companies like Nestle, HUL and other manufactures have been launching new and innovative chocolate products such as sugar-free and organic chocolates to lure adult consumers. In terms of regional sales, Northern India accounted for the largest share in 2014, followed by the Southern, Western and Eastern regions of the country. 15 MARKSMAN
SPECIAL STORY Singles Day- 11/11 The retail ecommerce giant with a net worth amounting to $486 billion is focusing on ‘new consumption,’ ‘new business’ and green action this year. More than 200,000 brands from 78 countries are participating in the festival, with one million new products on offer.
- Vyom Bhatnagar
On 11th November where everyone is celebrating and posting about “Singles Day”, Alibaba is making big organizations run for their money and the reason is simple 38.4 billion US dollars in 24 hours. Yes, you read it right that is the entire E-commerce industry of India. The retail e-commerce giant with a net worth amounting to $486 billion is focusing on ‘new consumption,’ ‘new business’ and green action this year. More than 200,000 brands from 78 countries are participating in the festival, with one million new products on offer. There is also an increasing emphasis on the integration of online and offline shopping experiences through digitization. It was the 11th edition of the annual Singles Day event — also called the Double 11 shopping festival because it falls on Nov. 11. During the 24-hour period, which began at midnight in Singapore and Hong Kong, Alibaba offered huge discounts across its e-commerce sites such as Tmall.
SPECIAL STORY More than half a billion people from a number of countries participate in the event, which is China’s equivalent to Black Friday and Cyber Monday. Except… Singles’ Day is much larger. The five-day Black Friday clocked less than $25 billion in sales last year. Cyber Monday clocked less than $8 billion. Alibaba Group said earlier today that it had netted its first $1 billion in sales in just 68 seconds and first $10 billion in half an hour. To bridge people in China and those living elsewhere, Alibaba also maintains a number of dedicated websites. AliExpress sells goods from Chinese brands to international residents; Tmall sells goods from global brands to China; and Taobao sells Chinese brands’ goods to people in China. Lazada, a subsidiary of Alibaba Group that caters to Southeast Asian markets, saw the number of buyers and merchants double this year. “This year, both buyers and merchants have more than doubled and we’ve already seen a series of record-breaking moments. We’re looking forward to sharing even more good news,” said Yin Jing, co-president of Lazada.
This model has also been replicated by Amazon and Walmart owned Flipkart in India, Qoo10 in Singapore and 11th Street in South Korea. Today’s milestone should help Alibaba win some more confidence from shareholders when it begins selling shares worth $15 billion in Hong Kong later this month.
Alibaba Group said earlier today that it had netted its first $1 billion in sales in just 68 seconds and first $10 billion in half an hour.
MORE THAN MARKETING -Faiqa Shaikh
Saving Life at the Mela A small reminder to a million people can change at the course of at least a 1000 lives. Lifebuoys Mission of making people wash hands is more than just marketing.
Kumbh Mela is one of the oldest and biggest gatherings in the Hindu religion. With devotees from all over the globe travelling miles just to witness the spectacle. In 2019 alone 150 million pilgrims flocked to take a bath in the Holy Water of Ganga. With such a massive gathering it’s an open and highly competitive market for sellers who come from all over to sell their wares, just like the olden times. One Brand that has established itself in this Might Mela is Hindustan Unilevers “Lifebuoy”.
Lifebuoy is known world over as the number 1 germ protector. Their soaps are economical and affordable to all. It was no surprise when Lifebuoy began the initiative of spreading word about the benefits of washing ones hands before meals and how it is directly related to our health. They began working with the organizers of Kumbh Mela to reach their word to the millions of people participating in the festival. Their campaigns such as ‘Help a child reach 5’ had already garnered them a clarity with their audience. They very innovative Kumbh Mela campaign was started off with the intention that when masses of people gather in a place for a long duration of time there will be risks involved with sanitation and health. Infections could occur easily and spread far and wide and to prevent these Lifebuoy spread the message of washing hands via the “Roti” itself. Imprinted on each roti served at Kumbh Mela were the words “Lifebuoy se haath dhoya kya “
MORE THAN MARKETING Which translates to did you wash your hands with Lifebuoy? This simple message which reached a million of people made them get up and go to the nearest hand wash stall set up buy Lifebuoy. Over the years since 2013 this initiative has helped reduce the number of diseases and infections that occur in the Kumbh Mela drastically. One tiny reminder can enforce a habitual change.
Due to their continuous efforts over the years to promote hygiene lifebuoy has been acknowledged as the ‘Swasthya Sehbhagi’ in Kumbh Mela 2019. Starting this year Lifebuoy has taken their initiative one step further with the ‘Lifebuoys Stamp of hygiene’ which is used to promote the benefits of washing hands after using the toilet. People are becoming more aware because of these initiatives. When companies think beyond themselves for the greater good, not only are they helping humanity move forward but are also building a more healthier future for themselves.
From ‘Help a child reach 5’ to ‘Have you washed your hands’ lifebuoy has thought about the public at large and not only corporate goals
HALL-MARK CAMPAIGN -ARNAV MOHAPATRA
CANON - #DOGREATWITHCANON In recent times, the shutterbug community has evolved and the photography is the latest fad in the town. Around the world, people are capturing beautiful photographs. So, with a focus on up and coming photographers and the skill in itself, Canon has come up with a brilliant campaign by the name of “Do Great With Canon” to promote their premium range of EOS cameras.
With this oncoming festive season Canon has come up with this campaign to inspire more people to follow their passion of photography.
Advent of Social media and Smart phones has really played a major role in the onset of the potential photographer in people. With this overpowering ecosystem being the catalyst in bringing this hype in the Indian market, people are exploiting this opportunity to bring out a better version of the photographer inside them. Canon hence has created this campaign so as to make people aware of its high quality and premium range of EOS DSLR”s.
Equipped with a large sensor and state-of-the art DIGIC sensors and optics, Canon DSLR’s tried to target and empower their new and existing customers to enjoy the art of photography. This campaign was designed by Dentsu One, a creative communication solutions firm. Dentsu one tried to inculcate all the aesthetics of Mother Nature and general surroundings.
This video begins with a young man searching for inspiring beauty in his surroundings and transforming them into breathtaking photos with a Canon DSLR. His Canon DSLR captures people and daily life scenario. He believes that whether it’s the office, the sidewalk, or people on the streets, everything and everyone has a story to tell, even if it’s only through a photograph. Canon’s new website plays a big role in this campaign as it helps in hosting the video and also provides a platform for aspiring photographers to groom and express themselves through a collage of thought-provoking images. Through this campaign Canon is rooting for people with an open mind and the willingness to feel their surroundings, so as to bring out a perfect version of themselves in this festive season.
Canon’s intuitive and user-friendly DSLR’s will complement all the budding photographers in their search to find and capture the perfect picture.
IT’S ALL ABOUT AD-ITUDE - Piyush Mukherjee GILLETTE: Is it the best a man can get? Advertising is in the business of reading cultural trends, that's what they do,” says Lisa Jacobson, professor of history at the University of California Santa Barbara.
Earlier this year, Gillette released a new ad that took the company’s slogan, “The Best a Man Can Get,” and turned it into an introspective reflection on toxic masculinity – quite the topic of this cultural moment. Titled “We Believe,” the advert featured a diverse cast of little boys getting bullied, teens watching media representatives of guys objectifying women, and of men looking into the mirror while news reports of #MeToo incidents and toxic masculinity play in the background.
A voice in the background asked “Is this the best a man can get?” The answer was no, the advert went on to show how men can do better by actively pointing out toxic behaviour, intervening when other men catcall or sexually harass, and helping protect their children from bullies.
IT’S ALL ABOUT AD-ITUDE
Men opined that the ad seemed anti-male, and that it lumped all men together as sexists, and that it denigrated traditional masculine qualities. Gillette’s ad played on the notion that men want to be better, but don’t exactly know how. When Gillette was researching market trends last year, in the wake of #MeToo and a global conversation about the behaviour of some of the world’s most powerful men, the company asked what made a great man, according to Pankaj Bhalla, North American brand director for Gillette. “And literally we asked ourselves the same question as a brand. How can we be a better version of ourselves?” Bhalla added.The answer was this ad campaign. Since the #MeToo era ramped up in 2017, the question has been: Will this change anything? Advertising can be a litmus test for where a culture is—an imperfect one at times, but a useful one.
“Advertising reflects society,” said Henry Assael, professor of marketing at NYU Stern School of Business. Though some people made hay on Twitter about never using Gillette again, Assael said that buying habits, especially with something as habitual as a razor, are hard to break. He estimated that most people don’t really follow through with their threats to abandon a brand over controversies like this. Bhalla and his team knew the ad would not please everyone and would be risky. It could backfire and appear craven. However, thousands of people were talking about it online, and the campaign received prominent coverage in the media. Even if Gillette did lose a few MRA activists, it probably gained more new customers than it lost.
BOOKWORM - Amit Gupta
India Unbound By- Gurucharan Das History is as interesting as the read makes it. The author paints the clear contrast between India pre-Independence, post-independence socialist, and the more recent striving-capitalist. Peppered with his own experiences and insights, the book opened the window to what was, and what can be. Das, begin with his own experience.
â€œThe author paints the clear contrast between India preIndependence, postindependence socialist, and the more recent strivingcapitalistâ€? He discuss Nehru's philosophy, achievement in democracy and limitation to capture entrepreneurship of the country. He continues with 1991 reform under PM Narsimha Rao. Das sketches how India achieved free-market with democracy.
He likewise calls attention to how India's late (and fragmented) passage into the world economy keeps on hampering its development, when contrasted with other late sections, for example, that of China, which had a lower per capita salary than India did in the mid-'60s and today flaunts one twice as enormous as India's. In any case, Das stays idealistic that "the new India is progressive of its rivalry and decentralization," especially in light of the Internet and the blast in programming business enterprise.
I definitely would recommend this for anyone who wants a primer on India's recent history. Author -Gurcharan Das In clarifying India's monetary arrangements, he gives a lot of confidence to hypotheses about high-position Brahmins being unwilling to profiting and the administration's feelings of dread that free enterprise would smash poor people; yet Das just notices in passing Russia's ideological influence at the hour of India's autonomy and doesn't examine the Cold War or the setting for India's conviction that import substitution was important to make India less reliant outwardly world for its endurance. Business peruses with an enthusiasm for Third World improvement will gain much from Das.
FEATURED ARTICLE - Mehak Dhingra
BIG DATA IN MARKETING BIG DATA = BIG OPPORTUNITY ‘When one doesn’t know that one doesn’t know, one thinks one knows’. Such is a false sense of knowledge that hinders a marketer’s progress and puts up a veil for him inhibiting him to uncover consumer insights. Here Big Data comes into picture which tells us what it is that we do not know and would be material for a marketer to make the most out of an opportunity.
‘When one doesn’t know that one doesn’t know, one thinks one knows’. Big Data can be comprehended with the help of 3 Vs : Velocity: By this, we mean relentless rapidity of data creation. For example: Netflix closely observes its subscribers’ streaming activities so as to personalize their content page. Volume: By this, we mean the amount and sphere of data that is being collected. For example: Walmart is estimated to create 2.5 petabytes of consumer data every hour, by 2020, the digital universe is expected to reach 44 zettabytes. Variety: By this, we mean different aspects to consumer data to assimilate them into various processes to make the usage more holistic. For example: Amazon uses Big Data for ‘ Anticipatory Shipping’ wherein they anticipate purchases by consumers and start shipping the required to the nearest hub before even the customer submits order online. An incremental innovation thus has been brought up by the use of Big Data
WHY BIG DATA? The significance of Big Data can be gauged from that fact that McKinsey Global Institute (MGI) estimated that retailers exploiting Data Analytics at stage across their organizations could increase their operating margins by 60% . Big Data is nothing but the formation of unique content. Big Data analysis is preceded by Content Marketing Strategy wherein the marketer needs to mine out the relevant content which will be best suited as a tool for our marketing effort. It is very well said that â€˜ Straightforwardness builds Trustâ€™. It is only Big Data that helps us pursue this kind of targeted marketing within organizations.
Big Data analysis is preceded by Content Marketing Strategy wherein the marketer needs to mine out the relevant content which will be best suited as a tool for our marketing effort.
THE COMPREHENSIVE PROCESS TOWARDS THE ULTIMATE MARKETING STRATEGY The process of collecting and storing records of consumer activities as Big Data Making the data Accessible, Holistic, Relevant,Timely,Trustworthy and Actionable The process of extracting insights from Big Data The process of utilizing insights to enhance Dynamic/Adaptive capability SOURCES OF BIG DATA Consumers create data at every step of their Digital Interface. It can be Structured Unstructured Consumers move among devices and channels, various touch points across different mediums- online, offline, third party, corporate networks, social networks, location based and mobile.
FEATURED ARTICLE SIGNIFICANCE OF BIG DATA Customer Analysis: a. It facilitates Market Basket Analysis (MBA) which is a marketing and intelligence technique which predicts the future purchases by a customer and hence helps us in faming a personalized experience. b. It is very necessary to define the Target Consumer. This can be done through Predictive analysis which The analytical assists in presenting the best and targeted deals. capability Big Data is being utilized for Targeting to such an extent associated with that whether a female shopper is pregnant and her due Big Data, uses dates are known weeks before her family knows of her inductive pregnancy e.g. Target did this in 2012 using predictive reasoning and data and enhancing its adaptive capability to influence the dynamic customer’s purchases for baby items giving rise to a long term customer relationship. capability to c. The analytical capability associated with Big Data, cater to customer uses inductive reasoning and dynamic capability to needs cater to customer needs e.g. Southwest airlines record conversations between service personnel and consumer to extract insight using a speech analytical tool which is instrumental in keeping a check on the information flow and meeting hitherto unrecognized consumer needs. d. Next Best Action (NBA) to engage consumers by assessing all the real time offers to the consumers and finally offering them the most optimal one. Big Data uses an algorithm to assess the propensity of consumers to accept the given offer within the complex business standards and situations. Sentiment Analysis is done which comprises of insight into consumer’s emotions and psychological factors that influence a customer’s priorities and purchase decisions.
2. Pricing: The theory that ‘ Big spenders are the most expensive to keep and least loyal over long term’ illuminates the importance of pricing decisions in a firm. ‘Flexible Pricing’ enhances a firm’s earnings e.g. Major League Baseball has adopted this to capture the willingness of the fans to pay more for a special game.
Thus Big Data helps in on the fly detection of changing trends and hence can be instrumental in framing the whole Marketing Strategy.
3. Competitors: Big Data can be effectively used to combat competition e.g. Ford is bringing in revolution in product innovation and design. When Ford realized that surrounding noise interrupted software’s ability to understand driver’s commands, it introduced automatic noise reduction technology. Thus Big Data helps in on the fly detection of changing trends and hence can be instrumental in framing the whole Marketing Strategy. Although the collection of the data might need some investment but the insights that it provides are much more worth than the fortune spent. The Return on data can be calculated as Value of data/ Cost of data Hence, Big Data can be an effective tool only and only if we use deductive and predictive analysis on our existing data to get the content that is material to the organization and its purpose.
SQUARE HEAD - Yash Podar
CALL FOR ARTICLES FOR MARKSMAN DECEMBER EDITION 2019 You Only when you pen down words, do ideas come to life. The Marksman provides one and all the opportunity to discover their hidden talents in the literary field through the call for articles. For the upcoming month, the articles can be sent on any of the following topics: • Twitter’s ban on Political Advertising: A good step? • AI challenges for Digital Marketing in the Future • Collaborative Marketing: Scope? * Please ensure that there is no plagiarism and all the references are clearly mentioned. Kindly follow the guidelines given below: 1. One article can have only one author. 2. Your article should be approximately 800 – 850 (strictly adhere to the word limit). 3. The article must have relevant pictures that can be used to enhance the article. 4. Font Type: Gill Sans MT 5. Font Size: 14 6. Send in your articles in .doc/.docx format to firstname.lastname@example.org 7. Subject Line: Your FullName_Institute Name_Course Year. 8. Kindly name your file as: Your Name_ Topic.
The best adjudged article will be given a Winner’s certificate. The First Prize Winners will be awarded Rs. 500 Cash Prize. Deadline For Submission Of Article: 25th December 2019
/interface_simsr /interface_simsr /linkedin.com/in/interfacesimsr