STRATEGY WALL THE STRATEGY AND CONSULTING CLUB OF IIM ROHTAK
THE BRAND ARCHETYPE WITH A PURPOSE GLOBALIZATION AND PROTECTIONISM: IS EITHER ONE INEVITABLE?
12TH EDITION
“Designing a winning strategy is the art of asking questions, experimenting and then constantly renewing the thinking process by questioning the answers. No matter how good today’s strategy is, you must always keep reinventing it.” - Constantinos Markides
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THE BRAND ARCHETYPE WITH A PURPOSE
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GLOBALIZATION AND PROTECTIONISM: IS EITHER ONE INEVITABLE?
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HOW IS EXPERIENTIAL MARKETING SHAPING CUSTOMER INTERACTION AND THE MARKET?
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INFLUENCE OF ORIENTATION OF ADS AMONG VIEWERS
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TOPIC- BRIDGING THE INSURANCE PROTECTION GAP IN EMERGING MARKET
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DATA SCIENCE FOR MARKETING
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THE BRAND ARCHETYPE WITH A PURPOSE - Sancy Isaac George (SIBM, Pune) Introduction The psychologist Carl Jung, through his research, established a theory, whose basic premise is that throughout history, humanity collectively shares universal themes of personality traits and human life; which are embodied in distinct character types at a subconscious level. Through his work, he established categories, exhibiting personality traits, which can be easily comprehended as “Archetypes”.
on the other hand, have infinite possibilities. They’re not only unique but can be extremely memorable. As archetypes represent all personalities then they are both your customer and your brand.
To create high-performance life science marketing leading to greater differentiation and pricing power, it is required to effectively use archetypes. The trick is to identify your customer’s personality, then align your brand with the archetype that would most appeal to a desire within your customer. Aligning one’s brand with an archetype, has become imperative, in today’s world. This is due to a twofold reason. Firstly, brands today are involved in a cut-throat competition based on price, benefits and features. To avoid brand to become a commodity, it must make a deeper connection with their audience.
Care-giver Brand With Purpose The caregiver archetype is exactly what it sounds like: nurturing, helpful and altruistic. The caregiver sometimes goes hand-inhand with Hero archetype, as they share a common ideology to make the world a better place.
Secondly, to create a differentiation. When it comes to standing out in a crowd, differentiation strategies seem well worn, with latecomers to the party left with little to work with. Personalities,
Caregiving brands foster authentic connection between the brand and its customers and partners. They build loyalty among customers, reducing churn, and cultivating a constant interest in their
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products and services. They empower vocal advocates to carry their message forward and generate a word-of-mouth promotion. It also has a lower cost of acquisition based on empathy and affinity for the brand. They create long-term value by helping people make better choices and caring about others.
tinsinct in people, showcasing how such moments can go ahead to strengthen human relationships. The journey began last year with advertisements showcasing moments of generosity. Kicking off with a video featuring two brothers where the elder brother, out of goodness of his heart, gives up his chocolate for his younger brother. The company later released a Raksha Bandhan commercial, ads during Diwali and Eid to promote their product, Celebration. They also had cricket themed spots about a customer’s act of generosity toward a delivery man, and another piece welcoming back Steve Smith and David Warner during the Indian Premier League. This year Cadbury added more chapters, to its ‘Kuch Meetha Ho Jaaye’ Initiative. 1. CADBURY’S UNITY BAR
Cadbury's Bubbling With Care and Generosity Cadbury Dairy Milk is one of the prime brands which let Indians experience Asli Swad Zindagi Ka (the real taste of life) and has completed 70 years in the country. Celebrating the milestone, Mondelez India, the parent company has given it a new twist with its ‘Kuch Meetha Ho Jaaye’ campaign focussing on why inherent goodness and generosity is important in our relationships. It is always challenging for a chocolate brand to stand for a purpose, as a Cadbury Dairy Milk ultimately cannot save the day. However, their campaigns have strived to celebrate the generous
Around India’s Independence Day, a limited edition named Unity Bar, was launched by Cadbury’s. It was a blended chocolate bar specifically designed for the Indian market, reinforcing the message of celebrating diversity by using a splash of multi-lingual dvertising in print media. Generosity is what Cadbury was forging as a proposition for the overall organization to be more purposeful.
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2. CADBURY’S WORDLESS BAR
To tackle the issue of loneliness among the elderly, Cadbury launched another limited-edition chocolate, the “wordless bar”, in collaboration with Age UK. All words were removed from packs, leaving just Cadbury Dairy Milk’s glass and milk 3. I
imagery. The idea was generated after a research which revealed that 225,000 people aged 65 and over go a whole week without speaking to anyone. Proceeds from the sales went to the organization.
YOU
Cadbury’s Friendship Day campaign, #HeartTheHate, to fight cyber bullying with flurries of purple hearts. The idea is
to give visual device to express solidarity and support for people getting bullied and overriding the negativity caused by it.
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Globalization and Protectionism: Is either one inevitable? - Kalyani Tayade (IIM, Calcutta)
Introduction All the countries of the world thrive to achieve financial stability, economic growth and high standards of living. Countries have taken different paths to achieve these goals by national economic and political policies. A common factor which links these growing economies is their support and active involvement in the global economy. Over past 20 years, as several economies have become more open to the global economy, the percentage of the developing world living in extreme poverty (defined as living on $1 per day by IMF) has been cut to half. The term globalization began to be used more commonly in the 1980s, depicting the technological advances that made it easier and quicker to complete international transactions. In a broader sense, Globalization is the spread of products, technology, information, and jobs across national borders and cultures. The growth in global markets has helped to promote efficiency through competition. With this growing competition came a time when governments across the countries started looking inwards and there evolved a new notion called Protectionism. It refers to government actions and policies that restrict or restrain international trade for the benefit of a single domestic economy. Looking at the definitions, globalization and protectionism seem opposing ideas. We
have found multiple instances in which these ideas co-exist in countries. Analysis of the need for each of them gives us sparkling evidence to suggest that neither of the two can be avoided. This paper aims to explain each of them one by one with the concerned pros and cons and their results in the modern world. Globalization Globalization in economic terms describes an interdependence of nations around the globe fostered through free trade and financial flows. The term sometimes also refers to the movement of people and knowledge across countries. It is a social, cultural, political and legal phenomenon. The free trade is based on the David Ricardo’s comparative advantage theory, which states that an agent will produce more of the goods and services in which they have a comparative advantage (less opportunity cost) as compared to their trade partners. Global trade offers a bigger market to cater. But this bigger market cannot ensure that the benefits are shared equally and that’s where the problem comes into the picture. According to some scientists, globalization was present 100 years ago, but what helped modern globalization to integrate more is the presence of electronic communication. 20th century saw
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formous growth and increased average income by the countries, but the progress was not evenly distributed. It is found that the gap between rich and poor countries is indeed increased. Globalization can raise the standard of living in poor and less developed countries by providing job opportunity, modernization, and improved access to goods and services. On the downside, it can destroy job opportunities in more developed and high-wage countries as the production of goods moves across borders. Understanding the relative costs and benefits can pave the way for alleviating problems while sustaining the wider payoffs. Protectionism Protectionist policies are usually implemented to improve economic activity within a domestic economy but can also be implemented for safety or quality concerns. Tariffs, import quotas, product standards, and subsidies are some of the primary policy tools; a government can use in enacting protectionist policies.
Proponents of protectionism argue that the policies can help to create domestic jobs, increase gross domestic product production, and make a domestic economy more competitive globally. The factors used to support the protectionism are high unemployment, unused capacity, low levels of economic activities, trade deficits, and increased import penetration. With US yield curve being the flattest since Mar 2017, it is considered as a sign of unemployment., which is causing unrest in people and protectionism is the way they could find some way out. All things are not rosy in case of protectionism. Disadvantages of protectionism are limited choices for consumers which leads to the creation of cartel by selected sellers, Increase in prices due to lack of competition which becomes a strain on the income of people, Political and cultural isolation which is by far the most important point in the today’s connected world, No #Metoo movement would have
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been propagated unless the world was open to embracing one culture that is humanism, No incentive for R&D, it is kind
Interlinking Globalization and Protectionism Some researchers worked to find the interdependencies of globalization and protectionism. S. Garman found out that globalization induces countries to increase agricultural protection. Agriculture being the primary sector of the economy, the
of the moral hazard in which you would not spend money for the betterment of consumer if you can ripe more benefit by the current condition.
development process starts from it. As a country develops workforce is moved from primary to next levels. This means that the induced protectionism is expected to get transferred to the subsequent economic sectors.
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Globalization changes incentives policymakers to gain from foreign trade. Many times this foreign trade puts domestic producers in pressure leading them to oppose free trade which we saw in the US presidential elections, in which, people supporting America First movement voted for Donald Trump. Now Trump levying more and more tariffs on China is a kind of protectionism only. Left-wing parties in advanced industrial countries advocate more protectionist policies than do right-wing parties. These findings remain true even when holding many other political and economic factors constant. Inequality tends to increase antiglobalization positions of parties, net of proglobalization positions, an effect that does not significantly differ across party families or levels of actual globalization. Multi-level analyses by Hidde, Roza and Marcel in their study shows that globalization affects cultural protectionism negatively, providing support for the diversification interpretation. Commercial and financial integration before World War I was more limited. Given that
integration today is even more pervasive than a hundred years ago, it is surprising that trade tensions and financial instability have not been worse in recent years. Conclusion From the analysis of all the work done so far on the globalization and protectionism and the recent happenings in the world, we get an idea of what the modern world is heading to. Just like any common phenomenon people want to maximize their gain, looking from the political point of view, the government wants to maximize the welfare of people and would support the globalization so that people would get cheap goods and service and the incoming human capital is expected to increase the development speed of the nation. But again, there comes the point where competition becomes too stiff wherein in domestic entrepreneurs feel that they are at a disadvantageous position and they rebel, better foreign capital leads to increase in unemployment of the local people. The aggression of people pressurizes political
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political party and the government indeed to take some steps to protect them from the hyped globalization phenomenon. This leads to government resorting to the protectionism policies. To me, this seems
like a never-ending cycle in which too much of one view leads to support other. For years may come and go, the government may change, no one will really know the perfect balance between the free trade and self-dependence.
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HOW IS EXPERIENTIAL MARKETING SHAPING CUSTOMER INTERACTION AND THE MARKET? - Parul Mehta (MDI Gurgaon)
Marketing refers to activities undertaken by any company to communicate with the customers and consumers, to create value, to satisfy their needs and wants, to promote the buying or selling of a product or service. There are different types of trends are developing in the Marketing sector like Social Media Marketing, Experiential Marketing, Influential Marketing, etc. Experiential Marketing, which also known as "Engagement Marketing," is a kind of marketing strategy that encourages the audience to interact with an industry and their products in a real-world or a realtime situation. This type of marketing focuses on getting the consumer to experience with the brand. Most of the advertisements as the
video –spots and the radio-jingles or the hoarding as the digital or the flex give an edge to the brand in terms of the awareness within the target audience; The Social Media Marketing also share thoughts or feedbacks in terms of experience or rating; But Experiential Marketing builds memories & involvement with the customers. Experiential marketing is classically a real-life event that the consumer or customer can participate in activities with brand/product. Various Famous Examples of the Experiential Marketing are quoted as below; 1. Volkswagen – “The Piano Staircase” The experiential Marketing does not always have to involve the product or showcase it’s utilization.
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2. Gatorade Combine Case Study Experiential marketing may be more impactful when it offers experience with the product and real actual value to the consumer, whether it is a free product or in sampling formats or as a newfound knowledge booklets.
4. Doc McStuffin’s Check-Up Case Study The different experiential campaigns are created for different segments. Doc McStuffin’s designed this activity for children. The goal is to make spread happiness and building a positive relationship with the parents & children.
3. Aston Martin On Ice Case Study The company may create an exclusive experiential experience related to the product and engaging the consumers & customers via the internet lead to strong social media campaign and connection. The strategy can still reach a wide audience and achieve the lift in brand equity that the company was aiming for.
Experiential marketing spending trend in the United States in 2017 and 2018 In 2018, experiential marketing spending in the United States has reached to 62.29 billion U.S. dollars, which was 57.7 billion dollars in 2017.
In view of the above, it may be concluded as the Experiential Marketing stimulates the sentiments and generates an emotional connect with a Company, Brand, or a product which drives the brand loyalty, sales and Return on investment (RoI). 10
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INFLUENCE OF ORIENTATION OF ADS AMONG VIEWERS - Jeffrey Boopathy, SASTRA Deemed University, Thanjavur
Introduction: Social media ads mean we can run advertisements on social media platforms like Facebook, Instagram, Twitter, TikTok etc. In previous stages, the orientation of the ad didn't matter but now with the introduction of Instagram stories and Snapchat it has taken both a positive and negative toll on the advertising world.
the requirements of the particulars platforms, the video orientation must be made.
Orientation:
In television, every ad comes in landscape and a change in this orientation will lead to a complete disaster. Because any other resolution will make the video look either small or will leave a lot of space on the sides or bottom or top. But on social media platforms like Facebook or Instagram or twitter etc, there are different orientations in every single platform. So according to
Placements Landscape ads or square ads: These forms of advertisement will be used mostly on YouTube, the second largest search engine in the world. The major place the landscape ads are seen on desktop viewers. Eg: Computer and Television. Another place for the landscape videos or pictures is the websites, blogs, and landing pages. Now though Youtube consists of major landscape video ads it has options to have other types of format too. It can be square or even a portrait too. Now according to the data from Heap, Youtube has the lowest
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conversion rate of 0.5%. Now, these may be due to various factors, the ad itself or orientation or any other stuff. But people are less likely to turn their phone 180 degrees when a landscape ad come in during their portrait view. it is related to websites then banner ads can also lead to higher conversion rates based on many factor. But even in these banners, there is a possibility that the viewer or the consumer gets influenced by the orientation of the particular advertisement. The landscape advertising can be having an increase in the conversion rate if it is happening in the mid-roll while watching a video. Potrait ads: Vertical video ads are watched 9 times more than landscap advertisements. One of the major benefits is the reduction of costs due to the increase in engagement rates. For portrait ads, there are certain placement options. It is possible on Instagram, Facebook, In-apps, Snapchat, TikTok and also on Youtube. Now according to Rocketium Academy Snapchat ads (Portrait ads) are converting 2 times more because of the higher visual attention and full-screen viewing capacity and the automatic audio. Now Instagram has released IGTV in June 2018 and it is in the portrait format
it can be done in various ratios with either the default background (black) or we can insert a new background (any colour). But one of the major disadvantages in the portrait advertisement is that not a lot of information about the product cannot be displayed. But it also acts as a major advantage as it represents only the pain points of the customers as there is research saying that people who find the ad interesting during their first three seconds of their viewing time only will get converted. That is why even putting a landscape video ad in TikTok will lead to a lower view rate than the portrait video. There are too many details to be covered by the consumer in the landscape advertisement. But in the case of portrait ads means only those useful information needed by the consumer which are: Why you have to buy the product? What are the specs? But it is a major challenge to compress all the information with the 15 or 45 seconds of the advertisement. But that is where the talent of the advertisement company lies. The portrait ads or the posts will take a full view of the mobile screen no matter how big the screen is, if the video or photo is shot in a considerably good camera the resolution won’t break. 12
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Conclusion: The major reason why portrait ads are best is that it’s filling up the screen. Because not a lot of viewers will take an effort to turn their phone when a landscape ad came in the place of portrait one. Now with black borders ads are being made in the portrait platform then there are several defects: Lack of clarity in the words. Lack of video clarity. Increase in the efforts of the viewers
One of major things that an social media strategist should consider while preparing any kind of strategy for the content creation he/she should keep in mind that it involves the following two things More participation of the viewers With less efforts Thus it can be concluded that with rising portrait orientation activities and formats in the digital world, it will be better if the businesses focus towards this field of ads.
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BRIDGING THE INSURANCE PROTECTION GAP IN EMERGING MARKET - Vineet Saxena (National Insurance Academy (NIA), Pune)
In 2018, Lloyd’s second underinsurance The protection gap is a huge roadblock in report revealed that there is a global the development of the risk transfer insurance gap of US$162.5 billion. Of the industry. gap identified, approximately US$160 For addressing this issue, we have billion comes from emerging nations, and discussed three approaches described rest US$2.5 million from developed below as countries. Even though the global economy has grown with more assets at Top-down Approach Promoting awareness regarding the risks over the years, there has been limited benefits of insurance especially through progress in closing the protection gap in social media. More awareness will help emerging markets. to overcome the behavioral biases, As Geneva Association insurance cultural and social factors. protection gap report, there are so many Actively engaging in public-private factors like lack of affordability and partnerships and with other influencing awareness, poor service quality, trust bodies: non-government organizations, issues, cultural and social factors, lawyers, regulators, the aid agencies behavioral biases and weak legal and academia. Only by getting support environment which are responsible for this at all levels, can make a real difference. protection gap. Promoting automation in insurance process to enhance transparency and better customer experience. Also improving analysis of collected data to develop new solutions to bridge the gap.
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Bottom-up Approach Developing platforms to boost microinsurance at all levels in emerging markets. The aim is to provide socially impactful, commercially viable insurance protection to the underserved. It is overcome affordability challenge. To achieve the above, we aim to identify potential strategic partners having expertise in fields of distribution, technology, and social impact issues, along with donor organizations, and government and quasi-government entities. Good partnering with government will help to address the loopholes of the legal environment.
also work with policymakers to build functional products. Insurance industry aspires to make our world more resilient, however, the underinsurance is the greatest barrier, which needs to be overcome as it does not help anyone.
Third Approach Filling the talent gap by attracting the youngest minds with the keenest understanding of technology. Reaching the mobile-friendly young generation, explaining the benefits of insurance and also distributing insurance electronically. Empowering youth by providing job opportunities in the insurance sector. The protection gap is a global challenge and closing this is very critical for the industry as well as people. Our research work concludes that no one group that can close the insurance gap on ts own. A collaborative approach involving all the concerned organizations, experts, government entities and NGOs can bridge the protection gap. Insurers need to come with innovation in product offerings and also work with policymakers to build functional products. Insurers need to come with innovation in product offerings and
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DATA SCIENCE FOR MARKETING - Ruby (C.C.S National Institute of Agricultural Marketing (NIAM), Jaipur)
Introduction: A renowned marketing guru Mr. Peter Drucker once said “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself” and yes, the data science has made it much easier than before. Call it a new oil or new gold, data is everywhere and is generated all the time. Companies are making use of it for commercial purposes and making profits, through selling new products and services in a different way than before. For exampletherecommendation system, the search engines, the credit risk algorithms, etc. It has affected almost every aspect of the marketing mix. It’s usage is in marketing is tremendous, right from deciding a good market for product launch, making effective marketing strategy, real time decision making, judging a promotional scheme, to analyzing customer feedbacks and further sales forecasting of the next season. Gone are the days when wall paintings, TV ads with nice jingles, and newspaper ads were the key areas for influencing the customers today is the age of Instagram views, Facebook targeted aids, YouTube views, etc. Today’s marketer also knows how to use one product sales data for predicting other similar or complimentary products performances. Analytics is making a paradigm shift in he way todays marketer think and perform. As the world is moving more towards organized retail from the traditional mom & pop stores the future of data science is very welcoming and rewarding for marketers.
What is data science? Data Science is a blend of various tools, algorithms, and machine learning principles with the goal to discover hidden patterns from the raw data. Why Data science? Data science is primarily used to make decisions and predictions making use of predictive causal analytics, prescriptive analytics (predictive plus decision science) and machine learning. Data warehouse and recording has been an age old process but previously it was small in size and very few basic outcomes could be generated from them. Now many companies like Walmart, P&G, etc. are keeping large amount of data (also known as big data) in their data warehouses and which is used for heavy analytics using different tools like Python, R, SPSS, etc. to get useful insights. The company using simple analytics can understand the precise requirements of their customers from the existing data like, customer’s past browsing history, purchase history, age, income, etc KDD(Knowledge Discovery in Database) also known as data mining can help the companies by running targeted aids, bundling of products through past sales data, complex algorithms in the insurance industry to understand the right value of the customer, etc. 16
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Ex- Many small organic food companies are able to attract and convert customers through targeted social media ads.
How data science can be used for marketing managers? Marketers can use data science to do consumer sentiment analysis. they can get better insights into their customer beliefs, opinions, and attitudes. They can also monitor how customers react to marketing campaigns and whether or not they’re engaging with their business. The present marketers in this world are following Real Time Decision Making by following the automatically formed dashboards through the different software. They are capable of analyzing current performance of different products, suppliers, retailers, promotional schemes, etc. and take corrective actions on them. Some current applications include: The rise of digital advertising: Especially transformative for small businesses, data-driven, digital advertising gives small organizations and agencies, which were once cut out of costly television advertising, new and cost-effective marketing channels in the digital realm.
Micro-targeting and microsegmentations: Statistical analysis of semi- structured and unstructured data allows marketers to slice and dice data in ways to inform creative executions against micro-targeting strategies. helps marketers deliver specialized offerings to smaller, highly specific customer groups. ExWalmart bundled beer and diaper to get considerable sales through their stores in U.S.A. Speed and performance: From planning and promotion to execution, analytics led marketing approaches can increase speed and improve execution of campaigns. to validate success, analytics methods can be applied to vast data sets to measure the effectiveness of marketing programs and help marketers to understand what programs are working best. Real-time experimentation: Using analytics to better understand customer sentiment about product and service attributes is becoming a core competency. The big news here is scenarios and experiments can now be tested in real-time rather than in hindsight or on an intermittent basis. As a result, companies have an opportunity to more immediately engage with and delight customers.
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Personalization Mass personalization-in which all consumers receive the same offering and/or marketing mix, personalized to their average taste. Segment level personalization - n which groups of consumers with similar preference identified and the marketing mix is personalized in the same way for all consumers. Individual level personalization-In which each consumer receives offerings and/or elements of the marketing mix customized to his or her individual tastes and behaviors. Big data offers firms the opportunity to choose an optimal level of granularity for different elements of marketing mix. For example, a firm like Ford Motor Company develops a global(mass) whole brand image; personalizes product and brand advertising to segments of customers; customizes sales effort, prices, and promotions at the individual level and personalizes in-car experiences exploitation imaging technology. Recommendation system - Powerful personalization tool employed by Netflix
and Amazon. Content filtering which make recommendation on the idea customer’s past preference Data science is of terrific facilitate in increasing these marketing investments.Ex-social media marketing project more specifically Instagram marketing iInformation. Data analytics help in a marketer analyze each of the relevant. Instagram groups, hashtags and users to come back with the right groups to target, the right people to follow from competing pages. This way budget for more valueadding tasks. Cost saving and business opportunities: Amazon's success with data allows it to run lower margins in retail, and keep bringing in the customers. The data assets that they’ve gathered avail to make profit from two businesses, one is their cloud business other is AWS. But they've built a very large advertising business on the back of data they’ve accumulated from the retail business. The profits that they make on these two businesses are reinvested into the retail business in order for them to maintain the prices very low..
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User profiling Companies of all shapes and sizes churn out the data of behavioral pattern of consumers and accordingly design the product. So, it helps in product improvement. Filling individual shopping baskets through relevant product recommendations. In automated marketing and in customized targeting, practitioners would like to use a consumer’s purchase history to predict the next product the consumer will buy. Improved pricing strategy: E-Commerce companies, in particular, can benefit from data driven price development. Mckinsey estimates that standard products generate 75% on an average revenue.
brand are important for the management of the brand Consumers readily express their pinions about brand attributes such as ecofriendliness, and luxury via social media. Identifying relevant choice alternatives from a consumer´s perspective: Some high- echnology product categories, for example television sets and digital cameras offers bewildering choices for consumers, and marketers’ avail to target lucrative submarket for their product. Google Analytics can be helpful for a tag that is often required by companies to capture user actions across all pages on their site. Instead of starting from tag-based information, user can also start with pagelevel information, user can also select specific page.
Advanced lead scoring: Marketers being able to separate the most willing from the CONCLUSION: rest and prioritize all incoming leads based Analyses of consumers and markets that on likelihood to buy can increase sales and were once unthinkable because of their revenue. complexity, scale, and dynamics are now possible. Marketing managers have already Improve conversion rate: Better leads made substantial advances in such mean better conversion. Lauren jones, in fundamental areas like consumer demand charge of global campaigns at dell, has prediction, marketing impact assessment, mentioned that purchase stage opportunities customized communication and promotion, scored with predictive algorithms converted and brand valuation, etc. at 50%, while non-scored converted at 17%.
The present marketers must be aware of how to make use of the large amount of data that is being stored every day. They must be backed by analysts having deep knowledge of data mining practices like marketing- mix optimization, personalization for meeting the demand for the consumers, pattern mining and association rule, text mining, clustering Knowing how consumers truly perceive a techniques, etc. Increasingly, routine particular brand: Consumer perceptions of 19
Filling individual shopping baskets through relevant product recommendations: In automated marketing and in customized targeting, practitioners would like to use a consumer’s purchase history to predict the next product the consumer will buy.
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marketing processes and decisions are becoming automated. This creates the challenge of determining how to ground these automated decisions in substantive knowledge as well as managerial intuition and oversight. Future marketers need to be well equipped to do that.
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ABHINAV TRIPATH KAJAL PATIL KANUJ KHURANA MANOHAR GUPTA PUJA ASHWINI AKANKSHA LAWHALE AMRISH RAI MEDHA WAGH PRITHA BARUA SAURABH AZGAONKAR SUMAN SHARMA TEJASWI NETTAM
DISCLAIMER: THE VIEWS AND OPINIONS EXPRESSED IN THIS MAGAZINE ARE THOSE OF THE AUTHOR AND DO NOT NECESSARILY REFLECT THE OPINION OF THE STAKE HOLDERS OF IIM ROHTAK