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From the Director
T
he Indian Placement Reporting Standards (IPRS) came to life in July 2011. About 20 B-Schools signed up as the founding members for the IPRS (please visit the site http://www.iimahd.ernet.in/iprs/ for details).
specific sectors, specific functions and specific locations. An American location compensation need not be compared with an Indian location compensation, HR can get a realistic assessment of the functions draw, rather than submerge it in Marketing (iv) Another attempt to have realistic comparison is to report the salaries in the Purchasing Power Parity Exchange Rate (v) The student population is also clearly defined in terms of who seeks placements, and those who do not seek placements through the Institute for various reasons
What is the IPRS? It is an attempt to bring about transparency, uniformity and comparability at the time of campus recruitment, on all the placement parameters like salaries, their distribution across sectors and geography, the direct and indirect/ intangible component, etc.
It is not possible to list the complete details of the IPRS in this space - the site mentioned above can be visited for details. What needs to be pondered is why only 20 Institutes have stepped forward to voluntarily implement the standards. As transparency is the name of the game, what do the 20 gain by being transparent? And are the rest shying away from transparency or from the difficulty of actually implementing the Standard, for its “cumbersomeness” cannot be under-estimated. A lot depends on the companies cooperating in providing exact salary details - which may not always be welcomed for various reasons of secrecy, etc.
What is the felt need? Basically, placement statistics are used by a number of stakeholders for various purposes. Currently, with no standard format, reporting of placement statistics is skewed to the purpose of the stakeholder who reports it, leaving a lot of doubts about its veracity as well as utility for other stakeholders. Who are the stakeholders? Primarily the recruiters, the institutes, the current students and the prospective students. Recruiters use placement variables to attract students to their companies; the flip side is the dissonance often faced by students between what they imagine the offer is and what actually transpires on joining. Institutes use a lot of window-dressing in reporting placement statistics. Current student as well as prospective students could often be confused and misled by unaudited, non-verifiable claims. Media, of course, is either gullible or has a field day in forwarding opinions, own or induced, in adding to the ambiguity.
KIAMS is one of the 20. It is futile and non-value adding to speculate about the others outside the 20. What we can talk of is why we ventured in where “some angels would fear to tread!” At one level it was seamless for us because this is precisely what we have been practising in our own way over the past few years. To the extent that data is available to us, we have shared it with the concerned stakeholders. We have not shied away from declaring our actual placement %, even in adverse times. We do not see any advantage in not being transparent, for that surely seeds dissonance at some point or the other, with some stakeholder or the other.
What does the IPRS do? (i) It attempts to include all relevant parameters in the Reporting Standard of campus recruitment. Some examples include Sector, Function, Location, etc. (ii) The compensation is clearly demarcated as “Total Guaranteed Cash Payment” and “Maximum Earning Potential” which includes long term and performance linked variables. MEP is directly relevant to the individual as compared to CTC which has a relevance to the company. A number of factors not relevant to the individual get included in the CTC to present a bloated picture of compensation (iii) The overall average compensation can now be understood for
2011 was too late for us to retrofit the data in the IPRS. 2012 has just begun for us and we will be adopting the IPRS. Our experiences will be reported in this space sometime next year. ! Dr. Gopal Iyengar
Editorial
“
So when a good idea comes, you know, part of my job is to move it around, just see what different people think, get people talking about it, get ideas moving among that group of 100 people, get different people together to explore different aspects of it quietly, and, you know.....Just explore things.” With this inspirational line from the world's very own personal brand, the man who marketed himself: Steve Jobs, Team Chanakya brings to you our next issue which revolves around the theme of “Marketing”.
who also said that picking up one good idea and saying no to the hundred other good ideas is what really matters. Life is short and we don't get chances to do many things. So, we must carefully pick the great ideas and turn them into realities. When this idea manifests into reality the whole world will stand up to its feet and not only would it applaud but also it would keep you in millions of hearts for many more years to come. With this thought, we wish B-13 good luck for their final placements and B-14 to strive for excellence and come out with flying colours in all their endeavours!
Steve Jobs inspired millions of people around the globe with his sheer determination and bringing constant innovation in each of his endeavours. We should all take inspiration from this great man
Happy Reading! The Editorial Team
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Social Media : Talking differently and creating ripples in the PR Industry -Mr. Prasoon Kumar Ghosh
T
This enables much more command over where and what message to place to gain maximum mileage in the target audience. It also provides a huge scope of i n t e r a c t i v i t y. O n e c a n participate in discussion forums and not only gauge what the target audience is talking about but also formulate and implement your communication strategy according to it.
oday, if one picks up any magazine or newspaper, one would find an article or two on the rise of social media in India. Be it on how the who's who of every sector from politics to filmdom tweeting to the various comparative analyses on the user bases of social networking sites like Facebook and Orkut. This sudden importance imparted on the social media can also be seen by the communication planners of various organizations, who now are seriously making it a part of their communication media spectrum.
3.) More focused approach: Even though traditional media supporters will argue that with the choice of particular medium like trade magazines, business channels etc, one can get more focused messaging towards the target audience, social media still gives one much more edge over it. Even if a specific class of media is chosen, the message still gets wasted. On the contrary with social media you get to explore the universe with different communities and discussion groups. For example: a community on New Delhi will mostly have people from Delhi and would be majorly interested in any news about Delhi & NCR.
PR industry which was till now mostly about media follow-ups and coverage in traditional media, now like other communication fields, is waking up to the social media revolution. Even though digital communication as part of the PR industry is still at its very nascent stage, there is actually a huge potential to it. By and large the following facts can be underlined: 1.) It gives a direct control over messaging than conventional PR: In conventional PR one has to depend upon the journalist's discretion-on what and how he or she is going to interpret and convey your message. Also, one needs to be careful about the editorial and marketing policies of various media organizations when one wishes to use them as a communication medium for your client or company. But with respect to social media one is not bound by such restrictions except a few guidelines on propriety of the content etc. One has direct control over what he/she posts online and one just have to know where and what to post that can catch maximum and relevant exposure to the right target audience.
In addition to the above highlights, social media is not only about B-to-C communication. With professional networking sites and industry specific portals and blogs there is wide prominence of social media with respect to B-to-B communication and relationship building. Today any communication strategy that discounts the social media cannot be considered complete. But a Digital PR practitioner faces a lot of confusions when planning a Digital PR strategy in what and where to use. The scope on the digital world is seamless, but till where one can consider Digital PR and where the scope of work goes into the purview of Digital Marketing is a very thin line. A digital marketer can cover everything and he has benefits, as an advertising professional he has marketing funds backing him while Digital PR person has to utilise the free channels to get across the message to the target audience.
2.) Direct communication with the target audience: Unlike the traditional PR the organization's message does not surpass to the intended target audience by a third party communication medium. It is the organization itself who take the communication directly to the place where your target audience is.
So what is it that a Digital PR expert must do to overcome the
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competition and how does one differentiate it with an allencompassing gambit of digital marketing. Here are some key pointers that we at Channel PR have imbibed in our Digital PR strategies to stand out from the clutter:
message that is both informative and attractive, but if enough positive responses are not received or people are being hostile to the intrusion, don't spam, it'll just create a negative image for the brand. Being persistent isn't spamming.
a) Online Reputation Management: PR is much more than just making a presence, it's about building and managing credible reputation for the client. Digital PR too is not just about grabbing the maximum eyeballs; it's about changing the perception and building a favourable image in the mind behind. So beyond the glitters you need to put a strong strategic messaging to be an influencer. Even today in India, not everything online is believed to be true and so the direct communication here becomes a disadvantage as it's without a credible third party endorsement channel. We need to be proactive with our thinking and approach online, we should be able to anticipate the reaction and be ready with our response in all scenarios. We must keep an analytical eye on the online buzz, understand the pulse of the communication and communicate back accordingly. The key here is two-way communication, so keeping an open and interactive communication channel is the best way to manage the clients' online reputation.
c) Engagement: Digital media is an interactive platform and the master key to success of a digital campaign depends on 'engaging' your target audience with your brand. Without engagement no matter how good the targeting and messaging is, eventually the page/community/group/blog will become static and die away. We must remember a conversation is a two way process and the best way to involve your audience into a conversation is through some engagement programmes. These programmes can be from basic feedback mechanisms to quizzes and contests that involve the audience with the brand. Mostly such programmes can be implemented on the social networking page or blog using some free built-in gadgets. Even if such programs require some investment in terms of prizes etc., one should not shy away from them, after all even the traditional PR gets immense help with paid PR forms. But the biggest prize mainly for the audience still remains the involvement with the brand that gives them a feel of “My Brand� and gives the campaign a viral form. Hence, some of the best and most popular campaigns on the digital platform have been those involving interactive engagement programmes.
b) Focused Targeting: Digital PR, just like traditional PR, is a victim of heavy quantitative expectations from the client. The emphasis is on getting many likes, members, views on the page, group or channel and in meeting these quantitative expectations the focus is lost. One tends to forget that the original objective was to reach the right target audience with the right messaging. In most cases the numbers we see are either fake or totally untargeted. What is the use of such members who will never be the client's customers? In such cases at the end one just ends up with a dead community or page. So before going on an invite spree, be mindful of whom and how are you targeting. Even if it's just the friend group, first make sure he/she is a potential target audience and to make sure one can put an invitation message that not only informs where they are getting into but also piques their interest in the page/group. So if the targeting is done rightly then one should get the audience that includes the potential customers as per one's digital potential.
Finally to conclude, before taking a brand on its digital journey, proper research on the sector, monitoring the online buzz and judging the digital potential of the brand should be done. Not all brands are for the digital platform, not all social networking platforms are right for one's brand and not all brands will get thousands and lakhs of likes/comments etc. As per the digital potential and target audience, one's brand will have to carve its own niche in the vast digital space and that is only possible through a strong strategy!
-Prasoon Kumar Ghosh, Director – Digital PR, Channel Public Relations Consultancy.
Another key is to never spam. Once after finding the target areas where one will find a host of target audience, one develops an invite
In the creative state a man is taken out of himself. He lets down as it were a bucket into his subconscious and draws up something, which is normally beyond his reach. He mixes this thing with his normal experiences and out of the mixture he makes a work of art. - E.M. Forster 3
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Predicting Adoption of Internet Banking: Diffusion of Innovation approach -Dr.M.Sivgnanasundaram
characteristic of electronic banking and it is suggested that consumers had perceived an existence of risk with the use of electronic banking. These include financial risk, performance risk, physical risk, social risk and psychological risk. Out of these the financial risk is paramount to the customer. While banking through the internet, there is always a concern for security. The security of internet bank account depends to a great extent on the security of the computer, password and pin number. Any leakage of information regarding password or pin number and banking transactions can allow computer hackers to gain access to bank account, which is the most common internet banking problem. This can lead to unauthorized and criminal transactions being conducted without the knowledge of the customer. Hence a customer who is maintaining, huge account balances will abstain from using IB so as to avoid financial risk.
1. Conceptual Background
O
ne of the most utilized models in studying information technology adoption is the Technology Acceptance Model (TAM) (Davis et al, 1989). Most of the studies are in agreement with the fact that TAM is insufficient to explain the consumer's decision to adopt Internet Banking (IB). The use of TAM in the study of IB focuses only on technological aspects but ignores other important aspects like social and psychological. Further the attributes considered in TAM revolves around only utilitarian aspects. The Diffusion of Innovation (DoI) framework suggested by Rogers (1962) incorporates the social and psychological parameters as well to explain the adoption decision. According to DoI theory, the decision to adopt an innovation depends on, among other things, the perceptions of the members of a social system regarding five specific attributes of the innovation in question, namely: Relative advantage, Compatibility, Complexity, Trialability, Observability. Relative advantage is the degree to which consumers perceive a new product or service as better than its substitutes. In the case of IB, savings of time, money and convenience have been cited as relative advantages. Trialability is the degree to which the innovation can be experimented with, on a limited basis. The extent to which various financial institutions offer “introductory� e-banking to their customers impacts the trialability and accessibility of the innovation. Compatibility is the degree to which the innovation is perceived to be consistent with existing values, past experiences and needs. Complexity is the degree to which the innovation is perceived to be difficult to understand and use. Observability is the degree to which one can see and understand the results of adopting the innovation before the full adoption. According to Rogers (1962), perceptions regarding those five attributes represent reliable predictors of innovation adoption and diffusion. Nevertheless, DoI theory has been criticized in terms of its deficiencies in explaining the effect of adopter's demography on innovation adoption. DoI theory ignores the impact of demographic differences among adopters such as age, income, gender, and education, which have all been found to have a significant influence on user adoption of technological innovations. On the basis of the literature it can be inferred that a model which incorporates demographic variables along with the five DoI attributes would offer better explanation of adoption of IB.
Inaccessibility also found as a major hurdle for adoption of IB, based on the study carried amongst non users of IB. Inaccessibility refers to no access or poor connectivity. The broadband connectivity penetration rate in India is the lowest in Asia when compared to other countries like Japan, Taiwan, Korea and Singapore. PC users in smaller cities and towns still use dial-up options to connect to the internet. Slow connectivity speeds and disruption in connectivity even with broadband often dampen the online banking experience for many customers those who are eager to use it. Prior research established that, if a customer perceives the distance to the nearest branch as long, he/she is more likely to use IB. 2. The Model From the view of literature the following variables were identified to have an influence on the customers' adoption decision of IB: Relative advantage, Compatibility, Complexity, Trialability, Observability, Age, Gender, Marital status, Income, Account balance, Distance to nearest Branch, Net access at home, Perception of connectivity problem. A logistic regression can be estimated with the dependent variable, adoption. The explanatory variables in the model and their expected direction of relationship with adoption decision were given in Table 1. The Customer's decision to use IB is hypothesized to be a function of the Five DoI variables (measured on a Seven-point Likert-type scale), five demographic characteristics (measured as dichotomous) and four general variables (three measured as dichotomous and one measured on a Seven-point Likert-type scale).The DoI variables include innovation characteristics, Relative advantage, Compatibility, Complexity, Trialability, Observability. The demographic variables include Age, Gender, Marital status and income. The general variables include Account balance, Distance of the nearest Branch from home, Net access at home (all measured as dichotomous) and perception of connectivity problem (measured on a Seven-point Likert-type scale). The model was estimated by the maximum likelihood method using SPSS 17.0 software. The
With regard to demographic variables, Age is found to have significant effect on adoption, with younger customers being more likely adopt than older ones. The previous researches on the role of gender differences on technology adoption have produced differing results. Though gender was not found in having a significant effect on adoption in general, it has been observed that, when it comes to adoption of specific computer technologies, men and women tend to have different acceptance rates. Increase in income and education is found to be positively related with the adoption of an innovation. Marital status was found to have a significant effect on adoption, with married customers is more likely to adopt IB than unmarried and single. Besides demographic variables, Risk is an important 4
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proposed empirical model can be written in the general form as follows
Compatibility, Complexity, Trialability, Observability, Age, Gender, Marital status, Income, Account balance, Distance to nearest Branch, Net access at home, Perception of connectivity problem. The logistic regression analysis with backward elimination (likelihood ratio) was carried out using SPSS 17.0. The characteristics of the sample is given in table 2
ADOPTION = f (Relative advantage, Compatibility, Complexity, Trialability, Observability, Age, Gender, Marital status, Income, Account balance, Distance to nearest Branch, Net access at home, Perception of connectivity problem) … … … … … . . . ………………………...(1) Logistic regression involves fitting an equation of the form to the data: Logit (P) = a + b1x1 + b2x2 + b3x3 + ……………..bnxn ................................................ (2) Logit (P) is the log (to base e) of the odds ratio or likelihood ratio that the dependent variable is one. In symbols it is defined as: Logit (P) = log Label
Name
Dependent variable Y Adoption Independent variables X1 Relative advantage X2
Compatibility
X3
Complexity/Simplicity
X4
Trialability
X5
Observability
X6
Age
X7 X8 X9
Gender Marital status Income
X10
Account balance
X11
Distance
X12
Net access at home
X13
connectivity problem
Item and Scale
Table II Characteristics of the sample Characteristic Male Female Greater than 50 years Less than 50 years Married Unmarried Greater than Rs.50,000 per month Less than Rs.50,000 per month Users Non-users
Gender Age Marital status
Expected sign
Income
value of 1 if a customer already uses Internet banking, zero otherwise “Internet banking is convenient” Measured on a seven-point Likert-type scale “I don’t bother to use a machine for banking transactions instead of a person” Measured on a seven-point Likert-type scale “Internet banking is easy to use” Measured on a seven-point Likert-type scale “I have the opportunity to try Internet banking services” Measured on a seven-point Likert-type scale “I have seen how others use Internet banking” Measured on a seven-point Likert-type scale value of 1 if the customer age is more than 50 years, zero otherwise value of 1 if the customer is male, zero otherwise value of 1 if the customer is married, zero otherwise value of 1 if the income is greater than Rs.50,000 pm, zero otherwise value of 1 if the customer has account balance of more than Rs,1,00,000, zero otherwise value of 1 if the customer perceives the distance as high, zero otherwise value of 1 if the customer has access to internet at home, zero otherwise “I face hiccups in the internet connectivity” Measured on a seven-point Likert-type scale
%
Internet banking +
53.5 46.5 48.9 51.1 53.9 46.1 59.6 40.4 60.3 39.7
+
The Goodness-of-fit statistics χ2 (8) =4.329, given by Hosmer and Lemeshow Test was insignificant (p>0.05) (Refer Table 4.10).This results indicate that the model was fit to the data well. In other words; the null of a good model fit to data was tenable. Further the model has accounted for 64% (according to Cox & Snell R square, Refer Table 4.10) to 87% (according to Nagelkerke R square, Refer Table 3) variance in the adoption/non-adoption of IB. The classification result shows that the model would classify the customer as user/non-user of IB with 94.7% accuracy (Refer Table 4).
+ + + _ + + + _ + +
The Final model, which was obtained after six iterations, showed that, only eight predictors out of thirteen were retained. It implies that only the retained predictors have a significant impact on the adoption of IB. The retained predictors and its significance were given in Table5. Further from the analysis, Net access availability at home, Income, Perception of the distance to the branch were found to have strongest effect on the adoption of IB. Table 3: Model fit indices
-
3 Instrument development and Data collection As a reliable sampling frame to identify sample units for the sample of IB users was not readily available, we collected data from both IB users and nonusers, using a convenient sampling approach. First, the respondents known to the authors were contacted. Then by following the snow balling technique, 643 respondents in total were invited to participate in a web survey. The number of persons responded and participated in the survey was 297, out of which 14 responses were found to be incorrect. A final sample of 283 was considered for further analysis. Table II displays the characteristics of the sample.
Hosmer and Lemeshow -2 Log likelihood Test 2
(8)=4.329, p>0.05
Cox & Snell R
Nagelkerke R
Square
Square
0.644
0.871
87.704
Table 4 Classification Table Table 4 Classification Table
Participants were asked to respond to a series of statements regarding factors associated with the diffusion of innovations, besides demographics. These statements were created using the theoretical foundations provided by the Diffusion of Innovations (Rogers, 1962) and measures found in previous research.
Predicted Observed use of IB
4. Analysis of data
use of IB 0
1
Percentage Correct
0
103
9
92.0
1
6
164
96.5
Overall Percentage
A logistic model with thirteen predictors was fitted to the data to test the relationship between the likelihood that a customer will use mobile banking and the proposed predictors: Relative advantage, 5
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Predictors
B
S.E.
Wald
df
Sig.
Exp(B)
Net access @home
2.867
.715
16.097
1
.000
17.590
Income
2.534
.630
16.182
1
.000
12.600
Distance to branch
2.237
.631
12.552
1
.000
9.364
Relative Advantage
1.146
.320
12.844
1
.000
3.144
Compatibility
1.130
.373
9.184
1
.002
3.097
Complexity/Simplicity
.817
.257
10.132
1
.001
2.263
Connectivity problem
-1.321
.387
11.684
1
.001
.267
High A/c Balance
-2.458
.638
14.859
1
.000
.086
Constant
-13.232 2.878 21.135
1
.000
.000
the final model have shown the directions of relationship as expected. The variables, Net access at home, Income, Distance to branch, Relative Advantage, Complexity or Simplicity and Compatibility were found have a positive influence on adoption of IB. At the same time the variables, Perception of connectivity problem and Maintenance of high account balance were found to have negative influence on adoption of IB. 5. Conclusion and Suggestions This study examined the consumers' adoption of Internet banking. It focused on how socio-economic, demographic characteristics and consumer perceptions of the relative advantage, compatibility, complexity/simplicity, trialability, and observability affect adoption. The results indicate that socio-economic and demographic variable have a higher impact on adoption in comparison with Innovation attributes.
In order to offer an interpretation of the logistic model we use the Exp (B). Because of the logarithmic transformation, the B (β) coefficients cannot be treated as in OLS regression. Instead, exponential B coefficients (Exp (B)), which represent the change in odds resulting from a unit change in the predictor variables, can be used to assess the impact of predictor variable.
Out of the thirteen Independent variables considered only eight variables remained significant in the final model. Among the five non significant variables three were demographic variables: Age, Gender, Marital status; the remaining two were Innovation attributes: Trialability, Observability.
The Exp (B) value associated with the variable, net access availability at home was 17.59, implies that a customer who is having net accessibility at home would be 17 times more likely to adopt IB than a customer who is not having a net accessibility at home. Similarly a customer having a monthly income of Rs.50, 000 would be more likely to use IB than a customer who is having lesser than Rs.50, 000 as monthly incomes. With regard to the innovation attributes measured on Likert scale, Exp (B) value should be inferred as a likely change in the adoption as a result of one unit change in that variable. For example, the Exp (B) for the variable, Relative advantage was 3.144. This implies that when Relative advantage was raised by one unit the odds ratio is 3 times as large and therefore customer were 3 times likely to adopt IB. Similarly one unit raise in the perception of connectivity problem reduces the likelihood of the customer's mobile phone usage by 0.27 times.
From this research it is clear that marketing campaigns which target non-users who are having net access at home, the higher income groups and staying far away from bank branches are more likely to succeed in increasing the number of internet bank users. If marketers want to increase the IB usage among the remaining segments, they can consider various other methods of connecting to an internet bank without needing to own a PC or have an internet connection by the way of offering terminals with IB services in high traffic branches and like ATMs, installing kiosks having terminals with IB services! Dr.M.Sivgnanasundaram, Assistant Professor, Kirloskar Institute of Advanced Management Studies.
Further the direction of relationship between the predictor and the dependent variable can be ascertained from the sign of B value. From Table 5, It can be understood that the predictors, remained in
"One key to successful leadership is continuous personal change. Personal change is a reflection of our inner growth and empowerment."
- Robert E. Quinn
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Voice of Customer -Prof. Bidyanand Jha
“
Before the Industrial Revolution, most businesses in India were sole proprietorships or small family run businesses. In those days every member of the business was in direct contact with customers and had the opportunity to passively or actively hear the voice of customer”
managed research panel. In this scenario the customer research department in the organization can manage access to an opted-in sample of customers, allowing internal constituents from anywhere in the organization to “Purchase” a percentage of focus group. Therefore, no single group has to bear the cost or burden of organizing the focus group, but instead they can access customer to ask their specific queries as a portion of the focus group in overall session. In this way the groups are disparate to user documentation, branding and warranty service can seek to understand and ultimately improve their contribution to the overall quality to the product or service. But, will this by itself lead to innovation?
The voice of the customer tells us what characteristics of our product or services that customers find valuable and what they find unworthy or not of much value. Most companies, by focusing upon the valuable traits of business and also rectifying the non valuable traits of the business, manage and gain financial freedom and customer loyalty.
As the innovation velocity of an organization becomes a crucial competitive differentiator in the global market place, it is mandatory that innovation becomes every one's responsibility in the organization. In order to innovate the reliably happening at every level of organization, it will be extremely useful to all members of the organization to have access to the voice of customer. Making customer feedback available to all may include making focus group recordings and survey results available to all employees, or those who register their interest. Having access to voice of customer at all levels will enhance and give more focused approach towards an innovative project ideas and supportive justification. But will this by itself lead to better products and services?
In today's interconnected world, we are in the midst of customer revolution. Today's Customer has unparalleled access to pricing and product information to enable a more informed and economic purchase decision. Today's customer benefits from marketing developments such as Mass Customization, Mass Personalization and Micro Segmentation. In addition, they have unrivalled access to communication channels to make their preferences known. But, who is really listening? We live in the world of corporations and conglomerates, where most of the employee class has no direct access to the voice of customer. The person stitching your clothing has no idea whether the stitching method worked well for you, or if you are happy with the product. They only know whether or not they have met their daily quota and how much the quality control failed. If the person stitching your Clothing had access to voice of customer, would they do their job differently? Would they find anything different about their job?
Making the voice of customer more widely available is not the only result in new product or service ideas, but can also spur innovative ideas about how an organization can operate more efficiently. Inaddition it has the potential to create a more customer- centric organization to increase employee mobility inside the organization and make it easier for all parts of organization to communicate. So, why aren't the organizations doing this? Some organizations may hesitate to share this information because of perceived risk of leaking to Competitors, but the incremental risk is minimal. Marketing people look for the competition all the time, and competitors have the ability to research customer perception of your product as if it's their own. Organization has so much to gain by granting access to the voice of customer to all employees ---- and so little to lose. So what are you waiting for?!
In most of the present companies, the job of listening to the customer falls to someone in Marketing Department, possibly on someone who does nothing, but focuses on brand and customer research. This person usually works with product management and possibly 'research and development' to inform product revisions and new product development. Often, very few people in that core team in this department have access to voice of customer. But why restrict customer feedback to select few?
-Prof. Bidyanand Jha, Senior lecturer, Kirloskar Institute of Advanced Management Studies.
While it may be important to control the access to the customer in order to avoid inappropriate contact, restricting access can stifle innovation and success. One way to control access is to implement a
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Consumer Perception & Retailer Effect on MNP -Mr. Rajesh Kumar, Mr. Saket Kr. Singh & Ms. Shikha Gupta
-To know the reason why the consumers are switching from one operator to another operator. -To understand the influencing factor for a retailer -To know the strategies the telecommunication brands are using to influence the retailer.
Introduction
M
obile Number Portability (MNP) - It is a service which allows users to change their existing service provider without changing their mobile numbers. It means that numbers are portable from one operator to another.
Brief about the industry In India, the organization has divided itself into 22 circles, with each circle acting like an SBU. Although some circles which are emerging or have a slow growth rate are managed and controlled centrally. Each circle is divided into 3 or more zones depending on
Initially due to the trouble of changing number, users were reluctant to change their existing service provider and despite of unsatisfying services, they were forced to stay with their existing service provider or change their number. This research helps us to know · Expectations of users from operators · Service delivered by operators · Gap in expected and delivered service · Willingness of user to avail the Mobile Number Portability service · Influence of retailers for Mobile Number portability
Highest Gaining Circles Circle Port in Maharashtra 194493 Tamil Nadu 100323 Madhya Pradesh 166551 Karnataka 149799 Andhra Pradesh 121280
This research has been divided into two parts which has been integrated later on. This research has been conducted in the district of Davangere (Karnataka). This is a primary research with a sample size of 400. The first and the second part focuses on users and retailers respectively. For both, users as well as retailers, the sample has been chosen from all the six talukas namely Davangere, Honnali, Harihar, Channagiri, Jagalur and Haranapanahali by the method of stratified sampling.
Port out 93417 8167 76055 62874 55194
Net 101076 92156 90496 86925 66086
Top Gainers
Objectives of the Study The project is aimed at understanding the perception of users towards Mobile Number Portability. Also the influencing factors for users in the process of availing the service of Mobile Number Portability and suggesting on how to bring up the best feasible service and engaging the retailers so as to grow their subscriber base.
Port out
PO/PI ratio 714570 0.58
Operators
Port in
Net
Idea
1693351 978781
Vodafone
1984310 1297940 686370 0.65
Airtel
2123670 1490988 632682 0.7
the population, i.e., each zone should have a population coverage of around 15-20 lakhs as per the company norms. The circle head is the COO or the Business Head to which all the vertical heads report to. At the zonal level, the zonal manager is responsible for managing the zone and has one representative from each vertical reporting to him.
The above objective has been designed to help the company gain valuable insights and ideas about the perception of customers as well as the perception and role of retailers for the process of Mobile Number Portability.
Methodology followed
For customers-The reason they went for the existing service provider. -The gap between the performance expected by a customer and the performance given by an existing service provider. -The reason for switching from an existing telecommunication service provider. -The reason for opting to a new particular telecommunication service provider. -Decision influencers.
Airtel wants to know that why customers mainly in Chenigiri Taluk, Honalli Taluk and Harihar Taluk are surprisingly switching from Airtel to Idea or others.
For Retailers
Research Method- We will use primary as well as secondary data for
The type of Research we are conducting is: · Descriptive Research (Cross-sectional Design) · Causal Research
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this research. 路 Primary- Users (280), retailers (120) The primary data will be collected by survey in person. 路 Secondary- Published sources, internet and Telecommunication companies. There are six Talukas in Davangere district. There were over 1.25 lakh cell phone subscribers in the district and over 75,000 new ones were expected to avail themselves of cell phone services in the next two months. Sample Size: Sample size calculation when estimating proportions Taking response distribution as 50%, which gives the largest sample size, confidence level is 90% (z is 1.67) and margin of error is 5% we use formula as:N= za/22 x pq/E2= (1.67)2x (0.5x0.5)/ (0.05)2=278.89 Rounding off, the sample size calculated is 280
Call rates, Internet Access and Tariffs are three aspects which customers do not rate well. And these attributes may be the reason for dissatisfaction of customers. In case of more than one SIM If the need is not fulfilled by their existing service provider people usually keep more than one SIM. Based on their usage, customers chose different SIMs.
Sampling plan for Retailers: Sample size calculation when estimating proportions Taking response distribution as 50%, which gives the largest sample size, the confidence level is 80% (z is 1.29) and margin of error is 6% we use formula as:N= za/22 x pq/E2= (1.29)2x (0.5x0.5)/ (0.06)2=115.6 Rounding off, the sample size calculated is 120
Airtel as Primary SIM -With Airtel, the highest number of times people have used IDEA followed by Tata DoCoMo, Vodafone, Airtel and BSNL as their secondary SIM.
Tabulation and findings / results Tabulation and the findings have been put across in a manner that firstly the overall picture has been depicted and later on it has been analyzed, taluka-wise as well as telecom operator-wise. Certain matrices has been used which are as age, gender and occupation.
-Out of 280 people, 186 were already aware about the service of Mobile Number Portability.
Statistics of SIM used by Sample population:
The number of people who switched or wanted to switch Out of 280 consumers, 97 were either switched or are willing to go for the service of Mobile Number portability and 183 people were either satisfied or not willing to go for Mobile Number Portability.
The overall distribution of SIMs used by the 280 sample population: Total numbers of sample population taken for consumer were 280. Out of total, the different SIMs used by them is shown below. Out of all operators, Airtel is number 1 in terms of its subscriber base in taken sample population followed by IDEA, Tata DoCoMo, Vodafone and others.
The Telecom Brands to which people moved or wanted to moveBy the research conducted, it is clear that the maximum number of people in sample has switched or willing to switch to Vodafone (31) followed by Airtel (14), IDEA (12), and Tata DoCoMo (9) and others. The Telecom Brands from which people wanted to switch Out of the total sample population who have switched or are willing to switch, 32 people have switched from Airtel, 15 from IDEA, 13
Feedback for the existing service providerAirtel It is clear from the graph below that as far as network (N/w) and customer care service (CCS) is concerned, Airtel don't have to worry and customers perceive it good and because of these attributes, customers prefer this.
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from Tata DoCoMo, 9 from Vodafone and 28 from other telecom brands. Number of people who switched or wanted to switch from Airtel to others
Comparison of attributes of Airtel with Tata DoCoMo Out of total 32 people who switched or want to switch from Airtel, 16 prefer to go to Vodafone, 8 to IDEA, 7 to Tata DoCoMo and there was one customer who wanted to switch but he is not sure of his new telecom brand he will switch into. Number of people switched or wanted to switch to Airtel
Internet Access (IA) and Easily Availability of Recharge (EAR) are the two attributes in which Airtel is better than Tata DoCoMo, but for attributes like Call Rates (CR) and Tariffs, customers rates Tata DoCoMo higher than Airtel. Note- Customer Care Service (CCS) is rated nearly equal by customers in both of the operators.
Out of 14, who had switched or wanted to switch into Airtel, 7 of them initially belonged to IDEA, 5 to Tata DoCoMo and 2 to others. Taluka-wise feedback of Network of Operators
Comparison of attributes of Airtel with Idea
For Airtel, network in Harihar and Honnali are good as compared to its competitors as the gap is more but in Davangere, Jaglur, Channagiri and Haranapanahalli, the gap is very less so there is a bit dissatisfaction as far as network is concerned.
Customers have rated Call Rates (CR) and Tariffs of IDEA higher than that of AIRTEL whereas Internet Access (IA) and Easy Availability of Recharge of Airtel have been rated higher than IDEA.
Comparison of attributes of Airtel with Vodafone Almost in every attribute, the Vodafone is giving a tough competition to Airtel. As far as Call Rates, Internet Access and Tariffs are concerned, Airtel lags behind the Vodafone. People find Airtel better in Customer Care Service (CCS) and Easy Availability of Recharge (EAR).
Note- Customer Care Service (CCS) has been rated nearly equal for both the operators. It can be concluded that Call Rates (CR) and Tariffs are the two attributes for which the Airtel is lagging behind all the top players. These attributes are the major factors due to which customers are switching from Airtel to various other top players.
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-Customer Care Service (CCS), Easy Availability of Recharge (EAR) and Internet Access (IA) are the three attributes for which Airtel need not worry and customers find it better in comparison to other top players.
The telecommunication brand that leads in providing the highest profit margin is Vodafone followed by Airtel, Idea and Tata DoCoMo. The other brands were BSNL, Reliance Communication and Aircel.
Effect of Retailers According to our assumption, retailers play a very important role in influencing consumers to opt for a service provider and so along with consumers, we also tried understanding the impact of retailers on the decision process of customers.
Ranking for MNP SIM Placement The SIM placement service for different telecommunication brand may differ in different talukas based on the location and distributor. So, after understanding the overall performance of SIM placement a taluka wise analysis is also done. The result of the analysis is as follows:
Most of the times, customers are not predetermined about the new SIM they are going to switch into and here retailers come into the picture. Retailers suggest MNP SIM on various criteria some of them are listed below · · · · ·
Relationship with Distributor Margin, they get on each MNP SIM from different service operator Retailer knowledge made available by operators On The Fly (OTF) SIM placement efficiency of distributor (i.e. timely availability of SIM to retailer) etc.
There are a total of about 1400 retailers in Davangere district and out of total we collected responses from 120 retailers. MNP retailer Overall - Ranking for MNP SIM placement
In Harihar and Davangere Vodafone is the best performer, in Honnali and Channagiri it is Idea and Airtel respectively. But in Jagalur and Haranapanahalli, though the brands known to provide good SIM placement are Idea and Airtel but still none of these two stand that distinctly. Interestingly in Haranapanahall, most of the retailers are not sure about the SIM placement service of brands. Predetermined customers for the new service provider
When asked to the retailer about the SIM placement of different telecommunication brands, the brand that leads is Airtel and Vodafone followed by Idea and Tata DoCoMo. There were other brands like Uninor, Aircel, BSNL and Reliance Communication. Some retailers were not sure and so did not comment. Ranking for profit margin given by the service providers
As per the retailers surveyed, out of every 10 customers 5 customers are predetermined about which telecommunication brand SIM to buy. The remaining 5 gives the retailer the power to motivate them to buy a SIM of the retailer's choice. Here the retailer gets an opportunity to sell SIM in which he gets better margin.
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Influencing factor for the customer as per the retailer
As from the stated diagram it is clear that the foremost important priority for retailer is “commission” which they received by doing MNP conversion. OTF and knowledge about the various offers are next in the priority list of retailer as both are equally preferred. From the above analysis it can be analyzed that the retailers play a very important role in influencing the consumers. It is observed that the top four players in the market i.e. Airtel, Vodafone, Idea and Tata DoCoMo also acquire the top four positions in SIM placement and profit margin as per the retailers. The time invested by the retailers per customer is approximately 7 minutes which essentially includes 50% of the undetermined customers. Investing this amount of time on the consumers, the retailers try to get maximum margin for which they influence the consumers thus prioritizing commission. The pre-determined consumers are influenced the most by advertisement which tough the emotions of people along with the word of mouth of others which is the experience followed by retailer who is a very reliable source for the consumers. The reason for this reliability is that the consumers believe that the retailer is aware of most of the service provider and is very experienced but most of the consumers are unaware of the commission and other factors which motivates the retailer to suggest a particular service provider.
As per the retailer, a customer gets influenced by a number of factors which includes advertisement (via television, newspaper, posters, radio, pamphlet etc.), friends, relatives, retailer etc. It is not surprising to see that the number of customers motivated or influenced to buy a SIM of a particular telecommunication brand is through advertisement because today it is one of the strongest medium. Advertisement not only provides information but also tries to create an emotional bonding between the brands and the viewers. The second influencing factor is word of mouth which can only have an impact if it comes from a reliable source like friends, relatives and retailers. Interestingly according to some retailers, it was observed that there was a chunk of customers who never know why they want to go for a particular brand but still they opt for it. They come in the category of “don't know”.
According to our research the most preferred service provider for consumers as well as retailers are Airtel. As per the latest data of TRAI, out of 8.5 million users who have shifted their loyalties from their respective service providers, the maximum port-out on the base of 100 customers is IDEA (57), Vodafone (66) and Airtel (71).
Average time to influence per customer The average time spent in influencing the customer regarding MNP is approximately 7 minutes. Investing this much time, the expectation of a retailer is higher rate of conversions and maximum profit. These intentions of retailers lead to sell more of the SIMs which gives better margin. So it is clearly understood that they prefer to sell those service provider's SIM who provide higher commission with respect to others.
Call Rates and Tariffs are the major dissatisfactory attributes of Airtel because of which customers are willing to switch from Airtel to other telecommunication service provider. It has been observed that most of the customers are willing to switch to Vodafone. Consumers find Call Rates and Tariffs of Vodafone attractive in comparison to Airtel. Out of the total, 23% of the retailers prefer each Airtel and Vodafone for SIM placement. When asked their preference for profit margin, 24% of the retailers voted Vodafone followed by 21% for Airtel. The research revealed that Airtel faces and will face a very strong competition from Vodafone and IDEA in terms of retailer relationship and attributes like tariff and call rates!
Priority for a retailer while selling a SIM
-Mr. Rajesh Kumar, Mr. Saket Kr. Singh, Miss Shikha Gupta , PGDM II, KIAMS, Harihar Campus.
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FDI: An Analysis -Mr. Aadil Ahmed, Mr. Rajesh Singh, Mr. Abhishek Sharma & Ms. Shikha Gupta
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he Indian retail sector is ranked as one of the world's most exciting retail destinations. It comprises of 13% GDP and employs 6% of the nation's workforce. The organised sector in India is only 6 to 8 percent and a high growth is witnessed in this sector. According to the consulting firm A T Kearney, the total retail sector in India is of $450 billion out of which 80% is run by small shops or kiranas. In India, the FDI on Cash and Carry is 100% and that on Single Brand Retailing is 51%. Now government is planning to introduce Multi Brand Retailing which has become a threat for the major players of Indian retail market i.e. the kirana stores.
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Franchise Agreement- Example- pizza hut, McDonald etc.
! Cash And Carry Wholesale Trading- for this format, 100% FDI is allowed. The wholesalers deal with small retailers and not with consumers directly. Example- Metro AG etc. ! Strategic Licensing Agreements- Example- Mango (Spanish brand) agreement with Radhakrishna Foodlands Pvt. Ltd. ! Manufacturing and Wholly Owned Subsidiaries- In this format, companies having fully owned subsidiaries in manufacturing are treated as Indian company and they were allowed for retailing. Example- Bata India, Nike India Pvt. Limited etc.
In July 2010, Ministry of Commerce circulated a discussion paper on allowing FDI in multi retail and since then this topic has been discussed repetitively. Discussions include the points such as:-
Expected impact of FDI in multi retail! ! ! ! ! ! ! !
The readiness of Indian retail industry for FDI. The effect of FDI in multi retail on Indian economy. The effect of FDI in multi retail on unorganized retail sector which constitute 94% of the Indian retail industry. The loss of job because of entering of retail giants in India. The advantages of allowing FDI in multi retail in India. The fear of monopolistic practices by foreign retail giants in India. The effect of FDI multi retail in other countries whose economy is similar to ours. Regulatory practises of Government for further resolution of conflicts and unfair trade practises.
With all its regulatory frame work and minimum cap set for multi retail brand, it appears to be very lucrative for Indian economy but there are many points which our Government is overlooking. Here are the probable benefits and the disadvantages of FDI in multi retail in India. With the growth of the modern trade will benefit different group of people in different ways. The benefits are: !
Most of the discussion draws attention saying that as we all know that the contribution of organized retail sector is only 6-8 percent (as per CII report) till now so rather than allowing FDI in multi retail, we should allow our organized sector to mature.
! ! ! ! ! !
Despite all this, FDI will allow the flow of capital for development of basic infrastructure and this will improve the logistic and supply chain management of the country and hence it will reduce the wastage of agricultural products too. Though India is the second largest producer of fruits and vegetables, it has a very limited integrated cold-chain infrastructure, with 5386 stand alone cold storage. Around 30 to 40% of total agricultural goods produced in India, 30-40% doesn't reach to consumer ever and get wasted due to improper storage facilities and inefficient logistics. It has been observed that Indian farmers realize only 1/3rd of the total price paid by the final consumer, as against 2/3rd by farmers in nations with a higher share of organized retail. FDI in multi retail will be very beneficial for farmers also; they can sell their products directly to retailers. This will ensure a fair pricing for their products and elimination of intermediaries will ensure them improved margins too.
The wastage across the farm-to-fork supply chain will be reduced India can strengthen itself as a sourcing hub to the world Increased employment Increase in the lifestyle parity Increased choice and variety of products Better technology investment and best practices transfer Improve the infrastructure
The benefits of modern retail will extend to: ! Government ! Consumers ! Unorganised trade participants ! Producers/Farmers Government will be able to collect taxes easily as the modern trade players are tax compliant. The development of the organised support mechanism required by large retailers for their operations, like logistics, transportation and warehousing will generate more revenues for the government in the form of service tax. Consumers will have a wide range of choices: ! Availability of choices of products and services will be more ! Prices will be rational ! Better quality of products ! The lifestyle of different countries will be equalised ! It will bring the zero tolerance policy as the consumer will never want to pay for substandard products and inefficiencies
Jan 24, 2006, was the date when Indian Government allowed FDI up to 51%. Prior to this, some of the options which foreign players used are:-
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Kiranas can exist and explore partnership model in a rapidly changing retail environment. The modern traders will find it hard to understand the consumer behaviour. Their daily top-up needs for food and grocery items will be fulfilled by the unorganised retail sector Farmers can have an integrated supply chain and they can even explore partnership models for future benefits. This can minimize wastage which is one of the major issue, will encourage best practices in crop management; will maximize value for the stakeholders as the product will directly go to the retailer. Studies suggest that for every 50,000 sq ft developed, direct employment is created for 200 people. A McKinsey Report on 'Indian Growth' projects an addition of 71 lakhs jobs in the retail sector between 2000 to 2010 with the modern format retailers (e.g. supermarkets) accounting for 8 lakhs jobs. However, the projection is based upon a projected 10% GDP growth for the 10year period and assumes a 20% market share for the modern format retailers. In regard to this statement the average GDP from 2004 to 2011 is 8.43% and the market share for the modern format retailers is only 6 to 8 percent so the projected job formation is clearly and overstated statement. According to PWC-CII paper this is serious threat to livelihood of 12 million kirana stores and for middleman and traders the situation is even worse than retailers as it has been observed that with shifting of unorganized retail to organized retail the number of middleman is eliminated. Because the big retailers purchase in bulk so they enjoy greater buyers bargaining power and they have economy of scale so they can manage to sell their products much cheaper in comparison to kiranas. If it is not regulated well, there will always be a fear of creation of monopoly. Market will be flooded with all sorts of cheap foreign products competing with the domestic products. This may result in shutting down of many small manufacturing plants. Indian Consumer Behaviour When it comes to retail, there are many assumptions related with the Indian customers' perceptions. Although, some of them are correct, the others have been found to be false through research. Low Competition: ! Very less density of significant competition in Indian retail ! Competition comparatively lesser in Metropolitan cities ! Higher in smaller cities ! Geographically fragmented competition for retail stores
Non workers: ! Households with more non workers spend relatively more time in shopping for best price and deals ! Non workers per household in a city can be used to project shopping time opportunity cost of households ! Cities with more population of non-workers have relatively more competition between retail chains ! Non workers in India declining with the economic boom ! Decline can result in decline of competition (assuming no other compensating factors) Spending Habits: ! Cautious spenders ! 65% put spare cash into savings ! 33% spend spare cash on new technology products ! 30% pay off debts/ credit card loans ! 32% on home improvements/ decorating ! 31% on new clothes ! 31% on holiday/ vacations ! Quarter on retirement funds and 2 out of 10 on out o f h o m e entertainment
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Consumer needs: ! High degree of value orientation Luxury brands also need unique pricing strategies ! High degree of family orientation ! Associated with values of care, nurturing and affection Products communicated through feelings and emotions are well received Role of history and tradition on Indian consumer behaviour Traditional products alongside modern products For example, hair oils and tooth powder alongside shampoo and toothpaste Aware consumers selective of quality of products and services Seek more reliable purchase sources Choose modern outlets on basis of factors like better product quality, lower prices, one stop shopping, variety, shopping experience and fresh prospects Select traditional outlets because of proximity, goodwill, credit availability, bargaining, loose items, convenient timings, home delivery etc In consumer durables, brands are related with good quality and good after-sales services. In footwear, apparel and handbags, branded products are chosen for design, comfort, durability and quality while non-branded products are cheaper, and can be customised. In jewellery, traditional retailers are preferred due to trust and interpersonal relationships, flexibility of exchanging old jewellery The Chanakya, Nov 2011
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for new ones and customised designs. Consumers consider jewellery sold by corporate retailers to be of better quality. ! Non-branded products are preferred in fresh food, costume jewellery and furniture. ! Knowledge and use of luxury brands in India are low ! Rich Indian consumers are price sensitive ! Modern retail outlets are preferred for more durable goods purchases, while neighbourhood kiranas or traditional retailers are preferred when shopping for more frequently purchased products such as fresh fruits and vegetables. ! Consumers continue to buy food products and FMCG products from small retailers while for categories like jewellery, apparel, footwear and accessories, corporate retailers are becoming popular. ! For categories like apparel, both small and corporate retailers are popular. ! Brand consciousness is increasing but varies across different product categories ! Customer brand loyalty is low. It varies across product category, gender, etc. ! Modern retailers cater to a small segment of the Indian population.
Carrefour, etc., started their operation in Thailand, the local retailer had to draw down their shutters, unable to compete with global firms in an unequal fight. Further under the criticism of local retailer, in 2002, Government announced to bring the 'Retail Business Act' and also announced the intentions to control the foreign retailer by imposing zoning policy regulations. However under the pressure of European Union, the Thai government had to reverse its decision. In the short run the entry of foreign player adversely impacted all the segmentswholesalers, manufacturers and domestic retailers. However, in the long, TBH 100 million carried by each foreign player in Thailand for opening each outlet, encouraged the growth of agro-food processing industry and enhanced the exports of the Thai made goods. FDI in China China also permitted FDI in retailing up to 49% for the first time in 1992 and restricted it to six provinces. Seeing the economic scenario around the globe, China lifted the restriction in 2004 with no equity restrictions since then. Thus China's retail and wholesale trade has witnessed impressive growth in foreign direct investment, among others. Also in China, the employment in both retail and wholesale trade increased from 4% in 11992 to about 7 % in 2001 post the opening up of market.
FDI in Argentina Like India, Argentina is essentially a food producing and exporting country. In 2001, Argentina experienced one of the worst economic crises in its recent history. 2002 saw the economy shrink by 10.9%, with inflation hitting a peak of 40.9% according to official statistics of Argentina. The Argentina retail and real estate industries are subjected to extensive building and zoning regulations by various federal, states and municipal authorities. In Argentina major retail players are Cencosud, Carrefour, Coto, Wal-mart Fravega etc. FDI in retail sector has drastically improved the Vendor Management Inventory and also it uses techniques like RFID to track the products moving. Despite of major foreign player in Argentina, in last 3 years, the convenient grocery shop has risen in number drastically. It is important to point out that, with the exception of very few jurisdictions, retailers are allowed to operate sores/shopping malls 365 days, including national holidays. Argentina has witnessed a well synchronization between its domestic and foreign retailers FDI in Thailand Not always the history has witnessed the benefits of FDI in multi retail but also the side-effects. In an economy like Thailand which is very similar to India, FDI was allowed in 1980s. Even before the GATS negotiation process was started, the Thai government liberalized its trading. It is a notable point that traditional traders had controlled 74% of the retail market in 1997, but by 2002, their share came down to 60%. As soon as European giants Tesco,
Overall, the regulatory pot for FDI in multi-brand retail is still boiling. In fact, in a global marketplace where purse strings are possibly going to get tightened once again, just the opposite may be argued. Hence, it is hoped that the government will move steadily and certainly towards not just opening up multi-brand retail to foreign players as a matter of letter but also create a regulatory environment that appears investor friendly! -Mr. Aadil Ahmed, Mr. Abhishek Sharma, Mr. Rajesh Singh, Ms. Shikha Gupta, PGDM II, KIAMS (Harihar Campus).
References: http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=458 1 http://crisil.com http://barandbench.com/brief/3/1702/fdi-in-multi-brand-retailnecessary-and-not-evilwww.in.kpmg.com_TL_Files_Pictures_Indian_Retail_Mar09 www.pwc.com_en_GX_gx_retail-consumer_pdf_argentina http://www.enterprisesurveys.org/ResearchPapers/Consumer_behavi or_Indian_retailing.aspx http://in.nielsen.com/news/20100107.shtml http://www.rediff.com/money/2007/feb/20guest1.htm http://www.thehindubusinessline.in/catalyst/2004/01/08/stories/2004 010800090300.htm
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Tradigital Marketing : An Overview -Sidharth Mishra
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arketing was born the moment man started depending on others for his needs. There was a time when he was a Prosumer (term coined by Alvin Toffler), the producer as well as the consumer. He grew his own food, sew his own clothes and constructed his own shelter. But gradually, as his needs increased, he realized that producing each and everything was impractical. He wanted more time for himself and his family. He went in search of people who were ready to directly address his demands. Thus started the very first chain of what we know today as Demand and Supply. This proved to be the genesis of the first markets.
survival of the fittest. Today, this competition has become even more fierce and aggressive. New methods of marketing are being tried incessantly. The confluence of Traditional and Digital Marketing gave birth to a new phenomenon called Tradigital Marketing. Actually this new type of marketing is undoubtedly one of the most critical components of the marketing mix. In fact, a product needs to have a singular, well-articulated idea of marketing what it stands for, across all media including television, internet and radio etc. and this is exactly what Tradigital Marketing does to a brand.
People started meeting regularly with things they had produced, to exchange them with things other people had produced. Now he had access to a much greater variety of products and services than when he used to provide for himself. Now let us have a look at the definition of Economy for a moment. An Economy is defined as “the system of exchange of goods and services between producers and consumers.” Were those markets a part of an economy then? To some extent, yes. There was just a little difference though. Real economies cannot exist for long without competition and the first markets hardly saw any action. This was due to the fact that these were local markets and they serviced the demands of the local population only. But as soon as man started travelling which he eventually had to, since he had used up resources at one place, the picture started to change. Markets started to grow and with that, competition came into the equation.
The evolution of digital marketing has forever changed the way marketers have to think about how to build and manage a brand. No longer a “behind the scenes” function, marketers are now one of the most critical and visible functions of a successful organization. With responsibility for both traditional and digital marketing channels, an effective marketer must be a strategist, writer, online guru, relationship builder, executer and more. When connected effectively, traditional and digital marketing tactics offer immense opportunities to build market recognition, increase brand awareness and provide the foundation for strong and sustainable growth. For example, a traditional website may be interactive and technology dependent, but doesn't allow for user participation, feedback mechanisms reviews etc. Engagement can be increased through tactics such as interactive games or even a rich user experience, but there are no social components. Search methodologies are limited to things such as keyword, search optimization etc. Social engagement is created when design for participation is the primary strategy for the associated initiatives. Tactics can range from the simple to complex, but is primarily tasked with facilitating interactions from participant-to-participant to organization-to-participant(s) and vice versa.
The producers, who used to sell their goods in a blink of an eye, now had to fight tooth and nail to sell their wares. They could not produce goods of better quality since Industrial Revolution was yet to happen. All they could do was show their presence and worth to the consumer. Thus, the need for Advertising was felt for the first time. According to Alvin Toffler, the whole of human history can be divided into three waves –the agricultural wave, the industrial wave and the information wave. In the first wave, as we saw above, it was all about reaching the consumer before others. The quality of goods was not an option. He had to buy what he got. The second wave brought quality to the goods. Now producers had to guarantee quality to their customers. Reach took the backseat since everything was being mass-produced and producers almost always had surplus goods.
Thus, it has become imperative for innovative ideas to be experimented and implemented, if found plausible in the market. Core competencies (term coined by C. K. Prahalad) is increasingly becoming extinct and the only feature that is providing advantage to a company is not its product, not its Core Competency, not even its Unique selling Proposition but the way it communicates with its end customers!
The advent of the Information Age morphed the face of the market like never before. Information travelled blazingly fast. Now reaching the customer at the precise time became extremely crucial. Companies came and went every other day. It became a race for the
-Sidharth Mishra, MBA-TM (Systems & Finance), SITM (Pune).
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Impact Interview Mr. Vikas Sankalp left his studies after 10th standard and started the “Sankalp Group” in order to bring a significant change in the society. In this Interview with Mr. Sankalp, we talk about the various initiatives he undertook and also the challenges he faced in order to bring those changes.
Kindly tell us something about yourself and your childhood. I am Vikas Sankalp Sambhav Bhramjyoti. I was born in January'83, at Aurangabad, Bihar. I live with my parents, brothers and sister. I studied in Himalayan public school, Patna.
environment, organic farming, bringing back the old ethnic Indian culture and issues regarding child labour. We make various documentaries regarding issues that need to be monitored and send them to respective authorities. This will give them a brief idea about the problems faced by people in the under-developed areas and they can take steps for the same.
What influenced you to choose this path of social welfare? What are the various activities undertaken by Sankalp group? My birth and family characteristics played a huge role, influencing me. Thus I had an inclination for social service as a child. I used to observe people around me all the time. I knew that a change was required. Late principal of my school Mr. S.K.Sinha motivated me further. What were the initial steps you took towards the development of society? In sixth standard, I gathered a group of my friends and motivated them into doing something new to society. We made humble contributions in cleaning the surroundings. From then, I saw that people when motivated would play an active role towards the society. Gradually more and more people joined me in this initiative. Now we are about 500 people working for the betterment of the society as a part of the Sankalp Group. Can you tell us in brief about this society, Sankalp Group? Modernization has brought about many changes in our society, so we intend to bring about awareness regarding cleansing the
Basically we have five foundations working under this group. “Bhrahmjyoti Productions” is our cinema sector. This focuses on taking documentaries regarding environment, child labour and many other inspirational videos. “Agroworld Chemicals” spreads awareness to the farmers regarding those chemicals which spoil the crops. They educate farmers on organic farming techniques like Vermipost. The art and cultural foundation is “Deepjyothi Sanskritic Kalagriha”. They organize various art and cultural plays in Patna and other districts so that people can realize how far we are moving away from our past traditions. This foundation also conducts various painting competitions with themes that reflect Indian culture. They also have a team of poets and writers who inspire enthusiasm in people. “Briksh Foundation” is where our members get together with school students to inspire them into shaping the society. Students in turn join us in spreading awareness. The enthusiasm shown by younger generation is amazing. Our “Jhyomila Foundation” focuses on bringing back the old Gurukul systems and thus educating school children, our old customs like Yoga and Ayurveda.
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We sincerely appreciate these efforts. What challenges did you face when you were taking up and implementing these initiatives? Honestly speaking, when I was at school, people thought I was mad. But I should mention that, some of those people who called me mad then are part of this foundation and are now actively engaged in promoting it. I consider that as one of my biggest achievements till yet. Initially my family refused to cooperate. But I persisted and stayed determined. I always wanted to bring a change. I was keen that I would dedicate myself to serving the society. I also gave up my family name and changed it to Vikas Sankalp Sambhav Bhrahmajyothi. Sankalp means determination. What are the sources for your funds? There are genuine and willing people who donate generously to encourage these initiatives. We mostly receive funds as donations from private sector. Are you satisfied with your success, what would you consider to be your biggest achievement yet?
make them realize the importance of our principles. Thus I would consider changing people and motivating them as my biggest success. What are your future plans? Where would you like to take this foundation from here? We are striving to develop and promote our foundation. Our mission is to spread it around the globe, to the 193 countries. We already established some connections in Saudi Arabia. We may go ahead from there. Is today's youth enthusiastic to take up these roles? What message would you convey? I am confident that youth would take this ahead. Out of the 100% time they have, 90% goes in personal development, so other ten percent should be spent for society development. That would really have a very strong impact on today's society and also we can deliver a better society for the future generations. It was a great experience having this conversation with you; we wish all the very best in your initiatives on behalf of KIAMS. We promise you that we would contribute our level best to the society. Thank you!
I am fully satisfied with my success. I started these initiatives alone but now we are an organization of 500 people or more. All these people are dedicated to serve the society to their fullest. We are ever expanding and would continue to change people and
As told to Ms. Ekta Maheshwari & Mr. Siddhartha.S Modukuri, PGDM I, KIAMS (Harihar Campus).
"Never Doubt that a small group of COMMITTED people cannot CHANGE THE WORLD, Indeed it is the only thing that ever has!!!" -Margaret Mead
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The Monk Who Left India To Make iProducts Steve Jobs (1955-2011) Mr. Bharat Gilda & Mr. Bharat Malik
The world bid adieu to one of the world's greatest entrepreneurs on 5th October'11, the only person we know who had started three companies, all of them having multibillion-dollar market value and all changing the world in their own way.
Business acumen: He was a showman who amazed the world every time he came up to present a new product, be it in January 1984, wearing suit and striped tie, a beaming Steve jobs introduced to an audience of 3000 people the Macintosh as “father”.
The man who gave the world, 'the point and click Mac', when PC was using a DOS prompt. The man who transformed the worlds of personal computing, music and mobile phones, Steve Jobs passed away at the age of 56 after a long battle with pancreatic cancer.
The showmanship was repeated at regular intervals in the later years when he rejoined Apple Inc. as the CEO. Jobs enthralled the world from his initial stages of career, ever since he built Next computers and sold Pixar animation to Walt Disney and in 1998 launched iMac, in 2007 launched iPhone, in 2010 the revolutionary iPad.
His death sparked an immediate outpour of grief messages across social websites. This Silicon Valley icon gave the world the iPod, the iPad and the iPhone.
Even when away from Apple, at Pixar or Next, Steve's commitment towards developing business and innovating new ideas and products was never a difficult job. He was never a technology geek, he was more of an innovator and the success of “TOY STORY” speaks volumes about how he could create anything from nothing and now has left behind a company which only he could have built.
iPersonal: !
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Jobs' biological mother Joanne Simpson was a young, unwed college graduate, who decided to put him up for adoption. But when she found out that Jobs' new parents were college and high-school dropouts -Paul Jobs and his wife, she initially refused to sign the papers and gave in only after the latter promised to send him to college when he grew up.
His childlike enthusiasm and sincere passion for the product he was unveiling combined with a gentle sense of humor (calling up a Starbucks outlet to order 4,000 coffees during the iPhone unveiling is just one such example) left novices in technology and captivated us to him and the products.
He graduated from Homestead High School in Cupertino in 1972 and went on to attend Reed College in Portland, Oregon only to drop out after one semester. He hung around the campus and lived a life of struggle and learnt Calligraphy. He used to visit Hare Krishna temple to have a good weekly meal. Jobs sold his Volkswagen micro-bus and his partner, Apple's cofounder; Steve Wozniak sold his Hewlett-Packard scientific calculator to raise $1300 for starting their new venture and setting up of production lines. Jobs was on a spiritual quest to India, before co-founding Apple and was an abiding Buddhist. Jobs married Laurene Powell in March 1991.
Steve Jobs for admirers like us was not particularly a geeky inventor but the role model who gave aesthetic products. Under his tenure, Apple was the only company that challenged Exon Mobil's position as America's most valued company. In his famous speech at the Stanford University he spoke of the calligraphy course he took but later thought it was useless and it was the only thing that helped him learn what makes “great typography great”. Blending Design along with Technology:
Highlights of A Prolific Career In Better Way: iCareer: ! ! ! ! ! ! ! ! ! ! ! !
It is rare to see the yin(design) and the yang(technology) sit so beautifully alongside each other in devices of everyday use, though this is indeed one of the hallmarks of great art, music, dance and cuisine. No wonder Jobs has been installed in the rarefied hall of fame of legendary composers and sculptors, far away from the humdrum world of business and commerce!
1976: Co-founds Apple Computer 1984: Debut of Macintosh PC 1985: Quits after internal power struggle 1985-96: Founds NEXT computer systems 1986: Buys Pixar animation studios 1997: Returns to Apple as C.E.O. 1998: Launches iMac 2001: Launches iPod 2005: Launches iPod Shuffle, Nano 2007: Launches iPhone 2010: Unveils iPad 2011: Releases iPad2, iPhone 4S
His Magic Mantra: "The only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it." Mr. Bharat Gilda PGDM I Mr. Bharat Malik PGDM II, KIAMS (Harihar).
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Brand Update Mr. Vivek Goyal
somewhere in between SCORPIO, THAR,TATA SAFARI and the premium segment cars like HONDA CRV, TOYOTA FORTUNER, CHEVROLET CAPTIVA. The company is also planning to launch internationally within 6 months targeting South Africa & Asian countries. . The company has launched 3 variants: W6 (4*2) @ Rs. 10.8 lakhs, W8 (4*2) @ Rs.11.95 lakhs (INR), W8 (4*4) @ Rs. 12.88 lakhs (INR). Tech Specifications 2.2 ltr M-HAWK engine, 140 bhp & 330 Nm torque, with six-speed transmission.
RETURN TO HOME: An online website launched by monster.com targeting foreigners, NRIs (Non Resident Indians) in particular. This would act as a “reverse brain drain” as the people from other nations seeking employment in India are being provided a platform to search for good job opportunities in India. Mainly the audience from US, UK, Canada, Gulf and South East Asia have been targeted. This initiative was taken on the basis of an internal research finding that around 65% of NRI if given a good opportunity would return back to homeland.
E PRINTIT : St. Joseph has partnered along with Printon & HP to launch wireless printing kiosks at airports, schools, cafe & library for providing printing solutions. The kiosks are equipped with St. Joseph's proprietary monitoring software, HP printer (dye sublimation photo printer), and online video camera. People would be able to print through their mobiles (only smart phone users) via USB cable, MICRO SD card or email. It would take only 10 seconds to take a print with the kiosks. Customers can pay through debit card, credit card or through gift cards under PCI compliancy through CHASE paymentech. “Mobile printing is not just the ability to print from a mobile device but also the ability to print when you are mobile wherever life and business happens,” Mr, Sridhar Solur from the HP group!
MAHINDRA XUV500: Mahindra & Mahindra has launched its new SUV, christened it as XUV500. It would have a different identity and class from its peers SCORPIO and XYLO from the same family. It would be positioned
Mr. Vivek Goyal, PGDM I, KIAMS (Harihar Campus)
“Here's to the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… the ones who see things differently they're not fond of rules… You can quote them, disagree with them, glorify or vilify them, but the only thing you can't do is ignore them because they change things… they push the human race forward, and while some may see them as the crazy ones, we see genius, because the ones who are crazy enough to think that they can change the world, are the ones who do.” - Steve Jobs 20
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The Journey Mr. Nibir Mahanta
Trudging along the thoroughfares of my life's crossroads, The neon lights beckon me for a rest; Weary feet refuse to move along the slippery pavements, With the heart heavy with memories.
As Wisdom bade us farewell, He bestowed some invaluable gospel; Enriching my mind with those precious jewels, We set out further west. As we neared the coveted Horizon, Temptation interrupted our motion; Her sultry smile reflecting all the misdoings, And I was held at bay.
Travellers of varied blood pass by, Some halt, some laugh and some sigh; I halt and I chat, But only for a mere moment.
Honesty felt strangled in her vicious grip, Innocence receded her steps; The quicksand of Time suddenly became prominent And all the beautiful things seemed to vanish away.
As I crossed the river of Youth, The piranhas below threw me a thirsty look; Mermaids of lust were their disguise, I prayed, I might not slip through.
The words of Wisdom drifted in my mind; And as I battled for the final effort, Courage joined the company And together we marched in glee.
As I treaded along the green paddy fields, Honesty joined my company; The lass of Innocence quietly joined us, And we marched together in glee.
The journey thrived on, And destination seemed to arrive; What it holds for me I do not know, But Peace's cottage it will be, I am very sure.
The graveyard of Treachery lay ahead, Hatred had laid its siege; And as we silently passed by, A cunning look escaped his eyes wry. Further ahead was Wisdom's inn Legacy of Nobility there thrived in; And as we rested for the night, Wandering thoughts haunted my dreams.
Mr. Nibir Mahanta, PGDM- I, KIAMS (Harihar Campus).
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GLIMPSES -Anjali Agrawal & Ankita Mittal
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IAMS is not just an institute of learning but it is a culture in itself. It is a place where an atmosphere is created to give attention to not only imparting knowledge but also to explore and enjoy. In September, students experienced the same. If August was the month of party and patriotism, the month September has been of festival and excursion.
of-war! Everyone was dressed up in traditional attires which added charm to the festive mood. Having dinner in traditional style with the food being served on banana leaves and a serene ambience is what made the occasion even special for all of us. It certainly symbolized the true tradition of Kerala. And it would be worth noting that for many students, it was the first time experience, the reminiscences of which will always bring smile on the students face.
The sunrise on 2nd September was marked by the occasion of Eid, the end of Ramadan-the month of fasting by Muslims. Eid was celebrated with the same enthusiasm and zeal like all other festivals. To make the students feel at home, not only the delicacies of Eid were prepared in lunch but also the program was organized, keeping up with tradition of KIAMS. The famous “Rotunda” was decorated with glittering stars and moon followed by the qawwali and songs by R.N.V Sir which indeed was the perfect mood setter. Gradually the evening ended on a frolic note.
Amidst this festival season was a one-day trip to Jog falls on 14th September-the bright red cherry on the cake!! One could witness the enthusiasm and joy on the face every student. The journey started with usual hullabaloo of students in the bus, accompanied by songs and dance, till the final destination arrived. Jog falls is the highest waterfall in India and perhaps the most beautiful place till date witnessed by us in India. The surrounding left us both stunned and elated at the same time. Climbing down more than 1500 just to have the close view of the waterfall with water splashing on our face was the experience worth relishing. Though the day was exhausting but the excitement and energy level of the students did not change one bit. Even while returning back to the campus, the aura was equally exulting. It was a splendid day which left each and every one of us with eternal joy and happiness.
It was just the beginning of the festive month. Where the students were still relishing the Eid celebration, the very next day brought another celebration, the day of rejoicing our beloved “Ganapati”. The students eagerly took time out of their hectic schedule to celebrate Ganesh Chathurti. Early in the morning itself, one could witness the atmosphere in KIAMS charged with a heightened jauntiness that was seen the day before. The rotunda was beatified with colorful rangoli which grabbed everyone's attention. These are the times when one can see the exemplary unity and team work of the whole batch. The rituals began by R.N.V Sir who conducted the entire ceremony. The day was simply blissful and aarti in evening gave additional joy. The atmosphere lightened up with “Ganpati Bappa Morya” chants. The best part of the celebration was the immersion ceremony of Ganesha idol which took place the next day. The spirit of students soared high when it was accompanied by rain.
On 4th October, on one hand the management organized the ceremony of Saraswati Puja, and on the other the day to celebrate Navratri. In the evening, a puja was organized for the goddess of knowledge,”Maa Saraswati”. All the students and management made sure of their presence and paid gratitude to the goddess. It was soon followed by the aarti of “Maa Durga”. To complete the essence of the festival, Garba was organized which made everybody hold on to the Dandia sticks and tap their feet on the dance floor. It seemed as if a mini Gujarat was formed in KIAMS with students all dressed up in traditional attire and playing Garba. It would not be wrong to call September the month of rituals along with full regalement and revelry which left us with mesmerizing memories!
9th September was the day we celebrated Onam-the harvesting festival of Kerala and the most important event in KIAMS, the preparation of which started 2 days before. The charm of the occasion was undoubtedly the rangoli which was designed with colorful flowers, and left everyone spell-bound. And this was just a part of the whole event. The main event began in the evening with lighting of the lamp, followed by the Oman dance, skit and the tug-
-Anjali Agrawal & Ankita Mittal, PGDM I, KIAMS (Harihar Campus).
“Don't be afraid to fail. Don't waste energy trying to cover up failure. Learn from your failures and go on to the next challenge. It's OK to fail. If you're not failing, you're not growing”. -Anonymous
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BIZ QUEST 1) Who is the new CEO of HP?
14) Brands Bugatti, Lamborgini and Audi belong to which carmaker company?
2) W h o i s t h e e x c l u s i v e automotive sponsor of Indian GP?
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3) Wal-Mart Has launched its first“Best Price Modern Wholesale cash and-carry store“ in which part of India?
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4) Which Indian brand was awarded brand of the year award in 2010?
Name the marketing research technique based on consumers EEG brain response?
Name the IPL franchisee whose contract has been terminated by BCCI on nonpayment of franchisee fees?
17) Indian automobile industry is divided into how many segments. Name them?
5) Which is the second most valuable technology company? 6) Latest Model, Honda has introduced in B+ segment in cars?
18) Hindustan Unilever Ltd (HUL) has entered the premium-coffee market with the launch of its latest offering. Name the product?
7) Titan has made its presence in accessories (wallet, belt) under which brand name?
19) Name the Indian cricketer who is the brand ambassador of lubricant maker GULF OIL?
8) SMART TV Brand iTube is owned by which TV maker?
20) Name the Indian company that is ranked the highest in terms of marketing?
9) Name the federation that markets Asia's largest dairy product brand?
21) Steve jobs travelled to India in the quest of spiritual enlightenment. Whom did he want to meet initially?
10) Which tablet PC maker has adopted “android” and “windows” as its operating system platform?
22) What is the Apple's first slogan? 23) The first desert park is opened at China. What's its name?
11) Name the new concept of advertising that targets specifically SME (Small and medium enterprises)?
24) What is the theory Elliot Goldratt is famous for? 12) Sachin Tendulkar has been made global the brand ambassador of which antivirus company?
25) In which year did 'Crisil' take over 'Irevna'?
13) Name the car company that comes with the tag line “the best or nothing”? 23
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BIZ NEWS ! Planning commission of India sets Rs 32 (urban areas) and Rs 26 (rural areas) as per capita per day expenditure for determining the cut off for families below the poverty line. This would result in the exclusion of families otherwise deserving special attention and would also act as a relevant reference point to see whether the benefit growth has gone deep or not.
! Government aims: i. To increase revenues of IT/ITES industry to $300 billion by 2020 from the current $88 billion. ii. Drafting policies to attract IT investments in smaller cities, and incentives for small and medium enterprises (SMEs) to drive technology adoption. iii. To create 6 million skilled manpower. iv. Make at least one individual in every house hold e-literate.
! Bharat Sanchar Nigam Ltd. cash strapped telecom PSU with 3 lakh employees against Bharti Airtel's 23,000 employees has losses that have mounted to around 6,000 crore in 2010-11 from Rs 1,822 crore on the previous fiscal. It now aims to downsize employees' size by 1 lakh, offering Voluntary Retirement Scheme by proposing to help set up an outsourcing cooperative for all employees, who takes the offer and will outsource projects for 5 to 10 years. Estimated cost of VRS is Rs 17,500 crore.
! Government has drafted a new telecom policy: i. Roaming charges will be abolished . ii. Introduction of inter-circle Mobile Number Portability to enable users to carry their phone numbers from one state to another. iii. Unrestricted Inter Telephony thereby allowing subscribers to use the internet to make local and STD calls to a fixed or mobile user which till date is used to make PC to PC calls.
! Intensifying automobile industry in India with company's launching new cars to woo customers against rising interest rates and petrol prises: -
! Infosys surprised market by posting better than expected year on year growth of 9.7 per cent in net profit at Rs 1,906 crore for the second quarter and a strong earnings outlook for the entire fiscal on the back of weakening rupee. It company added 45 clients for the quarter and that it would hire 8,000 more people for the next quarter.
i. Car maker Honda, which does not have a diesel variant in its fleet, is feeling the pressure of rising petrol costs and increasing skew towards diesel cars, has launched a new hatch back petrol variant under price ranging starting from 4.04 lakh (ex-showroom Chennai) under the name BRIO.
! Sony recently recalled 1.6 million Bravia liquid crystal display (LCD) TV sets sold worldwide since 2007 to rectify a faulty component that can cause them to melt o catch fire but it has no plans to recall any BRAVIA LCD TVs sold in INDIA but upon request it is offering a free inspection of the affected products.
ii. Volkswagen which started its operation in India in the year 2007, launched two new vehicle in the year 2009 Polo and Vento. It increased its dealer network at a pace of one new dealer in every 10 to 12 days. It undertook innovating marketing campaigns thereby positioning Volkswagen as a “premium innovative brand�. iii. Now the battle between Maruti Suzuki, the country's largest car maker, and Hyundai Motor India in the hatch back segment has intensified with Hyundai's launch of EON in a price band of Rs 2.69 lakh to Rs 3.71 lakh, to take on Maruti's best selling small hatch Alto.
! Centre offers Rs 900 crore sops and Reserve Bank of India restores interest subsidy scheme cumulating to Rs 1700 crore Diwali bonanza for exporters. The centre sops beneficiaries include engineering, pharmaceuticals, chemicals and electronics centre and those exporting to Latin America and Africa and the RBI scheme for carpets, handlooms and handicrafts and SMEs.!
ANSWERS OF BIZ QUEST 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13.
Meg Whitman. Mercedes. Chhattisgarh. Gillette. IBM. Brio. Fast Track. Onida. Gujarat Co Operative Milk Federation. Samsung. Transaction based advertising. Kaspersky labs. Mercedes.
14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25.
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VolksWagen. Neuro-marketing. Kochi tuskers. 4 (A,B,C,D). Bru Exotica. MS Dhoni. Hindustan Unilever Network. Neem Karoli Baba. 'Byte' into an Apple. Alxa desert geopark. Theory of constraints (TOC). 2005!
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Across 4. 6. 8. 9.
94%The effect of FDI in multi retail on unorganized retail sector which constitute ............... of the Indian retail industry. OBSERVABILITY................ is the degree to which one can see and understand the results of adopting the innovation before the full adoption DIFFUSION OF INNOVATIONThe .................. framework suggested by Rogers (1962) incorporates the social and psychological parameters as well to explain the adoption decision TECHNOLOGY ACCEPTANCE MODELThe use of ........... in the study of IB focuses only on technological aspects but ignores other important aspects like social and psychological.
Down 1. 2. 3. 5. 7.
INDUSTRIAL REVOLUTION“Before, ............. most businesses in India were sole proprietorships or small family run businesses. CASH AND CARRYIn 1997 that FDI in ................ wholesale trading was first permitted $450 BILLIONAccording to the consulting firm A T Kearney, the total retail sector in India is of ................. out of which 80% is run by small shops or kiranas. TRIALABILITY................... is the degree to which the innovation can be experimented with on a limited basis AGEWith regard to demographic variables, ............ found to have significant effect on adoption, with younger customers being more likely adopt than older ones
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CAMPUS NEWS On 14th September, 2011, college arranged an excursion trip to “Jog Falls”. This trip was a welcome change for both the batches. “Industrial Integration Programme” was held on 15th and 16th September, 2011. It was conducted by Prof. Atul Kulkarni and Prof. C D Thakur. It was a good learning experience for the Batch 14 students.
Corporate Presentations by Batch 13 students were successfully completed from 26th September,2011 till 1st October, 2011.
Placement season began from mid September. “Irevna” was the first company to come for placements this year. “Gopal Agarwal” and "Preeti Agarwal" of Batch-13 were the first students to get placed in “Irevna” on 21st September, 2011. On the auspicious festival of Navratri, “Garba Night” was celebrated at KIAMS on October 4th with full enthusiasm. Dancing in tune with the Garba songs with the Dandia sticks added fun to the celebration. Ashok Leyland, the 2nd company to come for placement this year, shortlisted 12 students from KIAMS. Interview was held at Bangalore on 14th October, 2011.
Team Chanakya gives special thanks to Ms. Bhavani Devi, Mr. Suryateja Rallapalli, Mr. Aakash Jain, Mr. Ayush Agarwal for their valuable contributions in the November, 2011 issue of The Chanakya.
Faculty Advisor Prof. R. N. Venkateswaran
We invite you to send in your feedback to help us bring out the best in 'The Chanakya'. chanakya@kiams.ac.in
Student Editorial Team Ms. Ekta Maheshwari, Ms. Tulika Raj, Mr. Siddhartha Sarma Modukuri, Mr. Maninder Nayak (PGDM-I) Ms. Niharika Rathi, Ms. Rituparna Das, Mr. Nikit Shah, Mr. Rajesh Kumar (PGDM-II)
Next Issue : Focus - 'Operations'
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