Hello Readers!
EDITOR'S NOTE
VISHAL GUPTA
‘A lot has happened’ over the last two months, from one of the most loved brands- CCD closing down to the rising tensions of world plummeting to a global recession, from ‘Howdy Modi’ to the speech by Greta Thunberg in the UN Climate Action Summit which took the internet by storm. With winter setting in here at Shillong, it’s been a month of festivities and we at Markathon wish all our readers a very Happy Dusshera. While festivities bring with them a sense of togetherness and brotherhood, they bring with them an overdose of marketing activities with various interesting campaigns and other promotional activities. The fervor and frenzy during the festival of lights is visible in every nook and corner of the country, but more so in the busy streets where small businesses thrive. Households plan for an entire year, to be able to shop during this festive season and hence it becomes critically important for marketeers to proactive during this season. Rohan Chowdhary, of IIM Ranchi, shares his insightful thoughts on ‘Local Street Marketing’. We congratulate and thank him for his curation. On the other extreme of overboard shopping, is the disheartening economic state of affairs with a slump in the GDP, declining forecast of growth rates and fall in income. We present our cover story with an aim to answer the big question on how to decide - ‘marketing strategies to combat the Economic slowdown in India’. Since businesses cannot wait for the recession to pass to start selling, the article goes on to describe the various customer segments that can be targeted and the most effective means to reach out to them. In the eye2eye section this edition, we have one of the most debated topics between conventional and contemporary marketeers: “Is ROI the best way to measure marketing efforts”. Jab They Failed features the story of American Airlines witnessing the rise and demise of the Airline pass. Logoistic discusses the evolution of YMCA- Young Mens Christian Association logo. The most beloved section- Vartalaap, yet again brings to you an interview with one of the most prominent marketing personalities- Mr. Sunder M, HeadMarketing Adobe, with almost two decades of rich experience in the industry, which he fondly shares with us.
"While festivities bring with them a sense of togetherness and brotherhood, they also bring an overdose of marketing activities with various interesting campaigns and other promotional activities."
We would like to thank all the participant for their entries for the Perspective and the eye2eye section. Its our readers who enable us to keeping pushing ourselves to bring out nothing but the best. We really look forward to your comments. We are confident that you will thoroughly enjoy reading this bimonthly edition of Markathon. I would take the pleasure of introducing you to the new team of budding marketeers who would now take forward the baton as we sign off. We wish you a very Happy Diwali and hope you celebrate it in a responsible way. So what are you waiting for? Flip over and enjoy the read! Happy Reading! Team Markathon
03 | Index
August-September 2019
Andar Ki Baat 05
PERSPECTIVE The Local Street Marketing Rohan Chowdhury IIM Ranchi
07
COVER STORY Marketing strategies to combat the economic slowdown in India Adrija Khan & Komalangi Srivastava
11
EYE 2 EYE Is ROI the best way to measure marketing efforts - ROI V/S Marketing Expenses Sumit Agarwala & Yash Choudhary IIM Shillong
12
LOGOISTIC Revolution of YMCA Sahil Brahmne
04 | Index
August-September 2019
Andar Ki Baat 0113
SILENT VOICE Print Ads Kaushal Gupta
14
AD-DICTED Catch or Miss Shreyas Tripathi
15 J A B T H E Y F A I L E D The Rise and Demise of the American Air Pass Harshit Somani
16
VARTALAAP Mr. Sunder Madakshira Head Marketing, Adobe India Adrija Khan & Sahil Brahmne
18 U P D A T E S Kopal Tripathi
05 | Perspective
August-September 2019
BY ROHAN CHOWDHURY IIM RANCHI As MBA students, we all have gone through the marketing concepts as explained by Mr. Kotler in his book and we might think that we have become a better marketer than all other people doing business out there especially the street-side vendor. But let me break your myth and take you through my journey of what I have experienced and what I call is ‘The Local Street Marketing’ While the local vendors may not be knowing the technical terms of the concepts, but they very well know the concepts and use them so intensively that might put us B-Schoolers to shame. On observing closely, I found a local Golgappa wala using the following marketing concepts to sell its product. The interesting part about this man was that he was not just selling Golgappas, but was also running an integrated marketing campaign.
During the first visit at the local market, we were skeptical about which stall to choose to eat the Golgappas. One of the stalls spotted us and called us to try their Golpgappas for free. While the Freemium Model is a trend now in the marketing world, this man was using it in his small shop. He greeted us and asked us about our hometown. This is what we call ‘Gaining consumer Insights’. I could see him trying to connect something of his life to our hometown. This desperate attempt of his is what we call ‘Connecting with the consumers’.
PERSPECTIVE
THE LOCAL STREET MARKETING
06 | Perspective
August-September 2019
Surprisingly he figured out what type of taste we are expecting from him and made the Golgappas exactly suiting our taste. It means he had already done his marketing research and through the consumer insights he got, he immediately prepared the product best suited to the consumer needs. He remembered our taste preference and every time we went, he made the Golgappa accordingly. This is called customizing the product according to consumer needs. After finishing our lot, he used to give one extra Golgappa to us just because we were his regular customers. This way, he was incentivizing loyalty among his customers. It’s the same way brands issue loyalty cards to the consumer but they need highly paid marketing professionals for doing it. One day, it so happened, we went to that stall after month, and what shocked us is that he remembered us not coming to the stall for over a month and enquired about it. He was concerned about our absence for over a month. As consumers, we were very impressed by him by the personal touch shown by him towards us. I wish brands of today could show such a personal touch instead of spoiling us with offers. Lastly, after every Golgappa session, he used to ask us about the taste and the experience of the product. This activity is what we call taking Customer Feedback. Overall he was not just selling the products but was running his integrated marketing campaign by providing a unique and personal experience to his consumers. This was just a small example of how we can observe the marketing concepts being applied on the activities around us. While some of us may still think that Marketing is ‘Globe’, it’s concepts are omnipresent and we cannot ignore it. It basically boils down to one basic logic i.e, keeping the customers happy. These Concepts are simple and interesting and one does not need to do an MBA to learn it. A curious mind and observant eyes is all we need to explore the beauty of marketing.
07 | Cover Story
August-September 2019
MARKETING STRATEGIES TO COMBAT THE ECONOMIC SLOWDOWN IN INDIA COVER STORY
ADRIJA KHAN KOMALANGI SRIVASTAVA
WHAT EVEN?
Since official data on India’s economic growth was released in early September, social media has been brewing theories of a possible recession. India’s GDP is at a six-year low of 5% in the first quarter of FY20. There has been a steep rise in layoffs, and the slowdown in the Automobile and FMCG sectors are adding to the apprehension. Over the last five years, the total consumption expenditure by Indian households had accelerated with an average growth rate of 7.8 per cent compared to an average of 6.1 per cent in 2011-14. But the recent sharp fall in the June quarter to 3.1 per cent compared to 7.2 per cent in the March quarter has significantly contributed to the recent slowdown. What should a Marketer do in instances of a national economic slowdown? How does one ensure that consumer demand is not too deeply affected by the turmoil in the economy?
08 | Cover Story
Proctor and Gamble pushed the Ivory soap during the Great Depression. Intel launched “Intel Inside” during the 1990 to 1991 recession. Walmart bombarded its rivals with “Every Day Low Prices” during the economic slowdown of 2000 to 2001. Historically, all of these industry stalwarts used the economic slowdown to their advantage.
August-September 2019
The Comfortably well-off segment These consumers are secure about their ability to ride out the upcoming storm in the economy. They consume at near-prerecession levels and become a little more selective and less conspicuous about their expending. The segment consists of people in the top 5% income bracket such as investors who got out of the market early or had their money in low-risk investments. It also includes the section of the society which is less wealthy but are confident about the stability of their finances.
The Live-for-today segment
CONSUMER REACTION TO ECONOMIC SLOWDOWN Consumers are on the lookout for products and services that best suit their needs within the preferred price range. In times of economic slowdown, the stress on the pricing increases. As an economic slowdown hits, the consumers break down into 4 segments:
The Slam-on-the-brakes segment This is the most vulnerable and hardest hit financially. This segment reduces all types of expenditure by eliminating, postponing, decreasing, or substituting purchases. Lower-income consumers typically fall into this group. However, anxious higher-income consumers can also fall into this segment if their income or health situations change for the worse.
The Pained-but-patient segment This segment of consumers is resilient and optimistic about the long term but apprehensive about the prospects for recovery in the short term or their ability to maintain their standard of living. They economize in all areas, however less aggressively. This is the largest segment of consumers and include the majority of households unscathed by unemployment, representing a wide range of income levels. As the economic slowdown gets worse, pained-butpatient consumers turn into the slam-on-thebrakes segment.
This segment remains unconcerned about its savings and carries on as usual with their household. The consumers in this segment usually respond to economic slowdown by extending their timelines for making major purchases. This segment usually consists of urban and younger who are more likely to rent than to own and spend on experiences rather than stuff. They are not likely to change their consumption behaviour unless they get unemployed.
09 | Cover Story
August-September 2019
VIABLE MARKETING STRATEGIES As a Marketer, the only focus is the consumers, and fulfilling their needs and demands. An economic slowdown can spell difficulty in the marketing strategies of a company, and it is essential to tread cautiously. Marketers usually have some go-to strategies to clamber their way out of economic intricacies:
Do more online and email marketing Email and online marketing are viable and safe marketing ideas in case of a slowdown. The cost of running marketing campaigns is immense. Online marketing is affordable. Along with that it gives the added advantage of communicating with the customers on a one-to-one basis. It also provides better tracking capabilities and faster results.
Advice from our side: Strategize, but not like PHB!
PUBLIC RELATIONS TO THE RESCUE If it comes at a reasonable cost, a PR campaign can complement your marketing campaign. PR campaigns a great way to increase your visibility. By using certain web channels to distribute press releases, you can get information out to more readers and get listed on search engines.
An opportunity for better media deals A marketer should see an economic slowdown as an opportunity for advertising. During an economic slowdown, paid advertising rates often decline, as media outlets start to feel the pinch. You might be able to negotiate a great deal on space in media outlets. You can also consider opportunities for barter transactions. Let’s take an example to demonstrate this. Supposedly you have a business which is short of cash but you may want to make a trade and sharing in the arrangement conserves your company’s expenditure. It is more likely to get a premium placement advertising during an economic downturn than when the economy is thriving. However, if you must absolutely reduce your marketing budget, try to maintain the frequency of ads but shift to smaller or shorter, less expensive ads.
Anticipate customers behaviour and modify your marketing strategy accordingly An economic slowdown directly results in a change in the consumption patterns of customers. Whether it is due to internal factors or external, a decreased consumption directly affects the sales of a company. In such a scenario, you have to analyse what your customers are looking for. They might be looking for quantity discounts, postpone purchases, negotiate for lower prices or trade down to less expensive products and services. As a marketer, you need to tailor your promotions and marketing messages accordingly. Emphasize reliability, quality and value.
10 | Cover Story
August-September 2019
BOTTOM LINE The bottom line is that companies have a better chance of weathering an economic storm if they view marketing as an investment. Looking at it as a potential opportunity rather than an expense is the most optimal way to stay afloat in an economic slowdown. Despite the unanimously accepted economic slowdown, many companies have been brave enough to play on the attacking footing. Instead of backing down and protecting what they already have, many companies are using these difficult market situations to expand. Uniqlo, the Japanese Fashion Retail giant, is all set to open its first store in New Delhi on 4th October, 2019. The manufacturing industry is experiencing steady figures, as are food production and steel.
As food is a basic necessity, this industry might be the last to be hit by any kind of recession. Owing to the incoming festival season, businesses might witness growth in sales again. Diwali is a major source of revenue for all B2C buyers, and markets will look forward to capitalizing on that. There is no looking away from troubling signs about the economy. But for now, some sectors within manufacturing are still growing, a few even at a higher rate than last year. But if consumers decide to hold back their spending further, fearing worse days to come, it could make a bad situation much worse. Marketers can either buckle up to fight the worst, or draw inspiration from history to survive the phase. After all, this too shall pass.
11 | eye2eye
August-September 2019
ROI VS MARKETING EXPENSES SUMIT AGARWAL IIM Shillong
The biggest example of inter departmental
The original American marketing John Wanamaker is famously attributed with the quote: “Half the money I spend on advertising is wasted; the trouble is I don't know which half.� Today, there is no excuse for wasting half of your money on advertising. In a world where the competition always gets the better off you, and companies have to constantly increase profitability to keep the investor's interest, one does not have the financial resources to be left at the mercy of fortune. All campaigns, promotions, associations should necessarily lead to tangible results reflected through increased sales volume. One of major reasons for adopting digital marketing platforms is merely the option of traceability. It is extremely convenient to measure the number of impressions, conversions, click through rate etc.
conflicts in an organisation that we have noticed historically are between finance and marketing department. On one hand the focus is on health of the bottom line of the company and on the other hand lies the task of attracting, satisfying and retaining the customers. The heads of the two departments are sure to be at loggerheads at the time of financial distress and slowdowns. At the
time
of
hardship
it
is
generally
this
department that has to go through the test of net returns wherein it is asked to justify the expenses done and planned for future by scrutinising them for the contribution towards returns. Is this the right way to judge the effectiveness of marketing? I guess not, This is definitely not the right thing to do because as far as marketing is concerned it is the start of a business cycle and provides inputs for the next cycle. If it was linked to ROI then brands like Maggie would have never ever come back to the market once they were thrown out. The
continuous
research
on
customers
preferences, continuous paying of rent in the customers mind is something that helped them sustain and survive through hardship. Can we measure this impression created by marketing efforts in customers mind with the help of any quantitative metric? I am not sure of that whether it's possible or not but hindering with the marketing process to save some bucks is surely a roadmap to doomsday.
VERSUS
YASH CHOUDHARY IIM Shillong
Additionally, the consumer habits and the environment is evolving continuously. Herein comes the need to continuously monitor the current marketing activities, and see if they have become outdated. Based on the analysis, we decide the platform in which we market, the user demographics, decide on the rate of organic growth, calculate the Net Promoter Score and also the Customer lifetime value. It is only then can we abreast ourselves with the changing trends, and know if we are spending the money in an appropriate fashion. The entire field of this study is called Performance Marketing, which is being talked about in every nook and corner.
The
Topic for the next issue is: "Are discounts still an effective pricing strategy in marketing", Your opinion (viewpoint/counterview) is invited. Word limit is 250300. Last date of sending entries is 15th November 2019. Include your picture (JPEG format) with the entry. Winners will receive a prize money of Rs 500 each.!
12 | Logoistic
August-September 2019
THE EVOLUTION OF YMCA SAHIL BRAHMNE
This is the founding logo of YMCA. This text in the middle refers to the Holy Bible’s New Testament book of John, 17:21 that says, ”That they may be one.” This is the motto that the organization still abides by. Here, we see the trend of organizations moving towards a much simples logo by abandoning the detailed and descriptive logo. This is where we first saw the introduction of the famous red triangle that we associate the YMCA with. It was proposed by Luther H Gulick in 1891. The three words on the sides of the triangle represent a man’s essentials according to the YMCA. They are, Spirit, Body and Mind, with each playing an essential part in the very existence of man.
This is a much simpler logo that dropped the Spirit, Body and Mind Miss words. Verdict: In this logo, we see for the first time, the name of the organization, YMCA. This is a much cleaner and simpler logo that the YMCA is recognized by.
The YMCA, in 2010, unveiled a new strategy to extend understanding of the impact it makes in communities. The whole strategy enclosed an advanced brand that mirrored the range and resonance of the organization. It depicted a framework that focused on the 3 core areas: youth development, healthy living and social responsibility. The new logo's bold, active and welcoming shape symbolizes the Y's commitment to non-public and social progress.
LOGOISTIC
When we observe the evolution of various logos, we see a very clear trend. During the 1900s, the companies were in that nascent stage and had a rather descriptive logo. Companies had a very limited scope of advertisement channels and the logo was the only way of letting the customers know about the company. So, the marketers focused on describing the whole offering and trying to explain what they stand for using just one picture. As the marketing channels started to expand and the Television, Personal Computer, Mobile phones and the internet started to grow, marketers realise that they had to follow the “KISS” principle, ie. The Keep it Short and Sweet. Marketers realized that they could leverage the various marketing channels and wanted to only leave a lasting impression in the minds of the consumer and let their product or service do the talking. In this edition of Logoistic, we take a deep dive into the evolution of the logo of YMCA – Young Mens Christian Association, which in a survey conducted in the USA, was found to be recognized by 97% of the American Citizens
13 | Silent Voice
August-September 2019
SILENT VOICE: PRINT ADS
KAUSHAL GUPTA
PEDIGREE Pedigree is a specialty pet food store that has been around since 1957. Pedigree has released countless commercials, magazine ads, radio ads, and more. One of their recent campaigns was titled “A Dog Makes Your Life Happier. Adopt.” This campaign does not directly market their products or encourage you to buy dog food. Instead this campaign focuses on adopting dogs, instead of shopping for them. By this Ad, they are referring to their promotional deal where if you buy a Pedigree bag of dog food, they will donate another bag to shelter dogs. This campaign features a series of images. The images include 2 side-by-side images. One image is someone who appears to be lonely and off by themselves. The second image is the same as the first, except the second one features a dog along with a heartwarming tagliine “A Dog Makes Your Life Happier. Adopt.”
It is evident that the dog adds an instantaneous level of happiness to each advertisement. The “A Dog Makes Your Life Happier” campaign is touching and uplifting. It also may be the push needed for someone who has been thinking about adopting but hasn’t already. Pedigree knows that dogs make the world a better place and wanted to make sure as many people as possible get to experience that joy.
WORLD ALZHEIMER'S DAY BY PUBLICIS World Alzheimer's Month is the international campaign by Alzheimer's Disease International (ADI) every September to raise awareness and challenge the stigma that surrounds dementia. World Alzheimer's Month was launched in 2012. World Alzheimer's Day is on 21 September each year and is a part of World Alzheimer Month. This year the focus of the organization was on stigma, break the stereotypes and myths that surround a dementia diagnosis. 2 out of every 3 people globally believe there is little or no understanding of dementia in their countries. The impact of World Alzheimer's Month is growing, but the stigmatization and misinformation that surrounds dementia remains a global problem that requires global action. Promoting this concept of spreading awareness, Publicis in Belgian came up with this creative which also has a concept based on memory loss. Using the format of the magazine medium, the ad shows ink dissolving or being brushed away, much like the memory of those living with Alzheimer.
14 | Ad-dicted
August-September 2019 BY SHREYAS TRIPATHI
Company: Raw Pressery Positioning: #nutsaboutnut Agency: What Works
Concept
The goodness of milk and almond without worrying about cholesterol and lactose is something Indian customers have been waiting for. Raw Pressery is in the forefront to offer the Indian customers just that through its unique offering Almond Milk. The recent advertisement by Raw Pressery is effective in emphasizing on Almond nut. Usability of the product has been clearly communicated in various ways; for instance, we see an elderly couple making tea and a chef making salad. Taking advantage of the changing consumer behaviour Raw Pressery has targeted health conscious millennials and their need for a high protein diet. At the end of it signs off in fine print #nutsaboutnut
CATCH
Company: Aquawhite Product: Aquawhite Agency: Mindconnect
Concept The oral hygiene market is monopolistic in India. Most of the advertisement try to position themselves as a brand that’s a doctor’s recommendation. Therefore to break through the clutter Aquawhite has come up with its unique offering for kids that makes brushing fun for them. They are trying to target kids through franchised character like “Chhota Bheem”, “Angry Birds” and others. The key message of the advertisement is “Day and night, Aquawhite.”. Contrary to other ads where a doctor would be recommending brushing twice a day, here kids are seen dancing with Tiger Shroff with a reminder that brushing can be fun.
R
MISS
Verdict: Catch Millennials are enthusiastic about fitness; therefore, the advertisement connects with its target audience effectively. Contrary to other advertisements they have used real-life athletes instead of going for celebrity endorsement which adds to the trustworthiness of the product. The ad also connects to the viral trends on the social media and gaming which connects well with the millennials creating high brand recall. The background score is effective in getting you high on fitness and makes you want to move. Markathon believes this is a CATCH as the ad is able to connect effectively with its target audience while communicating the authenticity and benefits of the product.
Verdict: Miss The Aquawhite commercial fails to create a lasting impression on the audience as there is no storytelling. Each character has a separate narrative, and therefore, it fails to retain viewer’s attention. The ad is effective in communicating the core message, but it fails to present the same effectively to the viewer. Even though the commercial is effective in catching the eyeball of the consumer but Aquawhite gets overshadowed by the franchised characters it’s trying to sell to the kids. For an advertisement to be successful it should generate curiosity in the brand. Markathon believes that this advertisement is a miss due to poor implementation.
15 | Jab They Failed
August-September 2019
HARSHIT SOMANI Companies respond to not having money in different ways. Some file for bankruptcy, some look for mergers but in 1980s American Airlines decided to react by something genuinely drastic, the American Airlines unlimited firstclass pass. It was a simple idea. The unlimited pass would cost $250,000 and would give the holder free first-class travel for life. An added companion pass at $,150,000 would entitle another person traveling with the unlimited pass holder the right to free travel. .It was a highly ambitious move in the competitive aviation industry. The cash strapped airline thought that this move would transform their fortunes. Little did they know that the worse was waiting. The seemingly good proposition had a fatal flaw - it was such a good deal that it ended up costing American Airlines millions of dollars every year such that the company began revoking contracts of its top customers by any means necessary.
The company had thought that companies would buy these packs for their top employees requiring frequent air travel. However, the common public turned out to be way smarter than American Airlines. One such purchaser was Steve Rothstein, an investment banker in Chicago who took over 10,000 flights using this scheme. Decades later, the company's revenue integrity team found that some of the unlimited American Airlines pass were costing the company large chunks of money. The company soon began revoking the passes of people taking unfair use of them and indulging in fraudulent activities. It still issues membership passes but with certain limitations and conditions. The case demonstrates that savvy and smart consumers can take advantage of enormous corporations if corporations make silly mistakes. The key is to evaluate and analyze the viability of marketing efforts or ideas before implementing them.
JAB THEY FAILED
THE RISE AND DEMISE OF THE AMERICAN AIR PASS
16 | Vartalaap
August-September 2019
AN INTERVIEW WITH SUNDAR MADAKSHIRA BY ADRIJA KHAN AND SAHIL BRAHMNE MARKETING HEAD, ADOBE
1. You have been a part of the Marketing world for roughly 22 years now. What has been the most drastic change in Marketing campaigns that you have witnessed and what were your takeaways from it? The biggest change in the Marketing world is the level of personalisation, thereby making it much more measurable. Marketing has become more goal-specific, with increased accountability. So we know what we wish to achieve at the beginning of the campaign. The dream of a Marketeer is to market and sell to one person among the target audience. For that we have to adapt to a specific culture as well as technology, and that is more relevant now than ever before. Although we are not technologists, we must learn how we can implement technology to market better and sell more.
2. Most of your leadership roles have been at technological giants like SAP, Infosys and now Adobe. How are your strategies or ways of thinking different now than they were at Hindustan Levers which has a very different scope of business?
It is not just a change in what we market, but also in how we market it. Some essentially common steps are segmenting the market; identifying the target segment; marketing to different operations; creating values for them; making offers to retain customers. But in some cases, marketing has to be circumstantial, depending on the situation you are facing. For example, mass media plays a big role in an FMCG company as compared to a B2B company. Also, things like event management and Digital Marketing comes into picture. So we must know how to use these tools specific to a certain business.
VARTALAAP
Mr. Sunder Madakshira, the Marketing Head of Adobe (India) has had 22 years in leadership roles in Sales and Marketing positions across B2C, B2B products and Services working with worldrenowned brands such as SAP, Infosys, WIPRO, Hindustan Levers and VISA before his current role at Adobe. He has performed a wide range of functions in Demand Generation, Product & Services Marketing, Digital & Social Media Marketing, Market Research, Competition Intelli-gence, Talent Branding, Employee Communications, and Marketing Process Administration. His specialties include Public Relations, Digital Marketing, Events Management, Internal Communications, Thought Leadership, articulating powerful value propositions, and identifying strategic segments for growth. He has been bestowed with a plethora of accolades over the years, including "Most Influential Marketer" at the World Marketing Congress in Mumbai in Nov 2016.
17 | Vartalaap
August-September 2019
3. The Marketing Cloud is a unique, innovative product of Adobe. How much is it expected to revolutionize the Marketing space by providing business solutions? The Marketing Cloud is now called the Experience Cloud. Nobody wants to buy products, they want to buy an experience. And we are selling them the experience. The better the digital experience, the better the customer recall, the more they are willing to pay for it and the higher our chances of customer retention. So the cloud aims to provide incredible experiences to our customers, and also make real-time changes to marketing campaigns.
4. Do you prefer Digital and Social Media Marketing taking over the Marketing space or would you prefer more orthodox forms of Marketing? Why? Today we are living in a digital world, and not just a physical world. So we do not have the luxury of ignoring one at the cost of another. Every channel has a different purpose, and as Marketers, we should know what to expect from a channel. For example, if we are dealing with a high-cost product, and a digital channel helps to close the deal faster, then go for a digital channel. One should always be in a situation where they can easily switch between both. Sometimes, people are predominantly dependent on mass media like television to choose a product. In other cases, the product may not at all be available on television, such companies go purely digital. When you look at jewellery today, a large part of it is sold online today on sites like CaratLane. Even 5 years back, the only way to buy jewellery was by physically visiting shops. So the world around us is changing. We have to make use of both types of channels optimally.
5. You have coordinated with large teams spread across the globe. In this age when Marketing is more about relationship building, how do you ensure you maintain that kind of communication equally with people from diverse backgrounds? Adobe as a multinational company gives you the opportunity to interact with so many different cultures. The beauty of this profession is that the more you converge with people from different backgrounds, the more enriched you are. If you can have a structured communication system, working with such a diverse group should not be an issue. Take this for an example. You are in Shillong and I am in Delhi, but this conversation is going so smoothly, as if we were seated next to each other. With the advent of technology, regular communication now happens through digital channels like WebEx, Slack and WhatsApp. We also have a CRM which binds all the communication together. There are some situations where physical presence is necessary in the same room, and we try to make that happen as often as we can. On such occasions we have very open discussions on what is happening in the team, especially people issues. So with technology, the issue is no longer communication, but the rigour that follows. We have to ensure that the whole team is coordinated and on the same page, not just in India, but around the world.
6. You have been recognized amongst “India’s Greatest CMOs” in 2017 and won several other accolades over the years. What role did personal branding play in your journey? How far does a personal brand go in creating a success story in today's world? The brand of a leader is very important because people like to work with people from whom they can learn and network professionally with. You cannot learn about building rapport in a formal setting such as a classroom. An informal network gives you the opportunity to learn and develop your own story. The brand of a leader matters a lot, because first, it recognises talent, and then it helps uplift the company. It is all about forming your network in the Business world and making yourself known to the world.
7. Finally, what message would you like to share with our readers who are all budding Marketers looking to make an impact? Be curious. Always look for opportunities to learn and grow. Do not make the blunder of getting complacent at the start of your career. Make sure to never reach a point of saturation because the world around us is constantly evolving. We need to keep up with it. And the only way to do that is if we can remain genuinely curious. The faster you learn, the more will be your progress. And if you want to become pioneers, you should take risks. Most people are too concerned with their legacies and what they could lose if they made a change. Nobody in today’s world can predict what will work and what won’t. Taking risk is not about jumping off a cliff but placing calculated bets. So take risks, but be wise about how you go about it.
UPDATES
18 | Updates
By Kopal Tripathi
August-September 2019
19 | Updates
August-September 2019
UPDATES
August-September 2019
20
https://www.facebook.com/markathon.iims/
https://www.instagram.com/markathon.iims/
www.issuu.com/markathon
https://www.linkedin.com/in/markathon/