delighted that the marketing club has been given the chance to use its monthly publication as a forum for all young marketing enthusiasts who want to express their opinions on a variety of themes. It brings me great pleasure to write this letter as Editor of this one-of-akind issue of the magazine.
The theme of August's edition revolves around future scope of marketing in web 3.0, sports marketing, influ encer marketing, surrogate marketing and much more.
I extend my warmest gratitude to all the authors for their interest, enthusiasm, and well-documented sub missions of excellent articles and participation in this magazine’s building. I firmly believe that no matter how your magazine is delivered; either at your doorstep or to your computer, printed on glossy stock or on cheap tabloid paper, appearing on your iPad or your cell phone screen, it is still the work of an editorial team for a discerning audience, a beautiful and meaningful package of ideas, words and images put together by a group of experts for its readers.
While technology efficiently delivers new stories to our desktops, laptops, and mobile devices, magazines are all about context – how ideas and images are presented in relation to one another and spanning a broader per spective. We, the editors, will always strive to keep you engaged.
FROM THE EDITOR Welcome to the very special edition of Marque maga Izine.am
CONTENTS01 Marketing in Web 3.0: Future Scope and Engagement for Indian Market 03 Brand Partnership in Sports Marketing 07 Continued Rise of MarketingInfluencer13 Surrogate Marketing in India Buzzfeed09 Marquing15TheMoments
Marketing in Web 3.0: Future Scope and Engagement for Indian Market
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Author: Alistair S.H. Toppo Indian Institute of Management Indore
The very definition of modern-day marketing has been furbished and directed through a single tap of any digital device. From grocery to entrance exam inations to banking, and more, the online setup has resulted into reformative state which witnessed to have binary outcomes – it has either connected the missing dots and made the process handier or have been exigent for people in terms of operating and plummeted traditional method of pitching. Speak ing in term of how impactful the changeover had been, the postulation of one-stop solutions has rev olutionised the pattern of targeting the potential set of customers as well as eradicated the unnecessary fatigue of door-to-door marketing/sales. While the world advances further in the advent of technology, marketing has fruitfully grown from the basic 4Ps/Cs and word-of-mouth to influencer marketing, trial-n-error as well as syncing a ‘need’ based pitch to the community. The introduction of metaverse in the market have given brands and peo ple a new channel to connect and build. Though aug mented, the unexpected yet overwhelming response have become an impetus to pull maximum custom ers through phygital experience. The bigger question remains – where does the leading brands draw the line between imposing hardcore marketing tactics and organically mesmeriz ing the audience lead ing to brand intimacy. Second life, aka metaverse, have been emerging as a colossal platform for the users to interact and live another life of their choice in the virtual reality. Ini tially started as a pilot project, now the firms have been pumping massive investments to advertise their products/services in the online world, which would consciously/unconsciously hover around the user’s mind once he/she glances over the brand in the real world. The operating cost for such promotional strategy is less as compared to real world advertise ments, but it’s traded for the factor of sustainability. There’s no denial about the dynamic nature of ‘web’, therefore it resists any company to further develop on that particular lane. From the Indian market point of view, in order to en capsulate and trigger the ‘buying’ emotion amongst the customers here, there are two salient factors which plays a key driving force – Drama, Display & Delivery. The parameters hold true irrespective of the medium of marketing. In the incumbent pe riod, advertisements in social media platforms like Instagram, Meta and YouTube has been fast growing as compared to traditional methods of radio, news paper and TV. Apart from the online factor, it’s the correct targeted age group in such social media plat forms, with a synced payment option, which leads to impulsive buying by the youth. However, it also re sults into vehement criticism, if the product/services fail to match their expectation.
Also, there exists a certain degree of personality
Although the Indian market requires the marketers to be in toes, and quickly grasp any major event as a function for advertisement. The quirkiness and can did method have been significantly contributing to reach out the potential set of customers through the online method. The engagement level, in today’s con text, is all about reels, trends and online challenge. This form is often amalgamated through promot ing films, products and even campaigns in an easy and quick fashion. However, its limitation includes the age group bracket, as it would consist mainly of youngsters. But it does allow the viewers to interact, question and view the offered product/services in an effective way as compared to the earlier traditional
power which either upshots or plummets the stock price or any cryptocurrency rate in no-time. This could be considered as a concoction of guerrilla and influential marketing, where ‘tweets’ or ‘actions’ leads to turmoil in the global market. An anecdote could be Ronaldo’s post-match press conference, where he knowingly removed Coca-Cola’s bottle from his desk and brought water instead into display. And,
(Picture Courtesy: Popsupsmart.com) its shebang could be explicitly seen in the following day, where its share price and public response both gravitated. In the domestic market, its more frequent for airlines in terms of delays, misbehaving with pas sengers or any minor dismay leads the flyers to shout over LinkedIn or twitter.
While we talked about sustaining a method to at tract customers organically, the material filtered could only be channelized if the person has strong affiliation towards the brand or crossovers through its community. Therefore, the engagement segment becomes the crux of the process as the current and future growth depends on the number of people re acting to it. However, rather than just reacting to it, relating to the content shown/displayed would em phasis the customer towards the brand/product and eventually end up buying it. In today’s context, the brands are more than just products and services. An epitome could be Johnson & Johnson’s method to become a ‘caretaker’ for a woman since her teenage till she delivers a baby. Their website also upholds a list of names for babies, giving a personal touch to its Thecustomers.postulation of AI matrix in leading E-commerce websites, apps and even usual messaging have per plexed customers by making it a labyrinth. Its com mon to come across pop-ups like ‘frequently brought together’, ‘view cart’ etc. whenever you’re browsing something online. Moreover, we often get to see Amazon/Flipkart’s pop-ups ads even when we’re browsing something else on the web. The frame work used to cajole visitors here is similar to a maze, wherein once a participant enters his/her data it’s been moulded to direct customers for buying certain products – leading to engagement. Needlessly to say, the cost of data costs the companies to invest heavily in such advertisements cum integrated AI systems.
Inmethods.anutshell, the junction of web has undergone sequential changes in terms of marketing. From Electronic Data Interchange (EDI) to Reels and Metaverse, this segment has witnessed many chal lenges, iterations and controverses yet the end-mo tive of reaching the potential set of customers have been a success. As of the rumours goes, in the up coming phase, there exists a fusion of web3 and web2, leading to a sense of suspense for the ‘virtu al-world’.
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Source: The Branded Athlete
Over the previous few decades, it has increased pub lic knowledge of the sports sector and attracted a large audience. This, in turn, benefits both the ath letes and the corporations that advertise them. India represents a large number of sports brands, both domestic and international, that work togeth er to support and promote Indian athletes through sponsorship deals. The
The Indian sports business is one of the most adored and highly valued forums for social connections. In today’s media culture, sports dignitaries are viewed not only as sportsmen, but also as social influencers with ideological ideals and cultural connotations that best highlight the affinity of individual personalities and elicit inclination and desire for their personal poise in sports marketing. Sports events engage the audience’s hearts and minds, resulting in a plethora of viewpoints. The concept of athlete branding and sports marketing has evolved into a multi-functional part of marketing and endorsement.
Author: Kalpesh Khandare Symbiosis Institute of Management Studies, Pune
Athletes and companies have a long history togeth er, which has heightened their bond throughout time. As a result, sportsmen serve as a platform for promoting and advertising popular companies and products. Players are viewed as the embodiment of perfection and idols by die-hard fans, which boosts the appeal of the athletes’ sponsored brands. For an athlete, sports marketing is the art of increas ing fan knowledge and loyalty, enlightened values and standards, and compelling relationships. Ath letes can build their own personal brands outside of their sporting history since they are seen as cultur al artefacts that can be sold as brands. Additional ly, several of the best sports marketing firms in the world, like Nivia, Cosco, Adidas, PUMA, Tyka, and others, are based in India and compete with global heavyweights. Athletes are given the op portunity to create their own unique brands inde pendent of their sports history since they are seen as cultural artefacts that may be sold as brands. In ad dition, India is home to some of the most successful sports marketing firms in the world, like Nivia, Co sco, Adidas, PUMA, Tyka, and others that compete with global heavyweights.
Brand Partnership in Sports Marketing 3
to a slew of small and large-scale sports equipment and product manufacturers. Pro ducing a variety of sports goods such as athletic ap parel, helmets, rackets, sports shoes, balls, and other items to meet the needs of fans and athletes is a sig nificant business in India. Many Indian companies have soared to prominence and are now as appeai ing as the multinational brands promoted in India, such as Adidas, Nike, Puma, and Reebok. It is a German multinational corporation founded by Adolf ‘Adi’ Dassler on August 18, 1949 as Adidas AG. As a result, the corporation bears his name and is one of India’s most well-known sports companies. Adidas signed a licencing arrangement with Bata in 1989 and began operations in 1996 with the for mation of Adidas India Marketing Pvt. Ltd. Sachin Tendulkar quickly became its brand ambassador, further empowering the brand. India is a significant growing market, and the brand is already a huge suc cess in the country. It promotes and manufactures a variety of sporting items for a variety of sports, in cluding football, basketball, cricket, baseball, golf, tennis, kabaddi, and others. It manufactures a range of sporting goods for both amateur athletes and everyday people. Adidas was an authorised sponsor of the Pune Warriors in 2011 and 2012, in addition to sponsoring the Mumbai Indians from 2008 to 2014 and the Delhi Daredev ils from 2008 to 2013. Apart from that, Adidas has backed the Indian Olympics by offering athletes a number of lucrative deals. One recent example is when Hima Das, the golden star, was granted an endorsement agreement by Adidas India. Its goal is to provide high-quality athletic equipment that will help athletes perform better while also promoting awareness and encouraging youngsters to partici pate in sports. It is an American global firm that specialises in athleisure design, development, production, and marketing. Nike is one of the world’s major manu facturers of athletic footwear and gear. On January 25, 1964, Phil Knight and Bill Bowerman started it. The brand was awarded the name “Nike” on May 30, 1971, and India had been home to it for more than ten years because of a seven-year licence agreement with Sierra Enterprises. It is a global sponsor of ma jor athletic teams and well-known athletes. Nike conducts business in a professional manner and sponsors Indian athletes. Since 2005, it has been an official sponsor of the Indian cricket team, as well as the Indian football team. ‘Just Do It,’ Nike’s trade mark, captivates the audience and underlines4
top-tier Indian and international sports brands with a lengthy history in the industry. The Olym pic Games are a massive sporting event that attracts a number of well-known and well-known brands that want to be involved and linked with the famous event. As a result, sponsorship agreements and ef fective sports marketing tactics are critical for en hancing the existing relationship between athletes and Indiabrands.ishome
the notion of never giving up. Puma and Reebok, in addition to these brands, have thrived in the Indian subcontinent over the last few decades and are among the best-sponsored Indian brands backed by athletes. They are linked to a va riety of domestic and international sporting events around the world. Athletes play an important role in the marketing and advertising of the brands men tioned above. At the same time, it’s not unexpect ed that these multinational names are more popu lar than Indian companies. Western globalisation has resulted in the creation of brands. And people should recognise the need of promoting them, of expanding possibilities for children, and of estab lishing concrete goals for them.
Athletes from India are supported by well-known brands from around the world. Their collaboration aims to empower Indian youth and effect positive change. It is a critical method for accelerating athlet ic improvement while also expanding opportunities. Sports culture is promoted by a number of brands. They use sportsmen as a vehicle to tap into hope fuls’ untapped potential and promote their brands. Advertising, for example, is the primary medium of sports marketing, illuminating crucialcharacteris tics of a brand in relation to players with the goal of building a strong sporting nation. The candidates’ abilities, on the other hand, are grossly undervalued by their family. Their potential has gone unnoticed. Brand marketing, on the other hand, gives opportu nity for everyone. They employ creative approaches to sponsor athletes and educate people in their best interests. Apart from sports sponsors, Edutech firms such as Byju’s and Unacademy also support Indian sportsmen, resulting in favourable outcomes for both parties. A significant audience is drawn in by the sponsorship deals. And it turns out to be a big success. Athletes and brands both benefit from the Takingspotlight.the recent Olympic games into consider ation, India projected a 228-member contingent. There will be 119 competitors competing in 18 sports. Top-tier brands funded the Indian contin gent to represent Indian sportsmen in the aftermath of the tournament. Puma is one of the many brands available. It supported 18 Indian sportsmen in vari ous sports like as hockey, table tennis, boxing, bad minton, and others, showing the country’s talent. Similarly, internet platforms such as moj aided the Indian team’s performance at the Olympics. The In dian Olympic Association (IOA) also endorsed 11 sponsors, including Inox, Raymond, Amul, Nippon Paint, JSW, SRL Diagnostics, MPL, and others.
In addition, Sony Pictures Sports Network served as the event’s official broadcaster, with 11 sponsors on board. During the game, several programmes were established to encourage and help athletes. Many news outlets, including ABP News and News18, covered the Indian delegation at the Olympics. The nation benefited from the hard work and dedication of all competitors and their supporters. Without a strong relationship between brands and athletes, the world of sports is dark and fractured. Without the presence of either, the Indian sports sector would not have been the same.
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It has resulted in significant changes in the sports world as a whole. From the ground up, the two have achieved the pinnacle. And they’re still looking for a method to turn India into a powerful athletic na tion. Neither the sportsmen nor the brands gave up their hard effort in the face of the pandemic. Fur thermore, they were outfitted in front of the 2020 Olympic Games. show an interest in sports other than cricket. In a context of national pride and pa triotism, the other sports are gaining popularity and drawing marketers. The Olympics served as a catalyst for the rise of both athletes and brands associated with each other. The degree of interest from brands in sports sponsor ships surpasses that of prior Olympic games. The major goal of the initiative is to evolve and promote sports in India. It is an important tool for increasing athlete awareness and opportunities. Nonetheless, Indian sports have developed as younger hopefuls
The backbone of the Indian sports sector is the ev er-evolving partnership between marketers and athletes. The two have a good working relationship. Brands want to be linked with more than just high er recognition and medal opportunities. They do, however, form an unrivalled support structure for Indian athletes. They are thinking about more than just making money. They collaborate to identify ex cellent opportunities to elevate the nation.
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Overcustomers.thelast five years, corporations have partnered with social media influencers across platforms to in
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Continued Rise of MarketingInfluencerAuthor:MohammedHaveliwala
S.I.E.S College of Management Studies (SIES), Mumbai
We are rapidly approaching the digital era. Nowa days, people are constantly swiping through their smartphones. For many people, social networking has become a need, and not a day goes by without them checking their accounts often. With the rising usage of social media, a new sort of digital marketing called Social Media Influencer Marketing has gained popularity. Social media in fluencers are everyday people who gain online ex pertise for their knowledge and experience in a par ticular field such as food, fashion, technology, travel, education, reviews, music, movies, or sports. They often make and post photographs, videos, and other updates on their social media pages/profiles per taining to their area of expertise, and other people follow them for their content. Nano, Micro, Macro, and Mega influencers are classified according to their number of followers and average interaction on their pages. An influencer can be anyone, from a fashion blog ger on Instagram to a wedding photographer on Pinterest to a Twitter cyber-security professional. Nowadays, influencers use a range of social media platforms to promote or represent brands, including YouTube, Instagram, and TikTok. Influencer marketing is gaining popularity as a cost-effective alternative to celebrity endorsements. This form of marketing may prove to be extremely beneficial in terms of developing a long-term rela tionship with clients for businesses trying to expand their customer base and convert them into loyal
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Content creators were compared to traditional celebrities by interviewees. Popular content cre ators were recognized as having the potential to become celebrities. But were particularly regarded as an attainable celebrity. Influencer were seen as approachable and realistic, but traditional celeb rities were seen as unachievable and out of reach.
A study was conducted to throw light on various aspects of influencers and their content that drives consumer self-concept and purchase intentions.
Sponsorship is inevitable: Sponsorship is seen as inevitable; as long as it is revealed and not overdone, sponsorship is neither loathed nor appreciated, nor is it a reason to cease watching a creator’s work. If the information on a blog or a vlog is entertaining and attractive, it is also viewed favourably. Entertainment is more vital for vlogs, according to interviewers, because it is necessary to hold the audience’s interest and build a connection with the creator through ongo ing Today’sviewing.consumers are more knowledgeable and aware, and they can discern the difference between an endorsement and a genuine recom mendation. Brands that use influencers without considering the fit between the influencer and the brand narrative are more likely to be perceived as fake. Influencers can be employed as facilitators to establish empathy, relationships, and connections with consumers, according to this research. Per sonal relevance, however, is more significant than peer influence, thus finding the right influencers for a specific product category is critical.
New form of Celebrity:
Influencers were seen to be famous for being themselves. People identify with influencers more than celebrities, since influencers are perceived as ordinary people. As a result, consumers love their endorsement and are more likely to buy the goods.
Stage one of the study involved was a qualitative research to identify key enablers of consumer trust in and stage two was to conduct In-depth interviews with namely Generation Y (28-35 yrs.) and Genera tion Z (18-23 yrs.). The prominent enablers of consumer trust in influencers were found to be personal relevance, authenticity, expertise, originali ty that develops between the consumer and the Someinfluencer.important
Nowadays, customers want to seek recommenda tions from other consumers and influencers in order to make an informed purchase decision. As a result, influencers (also known as content creators) are more important in moulding consumer impressions of a brand’s products or services, as they are per ceived as more legitimate than advertising messag ing or celebrity endorsements. Consumers place a higher premium on peer recommendations than on celebrity endorsements.
findings from the research includeVlogs are the new search engine: The majority of the interviewees were video content viewers rather than image viewers or blog readers. Some interviewees were actively seeking informa tion (like Google) and identified content creators who could provide it.
crease exposure, and influencer marketing has grown from a $5-10 billion dollar auxiliary marketing ap proach to a $5-10 billion dollar industry. According to research firm A. C. Neilsen, influencer marketing generates higher returns than digital marketing.
#BUZZFEED 11
Zomato offers Rs. 25 lakh for consumer created ad
Razorpaylatter.
Acquires Ezetap
#BUZZFEED 9
Payments platform Ezetap has been purchased by Indian fintech firm Razorpay in a deal valued at between $150 and $200 million. It is the biggest acquisition Razorpay has made to date. With a tiny amount of stock, the sale is primarily in cash. Abhijit Bose, the current CEO of WhatsApp India, and Bhaktha Keshavachar founded the offline PoS (point of sale) business Ezetap in 2011, which has streamlined the offline payment process. In 2013, Ezetap released their first product for less than $50. The company’s current solution allows all payment methods, including those based on cards, mobile wallets, biometrics, QR codes, and even payments made through messaging applications. It works with every hardware. Companies like Pine Labs and Mswipe compete with Ezetap. Ezetap’s application in physical places makes it appealing for Razorpay, a payment gateway and neo-banking platform. According to CEO and co-founder of Razorpay Harshil Mathur, a significant portion of the internet business is conducted offline. To build this single, integrated platform, Razorpay will use the Ezetap tech stack. The 300 workers of Ezetap will join Razorpay but will work independent ly under the
Zomato is proof that they can turn criticism into a super innovative marketing campaign. After con sumers. After consumers expressed their growing boredom with Zomato’s monotonous YouTube and TV ads, some users took to social media to criticize Zomato’s butter chicken ad. However, Zoamto seems to have played its cards well by coming up with a smart idea to help it come up with fun cam paigns while engaging with their customers. The firm went all out, proclaiming that the ads do suck. So now, it has opened the floor for creative ideas from customers. What was commendable was that, apart from the novel idea, they also shared the feeling with their customers that made them win many hearts.
1014#BUZZFEED
“We recommend that you take action early to migrate from IoT Core to an alternative service. As an initial step, connect with your Google Cloud account manager if you have questions about your migration plans,” the company advised. IoT Core Services were introduced by Google Cloud in 2017 to make it simpler to transfer data from connected devices to a company’s cloud environment.
11 Google#BUZZFEEDCloudIoT:ShutdownCustomershaveuntilAugust2019toswitchtoadifferentIoTproviderafterGoogle
Cloud said it will be discontinuing its main IoT services. Microsoft and Amazon Web Services (AWS), com petitors of Google Cloud, also provide comparable IoT services. While Amazon Web Ser vices (AWS) offers “IoT Core,” Microsoft’s Azure cloud platform also includes “IoT Hub.”
IoT Core may be used by businesses to specify the configuration options for recently installed con nected devices. IoT Core is a completely managed solution, according to the business, that enables you to securely connect to, monitor, and ingest data from millions of widely scattered devices.
“Google Cloud’s IoT Core Service will be discontinued on August 16, 2023 at which point your access to the IoT Core Device Manager APIs will no longer be available,” Google Cloud’s IoT Core Product Team said in an update.
12#BUZZFEED
The Indian authorities and fitness ministry persevered to push for more potent restrict of the marketing of tobacco and liquor till its eventual entire ban. However, the growth in populace noticed the income of tobacco and liquor growth at an exponential rate. The marketer’s process is to create cognizance for its logo with out even being noticed as the forbidden product. Therefore, businesses had been compelled, to are looking for opportunity method of mar keting, which lead the eventual introduction of surrogate marketing in India. . Such companies usually either go for brand extension and promote the extended products, or promote certain products which might not be available in the market, and Surrogate advertising is simplest of them.
13 gerous to a person's intellectual fitness, making them lazy and unmotivated. It is likewise cause for many different social troubles like domestic violence, Child Abuse, and developing poverty via way of means of causing the excessive sicknesses like varieties of cancer. The fee of treating that's insufferable to an average Indian family. The mixture of those elements ultimately leads to complete ban on marketing of those merchandise during. However, the negative sentiments on marketing those merchandise may be located lengthy again given that 1975, whilst the Indian authorities delivered the Cigarette act, forcing tobacco businesses to show danger warnings at the packaging and classified ads for cigarettes.
Surrogate Marketing in India
Many of you've must have come across the current information article bringing up Ak shay Kumar stepping out from being the Brand ambassador of Vimal Elaichi after going through huge controversy and backlash from fanatics on social media. He additionally need ed to an express regret by apologising on so cial media platforms to his fanatics for selling the pan Masala. His image has always been of a health freak. In past he has additionally re garded withinside the Ad campaigns opposing the Tobacco consumption and promoting and selling womens’ hygiene products. The Excuse that he got here up with this time is that he campaigned for Vimal Elaichi and not the Pan Masala. This has drawn the eye of his fans in the direction of forgery in Ad campaigns also known as Surrogate Marketing. It’s a type of Marketing wherein prohibited merchandise are promoted beneath the cover of different socially commonplace merchandise and ser vice. India has held a sturdy stance at the ban of marketing and marketing tobacco and liquor merchandise since that decades. The ban be came enforced after distinct studies via way of means of numerous studies which located that cigarettes, Tobacco and liquor have detrimen tal results on a person's fitness.
In addition to this, the Indian authorities trust that those merchandise are in particular dan
RishabhAuthor:JagreIIMRaipur
Here14 is a listing of a few important examples for same. Royal Challenger, that's a famous IPL group and mineral water logo is used for brand ing of Whiskey. Similarly Imperial blue which disguises as CD-DVDs, sell Whiskey. Vimal and Rajanigandha are absolutely a Gutkha, however branded as Elaichi and mouth fresheners. Carls berg glasses seems on televisions as glass logo, truly promotes the alcoholic beverage. Officer’s choice a whiskey, is branded as playing card, partying as the primary theme. As in accordance with the information in public domain more than 80% of people are clever suf ficient to identify the real merchandise in sur rogate advertising campaigns. Which do truly influence consumer's shopping for selection via way of means of informing purchasers approx imately the supply of those Products. Although governments are aware about those campaigns and endeavouring to impose ban on such cam paigns, it isn't viable as maximum of the adver tisements do nowhere point out the real mer chandise. If nevertheless dared to do so, it can create havoc in Advertisement enterprise and blame game will initiate. It will shatter the con fidence in Tobacco enterprise. So, the authori ties’ and officers do send notices to these firms however no tangible actions are taken. As long as intake of those merchandise are accepted in India businesses will manufacture it. The com petition being tough, advertising is a vital part of efforts being taken by the Marketers via way of means of businesses. Brands cannot sustain without being marketed. So, no matter in spite of being the debatable and controversial con cept, it's miles the perfect manner out for such manufacturers. Without Surrogate Marketing, such manufacturers can't enlarge their market place at the sort of big (National) level and that’s the essence of Surrogate Marketing, it makes the difficult task easy. This is why it's going to live right here between us as long as the tobacco and
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MARQUE - THE MARKETING CLUB INDIAN INSTITUTE OF MANAGEMENT ROHTAK marketingclub@iimrohtak.ac.in DISCLAIMER: The views and opinions expressed in this magazine are those of the author and do not necessarily reflect the opinion of the stake holders of IIM Rohtak EDITOR : Ivanna, Soumika DESIGN : Rajan FOLLOW US ON :
