Marque, The Marketing Club - July Edition by Marketing Club

FROM THE EDITOR Welcome to the very special edition of Marque magazine. I am 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 July's edition revolves around changing world of advertising, marketing automationand much more. I extend my warmest gratitude to all the authors for their interest, enthusiasm, and well-documented submissions 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 perspective. We, the editors, will always strive to keep you engaged.

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CONTENTS 01 BoAt on footsteps of OnePlus: The Marketing Similarity

03 rketing Automation - Prepare for the future

07 Buzzfeed

05 The Mega Modi Brand

11 Experiential E-Commerce

13 Marquing The Moments

BoAt on footsteps of OnePlus: The Marketing Similarity Author: Arjun Narula Punjab Engineering College (PEC), Chandigarh BoAt is one of the most incredible brands in the Indian start-up ecosystem and the most astonishing thing about this company is that within just five years they have achieved such a strong position in the market that if you look at the true wireless stereo market as of 3rd quarter of 2021 BoAt stands way ahead of its competitors with a market share of 3.8% and the revenue of the company has already crossed fifteen hundred crores in FY21 and the profits have already shot up by 61% since FY20. Considering the fact that BoAt is now going for an IPO the question is how did BoAt achieve such an extraordinary position in the crowded hearable market of India? What exactly was their business strategy and What are the marketing lessons that we could learn from BoAt?

One of the most important reasons for BoAt’s success is its genius market positioning and if we look at the rise of BoAt, it is very similar to the rise of OnePlus phones in India. At one point in 2019, OnePlus was selling more phones than Apple and Samsung combined, now the question is in spite of the phone market being so crowded with Vivo, Oppo, Samsung, Huawei, and Apple how did OnePlus become a legend?

The answer to this question lies in its pricing chart. If we look at the pricing of phones in India back in 2019, iPhone was the costliest with a pricing of 85000 rupees followed by the Samsung S10 priced at 55000 rupees, and then straight away we had Oppo, Vivo, and other companies that were primarily focused on selling phones below 25000 rupees. Although they had costlier phones, in India the focus of these companies was more on 25000 rupees and below price range. Now one can notice that there is a huge gap that's left out between 25000 rupees to 55000 rupees which was the most premium unaddressed and more importantly a large audience that was left untapped. Here's where we saw the rise of the OnePlus 7 which was priced at 35000 rupees positioning itself exactly in between 25000 to 55000 rupees price range. On top of it OnePlus built a crazy level of aspirational value for its brand because of getting endorsed by none other than Robert Downey Jr, when the Avengers Endgame was about to release in 2019. Knowing the insane fan base Robert Downey Jr has in India this aspirational value is something where its competitors lagged because of which OnePlus won a huge market share in India in 2019. It is not being claimed that everyone bought OnePlus phones because of Robert Downey Jr but the fact is that the aspirational value that Robert Downey Jr’s endorsement got to OnePlus got enough people to see it as a premium brand. Due to which it got enough people to buy the phone after that when people saw that the tech was genuinely the best that you could find in that range, it eventually led to positive word of mouth and hence OnePlus 7 became one of the best-selling phones in India in 2019.

What does OnePlus’s position have to do with BoAt? rities endorsing why would someone buy earphones? Customers are smart enough to make a good choice Well if we look closely after apple introduced the without endorsements as well. AirPods in 2016 three important things happened in the exact same year. There was a sudden boost in the The answer lies in some basics of marketing, the cusfascination with wireless earphones, the JIO wave tomer knowingly or unknowingly determines the hit India in 2016 that led to the skyrocketing of the value of a product based on two types of values tanscreen time of Indians, and most importantly many gible value and perceived value. Tangible value is the phone manufacturers stopped shipping earphones real value of the product as in if the audio sounds along with their smartphones, and even if they did great in one earphone it has a great tangible value. these earphones were the most basic versions in the Perceived value as the name suggests is basically the market. judgment that you make based on how the product is portrayed. For example, if a restaurant looks All these three factors created a huge market for the lavish, we subconsciously assume that it has a clean hearable in India so from 2017-18 onwards. Many kitchen. In our case about audio devices especialcompanies started jumping into the hearables mar- ly earphones the fact is that only trained ears as in ket and if we look at the pricing charts of the most only the people who are involved in video editing or popular brands in 2018. First, we had the ultra-pre- sound editing can actually spot the intricate differmium wireless earphones category wherein we had ences in audio whereas our ears will not be able to Bose and Apple that had a base price of 17000 and tell the difference in audio quality between two de15000 respectively, then in the premium catego- vices. As a result, we can barely spot the difference ry that is between 10 to 15k, we only had JBL as a between the two products, THUS the entire audio significant brand with its pod version being priced market from the customer standpoint is practically at 10000 rupees, then for sub-premium that is be- commoditized and since there is no added tangible tween 5000 to 10000 we had Sennheiser's wireless value to the product that we can spot, the only valearphones that started from 6400 rupees onwards. ue by which we will judge an audio product like our Again below 5000 rupees there was no giant brand phone is by perceived value so if two earphones are and yet there was a huge demand for wireless ear- placed one of some random brand and the other that phones in India and this is where we saw four brands is being endorsed by Hardik Pandya we are more come in Mivi priced at three to four thousand ru- likely to trust the latter than the former even if we pees, Skull candy priced at 2000 rupees onwards we are not a die-hard Hardik Pandya fan. So, the only had BoAt rockers at 1999 rupees and then we had delta that inclines us to purchase a product like our Noise shots priced at 3999 rupees. At last, we had phone is the perceived value of the product. several local brands including Bolt that were priced at 999 rupees and below. Now the question over here This is the power of building a perceived value in is with these four competitive brands what was so a crowded commoditized market this is the reason special about BoAt that it is now the market leader why BoAt obsessively focuses on presenting itself by such a huge margin? as a lifestyle brand to build an aspirational value for itself both with endorsements and design so afWhile Skull candy was only popular among enthusi- ter Hardik Pandya they also roped in Rishabh Pant, asts and a very limited segment of the audience. The Shikhar Dhavan, Jasprit Bumrah and Prithi Shaw in other brands like Mivi and Bolt were barely known 2019 followed by Neha Kakkar, Kiara Advani, and in the market whereas BoAt had become far more Karthik Aryan. BoAt also collaborated with celebrity popular because they had roped in Hardik Pandya designer Mazhaba Gupta to launch a limited-edition in 2018 and this is where the power of celebrity en- collection of spunky headphones at the Lakme fashdorsement comes in just like Robert Downey JR's ion week 2020 and now they're also collaborating endorsement brought in an aspirational value for with Beera which is again one of the most favorite OnePlus, Hardik Pandya's endorsement by default millennial brands in India. This is how just like Onebuilt an aspirational value for BoAt as a brand. As Plus was able to present itself as a far more premium a result, in the two to five thousand rupees category product through its collaborations, BoAt has been BoAt became far more familiar than its counterparts. able to build the same aspiration value to stand out Now it could be argued that just because some celeb from the rest of the crowd.

Marketing Automation Prepare for the future Author: Akshay Bangera Indian Institute of Management (IIM), Udaipur Modern consumers are proactive, well-informed, and acutely conscious of the various advertising and marketing techniques that companies use to attract potential customers. At the same time, new technologies enable potential customers to protect themselves from the majority of outbound marketing initiatives successfully. Once-reliable marketing channels have been significantly impacted by online ad-blocking software and non-ad-based music services, making it challenging for advertisers to reach the consumers who support them financially. Today the Digital Technology disrupting the marketing industry but artificial intelligence can provide solutions to this problems.

Marketers have a golden opportunity to create a highly accurate customer profile by combining past purchase data, social tracking, and user behavioral attributes. Moreover, brands will be able to move beyond segmentation and personalization into hyper-personalization and predictive recommendations by understanding user preferences and buying habits. The key ingredient in marketing efforts will be personalized content. It can assist brands in increasing their customer loyalty index and preventing the business from being lost to competitors. The real challenge will be creating and executing hyper-personalized campaigns on a massive scale. A Marketing Automation strategy that integrates seamlessly with online and offline businesses and Need for Marketing automation collection of user data at various points will be critToday's demand for personalized content is not sur- ical in this case because it will allow companies to prising. In 2022, context will become a more critical personalize large-scale campaigns easily. factor in business growth. Today's world necessitates just-in-time messaging, which sends the right mes- AI in Marketing Automation sage to the right person at the right time, wherever In the future, we expect the market to be more comthey are. To put it another way, messaging is both petitive, leading to the creation of additional cusmulti-channel and contextual. Consequently, mod- tomer journeys and increased levels of personalizaern marketing requires a multi-channel, highly con- tion. Artificial intelligence will be necessary because textual marketing strategy. it will be challenging for marketers to manage such a large volume of work. When combined with marketing automation, this technology has the potential to provide some pretty revolutionary benefits. It can enable marketers to gain in-depth knowledge on where to focus their efforts and how to fix programs that are not performing as expected. The use of this technology will make it possible for marketers to fine-tune their campaigns and expand the scope of their efforts, leading them to discover new opportunities that they had not previously considered. Models for dynamic websites, product recommendations, self-optimizing campaigns (where the model determines the best treatment from a multivariate test for each customer), and personalized messaging via

chatbots are all examples of AI in personalization. What’s more, there are a lot of advantages that come along with using AI for programmatic advertising for digital marketers. AI can help predict campaign

for helping people write texts, but it lacks true common sense and can be fooled into saying things that are biased and incorrect or making simple mistakes that a typical person would never make. Market and Customer Sentiment Analysis Measuring marketing campaigns requires analyzing

results for different audiences by performing indepth analysis of data in real-time, adjusting bidding strategies to maximize return on investment (ROI), and appropriately matching content to audiences to maximize relevancy. When creating campaigns, marketers can also use AI to make content recommendations to customers. The tone of voice recommendations and image recommendation use cases at the center of the application's use cases. AI, when used effectively, can help address the major problems faced by marketers. Here are five marketing advantages made possible with artificial intelligence marketing: Efficient Chatbots One of the most intriguing applications of AI in marketing is chatbots. Chatbots are used by businesses in a variety of sectors to automate a significant portion of customer communications. The chatbot market has experienced impressive growth in recent years and is expected to reach nearly $1.25 billion by 2025, thanks to its capacity to engage in real-time conversations with customers and respond to their requests quickly and effectively. Content Generation AI can be a helpful tool for producing content. Natural language generation software is used by AI-based content generators to take structured data and turn it into texts that, in some cases, are difficult to tell apart from those written by humans. The GPT-3 language generator by OpenAI, which has 175 billion parameters and was trained on 45 TB of data, was arguably the most potent one to date. GPT-3 is a fantastic tool

consumer emotions. To identify how people perceive a product, service, or brand and emotions, sentiment analysis is used. It employs machine learning and natural language processing. Tracking social media conversations, emails, online reviews, and survey results can be useful tools for marketers to better understand how the public feels about their brand. Customer Engagement predictions Not all leads will respond favorably to the same marketing efforts, even among the qualified ones. Here, AI can be trained using the data to predict, which customers are not likely to engage as well as the best way to approach every client. Marketer productivity The fact that AI and marketing automation relieve marketers of many of the tedious tasks related to their position is one of their most advantageous features. Marketers can concentrate their skills on more important issues by relegating repetitive or time-consuming tasks to artificial intelligence programs. As a result, marketers are more productive, and marketing is more successful. Conclusion Even though artificial intelligence and automation have similar origins, their goals are not the same. Automation can help you automate repetitive tasks, and AI can help you learn critical information from data and produce solutions without human intervention. When marketers combine marketing automation with artificial intelligence (AI), they can go beyond simple automation rules and into marketing orchestration.

The Mega Modi Brand Author: Hrishika Sharma VIT Tech entrepreneur Elon Musk once remarked that ‘brand is just a perception, and perception will match reality after a time’. Whether that reality will ever be attained in our lifetimes is something a lot of us are always sceptical of, given the tall claims marketeers trumpet. However, one particular brand which has cumulatively generated more heated discussions than any other is of course ‘Brand Modi’. In the coming years as well, Brand Modi will remain one of the key ingredients for case studies. Marketing gurus Al Ries and Jack Trout in their eternal classic ‘Positioning: The Battle For Your Mind’ called the 80s an over-communicated era. And that was before the internet! The basic approach of advertisement is not to create something new but to manipulate what is already there. When you’re dealing with an audience with an attention span of a few seconds, it becomes crucial to put your message in simple, clear terms, sometimes with a rhythm to the way it sounds. ‘Bahot Hui Mehangai Ki Maar, Abki Baar Modi Sarkaar’. Simple. Poetic. And memorable. VAT was replaced by GST, which is one of the most complicated financial reforms in the world and is made even more complicated by the quintessential Indian redtape. However, ‘GST- 1 nation, 1 tax’ doesn’t sound as complicated, does it?

2016 reminds us of people standing in long queues and the unavailability of money in the ATM. But did anyone notice when the word ‘black money’ got traded for ‘digital’? It is perhaps ironic that Congress’s campaign couldn’t have been more different. Compared to the simple messages of Modi, all they could come up with was ‘Sashaktikaran’. How would the Congress have named ‘Swachch Bharat’? Something in the lines of ‘Rajiv Gandhi Swachchata Yojna’? As for Swachch Bharat, how Bharat will become Swachch nobody really knows. The logistics, the challenges, the cash-strapped mayors, the list is endless. But, ‘Swachch Bharat’. Short. Simple. Even inspiring? The second gospel is about the easy way to get into the mind’ which is — “getting there first”. Humans love the first, even if they later turn out to be monumental episodes of stupidity. Think about it, the first date, the first love, the first man to walk on the moon. And the first leader to talk about bullet trains? The first leader to use social media as a battleground? The first leader to bypass the media with ‘Chai Pe Charcha’ and ‘Man Ki Baat’? In contrast, Rahul Gandhi didn’t even have a Twitter account until 2014. Congress’ proposition was the same old Bharat Sarkaar, slow and bureaucratic. Clinging to the same issues like electricity and power supply, they seemed quite refractory towards innovative ideas. Modi was the first to capture the ‘anti-establishment’ space, and he’s held on to it firmly, thanks to our lacklustre opposition, the legacy of UPA, and the image of the Nehru-Gandhis. Modi actively positioned himself as the ‘anti-establishment’ guy. After all, he was the perfect role model for small-town India unlike the leaders of other parties who had an influential lineage. Humble roots, tired of 70 years of inefficiency, outspoken, “un-presidential”.

On one hand, we had Manmohan Singh, who was a mere puppet in the hands of the Gandhi family. Then there was Modi, building an image of autocracy along with efficiency, and realised no one in India cares about the former, as long as buses run on time, power never goes off in homes, and taps never run dry. In a similar spirit- you had ‘secular Congress’ versus the first leader to openly flaunt his ‘Hindu nationalist’ cap. Whether Ganga Aarati or the Ram Janmabhoomi’s foundation stone, Modi did it first, and others are still playing catch with Janeudhari tags. And with it comes the third gospel-look for the void. Or as the French call it- Cherchez le Creneau. The best way to get noticed is by standing out.

Remember the time when Airtel and Vodafone ruled the market? Then Mukesh Ambani came up with Jio. Calls and SMS free of charge, Jio charged only data and made it cheap. Data was their selling point. Jio challenged the conventional wisdom of the industry, but then it conquered. Politics is no different. While other parties focused more on the minorities, Modi walked hand-in-hand with the majority instead. In the coming years, we saw another master-

stroke as Modi again swept up the ‘nationalist plank’. While almost every political party barring Modi’s, condemned the happenings in JNU, it was the BJP who went blazing guns against the anti-nationals. With the Uri and Balakot strikes, in no time, Modi was India’s one-man-army. Whether these actions have changed incidents along the border is immaterial, but compared to the UPA which was caught off-guard in 26/11, despite Pathankot, Modi projects an image of strength. The North East has been a pariah in terms of political and economic representation for a long time. Modi visited these places with the same enthusiasm as he did visit his constituents in the Hindi heartland. Once again, it was Modi versus those who’d ignored the North East for decades. With the rise of social media trends and the technology boom, Modi was keen to exploit it to its fullest advantage. In came UPI payments and public grievance apps. Not to miss out on the numerous Twitter posts with a myriad of hashtags. But to maintain one’s position, especially in India, it is equally important to be mindful of the traditional beliefs of the old. Declaring that Lord Ganesha is the proof of ancient India’s knowledge of plastic surgery, who could have done it better than brand Modi. The unspoken rule of publicity has always been to first insult the past ideas, then propose your ideas. History has been witness to the fall of Aspirin due to Tylenol. In other words, repositioning the opposition itself. No one quite manages to do it like Modi. While positioning himself as the ‘reformer’ it is surprising the number of times Modi has managed to own policies brought by previous regimes while making the opposition come across as the ones resisting the change. The very party which boldly accused Congress of electoral manipulation by offering subsidies has been observed doing the same this time. While the BJP vehemently opposed the launch of MGNREGA or Aadhar card during their time as opposition, they were the ones who implemented it with greater effect. The sustainability of any brand depends on its past, present, and future perception in the market. It is an equation of demand and supply. Ever since his return to power, Modi has been willing to push through amendments and reforms with brute force. The farm bill fiasco has only added another nail to his sinking coffin, painting him as Napoleon. The Modi versus everyone includes external opposition as well this time and it wouldn’t be wrong to say that BJP is slowly losing its “charm” over its most coveted possession- Modi. But again, a signature product is always a trophy for any brand. Eureka Forbes is known for the aqua-guard. Nestle has Maggi. Cadbury has dairy milk. And BJP has Modi!

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Audi-powered electric rickshaws Zomato offers Rs. 25 lakh for consumer created ad

Electric three-wheelers are being introduced for Indian roads by the German-Indian startup, Numan. The fact that these EVs are fueled by recycled batteries from electric vehicles gives them a special distinction. Utilised batteries from the Audi e-tron test fleet are used in the prototype cars. According to Audi, the project's goal is to investigate potential applications for these high-voltage electric car batterZomato is the proof that they lives can turn criticismThe intoproject a superalso innovative campaign. After con- in ies when cars' useful are through. hopes tomarketing open up employment prospects sumers. After consumers expressed their growing boredom with Zomato’s monotonous YouTube and India, particularly for women. The non-profit firm with offices in Berlin and Bengaluru and funding TV ads,the some took to social media to criticize Zomato’s chicken ad. However, Zoamto from Audiusers Environmental Foundation is responsible forbutter creating the electric rickshaw. Under the seems to have played its cards well by coming up with a smart idea to help it come up with fun camfirst-ever collaboration between Numan, Audi AG, and the Audi Environmental Foundation, three paigns while engaging with their customers. electric rickshaw prototypes have been created. The went all out, proclaiming that the ads do suck. So charged now, it has opened the for creative As afirm buffer storage unit, a used Audi e-tron battery will be throughout the floor day using solar powideas from customers. What was commendable was that, apart from the novel idea, they also er charging stations. And in the evening, power is passed on to the rickshaws. According to shared Audi, this the with their customers that made them win many hearts. willfeeling essentially carbon-neutralize local rickshaw driving.

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Aston Martin: New Logo In order to further accelerate its expansion among the new audiences, British ultra-luxury company Aston Martin today unveiled an updated version of its famous wings as well as a new creative brand strategy and worldwide marketing campaign. The strategic repositioning reinforces Aston Martin's position at the top of the performance ultra-luxury class and represents the brand's greatest investment in more than ten years. The manufacturer's design team worked with renowned British art director and graphic designer Peter Saville to develop a modern update to the famous wings as part of the dramatic overhaul, which also features fresh visual and linguistic expression. Marek Reichman, Executive Vice President and Chief Creative Officer, Aston Martin, said, “As we approach an exciting moment of product evolution, the design of the new wings was no different. Every millimetre of each line - of each shape within the new wings, is drawn forward from the depths of our 109-year Aston Martin creative wellspring”.

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Experiential E-Commerce Author: Ajeet IIM Jammu Abstract The year 2020 has been a turning point for most businesses. There has been a significant impact of the pandemic on the retail sector. Although brick-and-mortar shops have been declining ever since the advent of e-commerce shopping platforms, the pandemic has just accelerated this decline of physical retail stores the world over. To give the data, there has been a trade of $4 trillion via e-commerce platforms in 2020. Also, there have been 150 million new shoppers who came online in 2020. This article will discuss how e-commerce companies can impact customer touchpoints through experiential e-commerce. Introduction The advent of new technologies has played a crucial role in bringing a traditional retail business to an omnichannel retailing platform. The internet has played a crucial part in bringing this change. Focussing on the Indian context, we can observe that the valuation e-commerce industry in our country is growing through each passing year, and the competition in the sector is also getting cutthroat.

If a company wants to emerge as a dominant player in the market, adopting the experiential e-commerce approach could be one way. The concept of experiential e-commerce is not new to the Indian market, as many companies are already providing such facilities to consumers. For example- the optical prescription retail chain "Lenskart". So, what Lenskart does is that it provides a 3D try-on feature to its customers where they can try thousands of frames on their faces and compare the look. This feature gives the idea of how a particular frame looks on the customer's face. Experiential e-commerce This is a customer-centric strategy where the brand strengthens its relationship with the consumer by providing him/her with a virtual shopping experience. The primary focus of this strategy is to provide the customer with a holistic shopping experience rather than an online store. The Coronavirus pandemic has only accelerated this process through which companies are looking for new ways to interact with the customers and give them this unique shopping experience.

Need of experiential e-commerce? At present, most e-commerce platforms provide requirement-based services to their customers, and this is the primary reason why there is a need of changing traditional e-commerce into experiential e-commerce. Because currently, the customer can only see the products they want to buy. The touch & feel factor about how a particular product would look when they try it out is missing. Hence the need for experiential e-commerce arises. For instance- if a customer wants to buy a new jacket from Myntra, he/she will have to type that in product search and could choose the product from the given offerings. However, if the customer could have a try-out of the product virtually to check how the product fits? How would it look on him/her? Colour preferences etc. this would undoubtedly be a game-changer in e-commerce as this would provide customers with an in-store experience.

In this way, the customer can get a 360-degree experience of buying the product. However, all the virtual showrooms that exist right now are rudimentary, but the arrival of the metaverse platform could very well change it. With its 3D hologram projections, Metaverse can give a customer the same experience that he/she gets from shopping in local grocery stores/mega marts etc. Many of the companies have already been adopting this platform. For example- Walmart is using Metaverse for selling its product. The unique thing Walmart has done in the platform is that they have employed AI assistance in the form of human hologram projection to help customers in shopping. The human hologram projection plays a pivotal role because we as humans need reinforcement about the decisions we have made. This AI feature help customer identifies what product they should buy or not buy. Apart from that, Metaverse will allow brands to offer consumers a highly personalised shopping experience. Metaverse will also help the company collect and optimise the customer data to improve its product offerings.

Implementing experiential e-commerce The primary driver in implementing experi- Challenges in implementing experiential e-commerce ential e-commerce is technological innovation The major challenges in the implementation of such an inilike- AR, VR, IoT, Cloud platforms etc. tiative are•Since the initial investment amount required in this platVirtual Showrooms- This is a platform where form is high, only a few customers will be willing to opt for it the company has taken its product offering into (The prices of VR headsets are relatively high, which would virtual mode. This does not imply that the com- be a limiting factor). pany would close its physical stores. It means •Also, since only influential customers would be able to use the company would also be selling their prod- this platform, there is a chance that the product offerings ucts in virtual stores. would cater to their needs only and not to that of an average customer. Even the data collected via such platforms would be biased because it has only taken preference of only one market segment. •Another challenge would be the data privacy of the customers. It would be very difficult to ensure the customers' data security because we have seen cases in past of these tech giants storing their customer's sensitive information for the company's gain. Conclusion To conclude, I would like to state that the ultimate aim of any company is in the fulfilment of customer satisfaction. Since most customers are now choosing e-commerce platforms to purchase the products, making these platforms more interactive and giving the customer a holistic experience would go a long way in fulfilling the company commitment towards customer satisfaction.

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