FROM THE EDITOR I am glad that the marketing club got the opportunity to use its monthly magazine as a platform for all the young marketing enthusiasts who are curious to let out their views on various topics. It gives me immense pleasure to write this message as Editor of this unique edition of the magazine. The theme of July’s edition revolves around the usage of technology and brand advocacy in marketing. The theme gives a sneak peek into the marketing practices of the new age. This edition has a lot under its umbrella, from bringing forward automation, psychology, and a blend of digital and physical experiences while drawing hidden inferences of marketing. 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 (we hope) 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.
CONTENTS 01 Bridging the Intention-Action Gap How Brands Can Involve Consumers in their Sustainable Journeys 04 Demarketing
06 Buyer Persona
10 Buzzfeed
14 Content Marketing
18 Marquing The Moments
BRIDGING THE INTENTION-ACTION GAP HOW BRANDS CAN INVOLVE CONSUMERS IN THEIR SUSTAINABLE JOURNEYS Author: Laqshay Gupta Shaheed Sukhdev College of Business Studies University of Delhi Customers admit they prefer more sustainable commodities, but they don’t purchase them very often. What’s the problem? The intention-action gap is a disconnect that keeps environmental brands from reaching their desired objectives. Participants in this gap are two groups: consumers who want sustainable products, and businesses that want to produce these products. The purpose of bridging the intention-action gap is to improve the chances of business sustainability by getting consumers involved in sustainable business practices. How can brands bridge this gap? They must allow consumers to create their own brand identity with their actions related to sustainable shopping choices. Brands can collaborate with consumers on information about changes needed at regular intervals for successful sustainable progress, or they can incentivize consumer participation in solving big problems related to their lifestyle which benefits society at large. Customers will continue to purchase sustainable commodities as long as the positives outweigh the effort required to make the purchase. But what happens when consumers don’t know what products are sustainable? The intention-action gap – exists because consumers want to do the right thing but often lack the critical information that they need to act. Business leaders, meanwhile, know that consumers want to be involved in taking care of the planet, but many companies struggle with how best to involve them on their sustainable journey. This article will share insights on how brands can bridge this intention-action gap so their customers will more easily choose sustainability over conventionality.
succeed at delivering on quality or quantity, but not both at the same time, which leaves them stuck. The article talks about how brands can find a way to make sustainable lifestyles more convenient by bridging the intention-action gap. This will help consumers feel more committed to their products or purchases because they actively are contributing towards these goals.
The study discovered that most consumers have the Customer Segmentation – Part of the problem is that intention to purchase more environmentally-frienddifferent stakeholders have different objectives and ly items but are often overwhelmed by the amount levels of approach to sustainability. A recent study of information available. Brands need to bridge this by Bain & Company revealed that most consumers gap between their intentions and actions. Furtherwant companies to deliver benefits in three areas: more, consumers feel closer to brands when they are quality, price, and convenience. Companies usually involved with sustainable consumer journeys.
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Companies can promote trust and loyalty among their consumers by using these tactics. These findings can help businesses make optimal decisions for future sustainability initiatives; moreover, companies need to consider this new insight as they develop strategies moving forward because sustainable consumer journeys play a large role in securing customer loyalty and helping build awareness of environmental issues on global scales. The internal rewards for adopting sustainable behaviors can be conducted by the self-regulation of an internalized value system. This is the internalization of the motives, attitudes, or norms that people hold by which they regulate their behavior (Bagozzi & Dholakia, 2006; Bagozzi 1994; Liao & Aaker, 2010). Also known as “self-brand connection”, this theory suggests that consumers can increase their loyalty to different brands through engagement with brands’ missions and values (Kapferer, 2001; Kapferer & Skrzypczak-Sliwa, 2007), This may also lead to higher brand equity through deeper consumer involvement with the product experience (Li et al., 2011).
are relying more on their intentions than their actions when deciding whether or not they should make a purchase. To bridge this gap brands must engage consumers in conversations that focus on an individual’s values and motivations. These brand-consumer relationships could be the key to achieving sustainable journeys for both parties: by educating and empowering consumers about how they can live more sustainably and by driving them toward behavior change goals. Sustainable products offer special challenges due to the nature of their “benefits.” Brands need to consider how the benefits of sustainable products are experienced by the consumer. When products are more difficult to identify, companies need to ensure that their sustainable journey is communicated to consumers. As such, the intention-action gap must be bridged for brands’ journeys and products’ benefits to meet consumers halfway. The intention-action gap exists when a brand’s sustainability efforts can’t be seen by consumers due to factors such as product complexity and trustworthiness of the company itself. Branded sustainable campaigns fail when they Increasing Rewards – When it comes to consumer fall short of bridging this gap and instead offer solusegmentation, brands have two levers to pull: increase tions that don’t provide any immediate benefits but benefits and minimize effort. Unfortunately, recent aim to help in the future. research has revealed that the effort-benefit gap is still widening in many developed countries. The reason Decreasing effort - The second lever reduces the effor this, according to the research, because consumers fort required by consumers to purchase a more sus-
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-tainable product. Brands must fill the intention-action gap by making it easy for consumers to buy a more sustainable product. They can do this by using price promotions, changing distribution channels, and designing products that are more convenient to use than their less sustainable counterparts. The first lever reduces the number of people who would otherwise purchase a less sustainable product because of its lower price. Enhancing distribution and making it convenient for customers to acknowledge and trust the brand’s attributes are two ways to reduce effort. These changes are in turn made possible through sustainable innovations. However, this bridging of the intention-action gap is not without its challenges. Consumer needs and demands are always in flux, and companies can no longer afford to compartmentalize their brands. If they want to stay relevant in the long term they need to see themselves as part of an ecosystem, where sustainability is a core part of their corporate responsibility strategy. This way, corporate responsibility becomes both a competitive advantages but also a prerequisite for continued success for any organization that wants to thrive today and tomorrow. Price is typically recognized as a key hindrance. For example, when trying to convince employees and consumers to adopt sustainable behaviors, the price of the sustainable alternatives is often compared with that of conventional choices. One way brands can overcome this barrier is by offering products at prices that are comparable to
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those of mainstream ones. However, when it comes to sustainability, there’s much more than price involved in bridging the intention-action gap. Brands need a two-pronged approach: educating employees and customers about sustainable alternatives while also providing a tangible action for them to take on a day-to-day basis. To help consumers close the intention-action gap, brands need to fine-tune product activations for varying levels of sustainability sensitivity: - For those who are already engaged with sustainability issues, brands must activate consumers beyond the product to help them take responsibility for their consumption. - For consumers who are not yet engaged, brands need to first establish trust before activating them with environmental campaigns. - And finally, for those who are completely disengaged with the issue at hand, brands need to shift their messaging to become less “green” and more focused on impactful opportunities instead.
Demarketing Author: Shreyas Sanjay Kulkarni Garware College of Commerce, Pune, Maharashtra Can you imagine a brand trying not to sell its service? I had never noticed it until I heard about five-star hotels that strive for exclusivity. From putting two-wheeler parking places in the distance to serving high-priced menus with elegantly dressed guest associates, every effort is made to keep the common man away from their services and therefore maintain their prestige. While most other companies are looking for customers, these service/brand owners are faced with the need
to discourage customers, at least temporarily. Their marketing stance may be that of indifference or arrogance. A responsible organization, however, strives to function within a framework that respects the marketing concept, i.e., the long-term objective of developing satisfied customers. To define demarketing it can be explained as the efforts made by the company to reduce the consumption of a product. ( coined by Philips Kotler and Sidney Levy ) Basically, any attempt to discourage consumers from buying a certain product is called demarketing. It is a limited view of marketing and potential marketing technology applications. It is a concept that arose during times of oversupply of goods. It also reflects a broader trend of defining marketing in
terms of what marketers should do rather than analyzing what they actually do in various situations. Efforts are being made, attempting to discourage, but not destroy, demand for a product. When the intention is to destroy demand, it is called counter-marketing. Everyone must have seen the shocking picture on the packaging of cigarettes. This is probably the most famous example of counter-marketing. And it is mostly practiced by state and central government We can also see that high demand can be a feature of the entire economy at times, and at others, only a small number of firms. Even in the absence of a general scarcity economy, individual sellers will always face high demand for one or more of their products. To implement demarketing efforts, this demarketing advertisements technique relies on the 4Ps of marketing. It emphasizes the importance of location, product, price, and promotion.
A company may raise the price of a product to deter price-conscious customers from purchasing it. Most companies sense that price-aware clients grumble and are involved about seemingly minor issues the most. To accomplish so, you’ll need to figure out how to raise the price without losing clients to your competitor.
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Sometimes for this Bait and switch strategy is used though it is potentially unlawful, and you could be sued for it because it thrives on dishonesty. This style of demarketing commercial promotes a fantastic product at a ridiculously low price. When a product isn’t available, it’s also known as a “too good to be true” pricing. When people come in to buy something, they are informed it is out of stock, which convinces them to buy something else. It’s a “bait” to get people’s attention before “switching” them to a more expensive offering. If you think about it, demarketing can be applied in a variety of situations. For example, when companies want to constrain demand for limited resources, such as gas and energy. It can also be used when the objective is to reduce demand for a tourist destination that is suffering from over-demand. In these cases, the objective is to reduce all demand. Hence it is called ‘demarketing’.
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Demarketing can be used for a variety of reasons, but the final objective is always to reduce demand and so assist the business make money, even if it means s elling fewer goods.
Buyer Persona Author:Archit Agarwal How do you target a certain market? What is the best way to find the perfect customer? Whom should I sell to? Which channel should you utilise to reach out to the right customers? What type of content should be created to drive in and attract new customers? What marketing plan should be developed for maximum effectiveness? These questions emerge during the planning phase and must be accurately answered and examined. How are these issues to be resolved? BUYER PERSONA. The buyer persona is a depiction of the ideal consumer for the firm. It comprises of a customer’s information, such as personal information, purchasing indicators, and behaviour. It is based on facts and educated assumptions. These data provide a foundation for additional study into the consumer group and other sorts of people who have some common characteristics, allowing for product creation based on the target audience set. This helps to formulate marketing strategies.
Buyer personas for businesses are an excellent approach to learn about the customers’ preferences of the business. By forecasting their purchasing decisions, a firm may choose to boost their sales interaction with the customers, increasing the likelihood that the potential customers will buy from their business. Knowing the customer segments in which the business intend to offer their product or service, or defining their target audience, is what a buyer persona entails. Understanding the target audience aids in the creation of brand awareness, as does the usage of various marketing methods to efficiently reach the segments that corporations want their products to reach. It also serves as a foundation for future advertisement production, which may aid to attract customers. This also aids in the creation of content for attracting and retaining clients by tailoring it to people who share common characteristics in a buyer persona.
https://media.slidesgo.com/storage/209961/conversions/0-buyer-perso-
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A buyer persona can be prepared by finding the following information on the customer: • Gather the personal information of the customer – Name, Age, Gender, Profession, Location • Find the professional goals and the pain points of the customer – Goals, Frustration • Talk to customers about their motivation • Focus on how the customers buy their product, the procedure to buying and their product – Purchasing Behaviour To some extent, these questions make the questionnaire round easier and more straightforward. The WHY questions aid in understanding the clients’ personality attributes. Because the individuals who perceive the character qualities are also the ones who assess the buyer persona, it is simpler to match the traits and reach a decision about problem development and marketing strategy. Now that the marketers understood the type of questions to ask, it is important to understand whom to ask such questions. To un-
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derstand more about the customers, we need to talk to them and conduct interviews with them. In the commercial world, there are three types of people: existing customers, potential customers, and those who have no relationship to the product and will never use it. Speaking to existing customers is a greatest way to learn more about the consumer and the market sector in which the company operates. Existing clients may be divided into two groups: those who are pleased with the goods and those who are dissatisfied with it. Talking to folks who are dissatisfied with the product is preferable to talk to than those who are pleased with it. This enables us to understand the flaws in the product and develop it by addressing their needs, which leads to our growth in customer count and ultimately profitability. Collecting client information isn’t enough. The primary goal of gathering this information is to develop content and distribute it to the relevant market group in order to raise brand awareness or display the product.
Identifying influencers would be much easier after studying the customer’s personal data. Once the business understands their clients’ preferences, they can devise a more effective marketing strategy for their products. Understanding customer behaviour and interests facilitates the development of marketing tactics. It becomes easier to place the correct product at the right time and in the right location if the customer understands the purchase decisions. Knowing where the key buyers’ personas spend the most time on the internet is critical for your company’s success. This enables you to decide how to interact with them, how to reach new consumers, what sorts of material to create, and where and how to advertise it. Despite keeping the major benefits in mind, the consumer persona has fallen out of favour for a variety of reasons. The difficulty, as many marketers have realised, is that in today’s economy where everything has gone online, customers cannot be classified into a single persona group. As the requirements of customers are always changing, it is not possible to satisfy all the requirements of the customer. Marketers can’t just categorise them as one type of client profile. Furthermore, customers may be looking for a certain product as a one-time purchase (like buying a new pair of shoes or a new air conditioner). Once they’ve discovered what they’re looking for, there’s no use in bombarding them with advertising for a new pair of shoes and a new air conditioner—they’re no longer relevant to that individual consumer. Apart from these factors, the era has arrived in which customer personas have become vital and critical in the formulation of strategies. This is true that people’s wants vary on a daily basis and are never-ending, but we must equally recognise that where there is a demand, there is also room for supply. This connects the conversation to a solution for meeting these requests and demonstrating that the customer persona is still relevant and not obsolete.
Technology has aided in gaining crucial information about the consumer, such as personal characteristics, purchasing behaviour, and decisions. The advancement of technology has enabled us to provide our clients with a live, intimate experience of our services. They can provide feedback on the company, product, or service. This enables the organisation to identify changing client behaviours, changing needs, and eventually predict demand, ensuring that the appropriate product is at the right location at the right time. The technological advancements over the previous two decades have significantly expanded the ability to collect data. Approaches to digital marketing that are strategic, recognise sharper differentiations that go beyond broad brush identifications of ‘users.’ The Buyer Persona Spring is represented by the organisation, the buyer persona, and the many parts of digital marketing strategy. The major driver of rising digital maturity is the more integrated usage of data throughout the organisation. Digital technology has had an impact on conventional company structures as well. With disruptors’ business models based on the sharing economy and social networking channels, the problem for other models is how they escape being forced down to established definitions or practises. Increasing corporate openness, creative business models, and the usage of sharing and crowdsourcing call into question established labels and definitions, necessitating deeper contemplation and more mature reactions from an organisation. The Buyer Persona template shown below was created based on research and a survey of businessmen. The majority of businessmen and marketers believe that the following aspects must be included in the template. The elements are described based on the results of survey.
The advancement of technology has aided in the collection of data about many consumers that the organisation deals with.
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#BUZZFEED #BUZZFEED
Range Rover Zomato offerslaunch Rs. 25 lakh for consumer created ad
The fifth generation Range Rover was unveiled at the Royal Opera House in London by British automaker Land Rover. The new Range Rover range includes regular and extended wheelbase body designs, as well as a seven-seat variation for the first time, followed by a customised SV grade in late 2022. The 2018 Range Rover is a work of art in terms of seamless and clean-cut design, and it looks magnificent in every Zomato is proof that they can turn criticism into a super innovative marketing campaign. conway. The exterior also exudes modernism, demonstrating the brand’s progressive designAfter philosophy. sumers. After consumers expressed their growing boredom with Zomato’s monotonous YouTube and TV someRover users took to social mediadistinctive to criticizedesign Zomato’s butter chicken Zoamto runTheads, Range retains important features, such asad. theHowever, iconic daytime seems to have played its cards well by coming up with a smart idea to help it come up with funThe camning lights, softly swept-up waistline, slightly sloping roofline, and identifiable shape. most paigns while engaging with their customers. striking modification, though, is at the rear, where Land Rover has added an enormous black panel that conceals vertical rear lights and dynamic turn signals that are horizontally positioned. The The wentRover all out, thatPHEVs the ads do now,up it has opened the floor creative newfirm Range is proclaiming one of the only thatsuck. can So charge to 80% in under an for hour thanks to ideas from customers. What was commendable was that, apart from the novel idea, they also shared its 50kW DC quick charging capacity. Customers may charge the battery at home using a resithe feeling with their customers that made them win convenience many hearts. and get a full charge in five hours. dential 7.2kW AC wall box supply for enhanced
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Source: https://akm-img-a-in.tosshub.com/
#BUZZFEED
From Facebook to Meta ‘Meta’ means ‘after’ or ‘beyond’ in Greek. Meta will now be the name of the whole Facebook firm. Meta also has a new logo, which resembles an infinite sign. The ‘Meta’ symbolise is “intended to dynamically reside in the metaverse — where you may walk through it and around it,” according to the business in a blog post. The Facebook app, on the other hand, will keep its name, and other applications will not be affected. The ‘metaverse,’ according to Zuckerberg, will go beyond the internet as we know it, with interoperability, avataars, natural interfaces, teleportation, Home Space among its core characteristics. One might share a digital place with others and experience it virtually as if it were real. The goal is to keep the metaverse experience free, therefore Meta will offer its devices at cost or with a subsidy to make them more accessible to more people. The Oculus Quest 2 or 3 are VR or AR devices that may be used to access sections of the metaverse. There’s also Project Cambria, a new VR gadget that will be more costly and include more advanced tracking technologies. This will happen next year. Aria, Facebook’s augmented reality glasses project, is still in the works. However, all of those precise and genuine holographic projections will necessitate technological advancements. It hasn’t quite arrived. Facebook isn’t the only company attempting to make mixed reality a reality.
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CONTENT MARKETING Author: PASPULETY NAVYATHA IIM CALCUTTA
WHAT IS CONTENT MARKETING? Content Marketing is Creating and delivering relevant, valuable content to attract and acquire interest of a define target segment with an objective of profitable customer action. Content Marketing is a long-term strategy by engaging the target audience with relevant, highly valuable content building a long-term relationship where customer chooses your product over competitors.
2.Value Addition to target audience Audience does not engage with your content if they could not find it valuable to their time and efforts. Example: 10 ways to lose weight? Best places to go for a graduation trip How to win friends?
3.Story telling Creating an emotional content with the audience is essential to stimulate user engagement and this can be perfectly delivered using story telling.
CHARACTERISTICS OF CONTENT 4.Ease of Access and Relevant Content The content published should be easy to find and underMARKETING 1.Select Relevant Target Audience (Users Persona) - Know your audience Direct your content to the right audience who are interested in similar products or services which gives you freedom to create valuable content and pursue meaningful conversation addressing person’s unique issues, challenges and desire to purchase
standable by a target audience
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WHY IT IS INCREASINGLY AN IMPORT- Timely Delivery of Valuable content Even when a business creates content which is auANT TOOL FOR MARKETERS Content marketing generates 3times more lead than traditional advertising and is cost effective (costs 62% less). 6/10 customers check out a product on website after reading relevant blogs, posts etc. Regular update of blogs, posts can drive 55% more website visitors
Users on internet are spending 20% of their time everyday reading online content (posts, blogs, tweets) and 70% are reading about brands that interest them. A research Study has proved that 80% learn about a business using content marketing.
Benefits of Content Marketing
Quality content can build Brand awareness, Cultivate Loyal brand fans, Great content can help in standing out with respect to competition, generate better leads, Build audience trust, better traction on social media and longer engagement duration with audience
Underlying principles, concepts & best practices of ‘Content Marketing’
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thentic and engaging but fails to post content on a regular basis either on social media or blogs can result in audience not following with the product or service content after certain duration Content should always Evolve With increasing technology and a shift in the consumer behavior, businesses should evolve their content over regular intervals. Businesses should focus on improving their content according to the interests of target audience focusing on building trust with them and turning them into loyal customers Engagement of Target Audience A study from HubSpot concludes that Businesses which post content regularly (16 posts per month) can result in 55% more visitors to the website giving an opportunity to get higher on SEO Rankings. In depth content To create and emotional bond with target audience and sustain in a long-term authenticity of content is quite essential and this can be well established by posting the know how’s of business and certain indepth content which isn’t accessible on websites and social media Deliver Unique Content Unique selling point is important for any business to differentiate with respect to competitors and Businesses should focus on delivering content which amuses the audience to revisit the website and share it with friends. Unique content can also help in becoming viral on social media platforms which can boost brand awareness to mass audience who aren’t even in target segment range giving an advantage to the firm Ensure High Visibility Creating original content is most challenging but can have various advantages of higher visibility on website and engage audience for a long-time creating loyalty and building trust with the business Value Creation Target audience would be interested in content which engages them by adding value, for example an entertainment and funny content can make the audience laugh and feel stress free after watching content. Audience should walk away with something more than they come with. Creating an emotional connection with audience is very essential for any firm who wants to outpower content marketing.
EXAMPLES OF ‘CONTENT MARKETING’
Zomato In a country where food delivery took a major turn in these days working on focuses target market (a foodie) is Zomato’s big secret. one thing stands out - Zomato’s marketing strategy. As a marketer, I love the witty marketing and use of vernacular language in advertising which creates a personal bond with the consumers. Their bold colors, effective communication with straight to the point messaging and witty memes makes them stand out. Their focus is interaction with their audience, Powerful visuals and bold colors are great for standing out - whether on a billboard in a crowded crossing or online. Zomato has improved a huge market share in three years using content marketing and became a major competitor for all the food delivery platforms in India.
Durex The marketing strategy of Durex comprises unconventional marketing communication tactics and campaigns. There is something comical on social media posts of Durex, and wink emoji cause the jokes like sexual suggestive. Durex is primarily focusing on pleasure along with sexual satisfaction of both partners, Durex is very active on social media positioning itself as a witty, kinky, playful and one stop destination for sex related messages. Durex believes in educating the youth on importance of pleasure in sex and also emphasizes on women’s pleasure from their creative advertisements and bold content on all social media platforms. Durex believes that being shy on advertisements without boldly explaining the importance of pleasure is not going to help consumers so they have opened up their social media pages and started communicating with the target segment using creative and innovative content educating the customers
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BEWAKOOF Bewakoof is one of the first start-ups in India with a social media campaign “ Save the millionaire” which gave a chance to submit their dorky idea and save tony stark and bring him to planet earth, with a tagline Help Potts save Tony before he rots. This attracted people to submit their creative ideas and be a part of the campaign. This brand has a strong social media strategy compared to its competitors through its varied content and brilliant campaigns gaining social media presence in India, A different campaign started by Bewakoof is posting anonymous riddles on social media and contestants who will guess the brand name will be awarded super offers from Bewakoof. This made the firm improve its brand awareness and create a brand loyalty in the mind of consumers
AMUL Amul creates content using jingles, rhymes and making a stand on a social cause, thereby engaging with the audience on all levels. The Popular Jingles of Amul still engages with the young audience, which helps them reminisce about their childhood; some of the famous Jingles of Amul are “The Taste of India, Mero Gaam, Always Proud.” AMUL is always a brand that will be ready to take a stand on social causes. Whenever there is an issue, Amul will always be prepared with its opinionated version. All the topical creatives of Amul focus on the point of view of the mass to address any social situation. Apart from such topical content, Amul often conducts social media contests to keep the audience engaged. What’s makes it even more interesting is, Amul creates content such that it gets easily blended with a larger audience, the lines they use in posters is such it rhymes most of the time, which makes it easy engaging and sharable
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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 : Niribili, Priya, Thiviya DESIGN : Chetna FOLLOW US ON :