The Marksman - February 2017 Issue

The

MARKSMAN

K J SOMAIYA INSTITUTE OF MANAGEMENT STUDIES & RESEARCH

VOL. VII | ISSUE IX | Feb’ 17

EDITOR’S NOTE Happy Reading !

Thank you so much for loving our magazine and looking forward to it with such vigor and enthusiasm. You are truly a wonderful audience. It gives us great pleasure to present to you the February issue of your very own Marksman. This edition boasts of a range of varied articles lined up just for your reading pleasure.

Our cover story this month titled –”Social Media Marketing” talks about essentialness of SMM and how SMM is a must to target a wider customer base and expand your business. This month’s special story – “Database Marketing” helps you understand all the data you have stored about your customer as well as guides you on how to use it efficiently. KickSTART focuses on the startup – Paytm, which paints the entire journey of how it started as a prepaid mobile recharge website to how it is being used today.

In addition to that, we have the usual yet exciting sections on: Tweets, Bookworm, Buzz, Ad-itude, Squarehead, Hallmark Campaign, Pioneer and Faux Pas.

We would also like to congratulate the winners for this month’s Call For Articles – Abhishek Patra, Nishiggandha Kerure and Rashi Rastogi whose articles have been chosen to be featured in this month’s issue. And for all those entries that haven’t been published in this issue, we thank you all for your overwhelming response and request you to keep writing to us with the same fervor

Stay connected with us on http://www.interfacesimsr.com/the-marksman.html Follow our Facebook page for more updates.

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Content Tweets

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It’s All About Ad-itude

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Brand Markive

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Cover Story: Tele Marketing

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Special Story

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Marketing Faux Pas

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Hall-mark Campaign

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Pioneer

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Bookworm

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Kickstart

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Featured Article

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Square Head

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Buzz

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THE MARKSMAN

TWEETS #Deleteuber

Uber teaches us, one should think twice before tweeting. During the immigration ban, a union representing taxi drivers in New York City issued a statement refusing to pick up passengers at Kennedy Airport — the center of the protest — for 1 hour. After the strike, Uber posted a message on Twitter saying it had turned off its “surge pricing” feature in the given situation to “help” the people at the airport. Uber was accused of strikebreaking and of profiting from the protest. Soon #DeleteUber began trending and people started tweeting pictures of deleting their Uber app.Almost 2,00,000 people deleted their accounts.

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TWEETS #MrClean #SB51 The Super Bowl isn’t just about football championship anymore; it’s about advertisement championship too. And one brand that was “Super” witty and on mark on this year’s Super Bowl was the cleaning product from P&G, Mr. Clean. It trolled Super Bowl commercials on twitter, live. It released its own Super Bowl commercial which featured a sexy, dancing version of character and then goofed around in the first half of the match on twitter with Skittles, T-Mobile, Honda and more! Sexy Mr. Clean turned everyone on watching it and surely created a lasting impact with more than 11,700 mentions in one minute!

#PineSol #SuperBowl

Setting a perfect example of brand engagement and tactically seizing the opportunity another cleaning brand, Pine-Sol tapped into the twitter buzz surrounding Mr.Clean during the Super Bowl and created a Twitter poll challenging Mr. Clean for a dance-off against the Pine-Sol lady for charity which collected over 2,00,000 votes. Other brands that got involved include Tide, Wendy’s and Mashable.

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THE MARKSMAN

IT’S ALL ABOUT AD-ITUDE Print Ad: Durex Lubes

Durex has always been known for its brilliant and creative print ads. Yet, again when the world was in a state of shock post the U.S presidential election results, Durex played it calm.

It took this opportunity and it created one of the most influential print advertisements. The picture shows Donald J Trump standing inside the white house which was almost like a miracle for the world since he was considered to be the underdog. Similarly, Durex grabs this opportunity for its product by stating it can help you get in anywhere, like really anywhere. Like if Trump could reach the White House, Durex lubes can help you reach anywhere and attain the level of satisfaction desired.

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IT’S ALL ABOUT AD-ITUDE TELEVISION AD : TATA TEA – ALRAM BAJNE SE PHELE JAAOGE RE

“Alarm bajne se pehle jaago re”, do not wait till the alarm goes off, is the central idea of the new TATA tea “Jaago re” campaign. We, Indians have a very bad habit of waiting for an event to occur and react based on it. We never pre act to prevent any event from occurring and this is beautifully explained in the new Jaago Re campaign. The film brings alive the need for pre-activism in a hard-hitting, pertinent manner. The lead female drives the story in a manner where she shows that we keep waiting till a farmer commits suicide or we wait till a rape takes place. Later, we react to the event by taking out rallies or posting anger on social media, but never do we ever take steps to stop them from happening in the first place. Tata’s keep up with their social awakening and leadership cause yet again with their jaago re version 2.0

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BRAND MARKive Reader's digest Reader's digest is unique in the way it has grown over the years. It is a household name globally. Its value proposition lies in the basic concept over which the magazine is developed. It is the ultimate go to source for an avid reader as it provides an incomparable stream of articles covering diverse topics from around the world. As a result the magazine overflows with information that a variety of readers can connect with. Not only does it provide articles suiting their interest, but also covers a range of other themes that the consumers can read for leisure.

The inception of the magazine happened in 1909, when avid reader, DeWitt Wallace, began making card indices of the best articles he read. He mostly focussed on general interest articles. Eventually he chose to commercialize this habit and provide for others like himself. In the 1920s DeWitt Wallace figured that the ideal consumer for his magazine would be someone occupied with work who also likes to stay updated about the happenings around the world. So, was curated this compact, versatile magazine. Wallace failed in his first attempt to publish this pocketsized magazine when many publishers turned him down. Instead of getting bogged down by disappointment, he ended up deciding to print the magazine himself.

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Here came his idea to use direct mailing as a channel for sales. Direct mailing helped in spreading the word about his magazine by reaching out to the potential consumers.

There was a personal touch to the product, as the magazine suited the lifestyle of the people it reached.

In 1938, the test marketing of reader's digest was done in London. Direct mailing and retail stores were used for selling a United States edition of the magazine. The company formed for the purpose managed to sell a whopping 250,000 copies. As a result a decision to print the magazine in London was made.

The sales increased exponentially, taking the number to a million in just four years. With this increase, reader's digest introduced new sections covering controversial topics, social trends and light humour. Some of these contributions are also made by the readers.

As readership increased, the magazine gained a lot of equity. Information, entertainment and inspiration are some of the personalities associated with the magazine.

Reader's digest has no direct competition in the mass market. This gives it a unique positioning. Quality and value are synonymous with the brand. To maintain that level, a quality research is done and feedback is taken to understand consumers’ needs and updated regularly.

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BRAND MARKive

The brand has grown over many years and continues to improve with a large number of feedbacks received whenever a mail is sent out by them. This is largely due to the trust the brand has built by maintaining and improving the quality of its content

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COVER STORY Social Media Marketing “2004 saw the launch of Facebook and since Who knew that a website, set up for rating then the entire scenario of social media has girls as “Hot or not” for students of Harvard, changed. Social media consists of would go on to become a big time success with the name “Facebook”. Who knew the websites, or the Apps created to connect with your loved ones, or to those who with time have lost contact, will become the next big platform for marketers. Never in dreams would the creators of these social media websiteswould have thought that their creation could be used in the way it is being used now.

Change is the new constant. There is a tectonic shift in technology that the world is experiencing today. Large or small organizations, rich or poor economies are witnessing the impact of a massive digital transformation or impact through digital initiatives and use of social media.

Today Social media is a term which everyone knows. Even the most remote places in world have access to World Wide Web and have thousands of websites and platforms, each heard about Facebook, Twitter etc. Probably with similar sole purpose but serving it in a not just heard but also use it on daily basis. slightly different manner. Some social media But this hasn’t been the case few years back. platforms are more popular than others, but Initially social media was defined in terms of even the smaller ones get used by a portion letters and cards, but now they are been of the population because each one caters known as Facebook, twitter, Snapchat etc. The to a very different type of person. Like birth of social media took place in the year Instagram caters to the kind of person that 1997 with a website known as six degree. It communicates through photographs best, then kept on growing and with wide spread and other platforms such as Twitter are of the world wide web, new websites came perfect for those who communicate in short bursts of information. into picture like Orkut, Facebook etc.

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COVER STORY

COVER STORY

Small businesses can take advantage of SMM to increase their visibility amongst the target audience as Social media is an inexpensive way of reaching large set of target audience when they are looking for you.

It helps in generating leads or sales. So whenever a customer fills up a“keep-meinformed” form or signs up for newsletter or fills in contact information it indicates that he/she is interested in your products or needs more information about your products. So this is a way it leads to lead generation or sale of product directly.

Increasing the events traffic.

Reaching the new prospects or buyers.

SMM helps you reach your target audience through various means like SEM, SEO, paid of internet marketing that implements various advertising, redirecting etc. social media networks in order to achieve It is also considered as a way of addressing marketing communication and branding goals. your customer grievances and problems.

Social media marketing primarily includes all SMM is no magic. A brand cannot build the activities which involve social sharing of itself overnight using social media content, videos, and images for marketing marketing. A lot of thinking has to go in purposes, as well as paid social media before a company thinks about getting advertising. Social media marketing is the online. Various questions needs to be process of gaining awareness, driving traffic answered like Does my target audience use and engaging your customers and prospects social media? Which channels? What’s being posted about my industry, using social media channels.

SMM is mainly used by marketers and brands competitors, company or products? How are my competitors using social media and for following reasons: Connecting with your customers in ways is it effective? What are my biggest unimaginable, using traditional means, thereby opportunities with social media? Etc. engaging your customers and gaining their Having answered these questions you need to have a plan drafted because no loyalty.

Building a reputation, increasing recognition marketing promotions or plans can be amongst your target audience and also or successful without having a structured map for the events. improving your brand awareness.

Businesses are using social media to promote their products and services in a brand new way and so each form of social media serves a purpose that the others available may not.

Having used social media on such length and breadth that online shopping has become an integral part of our lives. But have you ever noticed that you search for a certain thing online and then later on whenever you surf the internet you see ads of those things which you searched previously but didn’t buy.

Or next time you see similar or related products once you have bought the product.

Have you ever wondered why does this happen! This is all due to the concept of “Promise, large promise, is the Social Media Marketing. sol of an advertisement. “ Samuel Johnson.

Social media -marketing, or SMM, is a form

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THE MARKSMAN

COVER STORY To start off with you need to decide upon the channel which you want to choose, what kind of content is more successful with your set of target audience. SMM is all about being present and engaging your target audience directly, but at the same time, the medium is largely unorganized and uncontrolled. In order to succeed, you will need a strategy which helps you to reach out to the right audience and join in with the global conversation that is social media.

•More than 88% of consumers are influenced by other consumers’ online comments.

• 44% of Indian consumers have bought a brand because their friends like or follow the brand on a social network.

Like for example for the promotions of SRK-starring ‘Fan’ by Yash Raj Films, the production house embarked on a massive digital marketing strategy driven by a video series ‘TuNahinSamjhega’ featuring real fans, as the movie was inspired by a real life fan of the star. YRF built the series as a tribute to all fans, not just SRK while fans on social media were engaged with a variety of contests and fun activities that brought them closer to the star, and this momentum was kept alive till the day of movie launch.

SMM doesn’t just consist of marketers and brands branding their products but also how well your customers advertise for you. They are known as brand advocates and the influence these advocates have on the brand image is of great importance.

Today, social media has become one of the most powerful channels for Word of Mouth (WOM) marketing.

•Social media users who receive great service tell an average of 42 people (compared to just 9 for social absentees).

•Approximately 40% of all Twitter users regularly search for products on Twitter.

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that played on nostalgia.

Maggi used SMM to recreate its brand image which it had lost due to ban implied on it. it launched a video series called #NothingLikeMaggi

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COVER STORY The mom, the hostel guys, the papa who only knows to cook Maggi returned from history, to remind viewers that there’s ‘nothing like Maggi’. The ad, the jingle, the setting was carefully chosen for each of the three films that celebrated the good old spirit of Maggi, the familiar ‘two minutes’ and people-bonding. This is how tried to come back with a clean image post the ban.

Listening to your customers and having an efficient and effective social customer service team is very important because this can make or break your brand or even can make you competitors steal your customers.

And if not steal than atleast woo them.

The twitter brawls prove that having an active listening on social media can be beneficial for the brands as well as their rivals. One important aspect of SMM is measuring the outcome of your objectives.

Measurement helps you decide if your strategy and content makes sense to your target audience. If yes, then you can continue with the same plan but if doesn’t then another plan should be applied to make SMM effective. And never forget customer is god and content is the offering you need to pay to god for being in his good books.

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Special Story Database Marketing Gone are those days when marketers used to refer to yellow pages to collect information about their target audience , gone are those days when people used to use Justdial to get information about plumbers and electricians.

All these are examples of database marketing.

The owners of yellow pages and Justdial, with years of information gathering created a database of all the people based on profession, location, etc. This is how they used demographic division to segregate the data they had for the ease of marketers. Marketers had to just check the book and find all the contacts and addresses of their target audience. This was a tedious job. With the advent of technology even this task of vetting the data has become easier.

So what exactly is database marketing? How is the data collected? How is it used?

Database marketing is a form of direct marketing. The database marketing is process of identifying, collecting and then analyzing relevant information about a company’s customers. The database is compiled using data obtained from a range of internal and external sources such as sales information, email correspondence, warranty cards, promotional efforts and now more than ever, social media. The primary aim of database marketing is to then use the information within the database to implement marketing strategies that ultimately increases profits.

Marketing is all about retaining your old customers first and then gaining new customers.

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Hence the key driving force behind database marketing is establishing, building and then maintaining relationship with the customer. Developing and understanding how customer relationships work with database marketing can be instrumental in boosting customer retention levels and therefore profits through repeat customer, as well as amassing new customers. Fast forwarding to 2017, with every person owning a smart phone and internet connection, what is the most basic things we do on our phone except for calling or surfing net? Downloading apps! Irrespective of the type of app you download, have you ever noticed that you accept certain terms and conditions before you start using the app and at times even before downloading the app? This is the point where data for the information is collected. The forms that you fill anywhere in malls, for purchasing credit cards etc is a way of data collection.

There are three main stages of effective database marketing: 1) Data Collection: It is the collection of accurate and relevant data about existing as well potential new customers and then making it available in a format which makes it easier for the company to use the data for their marketing activities as well as promotions.

2) Turning data into knowledge: The data which is collected from various sources is in raw form, to make sense of the data, it is suppose to be analyzed so that it can be

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SPECIAL STORY later used for effective marketing and communication.

3) Developing and evolving business strategies: Involves using the data and the knowledge within a database for shaping the strategy of the business

Database marketing is particularly useful for large firms, which data. have large customer bases that generate huge amounts of transaction data. This helps them to target their customers in a refined form.

Database marketing helps you touch customer’s life in ways which have never Sources of data been thought about. It helps you reach your customers at times when they need you Various businesses use database techniques with things they need. By proper cleaning to refine their direct marketing campaigns, and segmentation of data you can send including finance companies, retailers, personalized messages to the customers. You technology vendors, internet service can use data in such a way that your companies, insurance companies, and B2B customers have a pleasurable experience companies.

Database marketing is while shopping. Have offers curated for particularly useful for large firms, which have customers based on their past buying large customer bases that generate huge behavior and predicting the new purchases amounts of transaction data. This helps them they can make. You can also collect feedback to target their customers in a refined form. from customers on your products or services and thereby can improve your services. Suggesting items or products which can be purchased along with the products customers is buying. Sending birthday and anniversary messages can make a huge difference. It helps in building customer loyalty. There are firm which sell databases to various other firms called as third party data. It used by small firms for their marketing activities. These activities included sms campaigns, mailer list etc. In this case the firms specify their TG details with the third party and the firm thus provides the required data which can be used by the Various businesses use database techniques other firm for their marketing activities. to refine their direct marketing campaigns, including finance companies, retailers, technology vendors, internet service companies, insurance companies, and B2B companies.

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THE MARKSMAN

SPECIAL STORY

Benefits of using databases for marketing are: Targeting: most importantly is its ability to let you target your marketing efforts to specific groups based on the firms needs.

Improved profitability: By segmenting and targeting your customers you used your marketing spends in an optimum way which makes it cost effective and hence increases profitability.

Increased sales: By segmenting the market , information reaches the right customer at the right time at the right place with the right products thereby increasing the probability of conversion which in turn increases sales.

Improves marketing communication: With help of accurate and reliable data , the quality level of the communication by the firm increases.This indirectly leads to customer loyalty.

Thus database marketing is the next big thing which is changing and will change the way businesses operate. It helps you work more intelligently by making decisions based on the facts and figures collected from the

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MARKETING FAUX PAS Qiaobi laundry detergent While most marketing executives would be thrilled to see an ad go viral around the world, this one's getting attention for all the wrong reasons.

China's Qiaobi laundry detergent is being called the most racist commercial ever made. The commercial shows a black man whistling and winking at a young Chinese woman, who calls him over, puts a detergent packet into his mouth, and forces him headfirst into a washing machine. She sits on the lid while the man shrieks. Moments later an Asian man emerges in clean clothes, and the woman grins.

Many on social media were miffed and angered by the advert. Some said the commercial was a crooked take on a similar Italian commercial, in which a Caucasian man was turned into a black man with the slogan: "Colored is better".

The Chinese version uses the same music and sound effects as the Italian clip. The Chinese advert has been viewed on YouTube more than one million times. The user who posted it, Benoit Florencon, described the film as "raw racism".

China has historically experienced almost no migration by people of African descent, although the population has grown in recent years as China has risen to become the continent's biggest trading partner.

Bottom-line: There's not much to explain here.

This ad is blatantly racist.

But it's also a reminder that attitudes over race and skin color in China can be very bad.

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Thanks to traditional beauty standards valuing white skin, many Chinese people have a well-established phobia of dark skin, which unfortunately also breeds racist attitudes towards people of African descent, who are viewed by some as "dirty" simply because of their skin tone.

Another recent example of how this shows up in marketing, is the promotion for Star Wars: In China, posters for The Force Awakens were altered to minimize John Boyega, a black actor who plays Finn, a central character in the movie.

Of course, China is not alone in its struggles with race and ethnicity. The US has a very long, bad history with how it treats minority groups, and the West is increasingly seeing an increase in Islamophobic attitudes. The racist detergent advertisement, then, is just another ugly example of the kind of racism that's too common around the world.

THE MARKSMAN

Hall-MARK CAMPAIGN March Madness “Pie Tops” by PIZZA HUT Pizza chains have always been ahead of the curve when it comes to innovative or develop some goofy way to order pizza.

Pizza hut in its latest campaign has topped them all. In their latest campaign March Madness with “Pie Tops”, customers can order pizza from any location by wearing limited edition high tops. So how does pizza hut locate them? By using geolocation. Talk about innovation.

You just need to press a special button on the tongue of the sneakers which will connect you to Pie Tops App and it will order a pizza for you. The brain behind this campaign is Ad Agency Droga5 and the sneakers were made by Dominic Chambrone who is a legend in the custom shoe business. The sneakers is a limited edition with only 64 pairs made which would mostly go to influencers and people in media who will further amplify the campaign.

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But few lucky fans would also get a chance to own those sneakers. The message behind this campaign is to show the consumers that how easy it is to order a pizza from Pizza Hut via multiple devices ,be it phone, tablet, laptop, Alexa-enabled devices, Facebook Messenger or Twitter. This campaign has been designed for March and April for a large two-topping pizza which would cost $7.99 and can be ordered online. They also thought about other ways to promote this Pizza but the very nature of this campaign caught their attention. This campaign comes soon after PizzaHut was defeated by both Dominos and Papa John’s in 2016 sales.But thiswill all change since Pie-Tops are all set to feature in NCAA MarchMadness- the Basketball madness in USA which starts in the second week of March and goes on till the first week of April.That issome excellent marketing from PizzaHut right there and all they had to do was make 64 pairs of sneakers.

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HALL-MARK CAMPAIGN

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PIONEER

Sundar Pichai Pichai Sundararajan might currently be the CEO of the most valued company of the world but things don’t come for free and it is only hard work, patience and persistence that helped him to lead Google which indeed is a dream company for many in the world.

The hunger for education was more and so Pichai decided to do MBA from the Wharton School at the University of Pennsylvania. The time to showcase his talent to the world had come and Pichai started working for Mckinsey and Company as a management consultant soon after which he Pichai was born in the state of Tamil Nadu got the opportunity to work with his dream and belonged to a lower middleclass family. A Company Google in 2004. It is said that family in which owning a car was a luxury , technology was Pichai’s best friend and but that did not stand as a hurdle for the Google was meant to be in his destiny. young visionary boy. Although the family could not afford to meet the luxuries they Pichai worked on products like Toolbars, never compromised on the education of Google Gears, Google Pack and even Google Chrome. The success of Toolbar children. helped Pichai to pace his career and with Pichai was god gifted which was evident this came the sensation of Google that is from the fact that he had an amazing talent Chrome which is Google’s very own of memorising and retaining numbers. He browser. was not only good with numbers but also with sports and was named the captain of his school cricket team, this was the first time Pichai had tasted success. He completed his high school from VanaVani at Chennai and then got an opportunity to pursue higher education from one of the most prestigious institutes of India. Pichai graduated from IIT Kharagpur and soon went to Stanford University to complete in MS in Material Science and Engineering from Stanford University .

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Bookworm

THE CONTENT CODE: Six essential strategies to ignite your content, your marketing, and your business - Mark W. Schaefer With the ever increasing relevance of content marketing, every marketer struggles to create content that can break through all the clutter and noise and help them develop a highly engaged audience.

This is where Mark Schaefer’s “The Content Code” comes to rescue. The book unleashes the concept of ‘Content Ignition’, the point where content begins to be shared, engaged with and consumed by relevant audiences which leads to business results.To help marketers achieve this point, the author delves into six principles or strategies that move beyond the basics of content marketing and ignite the value of business. The six elements of the Content Code popularly known as “BADASS” are:Brand Development- This principle highlights the importance of a strong brand for content ignition and provides an in depth knowledge as to how individuals and companies can achieve a status of a heroic brand.

Audience and Influencers- This principle provides the readers with the key to acquire ‘Alpha audience’, which represents less than 5% of the audience, but if tapped into seriously can help ignite content.

Schaefer discusses various case studies that equip the readers with audience building techniques and methodologies Distribution, Advertising, Promotion and SEO- With this principle, Schaefer gives 10 tips for content promotion that

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can help the marketers amplify content through paid channels.

Authority-The Authority principle underlines the importance of developing website authority to increase content visibility.

Shareability- This principle talks about how content sharing is a highly intimate, emotional process that promotes selfidentity, and regard for content creators.

Under this principle, Schaefer provides 22 hit steps that can help the marketers to establish a connection between the audiences and the content, thereby increasing shareability.

Social Proof and Social Signals- This element speaks as tohow social sharing numbers and blog comments actually influence a person’s propensity to engage and share content.

These principles when applied help the marketers to achieve huge success in the current era of digital marketing. The Content Code is therefore, a pioneering book that explores the psychology of sharing and endows the readers with highly practical ideas and measures (that can be used by organizations of any size and any budget) to achieve content ignition.

THE MARKSMAN

KickStart PAYTM Founded in August 2010, Paytm started as a prepaid mobile recharge website.Paytm is an Indian payment and commerce company based out of Delhi NCR, India. It is the consumer brand of parent One97 Communications. The name is an acronym for “Pay Through Mobile”.Currently its business is not only limited to recharge but has expanded as online payment platform including mobile recharges, utility bill payment, wallet payment and wallet to bank transfers for many leading internet based companies like Bookmyshow, Makemytrip, FoodPanda, IRCTC and many others.

It was founded and implemented under the brilliant idea of Vijay Shekhar Sharma and has got the first mover advantage in the mobile industry. The company has been backed up

by Alibaba group and Ratan Tata. For a share of 25% in the company, the firm raised $575 million from Alibaba group. The company employs over 13000 employees as of January, 2017 and has 3 million offline merchants across India. t also operates the Paytm Wallet and Paytm payment gateway.

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In 2013, the company launched Paytm Wallet, which became India’s largest mobile payment service platform with more than 150 million wallets and 75 million android based app downloads as of November 2016. The surge in usage of the service was largely due to the demonetization of the 500 and 1000 rupees currency notes. After 8 November 2016, Paytm’s transactions and profit increased significantly. The Paytm Wallet application enables users to book air tickets and taxis, and payment of DTH, mobile recharge, broadband and electricity bills among others. Users can also pay for fuel at Indian Oil Petrol pumps and buy movie tickets at PVR Cinemas through the wallet.

After creating a billion dollar worth company, maintaining the success is the most difficult part of the journey and it cannot be done without good teamwork, says Vijay Shekhar Sharma. To accomplish the same, he ensures that the right people are taken onboard who share the same passion to build, like his. He has also given 4% of his equity to the team, which in current value terms is about $120 million. As on 27 February, 2017, Paytm has reached 200 million customers, as tweeted by the founder. Sharma has said 2017 will be the year for Paytm to expand into banking. The organization will have to build and develop distribution, reach and customer base. In August 2015, RBI gave its in-principle nod to 11 companies to start payments banks.

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FEATURED ARTICLE

Is customer service experience ready for the millennial?

-Rashi Rastogi, Amity University Millennials are the first generation born in the modern digital world; born to change the meaning of exceptional customer service and transforming the customer experience.The Millennials, also known as Generation Y, is the first to grow up with cable TV, the Internet and cell phones, so technology and innovation is basically baked into each Millennial’s DNA. Millennials have grown up with close and individual access to digital gadgets that syndicate communication, infotainment, amusement and shopping into one bundle. Gen Y has always had technology readily accessible and lately, has turned out to be a population of tech savvy, socially sentient, and vocal consumers who think about the brands they do business with.

service experience that mirrors the same digital ease they've become accustomed to. The following are a few ways millennials are remodeling the customer experience–and why brands ought to pay heed.

1. Customer service technology needs to be intuitive and innovative to provide greater customer service.

In this fast-paced world, customers have a demand for faster services. Millennials have the inclination to adopt new technology more rapidly as compared to the more skeptical attitude of the previous generations. The persistent emphasis on streamlining the interface at Apple, Amazon, and Google has set a new standard of intuitiveness across the tech industry that millennials accept as the norm. Therefore, this generation’s need for speed is a persuasive reason for brands to put in more in self-service assistance, like visual IVR alternatives and webchat, while also augmenting service on online networking channels.

As millennials become the biggest generation both domestically and globally, it is more significant than any time before for businesses to implement customer service practices that satisfy this distinctive generation. Hence, due to the natural technological adaptation, millennial customers anticipate a customer

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FEATURED ARTICLE 2. Have a voice, so brands should have one, too.

The millennials are concerned with identity: taking a stance for what they have faith in and presenting themselves on social media as the people they want to be. Social media is itself a dais for interacting, with userskeen to support their favorite brands, social campaigns, and cultural practices that match with their personal convictions. Thus, brands ought to likewise recount their story, regardless of whether it be sharing a modest record of a homegrown business or indicating support for social or natural campaigns. Millennials are known to support brands with social morality, and long-term commitment starts with engaging customers on a human level. And the power of social media should not be belittled for articulating one’s ideas: positive customer experiences can prompt to brand promotion, while negative remarks put your brand in a bad light, thereby leading to customer churn.

3.Value authenticity.

Millennials prefer to keep it real: genuineness and authenticity are exceedingly esteemed. The brands’ contents and marketing campaigns on their social media sites, their activities and communication with customers in any milieu should always portray consistent values. According to a research from Barkley, an independent advertising agency, approximately 50% of millennials put in an effort to purchase products from

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companies that support the causes they care about.

4.Aren’t afraid to leave a company.

Millennials have no apprehensions about leaving a brand. Rather, customer churn of millennials is relatively high every year. In particular, one fourth of millennials will leave a brand after one bad experience. By the third awful experience, an astonishing 82 percent of millennials will quit using a brand/product. If you don’t provide first class customer service, and upgrade and change the customer experience, millennials will put loyalty aside and switch to the competitors.

5. Don’t like being stereotyped.

Despite the fact that millennials have various shared convictions, propensities, and qualities, they are not homogenous. As per the Boston Consulting Group, there are six distinct sorts of Millennials: • Hip-ennial careful, magnanimous, benevolent, and extensive social media user.

• Millennial Mom - affluent, family-orientated, and digital savvy.

• Anti-Millennial - locally minded and conventional.

• Gadget Guru - successful, energetic, and wired.

• Clean and Green Millennial - cause driven, socially conscious, and appreciates content.

• Old School Millennial - thoughtful, altruistic, and not as wired.

Understanding which section of millennials are in your intended target group will help you provide them with the content and customer service that suits them best.

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Understanding which section of millennials are in your intended target group will help you provide them with the content and customer service that suits them best. For example, if the target group is basically Old School Millennials, then you have to offer customer services and experiences that aren’t just on the web.

Conclusion Millennials are a dominant generation that is persuading the buying choices of other demographics. And it means only one thing for businesses – it is time to move beyond good customer service and lay emphasis on ‘customer service experience.’ Brands need to ensure that their customer service is not constrained to only resolving concerns as and when they come. In order to enhance the customer service experience, the brands should offer selfservice and crowdsourced customer service facility, personalize the experience for customers, share company values, use the latest technology and let the millennials co-create the brand..

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FEATURED ARTICLE Change Management -Abhishek Patra, XIMB We often refer change as making or becoming something different. Now, what is Change Management? It is the way organizations become a newer form of themselves through transformation with the use of available resources. It has been in theory as well as in practice more than decades ago. It is a new way of looking at things by the organization.

Along with the change of the organization, it involves the change of the elements in it i.e. people driving the organization and the culture and values binding the organization. It is usually done in the top-down manner with proper clarification of the changes made inreaching every level in the organization. Reasons Every organization at some point or the other has felt a need to bring about some change.

There may be any reason behind that. It may be to create a newer image of itself in front of the people, adapting to newer technology, change in business trends, survive in the dynamically changing market, and many more.The reasons in the recent times have been the rise in social media presence and mobile adaptability. With such varying number of reasons, the top management and strategic leaders are always required to be on their toes. The basic methodology: Identify the changeTo identify whether the organization needs a change or is it better to run the same way as it is now.

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The detailsWhat are the things that need to change: the process, the people, etc.?

The approachOne needs to critically examine all the factors or stakeholders that are going to be affected when the change will be brought about.

ImplementAfter critical analysis, it is necessary to come out with the most suitable action plan. This step will involve forming the proper plan as well as making sure that people accept it and work in sync with the organization.

MonitorThe last and crucial step is to monitor whether the implementation is going in the right direction or not. The management should make a review as to what internal and external changes have occurred after the organizational change has taken place.

This methodology may not be exactly same for all. But it is more or less the framework adopted by a numerous companies for change management.

Efficient change management implementation can be through the right use of technology and direction in topdown manner.

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FEATURED ARTICLE  British Airways

In the year 1981, a new chairperson was appointed at British Airways. He identified that many valuable resources were being wasted and thus the efficiency of the company was very low. He took the decision Models There have been models provided by of reducing the workforce as a way to tackle intellectuals who have invested their time in the prevailing issues. As this decision would affect the present employees in the company, the field of management. Some of them are: John Kotter’s 8-Step Process for Leading he rightfully justified his stance by explaining everyone why he was after redesigning the Change by Dr. John P. Kotter Deming cycle of Plan-Do-Check-Act by W. structure of the company. This way he led the company through a bad phase.

Edwards Deming These models have helped many companies to make use of Change Management. Models provide the base for them to work out their strategies and action plans right from the basic step till the final implementation and evaluation. Examples There are many instances that have proved that change management if implemented properly, turns out to be fruitful for the organization. Some of the notable ones are:

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 Pearson At the end of 2012, the big publishing house Pearson made a change in its organization. At this time John Fallon took the position of CEO, and just after his appointment he made a very big decision called the “Global Education Strategy”. Through this, he made changes to the existing structure. He divided the workforce into 6 different business units and made some more vital changes.

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Challenges Like any other technique or method, change management also faces challenges, mostly within the organization. Most of the times, people are unwilling to accommodate to the change. They resist changes. Sometimes, the decisions taken by the top management in making the changes go against them, rather than those going in favour of the organization.

This is due to the lack of proper matching of people and their skill sets. There can also be a chance of improper integration between the top and bottom levels of management.

Conclusion Change management is a small concept with a broad scope. It is based on how organizations adopt it. The leader is the most important factor behind successfully implementing change management. The leader and the top management should deal with setbacks in a positive way and look forward to the integration of all the employees and stakeholders with the changes and the new way of looking at things.

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FEATURED ARTICLE Changing Leadership Styles -Nishiggandha Kerure, IIM Shillong Paul Wolfowitz, former President of the World Bank, is widely considered to have failed in the position because of his flawed leadership style.

He often attempted to impose his ideas on others, distanced bank officers instead of collaborating with them and assumed dissidents to be corrupt or ineffective at their job. Steve Jobs, Co-founder of Apple on the other hand, was famous for his temper, headstrong nature, for overworking himself in his pursuit of excellence and demanded the same devotion from his employees. And yet, his success (along with that of Apple’s) is quite unparalleled decades after its humble beginning. Two different, unrelated examples, personalities and organizations and yet they teach us so much about what constitutes effective leadership style and more importantly, what does not.

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Thanks to the various leadership and personal mastery “electives” offered during the course of management education, most of us, by now, are familiar with different kinds of leadership styles: Autocratic, Bureaucratic, Coaching, Democratic, Emergent and Facilitative amongst many others. As we learn from the abundant examples of successful leaders and their failed counterparts, it is not difficult to see that the fundamentals of leadership are timeless. In another era, Peter Drucker, the world renowned management guru, said that leadership meant doing the right things as opposed to mere management which is tasked with doing things right

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FEATURED ARTICLE The ‘what’ of leadership has remained the same even today, what has changed is the ‘how’.

In the American work force, the percentage of lawyers who were women stood at 2% in 1960. That of banking and financial management jobs held by women was a nonimpressive 9% as well. Even in the 21st century, this statistic has not reached the half-way mark though we have realized that talent is randomly distributed across both the genders! As regulators establish policies such as a mandatory women director on the board of every organization, today’s leaders will have to ensure inclusive work environment that does not discriminate against or for the undue advantage of any one particular gender. Getting the work done is no more the criteria for good leadership afterall.

The rise of corporate citizenship and awareness regarding giving back to one’s own community has resulted in an unavoidable, uniform 2% (minimum) spend for CSR. But ethically conscious leadership has managed to stay one step ahead and gone above and beyond that was required of them in terms of sustainable initiatives, integrity and transparency. Competing with increasingly ‘commoditized’ products and services, leaders of the changing times will have to emphasise that their brands are distinguished on the parameters used by the educated, always-connected, well-travelled and globally aware segment of millennials whose share of and influence on purchase decisions is only growing.

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These millennials themselves are causing an alarming war for talent, with 44% of them stating that if given a choice, they would quit their current employer for another one or to do something different.

Apart from the traditional monetary and non-monetary rewards, employees are attaching more and more significance to doing meaningful as well as challenging work, receiving all the growth opportunities possible and being mentored to take on leadership roles tomorrow. Leaders’ human resource policy in thepresent attrition heavy context will have to include more than the uninventive, transactional carrot and stick system: a proactive recruitment philosophy that does not only match the job specification to qualifications and skills of candidates but also brings along the cultural and aspirational ‘fit’ for long-term success of the hiring. HR is not just another function in organizations that can be delegated to domain specialists but needs the attention and support of the top management.

The success of unicorn start-ups, easier access to funding and more favourable environment through movements such as ‘Start-up India, Stand-up India’ have been catalysts for entrepreneurship in the country as in several other emerging and developing economies. These businesses (“defined” as to have revenues less than or equal to INR 25 Cr) have created or adopted completely different work cultures as compared to established conglomerates.

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FEATURED ARTICLE

I The flat, non-hierarchical organizational structure here thrives on meritocracy, enhanced and encouraging risk-taking and last but not the least, an open-door policy that stimulates exchange and development of fruitful ideas. f leaders are to attract and retain competent talent and utilize it to thwart off threats from disruptive and agile start-ups, they must learn to inculcate the best ofintrapreneurship even if their revenues far exceed the figure of INR 25 Cr. Successful leaders will be those who in addition to their stated job responsibilities manage to keep up with this dynamic VUCA world and the countless challenges it throws at us every other day.

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SquareHead

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7. Facebook's Internet.org is now renamed to?

BUZZ PUZZLE

ACROSS 3. This brand’s new campaign is called #ReleaseThePressure. Name the brand.

5. This online furniture rental company has come up with a new digital campaign titled 'Own experiences' that has been well accepted. Name the company.

7. This movie won the Academy Award for best motion picture 2017. Name the movie 8. Potential merger in the telecom industry between Idea and __________ 10. Whatsapp to launch new Whatsapp status which is a version of _________ stories

CLUES

DOWN 1. McDonald's appoints _____ Outdoor Media Solution as Outdoor agency for the brand across the country.

2. A tech giant has partnered with a UK designer Michael Cowan, to create 'really blue' jeans for their new smartphone. Name the smartphone.

4. This new telecom just added 100 million customers to its network. Name the network.

6. United Colors of Benetton (UCB) the global fashion brand has recently released an ad film called ________ talking about gender equality.

9. Bajaj’s new competition to Royal Enfield is called __________ Answers: ACROSS: 3- Mirinda; 5- Furlenco; 7- Moonlight; 8- Vodafone 10- Snapchat DOWN: 1- Madison; 2- Pixel; 4- Jio; 6- UnitedByHalf; 9- Dominar

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Call for ARTICLES CALL FOR ARTICLES MARCH EDITION 2017 Articles can be sent on any one of the following topics*:

1. Building a business on backing of Facebook Live!

2. Marketing’s latest innovation: The time Machine 3. Marketing Healthy Food: Strategies To Make Discovery Easier *Please ensure that there is no plagiarism and all references are clearly mentioned.

1. One article can have only one author.

2. Your article should be approximately 800-850 words and MUST be replete with relevant pictures that can be used to enhance the article.

3. Font Type: Gill Sans MT 4. Font Size: 14.

5. Send your article in .doc/.docx format to marksman.simsr@somaiya.edu 6. Subtitle line: Your name_Institute Name_Course Year 7. Kindly name your file as : Your name_Topic The best adjudged article will be given a Winner’s Certificate.

Deadline for the submission of article : 20th March, 2017

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The TEAM TWEETS by Ashka Mevawala It’s all about AD-itude by Ishita Shah Brand MARKive by Mansi Mahajani COVER STORY by Ishita Shah

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SPECIAL STORY by Ishita Shah FAUX PAS by Shikhar Dubey HALLMARK CAMPAIGN by Abhishek Bhardwaj PIONEER by Vivek Gariba BOOKWORM by Dipika Soneja SquAreheaD by Kashyap Salvi BUZZ by Ashka Mevawala KickStart by Shruti Mohapatra PROOF READ by Anchal Pandey Rohit Radhakrishnan Shruti Sharma Deep Shah DESIGNING by Ishita Shah Kashyap Salvi

PROMOTIONS by Ishita Shah Kashyap Salvi Anchal Pandey Rohit Radhakrishnan

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The MARKSMAN is the newsletter of INTERFACE, the Marketing Club at K.J. Somaiya Institute of Management Studies and Research, Mumbai.

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