The Marksman- November 2016 issue by The Marksman

EDITOR’S NOTE Dear Readers, It gives us great pleasure to bring to you another interesting issue of our very beloved Marksman. We have curated for you a broad spectrum of interesting articles that should enhance your understanding of marketing. Our cover story for the month is about the science of discounts and the impact it has on purchasing behaviour of an individual. The special story talks about the search marketing ; a type of online marketing which is used to increase the visibility of various websites. We would like to congratulate this month‟s call for article winner Rahul Thukral, NITIE Mumbai – whose articles have been featured in this issue. For the remaining entries, we would like to thank you all for your incredible response and encourage you all to keep writing to us with the great enthusiasm. Enjoy Reading! Stay with us on www.interfacesimsr.com/index.php/marksman Follow our Facebook page for more updates.

NOVEMBER 2016

Content Tweets

Itâ&#x20AC;&#x2122;s All About Ad-itude

Brand Markive

Cover Story

Special Story

Marketing Faux Pas

Hall-mark Campaign

Pioneer

Bookworm

Kickstart

Featured Article

Square Head

Buzz

THE MARKSMAN

TWEETS #LafemmeMotarde

The issue of Breast Cancer is a very sensitive and often stigmatized topic in India. Incidentally it happens to be the largest cause of cancer death in women across the world. â&#x20AC;&#x153;La femme Motardeâ&#x20AC;?, is a women only bike rally organized by Fortis la femme hospital to help increase and generate awareness on the issue of breast cancer. Fortis La femme has teamed up with event organizers WOOT Factor Events Pvt Ltd with the aim to urge every woman across society to stand up and support and participate in the rally. The choice of motorbike rally is specifically chosen to show the strong, independent, rugged image of modern women capable of handling her situation. The event kick-started on the 13h of November and will further continue in Delhi and Bengaluru.

NOVEMBER 2016

TWEETS #Perfectselfie The upcoming mobile company in India-vivo would soon be launching a new camera centric phone, pitched as vivoV5.the phone is equipped with 20MP front snapper and is being marketed as ultimate phone for selfies. It is a demand well catered for as per the current trend amongst the people. The company has started a twitter initiative engaging the people to take selfies with their friends and family with this phone. The peppy exercise is backed by fun tips to take selfies in order to garner more interest. This has helped to position phone as the first choice when it comes to taking pictures.

#Samvaad4tribe Every year TATA Steel‟s tribal cultural society organizes a tribal conclave under the name “samvaad” at Jamshedpur. It aims at preserving and promoting the tribal culture of the country. Starting from 15th November, this tribal conclave is celebrated in honour of Birsa Munda, the iconic tribal fighter of Jamshedpur. It invites the tribes from all over the country to come together and discuss their culture and aspects of life. This is the third edition of Samvaad and is dedicated to the “tribal health culture.” 250 different tribes from all over the country are expected to be the part of the conclave. Along with the discussion of health, medicine, nutrition etc. they are organizing a tribal fashion show on the last day of the conclave.

THE MARKSMAN

IT’S ALL ABOUT AD-ITUDE Print Ad: Wrigley’s

When all of the country is actually facing the money draught and going cashless, Paytm was cashing in the opportunity of demonetization of 500 and 1000 rupees notes. Paytm which is run by One97 Communication Ltd is digital paying platform wherein you put the money in the integrated “wallet” through various modes of online payment. It can then be later used as per our needs. The demonetization has been super useful for them. As and when the news flashed, they brought in their huge marketing campaign promoting the use of Paytm wallet. With changing taglines from “Chinta nahi Karo, Paytm karo” or “Drama nahi Karo, Paytm karo”, they came on to the recent one which stands so apt in today‟s condition “ab ATM nahi, Paytm karo”. They also used the face of Shri Narendra Modi in the ad. With many controversies related to the ad, it still did convey what it was meant for.

NOVEMBER 2016

IT’S ALL ABOUT AD-ITUDE TELEVISION AD: LET’S GO THE SARAH AND JUAN WAY!

A little time ago, the Wrigley‟s marked a benchmark by showing a cute love story of Sarah and Juan. And now the Wrigley‟s India decided to create the same impact by “Indianising” the concept. It wasn‟t an easy task for the BBDO India team to recreate the advertisement with the same essence. They had to work on it in a way that the Indian audience could connect to it. M V Natarajan, Managing Director, Wrigley India, says that mint, as a category, is still nascent in India and with this advertisement, we are trying to bring a change.” Their campaign #startsomethingfresh encourages t A little time ago, the Wrigley‟s marked a benchmark by showing a cute love story of Sarah and Juan . And now the Wrigley‟s India decided he people to be much more confident and make new connections. The track “Ek Ajnabee Haseena” works like a charm for the advertisement. The advertisement is getting mixed responses and the coming future will tell how deep its impact stays in the audience‟s mind.

THE MARKSMAN

BRAND MARKive Tesla Motors Named after the great Serbian inventor, Nikola Tesla, Tesla motors, was founded in 2003 by Martin Eberhard, and Marc Tarpenning. Elon Musk later joined the company, with his personal funds of 8 million $ The company produces beautiful sports electric vehicles. It is the second oldest publicly traded auto company in the United States, after Ford Motors. It is also the first successful auto start up since Chrysler, in the United States. Tesla in its brief existence has a market capitalization of more than 33 US Billion Dollars, which is more than the market cap of Fiat, Mitsubishi, and Chrysler, combined. Tesla has the ultimate aim of making electric vehicles a mass means of transportation. Tesla first built the Roadster, for the incredibly wealthy. Then they built the Model X, costing upwards of 80000 USD. Then came the Model S, which was its biggest hit. In 2016, something remarkable happened. Within a week of its latest carâ&#x20AC;&#x;s (Model 3)launch, it received almost 400000 pre-orders. That&#39;s around 13 Billion USD, of advance money, for a car, that had not been yet seen by anyone in the world, and that, which was going to be delivered only after 2 years. The biggest and the most spectacular launch of any product ever in the world. Tesla is likened to Apple/Google of the automotive industry, with over the air updates to its car every three months, which means, a much older Tesla has the same features as a newer one. Remarkable! It

NOVEMBER 2016

BRAND MARKive spends 0$ on advertising because it‟s all the time in the news. This kind of recognition can‟t be bought, its earned. The reasons can range from getting labelled as the safest car ever, Model S with a rating of 99/100, by two of the biggest unbiased safety rating agencies, or just the fact that Tesla sells a slice of the future. Also, the fact that its revolutionary inventor, CEO Elon Musk does many interviews, and he&#39;s working on a lot of exciting and interesting projects. That‟s all the marketing he needs .Lesson learned- Do something cool and the media will beat a path to your door. The American Marketing Association has hailed the Model S, the best car of the last 20 years. Morgan Stanley calls it the most important car company in the world. It has a supercharging network throughout the USA, Europe, and Asia Pacific, which means one can travel freely without the tension of charging their cars. According to Forbes, Tesla has been the most innovative company for 2015 and 2016! A car company is on the right track, when the executive chairman of Ford motors, Bill Ford, says “My hats off to them”.

THE MARKSMAN

COVER STORY The Science of Discounts Before moving on, let‟s answer a question. But they are saving only 30% on the total Which one of the following looks a better purchase. Hence, it‟s not as enticing as they deal to you? think. Although the fundamentals of the economics will maintain that the consumers 1.)Rs 2000 off on Rs 30000 PC. truth is “Discounts have a big impact on 2.)Buy one Trouser for Rs 800 and get purchase behaviour.” Most people consider another on 60% off the color aspect as something that came . 3) A Rs 300 watch earlier priced as Rs 400. out of a random choice. Well, there are high chances that it might not be the case. In the scope of content marketing, color could be an emotional cue. Color can also help you to stand out in the vast ocean of content marketing. Brothers and Sisters of Discounts 1) Rupee or Percentage off: This version of discount is prevalently used. It could be in the form of money or percentage viz. Rs 80 off or 10% discount. The offer might be present on a specific product or on an entire order. 2) Buy one get one free (Bogo): This lures the customers to buy more. Examples are, “Buy one get one free” or “Buy one get Food for thought- would you rather pay full 80% off on the next one”. price for a product or opt for saving a few 3) Volume discounts: These include “buy six pennies. Discounts sound as appealing as items to get 7th free” or “get 20% off on a freebies. So, chucking off some bucks from the purchase of Rs 9000”. This encourages price tags would appeal the mind of shoppers. them to buy more. Usually, they don‟t will act in the most 4) Rebate: An amount returned to the practical and self-benefitting way, but they customer after their initial purchase, such don‟t like to do Math. So instead of killing as “Rs 8750 after rebate”. their calculator buttons they focus on the 5) Free shipping: It very popular in online figures given. Most consumers feel that 60% purchases. It removes them shipping cost from the order. Mostly, this service is off is a good deal to go for.

NOVEMBER 2016

COVER STORY

provided after a certain amount viz. “Free shipping after you spend Rs 500”. When the storage of the retailers are flooded with products then they use the discount pricing to sell low pricing products in high quantities. Big retailers are able to demand price discounts from the suppliers and make a discount pricing strategy.

The Charm Price The moment you walk in the store, the only number you will see is “9”. Does it really work? How can a difference between 99 and 100 affect the customer? These prices are designated as “charm prices”. In an experiment tested by MIT and the University of Chicago, a standard women apparel was tested at the cost of 34,39 and 44. Unexpectedly, the item was sold more at the cost of 39 than the cheaper 34 price. Amazing, Isn‟t it? But Is there something that can overpower number 9? Study had shown that the sale price that highlights the original price, do seem to beat out number 9 when split tested. Here, the left one won.

Probably, 9 isn‟t that unfathomable! Really? The number 9 still conquers when its used along with the sales price. Therefore, this was considered the best of all:

The Price Perception: Context Matters An experiment was conducted wherein two scenarios were tested for a normal exercise i.e. buying a beer for a friend. The participant asked the friend if he wanted a beer and specified that it is going to be arranged from a local grocery store. In the second one, the participant was told that it will be bought form a posh hotel. Remember, the interiors of the hotel has nothing to do with the results and the beer was to be imbibed on the beach. The Researcher “Richard Thaler” concluded that people don‟t like paying the same amount for both places, even though the beer is exactly the same.

THE MARKSMAN

A child suggesting her mother to smoke

COVER STORY

Similarly, in a case study a turquoise jewellery was supposed to be tagged at half of the current value. Instead, it was mistakenly priced as double the initial price. The exaggerated rate has made the jewellery noticeable to the buyers who were ignoring the colour over all of the others. After this appraisal, the turquoise had a high value in the customer‟s minds. In n nutshell, the perception matters a lot. Assumes faith An increase in the price of an item by 25% and then offering discount of 25% will make the customers believe that it was legitimate reduction from the original price. This assumed trust in the discount makes leads to a feeling of excitement towards the offer. Reduces search tendency According to the various studies, offering of discount in any form impede the customers from searching elsewhere. It‟s of utmost importance for eCommerce which is flushed with options. This is because it develops a sense of urgency to buy and help in distracting the consumers from other alternatives. It tempts the buyers to purchase sooner. This occurs because they think the discount won‟t last forever. Companies often use different tactics to create this perception. One of the most famous is “One day only” or “last chance” messages. One of the downfall is that the customers are accustomed to discount and they expect the same every time they make a purchase .They avoid buying at a regular price and don‟t wait for long before moving onto the competitor‟s service.

NOVEMBER 2016

COVER STORY . the online shopping industry, this is In extremely true with the availability of free shipping offers. The Dark Side Discounts can also lead to dissatisfaction to the clients. They might ask for the reason of discount. They gaze at the usual price that they pay and then look at the discount and smell a rat. Moreover, if they recently paid a full price for a service that is now on a sale, they feel cheated. Hence, a valid reason must be present along with specific rules of discount. Volume discounts are the best way to go. We are trained to think that the more we buy the cheaper it will get. So, customers arenâ&#x20AC;&#x;t generally sceptical when such discounts are offered.

To Wind-up Use of discounts is a strategy that is frequently used in the current marketing world. It would be wise for the marketers to know that the consequences of discounts go beyond the financial aspects and can affect the emotional side of the costumerâ&#x20AC;&#x;s mind. It is a tool that needs to be used with caution.

THE MARKSMAN

SPECIAL STORY Search Marketing “The internet is becoming the town square for the global village of tomorrow”-Bill Gates Needless to say that the internet is extremely indispensible today but the above quote by a world‟s visionary that everyone looks up to, only reinforces the relevance of internet in every walk of life. With times becoming increasingly difficult and challenging, brands and businesses are looking for more efficient ways to spend their marketing budget. If one has a business and aims at getting the maximum exposure possible then one cannot overlook the power of the search engines. Digital marketing is humongous and Search marketing is one such tactic of digital marketing that we will focus on in this article. Search Marketing is a type of Internet marketing associated with the researching, submitting and positioning of a website within search engines to achieve maximum visibility and increase the share of paid and/or organic traffic referrals from search engines. Search Marketing makes use of both paid and unpaid efforts. Search Marketing encompasses SEO (Search Engine Optimisation) which is earning traffic through unpaid or free listings and Search Engine Marketing (SEM) which involves buying traffic through paid search listings. Search engine optimization (SEO) involves getting traffic from free, organic, editorial or natural search results on search engines. Whereas Search Engine Marketing (SEM) is the form of marketing that involves promotion of websites by increasing visibility in search engine result pages (SERP) mainly through paid advertising.

NOVEMBER 2016

Paid listings are of varied types and some of them include-paid placement, shopping search, paid placement, video search ads, local search ads and product listing ads. Further, Search marketing and Search Engine Marketing are sometimes used interchangeably.

In this article we focus on the reasons as to why the use of Search Marketing will prove to be rewarding•

It is important to understand that to navigate through the web everyone uses the net. Google and other search engines are the first point of contact for customers when it comes to finding what is it that interests them online. It would be ignorant to miss out on this huge opportunity of converting targeted traffic who is just a click away.

SPECIALandSTORY also the

•

keywords and keywords Viral marketing can be the most effective phrases that you want your business to form of marketing. The best part perhaps appear for. is that it is free. Word of mouth is the essence of viral marketing and Search • Search engine marketing does not require a large investment on your part. marketing can be a great tool to get the It is cheaper than traditional methods of necessary word of mouth that can boost advertising. Pay per click will only cost business by giving it a necessary talking you when one actually clicks on the ads point. and the best part is Search Engine Optimization will not cost any money at If your website isn‟t optimised for all. Search Engine Optimization is in fact specific keywords then that implies you like an investment instead of a cost. are invisible to your online target Search Marketing is thus highly cost audience. Thus, it is absolutely important effective and will not take away a major to employ Search marketing techniques, share of the budget. using either unpaid or paid methods to be able to generate the necessary • SEO can help make the brand stronger, visibility and traffic for your product. better, well recognized and attractive. The ultimate goal should be that when By having an effective and useful website people search for. business critical and we actually use a 24 hour online sales relevant keywords and phrases, they representative who will be available to should find your website at the top of prospective clients. If relevant and search results. This also helps psychology effective content is put up in your take over and prospects will end up website then part of your sales pitch is believing that you‟re the best. already done for you that can bring in leads.

•

An effectively managed Pay per Click • campaign can provide huge number of leads and prospects within hours. The ads can help in placing the product in the major search engines and instantly bringing in highly converting traffic.

•

The business is in complete control of the budget and campaign which implies that one can control the daily, weekly or monthly budget, the duration of the ad

Your website‟s title and content can send out a powerful statement that strengthens your brand and translates a very good brand image among prospective leads. Just by viewing your web page that appeared at the top of a customer‟s search a very positive impression can be created and the next time the customer is looking for a product he/she may consider it seriously.

THE MARKSMAN

SPECIAL STORY With „Googling‟ becoming a verb, firms should without a doubt tap the potential of Search marketing in getting to the prospective customers and imprinting a long lasting impression in their minds that will eventually help in creating a brand name that people can‟t ignore. These days, everybody “Google(s) it” and thus if you‟re there, right on top of the SERPs, it goes a long way in boosting your credibility. If you‟re right where your customers are, at the right moment, with the right solution, you‟ll win. However, being there is only one step of the process. One has to provide the best solutions to the problems the prospects face to be able to stay and be successful. You ought to get inside the heads of your prospects, speak their language and feel their pain.

NOVEMBER 2016

MARKETING FAUX PAS Pepsi The Coca Cola and Pepsi rivalry is not new for anyone. As an intended response to Coca Cola‟s strong cola drink, Thums Up, Pepsi came up with their own version of a strong cola Pepsi Atom. Furthermore, in order to make a grand entry in the market for the new product, Pepsi spent approximately 396 crore to buy the title sponsorship of IPL-6 to get the necessary visibility and hype for the new drink. Thums Up has always been positioned as a masculine drink, featuring Salman Khan doing some insane stunts and referring to the cola bottle as a “Toofani drink”. Pepsi wanted to position Atom as a stronger, fizzier and a sharp tasting drink to compete with Thums Up.

In spite of launching Atom at such a grand platform, catching the fantasy of the younger generation, and having a global brand name, Atom failed to stick around in the market and was rejected by consumers.

Promotion: Atom‟s tagline, “Piyo Josh Mein Jio Hosh Mein” was not that effective as Thums Up‟s “Aaj Kuch Toofani Karte hain”. The face of Pepsi Atom, Sushant Singh Rajput, didn‟t have that appeal or connect with the audience back then, and was no match to Salman Khan‟s huge influence and hold over the audience. Packaging: The design of the PET bottle was also not very catchy or innovative. The bottle looked very old. Pepsi is known for its youth appealing designs but it failed in its packaging with Pepsi Atom. This was a very good example of how brands should try not to imitate one another, and always try and come up with innovative and original product and market development strategies.

The product mainly failed in 3 aspects of the modern marketing mix, i.e. Product, Promotion and Packaging. Product: Pepsi Atom was pitched as a competitor and better option to Thums Up, which was known for its iconic strong fizz and taste. Atom tasted more like a cinnamon cola, and didn‟t have that strong fizzy taste consumers were already comfortable and used to. The product didn‟t meet the customer‟s expectations.

THE MARKSMAN

HALL-MARK CAMPAIGN Hello Moto Motorola merges nostalgia with innovation Itâ&#x20AC;&#x;s a known fact that Lenovo's 2014 acquisition of Motorola Mobility didn't pan out as expected, with the sales of Motobranded and Lenovo-branded mobile devices still on the down side. The company even went as far as saying it will no longer use the Motorola branding, gradually indicating its demise. But Lenovo cannot deny the popularity Motorola had as a brand, particularly with its "hello moto" campaign which was highly successful in the past.

A "hello moto" boot animation was also posted on Motorola's Twitter account recently, indicating Lenovo's strategy to keep the Motorola brand along with its iconic features intact. The traditional Batwing logo is also back in the animation and will feature in the power-up of upcoming moto phones. According to Moto USA, the boot animation and hello moto slogans are a part of future campaigns leveraging Motorola as a brand.

Jan Huckfeldt, Motorola's CMO believes that the new Moto Z family coming with Moto Mods is the first real change that the industry has seen in years. This is highlighted in the "hello moto" campaign which boasts of transforming your smartphone into a superzoom camera, a projector, a boombox, a battery powerhouse and much more using the mode of your choice. Jan also believes that the campaign will ring the right bells amongst all moto fans bringing back the nostalgia of the "hello moto" sound of the Moto Razr as well as drive a pervasive change in how users demand mobile innovation.

In its first TV ad since 2011, Lenovo owned Motorola not only brought back the traditional "hello moto", but also found a way to get back at its competition. Taking a dig at its competitors Apple and Samsung, who are still battling questionable changes like headphone jack removal and disastrous battery issues respectively, Motorola describes change and innovation as the way forward in its latest "hello moto" campaign.

NOVEMBER 2016

PIONEER Narendra Modi He is currently the most powerful man in our country, but it didnâ&#x20AC;&#x;t always start big for our prime minister. Born on 17th September, 1950 to a family of grocers in Vadnagar, Mehsana District Gujarat. His father was a street merchant and young Narendra Modi sold tea with his brother at the bus terminal to help out his father. He was an average student in school, but spent hours in the library and was known as a strong debater by his classmates. In his early teens, he joined Akhil Bharatiya Vidyarthi Parishad, the student wing of Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist political party. Married at an early age of 18 but he chose to spend little time with his bride. The two eventually separated. He decided to dedicate his life to politics, joining the RSS in 1971. During the 1975-77 political crisis, the then Prime Minister Indira Gandhi declared a state of emergency, banning many political organizations such as the RSS.

Modi then went on to write a book, Sangharsh ma Gujarat (Gujarat in Emergency), which chronicles his experiences as a political fugitive. In 1978, Modi graduated from Delhi University with a degree in political science and completed his masterâ&#x20AC;&#x;s work at Gujarat University in 1983. In 1987, Narendra Modi joined the Bharatiya Janata Party (BJP), which stood for Hindu nationalism. His quickly rose through the ranks, wisely choosing mentors to guide him in his career. He promoted both privatization of businesses and Hindu values. Seeing his commitment, in 1995, Modi was elected BJP national secretary, a position from which he successfully helped settle internal leadership disputes, paving the way for BJP election victories in 1998. In 2001, BJP had lost seats in the by-elections.

THE MARKSMAN

PIONEER There were many allegations of abuse of power, corruption and poor administration, and BJPâ&#x20AC;&#x;s position in the state had been hampered by its administration's handling of the 2001 Bhuj earthquake. The BJP national leadership sought a new candidate for chief minister, and Modi was chosen as a replacement. On 3 October 2001 he became an interim chief minister, with the responsibility of preparing the BJP for the December 2002 elections. Modi was reelected chief minister of Gujarat in 2007 and 2012. Through these years, Modi spoke more about economic growth rather than Hinduism. He was credited for bringing prosperity and development in Gujarat and is visualised as a corrupt-free and efficient administrator.

His term in Gujarat helped him lay his claim to be the next prime minister of the country. In June 2013, Modi was selected to head the BJPâ&#x20AC;&#x;s 2014 election campaign to the Lok Sabha, thus laying groundwork to historic Lok Sabha elections. In May 2014, he and his party were victorious, taking 282 of the 534 seats in the Lok Sabha. Thus, this inspirational journey from a tea vendor to the most powerful man in the country was complete giving India one of its most charismatic leaders in recent history. .

NOVEMBER 2016

BOOKWORM Epic Content Marketing By Joe Pulizzi The world is changing at a rate faster than we can fathom. Gone are the days when the producers dictated the rules of the market. It‟s a new world. Today, consumers are the price givers. They hold the power to dictate the market trends. No longer can we understand our customers with mediocre content and run of the mill techniques which they don‟t care about. To tackle this problem, one of the world‟s leading experts on marketing, Joe Pulizzi has come up with his book- Epic Content Marketing. As the name suggests, this book is an epic in the fact that since its release in 2013, it has won multiple awards and featured in the top marketing books of all time. This book takes you through a step by step process of how to create content that compels the customer to engage with, without actually telling them to. Joe Pulizzi believes that content, distributed to the right person at the right time, is the best way to capture the hearts and minds of customers. Once we hook the customers, our sales are bound to touch the skies. If you are a marketer, this book is a must read.

THE MARKSMAN

KICKSTART MERAKI “Doing things with love, passion and a lot of soul. “

And standing on their words, Meraki Studio is bringing you some engaging content through an experiential medium. All the experiences that were once captured in photos and now in the galleries of our phones are just snapshots of events that have passed by. The real emotions attached to the moment are left to imaginations of the viewer; in many cases the viewer may be an individual who wasn‟t part of the moment. While nothing can change that fact, but to bring them that much closer to those special moments is exactly what Meraki is trying to achieve. It gives its audience a magnified sense of emotional engagement and it rewrites the rules of storytelling.

Meraki Studio was started by Sairam Sagiraju, Parth Choksi, Agam Garg in 2015 and is India‟s leading Virtual Reality Studios for 360 degree experiences. With Virtual reality set to be the next big bet for Indian Filmmakers and many companies like HP, Lenovo, Dell Acer and Asus starting to take keen interest in VR , Meraki is riding this wave through production in Events, Concerts , Ads , Tourism, News , Fiction , Sports and adventure Sports. Meraki also specialises in weddings which is an innovative addition to their portfolio.

Although still in its nascent stage Meraki has already completed some interesting projects. Radhika Apte’s house in the film Phobia being one of them. With expertise and innovation by their side, Meraki promises to be the torch bearer for the industry in the coming years. Because your special moments deserve better !

NOVEMBER 2016

FEATURED ARTICLE Changing Leadership Styles -RAHUL THUKRAL, NITIE, MUMBAI A leader is somebody skilled in knowing how to break down and enhance the capacity of the association to survive and develop in an unpredictable and changing world, for which leaders are accepting awesome parts that are both noteworthy and basic.

Context, “change leadership” is increasingly supplementing the concept of “change management”. While change management focuses on bringing the change effort under control, change leadership is more visionary in nature and creates a fundamental traction for change. Change leaders in many organizations effectively navigate through the change process by demonstrating appropriate leadership behavior during each phase of the change.

In phase-1, the leader highlights the problem areas through discussions. She tries to create a compelling business case for change keeping in mind various risks associated with the change. She further clearly details out the final change outcome and the picture of success. In phase-2, the leader brings together the right set of people and establishes the traction for change. She in turn identifies multiple stakeholder groups and creates appropriate involvement strategies. In this phase, the leaders also entrusts those who have been instrumental in framing the change vision with key tasks. In phase-3, the leader sustains the momentum for change by consolidating individual change initiatives into a coherent whole. She highlights the improvements and tracks the benefits realization.

THE MARKSMAN

FEATURED ARTICLE The leader also helps provide supportive organizational infrastructure to affect the change.

rising as key drivers of progress. Additionally, in the present decade, talent shortage has necessitated more rapid acceleration of young executives up the corporate ladder. The business industry, today, is undergoing a rapid change. From the dot-com boom and bust through the recession phase, a number of industry giants have marched across the front pages into infamy. A combination of increased market and global competition, regulatory demands, new microeconomics trends, technological changes, and demographic shifts have all led to this new business climate.

While twentieth century associations were more bureaucratic, Multi leveled and control driven, current associations are all the more approximately organized, limited leveled and interest driven. The degree to which an association stays aware of the floods of progress relies on upon how well the authority approach is adjusted to the vital aim of the association. Thus, administration styles and methodologies have seen a consistent move in their pertinence relating to the need and necessity of various business eras. Numerous associations of current times are confronting exceptional difficulties to keep pace with the expanding rate of progress. Globalization, speed of development, changing workforce demography and changing customer inclinations are quick

NOVEMBER 2016

During the business era from mid 1800s to 1970 which saw the advent of industrial revolution and production era and there was a shift from agriculture, handicraft economy to manufacturing. With control being the primary focus, the leadership style was autocratic, democratic, employee orientedproduction oriented, people oriented-task oriented. Chain of command and downward communication became predominant. In the production era primary focus was to increase output, achieve standardization, economies of scale and operational efficiency. This era also saw the coming up of famous theories: Theory X and Theory Y given by Douglas McGregor. From 1970s to late 1900s which was an entrepreneurial period and marketing period with the essential concentrate on corporate arranging, area administration, benefit introduction and research and advancement.

FEATURED ARTICLE From 2000 and past where business is more in light of connections and associations are endeavoring hard to stay aware of the innovative headways, changing client and representative inclinations. To stay aggressive in the market organizations go for mergers, joint endeavors, acquisitions and vital cooperation. Pioneers are coordinating angle from both value-based and transformational authority. Value-based initiative expands on the man's have to take care of business and bring home the bacon, while transformational authority bids to the Change turned into existing conditions and man's requirement for importance and no initiative style specifically was higher reason in life. The administration overwhelming. Initiative style was offering, style is inspiration, enabling, self-governance, telling, assigning, encouraging and participative. coaching, grant discipline. This time saw the situational and contingency theories which says there is no single Instead of the traditional idea of leadership widespread method for driving all in which the leader is tough-minded, in circumstances. Business visionaries embraced control, and functions in a top-down forceful advertising techniques to make a situation, the leader now needs to be more specialty for themselves in the commercial of a collaborator and facilitator in a volatile center. Overwhelming business topics were climate. The leader requires to transfer brand situating, online business and esteem power to lower levels of the organization in included administrations. Trademark highlight the hope of â&#x20AC;&#x153;maximizing the full potentialâ&#x20AC;? of authority approach was being adaptable of all employees. and versatile.

THE MARKSMAN