“New media is hot buy today”

Media agencies have evolved from only buying print, tv, cinema, radio and outdoors to doing lots of digital buying, says Dnyanada Chaudhari.

As a media planner what is the environment like today and what are the fundamental challenges for professionals in this industry?

The fundamental challenges for us are that we need to keep up with the whole dynamism of the changing landscape. We have to be up and about regarding the changes taking place around us. Just look at the programmes on television today. Every month they are changing. As a media buyer we go where the consumers drive us and the consumers are buying into these changes. In such a dynamic media environment, we have got to keep up with the changing times and also figure out what’s going to last. So keeping your ears to the ground, assessing the changes and the kind of impact they will have on the industry, figuring out the long-term trends and dealing with lots of uncertainty around are the challenges we face today.

How would you describe the evolution of media buying agencies in the face of so much changes taking place in the sector?

I think the whole media consumption pattern is changing and a lot of new products have entered the market, which reflect the changes taking place around us. A lot of new advertisers with novel ideas and skills have come up, which is helping advertising to break new and fresh ground. Till sometime ago, the role of most media buying agencies was limited to only trading and buying media space for their clients. In recent times though, media agencies have taken on a more differentiated role. Media planning has become more focused and there is a much greater emphasis on getting returns for an investment made. So you will find there is a lot of conversation happening on ROI before a buying commitment is made. Similarly, a lot of analysis goes into assessing what the kind of impact would be for taking media space in the IPL or other large media properties. There are hard negotiations on buying terms and conditions besides getting clarity and understanding in terms of what works and what doesn’t.

What are the more visible trends that are impacting media consumption and how are media-buying agencies reacting to them?

Consumerism and technology are having a visible impact on the way we consume media. The impact of consumerism is not just on FMCG consumption but on a whole lot of other things, including media consumption. In the same way that rising consumerism has led to changing consumption patterns, technology is driving consumers to adapt in various ways leading to changes in the pattern of media consumption as well. For example, today mobile phones, which have deep penetration in the population, are used not just for chatting but for hearing songs, playing games, conducting financial transactions and so on. As such media buying agencies are now looking more to the potential of new media and not just at traditional media. The digital space has now become hot for both advertisers and sellers. So a lot of agencies have evolved from only buying print, radio, TV, cinema, outdoors to doing a lot of digital buying.


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Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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Journey to the centre of the heart

The upcoming festive season with some favourable developments is expected to provide the much needed boost to the Gems & Jewellery sector in India.

Circa February 2011: It seemed as if the branded jewellery buyers’ sponsored honeymoon was over. After doing away with 2% excise duty on branded jewellery in 2009-10, Finance Minister Pranab Mukherjee, in the Budget 2011-12, had proposed to again levy a 1% excise duty on the same. Although 1% seems not too high for an excise duty rate, if one were to consider the same with the burgeoning gold and silver prices (while gold prices appreciated by around 30% in 2010, silver increased by a mind-boggling 80%), the multiplier effect was bound to burn a hole in the buyers’ wallets, and in turn the sellers’ pockets, with an imminent slowdown in sales. Even worse: the timing. While the sector was poised to grow at a CAGR of 40% to touch the Rs.100 billion mark by the end of 2011, the announcement was considered a major roadblock for the sector. Did all this hit the sector growth?

It’s been over six months since then and the sector seems to have weathered it all quite well. In fact, a 15.1% y-o-y growth in total exports of gems and jewellery from India during April-June 2011 shows that there’s not much bothering the sector, which accounts for 16.7% of India’s total merchandise exports (as on March 31, 2011). The January-June 2011 export figure for the segment was $25 billion; last year, during the same period, the figure was only $18 billion – in other words, the first six months of this year have seen a growth of 34.17% in exports. The Hong Kong jewellery fair, held every year from September 19 to September 25, is considered to be Asia’s largest gems and jewellery expositiong. 3,300 and above exhibitors from 46 countries, 50,000 plus buyers from 135 countries – and you know this is the grand slam of all events for this sector. This year, India has the largest contingent in this event compared to all participating countries. –

But still, for the players in this industry, the most critical market is the domestic one. While the global jewellery market is close to $145 billion in size, US, Hong Kong, China, and India, make up the top consumers of this industry. But recently, the domestic prices of diamonds have gone down by more than 10% – this is because during the fortnight before Dussehra, almost no purchases are made of gold and jewellery as this pre-Dussehra period is considered an inauspicious period to buy jewellery. Also, with gold prices at unimaginable highs (Rs. 27000 per 10 gms), and inflation playing truant with the savings of the Indian consumer, it is true that even the most auspicious of Indian consumers are thinking twice about investing in gold and jewellery – players like Gitanjali Gems have already commented that their sales could get hit by almost 10% this year.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM RANKED NO.1 in MAIL TODAY B-SCHOOL RANKINGS
Planman Technologies

“Our Stars Talk to us in 140 Characters”

What are The Critical Media Vehicles that are making an Impact on The Manner in which Media is being Consumed in The Country today?

Everybody is a part of the media today. Shaping lives, influencing others, sharing one’s thought with the world – in person, over the phone and on the Internet... each one of us are actually a trend that is shaping media consumption in everybody’s life. Who isn’t a content writer or a journalist today? Anyone with a camera phone, with a twitter and an FB account activated can be one. A few million people everyday are reporting, shaping opinions, adding to the roar, scaring the living daylights out of the so-called establishments. Freedom of speech and connectivity together, which is a killer combo, is what makes the media today. And what we see on television, hear from the world over the radio and over our latest gadgets that grant us mobility are all a part of the media that we consume. Can we help it? We live in an ecosystem that is ever-a-changing.

So, if you ask me as to what were the most remarkable trends that have shaped media consumption in India over the last few years, in one word I would say ‘shortening’. Sounds weird, but in other words, it means everything is getting shorter by the hour. Everything is moving towards ‘size zero’. “m gng 2 da prty. r u?” – two decades back, this would sound nothing more than just a couple of randomly picked up alphabets put together in a hurry to make no sense. No more. It’s called the SMS language and is perhaps the new form in which media and information hits us. Our one day cricket has shed some 60 odd overs to become a 20-20. Our stars talk to us in 140 characters on the Twitter. The most watched youtube videos are less than three minute long. The long form editorials and reportage carry embedded in them little boxes with bullet points. We want it short. We make it short. And we deliver and consume it short as well!

There’s a reason for that. Along with China, we are the epicentres of global capitalistic greed, thanks to a billion plus consumers. And, increasing information artillery is making us both hard of hearing and uninterested. So, in the future, its not just simple, but ‘keep it short, stupid’ too. And the Internet, in my opinion, is the biggest bomb to fall on media consumers. It is the most interesting medium to watch out for, as the Internet surely comes across as a trend that is shaping media consumption in India. The mobile phone screen cannot be ignored as the most interesting interface when it comes to thinking about how Internet will influence the way media will operate tomorrow. And that will force people to think of the message in a whole new way. Therefore, mobile penetration would inevitably be the biggest opportunity to watch out for in the context of media consumption.

It’s a time when we are witnessing a ‘democratisation of access’, access to knowledge, entertainment and to a better life. When we talk about mobiles, it will be interesting to point out how I often hear that India missed the era of pagers and straight away got into mobiles. I say, it’s not just pagers we leapfrogged over. With mobile phones, a whole generation has started accessing the Internet on their handsets, without the help of computers too! And that is a massive step ahead. Changes like these leaves everyone guessing, which is a good change in my opinion. Let me move on to the next medium of consuming media – the newspaper. Newspapers, I believe, are not really growing in circulation all over the world. But news is thriving. I don’t expect anything different to happen here in India.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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IIPM: Indian Institute of Planning and Management
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Meet The Biker and The Good Samaritan

Be it Modelling, Acting, Biking–This Tinseltown hunk loves them all. John Abraham shares his Passion for Biking and his way of Serving The Society with 4PS B&M

Your passion for bikes & stunts is a much talked about topic. What’s that one particular stunt you would always remember?
My first wheelie will always remain to be the most memorable one. The best part was that it was a completely involuntary action. In spite of being initiated by a Gujju friend, the experience still remains fresh in my memory.

Which superbike do you love the most in terms of handling and performance?
I am totally taken away by the handling and performance of Yamaha VMAX. In fact, my first bike was also a Yamaha (RD350).

Your advice to the Gen-next stunt performers in India...
It is impossible and uncool to perform a wheelie on a scooter, so don’t think about it. Also, helmet is a must during performance.

You have been very supportive to NGOs. How do you find time for such causes amidst your busy schedule?
It has got more to do with your beliefs. I support these NGOs because I truly believe in their causes. You can always find time to do things that you believe in the most. In fact, I appreciate the incredible support media has lent to the causes that I have taken up time and again in the past.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
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IIPM's Management Consulting Arm-Planman Consulting
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Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM RANKED NO.1 in MAIL TODAY B-SCHOOL RANKINGS

THE TOP FIVE TV COMMERCIALS FOR THE FORTNIGHT - The Idiot Box!

The following points are the deciding criteria for selecting and short-listing the winning TVCs: Product positioning clarity; clinching benefit to the brand; presence of a power idea; visibility of brand personality; expectancy of communication; single-minded focus; reward to prospects; visually arresting and painstaking craftsmanship. Here’s a peek into our TVC verdict for the fortnight ending March 10, 2011

Fevicol
Baseline: Fevicol, the ultimate adhesive
Agency: Ogilvy India

Description: The TVC opens on a hilly road where a newlywed couple is traveling in a mini truck. Every time the duo tries to get cozy, they are interrupted by a cyclist right behind their tail. After several attempts of ditching this unwanted intruder, the husband gets irritated and takes a steep road; but to his surprise discovers that the cyclist still hasn’t budged. He finally gives up; and the TVC ends with a rear view of the truck which is loaded with Fevicol containers.

4Ps Take: There are two things that Fevicol does best – manufacturing superior adhesives; and conceptualising commercials that have the potential of tickling the funny bones of even those who can’t appreciate humour. The current ad is no exception. Backed by a powerful idea and flawless execution, the creative succeeds in sticking adhesive where it matters the most, the prospect’s mind!

Vodafone

Baseline: Faster. Smarter. Better.
Agency: Ogilvy India

Description: A Zoozoo walks into a phone booth and comes out transformed into a Super Zoozoo. He takes off into the sky and proceeds to perform his superhero antics – rescuing a damsel Zoozoo from a bolt of lightning, saving another from a collapsing building while romancing her at the same time, and running faster than a speeding bullet to stop it before it hits someone. Finally, he spins the earth around its axis before flying off, as the screen reads: “Faster. Smarter. Better. Vodafone 3G is here.”

4Ps Take: If you loved Zoozoos (which in all probability you did), then you’ll love this one better. We’d say there can be no better way to introduce 3G services than a super Zoozoo which represents the metaphorical super benefits of a 3G connection. Fantastically supercilious! (Did we get it right?)

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Proves Its Mettle Once Again.....
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management
IIPM RANKED NO.1 in MAIL TODAY B-SCHOOL RANKINGS

Reebok’s very own change agent

From a sports company to fashion, Reebok has walked a long way and the company’s marketing director reveals to Angshuman Paul the secret strategies of this journey….

Sajid Shamim Director – Sales and Marketing, Reebok India

As we sauntered into the third floor of Signature Tower – the office of Sajid Shamim, Director, Sales & Marketing of Reebok India – we were delighted to see a group of buoyant, dynamic people in casual track-suits. A look at this energetic and vibrant team made us wonder how valuable they were for Sajid and Reebok. And the protagonist answered, “It’s the team that knows the pulse of brand Reebok. All our marketing strategies, which make Reebok the biggest apparel brand in India, are a cumulative effort of this team. I individually am a nobody.” A believer of autonomous corporate set-up and empowerment of his team, Sajid is a leader who provides directions, hence allowing ample scope to his team for creativity, innovation and experimentation.

Sajid’s professional life is a classic example of how destiny drives one’s life irrespective of various plans. While pursuing his MBA at XLRI Jamshedpur, Sajid was bent on joining the field of sales – and that too in the area of sports marketing. However, post MBA, he joined Coca Cola, something totally away from his earlier objectives. But it worked. He shares, “Working in Coca Cola was surely very interesting and it was the initial part of my career. Most importantly, it was during my two and half years with Coca Cola that I actually learned the practical aspect of marketing strategies.” Bucked up with valuable experience, he moved on to achieve his pre-decided goal and joined Reebok, which according to him was a very unique industry at that point of time, and required the type of challenges that he was looking for.

Reebok’s India venture, now a subsidiary of Adidas, happens to be the ‘single nation’ success for the global sportswear conglomerate. And that has happened as a result of smart game plans woven by two adroit leaders who, surprisingly, came from very different backgrounds. While Sajid came from an FMCG background, Subhinder Singh Prem, MD, Reebok India joined Reebok after a stint with pharmaceutical major Ranbaxy. However, lack of experience in the sports retailing space didn’t stop the duo from adding the requisite glitz to Reebok. Through innovations, careful go-to-market strategies and various strategic tie-ups (examples of which include the likes of Shiamak Bollywood Workout for Reebok, getting Manish Arora into their branding et al) within a time period of around a decade, these two have successfully helped Reebok occupy a unique space as a sporty yet fashionable brand in the minds of Indian consumers. Shares Sajid, “The challenge with us was to blend sports with fashion and we felt it was necessary to bring together sports and Bollywood. So, I came out with Bipasha-Dhoni campaign along with launch of radical women’s products.”

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM Best B School India
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM's Management Consulting Arm-Planman Consulting
IIPM Proves Its Mettle Once Again.....
IIPM Prof. Arindam Chaudhuri on Internet Hooliganism
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

SWIMMING WITH THE SHARKS

PRAKASH MORE, MD OF MAYUR PLYWOOD INDIA PVT LTD TALKS TO ASHUTOSH HARBOLA, EXPLAINING WHY IT’S IMPORTANT TO KEEP SWIMMING AGAINST THE HIGH TIDE OF TOUGH COMPETITION. USE MARKETING TACTICS, LEAD PEOPLE WELL, SATISFY YOUR CUSTOMERS AND WORK HARDER THAN EVER

Wishful thinking is what many would call it. Reality is what Prakash More, MD of Mayur Plywood India Pvt Ltd has proven it to be. His quest for entrepreneurial success began ten years back, when he ventured into the plywood market. Since then, competition has risen beyond imaginable levels and margins have become wafer-thin, but More proved his mettle with a track-burning growth. The mushrooming of uncountable small time and big players in the business didn’t stop him from expanding from one location to another across the country. Today, Mayur Ply has a presence across 14 cities, and has managed to comfortably carve a niche for itself. With three manufacturing plants (and the fourth one being inagurated soon) and with more than 300 people in the marketing department alone, competitors have come to realise and respect what More and Mayur are together capable of. Talk to him and you find he has yet another reason to smile. A no-brainer hint: your next home builder might just recommend using cement rolled out of one of More’s factories!

The plywood industry is saturated with a lot of small time, unorganised players. What makes your offerings unique?
We differentiate ourselves on the basis of superior quality. We cannot compete on the basis of price, as the many unorganised players in the industry conduct business at very low price points (therefore offering inferior quality products). Our motto is to provide the consumer the best quality products at fair price points.

It is said that Mayur Ply’s start-up days were not the easiest. Can you elaborate on the hurdles?
Rightly said. We faced many challenges during our initial days, starting from land acquisitions to receiving licenses and permits from the government to getting bank loans approvals. It was not an easy journey, but we managed to work our way out.

How critical is marketing for you, considering the cut-throat competition that exists today?
Competition is tough and as can be imagined well, days of monopoly are way behind us. Every single day is a new beginning. But having said thus, it is also important to continue working on what has made us what we are and on what can make us what we want to become. Therefore, marketing is an extremely important tool for getting our voice across to the target audience. Marketing is important to tell the market why we are a superior choice. At the same time, we have to pay attention to key elements involved in the production process, like the quality of raw materials purchased, et al.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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Can Electric cars be Big Business? ask M&M

Mahindra & Mahindra has acquired a 55.2% stake in Bangalore based Reva Electric Car Co. Ltd, which will now be known as Mahindra Reva Electric Vehicle Co. Ltd. M&M had earlier taken the initiative for ‘Sustainable-Mobility’, as it had been promoting green technologies by providing cars like the diesel hybrid Scorpio, hydrogen Alfa three-wheelers et al; the Reva acquisition evidently comes close on their heels. But globally, electric cars haven’t made the kind of business sense that their initial promise had showed – even Reva underwent these issues. Then what’s the logic in M&M taking Reva’s stake? M&M’s takeover move has been made due to a wider perspective – and that is backward integration. Reva’s electric technology will now be adapted into M&M vehicles. M&M has also been working on an electric version of its Maxximo mini truck. But the takeover springs up a few issues. In September 2009, Reva and GM signed a partnership to produce an electric version of the new Chevrolet Spark in India. Would this partnership undergo any changes post this takeover? If that happens, it would be ‘electrifying’, to say the least.

Vineet Singh

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM B-School Detail
IIPM makes business education truly global
IIPM’s Management Consulting Arm - Planman Consulting
Arindam Chaudhuri (IIPM Dean) – ‘Every human being is a diamond’
Arindam Chaudhuri – Everything is not in our hands
Planman Technologies – IT Solutions at your finger tips
Planman Consulting
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine

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