SUSTAINABLE MARKETING STRATEGIESsbm-industry-conference.nmims.edu/presentations/...•Bajaj Chetak....
Transcript of SUSTAINABLE MARKETING STRATEGIESsbm-industry-conference.nmims.edu/presentations/...•Bajaj Chetak....
-
SUSTAINABLE MARKETING STRATEGIES
NMIMS CONFERENCE ON NAVIGATING INDIA THROUGH TURBULENT TIMES
BY
AMBI M G PARAMESWARAN
FCB ULKA ADVERTISING
-
“THOSE WHO CANNOT REMEMBER THE PAST ARE
CONDEMNED TO REPEAT IT”- GEORGE SANTAYANA
-
LET US LOOK AT THE LAST TEN YEARS AND SEE WHAT WERE
POSSIBLY THE MACRO TRENDS IN MARKETING AND ADVERTISING
-
SEVERAL NEW SECTORS EMERGED IN
THE SECOND WAVE OF LIBERALIZATION
TELECOM / MOBILES
AUTOMOBILES
EDUCATION
ECOMMERCE
-
SEVERAL CONSUMER SEGMENTS EMERGED
WOMEN CONSUMERS
TEENAGERS WITH SPENDING POWER
YOUNG COUPLES WITH KIDS
-
MEDIA PENETRATION
CHANGEDPRINT SURVIVED
TV BECAME TRULY MASS
DIGITAL STARTED SHOWING SIGNS OF GROWTH
CINEMA EMERGED AFTER NEAR DEATH
RADIO / FM RADIO EMERGED
LOCAL ACTIVATION GAINED TRACTION
-
ADVERTISING SECTOR SPAWNED NEW AGENCY
MODELSFULL SERVICE AGENCIES SPLIT UP
MEDIA AGENCIES ROSE IN POWER
DIGITAL AGENCIES EMERGED
ACTIVATION AGENCIES WERE BORN
PR AGENCIES REINVENTED THEMSELVES
-
THAT WAS A QUICK SNAPSHOT OF THE LAST DECADE : 2005 TO 2015
WHAT WILL THE NEXT DECADE HOLD FOR THE MARKETING AND ADVERTISING SECTOR ?
-
WELCOME TO THE VUCA WORLD !
• Volatile – Uncertain – Complex – Ambigous
• Faster Pace of Change in the 2000s set to accelerate further !
-
WHICH NEW SECTORS WILL
EMERGE ? ECOMMERCE BOOM / BUST?
HEALTHCARE / HEALTH INSURANCE
FINANCIAL SERVICES
GOVERNMENT DEPARTMENTS
RETAIL / OMNI CHANNEL
EDUCATION
-
WHICH NEW CONSUMER
SEGMENTS WILL EMERGE ?
AFFLUENT OLD AGED
DINKS
SINGLES
LIVE IN COUPLES
-
WILL A CONSUMPTION CULTURE EMERGE?
RISE OF MASSTIGE BRANDS
SPEND BEFORE YOU SAVE
MALL THE NEW TEMPLES OF INDIA
-
MEDIA SPECTRUM CHANGES
BETTER MEASUREMENT METRICS
BARC
NEW IRS
DIGITAL MEDIA MEASUREMENT
OUTDOOR MEDIA MEASUREMENT
-
NEW FORMATS OF ADVERTISING
TV ADS IN VARYING SIZES
LONG FORMAT FILMS ON DIGITAL MEDIA
IN FILM ADVERTISING / PLACEMENT
SOCIAL MEDIA ENGAGEMENTS
STAGING OF EVENTS FOR BRANDS
-
MOBILE / SMARTPHONES/ 3G /
4GSMARTPHONES BECOME THE DEVICE OF CHOICE
LOCATION BASED MARKETING EMERGES
APP ECONOMY MATURES
-
URBAN – RURAL DIVIDE VANISHES
THE NEW SEC [NCCS] CREATES A COMMON PLATFORM
ATTITUDINAL CHANGE IN PROGRESS
AS AFFLUENT, LITERACY, MEDIA SPREADS
RURAL CONSUMER BECOMES INDISTINGUISHABLE FROM THE URBAN CONSUMER
-
INDIAN CONSUMER WILL CONTINUE TO BE
UNIQUELY INDIAN MULTIPLE LANGUAGES
MULTIPLE RELIGIONS
MULTIPLE SOCIO-CULTURAL ISSUES CONTINUE
-
HOW TO BUILD BRANDS THAT ARE SUSTAINABLE IN THE LONG RUN ?
-
80% OF ALL NEW LAUNCHES FAIL
• Old brands that were legends are no more
• Newer brands under constant threat
• Yet, some brands show remarkable resilience
-
DEMISE OF LEGENDARY BRANDS
• HMT
• Ambassador
• Philips TV
• Bajaj Chetak
-
SOME NEWER BRANDS TOO FACING THE HEAT
• Axe
• Nokia
• Sony
• Just Dial
-
BUT SOME BRANDS HAVE COME BACK STRONG
• Enfield
• Old Spice
• Parachute
• Jaguar
-
SO WHAT DID THEY DO TO STAY RELEVANT ? • Is there a magic formula ?
• Or is it just rigorous and continuous application of Five Forces Model of Michael Porter ?
• Or a combination of many well designed processes ?
-
GOING BEYOND JUST THE 4PS
-
#1 TRACKING CONSUMERS CONSTANTLY
• Beyond just traditional market research
• Diving deeper to unearth trends
• Hidden motivations
-
# 2 TRACKING COMPETITION
• Not just the traditional competition
• But also those coming from left field
• And new entrants
-
# 3 UNDERSTANDINGSOCIETAL MEGA-TRENDS
• Socio-Cultural trends often missed out
• Changing roles of women, youth, kids
• Increasing purchase power of the old
-
#4 ANTICIPATING TECHNOLOGICAL CHANGES
• Not just in hi-tech industries
• Even in mundane industries like lighting and FMCG
• Impact of Design Thinking !
-
#5 GETTING BEHIND MEDIA DYNAMICS
• Better measurement of media effectiveness
• Market Mix Modelling
• Digital Media / Social Media Monitoring
-
#6 “BAKING IN” SUSTAINABILITY
• How can products and services be made more ‘sustainable’
• Triple bottom line promise
• Production Process, Packaging, Use of Water, Power and Materials
• Use of sustainable manpower policies
-
# 7 BUILDING TEAM COMPETENCIES
• Greater mobility of marketing talent
• Building people growth agenda
• Building more robust organizational learning systems
• Exploring innovative hiring practices
-
SEVEN KEY STRATEGIES FOR MARKETING SUSTAINABILITY• Tracking Consumer Changes
• Tracking Competition Moves
• Tracking Technology
• Tracking Socio-cultural Changes
• Understanding Media Dynamics
• Baking In Sustainability into Products & Services
• Building Competencies
-
‘Religiosity in everydayIndian life takes on awhole new dimensionwhen seen through theeyes of this ad-man! Forinsightful explanationsand marketingpossibilities of a wholehost of phenomena, getthis book’
- Rama Bijapurkar, author of We Are Like That Only
Watch : TEDx For God’s Sake Talk
-
SUMMING UP …
• Marketing Strategies need to be sustainable in the face of changing consumer, competition, society; Marketing, Advertising and Branding in the coming decade needs to connect with consumers in many different unique ways and thereby increase their value
• In the words of Peter Drucker …
“If brands are the ultimate consumer glue, the task an organisation has to undertake is to build brand value and strengthen the glue.”
-
THANK YOU