Not so long ago, Nokia was synonym with Mobile & vice versa. What went drastically wrong that once the poster boy of mobile revolution fell like a pack of cards from the pinnacle. In 2002, when i bought my 1st mobile the but obvious choice was Nokia and there was no second thought. Someone right said that "Only thing constant in life is change". Either we change ourselves or change will change us. Same applies to corporate houses, best example to quote is Bajaj. Once the market leader in Scooters segment is now world's 3rd largest manufacturer of Motor Cycles & completely phased out ... Read More
Bottom of The Pyramid or Bottom Line
According to wikipedia, Bottom of the Pyramid is the largest, but poorest socio-economic group. According to Marketer, Bottom of the Pyramid is the only key to success. The enabler for this thought process is Economic Recession. Bottom of the Pyramid is one of most favorite topic for Corporates, Business Newspapers or Business Magazines. In my opinion, except FMCG companies no other industry has cracked this domain. FMCG companies are riding on the depth of their distribution channel to succeed. Typically, the Marketer job is to show top line growth (Gross Revenue) and they are not ... Read More
Digital Marketing – The Future of Marketing
World is very fast converting into a virtual space. Recently I read an article that few MNC’s have increased their marketing spends on Digital Marketing & Toyota is one of them. One thing i love about MNC’s is that they pick future trends very fast and act on same before Indian companies realize what happened. Now you must be wondering why Digital Marketing will succeed in India…Let’s understand We have seen transformation from License Raj to Highly competitive markets of today. Indian economy collapsed in 1991 predominantly due to License Raj then we realized that opening up the markets ... Read More
7 Reasons Why Loyalty / Reward Programs Failed in India
What is the common link between all major stores/chains like Mega Mart, Pantaloons, Shoppers Stop, Lifestyle, Reliance Retail, Hyper City etc....Answer is Loyalty / Reward Programs. Whenever u r making a payment for ur purchase on these store, the person on counter ask..Sir, do you have membership card? But Loyalty / Reward Programs have failed in India. When i was young, some years back..I was quite excited about collecting all these membership cards. I used to thought that retail store value me as a customer but now the weight of all these cards is much more than weight of my wallet...Last ... Read More
5 Strategies of FMCG Companies to Cheat Customer
Indian FMCG companies love to Cheat customers (by the way they call this a strategy) and Indian Customers are happy being Cheated knowingly or unknowingly. The biggest problem in India is that we don't have strong Consumer Protection Act against FMCG sector like Western Countries. Lets find out the strategies of FMCG companies to fool the customer. 1. Packing Remains Same but Qty is Reduced: Have u ever wondered why the prices of some OTC FMCG goods are unchanged for years...I still remember, the standard packing of well known small chips packet is 10 Rs from quite long...With 8% average food ... Read More
The Future of E-Commerce in India
E-Commerce is not new to Urban India but what is the Future of E-Commerce in India ...Recently, we saw lot of activities in this space like Flipkart bought Letsbuy.com, Amazon.com announced its indirect entry in India through Junglee.com & of-course PE / VC investments in various E-Commerce ventures like Snapdeal.com Sometimes i feel, Are we going overboard in this space or Is india ready for E-Commerce revolution....Currently, India does not have any Govt Policy for E-Commerce Business and its running on Hit and Trial Method...The legal & regulatory environment is also not conducive ... Read More