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The big players of TV are a little worried and it’s all because of a small company named Aereo, an upstart which wants to change the way we view television. No wonder all the big firms from NBC, ABC, CBS to Fox have all sued it but its CEO Chet Kanojia (who incidentally is a native of Bhopal) is not worried at all for he is absolutely sure of what he is doing. Aereo TV, simply put is an ‘online TV service’. The modus operandi of the company is simple. Kanojia has made very small antennas. Each user is assigned one antenna which grabs the broadcast-TV signals from the air and with the help of a software those signals are aired to the user. Not just this, the signal can be aired to any device which the user opts for – his mobile, his PC, or even his TV set. What this translates for the user is: a) he does not need to pay the hefty cable fees, and b) he can now watch his favourite TV programme anywhere. He could be stuck in traffic and watch it on his mobile, or in office on his PC. Kanojia saw a loophole in the copyright act and made the most of it, which is why in spite of his company being sued twice he seems undeterred and has in fact won both times. Not just that, today he is sitting on a funding of $38 million with the help of which he would spread his network, which is currently available only in New York, to 20 more cities.

Kanojia saw a gap in the system and filled it up with his service. According to him, everything will soon migrate to the Internet including TV. The youth today is more loyal to a TV programme and not a TV channel. He wanted the freedom to watch it whenever and wherever he pleased. Add to that the fact that he did not want to pay for the channels he did not watch, but under the current system he had to pay for a package. Aereo, on the other hand, gave him just what he wanted.

Whether Aereo really makes it big and becomes the next best thing is debatable and only time will tell. However, it has an important lesson for all to learn and that is ‘never fear to challenge the big players or the best ideas’. You may turn out to be a game changer.

THE GAME CHANGERS

The way students learn is going to change in times to come. Some predict that with the advent of the Internet online classrooms, one-on-one interactive sessions may become the norm and shake up the classic lecture theatre model. Scientists from Stanford have already created a platform where universities can offer their courses and students have the freedom to choose different courses from different universities. 12 leading universities have already joined this portal, giving students greater access to the best courses across the globe.

Higher education in the future will see a dramatic change. One person who has been a pioneer in this is Gene Wade, the Founder of ‘UniversityNow’ which provides university courses online at a nominal fee. The students can pace out their courses at very nominal fees. Gene Wade’s vision is to make higher education ‘debt-free’ so that students do not carry the burden of heavy loans. He wants to provide high quality and affordable education to as many students as possible. He is a man a lot of people are sitting up and noticing as he had made university as cheap as your phone and cable bills and has already got 4,000 students! Not just universities but even banks are watching his moves carefully. He is going to change a few rules in education. Just the same way as Mark Shuttleworth changed the way people buy software. If Windows (Microsoft) charged a premium for its software then Shuttleworth decided to give it for free. He named it “Ubuntu”, an African word that means ‘humanity to others’, and dared to challenge the biggest player in the market. If Ubuntu can catch and retain the attention of the consumer then it has the potential to shake up this industry too.  Read More....

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Brad Pitt has bagged a new modeling contract, and this time, it’s not for any fancy gadget or any car brand or even a men’s clothing brand, but for a ladies’ perfume – Chanel Nº 5.

As expected, this news has got everyone talking about him and the perfume brand. It’s also got the cash registers ringing for him, and if all goes well, the cash registers would also be ringing for Chanel. The biggest boost in sales that a brand gets is when people start talking about it, when there is a certain buzz, an excitement around the brand. Ask any marketing expert and he would be ready to give his right arm to find the secret of creating the ‘right buzz’ around his brand. In fact, the job of advertisements is not necessarily to sell the product, but to get people to notice it; and in the most successful cases, to start talking about it. Chanel Nº 5 surely has learnt its lessons well. Decades ago, it had achieved notorious fame, when Marilyn Monroe – on being asked what she wears to bed – had said, “Why, Chanel Nº 5 of course!” That, and now this, i.e., getting Brad Pitt as their brand ambassador, has ensured that a lot of people would be talking about the fragrance for a very long time. The brand has managed to beat the clutter and has been able to stand out and get noticed from among the thousands of perfume brands available in the marketplace.

A few years ago, Lux soap decided to do something different to celebrate its 75 years. Known for its advertising strategy of taking Bollywood beauties to endorse its brand, the company decided to stick to the same formula; except that this time, the beauty in the bath tub was not the latest Bollywood heroine, but the latest heartthrob of all the females of the country – Shah Rukh Khan! The strategy worked. People noticed it. Some liked it and some laughed at it, but everybody was talking about it. That is the aim of advertising. As long as I have got you to notice me so that you talk about me, a large part of my work as an advertising man is done.

STICK OUT, BUT NOT LIKE A SORE THUMB!

Yes, to be noticed, you need to be different, but it needs to be done intelligently. There is a thin line of difference between the acceptable and the unacceptable and one needs to tread the path carefully. A little known airlines named Kulula Airlines (a South African low cost airline) has found a way to get noticed. Last month, as the South African president Jacob Zuma prepared to get married for the fourth time, the airlines too prepared a cheeky promotional ad campaign that claimed, “Fourth wife flies free”. Kulula is not the only airlines that has found a way to get noticed. Spirit Airlines has built a unique reputation for itself in coming out with well-timed ads that poke fun at the latest headlines. When news broke out that Arnold Schwarzenegger had fathered a love child 20 years ago because of which his marriage broke, the airlines was quick to come out with an ad stating, “Fares so low, you can take the whole family... including the halfbrother you just met”. When Tiger Woods crashed his car into a fire hydrant, the airlines was quick to come out with an ‘Eye of the Tiger’ sale on its website to promote its low priced fares.

Scandals always get you attention but not necessarily the kind you would like. However, Spirit has used scandals to increase its sales, and nobody is complaining!

Amul Butter has been using the same tactics in India for years now and almost always manages to get our attention with its topical ads. Everybody loves the wit and humor that they bring. The tongue-in-cheek ads are awaited by all. They stand out, and get noticed by all.

In this mad rat-race, standing out has probably become the most important quality for success. Just being good is not enough , you need to be different. However, it’s not easy being different. If there is one person in the advertising world who showed the world the power of being different, it was Oliviero Toscani. The ads he created for the clothing giant Benetton changed the way people looked at advertising and acknowledged the tremendous impact an ad was capable of creating. He showed a white and a black child hugging each other and gave the headline, “Angel and Devil”. It shocked the world but made Benetton the most talked about fashion label. However, Toscani crossed the line with his, “We on Death Row” series of ads, which featured close ups of 26 US prisoners who had been sentenced to death. There were widespread protests from the individuals, especially from the victims of the families whose loved ones had been killed by these men. Till Toscani used provocative themes like a priest kissing a nun, miners and bakers united by the black of the soot and the white of the flour, a dying AIDS victim with his family, a group of African refugees, et al, Benetton could justify the photographs and get away with it; and in the process, also get away with all the attention of the people, as this was the one clothing company whose ads were noticed the most. But the ‘death row’ series was where it went over the top; Toscani had to resign and Benetton had to apologize. So yes, one needs to stick out, but not like a sore thumb. Shock and scandal are the easiest tools to help one stand out.      Read More....

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

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There is a new guy in the world of ‘brand ambassadors’ in advertising. He is a quirky little character named Mel, who suffers from an identity crisis, for he does not know whether he is milk or granola. To put it in short, Kraft has launched a new product ‘MilkBites’, which is actually granola bites baked in milk. It’s supposed to be for people who don’t have time for breakfast. But this MilkBite needs to be stored in a refrigerator, so it’s a ‘pre-made, refrigerated cereal’. It’s a complicated product, which required a different positioning; for here is a cereal, which has to be picked up from a refrigerator in a departmental store! So Kraft decided to use this strange positioning to its advantage and came up with the character Mel, who battles with low self-esteem and deals with identity issues (something we too battle with often!). The character Mel is turning out to be an interesting fellow as you get to know him better through various advertisements; where he tells the story of his confused life, and in the process, also tells us how he is to be consumed.

MilkBites is going to be Kraft’s biggest launch this year and it’s using an underdog to win market share. No great stars, no super achievers. We have a little confused fellow as the brand mascot of Kraft. He is a misfit who has a sad story to tell.

Why would Kraft choose such a character? Think about it. On a TV channel full of happy mascots, here is a sad character, a misfit. As a result, Mel is instantly noticed. More importantly, he is instantly sympathized with, for we all love the underdogs. This is human psychology and it remains the same, whichever part of the world you go to. Everybody sides with the underdogs. Kraft probably is placing its bet on a winning strategy. Look around you and you will find that quite surprisingly, the underdog always wins!

THE CHARM OF A FAIRY TALE

Go back to your childhood and think of all the stories you loved and chances are that most of them were around a character who no one expected to win, but he/she fought against all odds and pulled off the most unlikely of victories. Cinderella became a princess. Rapunzel was united with her parents and even found her Prince Charming after all the hardships. These are very old tales. Yet, till date, they do not fail to inspire, not just us but even Hollywood and Bollywood. Cinema is cinema because of the underdog. Be it James Braddock from the movie The Cinderella Man, an impoverished ex-prize fighter who went on to win against all odds and ultimately even take on the heavyweight champion of the world; or be it Vijay Dinanath Chauhan of Agneepath, who, in spite of all difficulties, managed to avenge the killing of his father – our hearts always reach out for the weak. Julia Robertsmade us fall in love with her as the underdog in the movie Pretty Woman, where life gave her a second chance to make things better. Be it Seabiscuit, Karate Kid, 3 Idiots, Taare Zameen Par, Guru or Koi Mil Gaya; we love to watch the small guy win. This is a story line that always works. This is a strategy that never ever fails.

Take sports, as an example. Today, there is only one player in the USA who is making waves and is being talked about today. He was a star basketball player at Harvard, but after graduation (in 2010), no one showed interest in him. He spent most of the season at the end of the bench and his career seemed to be in the doldrums. But Jeremy Shu-How Lin never let go of his dreams and stuck on.

Then something magical happened this month (February). His team New York Knicks was losing and the coach decided to bring Lin in the game against Jersey Nets. This was the ‘golden ticket’ he was waiting for and he dazzled everybody by scoring 25 points and leading his team to victory. He repeated the same magic in the next match, and the next. The man from nowhere has built a frenzy around himself. He has created a new phenomena called ‘Linsanity’. He is a hero who appeared from nowhere. His story is inspiring kids to believe in their dreams, in who they are and to keep going; even when the going is tough. It’s similar to the storyof the movie ‘Rocky’, where Sylvester Stallone made it, in spite of all the odds against him.      Read More....

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

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Sunday, February 5, was a big day for advertisers in America. The Super Bowl, the most watched show on TV, was aired that day. For the third year in a row, Super Bowl has set the record as the most watched television show in US history. Not just the game, the Super Bowl has become a showcase of some of the most remarkable advertisements, and people wait to see the commercials aired during this time as much as the game. After all, some of the most iconic ads have made their debut here. This year also witnessed some of the best ads and taught us a thing or two about what good ads are made of.

An estimated 111.3 million people watched the Super Bowl this year. The only other program that beat this record was Madonna’s show during halftime of the game. It was viewed by 114 million people . There seems to be something about ‘halftime’, for the most acclaimed commercial during the Super Bowl was Chrysler’s ‘It’s Halftime in America’. Aired during the game’s halftime, the commercial started by equating the game’s halftime with America’s halftime. Just as during halftimes, teams are discussing strategies to win the game; America also needs to find a way out of this mess that the country is in right now. The one city that is showing the way is Detroit. It lost everything with nearly all car companies going bust, but it did not give up and today, it is slowly but surely making a comeback. The Americans should do the same. After all, as the advertisement says, “This country cannot be knocked out with one punch. We get right back up again and when we do, the world is going to hear the roar of our engines”. The commercial was so inspiring that in many places, people gave it a standing ovation.
The message was right, the time it was aired (during halftime) was right and the star of the commercial Clint Eastwood was just right too. He had starred in the much acclaimed film ‘Gran Torino’, which was set in Detroit City, making him the right choice for the commercial. Overall, it worked out to be the perfect package, which is why, out of the numerous ads aired during the game on Sunday, this one stood out. No blondes, no blokes, no stunning locales; just a plain simple message that touched people was what was responsible for its success. That is the power of a commercial. It makes a place for itself in your mind whether you want it or not. It’s much like ‘Jerry’, the cute little naughty mouse in the Tom & Jerry show, which we loved watching as children. If advertisements are ‘Jerrys’ then we are the ‘Toms’. Tom, like us, believes that Jerry cannot overpower him, just the way we as viewers believe that advertisements cannot influence us. But just as Jerry always wins, good ads always manage to make a place inside our subconscious mind and influence our buying behavior. How many times have you caught yourself singing the tunes ‘Har ek friend zaroori hota hai’ or ‘Hum mein hain Hero’? Good ads have the power to remain in our minds and our thoughts, and even change them.

GOOD ADS MAKE US LAUGH

If you can make someone laugh, it is the quickest way to bring down barriers and make a friend. A lot of advertisers use this trick. It is very effective, but it is also very risky; for if humor goes wrong, it can seriously offend people. This particular commercial managed to offend its competitor. Aired during the Super Bowl on Sunday, GM advertised for its Chevrolet Silverado. The commercial showed how the world would end in 2012 (according to the Mayan calendar) and only those who drove the Chevrolet Silverado had chances of survival, not the ones who drove a Ford. The advertisement showed how a man and his dog managed to survive the catastrophe because they were safe inside their Chevrolet. As he drives around, he meets his friends who also survived because they were inside their Chevrolets. However, one friend is missing, so he asks, “Where is Dave?” His friend answers, “Dave could not make it; he drove a Ford.” As expected, Ford did not take it lightly and its legal cell filed a complaint demanding that GM apologize and withdraw its ad from everywhere. GM, in return, said that the ads were over the top and in a fun filled manner, they tried to bring out the fact that their pick-up truck was dependable even in the most dangerous of circumstances. They believed in their claim and were ready to wait till the world ended to prove their point… and then apologize if needed. But till then, all people who were worried about the Mayan calendar prophecy coming true had better buy the Chevrolet Silverado!! Not only did Chevrolet get noticed and talked about, but Ford was left rubbing its hands for it had not aired any commercial during the Super Bowl and therefore could not make its presence felt.

The Super Bowl actually turned into a cheeky war zone where brands took a dig at their competitors. After all, not everyday do you get more than 100 million people to watch you. So Samsung continued to take a dig at Apple. Its positioning strategy is to be remembered as the ‘anti-Apple phone’. Apple, on the other hand, is known for its most iconic Super Bowl ads (remember the 1984 ad), but was conspicuous by its absence and Samsung had a field day advertising its phone as the ‘next big thing’. The oldest rivals Coke and Pepsi had a face-off too. While Pepsi played it safe with an interesting commercial featuring Elton John, Coke decided to poke Pepsi; albeit in a very pleasant, interesting and indirect manner.      Read More....

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

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Another year, another chance to accomplish all that we could not in the last year, another hope, another new beginning! Yes, every new year brings about a sense of freshness with it and lots of hope and high spirits. It’s the time to think afresh, plan new things, change your outlook and approach your problems with a more positive mindset.

Every year promises something new and every year witnesses a new change. This year too, we as marketers should be ready to face new challenges and plan new strategies. The rules of doing business are going to change and if we want to stay ahead, we better be prepared.

THE VIRTUAL WORLD WILL OVERTAKE THE REAL WORLD

The traditional way of marketing has changed. Marketers will focus more on the new media and the traditional will take a back seat. This change is for good and will intensify even more as marketers discover more and more innovative ways to reach out to the consumer online.

Last year (in June, 2011) the marketing genius Nike premiered its new ad campaign titled “The Chosen” not on TV, but on Facebook. The campaign was used to launch a video contest, which asked people to submit their videos of extreme action sports (like snowboarding, surfing, skateboarding et al) and create the maximum buzz around their entries. The finalists were then judged by a group of professionals within Nike and the winner was selected; the winner was titled the ‘chosen one’, for he got the chance to live like a Nike Pro athlete for a year. Apart from the very interesting and engaging campaign, the point to be noted is that Nike decided to launch its campaign on Facebook nearly three days before it featured the same on TV during the NBA finals.

Not just shoe brands, even cars are using the social platform to debut their goods. Last year, Ford unveiled its new model – the Ford Explorer – not in an auto show, something that it has been doing consistently for the past 50 years, but on Facebook. It even randomly selected a ‘fan’ to give away a free Explorer! If you consider the fact that Ford has been doing relatively well as compared to its competitors, it seems like the choice of spending twice as much as its competitors on digital media is not a bad choice at all.

This month (January 14), Ikea is hosting a “Bring Your Own Friends” (BYOF) event in its stores in USA. Every time you ‘Like’ the Ikea page, the company makes a donation to the non-profit organization ‘Save the Children’. That’s not all; once you like the page, you get to see the various freebies and discounts that the retailer is offering in its various stores on January 14. You are then asked to invite your friends to the event happening in the stores on the day. For every invite you send, you become eligible for various contests and have a chance to win a free ‘shopping spree’. To add to this, the company pledges to donate $1 to ‘Save the Children’, whether your friend/s turn up for the event or not. Yes, earlier too, Facebook has been used for social causes by companies, but this one goes a step further. Ikea is hoping to increase ‘in store foot traffic’ using Facebook. This only goes on to prove that the coming year will see marketers using the ‘social platform’ more aggressively. If your brand has a page on Facebook, it’s time you made sure that it becomes more interactive and engaging, for that’s going to be the key to success in the future. Or else, God help you… well, literally. The most engaging and interactive pages on Facebook have been those dedicated to religion, with ‘Jesus Daily’ leading the list. At more than 4 million interactions weekly, the page leaves all other pages way behind. This just proves that if you have content that is engaging, you have takers too (after all, there are 800 million people on Facebook and each could be your potential consumer). God could help you get some good ideas for this one for sure!

One of the key factors to keep in mind would be ‘online engagement’ between customers and the brand. Apart from the number of followers, it will also be important to keep your followers engaged this time. When your consumers are being bombarded with so many messages, it’s critical to focus on loyalty and make your brand’s ‘voice’ the loudest and the most unique. One way of doing it online is to keep interacting with them. The cosmetic company ‘Benefit’ did just that. With no marketing on TV or in the print media, Benefit used only the ‘virtual platform’ for all its marketing endeavors. Using fun and quirky online content and giving away freebies and having beauty sessions online, the company built an awareness around its products and kept its fans engaged with the brand. It asked its fans to review its products on its Facebook page and even rewarded its most active reviewers. These ‘reviewers’, in turn, told their other Facebook friends about this brand; and soon, Benefit became the most talked about brand in the virtual space. It’s akin to generating ‘word of mouth’; just that this time, it’s happening online, for that is where most of your consumers will be in the future. All the rules of marketing will remain the same; however, the one who is able to adapt these rules to the ‘virtual world’ will be able to stay ahead of the competition.      Read More....

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

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IIPM: Indian Institute of Planning and Management

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SO FAR, MARKETERS HAVE LARGELY PAID ONLY LIP SERVICE TO THE CULTURAL DIVERSITY WITHIN INDIA. IT’S TIME THEY DO MUCH MORE TO LEVERAGE IT TO THEIR ADVANTAGE

Companies are worried about the coveted FDI regulations for this market. Economists are worried about its massive poverty indicators and growing inequality. Politicians are worried about their next elections as usual, but perhaps much more today about simply getting caught! Business in general is worried about favourable government policies and reforms and also about the appalling Indian version of the term “infrastructure”. And on top of all these, the common man is worried about (including infrastructure, of course) rising prices on all fronts, corrupt and inefficient systems, uncertain markets, lack of a social security net… the list is quite endless.

Welcome to “Incredible India”, the term itself a perfect fit for this country, and not just because the words are catchy and rhyme well. It’s also because of their meaning. Not great, or awesome; but ‘incredible’, in simple terms, hard to believe. And that’s how intellectuals at different points of time have described the ascent of the Indian economy.

Nevertheless, marketers love stories, and the Indian story attracts them like few do. Goldman Sachs’ BRIC report laid the groundwork followed by many others. Another exhaustive report by McKinsey in 2007 gave some important indications of where India could potentially be. It projected, with an assumed CAGR of 7.3%, that India would triple its income levels by 2025. That will bring around 291 million people out of poverty and the middle class will rise by ten times over the period to around 500 million. What’s more, 23 million people would count among the wealthy, which would be more than Australia’s current population (around 22.7 million, Australian Bureau of Statistics, October 17). And the most exciting part, of course, is that the country has a combined young & working age population (14-60 years of age) that comprises nearly 54% of the total (UN, 2009 figures). Another 31.3% are in the wings to enter this group (age 0-14 years). India’s working age population is expected to edge out China by 2028.

This is a brief of the larger India story that marketers across the globe have grown to believe; and all it seems to say is that – unless you want to be a bit player on the global stage a few decades from now; it’s imperative that you invest in India. Of course, it’s a great story for shareholders of a number of MNCs as well, who have been terribly short of good news lately. However, before you hop on to the India bandwagon, you have to understand the fact that although the macro picture makes a valid case, it’s very easy to get lost in a maze if you are unable to grasp the intricacies unique to this market.

One of the most critical and overlooked aspects of this market is culture. Generally, marketers and analysts have attempted to either club the entire India as one (using economic segmentation) and look for a unifying theme, or considered it just too diverse to really merit the time and energy in segmenting it in this manner. Either approach is dangerous. In fact, my ongoing research provides compelling logic that supports the existence of India as 4 nations – North, South, East & West – and this has profound implications for today’s marketers. These divisions have a strong historical context and continue to be extremely relevant even today.

CONSUMER PARADIGMS

Art is a very apt reflection of life. And if you look at our movies, there are a number of stereotypes that have been used to define Indians in different zones. A Punjabi is often pictured as brash, impulsive, imposing and ready to pick up a brawl, or even join an ongoing one for company sake! Conversely, a person from Tamil Nadu is pictured as relatively submissive and also deeply rigid about his style of living. Mumbai residents are typically shown as immensely practical and down to earth. And a person from the city of Kolkata will be portrayed as too passionate about his state, ready to revolt at the slightest excuse and be ready for an intellectual solution to every problem, if not a practical one.

While extreme, these stereotypes are not without basis! Some research into consumer buying habits also brings out some vital differences in the four zones. A small perception-based survey across 4 metros revealed some interesting characteristics. West Bengal, for instance, has a strong history of revolution, and they harbor a fierce sense of pride in their culture. They are highly intellectual and able to achieve their goals (financial or otherwise) through proper planning. Purchases made by them are skewed towards long term assets like real estate. New Delhi has been an epicenter of power and also attracted a mix of cultures from across India, with a larger influence from the neighbouring states of Punjab and Haryana. There is a great obsession with earning money, and perhaps an even greater one with flaunting it. Down south in Chennai, one sees a conservative society that has a deep sense of traditionalism as well as a bit of a colonial hangover. Higher education rates and rise of industries like IT here have attracted wealth to a great degree from abroad, and people here do invest in certain luxuries as well. But customs and traditions are strong influencers, visible with the amount of jewellery they buy; an integral part of traditional attire. When you look west in a city like Mumbai, there is a very strong influence of the British Raj as well as of the traders that frequented the city’s shores. The city works strongly on the ‘time is money’ mentality and is tremendously practical and pragmatic; a vivid barometer of which are the local trains, used by people of all economic classes.      Read More....

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

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM ranked No 1 B-School in India
domain-b.com : IIPM ranked ahead of IIMs
IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

IIPM in sync with the best of the business world.......
Arindam Chaudhuri on Internet.....
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

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We are a nation that lives and breathes cricket, yet many feel that they are now getting an overdose of it. The 15-20 year olds today do not identify so much with cricket. They want something different, something fast and something trendy. Formula One seems to be the answer.

CARS VS CRICKET FOR SPONSORS

Kingfisher went ballistic with the promotions of its beer at the Indian Grand Prix held in Noida last month. Airtel was the title sponsor of the event. It ended its sponsorship of the Champions League Twenty-20 cricket even before the three-year deal ended. For a nation that is obsessed with cricket and for a sport that dominates advertising in India, when a big sponsor like Airtel backs out, is it an indication that things are changing? Is cricket facing boredom? Is there oversaturation of cricket? Perhaps. Think about it, Neo Sports, the official broadcaster of the India-West Indies series gave a 40-60% discount for a 10 second ad spot; add to that the falling viewership rating of the sport and you have your answer. Today, advertisers are looking for big sports properties other than cricket. Agreed, cricket was and will remain a religion in India, but the youth wants something more, and F1 is the sport that’s fashionable to follow and appeals to the young and restless. In spite of initial scepticism, the inaugural Formula One race was a success. To the surprise of many, the 3-day event drew a crowd of 95,000 spectators on race day.

FORMULA FOR SUCCESS

When it comes to sports, India has never really left a lasting impression. Except for cricket, there is hardly any other sport where it stands out. When it comes to international sporting events, then most often we have been left red-faced. Take the Commonwealth Games for instance, which generated a lot of bad publicity for India, and showed us in shoddy light. In contrast, the inaugural F1 race was loved by all. Finally, an international event was executed flawlessly by India. With only private players and with no government support, the event did well.

It makes complete business sense to be a part of the Formula One event. It offers global reach to both sponsors and fans alike. F1 is a far more lucrative sport than cricket. It has a reach that is much wider than cricket. The Indian Grand Prix was telecasted to 550 million viewers in 200 countries. It provides a global platform to brands, which events like T20 cricket fail to do. Consider this, there is zero audience for cricket in major economies like France, Germany, Italy, Brazil and Russia. At the end of the day, it is imperative for any sport to reach out to more people and F1 has that mass appeal.

Today, growth in businesses is going to come from emerging market like Brazil, China etc, and cricket does not excite many of them. If a global sponsor has to reach them, he needs a sport like F1 with a more global appeal. Indian companies are going global too. Many of our home-grown brands are growing fast and becoming big players in the new emerging markets.      Read More....

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

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM ranked No 1 B-School in India
domain-b.com : IIPM ranked ahead of IIMs
IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

IIPM in sync with the best of the business world.......
Arindam Chaudhuri on Internet.....
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

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Last month, a beautiful film named Dolphin Tale hit the theatres. Based on a true story, it’s a ‘tale’ about a dolphin without a ‘tail’. It’s the story about a young boy’s efforts to convince scientists to create a prosthetic tail for this dolphin named Winter , whose tail had got amputated. In doing so, he not just changes the life of the dolphin but also of the people around him. It’s a story of grit and determination. It made the audiences cry and the producers fly high – in North America, the movie grossed $14 million from Friday to Sunday. It opened at #3 but rose to the #1 spot in the second week, something not very common.

A GOOD STORY HAS THE POWER TO CHANGE ALL BOX OFFICE RULES!

Not just is Warner Bros very happy with the performance of the film, but so is ‘Clearwater Marine Aquarium’. This is the water-park in Florida where the movie was filmed, and Clearwater cannot thank its stars enough. Even before the movie opened, visitors to the water park increased tremendously. The impact of the movie has been so great that the aquarium is now spending $12 million in expansion including a new “Dolphin Tale” exhibit. The aquarium now also has a new website and calls itself “The home of Winter”.

The dolphin’s tale of survival has worked wonders for a lot of people and a lot of brands too, apart from the Clearwater aquarium.

It shows the little boy doing all his searches, not on Google but on Gigablast which calls itself the ‘leading clean-energy search engine’ as it uses wind energy to provide 90% of the power required to run its servers. The movie also features Dell laptops and a whole lot of other brands. Both marketers and viewers are more than familiar with this form of marketing. The trick is to do it intelligently so that it creates an impact and does not look tacky. There is hardly any big film released today without brands being an integral part of them. This medium is after all the most powerful of all and can do wonders for a brand.

THE POWER OF FILMS

Some products that have benefitted the most out of in-film branding have not just been ‘products’ but rather countries. Just as Clearwater Aquarium has benefitted from the movie Dolphin Tale, so have a whole lot of other places. After Lost in Translation was released, everyone wanted to go to Tokyo. Almost all of Yash Chopra’s films have worked as powerful advertisements for Switzerland. Hrithik’s debut film Kaho Na Pyar Hai was responsible for doubling the Indian tourism to New Zealand. The latest to hit the Indian box office, Zindagi Na Milege Dobara, will do wonders for Spain.

If there is one city that has been featured innumerable times in films , then it is New York. Every year, hundreds of films feature New York and the city understands the impact this has on its tourism. So the Mayor’s Office in New York offers free filming permits, police assistance and even gives you location advice if you want to shoot a film there. After all, product placement of the city will help both the parties – for if a film is able to capture the essence of a city on camera, then it becomes the most powerful promotional tool for the city.      Read More....

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

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM ranked No 1 B-School in India
domain-b.com : IIPM ranked ahead of IIMs
IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

IIPM in sync with the best of the business world.......
Arindam Chaudhuri on Internet.....
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

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Early this month, Nike did something a lot of movie fans and shoe collectors were waiting for. It created the exact replica of the shoes worn by Michael J. Fox in the popular 1989 flick ‘Back to the Future’. He wore the shoes when he travelled to 2015 in the movie. 1500 shoes were put on e-bay for auction – they were sold out faster than one could imagine; the campaign has been evidently massively successful. This sneaker is getting Nike extra attention not just because of the ‘limited edition’ of the shoes but also because all the proceeds will be donated to the Michael J. Fox Foundation for Parkinson’s disease research. To top it all, Sergey Brin has pledged to match the donations made to the foundation up to the next year (to a maximum of $50 million). The shoes have been auctioned for anywhere between $3,500 to $10,000 with the British rapper Tinie Tempah even paying $37,500 for his pair! The purchase of the year did help Tinie jump into the spotlight, but this has kept Nike in the news too and for some good reasons.

Brands need to be in the news for the right things. When a brand associates itself with the right cause, it gets noticed and spoken about, and that’s where it has a chance to overtake its competitors. Hugo Boss released a campaign this month for its perfume Boss Orange. However it was not the regular ‘glamour shoot’ that most perfume advertisements are about; instead, it talked of development of schools in Madagascar. Boss Orange has donated $300,000 to the ‘Schools of Africa’ initiative and through this campaign, it hopes to help at least 60,000 pre-school children in Africa. It used celebrities Sienna Miller and Orlando Bloom to propagate the idea that ‘every child has the right to an education’ – and Boss, along with UNICEF, would help do this “Today. To Help. Together”. When Bloom was chosen as the perfume’s brand ambassador in 2010, he said he identified with Boss Orange immediately because “it had a laid back spontaneous quality,” much like he had. So while Boss and Orlando were working on giving the brand a distinct identity, associating it with a cause made it stand out.

When a brand associates itself with a cause, it changes the total image and reputation of the company. Research has proved that firms that are socially responsible are considered by consumers to have a good reputation. In a study done by British Telecom in 2002, as much as 25% of a company’s reputation was dependant on its commitment to society.

She was called the ‘Mother Teresa’ of the business world, because she believed in not just doing business, but doing it with some heart too. Anita Roddick never forgot the African women who shared their skin care secrets with her, which she used to make her creams and lotions for her cosmetics brand ‘Body Shop’. The key to Body Shop’s success was not just its interesting products but the numerous social causes the brand stood for. It played an active role in Save the Whales campaign in 1985; again in 1989, it stood behind the cause of saving the Brazilian forests; and again in 1990, it energetically supported the petition against testing of animals. These were some of the numerous causes that Anita Roddick and Body Shop fought for and her customers (the young women) just loved her for it. This dynamic woman breathed her last four years ago in September 2007, but she showed the world how business does not just mean a crazy obsession with profits, but also a crazy obsession with the society. Body Shop gave crazily and the more it gave, the bigger it grew – and Anita Roddick soon became the fourth richest woman in Britain in 1990. CSR is a powerful tool and cannot be ignored. With the youth of today having a greater and louder voice in purchase decisions, companies that look after the society find increased customer loyalty as they increase their commitment towards the society. Customer loyalty is the one factor all brands would give their right arm for, and socially responsible organizations get it, since the customers respect them, and the word-of-mouth around these companies is so good that customers perceive their products to be more reliable and of better quality. As a result, they are ready to pay a higher price for these products and feel good about it.      Read More....

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

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM ranked No 1 B-School in India
domain-b.com : IIPM ranked ahead of IIMs
IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

IIPM in sync with the best of the business world.......
Arindam Chaudhuri on Internet.....
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

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Early this month, the UK Daily Telegraph ran a strange story that went like this: “Domino’s Pizza has announced plans to conquer the final frontier by opening the first pizza restaurant on the moon”. As expected, the story became the most read story in the newspaper and got people talking. Some even smiled and wondered if its “free if not delivered in 30 minutes” rule would be applicable for this branch! Domino’s is known for its wacky marketing and this one got everybody talking. You need to get noticed if you want to stay on top of the consumer’s mind. There is too much of clutter and only the ones who dare to be different stand out and lead.

A few years back (1993), D.C. Comics released a comic book The Death of Superman. A character that had been a part of our lives for decades (Superman was born in 1938) would suddenly be no more – this created a ripple and the media covered it almost as seriously as if a head of state had passed away. As expected, the comic book sold out on the first day itself. Numerous other issues were released after this and eventually the company came out with another iconic issue, which was titled Return of the Superman. Just when D.C. Comics found the interest of the customers falling, it decided to get the excitement back into the brand by announcing the death of its most popular character! It worked.

BEAT BOREDOM TO BEAT COMPETITORS

You need to keep the excitement levels up to retain interest. Be it business or be it personal relationships; if things get stagnant, the relationship starts to falter. You may have a popular product, you may have the best quality product too, but if it gets boring, it is doomed.

Beating boredom was a challenge that these brands had to overcome. One was Ariel. A detergent is not a very interesting product category but Ariel did some interesting stuff, which got people talking about washing. At the Stockholm railway station, it set up a glass box which had clothes revolving on a stand. In front was a robot which squirted out chocolate, ketchup, jam etc. The game was, if you managed to aim well and stain a cloth, it would be washed then and there with Ariel and given to you for free (of course, stain free). The best part was that you could play this game on Facebook too! Washing suddenly became fun and got people talking about it.

So when the movie Green Lantern was about to be launched in Brazil last month, the moviemakers thought of an interesting idea. They put green LED lights on bicycle tyres and when the wheels started spinning, the lights made the logo of Green Lantern on the wheel, along with the release date of the movie. It caught the attention of the young viewers who found it cool, apart from making the cycles more visible to car drivers… which was an added bonus!

Apart from giving a good product, give people something to talk about, give them a good story and it will sell your product more. Marketing is not a one-time activity; rather, it’s a continuous process and many a time, doing something out of the ordinary just works like magic. Amazon.com has launched a new feature on Kindle (its e-reader). While reading a book, you can also send tweets to the author of the book and ask him questions. His answers will come in your e-mail. It just makes reading a bit more interactive and fun!

After all, you need to break the monotony and do different and interesting things to remain relevant. Throughout history, great entrepreneurs have not just worked on making a good product, but also on finding interesting and engaging ways to inform the public about them. Many of these stunts today have become historical events. When newspaper publisher Henri Desgrange started a bicycle race to promote his newspaper, he never in his wildest imagination thought that it would be the world’s most awaited bicycle race. Tour de France, started more than 100 years ago, today promotes a whole lot of brands and is one of the most loved events. Similarly, when Atlantic City wanted to attract tourists to its city, it thought of a novel idea of starting the Miss America Pageant in 1921. The event has snowballed into a big show watched by millions even today. Pillsbury launched its Pillsbury Bake-Off as a one time event never knowing that the idea would be such a hit that this would become its annual event. Even today, the event has not lost its popularity.

Many of these ideas are simple and not really expensive, but they work – much like some low-budget movies that work in spite of being made in a simple manner. This one gave Hollywood its famous star apart from five sequels. The movie in question is Rocky, inspired by Chuck Wepner’s fight against Ali, made on a small budget of $1000,000 the movie broke all expectations and records as it became a super hit and grossed $225,000,000!

SOUNDS CRAZY? IT WORKS!

In the 1990s, National Mutual (now a part of AXA Group) became very successful selling life insurance policies via mail. The company was doing very well and then one crazy young guy thought of offering a torch or a travel clock as an incentive. Everyone thought it was ridiculous; after all, people were taking a very important investment decision and these petty incentives would not change anything much. Nevertheless, the company went ahead with it. This crazy idea brought about a 37 percent increase in response rates!

If women can have a ‘walk-in’ closet in their homes, then why can’t boys have a ‘walk-in fridge’? Heineken Beer worked on this crazy idea and in 2009 released an online video where, in one part of the house, the girls jumped and shrieked at the sight of the hostess’ new walk-in closet, the guys in the other room freaked out at the sight of the ‘walk-in fridge’ lined with chilled Heineken! The crazy idea gave people something fresh and different to talk about and made it stand out vis-à-vis its competitors.

To promote dental hygiene, Colgate decided to make the sticks inside an ice cream bar in the shape of a tooth brush. As the child finished the ice cream, he saw the toothbrush shaped stick with a reminder, “Don’t forget”! Mothers loved it and the company got a huge PR boost.

They may sound crazy but some wacky ideas just hit the imagination of the customers – and they love it, making your brand the most talked about and remembered.

In today’s world, when it’s nearly impossible to decide rationally which product to buy solely on the basis of its attributes, it becomes absolutely necessary to ensure that your product is marketed differently and retains its freshness, is talked about and remembered.   
Read More....

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

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM ranked No 1 B-School in India
domain-b.com : IIPM ranked ahead of IIMs
IIPM: Management Education India
Prof. Rajita Chaudhuri's Website

IIPM in sync with the best of the business world.......
Arindam Chaudhuri on Internet.....
Arindam Chaudhuri: We need Hazare's leadership
Professor Arindam Chaudhuri - A Man For The Society....
IIPM: Indian Institute of Planning and Management

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