*People don't want to be sold on the reasons your brand is better or the best. They don’t want something different. They want something that creates a difference. *
Keeping this in mind, a panel discussion was organized on “Reimagining Marketing Strategies : Gamechangers or Gainmakers” by Marquest : The Marketing Club of JIMS, Rohini, on March 27, 2021. The objective of this panel discussion was to provide insights into the dynamic marketing trends which strongly influence the marketing strategies of many companies in current scenario.
The panelists for the same were-
(Moderator)
?Mr. Ishan Dhara : Lead, Customer Centricity; Birla White
(Speakers)
?Mr. Manik Mahajan : Marketing Director, Michelin
?Mr. Vishal Sharma : DGM Retail Operations - North, Lifestyle International Pvt. Ltd.
?Ms. Palak Magon : Regional Head (DVP) - Innovation Studio and Custom Content, Zee Entertainment Enterprises Ltd.
Welcome note was delivered by the student coordinator of Marquest. Upon which, Mr, Ishan Dhara took the formal charge and introduced all the panelists. He then, went on to conduct a short online poll for setting the tone of the event.
The discussion started with Mr. Vishal, laying out the impact of Covid-19 in the retail sector. He mentioned various creative and unconventional ideas which were transformed into products like Fashion on wheels, Social Distancing Shoes, Haldi Doodh, Chawan ice-cream, etc. Ms. Palak built on by mentioning the three major functional elements of an entertainment enterprise namely- Production, Distribution and Subscription and how there has been a shift in the entertainment industry amid pandemic. Mr. Manik added an entirely new perspective to the discussion by elaborating upon the shifting focus from consumer markets to B2B owing to pandemic. He also talked about the traditional procedure of operation at his company and how there was a lesser adoption rate for the Dealer Digital Program prior to the pandemic but a boost in the acceptance rate for the same due to Covid.
While talking about the shift in the marketing trends with respect to the ATL and BTL strategies, Ms. Palak talked about “SaReGaMaPa”, which is the flagship show of Zee Media, and how the context of covid led to the auditions to be conducted as a BTL event this year. There was a shift to the digital side as the enterprise was celebrating 25 years of the show, by broadcasting the show for 25 hours and amplifying their virtual presence by signing up the various prominent faces in the industry. The response as she mentioned was phenomenal and came with a great learning experience as well. To which Mr. Manik stated that it’s majorly due to the pandemic that we are witnessing the hike in acceptance towards “digital”. Mr. Vishal further added that, “Due to the pandemic, we have expedited the change which was yet to come”.
When Mr. Ishan asked about Digital Campaigns, Ms. Palak mentioned the Ed-Tech industry, the landscape and paradigm shift and the contribution of students, teachers and the other enablers. She also elaborated on the perspective of the students in 2020 wherein there was a major focus on upscaling and enhancing the learning experience digitally. Mr. Manik talked about the Product Based Industries shifting to PAAS (Product As A Service), in order to retain productivity and engagement. Mr. Ishan and Mr. Vishal further elaborated by discussing the example of try and test model of Lenskart.
Mr. Manik said that, “Differentiation is easier said than done”, while he shared his story of “The Hulk”, a benchmark of differentiation made by Philips in the mixer grinders. Mr. Ishan further elucidated the same by saying that, out of the box thinking creates disruption. It involves passionate storytelling and connection with the audience. An effort for differentiating can only be successful if the basis, meaning and the impact of the same are communicated strongly and is capable enough to create a lasting effect. Ms. Palak contributed by emphasizing upon the power of engagement by stating a quote from Benjamin Franklin, “Tell me and I forget, teach me and I may remember, involve me and I learn”;
Towards the end, all the panelists elaborated upon the significance of data for businesses and CRM, with one of the panelists suitably quoting- “Data is the new oil”.
All the panelists gave their precious advice for the benefit of all the students as the event was nearing the end. Mr. Manik stated that the understanding of Artificial Intelligence is very important in today’s era. One should be a jack of all trades and should never stop learning even in the areas different from their field of career as it as it aids personal growth of an individual.
Ms. Palak underlined the significance of evolving constantly by being experimentative, innovative and open to new ideas. Mr. Vishal said that one should never shy away from working hard and should also be learning oriented.
The question answer round was conducted later, wherein the queries were addressed by the panelists. The best three questions from the student audience were picked up to be rewarded by Dr. Bhavneet Kaur, Faculty Coordinator Marquest, Marketing Club of JIMS.
An ending note from Mr. Ishan Dhara was delivered, which was finally followed by a vote of thanks addressing the Panelists, the entire JIMS fraternity including the Director, Dean (PGDM), IT support team, student coordinators of Marquest and the audience.
The event turned out to be a great success as it captured the interest of the audience, was extremely engaging and deeply enlightening.