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AIMA - Indian Marketing Congress 2010: 'Next 15 years is going to be Ramrajya for Consumers'

SME WORLD Bureau
Mar 2010

With the burgeoning brand conscious middle class, continued liberalization, proliferation of media and improved infrastructure, the Indian market is set to be amongst the top three markets in the world. Indian Inc. sees Innovation as the best growth differentiator to scale up the market share. Continuous penetration to markets and consumer segments is now driving the marketing strategies of the companies. All jointly, from the consumers' perspective, weaving a market as Ramrajya for consumers.

These are excerpts of the address of R Gopalakrishnan, Executive Director, Tata Sons Ltd given at AIMA's (All India Management Association) two day marketing congress 2010 that held at Hotel Le Meridian, New Delhi . This year theme was 'Marketing for Emerging India: The Road ahead'.

Marketing is an area where all the companies apply all the fundas. Gopalakrishnan also suggests 4 C's of marketing relevant to India where Jugaad is a way of Life. He said that 'Challenge, Chaos, Creativity, and Communication' are the unique features for India. We need to be disciplined and analytical to get straight to our target and we have a great time ahead.

'Affrordable Product Innovation' Maruti Suzuki's Managing Executive Mayank Pareek, Tata Chemicals COO Dr. Arup Basu and Raymond's President Retail and Business Rakesh Pandey opined and shared as to how these companies made affordable product innovation as key tool in lowering the overall product costs and breaking into newer markets with products that were developed for the market at the bottom of the pyramid.

Dr. Arup Basu giving examples of product innovation spoke of low cost water purifiers for the masses, iodised salts to fight iodine deficiency and iron, chemical fertilisers being sold to farmers with adequate information said “ Abilty to deliver customised applications through deep understanding minimal frontline presence and low cost back end will give value based innovation.” Mayank Pareek said “India needs affordable innovation as India is diverse, unique and so we need affordable solution to create new segments. India will be the springboard for innovation in the world in the coming decade.” While according to Rakesh Pandey Raymond affordable innovation is a game changer provided its not a strip down version and makes significant difference to the consumers life. He also talked about the process that fuel innovation.

Delivering the welcome address S K Swamy, Congress Co-Chairman & CMD – R K Swamy BBDO Pvt Ltd and President AIMA giving reference to various studies said, “India is poised to be the largest economy in the years to come and also in terms of purchasing power ability. Importance needs to be given to Innovation, modern retailing, social media, rural economy and creativity to help in the marketing space”

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