IIM Amritsar successfully conducted its Financial and Management Conclave under Pariprekshya 2017 on 11th November. The event witnessed the presence of Industry stalwarts discussing, addressing and bringing valuable insights on some of the most important topics in this current aeon.
The event saw two sessions with the Financial Conclave dealing with the topic “– India’s way ahead towards Financial Inclusion and the Marketing session dealing with “ Digital Marketing - The new Voice of Revolution”.
An elite consortium for the Financial Panel constituted of Mr. Ashok Pal Singh, Senior Deputy Director General, Department of Posts, Mr. Prashant P Singh, Assistant Director General (Technologies) UIDAI, Mr. Sanjay Sharda, Head, Rural Distribution, IndusInd Bank, Dr. Vipul Mathur, Department of Economics, IIM Calcutta, and the discussion was moderated by Mr. Pankaj Arjunwadkar, Director, Strategy and Operations, Deloitte.
The second panel for the Marketing Conclave constituted of heavyweights - Dr. Kushal Sanghvi, India and APAC, I-COM Global, Mr. Sandeep Balan, Head, Digital Marketing, United Breweries Ltd, Mr. Amit Tiwari, VP, Marketing, Havells India Ltd, Mr. Sourav Shah, Head, Digital Marketing and CRM, Jubilant FoodWorks Ltd, Mr. Utsav Rawat, Head, Marketing, Novartis and the discussion was moderated by Mr. Sameer Seth.
For the first conclave, the various facets, the challenges, and the way ahead for achieving an absolute inclusion were the main touch points of discussion. Using a robust distribution network, and with the advent of the unique identification with UIDAI, the rate at which every strata of the community is unprecedented. Also the role of the Banking system to provide this type of inclusion has been discussed.
However, a quantitative analysis between the access and usage, usage and uptake and inclusion and impact has been projected. Though numbers have certainly increased, the translation has to be increased in order to achieve the objective. Impact of GST, Demonitization, DBT and UBI have been discussed in form of numbers in order to further increase the realizable impact. But in order to allay the fears of the huge consumer base, it is important to give them the right nudge and work in accordance with their emotions, feelings and try to develop a model that quantifies it.
While discussing about Digital Marketing, the definition of the term digital was expanded and the point that it was not only related to social spheres was highlighted. The opportunities and the threats of this digital landscape were also discussed. The concepts of Social Scientists, Internet of Things and other concepts that have bolstered the prominence of the Digital was also highlighted. The impact of this digital revolution was analyzed w.r.t. Traditional marketing and other forms like Product placement, Reputation Management, Brand promotions, etc.
Also the definition of digital was expanded to include Power and points, imagination and even marriage with Traditional marketing. The panel also provided valuable insights about fusing this phenomenon with the traditional models (4Ps) of marketing. Also the various nuanced techniques of creating buzz, using latest technology to generate viral trends and the importance of quality content in garnering the right amount of publicity a brand requires.
In conclusion, it was a highly successful event showcasing the true essence of IIM Amritsar which is active juxtaposition of industry and academia to make its students well-equipped and better prepared for their future managerial endeavors.
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