Published : Saturday, 20 February, 2016 1:07 PM
MICA today hosted the second day of its third annual International Communication Management Conference (ICMC), being held at its premises from February 18 to 20, 2016.
The theme for this year’s conference is “Marketing Reborn: Traditions, Trends and Techniques”. Today’s sessions involved talks from eminent industry professionals addressing key emerging trends in marketing across industry categories. The Conference began at 10 in the morning at the Mani Aiyer Auditorium. Today’s topics were centred around Industry Presentations, Marketing Metrics, Evolution of the P’s of Marketing, Features of the New age Consumer and Digital Marketing.
In the expert power panel discussion that happened on the core theme of ‘Marketing Reborn’, several interesting topics were covered. Professor FalguniVasavadaOza, who chaired the discussion, discussed the importance of data in marketing, especially in the dynamically changing context.
She also highlighted the fact that marketing still is driven by storytelling where content is still the king, however, conversation is not far behind. She illustrated the changing media consumption habits and how the focus has shifted from retailer to empowered consumer, with a shrinking power distance.
Harish Bijoor, of Bijoor Consultants, spoke about how Marketing has evolved and MNCs are reinventing marketing through repatriating profits making it more challenging for MNCs. He also spoke about the shift from Word of Mouth to Word on Digital. Pankaj Pachauri, a prominent Journalist, detailed the journey from "I am UP-START" to Now "I am START-UP".
He explained the dynamics of marketing in media and how reporters and editors have changed their roles from being an expenditure centre to the role of an agent of marketing. He explained the curious concept of how marketing can become self-defeating, quoting the example of the Incredible India campaign.
ShyjuVarkey, of Radio One said that marketing is never dead, and as long as product/services exist, marketing will be there. She explained with the example that radio was dead in more ways than one before we energized through lot of money sunk into licenses as none understood magnitude of industry. No one takes radio seriously—anything leftover, is thrown at radio. She also indicated how this myopia is changing for the better.
Sirish Chandrashekar said that useful products never die out of demand and that most major shifts are happening because of technology. He explained the impact of bran d perceptions and how social media helps in forming them.He reasoned upon how watches have journeyed from a utility device and are now surviving as a fashion apparel, thus sustaining sales even after losing the old relevance. Ashwath S., Lakme (HUL) spoke about the lessening attention span of the people, illustrated through changes in popular culture and cricket, including how social media is changing the marketing landscape, making relevance and deliverables take the centre stage, with respect to consumer needs.
The day was filled with exciting discussions and lectures on several emerging trends, acting as a perfect platform for scholars to present their work and for students to get wind of the dynamically changing market trends.
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