The students of Indian Institute of Management, Raipur had an informative session with Mr. K. Ramakrishnan, President, Marketing at Café Coffee Day, on how to build a service brand.
Mr.Ramakrishnan spoke about how service is centred around creating experiences for people. Using the example of Café Coffee Day, he illustrated on how marketing is used to create a compelling position in the minds of the consumer.
It is all about identifying the correct consumer insights, turning it into an actionable opportunity and then creating a brand or proposition out of it. He provided the students with a new perspective on the concept of marketing.
Students got an insight on how services like Café Coffee Day apply marketing principles of segmentation, targeting and positioning to establish themselves. Mr.Ramakrishnan spoke on how vertical classification plays a crucial role in the identifying market opportunities.
Through him, the students understood the relevance of understanding consumer needs, brand positioning and how to use social media to listen, act and engage in real time with customers. Mr.Ramakrishnan elucidated how Café Coffee Day takes care of every aspect of its consumers and creates an environment for them.
His message to the budding managers was the need to keep an open mind, to learn from both positive and negative experiences and the constant need to ideate. He also spoke of the marketing strategies implemented by Café Coffee Day through collaborations during events like IPL or music concerts, movie promotions and through localised activities.
The session ended with a Q and A round where Mr.Ramakrishnan addressed the questions by the students. It was a great learning experience for the students of IIM Raipur, enriched by his marketing insight.