IIM Raipur conducted its first marketing simulation store “Soap Opera”. As the name suggests the simulation was about the Indian soap market, one of the biggest FMCG sectors of the country.
The event was conducted by a team of PGP first year students under the guidance of Prof. Sanjeev Prashar, Chairperson, Career and placement, IIM Raipur. The event was attended by the faculty and the students of IIM Raipur.
The store was launched with a case study presentation “Soapcase” by PGP first year student Shweta Mallick. The subject of the case study was Lifebuoy, one of the oldest soap brands and world’s largest selling soap.
The event had counters of major players in the Indian Soap Industry which displayed the various products and their variants from the product line of the company. Information about the history, target markets, positioning and campaigns during the evolution of the product was provided by the student volunteers. The companies who featured in the marketing simulation store included Godrej, Wipro, HUL, ITC, Park Avenue and Reckitt Benckiser.
Students participated in a quiz session to check their knowledge about the Indian soap industry. The quiz had attractive prizes for correct answers.
Prof. Sanjeev Parashar explained how the 4P’s do not work in rural India. Companies generally fail to understand it and hence their products do not make a mark in the Indian market.
The last phase of the simulation consisted of a humorous skit presented by Sujeet and group to show how despite of many marketing strategies being framed and applied by big companies, their products do not get success.