Showing posts with label Blogger's Park Entry. Show all posts
Showing posts with label Blogger's Park Entry. Show all posts

Saturday, October 24, 2009

Friday, October 23, 2009

Archita Trisal, MICA

Tanvi Gupta, MICA

Neha, IIM Calcutta

Hitesh Advani , Gidc Rofel Business School


Kshama Chhapkhanawalla, Welingkars Institute of Management Development & Research

Word Of Mouth
Sue is a new hot girl in college,
With hair as dark as the night,
Her eyes are soft with a sparkle,
And her smile could fill you with delight!
She is a rave amongst the boys,
And the word has spread so fast,
That most people inquired about her,
To know her current status and her past.
After the surveys were finally over,
And all looked fine and cool,
I personally got a chance to see her!
She was a friend of my friend from school!
Her body was insanely sexy,
Her walk was full of grace,
And when we exchanged a smile,
I could feel my heart increasing pace.
Half the college has not seen her
Although most of them would die to
But in all honesty I know
All say of them swear by ‘as hot as sue’

Anish Shah, Indus Institute of Technology




Ishan Rohit, IMT Ghaziabad

Customer Value : It matters
Introduction
Gone are the days when customer was synonymous with the word ‘casht se mar’ (Hindi, meaning: dying out of stress). Customers are God today, who Generate the revenues, make businesses Operate and even Destroy the incompetent.

Most of the markets are monopolistic which leave little room for price making. A large number of competing firms in the same level playing field are in a frenetic fight to increase their customer base. This can be achieved through either eating into the competitor’s share or creating a new market. As the population keeps growing, the latter do happen more easily, but at a relaxed pace. The exponential growth can be touched by snatching market shares.

Why Customer value ?
Customers have numerous options to choose from. At the first instant, they may go by their instinct and buy a particular product. This may have been a result of an advertisement, advice of a family friend or even persistence of their children. Similar to the idiom “It’s easy to reach the top, but staying there is difficult”, it can be inferred that it’s easy to acquire a customer, but it’s difficult to retain him/her.

Gauging by the Pareto analysis that 20 percent of customers bring 80 percent of revenues, Customer value to an organization holds importance. Customer Lifetime value, judged by the amount of a product bought during the customer’s lifetime helps to ascertain his worth to the company. If he is a high value customer, the management can then decide to focus on him and increase his satisfaction levels. This can be aided by specific offers and delightful rewards, which can be in the form of birthday or anniversary gifts. A customer-company relation can be transformed to a more informal one. Even to an extent that the customer can act as an influencer among his group propagating word of mouth publicity about the company.

When marketers sit with the existing customers list and wonder how to meet targets within the specified time, they have a helpline in the form of Customer value. They can easily neglect ‘Lead’ Customer who have generally been disinterested and increased customer retention costs of the company. A brighter focus on the gold and platinum customers saves communication and time costs, at the same time decreasing the customer churn rate.

Analyzing through Customer value
Defecting profitable customers must be counseled for their experiences which propelled them to take the decision. Since they have a useful insight into the company’s services, they may be able to pinpoint a fault which could have been neglected. Even best of the processes and practices are sometimes not providing that ‘wow’ factor for the customer. The reasons have to be looked into, as they are reported by valued customers.

Tejuswi Prakash, NMIMS


Cash Cow
Boston Control Group brought me in,
I ensure every organization a definite win;
I am a cow laden with excess cash,
Dogs,?, and even stars I can thrash.
I am a business for lots of money,
The profit margin looks so sunny;
I need a little cash to be maintained,
Long term growth is what is sustained.
I come in with a high market share,
The future looks so bright and fair;
Low market Growth, I don’t worry,
As lots cash comes so fast in a hurry.
I am considered stable and boring,
That is why require a little of milking;
Firms desires for many varieties of me,
As I give them success, the golden key.
If a change is ignored by the management,
I as a rich cash cow become so complacent;
Replacing me for the better is the need,
As they have myriad stakeholders to feed.
Excess cash can always be reinvested in turn,
For I can ensure shareholders a big return;
Apple’s I-pod can best describe my role,
People like it with their heart and soul.
I can be a tempting target for a takeover,
I can give firms a beautiful, shiny makeover;
This is just a small description of mine,
Working with me will show you the shine.

Sweety Jain, Welingkar institute of Management Development and Research

Word Of Mouth
Somewhere amidst the Himalayan city
Was located the institution of my knowledge
A place where all the learning’s began known as the college.
The local language influence had its unique way
Of how these three golden words would get me enough pay.
Ek kaan, Do kaan and Makaan was the way I learnt this mantra
And today it is the best marketing tantra.
With the clutter of 1500 ads viewed everyday
The power of words is what ultimately lay
You speak about either what you like or what you hate
This brings about the efficiency rate
The power of words through the mouth interface
Will definitely taking you ahead in the race
A jargon that is a part of every marketing class
is successful only if it reaches the mass
well the crux of it is not just talking about it
but to spread the word enormously to make it a hit
human tendency of believing what others say
surpasses the gimmicks that others lay
make it happen, let it be talked about
you will definitely be accustomed to the clout
the story is not so simple
any misinterpretation would be a pimple rather than a dimple
intricate details to be taken care off
to make sure that the right message reaches the other end
ample number of examples from the past to prove the efficacy
right from the hereditary passage of the tortoise and the hare story
the life expectancy of this marketing mantra is unlimited
from the Stoneage to contemporary world it remains unshed.
Gossip would be another terminology for these three words
Trust, Reliability and potentiality being the three cords
the indian mentality of making sure that no news remains confidential
making sure that everything is passed and the act is real
The power of words spoken remains unconquerable
The spread is fast, more and unbeatable
Tool needs to be used to its maximum
So that the viral spread reaches all rather than some.

Amandeep Kohli, IMT Ghaziabad

Below the Line Marketing: An under-the-pant approach
When you hear the word Below the Line, and you here refers to us soulless MBA types, you normally associate it with promotions and short-term incentives. For instance, Wikipedia (May God Bless it creators) defines BTL as “forms of non-media communication such as short-term incentives, largely aimed at consumers”. But that’s so boring right!

So let me define the real meaning of Below the Line marketing – a truly interesting concept which applies to all items that can be marketed from the waist downward so as to speak. Well that leaves us with rather odd assortment of choices starting with the Jockeys and Amul Machos of the world. And let’s just confine the contents of this post to the men’s department or else I might be sued for vulgarity. So here goes your crash course in Below the Line Marketing.

I thought that before going on to talk about the different types of ways to market such items, I would define the meaning of the “Line” first. Because essentially speaking, there are different types of lines in this world – from thin to fat to black to white; but I think you get the drift so I’ll stop right here.

If you look at the advertisements, all of them seem to focus on the male libido with the exception of Amul Macho which for reasons only known to them decided to focus on monkeys and apes. Talk about monkeying around! In my opinion, all underwear manufacturers should tie up with condom companies and sell the two as a co-branded product. This will go a long long way in dealing with our nation’s fight against AIDS because everyone might not buy condoms but everyone definitely does buy undies man. This will also keep various NGO’s happy as your company will be seen as one serious about CSR and increase your brand value. Voila!

Hey and in case you think my ideas about Below the Line are crazy and out-right demented, you’re in for a huge surprise buddy. For I have other enlightened fellows like me in this world who’re always thinking about the health of our society by keeping your funny bones tickling. Want proof. Here’s one:

These days everyone’s talking about the recession and how marketers especially should cut costs. Well, looks like someone really thought Below the Line in this case and as this article in TheDailyBlonde points out new BJs are only 99cents! Well I dunno how much the old ones were worth but this one is a definite cracker of a deal for all the men out there and especially for those who didn’t believe in God!


Now that you’ve really got the clear meaning of all the fundas about Below the Line marketing, well, what in the devil’s name are you still doing here reading this Gospel? Get out there and dazzle the world with your new found knowledge. And make sure you wear a little protective gear around your private parts ‘cause you might just get kicked Below the Line'.

Rhucha Kulkarni, SIMSREE

A WAR OF WITS: Guerilla Marketing
Watch out, beware; it’s a battle out there,
Every company eyeing a greater market share.
Making a mark in this cut-throat competition,
Calls for an era of marketing innovation.
Marketers, Awaken!! Unleash your new weapon,
Invest time and energy, perk up your imagination.
Move on from bows and arrows, the old world marketing tactics,
Battle it out with machine guns, the new age guerilla logic.
A logic garnering trust, and relationships unending,
Reach out effectively to customers, through judgment and understanding.
Communicate through social networks, tap into new segments,
Shout out your brand loud and clear, use wild placard campaigns.
And yes, do not forget, the power of the spoken word,
Get going and use guerilla for the buzz to be heard.
Get creative, get unconventional; recreate your brand vision,
Advertise digitally, extract the maximum from minimum.
Two companies, two products, like pythons in a deadlock scramble,
Each uses stealth in war, to swallow up the opponent.
These two lions in a fight, using aggressive guerilla marketing,
But are customers overwhelmed, is a thought worth pondering.
The future is fierce, the future is next,
Is guerilla the way to go, or do we need to introspect?

Varun Kalkal, MICA

Sujeet Sairam, MICA


Aarthee, BIM

Idiosyncrasies of the Oral Cavity!
“Pinku didi’s son Chottu failed in 3rd standard maths exam”, Pinku’s servant big mouth Meena told in C block Radha’s home where also she worked, who told to her neighbor F block Geetu who told her husband Rajiv who told his colleagues who lived in the same apartment when they went for morning jogging in the park which was heard by an old couple who were incidentally Chottu’s grand parents unfortunately!!

Imagine the phrase being replaced with “Pinku didi’s son Chottu is all rounder cause he drinks ABC health drink”- what was supposed to be series of gossips transforms into unpaid promotion campaign for ABC brand. But why does this information travel more vehemently than what a model cum mother in a TVC states about the same ABC brand?

“People care about people who care about them”- care even to share with them even the minuscule details they come across in everyday life! So that’s first chair on the Diaz of this discussion- Trusted Gossip!

Blaise Pascal came up with the triangle that geometrically represents the binomial coefficients – but what matters here is that moving down the triangle the numbers mingle & develop in superior dimensions. Similarly recommendations work like the formation of Pascal’s triangle- 1 person makes it to 2, who make it to 4, who leads to 8 & so on! Especially in today’s world with media & communication in every touch of anyone’s life, it is always possible for someone to just go around spraying their brand experiences in all possible ways- which may multiply & grow in dimensions explained by Pascal.

Saying in other words, information transfer in Pascal’s triangle is similar to what happens in Domino effect or Chaos theory- a teenage girl who tries an exotic flavor drink in CCD can set ALL her college mates like a pack of cards to falling towards the same drink- providing free advertising to CCD! Chair 2 on Diaz- Pascal’s triangle!

Galileo showed that gravitation accelerates all objects at the same rate by dropping 2 balls of different dimensions from Tower of Pisa. This scientific finding can be compared with what happens to finest & nastiest brand experiences- they just travel with same intensity. They are like some bottled up emotions which come up in mind of a young guy who meets his high school crush in alumni reunion after about 10 years, waiting to get out and make the best use of the moment! C block Radhu just cant keep it to herself if she gets to know “Chottu, the all rounder drinks ABC Health drink” or “Pinku’s son failed in 3rd standard maths exam”- she just behaves like an missile launcher that is indifferent to all missiles but just needs to keep launching. Chair 3 on Diaz- Uniform acceleration!

Why is there a need to establish dominance? This question has its presence in all fields ranging from ecology to marketing, but answer remains just the same as explained by Pecking order theory which states that dominance is established by defense & aggression. The dominance in hierarchy is necessary for reducing conflicts which incur expenditure of energy which translated into marketing parlance is as follows “Dominant brand in the market stands out & can save on marketing expenditure as they have free “Trumpet blowers” in form of customers”! Bottom-line of discussion- best brand experiences transform into individual advertising campaigns at zero expense to the company but positive income possibly. Final chair on Diaz – Pecking order!

With the four chairs aligned on the Diaz and enormous confusions mounted in reader’s mind, only last thing that needs to be added is just that “What this article needs is Word of Mouth”!

Gaurav Kumar, MICA

t was a sunny day in bangalore when I was walking down MG road with one of my college friends(a girl but not my girlfriend, actually I had tried but failed).. Anyway, back into flash back.. So, I was at my best to impress the dusky damsel walking by my side, ironically looking at other hunks on the street..and here comes the embarassment, a group of black Tshirt clad ladies with pamplets in their hands and offering a test drive on Pulsar "Definately Male" (aaahh... din know if it was a coincidence or an alternative as it was not working with the lady). I hesitated and gave the excuse ...Sorry, we have some urgent work and would give a try next time..the girls insisted and surprisingly "My lady" also joined them in pushing me forward to have a test drive. 10 minutes of counter discussion and here I washed my all the hopes down the drain to impress "My lady" with a blank face and disappointing confession "Actually I do not know how to ride bikes"... Oh my god! exclaimed the lady and looked at pulsar's "Definately male?" with a question mark.... I knew that was one of the marketing stunts of Bajaj and I was a victim of the "guirrila marketing".
After a decent period of time, when I became more erudite in terms of understanding management terms , I had another conflict, why Guerrila and marketing together?, isnt marketing enough alone to say it all?.... So the question is how to define marketing? how to justify Guerrila being associated with it? I would ask pardon from Mr Kotler on that but can not inhibit to express my perception about the subject which subjected me to a state of continuous introspection and ethical conflicts. Marketing is all about creating or understanding the needs of consumers(Such a kind hearted people the marketers are..grrrhhhhh!) and it is the process of communicating and delivering in a way as to benefit customers as well as the stakeholders(And in what proportion?)... now you add "unwanted" in all the verbs used in the pedantic definition and you get what "guerrilla marketing" is... Pulsar 200cc is the best bike for me when I do not even know how to drive a 100 cc bike, Plasama TV is the best deal in the market for me ... when I am still going on with my philips radio and vividh bharti on that...what kind of intrusion is this?
Over the years, I have developed a mindset and I am very strict to it... "you are always in market and you have to sell always else you can not succeed"... and if you do not follow this and fail...be a guerilla!

Shalini Kumari, MICA

Word of mouth: Double-edged sword


“It is an awesome movie…Hrithik is in his best form and so is Ash…the script is wonderful man! You must watch it!” Ever heard such a description from any of your friends? It so obviously compels you to go and watch the movie as soon as possible.

So, what do you think? To start anew, human-beings have always had the highest credibility and more so if they are our close friends or relatives. Right from our childhood, we take recommendations from the ‘experienced hat’ in terms of taking admission to school/colleges or taking up a job. It is just too obvious that the same is followed when it comes to purchasing a product.
Tracing the history, we immortals have always been good at spreading the word across. Right from the time when paper was not invented, the teachers used to lend their learnings based on memory to their disciples and it used to pass on like this from generation to generation until we stepped upon writing. Similarly the ‘bed-time stories’ about the older India and its myths by our grandparents had the same effect until we grew up enough to question it.

What enhances the credibility of WoM is the personal touch associated with it. The fact that we could not identify any ulterior motive on the part of the ‘teller’ generates a natural buzz about it. We learn from other’s experiences. We identify ourselves with other people and decide based on the experiences of the other person.

It is discovered in a survey that India (87%) holds the 4th position in trusting other’s advice over any other advertising tool with Hong-Kong (93%) leading the list. This very well reflects the natural trust we Indians entrust on others.

Next comes the question of harnessing the power of WoM in an era of more awareness, information and inquisitive customers where there are several channels of information available to them. How does one go about it as a marketer? The first and foremost important thing about WoM is to be honest. It does not take long for the customer to find out the truth and when it does there is no quicker way to destroy a brand than negative word of mouth. Hence, negative word of mouth can be extremely detrimental to any product .This is the other side of the coin or the other edge of the sword.

We hear it all the time that “word-of-mouth marketing is the best marketing because it comes with credibility and it costs you nothing”. Here I would like to differ a little because I believe that WoM is not just something that is reserved for marketing and communication folks. It is constituted outside of a formalized setting. It does not need any kind of marketing strategy but yes, we do need to plan for how to generate WoM buzz for our product/service.

The most important thing is to have a compelling unique selling proposition to enable a person to tell their friends about it. This constitutes the first step towards generating WoM. It often helps to introduce elements of surprise in form of unexpected freebies to get attention or stimulate customers to get talking about your brand. Do what others don’t. That’s an easy way to surprise people and win attention. Let others set the tone and you be the first one to disrupt it by being different. Hot Chips serves as a very good example of positive WoM.

It's no longer just one neighbor complaining to another about a bad experience he had with his car --- it’s a blogger relating his complaint to millions of people around the world. And what he says has permanence on the Web, unlike a passing comment made over the backyard fence. A review on Amazon.com or a strategically placed blog posting now has the power to radiate to more viewers than a primetime TV ad and be perceived to have more credibility.

Truly said that a successful marketer is one who has seen both the sides of the double-edged sword (WoM) and knows how to deal with it in a manner which is beneficial to him so as to avoid the other edge coming down his throat!




Annamalai, MICA

Anshoo Grover, MICA

A Barter of Emotions (Customer Value)
One sweet summer evening,
I smiled upon a thought;
For strange pleasure I got,
From all that I ever sought.
- - For everything I ever fought.

I was just about twelve,
When, on dinner, was my first date;
The chocolate was dark, and the roses – rare,
Still angry she was, for I was late.
-- Yet a kiss I got, by sweet fate.

From toys when kids, to crushes when teens,
Everything with pals – we shared;
Still competed, in a manner so strange,
That being best – was all for what we cared.
-- In private & public, these triumphs were aired.

A full million bucks I spent,
To make through a b-school;
Oh, that time! I love it no end,
No day did pass, with an unbroken rule.
-- The senseless race to be cool.

Smoking, for no reason other than,
Just to be a part of all;
Taking a drag of weed too,
When friends held a call.
-- Together we did rise, together we did fall.

Customers of emotions we have been,
Satisfaction of desire – our only value;
Its trading was never done alone,
Give and take, forever equal, between I – and you.
-- The barter of happiness, only then, is complete and true.

Richa Tibarewal, IMT Nagpur

Guerilla Marketing
What is it you want to sell?
Decided the target market?
Which market you want to sell in?
How do you want to sell?
Is it through the word of mouth or Buzz?
Or is it the advertisement that is must?
This is actually a hassel free marketing.

Guerilla is all about passion,
It is about the power the brands possess.
A small organization like yours
Is closer to customers than huge organization like ours.

Understanding the customers needs,
Establishing healthy relationships,
Builds trust and support in them
Is the strategy that guerilla marketing banks upon!

Human psychology forms the foundations
Primary investment is not money,
Instead time, energy, and imaginations.
Be different, stand out from crowd
Have to be heard not necessary be loud.

Guerilla attacks unexpectedly,
Its unconventional, it is different, it is unique
A provoking concept that generates buzz, turns viral indeed.
Approaching unusually, encountering in public places,
PR stunts and street giveaways of products sellslike derby horses,
Motive is to get maximum results from minimum resources.

Attracting customers on the spot,
Keep them engaging that they do not leave the host,
not done by airing just the advertisements,
Most important is engaging the customers and create a memorable brand experience.