- Home
- Upcoming Events
- Darpan
- Annual Report
- Shodh
- Seminar
-
Conferences
-
Mapping for Excellence
- 24th National Conference
- 23rd National Conference
- 21st National Conference
- 20th National Youth Conference
- 18th National Conference
- 17 National Management Conference
- 16 National Youth Conference
- 13th National Confernce
- 11th National Management Conference
- 10th National Conference
- 8th National Conference
- Techknowledge
- Finance Conference
- International Conference
-
Mapping for Excellence
- About
11th National Management Conference
Auspicious Occasions: Marketing Strategies adopted by Indian marketers
India is a land of religions. Many important religions are born in India like Hinduism, Buddhism, Jainism, and Sikhism. Almost all religions of world are existed in India. These religions divide the year into months, days etc. According to them some of these are auspicious or good and some are bad and some are normal times. These good and bad times are outcome of mythological stories of god and goddess in which some good or bad thing has happened in their lives. The life of people is highly dominated by religions in India from their birth to death. Various religious rituals and ceremonies are required to be performed by the people from womb to tomb. These must be performed on only auspicious occasions or good mahurats. Thus we find that throughout the year in India people performed various rituals and make celebrations. Nearly 150 days are various days to celebrate but some of them are big and celebrated on grand scale by the people like Diwali, Holi, Navdurga and Dusshara, rakhi, Gudi Padwa, Ramzan, Mohharram, Id, Dip Parv, Buddh Purnima, Mahavir Jayanti etc. Generally these festivals occurred at the end of a cropping Season when people are free from agriculture activities and have earned lot of money from good harvest. People also saved money to spend on these occasions. As religion sanctioned to purchase something new or begin a new venture etc. on these good mahurats. So people loose their pockets and spend big money on these occasions to purchase houses, car, Durables, Mobiles, clothes and eat good foods. Marketers also wanted to exploit these opportunities to get a bigger pie of these spendthrifts of people on these auspicious occasions. Marketers prepare in advance for these occasions and prepare their marketing strategies accordingly. Marketers’ changes in marketing mixes for these occasions and from promotions, to discounts, to offer, to prizes, to availability, to delivery and extra services and other marketing gimmicks are adopted to achieve their targets. Nearly 50% of the sales of a year are achieved on these occasions. Products of all stages of PLCs are sold from launching of new products, to modified products, to new added features products, to repositioning of products is done in these periods. Thus we find that marketers adopt various aggressive strategies to get bigger pie of these big spending of people. The negative impact of these heavy promotion and discount is that Brands are converted into commodities and competitions on price basis
Strategies for Rural Marketing by Applying 4 A’s
“Its not only the grass is greener in the country side, that’s also where a chunk of corporate top line actually comes from. Its time to tap the rural gold mine.” -The Hindu Business Line Rural marketing is the much talked subject for the business establishment. A decade ago rural market was seem to be unstructured and this was not found to be a target location of the corporate. This is due to the hurdles such as illiteracy, lack of technology and other factors leading to the poor reach products. But now “Go Rural “is the slogan of marketing gurus after analyzing the socio economic changes in villages. With the changing marketing scenario, the corporate marketing strategies need to be reshaped in order to have an increased awareness among consumers and the overall development in the rural sector. The 4P’s of marketing which is a hit in the cities might now work in the rural market. In addition to 4 P’s, 4 A’s have emerged into the rural market. Our study is going to emphasize on the strategies of rural market on the basis of this 4 A’s i.e. Acceptability, Affordability, Awareness and Availability.
Identification of Secondary Factors that Influence consumer’s Buying Behavior for Different Categories i.e. Face Cream and Pizza
Consumer behaviour analysis is completely based on consumer buying behaviour. Consumer behaviour has been changed dramatically in the past decade. Consumer behaviour was a relatively new field of study in the mid-to-late-1960s. Because it had no history or body of research, of its own but it aims at improving business performance through an understanding of customer’s desires and preferences. In today’s world of growing competition where there are numerous brands selling the same products, consumers is having an abundant number of choices and many others factors influence their buying behaviour. In such a scenario, this study can help in structuring and formulating many different strategies in order to maximize profit. This study made an attempt to find the factors affecting consumer’s buying behaviour, with focus on two commonly used products Creams and Pizza. These factors are based on certain variables used in the survey. The aim of these variables was at identifying the secondary factors that influenced the choice of creams & Pizza at the point of purchase. In these the variables include Packaging, cost , availability, ingredients, product popularity, and so on that influence the choice of a particular brand from among those in the consideration list, but may not be the most important and primary determinants for short listing brands. This study is useful to the marketers as they can create various marketing program that they believe will be of interest to the consumers. It can also boost their marketing strategy.
Customer Service Mindset
Customer service mantras and rules are common. But are they useful when it comes to actually delivering customer service? Will simply instructing the staff to "greet customers cheerfully as they walk through the door" have any real effect on how the staff handles questions that customers then ask? When a steaming mad customer tells you that you're incompetent and promises to have you fired, can you believe that he's "always right"? And when the boss asks for a report at the same time that the guy in finance needs today's closing balances, are you likely to answer your phone by the third ring rather than let it go to voice mail?
Customer Relationship Management: A need of the Hour
Customer Relationship Management (CRM) has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the companies to identify and target their most profitable customers. Faced with an increasing array of products and services, customers are expecting more from providers regarding value, ease of access and personalized services. Therefore, the greatest challenge for industries these days is to incorporate customer voice into design of products and service offering so that maximum customer value can be delivered to the customers leading to their satisfaction and positive impact on bottom line. The paper discusses the concept and evolution of Customer Relationship Management and outlines the way in which it can aid customer relationship by creating an enhanced customer value.
Maintaining Customer Loyalty in Competitive Market: The Role of Perceived value
With Globalization and emergence of number of small and large player across the world, generated for large alternatives for customers to purchase any product or service, the same has become challenge for business firms to retain their existing customers and get new customers also. It has been said that loyal customers provide firms a consistent source of revenue (repeat and increased purchases) and for cost reduction (less promotional expenses) that leads to increased profits. Customer loyalty is the result of successful marketing strategy in competitive markets that creates value for consumers. This study examines the mediating role of consumer perceived value in the marketing strategy-customer loyalty relationship. A theoretical framework is established that is supported by empirical evidence. Based on the literature, the findings indicate an inconsistent measure for perceived value that does not fully explain its mediating role. The conclusion is to be valid perceived value should be measured by specific non-monetary scale items.
Study on Determinants of Consumer Price Index
The aim of this paper is to study the impact of various Determinants on consumer price Index This paper will be based on the Secondary data that will be collected with the help of Official Websites of Reserve Bank of India. The data will be analyzed with the help of statistical tools Descriptive Statistics, Measure of Dispersion, Correlation and Regression. The CPI will be calculated by taking price changes for each item in the predetermined basket of goods and averaging them; the goods are weighted according to their importance. Changes in CPI will be used to assess price changes associated with the cost of living.
Customer Churn Management: Retaining Customers with Customer Relationship Management Techniques
Existing customers are the core of any company's revenue. Increased customer churn has resulted in rising customer acquisition costs and lower average monthly billings. It also has translated into a renewed interest of management in customer satisfaction and retention. Customer churn management is inherently cross-functional. Churn reduction, particularly with an emphasis on long-term profitability, requires the integration of technology and technical analysis with sales and marketing and customer-facing initiatives .This paper will discuss the strategic importance of customer churn management and building best performance in customer retention through CRM techniques.
Is Organized Retailing a Threat to Small Retailers? Perceptions of Retailers and Consumers
The retail sector in India is witnessing an upheaval with the introduction of new formats like departmental stores, hypermarkets, supermarkets and specialty stores. Considering the size of the industry and the tremendous growth potential, almost every major Indian business house is either getting into retail space or consolidating and expanding their presence. The turbulence and the competition are enhanced by a number of environmental challenges such as customer demographics, personalized procurement and changing regulatory focus. This is posing a great challenge to the traditional retail industry. Even though the modern retail industry is expanding at a rapid pace, India’s traditional local store known as “kirana” is the dominant player accounting for more than 80% of FMCG sales. The purpose of this research paper is to understand how traditional retailers perceive the challenges and their response to the changes that are taking place. Will they be able to find an innovative way to retain their customer base while competing with the highly sophisticated and organized retail formats or will they surrender and finally disappear. It also attempts to look at consumer’s perception on the threat faced by the traditional retailer. The study is exploratory in nature and reports the findings of the survey in Indore city.
Consumer and Service Providers Confidence with Online Shopping – on the Rise Every Year!
Combining real world shopping with virtual shopping is a new initiative. Consumer’s confidence in the realm of internet shopping has slowly increased in recent years. The stumbling block of safe shopping has been overcome with encryption technology. This has created a safety net that has certainly boosted sales. Online retailers must make consumers feel more comfortable on their web sites, instilling confidence in order to support sharing personal and financial information and ultimately completing purchases. The aim is to generate a measurable increase in online sales by generating trust and keeping a transparency in the buying and selling process via internet.
Brand Renewal- A Key to Brand Survival
Yes, everything old CAN be new again... once the brand disciplines of "Brand Renewal" are applied. Brand renewal is the process to rerecord a brand. Achieving a prime position in the consumer’s mind about the brand is every brand manager’s dream. However, even the strongest brands cannot remain so forever. . They require periodic restages and new product introductions in order to maintain relevance and market share, Assuring brand's evolution in step with the technology and needs have today – in other words, transforming an old brand into a new relevant brand keeps a brand being passed from generation to generation or what we call it as the “Heritage Brands”.
Television Channels Turns Green
The obvious assumption of green marketing is that potential consumers will view a product or service's "greenness" as a benefit and base their buying decision accordingly. The not-so-obvious assumption of green marketing is that consumers will be willing to pay more for green products than they would for a less-green comparable alternative product - an assumption that, in my opinion, has not been proven conclusively. In recent years the term green or eco marketing have come to prominence and reflect a growing concern at all levels of the impact of the increased consumption on physical environment. The implications of the destruction of the forests , the appearance of ‘ holes ‘ in the ozone layer etc were widely published and created a wave concern about the destruction of our natural environment. Therefore many consumers are in favor of eco-friendly products .This has created some impact on marketing. Increasingly products and services are turning ‘green’. Videocon, on of the largest Indian consumer durables manufactures, recently announced ‘green’ television sets. Green Marketing decisions extend beyond the immediate channel network and hence include the total set of organizational functions and activities that make up the product system life cycle.
A Study on Impact of Customer Relationship Management in Banking Sector
CRM is at the core of any customer–focused business strategy and includes the people, processes and technology questions associated with marketing, sales and service. Simply stated, CRM is about finding, getting and retaining customers. The aim of these systems is to assist in building lasting customer relationships – to turn customer satisfaction into Customer Loyalty. CRM has developed into a major corporate strategy for many organizations. It is said that CRM is not a product or service; it is an overall business strategy that enables companies to effectively manage relationships with their customers. It provides an integrated view of a company’s customers to everyone in the organization. With the intensified competition, companies realized that they have to treat their customers with respect. Customers have a lot more choices and they do not have to be loyal to any company. Companies are now trying to figure out ways to manage customer relationships effectively, not only to acquire new customers but also to retain their existing customers. CRM has developed into a major corporate strategy for many organizations. Banks are one of the prime users of CRM. Any Bank would have such a customer that it would not be able to monitor manually and find out various customer trends and patterns. So it is essential to attract, retain and grow customer base effective management of the information about the customers and enhance relationship with them. The paper analyses some of these challenges and the impact of CRM in banking sector.
Customer Relationship Management – A Tool of Management
The term CRM, arguably, was first put into the public domain around 1993, when Tom Siebel came up with it. So it is closely connected to Siebel Systems - an IT company. Hence the problem named. Many executives are under the misconception that CRM is principally an IT implementation. which explains many of its failures -- and there have been many of them. If technology is applied to a faulty business strategy, all that is going to happen is that the company is going to become more efficient at doing the wrong things. If the core business strategy isn't put right first, you'll have failure. As we view CRM more as a strategy than a process... get the business strategy right first. Decide which customers or segments to target. Develop sensible customer acquisition, retention and development plans. Sort out the channel strategy first (direct or indirect) then sort out which products, services, bundles of value to offer the chosen customers. Once that's in position, then start looking for IT to support it -- but not until then. CRM is putting your customer at the heart of your business. Today it is more important than ever to build better relationships with your customers as, in this day and age of social media; they now talk to 130+ people at a time. They have a megaphone, making it easier for positive and negative messages to spread fast and wide.
An Examination of the Effect of Product Recall on Brand Reputation and its Financial Implications
Customer loyalty is a major strategic objective and focus in marketing. It has been suggested that brand reputation is a major driver of customer loyalty, and hence companies seek to increase the equity of their brands. Brand image is an asset of a company. Establishing and maintaining a good image in the consumer’s mind is one of the basic requirements to retain the customers and hence the market share. Product recall (or replacement) not only affects customer satisfaction, but also the reputation of the brand. Now, this “recall” term is not very new to India. A car recall in general layman’s language would mean – When a car is sold and if there is any company defect found, company has to issue a notice to all the car owners to bring back their cars to authorized company workshops. The cars then get full replacement for that faulty part completely free of charge. Product recall may sometimes adversely affect the purpose of huge expenditure made to establish the brand image. And hence the purpose of the research is to study the effect of these Recalls on the brand image of the product in consumer’s mind and then attempt to develop strategies to retain their image in the stage of recall