AN ICMR AND 4Ps B&M SURVEY

Brands are like relationships. And in a crisis, relationships can either become better or worse, depending on the situation. 1999 was a tough one for Argentina. Not only did the economy suffer its worst economic recession in a decade, even established brands were affected badly. A Nielsen study affirmed that in 35 product categories, market share of leading brands shriveled by 5% to 64.9% during the bad times. Some of the world’s leading brands may have been born in times of recession, but even the best of brands find it tough to ride a recession unscathed. Our 2009 annual rankings of India’s 100 Most Valuable Brands comes even as the dark shadow of a slowdown seems to be receding from the economy. Read on to get acquainted with the super survivors and how they fared…

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Getting greedy, are you?

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Brand: Alpenliebe
Agency: McCann
So you thought Kajol and the Croc display the ultimate creativity for Albenliebe? Well, think again. Their most attractive promos came in 2000-01 adding a tinge of wit, a pinch of humour and a whole lot of greed to the candy. Jee lalchaye raha na jaye positioned Alpenliebe both for kids as well as adults. In 2006, among sugar confectioneries, Alpenliebe emerged as the single largest brand in India. Howzzat for effectiveness?

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The ‘Fear Factor’ in Politics

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On the face of it, the message being sent out by the President of BJP is quite purposeful and positive. Who wouldn’t want an India that doesn’t vote on the basis of religion? But then, when it comes to the foot soldiers of the party who actually ‘contact’ the consumer in the field during elections, the gospel of equal distance between religions somehow gets transformed into an invocation of the lurking ‘fear of the other’. Just look at what Varun Gandhi, grandson of Indira Gandhi and great grandson of Jawharlal Nehru had to say while campaigning in his constituency in Pilibhit in Uttar Pradesh. If nothing else, it was a clear assertion that you can’t trust Muslims and that a vote for Varun Gandhi will mean the protection of Pilibhit Hindus from Pilibhit Muslims. Much has been said and written about the ethics and morals of the now notorious Varun Gandhi speech. But beyond the rhetoric, the brutal fact remains that the ‘fear factor’ will once again be decisive if Varun wins and turns out to be a smart marketing strategist.

In fact, the rise and rise of BJP and its prime ministerial candidate L. K. Advani can be clearly linked with the power of the ‘fear factor’. It was the Shah Bano controversy during the mid 1980s that created genuine misgivings amongst millions of moderate Hindus about the alleged appeasement of Muslims. BJP successfully parlayed this apprehension into a powerful marketing strategy. So successful was the strategy adopted by L. K. Advani and his team of strategists that the BJP actually emerged as a ‘national’ rival to the Congress.

The Left too has its own version of fear factor to play around with. Says, CPI leader D. Raja, “Our line of campaign is entirely different… We speak for the poor people, we fight for the interest of the people, for sovereignty, for secular values.” The message outwardly is positive. But at the ground level, much of the real message is visceral distrust and dislike of the United States of America. The Left still thinks that Uncle Sam is a malevolent imperial power and that the people of India would be scared enough of Uncle Sam to vote Left. No wonder, their appeal has dwindled over successive elections, except the unexpected bonanza in the 2004 General Elections.

And what of the Congress? The party was clearly the pioneer of the ‘fear factor’, using it dramatically & successfully back in the 1984 elections when Rajiv Gandhi won a historic mandate. But those glory days are well and truly gone and Congress represents a tired national brand whose market share is being constantly nibbled away by aggressive regional players. In state after state, the core competence of Brand Congress has been hijacked by regional parties and it has not been able to retaliate. In that sense, Brand Congress is like Brand Bajaj. Till the 1980s, both the Congress and Bajaj completely ruled the market. Their ‘hegemony’ was virtually unchallenged. To buy a Bajaj was to be an Indian. Contrast that with the situation today where Bajaj has become the No.3 two wheeler company of India. Can both Congress and Bajaj reinvent themselves and find a new positioning strategy?

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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You may fly no more!

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Current economic conditions are threatening survival for many aviation players. Tremendous scaling back is needed to avoid bankruptcy, says Ratan Lal Bhagat of 4Ps B&M

“Students open your textbooks to page number nine, chapter 11,” stoutly commanded the elderly professor. The students, who dreaded calculus, knew that their worst nightmare had just begun.

Players in the aviation sector dread Chapter 11 too, but not for the reasons that the students do. This is the chapter that airlines have to open when their flawed business models throw their business calculus (read profits, revenues) into complete disarray. They now have to look into the ever dreaded Chapter 11 (bankruptcy) despite loathing it from the bottom of their hearts.

According to a report by Centre for Asia Pacific Aviation (CAPA) more than 30 airlines the world over, like Frontier, Skybus et al, have been forced to shut ‘hangar’ and file for bankruptcy in the past 12 months. Many others like Continental Airlines, US Airways, Southwest Airlines, Alaska Airlines, et al are all passing through bad times and are on the verge of being grounded.

“The revenue outlook is not encouraging, but we remain competitively well-positioned. We are seeing declining revenues on international routes, but these are still good markets for us,” explains Larry Kellner, Chairman & CEO, Continental Airlines to 4Ps B&M. Delta Airlines and Northwest Airlines, wich have already swallowed the bitter pills of bankruptcy (in 2005) have come together to avoid a round two of the heart shattering episode. “Given the difficult economic environment we face, the flexibility in the system is even more crucial and we are moving quickly to create a flight schedule for 2009 that optimises the profitability of every route,” professes Jimmy Eichelgruen, Regional Director Sales, India, Middle East and Africa, Delta Air Lines exclusively to 4Ps B&M.

Many of the players who had dialed the frightful number in 2008 were hard hit by the sharp surge in fuel prices. However, while the economy was relatively strong, many airlines found that they were able to pass on these cost increases to passengers in the form of fuel surcharges, which added to the already high fares. The global economic slump is perhaps a more challenging situation than high fuel because airlines have limited ability to maintain demand and yields in a softening economic environment. “The current economic downturn is extremely challenging for the airline industry. There has been a particularly pronounced fall in premium class and cargo revenue. In December 2008, premium class traffic in Asia declined 24% year-on-year. Not only are airlines finding that fewer passengers are flying, yields too are declining,” explains Binit Somaia, Regional Director, CAPA. And it is evident that the current economic mayhem might prove to be the culprit bird that could get sucked into the propellers of these airlines, forcing them to crash land.

The accumulated loss for airlines was a whopping $5 billion loss in 2008. All these have been fuelled by the global international cargo traffic, plummeting by 22.6% in December compared to December 2007. Whereas a similar comparison for international passenger traffic showed a 4.6% drop. The international load factor stood at 73.8%. Moreover, throughout 2008, international cargo traffic was down 4%, passenger traffic showed a modest increase of 1.6%, and the international load factor stood at 75.9%. All the aforesaid factors, along with the gradual decline in the cash reserves of these players over a period of time, seems to only add pace to their fall and force them to file for bankruptcy.

Furthermore, the International Airport Transport Association (IATA) forecasts a further loss of $2.5 billion based on a fuel price of $60 per barrel in 2009. It further states that there would be a decline of 3% in passenger volumes, 5% in cargo traffic and yield deterioration of 3%. Moreover, industry revenues are expected to contract by $35 billion yoy to reach $501 billion in 2009. “2009 is shaping up to be one of the toughest years ever for international aviation. Keep your seatbelts fastened and prepare for a bumpy ride and a hard landing,” said Giovanni Bisignani, Director General and CEO, IATA. Somaia straight-facedly sums it up, “It is likely that we will see more carriers enter bankruptcy in 2009.”

The only way out is through controlling costs, cutting down on fleet size and maintaining a sustainable cash reserve. “In an environment of declining demand, the most effective solution is to reduce capacity, which would mean grounding aircraft,” explains Somaia. The Delta-Northwest joint collaboration is already applying such measures. Testifying to the fact, Eichelgruen of Delta explains, “We are cutting international capacity by 3-5%.... We are watching each route very carefully to ensure we are matching capacity to demand.” Surely, Delta has set its priorities right. A lot of such cuts in operations will be needed before the players get their business calculus right in order to avoid turning to the dreaded chapter 11!

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Feeling good in bad times

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Recounting McDonald’s and Horlicks’ experiences is not simply to indulge in back-slapping about past successes in the troubled economic times that we face today. The idea is to see what they did to deal with their version of ‘bad times’. While the Horlicks’ positioning ‘win’ is merely a tale of a brand combating the phenomena of its cyclical sales; and McDonald’s was only trying to tide over a global health sentiment; this time the crisis is of global confidence. Globally, as in India, brands in the auto, financial services, FMCG and consumer durables sectors particularly are reeling under the liquidity crisis that the global economy is facing. Sure, America, Japan and Europe are in more trouble than India and China. But hey, remember the bright guy who coined the smartass phrase about the world catching a cold when America so much as stifles a sneeze? Well, so here is India, suffering from the global meltdown, despite a 6-7% projected growth rate, a 300 million strong consuming class in its infancy and more than 40 million government employees having just got tonnes of money thanks to the 6th Pay Commission. But banks are refusing to lend, so consumers have less to spend; some are getting the sack, so others are holding back (from loosening their purse strings that is!); there’s too much negativity in the air, but is it all fair?

Not really! Because the slowdown is temporary and brands that play their cards well will emerge stronger when the tide subsides. Globally, recessions and slowdowns have a knack for either making or breaking a brand. Take the 1930s depression. Unlike its rival dry cereal brand Post in the US market, Kellogg’s maintained its marketing spends. Kellogg went on to dominate the dry cereal market for the next 50 years. Beer company Miller almost doubled its ad spends during the late 70s recession. Seeing them, close competitor Schlitz also increased its spend. But it was a little too late. Schlitz was a virtual nobody when markets returned to normal, while Miller had gained considerable mind and market share.

But this is not merely about ‘abnormally’ increasing advertising spends. It’s about thinking out-of-the-box and daring to dream beyond the clichés of traditional business prototypes… It’s about fresh imaginations and beliefs… and it’s about your marketing programme in its entirety, from product development, to market penetration, to new markets, to your positioning (so that your brand is in sync with the ‘bad’ times). The good news is that a connected world has ensured marketers in India are not just prepared but are already devising and implementing exigency antidotes to deal with this ‘crisis of confidence’. Sure, the dampening last quarter results did cast a gloomy shadow over Corporate India, but for some, their creative – and not necessarily expensive – marketing tactics have begun to pay off, and handsomely at that! The fighter brands seem to have taken a leaf out of Millward Brown’s Survival Tactics for Marketing during Recession – a note published and widely circulated in May 2008.

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Cashing in on optimism!

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Want to improve sales in adverse conditions? Positive tag-lines should do the trick...

Crashing stock markets with evaporating values, increasing inflation with rising prices and tight liquidity with the dreaded pink slip issuance; the world is in doldrums. The populace has been engulfed in pessimism as the financial downturn creates an unprecedented hole in its pocket. As a result, purchasing power for even daily goods has been curtailed, hurting the bottom lines of many companies. In this bleak outlook when consumer confidence is at an all time low, corporations need to think out of the box. Vulnerable, major players have come out with ‘feel good’ taglines to hold on to their audiences.

In its bid to actuate things in a positive direction, Coca-Cola has decided to replace the ‘Coke side of life,’ the company’s tag-line of the past three years, with ‘Open happiness.’ Pepsi on the other hand has come up with its new campaign, ‘Every generation refreshes the world,’ while CK has launched the ‘We are one’ campaign. Showing its innovative side, Dunkin’ Donuts has come out with the tagline “You kin’ do it”. Not staying far behind, traditional players like IKEA and Mercy too have unveiled their new feel good campaigns, ‘Embrace change’ and ‘Believe’ respectively. Players claim that the current campaigns are meant to offer encouragement and a spirit of fun during these challenging times. “‘Open Happiness,’ embraces a positive outlook. It is an invitation to open ourselves to the positive aspects, to happiness, and to the potential for a better tomorrow,” explains a Coca-Cola, India Spokesperson to 4Ps B&M.

Before coming to a point, it must be understood that whatever marketing strategies corporations adopt, the sole motive is always boosting sales. Moreover, in the current market situation players cannot afford to lose their current customer base by not being innovative. “There is plenty of evidence suggesting that the tagline when used concurrently with other aspects of the brand such as the logo, colours and other auditory & aural stimulus, is likely to impact sales,” supports Stephen Byrne, Director (Strategy), DIFFUSION. These players are technically betting big on positive psychology in order to persuade audiences. A good and positive tagline increases the brand recall, leading to prompt purchases. “All this is part of a global movement towards more emotive and less functional taglines,” adds Byrne.

Interestingly, most of these ‘feel happy’ taglines are a response to competition’s calls rather than a perceptual favour to consumers. Evidently, the customer was of course always the king, but then it’s the corporations that laugh all the way to their banks!

Ratan Lal Bhagat

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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CELEB ADS IN BIG TROUBLE?!

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Just-exited-from-Ogilvy, Creative Director, Titus Upputuru offers his take. “There are advocates in India whose daily job is to pick up stuff that they deem to be incorrect of offensive. I remember I did this ad when I was with TBWA. It was against marble excavation. I wrote a headline that said ‘Somebody please stop this guy from hitting his mother on the head repeatedly with the hammer.’ Now that was supposed to be in the context of mother earth and stuff. But a huge hullabaloo was created saying we are encouraging violence against mothers. Now isn’t that crazy? And we had no option but to stop the next lot of releases. I guess there should be a body that has better representation from the industry who have the discernment to check if the ad is really misleading.”

Ujjal Sinha, CEO of the Kolkata-based ad agency, Genesis, believes that it is more posturing than the real thing. “I would like to see who or which body has the guts to throw Big B, SRK or Sachin Tendulkar in the cooler! Does every promise that they dish out through their endorsements to attract the desired response, resonate with solid facts that can be proved? Highly unlikely.” That at least something (at long last) has been done in this “surreal area” seems to please school teacher Radha Iyer. The 30-year-old believes that it could well work as a ‘warning’ to both companies and celeb endorsers, forever doing their bindaas, irresponsible number in this space. “Hopefully, they will look before they leap,” she adds.

Are they? Will they?

As this goes into print, Sani Fresh has signed on TV star, Saakshi Tanwar as their brand ambassador; Bollywood’s new sensation, Asin [Ghajini] has been scooped up by Tata Sky and Shahid Kapur has signed the dotted line for VIP travel gear brand. Is there a brand-fit between product profile and celeb profile? Will the consumer product promise really deliver the goods… or will misleading claims, riding on red-hot celeb-endorsers, continue to blaze away? Authoritative and high profile voices have lauded this move and are of the belief that it would definitely create “transparency between all parties involved as also encourage ad agencies to get genuine clients. It would also work as an effective filter and weed out irresponsible hustlers, while protecting consumers, ad agencies, companies and celeb endorsers from getting duped.”

Rhetoric or resolve? Only time will tell… in the meantime stand by for a fresh slew of celeb endorsements with mobile number pay cheque fees! Oh, also take a close look at prisons in your friendly neighbourhood lock-up for a whole new and starry version of Jailhouse Rock!

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Doling up for the ‘big boys’!

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2008 saw a flurry of old-school public sector banks rid themselves of their staid persona and adopt a nimbler, stylish image to compete with the private and foreign players in the segment. To be fair, it all began with the largest public sector bank – State Bank of India’s conscious effort to shed its sarkari image in 2006, but the trend caught real steam in 2008 when a series of other banks joined the fray, in preparation for the introduction of BASEL II norms in early 2009. And all this to fight the big boys in the race. Campaigns that led this makeover bug were that of Canara Bank, Union Bank, IDBI and Indian Overseas Bank, among many. Canara Bank and Union Bank, in particular, did not just sport a new tagline, but also went in for a change in logo. Canara Bank’s comunication (devised by O&M) tried to drill home the message that they had changed and that too for the people they love (read: consumers). Union Bank adopted a similar strategy, yet decided to retain its brand promise – ‘Good People to Bank With.’ IDBI, however, did not change its logo, but tried to aggressively position itself in the market place to get the idea across to its consumers that it was one bank that was not just for the big boys! All in all, a year that saw PSU banks doling out crores of rupees to position themselves efficiently!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Veritell or Allzon?

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Short term challenges apart, the Verizon-Alltel merger, seems worth the wait; By Savreen Gadhoke

Honchos at Verizon Communications and Alltel Wireless could now spare some time contemplating as to what name is best suited for the entity formed by their merger. The duo earned a breather when the proposed merger, worth a sterling $28.1 billion, which was until now held back by Department of Justice (DoJ) and the Federal Communications Commission (FCC), finally got a total clearance on November 4. The deal was struggling to get past the regulatory nod since June 2008 (when Verizon made its first attempt to acquire Alltel). But was the wait worth it?

DoJ and FCC had raised objections regarding the existing roaming contracts in rural areas. Explains Declan Lonergan, VP, Consumer Research, Yankee Group, “The merger may bring down competition and raise prices in future as it will reduce the number of roaming partners, which the local carriers can tie-up with.” And therefore, FCC has granted approval to the merger only on the basis of a commitment from Verizon that it will not play around with the roaming rates in the next four years. In addition, FCC has also demanded that Verizon divests its services in as many as 100 markets that overlap with the services of Alltel, to which again Verizon has happily agreed. And why not, as post-merger, Verizon will win over the 15 million plus subscriber base of Alltel, in addition to some 70 million of its own; hence leaving behind AT&T, with a subscriber base of approximately 75 million. Adds Lonergan, “Since both carriers are CDMA-based, combining the technical infrastructure should be hassle-free.”

Certainly the wait was worth the effort as Verizon has been catapulted to the first position in the US wireless carrier space, leaving behind arch-rival and seemingly irreplaceable AT&T Wireless at the first runners up position. Not only has Verizon tremendously increased its customer base, the merger will also make it one of the top US ad spenders. Now that the deal has finally got the green signal, what takes priority with Verizon is aggressive advertising and promotion to announce to the world that Alltel is now officially a part of Verizon. Camilla Armstrong of Brand Finance says, “Verizon will have to make an extra effort to reach out to the rural areas and explain to local roaming carriers why the merger is a good business opportunity for them.”

Objections raised by FCC may have left the local carriers unhappy with the deal. Industry experts peg the entire rebranding campaign to be worth $100 million, which could last for over six months; which makes it more challenging when coupled with the 4-year clause. So in essence, the ‘breather’ isn’t going to stay for long!

Savreen Gadhoke

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Carbon ‘Black Jack’ Traders!

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As mentioned earlier, India (with a 6% market share and 930 projects in pipeline) is next only to China and contributes to about one third of the total CDM (Clean Development Mechanism, which accounts for 16.5% of the market) project base registered with UNFCCC (United Nation Framework Convention on Climate Change). In 2007, Indian companies reportedly earned $300 million by selling CERs (equivalent to one tonne of carbon dioxide) and this earning is all set to touch $3.6 billion by 2012. The carbon trading market has grown phenomenally. The global carbon market was just $11 billion in 2005; went up to $31 billion in 2006; touched $64 billion in 2007; and is thundering upwards at $96 billion as per current figures. It is in reality expected to be a trillion dollar institution by 2020.

Corporate players across the globe foresee a huge demand in the future and hence are developing environmentally conservative technologies. This will not only help them cash in on millions of dollars of future demand but will also portray them as responsible corporates. Speaking exclusively to 4Ps B&M, Tom Johnstone, President & CEO of the $8 billion behemoth SKF (the world’s largest ball bearing manufacturer), said, “Carbon credits enhance both the company’s image as well as profits,” and further added that it’s a win-win situation for both the company and the consumer.

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An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Building dreams & real(i)ty!!!

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4ps b&m talks to the man behind the omaxe dream about his perception and his growth strategies...

4Ps B&M: How do you see the current financial dynamics affecting the real estate industry?
Rohtas Goel (RG): The Real Estate market is experiencing some ups and downs. The situation for the sector looks very strained because of a combined pressure from rising input costs, escalation in inflation and rise in interest rates. However, the long-term forecasts for the sector continue to be good.

4Ps B&M: Do you think there can be more correction in the prices in times to come and why?
RG: The forces of demand and supply are the factors responsible for price correction. The clusters of small developers that have entered the industry very recently have substantially increased the supply level. However factors like inflation and costly home loans have given a setback to the demand. Hence the market has to reach an equilibrium which is only possible through a correction. But, the changes in prices wouldn’t be much because of the increasing increase in the input costs.

4Ps B&M: What are the key challenges for the industry and how can one address them?
RG: The Indian Real estate sector has emerged as one of the most dynamic sectors over the last couple of years with sustained growth. The price correction of inputs is the basic correction which will impact the overall cost of projects. Also a reduction in interest rates and check on inflation will give more purchasing power to consumers which can be diverted to the sector. Though inflation will put pressures on the purchasing power of the people, yet the high level of disposable incomes, easy availability of housing finance, and also the need for a housing unit for an individual will always remain high on priority. As a result of economic buoyancy, the developers will continue to offer projects to cater to the ever-growing demand for quality residential space.

4Ps B&M: In the recent past, formats of developments have undergone a complete change. How do you see the real estate market shaping up in the future?
RG: From our recent offerings of affordable housing and high end luxury projects, Omaxe foresees a good demand ahead. We have created a niche market for ourselves. But, the way forward is consolidation & innovation in products which can help a developer sustain himself in such dynamic market conditions. We believe that the real estate business will continue to remain a good medium for long-term investment. We are also coming up with a lot of luxurious projects in addition to existing 54 residential & commercial projects consisting of a Hotel, 24 Group Housing projects, 16 integrated townships, 14 shopping malls & commercial complexes. Nobody wants to compromise on issues related to lifestyle and housing.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The Gurus... on how they cracked the Big Idea!

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Up next is the great Leo Burnett. While he totally endorsed Bernbach’s view on “saturating oneself with product knowledge,” he took it further. “I believe in solid, in-depth interviews of people I am trying to sell to. I try to get a picture in my mind of the kind of people they are, how they plan to use the product, what motivates their purchase-pattern and triggers their interest-area?”

Burnett then moves on to reveal a fascinating secret that even intrigued the likes of David Ogilvy… a great big folder tucked away in the lower left-hand corner of his work-desk, called the corny language dossier! “It’s like this. Whenever I hear a phrase in conversation – or any place – which strikes me as being particularly apt in colourfully expressing an idea, bringing it to life or accentuating the smell of it, I quickly scribble it down and shove it in the folder. Then, about 3 or 4 times in the year, I run through all the stuff, chuck out a lot of it and retain those that seem relevant to the kind of work we’re doing. I write a memo to inform the creative group and staff about this. So my ear is always tuned for putting usual things in unusual settings/relationships that – both – get attention and aptly communicate the big, core idea. I also have another bulging file. I call it ads worth saving and it’s an on-going thing, been with me for some 25 years! I go through them too. Extremely rejuvenating, both …”

Who better to round-off this amazing tell-all discourse than the legendary David Ogilvy. What did he do to make his stuff rock? “I try and loosen up if I’ve got to write some ad or get some ideas, otherwise there is a likelihood of feeling sterile and un-inventive. Many people – and I am one of them – are more productive and fertile when they’ve had a little to drink. I find if I drink 2 or 3 Brandies or a good bottle of Claret, I am far better able to write. I’ve also found the Oxford Dictionary of Quotations, a useful start-up for ideas.”

He then warms up to present a fascinating insight. “The posture that I take when I finally close the door and have to write an ad is this: I always pretend that I am sitting beside a woman at a dinner party and she ask me for advice about which product she should buy, why and where she should buy it. So then, I write down what I would say to her! I try to make it interesting, engaging and personal – I don’t write for the crowd; rather from one human being to another in the second person, singular. And I try not to bore the woman to death by trying to make it as real and personal as possible. Incidentally, I have a theory that the best ads come from personal experience. My best ones certainly have. They have a sense of conviction, passion, validity and power of persuasion that is unquestionable…”

Right guys, got it? Thus spake the legendary gurus. Now, suitably inspired, get back to work. What? Starting problems? Oh God!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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They say fall of Wall Street giants will not have a bigger impact on Indian markets.

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They say fall of Wall Street giants will not have a bigger impact on Indian markets. But with a sectorial review things may sound different, says Sunanda Roy

A humorous Internet one liner says, “Evening news is where they begin with ‘Good evening’, and then proceed to tell you why it isn’t”. Well, see any edition of any business news these days and you would get to know how true it is. Moreover, down on its knees the global financial market is providing them more than enough events to further validate the hypothesis mentioned above. Back home in India the domestic stock market too is leaving no stones unturned to help the news channels. But then, blame the modern era of highly integrated financial markets for this, which have ensured a negative impact of the US turmoil on the Indian stock market. Fall of the Wall Street giants, Lehman Brothers, Merrill Lynch and AIG – as if they are exemplifying what the ‘Domino effect’ is all about – quashed whatever little confidence investors were left with after the mayhem that they witnessed earlier this year. But the million dollar question is, did it actually impact India enough to draw a prolonged red line on the Dalal Street? Perhaps, that’s the priceless answer all investors are looking for at the moment.

So far, the overall reaction is quite soft – nobody has predicted any long term harassment on the Indian capital markets. Going by the words of Sandeep Nayak, Senior VP & Head – PCG dealing, Kotak Securities, “The Indian stock market will suffer from the contagion effect of the global crisis and move in tandem with the American markets for the short term.”

But then, how can one forget that the Indian stock market is still a slave to Foreign Institutional Investors (FIIs). They have always reacted to FII movements, be it when they have pumped in money or when they have sucked out. And currently, the global financial crisis has made them take a flight back from risky emerging assets (equities and commodities) to safe havens like the US treasuries and bullions. Pankaj Pandey, Head of Equity Research, ICICIdirect.com avers, “As Indian markets are too FII sensitive, this pullout, as already seen, will continue to suck out liquidity from the Indian stock markets. This year itself, FIIs have pulled out close to $8 billion from the equity markets and since then the Sensex has corrected by 30%. Hence, one can asses the impact of FII liquidly in the markets.” FII pull out will not only keep the downward pressure intact on the bourses, it will also keep them volatile. Chances of volatility being persistent also increases manifold owing to relatively low volumes, bad market depth and breadth and distress selling by retail investors. It’s simply for the fact that absence of foreign money will see the market trade range bound along with some nibbling done by the domestic insurance and asset management companies.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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It is not easy...

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Mahesh Chauhan,
President, Rediffusion

“It is not easy...”

“It’s not easy for a client to change his agency. He makes a certain investment in an agency and change means that he’d have to invest all over again in a new agency. It’s not easy. So, unless there is a strong cause for a change, led by maybe non-delivery or non-performance, the client will not change his agency. But on the other hand, the CMO is no longer under 1-5 year time cycles. He is virtually evaluated on a 1-3 months performance. The pressure is humongous. If an agency partner is not up to that speed then the CMO has no option but to look at other more promising agencies.

If you were to flip this argument and look at it from an agency point of view, I genuinely believe that the agency game hasn’t really evolved here. We have virtually become vendors of the creative product which is mainstream, traditional and not really hi-tech. Clients come to me for TV, print, radio, outdoor and go to somebody else for digital solutions. This de-bundling and media fragmentation, led to fragmentation of agency products too, which led to a lowering of the agency value, from a client point of view. So if the client is not ascribing so much of importance to you, as compared to a holistic communication consultant (as in the past), the threshold is lowered - agencies themselves have lowered it. Therefore you see that there are more pitches happening today than ever before, from a purely statistical point of view. But, the savvy marketer still believes in – and maintains a longer term perspective of his relationship with the agency.“

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Monojit Lahiri attempts a peep into male-zone to investigate the accuracy behind the projections and portrayals of this creature in today’s ad space

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Hey c’mon guys, everybody – and that includes screaming, fire-eating libbers and their docile, quaint, demented toothless aunts – has opinions about how women are portrayed in today’s advertising, right? What about ‘MEN’ … what’s their scene? Is the poor sucker also taken to the cleaners by a militant mob or the portrayals, generally perceived as realistic, honest and true-to-life?

Ad person Moon Moon Dhar believes the latter and for good reasons. “There is a sea change when you compare today’s guys with those of the last generation. The perspectives, mindsets and attitudes of my father, husband [and hopefully] my son are worlds apart! I think this has been captured, with reasonable accuracy, by today’s ad people. There actually exists avatars of the man-boy, spoilt brat, goof-nerd-dumbo, caring type, Mr. Responsible, the sexy hunk, the stylish dude… the range and bandwidth is there reflecting the gradual evolution of the male. The Dharmendra-type has been replaced by the sensitive, caring sort … and it shows.” Journo Sapna Khanna agrees. She believes that stereotypes cannot – be it Bollywood or Advertising – disappear or be wished away overnight. After all it is tried – and – tested seduction in the public space designed to single-mindedly trigger the purchase intent and therefore needs all the artillery [read: masala!] it can get. “However, within that framework, most of the recent male-centric ads appear spot-on. The era of the MCP’s and overbearing louts are over. Today’s males are sensitive, caring and involved with family matters. They take pride in sharing space in the kitchen, PTA’s and children’s functions at school. The boundaries are blurring.” She cites her own example where her boyfriend of six years is “today my husband of 16 years!”

Gorgeous theatre activist Lushin Dubey, however, begs to differ. She believes that today’s advertising sexily, glamorously, stylishly – with all the techno gizmos available at their disposal – pirouettes, preens and postures but doesn’t even begin to portray the real thing. And what is this real thing, Maam? “The simple fact that today’s men are schizos! They are struggling to find their space, define themselves, discover where they are coming from and where they want to go … in short, figure out who they really are or want to be!” She believes that today’s guys are trapped between yesterday and tomorrow and don’t quite know how to react. The advertising, hence, is superficial because if one were to scratch the glam surface, all the smart poses and pretentious, confused emoting would disappear revealing the real laadla, spoilt, mama’s boy. “This genre of advertising appears to concentrate more on entertainment than truth! Agreed not all of it is hogwash but its like Bollywood – heavy sugarcoating of the message!”

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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B&O Beovision 9

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Technical Specification

Screen Size – 50 inch; Resolution – 1366x768; Dimensions (WxHxD) – 127x122.9x56.9
PRICE: Rs.15,00,000 without taxes
WARRANTY: 2 years

Run by the fastest engine in the world, B&O Beovision 9 is a total entertainment solution with high quality. The in-built Hard Disk recorder serves as a unique feature that allows to play, pause, record and replays the pictures. The automatic colour management has the feature of adjusting the set once every 120 hours of viewing. It possesses a contrast ratio of 3000:1. The Beovision 9 is available in six different colours. Talking about the sound system, it has surround sound system with centre loudspeaker with power amplifiers of 2x250 watts. It also has 4xHDMI and 2 USB ports, allows wide range of sources and devices, optional beomedia technology.

Marketers’ delight: B&O Beovision gives you the pleasure of enjoying the best quality and standards of picture along with complete home theatre benefits.

Tester’s note: Pros – Automatic colour management. Excellent sound quality and sleek design. Con – Comes in the extreme high-price range.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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You, me, and... a lotta debt!

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Religare’s takeover of Hichens leaves many questions unanswered...

Before we break the suspense, let’s give the usual spin. London’s oldest stock broking firm has accepted an open offer from Ranbaxy’s Religare Capital Markets Ltd. (RCML), which will pay Rs. 226.05 per share, valuing Hichens, Harrison & Co. Plc at Rs.4.4 billion. “Our businesses are complementary and this will help both leverage the expertise, acumen and capabilities of the other,” averred S. Godhwani, MD, Religare Enterprises (parent company of RCML), to B&E. Hichens surely has a strong hold in emerging markets and on the face of it, the deal seems appropriate for increasing Religare’s global presence. Well, on the face of it...

Of course, the deal will not only increase the portfolio of investment products that Religare will be able to offer domestically (apart from the global capital that can be sourced by it cheaply), but it would also give Religare the opportunity of “creating a global distribution platform,” as told by S. Nath, Director, RCML.

But experts are perhaps ignoring a few critical facets. Crisil has already put Religare’s short term debt program on ‘Rating Watch – Negative Implications’, due to the debt it’ll have to mobilise for the deal. Secondly, Religare Enterprises, the holding concern, as per late 2007 figures, only has a 3.89% of the Rs.4 billion Indian financial services sector, clearly pointing that it could well have invested in increasing domestic shares first. And lastly, though share prices post the April 5th deal, have remained more or less constant (Rs.370 avg, BSE), trading volumes have most strangely gone down from a high of 92,944 traded shares (March 25, 2008) to a classic low of 5,460 shares (April 11, 2008), displaying a clear negative trend. Without doubt, the most imperative measure for Religare is nothing but managing cash...and a lotta debt!

Pawan Chabra

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Recession seems to be imminent in the US. Its length & severity now need to be judged by policy makers so that they may attempt to minimise the damage

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Is it a ‘Recession or a Slowdown’ in the land of Uncle Sam? The debate rages on in earnest. Leave aside the fact that the National Bureau of Economic Research (NBER) defines recession as “a significant decline in activity spread across the economy, lasting more than a few months, visible in industrial production, employment, real income and wholesale-retail trade…” What matters the most is the fact that the US is suffering from one of the worst housing and financial crises in living memory. The ongoing crisis may not adhere to the definition as given by NBER; yet the outlook for US economic growth, employment figures et al has worsened in the last couple of months and the possibility of a recession cannot be ruled out. The financial market crisis, which erupted in August 2007, is worrying one and all.

The analogy drawn, however, has been debated by economists and analysts alike. Is the economy in a short-lived, cyclical recession or will there be a capitalist economic crash? As it is, the devastating 1929 stock market crash leading to the Great Depression of the 1930s silenced similar debates at that time.

The International Monetary Fund (IMF), though not very vocal of the present developments in the US (as it was during the East Asian Crisis), has said in its recently published World Economic Outlook, “The financial market crisis that erupted in August 2007 has developed into the largest financial shock since the Great Depression, inflicting heavy damage on markets and institutions at the core of the financial system.” It further estimates that the total losses for banks, hedge funds, pension funds, insurance companies and sovereign wealth funds arising out of the crisis will swell to $945 billion. Even the estimates have been a point of debate; some argue that it is pretty much an accurate estimate of the loan losses while others argue that the estimates do not in any way reflect possible decline in the quality of the loans that they hold.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM - Admission Procedure
IIPM, GURGAON
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BERNARD ARNOLD - Defining luxury

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BERNARD ARNOLD
Defining luxury
LVMH is one of the earliest brand that came to India and slowly, the brand has become a recognised brand among the Indian premium class. The credit should not be only given to the chairman and CEO Bernard Arnold because as far as my knowledge about LVMH goes, there is immense teamwork there. But yes, if the leader is not competent enough and fails to guide his team, then no team, especially in business, can grow. I think the Chairman knows how to identify the market and then make a proper team for that market. He identified India & China much before any other players did and then supported the markets with a good team.

Today LVMH has an edge over the other luxury brands. To speak about the future, we all know India is an emerging market for all luxury brand and the early movers will necessarily be the winners. In this parameter LVMH will be one of the few players which will able to make profits from India. This definitely means that Bernard Arnold has big plans for India and the way LVMH is expanding, at least one of its brands will be present in every city of India. I feel, Arnold and his team will have the maximum retail presence and maximum brands in Indian market. He has successfully integrated various famous classical brands into the LVMH umbrella and he knows the perfect time to introduce them in Asia Pacific. The success of LVMH will motivate other luxury companies to come to India and this in turn will help India shine in the century in context of luxury goods too.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM - Admission Procedure
IIPM, GURGAON
IIPM : EXECUTIVE EDUCATION
IIPM’s 36th Glorious Year of Academic Excellence
IIPM Ranked No. 1 B-School In Global Exposre - Zee...
4Ps Power Brand Awards 2007
When IIPM comes to education, never compromise
IIPM is A World of Career
Why Study Abroad When IIPM Gives You 3 global Advantages!
IIPM Ranked No. 1 B-School In Global Exposre - Zee...