"Efforts can't be nullified"
"With me, before flying, learn to crawl"
"With me, before flying, learn to crawl"
Marketing Context
We've to identify select ways in which the context has changed.
Pre-Liberalisation before 1991, here onwards referred to as 'yesterday'
Post-Liberalisation after 1991, her onwards referred to as 'today'
Post liberalisation in 1991, there was Brand Explosion in India. 1978 Flying Machine was launched in India, which were the times when people would have their relatives get them a pair of Levi's and that which would be strutted around quite proudly. It was also the time when denim could be bought and then tailor fit, who would then affix a Levi's tag which could either be fake or original and there would be an obvious price difference between them.
Today's 146 V/S Yesterday's 4 the competition has opened up and there are plethora of brands vying for the same piece of pie. You name and they're there in India.
Even IIMC until yesterday was the lone C- School, Mudra was launched in 1991 and there has been a burgeoning of C-Schools in India ever since then. S.P jain and Indore University did offer Advertising Communication Management much prior, this has also seen a tremendous increase ever since then.
Today's market is 'choice driven' and we're slowly if not already headed to consumerism, may be not to an extent in the west like that of U.S, U.K, Europe but that is because we're still a developing country unlike the west.
As blasphemous as it sounds, Maruti 800 was a luxury yesterday. Markets have changed. There was no concept of a booked price, you'd invariably have to pay up more even though you had booked the car a good 8-9 months prior. There also was no question of a test drive. In some cases according to the availability of colour you'd have to be contend with the color that you begot. Manufacturers were ruling the roost. Things that are unimaginable in today's market scenario.
In today's scenario, if you as much as show a slight interest in a car, you'd be on the receiving end of a phone call from at least 3 people, amongst whom, one would ask you about the want of a car loan (bankers), another asking where the car need to be sent for you to test drive the said car (car dealers). Life has truly changed, it is the consumer who drives the demand and thus the market.
"When costumer believes, consumer is always right"
Intensity of competition is enormous because they're catering to the same consumer. Competetion will only increase from here onwards. You've to be the first choice. Period.
"Different Era - Different Mindsets - Different Market but The Product Remains The Same"
In India, brand mortality rate is a staggering 98%.
With the invasion of skies in 1991, meaning satellite channels that every household could access to was enormous. Single theatres which were until then playing a maximum of 4-5 shows a day gave way to multiplexes which show anywhere between 24 - 32 shows a day. PVR a chain of multiplexes in India have 350 screens across 66 cities in India.
India is Product Parity Market, if you've to survive then you've to be the first among equals with you being on par with your competition being a given. We've gotten to stage where there is no Unique Selling Product anymore but Extra Value Proposition. EVP is a term wherein the the quality of the said product is 'thought' to be better.
Intangible Differentiation can be brought out by communications alone. You'll have to be perceivably better than the pack. Brands in India fall only for a lack of communicating their intangible differentiation.
"Challenge is in creating a difference within this PPM"
"You've to compare Apples with Apples alone, otherwise it's unfair"
"If you say ' I also' then you become a 'me too'"
Over a period of time if you're EVP is strong enough it'll manifest itself as a USP. All EVP's are USP but USP are not EVP.
As a market, India has moved from Price Sensitive to Value Conscious. The one question that the brands need to answer is, "It is worth it?"
"Business Objective is to Maximise Profit"
"Checking it out is 'not' buying"
"Indian customers are the most disloyal in the world."
"What matters is always the mind of the customer" It is a given that we'll always work in a competetive domain.
Brands have their own Strengths and Limitations. A brand has to stand on it's own strength and merits.
Industry
|
Category - Brands
|
Segments - Brands
In the auto industry, the industry is segmented with respect two main criteria Engine Capacity and Price and it is directly proportional. Meaning higher the CC then invariably the price of the car would also go higher.
Even buying patterns have changed, it isn't linear anymore, people jump segments when buying cars. People don't always upgrade according to the accepted norms of segments. Consumer is anyone who buys and uses the product.
Consumer play 4 roles
- Influencer
- Purchaser
- Decision Maker
- User
Higher the Involvement - Higher the Price - Higher Interest it invariably means a joint decision. Meaning it becomes a 'family decision'.
Turn Around Time (TAT) is an important way of doing business, longer your turn around time, the faster you'll be bleeding. Time is money.
Marketing Planning
-> Marketing Strategy
-> Promotional Strategy
-> Communication Strategy
-> Advertising Strategy
Industry Context
Environment Analysis
-> Marketing Overview
-> Government Policies
Market Size
Major Players --> Their performance.
Growth Trends --> Reasons for the same.
--> (in terms of) Value and Volume Terms
No comments:
Post a Comment