The first plenary session of Day 3 was presided by Mr. Rajendra Nargundkar, Professor, IIM Indore. The topic of discussion was Thoughts on Advancing Marketing Theory and Practice.
He shared his views on how faculties, academicians and researchers can improve and elevate the level of marketing by various steps. The first one he talked about was networking. He urged the audience to visit a new business school each year, attend conferences and meet new intellectuals from time to time. He also elucidated how important it is to write and publish conceptual papers regularly. He shared how at IIM Indore, where he teaches, 50% of the compensation is dependent on their publications and researches. He commended to write at least one conceptual paper that extends theory by adding variables or constructs to existing ones by using marketing orientation and marketing innovation.
Marketing suffers from a lack of theory development. Initiated or published conceptual papers are few. He also pressed on writing a book to develop contextual theories and cases. He shared that he finds it pleasant how we have started using books written by Indian authors in our courses. Ultimately, he wants us to become thought leaders in our fields, which is an ardent toil, but also a pursuit worthwhile to follow.
He explained how thought leaders predict the future and see what others can’t. He ended his session by discussing a few topics that are very debatable and researchable in marketing. The topics he shared are “Why people buy”, Demographics, Leisure spends, Online v/s offline buying, Malls, etc.
Track Session 5A:
The Chairperson for this session on Measurement in Management was Professor Rajesh Jain. A total of eight papers were presented during this session. The speakers spoke about the various studies and research conducted by them and related it to the marketing and operating concepts. The studies were based on quality management, consumer awareness about health foods, happiness report, role of market research, etc.
Track Session 5B:
The Chairperson for this session on Holistic Marketing Concepts was Professor P.K Yadav. A total of eight papers were presented during this session. The speakers talked about a wide variety of topics such as artificial intelligence, B2B marketing strategies and customer satisfaction, healthcare financing, marketing in SME’s and influence of eWOM in online hotel bookings.
Track Session 5C:
The Chairperson for this session on Holistic Marketing Concepts was Professor Harismita Trivedi. A total of seven papers were presented during this session. The speakers talked about concepts like neuromarketing, internal marketing and digital marketing. They explained these concepts through the means of various case studies- Adidas, Tarla Dalal, etc. – and research conducted by them.
Track Session 5D:
The Chairperson for this session on Contemporary Issues in Marketing was Professor Reena Shah. A total of seven papers were presented during this session. The speakers talked about various contemporary issues in marketing like developing marketable content in Bollywood, motivation for solo leisure travel, sustainable tourism, effect of children on advertisements, travel blogging to improve sales, etc.
Track Session 5E:
The Chairperson for this session on Social and Service Marketing was Professor Chetan Jhaveri. A total of eight papers were presented during this session. The speakers talked on the topics like Swachh Bharat Abhiyaan in Gujarat, role of ICT policy for community development, emotional impact of sales promotion, marketing communication campaign and application of service quality models in primary health centres.
Track Session 5F:
The Chairperson for this session on Emerging Issues in Marketing was Professor Deepak Shrivastav. A total of six papers were presented during this session. The speakers talked on the topics like inbound marketing, emergence and evolution of marketing, marketing and licensing opportunities in unchartered markets, bureaucracy and challenges faced for organizational change, fostering entrepreneurship and strategic thinking using gamification as a tool, etc.
The Valedictory Session started at 12:30 PM. Amongst the dignitaries, were present were Mr. Saurabh Pandey as the chief guest, Mr. K.K.Patel, the Vice Present of Nirma University, Prof. Tripura Sundari Joshi, Dr. M. Mallikarjun, Mr. D.P. Chhaya and Dr. Sapna Parashar. Prof. Jayesh Aagja of the Institute of Management, Nirma University began the session by giving a brief report of the Conference.
The best paper awards were then announced. The 1st prize in the Academic and Industry Category was awarded to Dr. Gaurav Mishra and Prof. Balakrishnan Unny Raghavan. The 2nd prize in this category was awarded to Dr. Vivek Bhatt and Prof. Shriman Kadiya. The 1st prize in the Student Category was awarded to Mr. Jayendra Bharati and Dr. R. Srikant. The 2nd prize was awarded to Navaneethakrishnan K. and Prof. Sathish A.S.
The chief guest, Mr. Saurabh Pandey, Founder and CEO, Dot Converse Social Media and Online Marketing. He had taken up the topic of Viral Marketing for the discussion. He said that word of mouth is a more powerful tool than brand advertising. People who buy a product because of the positive word of mouth it has, tend to stay longer with it. The challenge that a brand faces is the decay of trust with time. If the media is already proliferated and all marketers decide to spend on it, they add to the clutter and end up decreasing their presence. This decreases consumer retention. They should try to create a model that is different from the rest. They should advertise across different categories. Viral marketing, he said, is a marketing technique whereby information about a company’s goods or services is passed electronically from one Internet user to another. People get connected emotionally with anything that goes viral. Any content that is high on arousal and dominance is received well by the people. A more positive content gets more viral than the one with negative content. The negatives get shared only when there is a surprise element hidden in the content. Social media, he added, is a very powerful tool for marketing, these days.
Dr. Sapna Parashar then presented the vote of thanks. The guests, the presenters, the faculty colleagues and students were thanked for their contributions that made NICOM 2017 a grand success.