Utkrishta 2018, the Management Conclave of Institute of Management, Nirma University, was organized by four prominent clubs of IMNU: Niche – the Marketing Club, Imprintz – the HR Club, Optimus – the Operations Club and Finesse – the Finance Club. The conclave, scheduled for two days, 9th-10th August 2018, began at 9:15 am on 9th August with the theme “Contemporary Business Management Practices: Opportunities and Challenges”.
The industry is undergoing numerous changes and these changes don’t take place in silos. As prospective managers, it is important that the students are well versed with changes in the highly dynamic corporate environment. Thus, the conclave sought to acquaint students with the ever evolving cultures in the aforementioned domains.
The inaugural address was given by Mr. Sameer Desai, Chief Strategy Officer, Brand Launch Centre & CEO, Seagull Branding & Advertising Services. He made us rethink what business brands are really in. He talked about three core questions in brand building: ‘What is the obvious truth that your brand is based on?’, ‘How many prosumers do you really need?’, ‘Does your brand have an idea that the prosumer will champion?’. He highlighted the role of word-of-mouth in advertising. Mr. Desai said, “Products have rationals, brands have emotions.” He also described how advertising has changed in the 21st century and how packaging, pricing, purchase experience, people policy and profit policy play an important role in contemporary advertising.
Post the inaugural address, the enthusiastic students geared up for the second session. Mr. Narayanan K. S., Independent Advisor in the Food and Beverages Industry, then began the session on the tone set by Mr. Sameer Desai. He spoke on the theme of ‘Food Services: B2B Marketing’. He said that the challenge of de-commoditization consists of transforming the focus of an organization from the ‘Best product, Lowest Price’ to ‘Total Customer Solutions’. He introduced a concept of ‘7 Genes’ (empathy, epicurean, diversity, life scars, free spirit, intuitive, inner fire) in the food service industry, wherein businesses put themselves in the shoes of the customers to understand their perspective. He demonstrated through contemporary examples of FMCG food products, restaurants and hotels how it is important to engage and amplify.
Commencing the next session, Mr. K Aayush Mazumdar, CMO at MeraEvents spoke about the History, Present and Future of Marketing. He began by exploring the origins and definition of marketing. He said that marketing is everywhere, therefore, everyone is a marketer. He explained how marketing has evolved over the years into digital media marketing yet remains true to the core theories. He highlighted the importance of marketing measurement, analytics, decision making, and prediction in defining the success of any company. While he introduced new concepts like ‘Attribution – The New A in Marketing’, and how marketing is math, art, music, literature, psychology, and chemistry combined, he went on to say that the fundamentals of marketing like Porter’s 5 Forces and Maslow’s Need Hierarchy have not changed.
With this, the marketing area sessions came to an end.
This article is contributed by Priya Thacker & Ipshita Paul –
Picture Courtesy: Pratikriti- The Photography Club