Dalmia Consumer Care (DCC) launched the ''knowledge platform''
in Mumbai with the first session addressed by renowned
marketing authority, Prof Jagdish Seth, Charles H. Kelistadt
Professor of Marketing at Emory University, on ''The New
Frontiers in Brand Building.''
Seth addressed a select gathering on the new frontiers
of marketing, growth strategies and their impact on
brand building, and providing tactical options of organic
growth as well as acquisitions. He also spoke on the
implications of brand building including brand integration,
brand creation and umbrella branding.
the session on ''New Paradigms of Marketing,'' Prof Seth
spoke on the 4 ''a''s of marketing acceptability,
affordability, accessibility and awareness.
to Prof Seth marketing today has more to do with what
customers actually require rather than the product-centric
world that companies think they require. "The consumers''
is gaining power. There is excess supply and it has
become the buyer''s market."
change is due to three things the end of the
license-raj, which gave people choices among goods;
the entry of outside competition and; the emergence
of retailer as a powerful entity unlike when companies
could dictate terms to them.
to Prof Seth, in this context, the last ''a'' - awareness
becomes very important as companies need to make the
consumers aware. "For that, mere reliance on advertising
is not sufficient. There is a need for an integrated
approach using alternative media."
the present scenario, he said, Indian companies needed
to ascend the value scale. Citing the example of the
IT sector in India, he pointed out that the combined
strength of the top Indian IT companies was minuscule
compared to that of giants like IBM and Microsoft. He
said that though the Indian IT sector had scored well
in the first step of sending competent people abroad
at lower costs, the next step would be difficult, because
Indian software companies had neither scaled up their
competencies in the value chain nor had the investing
next step for Indian companies is to create software
products which would open up huge opportunities and
should be challenging for IT companies," he said.
Companies like Wipro, he added, should acquire second-tier
companies in the country because companies had to be
strong on their home turf since foreign companies would
make a beeline for the country, sooner or later. "Companies
themselves should decide the sectors that they have
to be present in. It''s already happening in banks and
the cellular industry and a fragmented domestic market
gives foreign companies an advantage," Prof Seth
on the backlash on outsourcing in the US he said this
was happening because the western countries still retained
a colonial mindset and felt that only low end jobs were
meant for the developing nations. Having spent close
to quarter century teaching in institutes like Massachusetts
Institute of Technology, University of Illinois and
Columbia University, he said, he understood their colonial
problem, he said, was that the US economy was growing
but was not creating enough jobs. "Job creation
is important as the economy grows," he emphasised.