Professional Documents
Culture Documents
MARKMANTRA | SEPTEMBER
BW
BRANDWAGON
MARKMANTRA | SEPTEMBER
Editor’s Note
Dear Readers, Singapore to operate its business in India.
We are launching our first ever competition
I am pleased to release the 4th issue of through MarkMantra, To see the creativity side
MarkMantra. Issue after issue me and my teamof all the marketing enthusiasts we are inviting
have been working hard to make this magazineprint-ads for KOOVS. The two best entries will
better and better. With the help of new editing
take home certificates and cash prizes.
team we feel much more equipped and confident
Special thanks to Archana for her enriching
to deliver better. article on Branding of Educaton. As an ending
This issue is close to our heart since we had
note, we are listing down all the recent product
done few major changes. We have incorporatedlaunches in our special column LAUNCHPAD.
new columns to enrich the understanding of I hope you will thoroughly enjoy this issue with
few concepts which are not that easily available
its rich content.
elsewhere.
Vikram and Snehal have come up with an Happy Reading,
interesting article on T24 the buzz word these Praveen Kumar G
days in the telecom and retail industry. They will
tell us what T24 is all about.
International marketing is very important a EDITING TEAM
concept to know. Time has gone where domestic
Managing Editor
players used to focus on domestic markets, now
domestic players are exploring international Naveen Gupta
markets to survive domestically. With such an
environment around us, International Marketing
is truly of great importance. Hence, we have Associate Editors
introduced a new column on International
Arvind yadav
Marketing which will deal with the strategy used
by various MNCs to market their products and Gaurav Gudka
services internationally.
I am thankful to Mr. Vivek Gupta for his precious Radhika Ravichandran
time giving us his interview and sharing with us
his experiences. Vivek, the Managing Director Vipul Saini
of a online shopping portal called KOOVS has
explained what it takes for a firm set-up in
MARKMANTRA | SEPTEMBER
CONTENTS
Banking on Marketing 4
International Marketing 8
Corporate Interview 13
Print-Ad Competition 15
Special Article 16
Launchpad 18
MARKMANTRA | SEPTEMBER
Banking on Marketing
Are Banks Customer Friendly? Do Banks attract customers ?
H
Do Banking services talked about ?
ow often have we walked into walking hand-in-hand with the customers
the bank feeling that it’s a chore and understanding their concerns. Given
to be completed and gotten over the financial crisis the world has gone
with at the earliest? Banks aren’t really through, nothing can substitute an element
places that attract you the way perhaps of trust in the mind of the customer about
shopping malls do, through it’s a common the bank’s advisory services offering a
thread of money running through it all. wide gamut of financial products.
Money needs no marketing; it’s perhaps
one thing that is inherently designed Despite what many believe, a bank’s true
to attract people.
However, investment
options for money need
their share of attention-
grabbing approaches
and we see banks often
portraying the same in
the media. Banks are
trying to build valuable
brand images with consumer-oriented brand value isn’t about its logo, tagline
advertising and distinct product lines. or its glossy financial products brochure.
Banks can no longer be order-takers, Instead, a bank’s genuine potential is
which was the characteristic of the old reflected through multiple components, all
banking industry. Today, banking across of them necessary - including customer
all segments of people – be it rich or poor, interactions, employee communications
urban or rural – first and foremost requires and corporate philosophy, and not just
MARKMANTRA | SEPTEMBER
advertising and marketing efforts. Banks brand their bank as an experience bank,
cannot merely show flashy advertisements when asked by management to double
on T.V or print self-congratulatory full the number of retail customers. As you
page ads in the national newspapers enter its branch office, you encounter the
bragging about the number of branches smiling face of a Jyske advisor standing
and get away with it.True marketing for behind a PC monitor on a countertop.
a bank happens when a customer steps This area is called the AskBar. In a Jyske
into a bank. The ambience at the bank, branch practically everything is called a
the tone of the bank employee and “Bar.” Even the till has been renamed the
their willingness to listen, the level of MoneyBar. At the AskBar you can get an
assistance offered, the speed at which orientation either from the bank advisor
the transaction is executed without any or from a short video. Or you can just
unnecessary obstacles – all this goes a proceed into the rest of the bank, at the
long way in creating an experience which centre of which is the aforementioned and
the customer will either appreciate or seemingly essential CoffeeBar, where
never want to relive. they serve some very fine coffee for free.
In the world of banking, Jyske Bank brings There, from the big plasma screen, you
in a difference. Jyske Bank, Denmark’s can watch the news (via RSS feeds from
third largest financial institution, invested various prominent newspapers around
400 million Danish kroner (equivalent to the world), weather reports, and so on,
54m euro or 72m USD) to redesign and while you help yourself to the coffee.
MARKMANTRA | SEPTEMBER
Another integral part of the new Jyske Jyske not only managed to double its
“bank of the future” is something called base, it also managed to get so much
the Theme Island. This is where you pick free press for its efforts that the bank’s
up “packages” that describe the bank’s awareness skyrocketed.
“products.” Jyske has made an attempt
to make its products physical by putting Banks in India still have a long way to
them into boxes like software boxes or go to creating a memorable experience
DVD boxes, to make intangible and often for the customer that matches up to the
complicated things like investment options kind of experience a fine hospitality set-
easy to understand and interesting to buy. up like Jyske Bank would offer. However,
there is always the scope of creating
Anyone can walk into the bank, just like an environment that encourages the
they would into a coffee shop, read papers, employees to be truly concerned about
hang around and maybe even check out the customers. The banking industry does
some new products and services the not have many points of differentiation
bank offers. The packaged products have because the nature of product offerings
a barcode that you scan on specially is more or less similar. But they can
designed computers which will then show differentiate by providing high quality
you a small movie about the product and service which in turn will lead to customer
what it has to offer. The conference rooms satisfaction.
in Jyske Bank branches also feature huge
wall-mounted plasma monitors. These The banking sector has a huge role to
are touch-screen controlled. Customers play in safeguarding the prospects for
can stroll into a conference room with economic development across the globe.
coffee in hand, and a bank advisor can Financial awareness in India is still in its
show them video presentations or use the infancy where the masses are concerned.
touch screen to help them calculate what People still need to understand the basics
their mortgage payments might be, for of financial planning and how best they
example. Jyske Bank is a bank, a store, can create, manage and sustain wealth.
and a modern library. It is the place where Banks have a very important role to play
customers become smarter, inspired, and in the new India that is growing at a
experience a straightforward atmosphere. pace which was never seen before. The
MARKMANTRA | SEPTEMBER
need of the hour is to go beyond merely
selling depository services and financial
products. It’s not really about selling,
it’s about creating value. If marketing in
banks comes up to this, the day isn’t far
when banking will become an enjoyable
experience for the customers and the Tryvertising:
ambience in the banks will begin reflecting It is a term actually used to make the
a warm and welcoming environment. consumers familiar about the product be-
Going the extra mile is what is ultimately fore they actually buy it by actually mak-
going to bring the customer back again ing them try the products. It is actually a
and again, something that even the best new breed of product placement in the
of brand taglines can never do. real world, integrating the goods and ser-
vices into daily life in a relavant way. In
Wriiten By this way the customers can actually make
up their minds based on the experience,
Mehak Gandhi not on messages.
MBA IB (09-11)
Indian Institute of Foreign Trade
Product Placement:
Is also sometimes known as embedded
marketing, where the products are con-
texually placed in movies, television seri-
als or news. This method is very effec-
tive as it is able to make a “emotional
connect“ and better dovetailing with the
relevant content.
MARKMANTRA | SEPTEMBER
International Marketing
MARKMANTRA | SEPTEMBER
Written by
Arvind Yadav
MBA IB (10-12)
Indian Institute of Foreign Trade
MARKMANTRA | SEPTEMBER
I t is rule of game called “Treasure hunt” that if you are not finding the hidden
treasure then either search for new locations in the vicinity or expand the vicin-
ity. Something similar is happening nowadays in the telecom industry. They are
now crossing the telecom domains by aligning themselves with other sectors or by
establishing themselves in new geographic locations in search of revenues. Earlier,
ARPU was very dominant factor for telecom industry but it is not the exact measure
of profitability. But now telcos have realized it is not only about the ARPU but the
minutes of usage i.e. time for which subscriber is using the network. More the net-
work is used, more the revenue is being generated by the operator. The importance
of co-branding is reiterated with the latest developments in the Telecom industry.
Written by | Vikram Singh | Snehal Gajbhiye | Symbiosis Institute of Telecom
Management
MARKMANTRA | SEPTEMBER
Telecom in Retail to talk more or talk more and buy more.
It is well known fact that consumer ac- This concept is similar to petro cards in
quisition cost is much more than retention early 2000s which was joint effort of pe-
cost and hence Telco’s are also looking troleum and credit card companies like
for different innovative and loyalty based HPCL-ICICI Bank credit card and IOC-
programs to retain their customers. This Citibank credit card where customer is
may prove to be a better technique in- getting exemption from the surcharge
stead of using all your money for market- imposed on fuel, 15% discount on pollu-
ing, branding and advertising as telecom tion under control check, 5% discounts on
industry enjoys one of the most lowest Exide batteries, MRF tyres. Future group
customer retention rates. Tata Teleser- is also giving a thought to have collabo-
vices is among the very first operators ration with fuel companies, free electric-
to enter into a strategic alliance with Fu- ity offer for those who have purchased
ture group to bring about a new marketing
PRINT-AD Competition
Design a print ad for the promotion of Koovs. To know more about Koovs, please refer to the
interview of MD Koovs published in this edition. For further detail visit at koovs.com.
Prizes
The top two entries would receive certificate of appreciation and prizes worth Rs 500 each.
Rules
1. The maximum number of members in a Team may be two.
2. Please send your entries with subject line as well as document name as
<Koovs>_<TeamName>_<Institute name> to markmantra.iift@gmail.com.
3. The last date of receiving all the entries is 25th October 2010.
4. The entries would be judged by the IIFT professors and the shortlisted entries would be sent
to Koovs MD for final decision.
MARKMANTRA | SEPTEMBER
Product
Lauchpad
Product 1
Product 2
Benz, Smart and Maybach vehicles.
Company Name: Virgin Group, UK
New Product: Brabus iBusiness Sedan Sector: Telecom, Aeronautics
The latest products from Apple, New
Product: Brabus iBusiness Sedan Company Profile: Virgin Group Limited
The latest products from Apple, including is a British branded venture capital
the iPad, have all been integrated into conglomerate organisation founded
a Mercedes-Benz S-Class to create by business tycoon Richard Branson.
the Brabus iBusiness. Not only does it The core business areas are travel,
promise to be exciting to drive, but the entertainment and lifestyle.
rear passenger compartment is fitted with
enough tech to make an Apple junkie’s
MARKMANTRA | SEPTEMBER
Product III
Company Name: TATA Teleservices TATA DOCOMO’s recently announced,
Sector: Telecom unique, industry first, m-Comics, enables
Company Profile:
consumers to read full comics on mobile
Tata Teleservices
along with special effects like character
Limited is one of
vibration, sounds, zooming text bubbles.
India’s leading
at a nominal rate of Rs 15/- per comic
private telecom
chapter.
MARKMANTRA | SEPTEMBER
Launch Time: Jan-Feb 2010
Written by
Radhika
MBA-IB (10-12)
Indian Institute of Foreign Trade
MARKMANTRA | SEPTEMBER