The experts pointed out exactly why “Indian” strategies were required for those who wished to succeed in the Indian marketplace. And eminent speakers further added that the Indian marketing approach, if developed and packaged well, could actually be relevant for other emerging economies.
With the dynamics in the marketplace changing every day, various new sectors are emerging and marketers need to think accordingly. International scholar Dr. Jagdish Sheth, while delivering his keynote address, pointed out, “India needs to have its own paradigm… In many areas India can teach the world a few marketing lessons – take for instance what India has done to serve the Bottom of the Pyramid market. Life Insurance Corporation (LIC), for instance, can teach American firms a lot!”
Mr Kishore Biyani, CEO, Future Group, in his video-taped address, added, “India is unique. Each caste drinks water in different types of vessels! And we have 60 types of rice to cater to regional and local preferences. Marketing in India should be practiced by observing our consumers very closely.”
The summit was addressed by prominent Indian and international voices like Dr Jagdish Sheth of Emory University (US), Ms Vinita Bali, MD, Britannia Industries, Dr Amitava Chattopadhyay, Professor, INSEAD (France), Mr Arvind Singhal, chairman, Technopak Advisory Pvt. Ltd, Dr Mithleshwar Jha, Professor, IIM Bangalore, Dr Sharad Sarin, Professor, XLRI Jamshedpur, Mr Pradeep Kashyap, MD, MART, Mr Ajay Kelkar, Sr. VP, Marketing, HDFC Bank, and Mr Arvind Mediratta, CMO, Yum Brands among others.
Talking about ‘The state of marketing knowledge: Do we have our own paradigm, or are we blind followers?’ all three speakers were unanimous in their views: Indian marketing needs its own framework. The panel was addressed by Dr. S Neelamgham, President, Prof. Sharad Sarin of XLRI Jamshedpur and Prof. Mithleshwar Jha of IIM Bangalore.
Dr. S Neelamgham said, “Global marketing templates cannot be blindly copied here. Coke became a household name only after it adopted the Thanda Matlab Coca-Cola slogan.”
Prof. Sharad Sarin, for his part, said, “Indian marketing is contextually rich but conceptually poor. We have no dearth of knowledge. But there is a need to create Indian intellectual capital.”
Prof. Mithleshwar Jha, referring to Chanakya’s Arthashastra, was of the view that Indian marketing and business thinking were very well evolved, but of late we have not been taking enough pride in our heritage. “We need to package and market the Indian marketing thought process internationally,” was his advice.
Indian Marketing Summit is conceptualized as a long-term platform to promote marketing thinking at the Indian marketplace. The theme of the inaugural summit was “Marketing in India: Challenges & Responses.” Held on 8th and 9th January at the India Habitat Centre, in New Delhi, it was presented by BIMTECH and supported by the All India Management Association (AIMA), Philadelphia University, McGraw-Hill, Panacea Biotech, Education Promotion Society of India (EPSI) and Media Partners were NDTV Profit, Radio Mirchi, Financial Express and Exchange4media.com.
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