Surewaves

Fix the Mix

These statistics can daunt even the best in class marketing managers. How do you find your TG in a 1.27-billion people nation, who may belong to any of the 2,000 ethnic groups, speaking several of the 100 plus languages?  More than 50 per cent of this population is below the age of 25. Their incomes and education brackets span several levels. Lost already? Now, making this diverse setting even more complex are differences in physical appearance, languages, food, attire and other lifestyle preferences. That’s the Indian marketplace we are all addressing. Of course, your search doesn’t stop there. <br><br> You now have to seek out your consumer among new clusters of people that are making the scenario even more multifaceted: the generation that is mixing the markets. Thanks to migration, inter-community marriages, the joint family system, progressive women’s status and fusion of so many preferences, the landscape is even more treacherous. As a marketer, I’m sure you are no longer counting diversity elements on their fingers. <br><br> We all know that a typical “diverse” company would boast of a healthy representation of all groups of employees in its internal ecosystem. When it comes to external consumers, the advertiser has a more complex job on hand. The TG is teeming with highly individualistic groups of people. There are also a wide range of products/brands for different groups. Well, that’s good news for consumers. For the advertiser in search of the consumer, the pitfalls are many.  First, to avoid the message from becoming just a spiel, the differentiated brand message has to be conveyed to the relevant target groups.  Now, the question is of how effective is this communication? Are consumers watching the ads they are supposed to be watching? <br><br> Speaking of effectiveness for a product launch ad, companies are looking at 70-80 per cent of their TG watching the ad at least once. In case of established brands, targeting the right mix of people effectively is the single biggest challenge. That’s the reason media buyers are constantly looking for solutions that enable them to reach a desired numbers of their TG for different product categories. This becomes especially challenging when the means of messaging is through mass mediums. Targeted messaging can be achieved through strategies like segmented or diversity marketing. New age technology facilitates marketers and takes them closer to the targeted 60-70 per cent product reach, yielding a higher ROI.  So that the optimum gets you the maximum.
By Mr Rajendra Khare - CMD, SureWaves MediaTech - March 21, 2016

Demystifing Diversity Marketing

Are you saying diversity is not new to us? Sure, you are right. Diversity is inherent to our lifestyle and culture. The beauty of our country lies in its diversity, but herein lies the true challenge for a marketer. Thus what is beginning to emerge is the need to connect the business to the right consumer, the product to the right consumer and the message to the right consumer. <br></br> So, how do we leverage the diversity marketing concept to reach our communication to our consumers? Marketing gurus recommend adapting the message to the market. Let’s go along with this and take a giant leap ahead. I would say diversity marketing, in today’s context, is all about adapting the medium or the channel to the market. After the first two steps of adapting the product and the message to the market, what follows naturally is that we reach the right consumer through the right channel or the medium. <br></br> Why is it important to find the right channel? Let’s see what’s materializing within the marketplace. Tectonic demographic shifts are creating micro-markets that businesses are overlooking. Or they are addressing markets where their messages are wasted. These are opportunities lost and do cost a lot of money, time and effort. India has a lot of undervalued markets and overexposed consumer groups. This presents an enormous opportunity for our products and message to reach out to potential consumers. <br></br> Much has been written about the first two strategies of tweaking the product and the message to our potential consumer. But the third paradigm -- a potential clincher --for the marketer is tweaking the medium of communication and has not been explored at all. Which route does one take to reach the exact consumer type? <br></br> As technology is the ruler of the modern world, let’s use this power to reach our offerings to the TG consumer in any region, belonging to any age, any socio-economic class, and any intellectual group and avoid gratuitous marketing costs and effort. Media managers should rally around this aspect of diversity marketing so that they send the right signal to the right consumer.
By Rajendra Khare - CMD, SureWaves MediaTech - February 21, 2015

Diversity is the art of thinking independently together

Malcolm Forbes, well-known entrepreneur and publisher said this. Diversity cannot be described more aptly than this and we totally agree with him. We believe that the word ‘diverse’ is as multifaceted as the concept itself. While a simple definition of diverse is all about an entity having different facets or dimensions of language, culture, race, colour, socio-economic beliefs or ideologies, we believe the word diverse encompasses a lot more than ‘differences’. <br></br> It is all about taking in the differences to make a whole. It is about exploring the opportunities of a different world to benefit an entity or society. Diversity takes in the differences and brings out a whole new world that comprises all the distinct qualities in a harmonious way. <br></br> It binds together the dissimilar in such a way that unrelated become related. Diverse is not a negative. It is a positive attribute that celebrates differences. Diverse is not disagreement. It is a coming together of all beautiful things in a complementary style. <br></br> Diverse is not a conflict. It is a blending of differences in such a way that there is a seamless spectrum of all things different and dissimilar. Haven’t we heard of civilizations that isolated themselves and so, withered away because of a lack of newness? Melting pots are called that and survive because here the heterogeneous become homogeneous. <br></br> So, whether it’s in a family, an organisation, institution, state or country, being inclusive is the very basis of human evolution. Being multicultural is one of the most exciting attributes of any entity. Diversity is not a cost that one pays for being host to different things. Diversity is an opening that brings gains. We stand on this platform to address the challenge that diversity throws to us. It is a chance to break free from the shackles of mediocrity, repetition, narrow- mindedness and fractured thinking. We believe diversity is an opportunity that will open new doors to all who want to make a difference to the difference. And diversity marketing is about valuing this difference and bringing in different values to different people.
By Rajendra Khare - CMD, SureWaves MediaTech - January 21, 2015

FMCG Power Breakfast on Diversity Marketing

To further explore exciting breakthroughs in ‘Diversity Marketing’, SureWaves organized a special roundtable discussion titled ‘Diversity Marketing: The Next Big Challenge for FMCG in India’ as a platform for thought leadership on 29th January 2016 in Mumbai.

The session saw top marketing minds from the FMCG sector -Ajay Dang- Vice President Marketing (Home Care), Godrej Consumer Products ; Anuradha Aggarwal – Chief Marketing Officer, Marico; Anuradha Paraskar – President – Marketing & Group Brand, Piramal Group  ; Manashi Guha- Vice President – Marketing – Consumer Products Division, Loreal India; Parag Desai- Executive Director, Wagh Bakri Tea and Shivangi Gupta- Director, Midas Care; who shared their perspectives on how ‘Diversity Marketing’ can propel the next level of growth for the FMCG industry. Ms. Vanita Keswani, CEO, Madison Media Sigma was the moderator of the event.

BFSI Power Breakfast on Diversity Marketing – Mumbai

SureWaves in partnership with Exchange4media organized a Power Breakfast roundtable on ‘Diversity Marketing – The BSFI Marketer’s Challenge’ on June 4th  2015 in Mumbai. The panelists were major BFSI marketers, Abhijit Shah – Head of Marketing, Digital and Customer Experience, ICICI Prudential AMC, Braj Kishore- Head- Brand & Corporate Communication, SBI Life Insurance, Meera Haridas- Assistant General Manager- Marketing & Corporate Communication, Bank of Baroda, Pradeep Pandey- CMO, Future Generali India Life Insurance, R. Balaji- Vice President- Marketing & Strategy Mahindra Finance, Sevantika Bhandari- Senior VP & Head Marketing – DHFL, and Tamanna Khanna- Head – Marketing, IndiaFirst Life Insurance. The discussion focused on understanding  the extreme diversity in the Indian market due to the varied cultural and socio-economic nuances along with the average Indian consumer’s individual preferences and can it be effectively addressed by a brands marketing strategy.

Read coverage on the event at:

http://www.exchange4media.com/marketing/surewaves-to-host-bfsi-roundtable-on-%E2%80%98diversity-marketing%E2%80%99-in-partnership-with-exchange4media_60258.html

 

http://www.exchange4media.com/marketing/marketers-discuss-the-complexities-of-diversity-marketing-at-surewaves-bfsi-roundtable_60287.html

Delhi edition of E- Commerce Power Breakfast on Diversity Marketing

The Delhi edition of the Diversity Marketing Power Breakfast was held on 19th August 2015 in New Delhi. The session was moderated by industry veteran, Vikram Sakhuja, whose throughout his illustrious career has handled brands across varying sectors, thus enabling deep insights on the facets of Diversity Marketing. The panel included  top marketing minds from the e-commerce sector- Animesh Kumar, Head of Marketing, Yatra; Prabhakar Tiwari – CMO, PayU; Naveen Kukreja – Group CMO (Policybazaar.com) & Managing Director (Paisabazaar.com); Saurabh Srivastava, Chief – Marketing Officer, MobiKwik; Manisha Rana – Marketing Head, Magicbricks.com; Paroma Sen – Marketing Head, NDTV Ethnic (IndianRoots.com) and Priyanka Chugh, Senior Manager, Content and Marketing, YepMe; who shared their perspectives on challenges like rapidly changing media, consumer acquisition, extreme diversity of the customer.

Bangalore edition of E- Commerce Power Breakfast on Diversity Marketing

SureWaves in association with Exchange4media organized a special roundtable discussion titled ‘Diversity Marketing: The Next Big Challenge for E-Commerce in India’ as a platform for thought leadership on August, 12, 2015 in Bangalore. The session saw top marketing minds from the e-commerce sector – Kaushik Tiwari, Vice President Marketing & Communication at Bharat Matrimony; Kavita Chowkimane, GM, Marketing, Portea Medical; Jidesh Haridas, Head of Marketing and Sales at CapriCoast.com; Vineet Sehgal, Chief Marketing Officer, Quikr; Pallavi Chopra – ‎Head of Marketing at redBus.in; Anshul Khandelwal, VP, Marketing at Bluestone and Vatsala Kothari, Brand Evangelist, Zivame; who shared their perspectives on how ‘Diversity Marketing’ can propel explosive growth for the E-commerce industry. Moderating the discussion was industry veteran, Anita Nayyar, CEO India & South Asia at Havas Media.

 

The roundtable discussion highlighted the marketing challenges faces by the E-Commerce sector and what are the key communication/marketing mediums they use to engage their vast and diverse consumer base. The session also focused on how the attempt to address local needs of consumers within a diverse, segmented TG, has led to various marketing innovations from the e-commerce sector.

FMCG Power Breakfast on Diversity Marketing

BFSI Power Breakfast on Diversity Marketing – Mumbai

Delhi edition of E- Commerce Power Breakfast on Diversity Marketing

Bangalore edition of E- Commerce Power Breakfast on Diversity Marketing