After Mr. Anil Agarwal, Executive Chairman of Vedanta group, Mr. Alok Sharma, Police Chief of this year’s Kummbh Mela and Strategy Guru Mr. Govind Vijayarajan, it was time for another guest lecture at WIMWI. This time the PGP-1 students had the opportunity to attend a talk by Mr. Suman Srivastava, the CEO of Euro RSCG India. This lecture was held as a part of the Marketing course taught to the first year students.
Mr. Suman explained how the means of marketing change as media changes. There is a need for marketers to adapt their strategies to the swift spread of internet as a source of media. If the past was about using mass media to get reach and frequency, the future is a lot more complex than that. Marketers no longer control what the customers see. The consumer no longer looks at just the product, but due to easy availability of information in this internet age, he/she can see what the company is doing for the benefit of the community. Hence, instead of a linear relationship between a brand and the consumer, he proposed an interconnected linkage between the brand, employees, consumer and community. He gave examples of brands promoting higher causes like ‘Jaago re’ campaign by Tata Tea, Real beauty by Dove and ‘Jagmag desh mera’ by Voltas. He called this as Marketing 3.0: Leveraging social networking media. He concluded by stating customer, community, collaboration and convenience as the 4 C’s to replace the 4 P’s (price, product, promotion, and place).
An enlightening session indeed, with all the marketing buffs eager to learn the implications of Marketing 3.0