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Welcome to the Marketing Mastermind
July '11

Previous Issues

 

The Marketing Mastermind is a unique digest designed to cover wide range of issues in marketing and sales management. Contents include contemporary articles, interviews, debates, success stories, special reports, marketing practices, case studies and summaries of articles appearing in leading international magazines and reviews of latest books on marketing and CRM.

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  • Marketing Mastermind is a unique magazine devoted to the field of Marketing.
  • Contents include contemporary articles, interviews, debates, success stories, special reports, marketing practices and case studies on marketing.
  • Articles are carefully screened and selected to cover a wide range of issues in marketing and sales management.
  • Contains executive summaries of articles appearing in leading international magazines and summaries of latest books on marketing and CRM.
  • A must read for executives, managers, consultants and students who are interested in developing the cutting edge knowledge and skills in marketing.
 
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Unfolding the Growth Story of India’s Modern Retail Sector
The Role of Pre-Sales in the IT Sector
Customer Relationship Management Tools: An Overview
Customer Value Management: A Step Ahead of CRM
Presentation: Next ‘P’ in the Marketing Mix?
Barriers to the Balanced Growth of Life Insurance Market in Barak Valley, Assam
An Empirical Study on Factors Considered by Potential Users of 3G Mobile Services
3G Wonderland: The World is Not Enough
Case Study: A Marketing Perspective on Microfinance:
The Case of Nirantara
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Contents
(July 2011)

Unfolding the Growth Story of India’s Modern Retail Sector

-- GY Shitole and Deepali Moghe

From street corner mom and pop stores, Indian retail has evolved with great dynamism over the past decade. As far as India is concerned, the global economic meltdown and its aftermath are a thing of the past. Taking advantage of India’s intrinsic resilience power, the modern retail industry is again in its expansion and consolidation mode. Many new and novel dimensions are being added by modern retailers to woo the consumers in all possible ways. Some of the major trends observed in the growth of organized retail during recent years are highlighted in this article.

The Role of Pre-Sales in the IT Sector

-- Priyank Azad

The global IT market continues to grow, with organizations of all sizes and from diverse businesses increasing their level of computerization and adopting more up-to-date systems. At the same time, competition among IT organizations also continues to grow – to create brand image and thereby gain market share. The phase of pre-sales plays a very important role in the process of attracting customers. The pre-sales team should focus on various aspects such as collecting information about the prospect, responding to the prospect’s problem and liaising with a range of entities within and outside the organization in order to provide an edge to the business proposal.

Customer Relationship Management Tools: An Overview

-- Abhijeet Singh & Brijesh Kumar Yadav

Customer satisfaction is an antecedent to customer loyalty. A company with a large number of loyal customers gains advantage over its competitors. However, achieving sustained customer satisfaction and retention are becoming more challenging as the expectations of customers are increasing day by day. Companies are therefore using innovative tools to satisfy customers, which helps in retaining their loyalty. This article focuses on innovative Customer Relationship Management (CRM) tools used by various companies, which lead towards improved customer satisfaction and loyalty. The CRM tools thus help in strengthening the firms’ competitive advantage.

Customer Value Management: A Step Ahead of CRM

-- Vivek Ahuja

Customer Value Management (CVM) is a process-oriented approach that helps organizations to gain critical insight into and control over customer relationships through the actions of various stakeholders. This article attempts to present an understanding of CVM and its benefits. Further, it also tries to draw a line of distinction between the concepts of CRM and CVM.

Presentation: Next ‘P’ in the Marketing Mix?

-- Reeta Kumari

This article highlights the increasing importance of ‘presentation’, which may be viewed as part of ‘product’, ‘promotion’ or any other element of the marketing mix, depending on what aspect of presentation one is talking about. However, given the growing level of sophistication and finesse involved in presentation (including packaging and visual merchandizing), this may soon merit being considered as the next ‘P’ in the marketing mix.

Barriers to the Balanced Growth of Life Insurance Market in Barak Valley, Assam

-- Nikhil Bhusan Dey & Mrinmoy Bhattacharjee

The primary objective of life insurance is to serve as a social instrument for providing economic security to the insured, irrespective of their social status, geographic location, etc. However, it is found that life insurance companies prefer to generate business from a concentrated market segment, rather than distributed across wide geographic regions and social strata. The present empirical study finds out various factors acting as barriers to the even growth of life insurance market in three districts of Assam (India), collectively known as ‘Barak valley’.

An Empirical Study on Factors Considered by Potential Users of 3G Mobile Services

-- Hiren J Patel, Jigar Makwana & Shailesh Desai

The recently introduced 3G or third generation telecom service provides much higher rates of data, voice and video transfer as compared to the 2G or second generation telecom system. In order to succeed in the 3G market space, it would be useful for the service providers to understand the factors considered by potential customers for subscribing to the same. This research paper identifies such factors based on a consumer survey in three cities (Ahmedabad, Gandhinagar and Mehsana) in Gujarat state. It also classifies the customers into two clusters.

3G Wonderland: The World is Not Enough

-- Pravin Patil

India going 3G heralds the dawn of a new era in the telecom industry. The country has been divided into various service areas, and licenses have been awarded to successful bidders (telecom service providers) by the Government of India. The battle has just begun. India is now witnessing a major media rollout to capture the eyeballs of the target audience. The immense power of 3G technology entails new power at the fingertips for individual customers as well as corporate entities. 3G technology is aimed at providing unimaginable and magical experience of a wide range of new services and features to them, so that they will be glued to their mobile phones.

A Marketing Perspective on Microfinance: The Case of Nirantara

-- Priyanka Jayashankar and Robert V Goedegebuure

As the microfinance industry has grown worldwide at a frenetic pace, practitioners and industry experts are now turning their focus towards client-responsive product development and a slew of marketing strategies. Microfinance Institutions (MFIs) customizing their products and services to the needs of the poor are likely to be more successful in meeting their social performance targets. At the same time, brand building and promotional strategies would enable MFIs to retain their clients and fend off competitors. This case study on Nirantara – an MFI in North Karnataka, highlights these issues.

 

 

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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