Can Big Data truly replace
Creative Marketing?
The
first speaker was Mr. D. Bhattacharyya who expressed his happiness to be with
the youth. He took us a few years back
when India was contributing to around 70% of the total wealth of the world. He
shared his concern that people now are more open to the leadership
of Jack Welch rather than Mahatma Gandhi. This has led to a shift in the overall
value system which is now centered around “only we win”. He stressed on the
fact that inclusive growth is essential for the nation and need of the hour.
This can be achieved by focusing on the
rural India. 1In this backdrop he introduced his organization IFFCO, the largest
marketer of chemical fertilizer in the world. He revealed the fact that IFFCO
is owned by 5.5 crore farmers of the country. If we include their families the
figure reaches to one fifth (20-22%) of the total population of the country.
This way IFFCO is a direct stakeholder in the food security bill which is
expected to provide subsidy to 75% of the rural population and 67% of the total
population (82 crore people). The scheme would cost approx. 130 lakh crore rs. to
the government. Overall he opined that rural market is expected to see high
growth and it should be the area of focus. Another issue he touched was the
gender diversity i.e., participation of women in the labor force. He supported
greater participation of women and gave the example of the matured economies.
The speaker was also a great admirer of Swami Vivekananda and quoted him
several times in his speech. As a whole it was a great inspiring speech and a
treat to listen to.
The
next speaker was Mr. Shushobhan Chowdhury who initiated his dialogue with the
quotation “Be the change you want to
bring”. He narrated his own story how he went through many adverse
conditions before tasting the success. Mr. Shushobhan is an in-and-out
marketing guy and he reflected upon the role of marketing. He said that it is
more important how to sell than what you sell. He then ran through a
presentation which explained the digital media revolution. It also contained
information about Big Data and supported by insights from the speaker who said
that Big Data is actually a rehashing of the term business intelligence. He
also explained how digital marketing is helping in bringing loyalty. An example
of Pepsi was given. According to the guest, 72% of the people who drink Pepsi
are also a customer for Coke hence hinting that there is no absolute loyalty.
The data can only give us details such as what share of people are using a
product but can’t tell us how to induce loyalty. Big Data can help us to
predict, analyze and narrow our decision making but can’t help with sales,
creativity and marketing. We can have insights from the data but not at the
cost of marketing. Therefore he concluded that data could not replace the
marketing, at least not in the visible future. Nevertheless he acknowledged the
power of data and quoted examples of retail sector where Big Data is extremely
helpful in increasing efficiency. He also encouraged students to study about
digital media and shared few sources where we could learn from.
The
third speaker was Mr. Raghu Iyer, an alumnus of SIES Mumbai. His areas of
specializations are brand management, marketing and product analysis for
pharmaceutical products. He first explained us the distinction between generic and
branded drugs and some patent laws related to that. He also spoke about how
cost of R&D is growing day by day and there should be a pipeline of future
projects. He mentioned that now the complete lifetime of a product is around
8-9 years which used to be 12-13 years earlier. This also contributed towards
growth in the R&D costs and on top of it, there is no guarantee of success
(actually the success rate is one in one thousand!). He then went on to describe
the pharmaceutical industry in India which is dominated by local players,
although foreign companies are catching up. It is a recession proof industry
and poised to be $70 billion market by 2020. He also introduced his
organization Panacea Biotech Ltd. which is at number 3 in world as far as no.
of tablet consumption is concerned. He also shared that India is a hub of
clinical trials too as per patient recruitment cost is low here. The speaker
then discussed the delivery network in which doctors play a central role. The
marketing is very different as well due to the fact that medicines are
considered a need in a negative sense. The sales representative becomes a key
player in overall marketing efforts. Opinion leaders are other important
players of the game. In this context, he talked about the digital social media
marketing and how it is changing the landscape. Lastly he enumerated the main
features of a brand plan and its key elements.
This marked the end of the event. A note of thanks was delivered and mementos were presented to the guests. This was a very well organized session with the well known names of the industry. The topic of the summit was as relevant as it could be. The take-away from the session was immense and students were very appreciative of the same. The Vipanan is over now however the learning is there to stay.
Big
data is already a buzzword in the field of Marketing. Marketers are getting
increasingly interested and involved in capturing and analyzing Big Data for a
variety of reasons. For a management student, it is of vital importance to
understand about this new concept. DoMS, IIT Roorkee found such an opportunity
to discuss the topic and learn from the industry leaders. The event was
marketing summit, Vipanan which was organized on 15-Sep-2013 at Department of
Management Studies, IIT Roorkee in association with ISTD Dehradun chapter. The
event was sponsored by brands such as Namo Alloy & Indian Oil and conducted
by MarkIIT, the marketing club of DoMS, IIT Roorkee. There was an aura of
excitement in the department and students were enthusiastic about the same.
The event saw
participation of some of the industry stalwarts. A total of four eminent personalities
joined the occasion and shared their experience with the students. Their brief
profiles are mentioned below.
Mr. D. Bhattacharyya – Sr. Executive Director (HR), IFFCO
Mr. Shushobhan Chowdhury – VP and Head of Digital Strategy India, JWT
Mr. Raghu Iyer - Head Marketing (Vaccine Business), Panacea Biotech Ltd.
Mr. Divyang Gupta – Account Manager, IBM
Mr. D. Bhattacharyya – Sr. Executive Director (HR), IFFCO
Mr. Shushobhan Chowdhury – VP and Head of Digital Strategy India, JWT
Mr. Raghu Iyer - Head Marketing (Vaccine Business), Panacea Biotech Ltd.
Mr. Divyang Gupta – Account Manager, IBM
The
next speaker was Mr. Shushobhan Chowdhury who initiated his dialogue with the
quotation “Be the change you want to
bring”. He narrated his own story how he went through many adverse
conditions before tasting the success. Mr. Shushobhan is an in-and-out
marketing guy and he reflected upon the role of marketing. He said that it is
more important how to sell than what you sell. He then ran through a
presentation which explained the digital media revolution. It also contained
information about Big Data and supported by insights from the speaker who said
that Big Data is actually a rehashing of the term business intelligence. He
also explained how digital marketing is helping in bringing loyalty. An example
of Pepsi was given. According to the guest, 72% of the people who drink Pepsi
are also a customer for Coke hence hinting that there is no absolute loyalty.
The data can only give us details such as what share of people are using a
product but can’t tell us how to induce loyalty. Big Data can help us to
predict, analyze and narrow our decision making but can’t help with sales,
creativity and marketing. We can have insights from the data but not at the
cost of marketing. Therefore he concluded that data could not replace the
marketing, at least not in the visible future. Nevertheless he acknowledged the
power of data and quoted examples of retail sector where Big Data is extremely
helpful in increasing efficiency. He also encouraged students to study about
digital media and shared few sources where we could learn from. 
The
third speaker was Mr. Raghu Iyer, an alumnus of SIES Mumbai. His areas of
specializations are brand management, marketing and product analysis for
pharmaceutical products. He first explained us the distinction between generic and
branded drugs and some patent laws related to that. He also spoke about how
cost of R&D is growing day by day and there should be a pipeline of future
projects. He mentioned that now the complete lifetime of a product is around
8-9 years which used to be 12-13 years earlier. This also contributed towards
growth in the R&D costs and on top of it, there is no guarantee of success
(actually the success rate is one in one thousand!). He then went on to describe
the pharmaceutical industry in India which is dominated by local players,
although foreign companies are catching up. It is a recession proof industry
and poised to be $70 billion market by 2020. He also introduced his
organization Panacea Biotech Ltd. which is at number 3 in world as far as no.
of tablet consumption is concerned. He also shared that India is a hub of
clinical trials too as per patient recruitment cost is low here. The speaker
then discussed the delivery network in which doctors play a central role. The
marketing is very different as well due to the fact that medicines are
considered a need in a negative sense. The sales representative becomes a key
player in overall marketing efforts. Opinion leaders are other important
players of the game. In this context, he talked about the digital social media
marketing and how it is changing the landscape. Lastly he enumerated the main
features of a brand plan and its key elements.
The fourth and final
speaker of the day was Mr. Divyang Gupta. He is a 2005 batch alumnus of DoMS,
IIT Roorkee and currently associated with IBM. He has also worked with
organizations like TCS, PwC and E&Y in the past. The speaker briefed us
about the IT industry. He also deliberated upon the changing nature of the
industry in which customers are at the center now. He explained us the various
products and services offered in IT industry and also introduced us to the
world of ERP. Then he went on to define social media and what kind of role it is
playing. He also walked through the different functions of IT companies.
This marked the end of the event. A note of thanks was delivered and mementos were presented to the guests. This was a very well organized session with the well known names of the industry. The topic of the summit was as relevant as it could be. The take-away from the session was immense and students were very appreciative of the same. The Vipanan is over now however the learning is there to stay.
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