India’s Best media agencies 2011 and client expectations

4Ps B&M in association with Indian Council for Market Research (ICMR) brings to you the list of India’s best media agencies – those that are rewriting the rules of the game in today’s contemporary, fast-paced, media-buying world. Additionally is presented a graphical report on client expectations

While consumerism in India is today on an all-time high, product life-cycles are on an all-time low. Even the right product, at the right price point, may not serve the purpose of the marketers sans the right advertising push. Investment is short and in such a circumstance, the companies turn to the media planners, giving their kind more respect and making them more central to the entire decision ad-placement process. Therefore, to zero in on the best media agencies for the year 2011, we initially started with the set of India’s most recalled and successful media agencies. The final list was arrived at by testing each agency on several technical and financial parameters, which included number & quality of clients, billings generated in the recent past and ROI delivered (for their clients). Apart from this, an in-depth survey was also conducted amongst India’s top marketers (which included CMOs and Senior Marketing Executives of companies like Bharti Airtel, Idea Cellular, Fortis Healthcare, Lava International, Ashiana Housing, et al) to understand the factors/parameters they take into consideration while selecting a particular media agency to design the marketing mix of their respective companies. A total of 247 interviews were conducted using a structured questionnaire across five main centers in India namely Mumbai, Delhi, Kolkata, Chennai and Bengaluru. We’ve attempted to ensure that the 4Ps B&M-ICMR listing is cogent, structured and represents the factual positioning of expectations of the respondents.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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How festivals have fed consumerism in India

4Ps B&M brings to you a spectacular analysis on how festivities have transformed the consumer space more than any other factor in the marketing history of India post-liberalisation, and why the years ahead don’t look any different

20 years of celebration
In the post liberalisation era, Indians learnt to earn well, and learnt to spend even better! And 4Ps B&M’s angshuman paul argues that it was the festival season that truly brought the onset of consumerism in India to the marketer’s delight. And consumers aren’t complaining either.

When it comes to defining God, there are numerous typical questions that people have asked and there are as many or more answers that spiritual leaders have come up with. Speculation is never ending on whether God is male or female, does God have a form or is formless, which religion has a better chance at bringing one closer to God, et al. People in India, particularly with the dominant Hindu population, have traditionally worshipped millions of Gods, and speculated on these very questions and come up with even more confusing answers. However, there is one aspect about which we can be more conclusive in comparison – God in the 21st century is, far more often than not, ‘Made in China’!

Surely, there are no surprises there, as most of you who glance at the bottom of those beautiful idols (in organised retail shops as well as myriad gift stores) to check the price tags would have also noticed the fairly ubiquitous name of the country of origin. It may make you feel uncomfortable for a moment, but look at the invaluable lessons in marketing and economics it provides you. When it comes to business, the world (thankfully) speaks one language, belongs to one religion and worships one God (in this case, the God that the customer worships)! The deal goes to the company who is the most competitive and knows the customer best.

From an economy that was supposed to be tapped only if you had a ‘compulsively unrelenting’ death wish, India transformed into a booming customer market for numerous global economies with export surplus, and China is obviously the most well known and prominent. Liberalisation in India was a major inflection point in India that transformed consumer mindset as well as producer orientations in terms of marketing and branding like never before. A study by McKinsey Global Institute in 2007 revealed that if India grows at the current rate, average household incomes would triple by 2025 compared to 2007 and India will become the fifth largest consumer market globally compared to 12th in 2007. In terms of economic classifications, the deprived (bottom of pyramid) households would shrink admirably in number to 49.9 million in 2025 compared to 101.1 million in 2005 and seekers in turn would swell from 10.9 million to 94.9 million and the globals at the top would grow in number from 1.2 million in 2005 to 9.5 million in 2025. Private Final Consumption Expenditure (PFCE) accounted for around 57% of India’s GDP (at market prices) while retail accounted for 37% of PFCE at $291 billion in FY 2009-10 (Deloitte). The report projects that India spends a major portion (59.5%) on Food & Grocery followed by 16.9% on beauty & wellness and 9.9% on Beauty & Fashion. It’s a virtual bonanza for MNCs. “However, liberalisation was not only limited to foreign players coming in but also Indian players, especially small scale players like us could imagine going overseas,” feels Tarang Arora, a Jaipur-based second generation entrepreneur who took his jewelry brand Amrapali to Europe and has 10 exclusive stores in cities like London. During the late 1980s; be it for a scooter or for a sack of cement – demand was high but supply wasn’t, leading to black marketing and monopoly of sellers. So brands like Bajaj, Titan (from the stable of Tatas), Rasna & Onida (from Mirc Electronic) were thriving.

For more articles, Click on IIPM Article

Source : IIPM Editorial, 2011.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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Management Guru Arindam Chaudhuri
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IIPM's Management Consulting Arm-Planman Consulting
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