Maddy's FORUM Of Marketing

In one of my recently published paper based on Indian samples, it is observed that

•Individuals' interpretation of the world (i.e., self-construal) influences their consumption decisions including status consumption.
The findings indicated that independent self-construal directly enhances intention for status consumption but interdependent self-construal enhances it via social comparison.
Social comparison drives intention for status consumption among interdependent self-construal people at low materialistic levels but not at high materialistic levels.

The link of the paper is as follows:

Redirecting

Stephen Covey in one of his book titled The Speed of Trust talked about character and competence aa the ingredient for trust.
If the notion is converted for a branding..it can be expalined as
Character of a brand + competence of a brand=brand trust
Character of a brand: A brand must display a character that is appreciated by the consumer. It should stand for good cause leading towards sustainability and making the world a greater place to live.
Competence of a brand: A brand must perform what it intends to perform. The functional attibute of the brand should never be compromised.
Marketers should ensure these for high brand trust which is essesce of branding.
Its a continuous journey as longebility makes a brand iconic.

Uniqueness of NaMo' s branding strategy....
Create a mission
Popularize the mission through all media
Bring symbolic connection with the mission
Engage and Empower the mass with the mission
Award the mass by highlighting how they are instrumental in fulfilling the mission
Achieve success.
Worthy for marketers to replicate for their branding practice.

basic of marketing....
segment the market, target important segments according to ur product, position ur product in that segment accordingly.... offer a value proposition superior than competitor nd justify that in the perception of the target segment......and most importantly DONT DO IT IN A FAKE OR UNAUTHENTIC MANNER. IT SHOULD BE JUSTIFIABLE AND DEALT WITH HONESTY.
rest will follow accordingly..

one good lesson need to learn and implement from the external environment is that if you are not with good intent while dealing with your taregt market, they will throw you out.
so...lessons for marketers is BE HONEST IN YOUR DEALINGS WITH YOUR TARGET MARKET, THINK FOR WIN-WIN, TRY TO BE A COMPANION OF YOUR TARGET DURING THEIR GOOD AND BAD TIMES, SUPPORT AND UPLIFT THEM, CONCENTRATE ON THEIR ISSUES OF IMPORTANCE.....EVENTUALLY THEY WILL UPLIFT YOU IN YOUR OBJECTIVES.
start thinking in the way of 'INVERTED MASLOW'S HIERARCHY'..

trends that are changing the direction of marketing...
1. paradox of globalization
a) both democratic and non-democratic nations are growing together. politics remains national though all are globalizing.
b) globalization fails tremendously to create equal economy irrespective of economic integration.
c) creation of a cultural dilemma in the same cultural system.
2) creative low cost/ free technology, social media creates a platform which gives common people more freedom for expression and participation.
3) a new creative way of looking towards the world, profession, career has emerged..which gives birth of a intellectual/creative society.
result for marketers.......whether to accept a globalized approach OR a localized approach OR a mixed approach (boomerang...!) in the orientation of marketing practices.
what do you feel friends?

one strategy to be found in brand communication now-a-days in the form of challenge marketing...
fair&lovly goes with 5 crore claims citing dey are d best
pure it goes with 1 crore prize money citing dey are d best
mahindra&mahindra is going with rs.500 claims related to 2 wheelers tesi drive...
dere r so many in this arena..
point of discussion is...IS IT REALLY DAT DEY R D BEST? WAT MAKES DEM CLAIM LYK DAT? Y NOT NY CLAIMS ARE STILL DISPROVED BY COMPETITORS OR CUSTOMERS? IS IT A RIGHT STRATEGY FOR BRANDS?

lets start discussing on CO-CREATION or CROWD SOURCING.
a very recent practice popular among marketers...
in all areas of marketing like advertising,product development, distribution channel design....its now the buzz for the marketers.
take latest i10 advertising or some of the flavor of Lay's or designing of the symbol of rupee...marketers are heavily taking the target markets into consideration in their marketing tools design.
discussion point is...
IS IT GOING TO STAY FOR LONG?
WILL IT THE WAY OF DOING MARKETING IN FUTURE?
IS IT BENEFICIAL?
WHY CROWD SOURCING IS SO MUCH POPULAR NOW A DAYS?
lets start sharing opinion with solid evidences and facts.

FRIENDS..
THE SOLE OBJECTIVE OF THIS PAGE WILL BE A SOLID DISCUSSION ON EMERGING TRENDS AND ISSUES IN THE AREAS OF MARKETING. CHALLENGING THE EXISTING MARKETING PRACTICES ARE MOST WELCOME FOR BETTERMENT. SEEK YOUR ACTIVE PARTICIPATION TO MAKE THE PAGE A REAL CONTRIBUTOR IN THE ARENA OF MARKETING.