September 26, 2015 8:42:11 pm
Leading FMCG brands, start-ups and even banks are looking to none other than the student of the Indian Institute of Management, Ahmedabad (IIM-A) to harness their marketing strategies in order to navigate the changing tastes of their consumers as part of the B-school’s oldest annual marketing conclave – Insight, which began this week.
For the 3-day conclave, students teams pitched for as many as 11 projects including those from a bevy of firms and worked on the ideas for three months before it culminated at the fair. The marketing conclave which is in its 28th year, is expected to draw close to 7000 people in the three days at the IIM-Ahmedabad campus, as compared to last years footfall of 5000 people.
The students used four marketing tools like observation and associative, projective and gamification techniques via disguised marketing and create interesting games which discreetly capture consumer responses to provide an insight into the factors that matter in making any marketing decision.
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“Insight is an annual marketing conclave of IIM-Ahmedabad with its own characteristic events like ‘The Great Ahmedabad Mela’. Various renowned organizations award live projects to the students in this conclave. A distinct feature of these projects is the significant market research that goes into it. For that, Insight organizes ‘The Great Ahmedabad Mela’ which attracts the local people of the city and the market research is carried out in disguised format.Most of these firms wants to understand consumer behaviour through ‘disguised marketing’, “said IIM-A student Vidushi Singh from the ‘Insight’ team.
Singh adds, “Like Amul (GCMMF Ltd) has given us two projects including ‘beverage purchase preferences of consumers’ and they want to “understand the market potential of lactose free milk”.
Similarly, the TV18 group wanted to understand what content people expect from a regional channel, the Central Bank of India wants to have its perception analysis mapped among different income groups about the services they offer, another portal MBAskool.com wanted to know about content development revolving around a new section they wish to launch while the brand Everyuth wanted to understand consumer behaviour in the facewash category.
One of India’s biggest Fast Moving Consumer Goods (FMCG) company- HUL wants to increase penetration in conditioners, while the car-hailing service company Uber wants to understand consumer preferences in transportation services. Another start up firm FoodTropis wants to understand what marketing strategies to employ for their upcoming food-tech start-up, while V&S Publishers wants to understand customer perception for non-fiction content.”
The conclave also witnessed speaker sessions with Ashish Mishra, MD of Interbrand, A. Murugananthan- a social entrepreneur from Coimbatore and inventor of a low-cost sanitary pad making machine, cultural performances, a workshop on how to break into the minds of customers by leading Consumer Minds by AC Nielsen and ‘Disconnect’- a flea market for designers among other activities at the fair.
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