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Experiential Marketing and Swadeshi Movement in India

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Experiential Marketing in recent years is catching the momentum and more companies are gearing up to start such campaigns to attract consumer’s attention emotionally, practically and rationally. Its aim is to create some kind of connection between a product and consumers. It allows consumers to respond to a product emotionally and/or practically. Experiential marketing campaigns need to be creative and ad campaigners must be aware of their target audience and site locations.

Gone are those old days when advertisements used to be jingles or mere a poster, now there is a steep increase in the number of television ads which involve the viewers emotionally, either through their sense of humour or by leaving tears on their eyes but still getting a positive attention towards their product. However, experiential marketing is not restricted to the television ads, but various campaigners have used their creativity to attract the consumers to their product by allowing them to interact with the advertisement in the physical world.

Some Interesting Examples of Experiential Marketing

 

One of the recent and very popular experiential marketing campaign was executed by Coca Cola in National University of Singapore. A vending machine was installed which would give a free can of Coca Cola when hugged tightly, this became very popular with students of the university and the campaign became very popular worldwide that almost all the major business and news journals covered it. It was a creative idea implemented by Oglivy and Mather of Singapore for the cola company. Leonardo O’Grady, ASEAN IMC director of the Coca-Cola Company explains: “Happiness is contagious. The Coca-Cola Hug Machine is a simple idea to spread some happiness. Our strategy is to deliver doses of happiness in an unexpected, innovative way to engage not only the people present, but the audience at large.”

 

coca cola hug machine
Coke Hug Machine in National University of Singapore, Source unknown

World renowned automaker Volkswagen surprised newsreaders in India on 21st September, 2010 by giving them the first of its kind experience of a talking newspaper. As soon as readers opened the Times of India or The Hindu newspaper; a light sensor would activate a recorded advertisement announcing the arrival of “a perfectly engineered car” – the Vento. It not only did help Volkswagen, but also the newspaper companies which received appreciations by the readers. This creative idea was implemented by DDB India. Speaking on this, Lutz Kothe, head of marketing & PR, Volkswagen Passenger Cars, Volkswagen Group Sales India, said “At Volkswagen, innovation is a way of life, it extends beyond our cars to even the way we communicate which reflects in this initiative.”

 

BBC see both sides of the story
BBC World ‘See both sides of the story’ ad

 

BBC started utilizing the corner walls for their campaign “See both sides of the story” this advertisement literally allowed the public to see the two sides giving the message that BBC has an unbiased approach and covers both the sides of the news from every point of view.

 

Folgers coffee street ad
Folgers Coffee Street Ad
Folgers coffee in New York City turned ordinary man holes into steaming cup of hot coffee. In the busy city like new york where finding a banner space to showcase your ad is also difficult, Folgers came with an idea of using man holes for their advertisement campaign. Which no one would have ever thought of before, it is not just extremely creative, but it is also impossible to be missed as millions of people walk on the streets of New York everyday.

 

duracell escalator ad
Duracell Escalator ad

 

Duracell used the escalator’s base to advertise their batteries. The campaign involved placing a 3D sticker of Duracell batteries showing as if the escalator is being powered by their batteries. This gives an impression of the high power and potential of their product, although it may not be possible to power a whole escalator with a pair of two standard AA size battery cells.

 

While all over the world innovative ideas have been coming up to create a difference on how consumers behave towards their product, Television ads have reached a new high in attracting consumers with their all emotions involved as people cannot interact as much physically as in real life, the only scope for the advertisers is to directly strike consumer’s passion and emotions.

Swadeshi Movement Connection

 

In India, Indian companies have been using experiential marketing with the formula of their national identity. Time to time companies create advertisements to make Indian consumers aware of their Indian origin. Such campaigning idea has its roots in Swadeshi movement. It was a movement to weaken British Empire in India economically and create better economic conditions within India and Indian people by abjuring English products and using only Indian made and Indian origin products. As described by Mahatma Gandhi, the movement was of utmost important  for swaraj (self rule). The movement was mainly propelled by Aurobindo Ghosh, Lokmanya Bal Gangadhar Tilak, Bipin Chandra Pal and Lala Lajpat Rai who were full with enthusiasm and anger after the partition of Bengal.
People gathered and burnt all the imported clothes and products they had, they boycotted buying any foreign product, even imported sugar. Local industries, handicrafts, small scale workers and farmers gained a lot, creating a better integrated economic structure among Indians and demoralizing English rulers whose one of the main purpose of being in India was its market.
Indian companies are still active in tapping that general mindset among Indian people and making them realize their greatness as their products are of Indian origin. It could be another form of experiential marketing as it is only on television, but still allows consumers to interact with their emotional senses. Watching such advertisements on television, consumers are able to connect to those times when their ancestors or they themselves had struggled to get rid of the foreign rule. It fills the public with enthusiasm, patriotism and passion and allows them to better interact emotionally with the product.
Today almost all the major Indian brands have harnessed the potential of Swadeshi movement in the current scenarios. Videocon coming with the tag line “Indian Multinational” in their ads became very famous at the time when Indians realized that the country is moving ahead with a very fast pace. Indian actor Shahrukh Khan would appear on the television sets and say “the Indian Multinational”.
An Indian man would appear on the television screens flying from India to the different countries showcasing the cultural icons of those countries, chanting “vande matram” Aditya Birla Group came up with the tagline “Taking India to the World”, making Indians realize the value of their company how they are making the brand name “India” more popular in the world.
TATA group came with an advertisement showing a little girl how proud she was to see an Air conditioner, which is still out of reach from for many Indians living in Indian villages. The girl insists on Voltas Air conditioner’s Indian origin and says “India ka AC” (Air conditioner of India). Voltas air conditioners are considered to be cheaper, more efficient and powerful.
When India opened its doors for the international companies after liberalizing its economy in favour of globalization in 1991. There was a fear that local Indian companies might lose in competition with the matured brands from the developed world. However, today almost in any sector Indian companies are able to outperform their foreign counterparts. There are many reasons for this, one being that Indian markets were opened quite at later stage when government had realized that Indian companies have got matured enough. But one of the major reason is also that Indians of today’s generation have started preferring India brands once again which is indeed because of such advertisements that connects people to Swadeshi movement.

Taking example of the auto industry, three out of top four auto companies in India are Indians by their market share. Leaving behind other companies who have a great foothold all over the world.

  1. Maruti – 40% (India)
  2. Hyundai -13.88% (South Korea)
  3. Tata – 13.12% (India)
  4. Mahindra – 7.89% (India)

Source: rediff.com

Recently India observed telecom revolution, which has penetrated even the remotest parts of India, this was due to the result of aggressive competition between government-private and private-private companies. Today almost all the big names in India like Tata, Aditya Birla Group, Videocon, Reliance, Bharti are in telecom business. Again among the top four mobile carrier services in India, three are Indians.

  1. Airtel
  2. Vodafone
  3. Idea
  4. Reliance
When it comes to bank, Indian banks receive tough competition from global players like Citibank, HSBC and Deutsche Bank, however when it comes to the best banks in India including foreign and domestic, all top seven positions are occupied by the Indian ones.

 

best banks in india
Source: Business Today

 

Experiential marketing is anything that allows users to interact with their products either physically or emotionally. Some creative campaigns can become so popular that they might start attracting consumers out of the targeted area bringing more profit, revenue and popularity. Implementing such creativeness could be costly, but if researched and analyzed properly, it can bring good results, especially brand popularity and name.

 

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Sanskar Shrivastava is the founder of international students' journal, The World Reporter. Passionate about dynamic occurrence in geopolitics, Sanskar has been studying and analyzing geopolitcal events from early life. At present, Sanskar is a student at the Russian Centre of Science and Culture and will be moving to Duke University.

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Improving Your Business Should Always Be Something You Are Aiming For

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Your business is your top priority. It’s something that you built from the ground up, and you want to make sure that it stays safe, right? To do this, you have got to be trying to constantly improve it so that it remains competitive with the others in the industry. It’s not always easy to work out how you can improve your business, so we’ve come up with some ideas that you can consider. Not every single one is going to be necessary in your business, but we can guarantee at least one will be. Keep reading if you would like to find out more.

Your Employees

The first thing that you want to think about is your employees. If they are not pulling their weight, they are letting water onto the ship. Do you know what happens when too much water gets onto a ship? It sinks, and this is not what you want for your business. It’s for this reason that you need to keep an eye on your employees, conduct regular performance reviews, and watch what everyone is doing, especially if you think that someone isn’t pulling their weight. If you do find someone not doing their job properly, you have two options. The first is that you speak to them, find out what is going on and give them a chance to improve. The second is that you let them go and hire someone who is going to give your business 110%.

Your Software

Another thing that you are going to need to think about is the software that you use in your business. There are softwares that are dedicated to specific industries, such as revenue cycle management software which is used for hospitals mainly. The point is that you need to work out if there is any software that is going to make your business life easier. Is there something that can make your employees jobs that little bit less complicated? Is there something that will make your business more efficient? Take a look and find out.

Your Customer Service

Finally, your customer service is essential. For some reason, there are many business owners who are of the opinion that customer service is just an add on of sorts to a business, but this couldn’t be further from the truth. In fact, your customers are the very heart of your business, and you wouldn’t survive without them. As such, if that means that you have to spend extra money on providing the perfect service for them, that is what you need to do. It’s important, don’t let anyone tell you otherwise.

We hope that you have found this article helpful, and now see some of the things that you should be aiming for in order to improve your business. Keep in mind that if you stop trying to improve, things are going to go wrong for you quite quickly. Try to think of your business as a shark, it needs to keep moving forward or else it won’t survive.

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The Green, Orange, And Red Lights For New Investors 2021

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Traffic Signal

The first time the world of finance heard about the new coronavirus outbreak was on 7 January 2020 when the World Health Organization identified the health crisis in China. Two months later, the virus had “traveled” to over 110 countries. The disruption to international trade and activities put a lot of pressure on the global financial markets. As a result, investors noticed struggles with equities products, traditional safe-haven assets, and forex pairs. The pandemic led to financial panic at a global level. 

The delayed reaction to the pandemic can be traced back to the period between January and March 2020, where investors carried on trading with a risk-on attitude. By March 2020, the outbreak had spread to several countries, affecting the trading approach. Previously confident investors became uncertain, which caused panic behaviors. Volatile financial markets took a dramatic hit; global commodity, equity, currency, and bond markets plunged to record lows. 

One year on, new investors are wondering how to approach the financial markets. Which are the green, orange, and red lights for new hobbyist investors to navigate their portfolios?

Green: Real estate

The real estate market has been affected by the pandemic. Commercial buildings, especially, have been vacant for the best part of a year. Lockdown, work-from-home, and other restrictions have made it hard for business offices, shops, and venues to thrive during the pandemic. However, the real estate market is bouncing back with house sales and innovative construction projects. These are essential to the economic recovery, which will pave the way for new investors. A buy-to-let within an innovative building can turn into a profitable source of revenue. Additionally, house-flipping will also prove one of the winners at the end of the pandemic, as loans become more accessible and house prices continue to rise. 

Orange: Forex

It’s good to know that naturally volatile markets, such as the foreign exchange currency market, are expected to recover thanks to the arrival of new investors. Indeed, forex brokers are actively supporting the self-employed workforce that the pandemic has created. Individuals left unemployed or on furlough during lockdown embraced entrepreneurship. They are solo business owners, contractors, consultants and do not trust bank institutions with their money. The renewed activity will support forex recovery. Some currencies have recovered from the losses of 2020, so investors can confidently look forward to gains. However, targeted market analysis and full access to forex signals with a trading platform such as MetaTrader 5 are essential to improve the precision of your trading operations. 

Red: Stock market

The stock exchange market reflects global uncertainty. Some stocks and shares have fallen throughout 2020 and gradually gaining their value back. However, not all have managed to secure their recovery. Therefore, unless you are an experienced stock and share trader, you want to stay away and observe. Big names, such as Harley-Davidson, are not expected to have any favorable growth in the coming months. Energy giant National Oilwell Varco is also reported to decline throughout 2021. The bottom line: Wait and watch for now. 

New investors need to arm themselves with patience and caution in 2021. Real estate remains a safe market for an investment portfolio, but investors need to be creative about their choices. Forex is recovering, yet not all pairs are back to their previous reliability, so you want trustworthy signals and analysis. Stocks and shares trades get the red light for inexperienced investors for the time being. 

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Strategies To Help Your Business Discover New Markets

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business strategies new market

When entrepreneurs set up a business, they tend to focus on a particular market. This is the area in which you will sell your products/services, usually focusing on a particular target market. It’ll include a specific type of customer that you think suits your business the most. All of your work will revolve around targeting this market and selling to it as best as you can. 

Often, your business will consider discovering new markets as well. This tends to happen after you have experienced some success and are looking to grow/expand. Discovering new markets means that you find new people to sell to, drawing in lots of new customers. In turn, this will expand your customer base as you have your old market, plus the new one. 

Venturing into new markets isn’t always easy. For one, you have to find a way to tap into this new market without neglecting your old one. Otherwise, you just won’t see any growth – the new market customers come in, but the old ones leave! With that in mind, here are some strategies to help you:

Diversify your products/services

As you move through these strategies, you’ll see there are a couple of ways to encounter and discover new markets. The first is by focusing on what you offer the customer. This is a fantastic way of uncovering new markets within the same geographical region that you currently cover. Therefore, it’s excellent for more localized businesses. 

In essence, you start developing new products/services that target a slightly different market to the ones you already have. Thus, you draw more people to your business who otherwise would never have been interested. At the same time, your new products/services should still relate to your business. For instance, you run a marketing agency that offers SEO and PPC services. Why don’t you also add social media marketing to the mix? It’s a form of digital marketing, it fits with your brand, and you attract a different stream of customers. 

Don’t start adding random services or products that don’t relate to your company at all. It leads to all sorts of brand identity issues, and it needs to be avoided. If you want to start selling something completely different, start another business!

Target a different geographical area

Uncovering new markets doesn’t just mean finding new customers in your local area. Another approach is to target the same demographic, just in a different location. Essentially, you move your business operations to a new place and target the people in this new area. 

It requires a decent amount of effort and research, but it can work extremely well. A lot of businesses will open satellite offices to achieve this, basically opening up a new branch of their company in this new location. Finding the ideal location is one of the main things to consider with satellite offices, ensuring you have a new market to target. Once everything is set up, you can basically run similar ad and marketing campaigns as before. Technically, your demographic hasn’t changed – you’re offering the same products/services, targeting the same customers, just in a new place. 

Another way to target a different geographical area is by going online. Starting a website means you open yourself up to new markets from all over the world. Of course, you have to think about the logistics behind this – as well as the additional costs of selling overseas. 

Play the educational angle

Lastly, you can find new markets by playing the educational angle. Instead of selling products to people, sell knowledge! This will help you reel in a select group of people that aren’t necessarily interested in buying what your business sells but are keen to learn. 

For example, you could start a blog or YouTube channel where you provide tips and tricks relating to your expertise. People can watch these for free, and you can monetize the content with adverts, sponsorships, etc. Then, you could even offer paid educational resources that go into more detail on certain topics. But, at this point, you drift back to the first idea of diversifying your offerings. When you provide free educational resources, it’s completely different!

You see, discovering new markets is tricky business, but it can be done. The advantage of doing this is that it enables you to find new customers and make more money. All the while, you’re maintaining your original customers, meaning your business is bound to start growing. There is only so much you can achieve when you strictly target one market – if your business starts to stutter, it could be a sign that new markets must be reached.

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