IMS Noida Organizes 3rd International Conference on “Creating Sustainable Business Through Innovativ
Organization: IMS NOIDA
Venue: Parkland Prashant Vihar
|Event Date/Time: Dec 06, 2013 / 9:00 am - (GMT +5:30 hours)||End Date/Time: Dec 07, 2013 / 5:00 pm - (GMT +5:30 hours)|
|Abstract Submission Date: Nov 01, 2013|
|Paper Submission Date: Nov 10, 2013|
In view of the fast changing marketplace, continuous introductions of new technologies and competitors’ inexorable growth, the future which used to be "more of the same", today, it's more likely "something different every day." Marketers in many industries know that innovation through new product development is vital to remain competitive. But product decisions are not the only areas affected by new developments. Innovation can affect almost all marketing areas and setting an eye on these areas helps to retain existing customers and also to attract new customers. Although the goals of marketing haven't changed, the focus has shifted. Companies today need to understand how to sustain competitive advantage by co-creating experiences of value with customers. The web has made effective marketing less about establishing links between customer needs and vendor solutions and more about iterative, consultative conversations between buyers and providers. Perhaps the most obvious evidence of this evolution is the spectacular growth of social networking. Companies large and small are leveraging (or attempting to leverage) social media to target, engage and retain customers and to optimize their approaches to these efforts. Few people today accept direct call in interrupting their busy schedule. It’s not only disruptive but annoying. Companies are fast realizing that they can’t build brand through cold calling and mass marketing. Death of cold calling has prompted the innovation and thus evolved concept of “CLOUD MARKETING”. With the world facing recession the idea of using a usage-based model of technology that doesn't require a capital expenditure and instead uses “pay for what you use” service makes business sense. The cloud is fundamentally like using a utility service and paying monthly for the exact usage. The challenge today is to develop sustainable businesses that are compatible with the current economic reality. In spite of the income imbalance between urban and rural India, rural holds great potential since 70% of India's population lives there. Due to the recent government measures like waiver of loans, national rural employment guarantee scheme and increasing minimum support price, disposable income in rural India has been rapidly increasing. FMCG companies are relying on unconventional distribution channels to up its rural reach in a cost effective manner, and create category usage for bottom-of-the-pyramid consumers. Another phenomenon which is gaining strength is ‘Reverse Innovation’. This is innovation for the needs of customers in poor countries. ‘Glocalization’ is innovation that is meant for [developed] world customers. The fundamental driver of reverse innovation is the income gap that exists between emerging markets and the developed countries. In the networked world, firms are recognizing the power of the Internet as a platform for co-creating value with customers. The Internet has impacted the process of collaborative innovation—a key process in value co-creation, a platform for customer engagement, including interactivity, enhanced reach, persistence, speed, and flexibility. The Conference will deliberate on the several innovative Marketing models which are expected to create sustainable business.