The word ‘news’ came from the word new. Ideally, news is supposed to be information that is new or interesting for the readers.
The kind of news people read or prefer has changed massively in the recent past; but one thing that remained unchanged is that we read news that substantiates our opinion. Have you ever consumed news that challenges your pre-construed believes? If not, then you are just trying to make yourself feel better.
Ideally, news provides information to people, who then form their own opinion. But very few organisations have actually managed to stick to that rule. People are more likely to read an article if it supports their belief, rather than focussing on different perspectives.
It is like saying, I cannot wear jeans if I like comfortable clothes. I might like both, or wear jeans once a while. Normalising opinions is extremely important. We try to find comfort in news, which is a wrong way to consume news.
The problem of reading preferred news has grown since the advent of social media or digital communication. Because of SEO (Search Engine Optimisation) and Keyword Analytics most of the content we see online is what we like or looked for.
Most information that goes viral or is ‘trending’ on the internet, is an incomplete story. People do not try to understand the opposing views or even look it up. The psychological impact is such that it leads to anger and frustration.
It is okay to not agree with someone’s opinion, but it is also very important to listen first. When we listen, we think; and when we think we compare. Thinking about different opinions generates a lot of questions and hence an opinion.
The job of a media house is to provide news, but if that news is true or incomplete is for us to decide.
Interactive Marketing is one the most effective form of marketing. The campaign has to be personalised and relevant to the customers which is why it is more direct in nature.
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I thought that my voyage had come to its end at the last limit of my power, – that the path before me was closed, That provisions were exhausted and the time come to take shelter in a silent obscurity. But I find that thy will knows no end in me.
No, todays blog isn’t about Rabindranath Tagore’s Geetanjali, but this is how Paulo Coelho begins his book ‘Hippie’. For Paulo Coelho, Rabindranath Tagore has been a major influence; he even wanted to title this book: And Where the Old Tracks are Lost (from the above poem), but then changed his mind as he realised that the meaning might get lost in translation. With Hippie, Coelho takes the readers on a special journey of travelling the world and learning different kind of religions and cultures .
Hippie has Coelho, a young and skinny Brazilian, sporting long, flowing hair and a goatee—undertaking a journey from Bolivia to Peru, Chile and Argentina, and then on to Amsterdam, where he chances upon Karla, a young girl looking for a travel companion to Nepal. The two take a ‘Magic Bus’ across Europe and Asia to Kathmandu. The journey shows their relationship, and the readers also get to know about the other travellers on the trip.
The readers soon find Karla falling in love with Paulo, who prioritizes his exploration of Sufism. “I never thought I would be capable of loving someone the way I love you. I am going to love you for the rest of my life,” Karla confesses to the author. He decides to stay back in Istanbul, while she continues her journey to Nepal. Hippie isn’t a quintessential story, but a series of lessons about love, spirituality and culture from Coelho’s personal experience. The book didn’t interest me in the first read, but it had a long withstanding impact on me.
This was the first Coelho novel I read, but a lot of his avid readers say that Hippie isn’t like any of his previous work. Of course choosing spirituality over love is typical Paulo, but the journey was different.
Destiny, stars, signs etc; words like these seem privileged to me. But if you are someone who believes in destiny and that the Universe is planning something for you, then this movie is for you.
Directed by Peter Chelsom and written by Marc Klein; the title of the film ‘Serendipity’ perfectly summarises the idea behind the movie. “It’s a nice sound for what it means, a fortunate accident,”says Sara. Serendipity means a fortunate accident, which a lot of us have faced but did you try to make a meaning out of it? Sara (played by Kate Beckinsale) believes in signs and therefore leaves everything on Destiny. She decides to write her number down on a book and leave it at a store, and if Jonathan (played by John Cusack) receives it she’ll know that they are meant to be together. She asks Jonathan to do the same with a $500 note.
Sara and Jonathan met at Bloomingdale’s while shopping for Christmas. Ironically, both of them liked the same pair of gloves for their individual partners. In this particular scene, there was no awkwardness but there was a strange sense of familiarity between the two characters. While they fought for the same gloves with someone else, they were ready to sacrifice it for each other (Yes! On their first meeting).
The story takes a strange turn when destiny (as Sara would say) doesn’t favour them and they do not see each other for years. When Jon is engaged to Halley (Bridget Moynahan) and Sara to Lars (John Corbett), a jocular New Age musician, their feelings overwhelm. Both of them (with help of their best friends) decide to find each other and start looking for clues.
Despite being only 1 hour 30 minutes long, the story seemed a little stretched out to me. Instead of showing the hardships the characters faced to meet each other; I think if their emotions were prioritised it would have been more insightful for viewers. Sara and Jon were a little complex as characters and therefore perfectly represent a modern youth or adult.
Towards the end of the movie, when Jon goes to Brooklyn to find Sara, he lays on the grass with his friend (Jeremy) and realises that he’s laying there because he doesn’t want to be somewhere else (his wedding). Sara also agreed to marry a guy she doesn’t love. The movie didn’t show how they ended their individual relationships, probably because it would divert the story line and characters. Both Sara and Jon were unapologetic about their feelings, they knew their was something different and rare between them.
The film had great characters, the one thing I felt could have been better is the story line. Although, the story is about a fortunate accident ; the fact that both of them are trying so hard to make that ‘accident’ happen makes the whole idea of ‘Destiny’ hard to believe.
This blog is about something we all think about, but never really talk about it. We all know that Ecommerce has eased our life, and provided us more time. Especially in a time like these, were social distancing is the only way to go, Ecommerce is a blessing. Today, we shall count our blessings (along with the disadvantages).
Advantages of E-commerce on consumers are:
Huge Range of products/services to choose from- Debate me! If you think this isn’t true. I think I have changed a lot of products after I bought them online. I discovered better products at cheaper prices, the cherry on top are the reviews people write based on their experiences.
Easy Returns – If this isn’t an advantage, I don’t know what is. Especially while shopping apparels, there have been instances when I did not like what was delivered to me. So, I returned them.
Saves time – Time is money. There is so much to do, even when there’s nothing to do. Ecommerce saves us the time for going out, shopping and coming back. It reduces it significantly.
Reduced Prices – Sales, discounts, festivals, weekend sales etc helps us get great products at greater prices.
24/7 Access – You can shop in the middle of the night or on Sundays too. It is never closed. This advantage is something we never really pay attention to, but imagine a store were you get EVERYTHING, and it is never closed.
Disadvantages of E-commerce on consumers are:
Unable to personally examine the product – Even though you can return things you don’t like, not being able to personally examine is a disadvantage. Also, the returning policy of every Website is different.
Delays in receiving order – There might be a time when you need a product/services but it’s not delivered to you. So, going to a store and buying might make more sense in case of urgency.
Lack of personal interaction – Personal interaction while buying online is none. This reduces the trust factor associated with the product.
Quality – Appearances online may often be deceptive. You may order Apple and receive Peaches. Or you may order gold but get silver.
Fraud – Since it is practically accessible to anyone, Ecommerce increases the risks of fraud. Frauds related to identity, website, payment etc. have witnessed an increase in the recent past.
If I had to drink water each time I read or heard: ecommerce, online, online shopping, or even Amazon; I’ll be drinking more water in a day than I possibly can in a week. Yes, that’s the amount of time these words come up in conversations or news.
Have you ever noticed how much time you’re spending online, making wishlists, scrolling or buying things you don’t need because ‘it’s a great deal’ and ‘you might not get them again’? If not, do it. Try to analyse the social changes you’re facing due to Ecommerce (drinks water).
Let me help you here, try to think of one need E-commerce cannot cater to. You have time. Could you? No, right? That is because E-commerce can cater to every single need of an individual from birth to death. Yes, even death. Now you must be wondering, how does Ecommerce impact our social life? The answer is simple, think ‘mobile’. The most recent data indicates that people spend an average of 3 hours and 15 minutes on their phones.
In the recent times, a lot of people have shifted to buying online for safety concerns (understandable) , but how will you explain the time before that? You can’t. Amazon’s sales rose by 20.5% in 2019. The biggest advantage for e-commerce brands like Amazon is that it can affect the psychology of the consumers. They have every possible advantage to influence a consumer.
Did you ever realise how Ecommerce has changed dialogues or meaning of words? Buy means ‘order’ now, cab means ‘Ola/ Uber’, sale means ‘online sales’, text means ‘Whatsapp’ (out of context I know, but you get the point). When was the last time you did not use E-commerce or M-commerce? I’m sure you will have to think about it, and there’s a possibility you might not recall any such time. Don’t worry, we are all on the same boat.
My social life has had a huge impact due to E-commerce and M-commerce, although I am Gen Z so I don’t really remember the time before E-commerce. I understand it because I have noticed how it has evolved, and taken in all my social interactions and turned it digital. Now, the only ‘social interaction’ I have is with an AI. That’s a different conversation altogether. I don’t talk to anyone apart from the same 4-5 people I live with.
E-commerce and M-commerce has made shopping easier and more convenient for users. Earlier we used to go to different stores to buy one item, now all we need to do is ‘Google’. It’s all a click away. The market place is global and there’s a 24 hour access. So this store is never closed! What else can we need?
E-commerce and M-commerce have its disadvantages, but we cannot deny the advantages too. It has made our lives easier and saved a lot of our times. Especially people who have to manage work and home, Ecommerce is a blessing for them.
Price is the amount of money used to signify the real and perceived value of a product/service. Each product is valued in terms of money.
Pricing is extremely important because it helps the consumer decide the products ‘worth’. It also helps the consumer to decide whether or not the product is under their purchasing power. For example, for a middle-class person buying a car worth a crore won’t be possible. It will be more than his/her financial status.
On the contrary, a product/service is priced keeping in mind their target customers, apart from the product. If a brand wants to portray itself as ‘premium’ , its price will be more than other products of the same category. Brands may adapt competitive pricing strategy, premium, skimming etc.
Pricing is the most important concept in Marketing because of the following reasons:
It is the only profit-factor
Bridge between all marketing efforts and actual buying
Key to selling/sales promotion
Trigger for first impressions to buying
Flexible variable among the 4 Ps
Price has a huge impact on brand identity and personality
Product – Price Value Perception
Product-Price Value Perception helps us identify the prices we have paid, and the amount of benefits we have achieved through that. It compares price with benefits, and helps us prioritise. Let us discuss products I have bought under each segment and why.
I have paid more in return of more benefits, for things I regularly use. For example Vaseline moisturizer, because I use the product regularly I wouldn’t mind paying more in return for more benefits. More price, same benefits? We all try to avoid this, but in case of urgency we all have paid more. I often find myself paying more for cabs, probably because I rely on them during those times. We all have been in situations when we forget to carry our own bottle of water and had to buy. Yes, I have paid more for less benefits, for a small bottle of water.
Paying less for more is the best situation to be in, isn’t it? But this doesn’t happen that often. I have paid less for more while buying clothes. Usually, during discounts brands offer ‘buy 1 get 1 free’ features to a few selective items. A lot of times, the prices of those products are less too. I was fortunate enough to be in one such situation. I have paid less for same benefits while ordering groceries online. We often see that Ecommerce platforms like Amazon offer everyday deals and reduce the price of the product, but offer the same benefit. In situations where we need the product but don’t use it often, we tend to pay less for less benefits. This happens when I’m trying certain products like hair oil.
Paying same for more is a beneficial situation too. I have paid same for more while purchasing Chips or cookies. Brands offer extra products at same price to attract new customers, very often. Newspaper is one product we don’t mind paying same for same benefits. A few years back, Cadbury reduced the size of Dairy milk but the price remained unchanged. I bought that for the same price I used to pay earlier but the benefit I received was less.
“Prince Charles, har koi paise se nhi maanta…kabhi persuasion naam ka word suna h?”, Said Harpreet Singh. Recently, I was watching the movie ‘Rocket Singh: Salesman of the year’, and it changed my perception of Sales completely.
Like many others, I thought that Sales requires a detail understanding of consumers psyche, and persuasion should be used as a tool. Both of which is true, but it is much more than just these two.
In the movie, when Harpreet joins as a salesperson in a big company, he looks at people trying to outnumber each other. In order to get extra sales, they have forgotten human emotions. He notices that they are trying to get more sales, and in the process snatching away anybody’s credit they find. This was a huge social as well as psychological change for someone new.
Despite all these when Singh tried to adjust, and perform his best, he was asked for a bribe. After refusing to pay the person illegally when he came back to his office, he was surprised to see how his bosses reacted. He couldn’t take in the fact that the one thing he was passionate about has so many flaws in it.
“Sales hi ek aisi field hai jismei number se zyada akal ki zarurat h”, he believed. But while working he realised that life is more than what meets the eye. He faced rejections, insults, was pressurized and even bullied; after which he finally decided to work for himself.
Another important thing I understood while watching the movie are people. Often, we tend to think people are mere numbers; we forget that they have emotions too. Instead of trying to trick them and ‘make profit’ out of them, our intention should be to provide them with best possible service/products.
In the movie, Rocket Singh understands that all Computer assembling companies are trying to gain as much as possible from consumers. Their way of reaching to the consumer is also corrupt. So he decides that Rocket Sales should not engage in any activity that can be labelled as ‘unfair’ to the consumers. He understands that most companies sell their products, but do not care about servicing. So he provides them free servicing, because if you aren’t confident about your product, why should a consumer be?
Like any other field, Sales has techniques too. It is important to understand what works when, and why. In the movie, Puri (Harpreet’s boss) followed the same process for decades. He did not realise the need to change, and when he did, it was already too late. Consumers are educated and aware, and you cannot fool them. It is a moral responsibility of every professional to value their consumers, and understand them at a psychological level.
Puri believed in bribing, and pursuasion, he thought it will work for everyone. He was wrong. For the first time, when he faced a competitor (Rocket Sales) providing everything he did and more, at cheaper price, he did not think it would last long. He was extremely confident with his way. But when he failed, he realised that his process was ‘history’ and that he needs to upgrade. He could not handle Rocket Sales’ clients and decided to return the company.
The movie also shows how ‘risk-taking’ is an important part of a Salespersons job. We see two types of people taking risks: one, who is paying bribes and the other, who goes all out to provide consumers with the best possible deals. Harpreet says, “Risk to Spiderman ko bhi lena padta hai mein toh phir bhi salesman hoon.” Ofcourse every salesperson has to take risks, but the kind of risks you take depends on you.
If you are a marketer, you must be knowing what Product life cycle means. If not, just break the words individually, product- life- cycle. In layman terms, ‘Product Life Cycle is a process that every product goes through from introduction to withdrawal. It has four stages – introduction, growth, maturity and decline.
In this blog, I will be discussing each stage with examples of products I have used. We will also be discussing why those products are in that stage. Stages of Product Life Cycle:
Source : Marketing Insider
Introduction : It is when a product is developed and is ready to be introduced in the market, for consumption or usage. This is the time when marketing and promotion is at its peak. The brands try to create an image of the product in the mind of the consumers. Since it is the first stage, the product might not be available everywhere.
Chings is one such brand which promoted itself extremely creatively. They made actor Ranveer Singh as the face of the brand. They used adjectives like spicy, hot etc; and came out with a range of products which were not only different but also appealing. I couldn’t get all the products but managed to try its sauces and soups as soon as they were available. Another brand I used in its introductory stage is Maybelline. I came across their advertisements which were targeting natural and effortless make-up, and was intrigued to try the products. The prices were also lower than other beauty brands like Lakme.
Growth : After a product is introduced and the consumers are aware, the growth starts. During this stage there is already conversations happening about the product, and consumers are increasingly buying it. If there are competitors in the market, the company may still heavily invest in advertising and promotion of the product to beat out competitors.
Swiggy came into the market as a rival to Zomato. Since everyone was already using Zomato, they waited for Swiggy to grow and then use it. So did I. I was reluctant to use it during the introduction stage, but after I heard good reviews I started using it. Google Pay (previously called Tez) is another example of a product I started using during its growth period. Although its parent brand is Google, I thought it’s better to wait for the product to do well, as I had privacy concerns. Once the product started doing well and came out with different offers I started using it.
Maturity : This is when product adapts to competitive pricing. Its sale starts to slow down or even drop in certain cases. In this stage, the distribution becomes intense and promotion focuses on the differences to competitors’ products. This stage might be short, but also extremely long.
Coca- Cola competed with Pepsi in the Indian market, after which it launched Thumbs up. The sale of Coca Cola started to drop because of extreme competition in the market. But because I liked Coca Cola more than any other soft drinks, I continued to buy it even at this stage. Udemy is an application that provides online learning classes for everyone. BYJU’s and Unacademy are already in their growing stage, which is why Udemy reached the maturity. During the lockdown, I did a certificate course from Udemy at a very cheap price. Because the course was well designed, I decided to go for it. The sale for both Coca Cola and Udemy started to slow down during this period.
Decline : Companies try to keep their products alive at maturity stage, because a product goes through huge loss at this time. Sales drop significantly and consumers demand for the product goes down. Unless a product is able to redesign itself, it is most likely to not survive in the market.
I came to know about Uber Eats when it was in its declining stage. The prices were really low, and the brand was trying to sustain by providing great deals and offers. It ultimately couldn’t sustain and was bought over by Zomato. Jabong was competing with Myntra, inspite of putting out great advertising it failed to capture the consumers. Both these brands are owned by big companies, therefore the quality of product was good, and they were able to give great discounts as well. Despite all these efforts none could survive.
PLC Analysis helps a company identify if their products are servicing the market they target, and when they might need to shift focus.
In the previous blog, we learnt about Product Life Cycle and how every product goes through it. But there’s a loophole. In certain cases, the product might cycle back into the growth stage after reaching the decline stage through strong promotion or repositioning; or it might stay in the maturity stage and never decline.
Under such situations, we apply the Product Life Cycle stages to styles, fashion and fads. Style is distinctive and lasts long. It is a mode of expression that shows several periods of renewed interest. For example Laptops, there might be better features available in laptops from time to time, but it would not fade away unless a completely different gadget with better features is introduced.
Products that qualify under the category of style, might turn into a necessity. In Ecommerce platforms like Amazon people might go occasionally, but it qualifies as style. It is been active since decades but people still opt to shop online for good deals and assured products. Consumers doesn’t like to feel left out, therefore they adapt to style (even if it requires a lot of effort).
Fashion on the other hand is extremely popular. It tends to grow and remain popular for a while, before declining slowly, like bell bottoms. Fashion is considered ‘trendy’, and is a talking point for quite some time. For example when Iphone came with multiple camera feature, a lot of brands jumped on the same boat. After a few years, the conversation around it suddenly stopped.
Just like style, even fashion is accepted easily by people. The most common example of fashion is when a show or a movie gets extremely popular, people try to speak like them, dress up like they do etc. But once the show gets over, we move to something else.
Fads are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity. Kindle, is an Amazon product, it was extremely in demand when it came out. But soon its demand moved down.
A lot of times when brands see their products failing, they try to keep it alive by marketing or price reduction. In case of well known brands, consumers might want to buy again at cheaper prices. But in case of FMCG goods, this isn’t possible. So the product ultimately vanishes from the market.
Shivangi 