|
Market Segmentation & Targeting
Customer Next: Marketing to the Aged
-- Sarika Tondon
The world is aging rapidly. The percentage of people in the 60 + age group is projected to increase from 10% in
1999 to 22% by 2050. The total population in this age group will increase more than three times over these five
decades. Unlike in the past, the aged population, particularly in the developed countries and even those in the
upper socioeconomic classes in the developing countries, are no longer dependent on others financially, physically
or emotionally. Many of the elderly are well-to-do, are in fairly good health (thanks to improved medical facilities) and
also have a zest to enjoy life. This has provided immense opportunities to marketers, particularly those operating in the
fields of healthcare and health foods; physical fitness and exercise; travel and leisure; and also media and entertainment,
to cash in on this segment's needs.
© 2008 IUP . All Rights Reserved
Medical Tourism
Medical Tourism Process: Visa and Allied Formalities
- -
Mala Sheth
Medical tourism is gaining popularity and India has emerged as a preferred destination. While many foreigners
desire to undergo medical treatment in India, the prospective patients, and even the Indian doctors and hospitals are at
times unaware of the formalities to be fulfilled. Also, the doctor could be apprehensive regarding the consequences in
case something went wrong during the treatment. This article throws light on the procedures to be followed in such
situations by the international patient, the doctor and the hospital.
© 2008 IUP . All Rights Reserved
CRM
Customer Relationship Management: Free and Open Source CRM Software for SMEs
- - Rajiv Joshi and Xitij Shukla
This article explores various dimensions of Customer Relationship Management (CRM) and identifies key
marketing processes which can be automated with CRM solutions. Further, customer relationship and customer life
cycle management are discussed along with focus on customer lifetime value, customer-centricity and its importance
in present day business organizations. Small and Medium Enterprises (SMEs) face several challenges in
the implementation of CRM. This article discusses some free and open source software products that are available,
which SMEs can use for enhancing marketing effectiveness and profitability.
© 2008 IUP . All Rights Reserved
e-Commerce
Making Markets Online
-- Subhasis Ray
Market-makers are companies that create place, rules and infrastructure for trading. Stock exchanges and
auction houses are examples. On the Internet, we find similar companies like eBay. Market-makers provide value by way
of supply chain integration, transaction cost savings and offering a payment gateway. They earn revenue from
transaction fees, mark-ups, subscription, data sales and systems integration consulting. In order to become successful
market-makers, Indian companies have to match the value created with the revenue generated.
© 2008 IUP . All Rights Reserved
Cover Story
Store Brands in Organized Retail
- - Kisholoy Roy
Gone are the days when store brands or private labels were considered cheaper alternatives and copycats of
national brands. Across the globe, store brands have now become a potent weapon for retailers to create differentiation
and strong customer loyalty. They also enhance category profitability and negotiation power of retailers. In India too,
the significance of store brands is fast increasing. It is not just the food and grocery retailers that are developing
private labels in order to cater to regional palates. Apparel retailers like Pantaloons and Shoppers' Stop are also
developing their own clothing lines. In all, the prospect for store brands looks quite promising as they seem to be an
attractive proposition, not just for the retailers but also for the customers.
© 2008 IUP . All Rights Reserved
Rural Marketing
Understanding Rural Markets: A Competitive Edge in Tapping the Potential in Rural India
- - V V Seshamohan, M S Narayana,
S Ramesh Babu
Marketing in rural India involves a complex mix of factors such as social, historical, cultural, technical and
economical. Marketing in rural areas needs an altogether different strategy as against marketing to urban
consumers. Understanding the psyche of the rural population and their behavior is of great importance to marketers to
fine-tune their product offerings and to be successful in rural areas. Consumer durables play an important role in the lifestyle
of any consumer whether he belongs to rural or urban areas. Two-wheelers and televisions in particular are fast
moving goods in rural areas. Hence, a study relating to the decision-making process of purchasing a two-wheeler in
selected rural areas of Guntur district in Andhra Pradesh was undertaken and the findings are presented.
© 2008 IUP . All Rights Reserved
Sales Management
Application of the Six-Sigma Concept in Sales
- - R Arasu and N Sivasankaran
This article explores the scope for applying the six-sigma concept in sales management. The issues and
challenges faced by sales managers in handling the sales force are discussed along with the possible remedies. It is suggested
that the remedial measures can be implemented more objectively and effectively using the six-sigma concept.
This management concept, which originated from Motorola in the 1980s, was initially applied only in the
manufacturing environment for improving the quality of production processes.
© 2008 IUP . All Rights Reserved
Case Study
Galaxy Sleepcare Limited
- - Rajan Mani and Mohandas J Menon
This case study highlights two issues pertaining to sales management: (a) While building and
nurturing relationships is important, can reliance only on the relationship supplant a professional approach?
and (b) A salesperson who is responsible for both institutional and individual sales in an area often faces
the dilemma on whether he should go after one big ticket order or focus on small regular dealer orders.
The dilemma gets sharpened when a big potential order, which requires lots of nurturing in terms of
time, looks like slipping out of one's grasp.
© 2008 IUP . All Rights Reserved.
Emerging Trends
Turning a Cost Center into a Profit Center
- - Manishankar Chakraborty
Organizations are expanding their horizons as the world is becoming a global village. At the same time,
operations across the world are being emended from time to time, as the business dynamics are fast changing. The need
for transforming one kind of operations to another is being felt by companies across sectors. This article tries to
decipher the need for changing cost centers into profit centers and the imperatives for making a successful transformation.
© 2008 IUP . All Rights Reserved.
INDUSTRY
FOCUS
Solar Power : The New Sunrise Business
- - Ratna Vajjhala
Amidst the ongoing concern about the effects of global warming, the world is going green by switching to
alternative means of energy, particularly solar energy. Technological developments leading to reduced costs and increased
power generation efficiency could make solar power a viable alternative for the future.
© 2008 IUP . All Rights Reserved.
Company Focus
Hindustan Unilever Limited : Proactive Measures to Face Competition
- - Mohit A Parekh
Many organizations build excellence and achieve great success in the short-term. But
later in their life cycle, they fall prey to competition and accept this as a matter of fate and
a natural process. Only a few organizations believe that destiny is what they choose to
be, and that competition can be identified much before it can become a major
threat. Recognizing and tackling competition, which is direct and obvious, is easy. But it is
very difficult to identify a competitor who is not posing any obvious threats. Here, we study
the example of Hindustan Unilever Ltd., which is adept at recognizing and
successfully responding to the non-obvious kind of competition, thereby chalking out its own
destiny. "Destiny is what you choose, not a matter of chance."
© 2008 IUP . All Rights Reserved.
Marketing Strategy
Some New Thoughts on Marketing Strategy
-- S N Ghosal
Liberalization and globalization have opened up opportunities to develop competitive edge and innovative strategies
to excel and survive amidst the fire of intense competition. While the Blue Ocean strategy offers one possible
alternative, the author suggests a new development strategy to minimize the risks associated with adopting purely a Blue
Ocean approach.
© 2008 IUP . All Rights Reserved.
| 
