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Mindshare and Brand Equity 2010 held a one-day summit called ‘Marketing 3.0: one to one and one to billion!’ to address critical challenges for marketers, as we step into the new decade. Speakers from various walks of life were invited to highlight the major issues and debate over the best options
With changing times, the dynamics of marketing have changed drastically. Marketers today, have to keep evolving their designs, models and strategies to suit the ever demanding and larger consumer base. It is now the age of consumer created brands and the shift is from market penetration to consumer connect.
The summit was held on February 8, 2010 at Taj Lands End, Mumbai, keeping in mind the changing scenario and experts and people who are at the top of the corporate ladder were invited to share their views and debate over the best options that can be possibly used.
The chairperson for the conference was D. Shivkumar, VP and MD, Nokia India Pvt Ltd. The days of independent growth are over and most brands will need to seek the concept of dependent growth to grow in the future. Dependent growth means sacrificing something that was sacred a few years ago. This is the age where you have to make sure the consumer keeps coming back for more to you only, in the words of Sonali Krishnan, Editor ET Now and moderator at the event, “The mantra is ‘seduction’, how you can seduce the customer so that he keeps coming back for more and only to your product.”
Five major marketing issues were addressed during the summit:
- Word-of-mouth marketing as a successful communicating tool.
- Total brand experience, a 360 degree approach to marketing.
- Marketing in compressed consumer times.
- The culture of innovation marketing.
- Ecosystem marketing.
The summit was graced by many known names in the corporate world. The one thing that all these head honcho’s agreed on was that marketing strategies in the first decade served its purpose. The next decade however will be the truest test of the sharpest marketer’s and success will be how much you can understand your customer and respect his time and money.
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