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Annual General Meetings of PR Agencies

Hi Friends,

I plan to work on an article on the annual get together/AGMs conducted by PR agencies for their employees. For this I require inputs from two sets of respondents

1)      The management representatives of the agency, who plan these AGMs

2)      Employees of the agencies, who have attended such AGMs in their current or earlier agencies

Questions for the Management Representatives

1)      What are the objectives behind hosting an AGM for employees?

2)      What outcomes do you expect from the AGM

3)      Are the expectations met post the AGM

4)      Any interesting incident/learning derived from any of the AGMs that you share in detail?

Questions for the Employees

1)      With what objective you attend the AGMs organized by your agency?

2)      How do you think the AGMs help you in your working?

3)      Any interesting learning/incident that you can share about the AGMs you have attended in your career

Please share the responses as frankly as possible and as soon as possible

 
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Posted by on April 20, 2012 in Public Relations

 

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Future of Indian Independent PR Agencies

Recently I had an opportunity to visit the newly opened office of Adfactors PR, one of India’s largest PR agencies and was amazed seeing the magnificent set-up. It seems that it is probably the largest single location office of a PR agency, anywhere in the world. The office boosts of all modern amenities that one would wish for, such as a library, a cafeteria that can accommodate 100 people at a time, a fully equipped gymnasium, indoor games facilities, yoga training, a doctor on call, a green zone in a large open terrace and most importantly an inhouse banquet hall for press conferences, specially designed keeping in mind technical requirements of the broadcast media. The new office reflects the confidence & conviction of one PR agency in the future of the PR business in India and certainly a matter of pride for the Indian PR industry.

Unarguably the PR scene in India is going through a huge transformation. Just about 15 years back, only couple of so called PR agencies operated armed with their fax machines and had employed few foot warriors, who’s job used to distribute press releases on behalf of the clients they were servicing, either by personally meeting the journalists or faxing the same to them. Today India has become one of the most sought after market for the world’s biggest names in the PR business. Most of them have already entered India few years back or finalizing their plans to foray into India.

This has brought the wave of change in the Indian PR business; many independently owned PR agencies either merged themselves with their International partners or have been acquired completely by the international biggies. The message was clear either raise your standards or leave the business. Clients going global and MNCs entering India, demanded more strategic inputs rather than just media clippings.

At one hand international PR agencies bring in more theoretical, data and analysis driven approach and on the other hand there are independent Indian origin agencies bringing in their strong understanding of India’s socio-economic-politico culture of Indian and long experience of working with the Indian media.

Many International PR agencies have been in India for over a decade now, but only very few could make India their profit center (ofcourse not comparable to their other office in US and other developed markets). Some of the reasons could be that it is very difficult to come to terms with the retainer fees offered to them by Indian clients, which largely hovers around 1 Lakh to 1.5 Lakh barring only handful of clients who pay in the range of 5 Lakh to 10 Lakh. Another reason could be that Indian companies gauge their PR success based on their visibility they get in the media, while international PR agencies focus more on strategic business outcomes, but if the strategy, ultimately does not deliver into visibility then it does not make any sense to the Indian clients. Large volume of clients (about 80%) are comfortable paying the retainer fees in the above 1 to 2 Lakh rupees, which is too small as compared to their international payouts, which is in the range of minimum $15000  to $20000.

On the other hand select independent Indian agencies have not only survived the global meltdown and takeover wave but have also grown stupendously when the world was going through the extended downturn.  They are not only growing but are also investing in strengthening their offerings and talent base.

The good news in all this is the opportunity for Indian talent and the promise it holds for thousands of PR professionals working across India. At the end of this tug-of-war, there holds a bright future for Indian professionals to learn and grow in the highly elevated professional organizations. While PR markets across the developed world is at a very matured level, India holds a lot of promise for the business to grow by leaps and bounds. But it is also true that there is an urgent need for investing in the quality of talent available in India.

Your views on this will be highly appreciated. Please visit www.vikypedia.in to post your comments and feedback on the above write-up.

 
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Posted by on April 12, 2012 in Public Relations

 

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Differentiate your marketing strategy

Brands in their mission to reach out to their target audience adopt numerous marketing tactics, some unique and many tried and tested. Today’s Brand Equity talks about how Nokia tried to regain their market dominance in the dual-sim category by adopting differentiated marketing strategies to reach out to non-urban audiences. It used bikers under ‘Nokia Blue Brigade’ to rally small towns of Punjab, Rajasthan, Himachal Pradesh and Uttarakhand. It relied on street plays or Nukkad Natak in a massive way by reaching out to 575 towns and villages across six North Indian states by roping in Lok Kala Sanstha from Chhattisgarh,. In these Nukkad Nataks, a group of artists would enter a crowded market area and enact a comedy play, which smartly weaved the benefits of dual-sim handsets into the script. This was followed by demonstrations of the device and also prizes for those who purchased on the spot. The company was able to sell over 5300 dual-sim handsets on the spot. In rural Maharashtra, it spread awareness using torch rallies, with 75-1100 people participating. In cities like Delhi, Jaipur, Lucknow and Bhopal the company ran digital and radio campaigns, inviting twins to launch their brands and become their brand ambassador for the day. In Delhi, Nokia’s Twins Day Out’ festival saw 63 pairs of twins coming together, which helped them enter the Limca Book of Records for organizing the largest gathering of twins in India at a single venue.

While big brands like Nokia have time and again demonstrated their marketing skills time and again, there are other lesser known brands like Tata Housing in a more serious category like Real Estate try to innovative and differentiate themselves by adopting unique strategies. Recently when the company launched a low-cost housing project in Ahmedabad, it roped in Bhawai performers from Ahmedabad theatre group to enact a song-drama act in a beautifully scripted story creating awareness about the launch of the project. The Bhawai performance was initiated at the launch press conference itself and was then played at various busy streets and malls of Ahmedabad. In another instance the company roped in Mime artists to announce the launch of the project in its press conference.

Such disruptive techniques used by brands in building their brand image goes a long way in creating that top of the mind recall amongst its target audience in today’s cluttered marketing space. “Disruptive marketing is not a bag of tricks, but a well-grounded approach that requires a strong constitution to do things differently and distinctively. You are not expecting something when you get to see something. That’s disruptive. And it makes you think about the brand. It is a bit of hodge-podge at times and critics have often felt it could damage the brand’s carefullybuilt reputation of consistency and reliability, but it actually delivers the goods,” comments Future Brands CEO and MD Santosh Desai, in an article of Tahelka magazine.

There are many such examples of ideas that make the brand tick, please share if you know of any and how we can integrate to drive some PR mileage as well.

 
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Posted by on April 11, 2012 in Branding, Marketing

 

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Who Owns the Media List???

Media Lists, a prized possession of every PR professional, which most often is the last thing he would want to share it with anyone, even his colleagues, let alone his clients. What could be the reasons for such a behavior? Insecurity; fear of losing clients, once they get hold of the media contacts; or fear of backlash from the media, who had trusted him and shared their personal mobile numbers with him.

To understand this, I had posted a query titled – ‘Refusing to share media contacts with clients’ on Indian PR Forum and few LinkedIn groups and the result was quite intriguing. The discussion took shape into a very interesting and a healthy debate, where three groups were formed, one which believed, no matter what, media list should not be shared at any cost, while the other group debated that there is no harm in sharing a media list as sharing contacts does not mean sharing relationships. On the other hand the third group took a neutral stand and argued that there should not be a thumb rule for sharing or not sharing the lists, it would depend on the kind of relationship and trust you share with your clients. Surprisingly the debate drew interests from very senior professionals from India and many other countries.

The reasons put forward by the first group (who are against sharing the list) had valid arguments to put forward and which certainly did not seem absurd and childish (as I had first thought). BN Kumar, from Concept PR, opines, “Media contacts are developed with a painstaking work over the years. The lists with personal numbers are properties of the agencies. The entire process of media relations depends on the contacts that the agency or client develops. Clients’ job becomes easier once they get the media lists with contact numbers. That’s where the sense of insecurity creeps in and in many cases clients do not renew their contracts with agencies once they get the lists from agencies.”

Tarunjeet from Nucleus PR, adds that “A lot of journalists trust the PR professionals with their cell numbers that are to be used only during emergencies and absolute desperate conditions. Somewhere, with aggressive clients this message, despite reiterations, is lost and they start getting calls for events for the CEOs son’s birthday, or to a press conference wherein the client is trying to make a personal connect. This not only spoils the relationship of the journalist with the client but more so with the PR professional and the entire agency as a whole for all their clients.” While Owuoche Elizabeth, Associate Account Director – Silver Bullet PR, Kenya, says, “As a PR consultant I would like to have the upper hand, I want the client to come to me! I want the journalist to call me to set up opportunities with the client; I need to protect my role as the middleman.” Abha Azad at Finese PR, New Delhi, asserts, “The issue is: why the list is required by a client at all if it is working with a consultancy? If you have several points of contact, the media relations activity by itself becomes a problem. If the client starts to approach the media on its own, which I presume is why he/she is asking for the list, then an external/independent Consultancy is seen as an extraneous body which will delay the “response time”. I mean “why approach them if I have direct contact!!!”, would be the typical thought process of the media.”

The second group (who believes that agency should by all means share the media contacts) questions the basic fundamentals of the agencies. Vikas Kamboj, Associate Director at Indian Staffing Federation, Noida, says, “It seems that some agencies are stuck in some sort of time warp, where lists were the prized possessions. It just shows utter lack of sound knowledge about Public Relations as a profession. A consultancy, is about ideas and the insights they bring on the table about the publics (where media holds the major share of the pie) who matter.” Chet Wade, MD, Dominion, Richmond, Virginia, believes, “The value is in the relationship — as well as understanding what each media member and outlet finds interesting / valuable.  A media list is like a lump of clay. You can find them anywhere. What matters is how the artist works on it. Good communicators are artists at defining a good pitch. I am on the corporate side, but I would not have a problem sharing contact lists with a client if I were on the agency side.”

Harshendra Verdhan, Manager – PR at Indian Farmers Fertiliser Cooperative Limited, is of the view that, “Agencies need to understand that it’s not only contacts but the trust and bond with client is what matters. You have to be transparent with the client. If I am in the industry from many years than it is certain that, even I will have contacts, which will help me to procure the list if the agency denies. Agencies should understand the fact that they have a wider role to play.” While Kunal Karn is of the view that, “PR agencies have to grow a bit from being just a media agencies and playing a role of coordinator between client and journalist. There are many strategic roles that a PR agency can play for its clients.” Nayna Banerjee, Head Corporate Communications at Rabo India Finance Limited, had a straight answer, “If having a list is the only strength an agency has………..time my friend to look for the next one.”

But the most compelling and convincing arguments came from our third group of friends (the neutrals), who believed that there cannot be a blanket rule or agency policy for sharing or not sharing media coordinates. Aarif Malik, Vice President at Madison Public Relations, says “I’ve rarely refused to give away a media list, but before just giving out the list, I would like to seek two answers from the client, Why does the client want the media list? And what kind of details in the list? This helps me to understand the purpose behind the request. However, asking for contact details in the list is a different ballgame altogether. I’ve given such lists as well, but then they’ve turned out to be an indicator of an unpleasant situation building up between the client and the agency. If the agency is under-delivering, then the agency has to buck up. But if the client is doing that despite no fault of the agency, then I for one usually feel a little insulted. But again, that doesn’t stop me from giving contact details of media because I want the client to experiment himself / herself and realize that the agency has not been under-delivering. I’ve realized that once your client does this, you usually end up getting the client on your side.”

Sourav Das, Corporate Affairs & Communications, Cairn India, points to a scenario where the Corporate Communication team is built with Ex-Agency professionals. In such a scenario, if Agency declines – corp. cormm teams do it themselves – but at the end of it there is bad blood that remains. He says, “Database is not equal to relationships. So the agencies need to shed insecurity and focus on the core – building images (for clients and for themselves), but at the same time one needs to use judgment as to whom they are sharing their database. It should be shared with people who know the PR etiquettes, sensitivities and fine nuances of this profession. Tarunjeet from Nucleus, suggests a heart to heart chat, she says “You need to take the time to do this. After this if it does not work then by all means end the association. But if you cannot take the time to build the trust then maybe both you and the agency are not suited for each other.”

Anshuman Chakravarty, states that, “Every effort has a value and a price- even collecting media database”, from a client side if you ensure a “contract” which enables you to get media contacts, I think that’s the best way forward.” While Muyiwa Akande, Media Manager at Mediacraft Associates Limited from Nigeria, very beautifully explains, “I really don’t see anything odd in sharing media contacts with clients. The demon is always in the details, the popular saying goes. I believe media relations are an integral part of PR but it is not all of it. As PR consultants we need to constantly raise the bar in areas like strategy development, cutting-edge advisory services, creatively “disruptive” ideas, et al. Even if the client has all the media contacts, he will still need our services if we develop competencies in the above mentioned areas.”

The arguments can go on forever as each one of us will stand by our own understanding, but after dwelling into so much detail of the issue, I have come to a conclusion that a media list prepared by an agency is its proprietary possession and no one should force them to share, unless clarified through a contract at the beginning of the relationship. While at the same time, agencies should not see all clients from the same view point, if such a request does come from a client, then the agency’s decision should be based on their understanding, relationship and intentions of the client making such a request. If you do not see anything wrong, then there is no harm in sharing and expecting the client to reciprocate in the same manner.

Clients on the other hand also need to understand their responsibilities and know for a fact that competing with your partners will eventually only bring discontent and loss of opportunities for both sides. Clients should give due credit for the agency’s work and as far as possible communicate with the media through the agency.

I urge you to read through all the comments on http://vikypedia.in/2012/02/26/who-owns-the-media-list/ and check what the pulse of the industry is saying…

To comment on this post, please visit www.vikypedia.in

 
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Posted by on February 26, 2012 in Public Relations

 

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Refusing to share media contact with clients

Dear All,

I have come across instances, when the agency refuses to share media contacts with the client. I believe this is absurd as being at the agency side for quite long time, I never thought that my strengths are only the media contacts that the agency has (getting media contacts probably is not that difficult, if one wants to compile). I always believed as an agency our strengths are the concepts and ideas that we collectively come up with to help the client right mileage in the media.

Refusing to sharing media contacts with the clients while on a contract I believe is unethical. This practice is not prevalent even in developed countries, where PR is practiced from decades.

I believe this is too childish, would be interested in knowing your views and how do you deal with this, if you are on the corporate side and incase you are on the agency side then how to do you react to such requests.

Your inputs will be highly appreciated.

 
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Posted by on February 26, 2012 in Public Relations

 

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Perfect Your Personal Elevator Pitch

You must have worked on an elevator pitch for your clients many a times and must have effectively used to pitch your clients to journos when you bump into them at seminars, media visits, press conferences etc. But have you ever thought about preparing your personal elevator pitch?

To find a job, you need to be ready to market yourself at any time. Make sure you’re equipped with the right pitch—don’t be afraid to toot your own horn, and don’t waste time reiterating your resume.

Instead, state in one concrete sentence what makes you so effective. Talking about the impact you’ve had—and can continue to have—is much more compelling than listing your experience. For example, one assistant said of herself, “I can make any boss shine.”

Speak at a pace that shows you are calm and confident. Practice your pitch often. And remember that jobs don’t just come from interviews. Use any opportunity you have to deliver your pitch—at family gatherings, in waiting rooms, or at the coffee shop. Don’t wait for the elevator.

 
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Posted by on November 25, 2011 in Management

 

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News: Facebook changes inspire more grumbling

Facebook recently redesigned its site, moving things around and adding new elements. Of course, Facebook frequently fiddles with its features, and these fixes frequently infuriate its fans. This time, though, the changes have done more than ruffle a few feathers; they’ve practically plucked the chickens.

A poll run by the social media news blog Mashable found that 75% of Facebook fans “hate” the redesign. The new Facebook fared even worse on the poll site Sodahead, where 86% gave the changes a thumbs down. Of course, any time a company with 800 million active customers makes a change, a certain predictable percentage of them go ballistic. The wails of protest have become just another cherished phase of the cycle. If you don’t like change, technology may be the wrong field for you.

Do the Facebook changes justify all the teeth-gnashing? Here’s a rundown of what’s come out recently, and what’s coming soon—and one man’s verdict on each one’s true wail-worthiness.

The Timeline: The new Facebook Timeline view is still in private testing; you, the public, won’t get to see it for a couple more weeks. For now, it’s optional. Eventually, it will replace your existing Profile page—thus the griping. But this time, change is good.

In essence, it’s a timeline of your life, depicted on a vertically scrolling page. Now is at the top; your birth is at the bottom. Facebook generates it automatically, using your recent news and life events to populate it; the farther back you go in time, the more Facebook condenses events. You can manually expand or compress various phases of your life, and you can manually add or remove events.

Because the Timeline displays photos alongside the news and events of your life, it can eventually become a rich visual record of your life. Now, if you’re the kind of person who doesn’t see the appeal of Facebook in the first place—“Why on earth would I want to make the intimate details of my life public on the Internet!?”—then the Timeline will only amplify your bafflement.

But for regular Facebookers, the Timeline serves a real purpose. For example, if you got engaged a few months ago, only the Facebook regulars among your fans might know it. Oh, they could keep clicking More, More, More, to summon older and older posts you’d made—but how would they even know to do that?

Top Stories: The new Top Stories feature, on the other hand, isn’t nearly as successful. If you haven’t visited your Facebook page in awhile, you’ll have missed a lot of your friends’ news updates—some of which might have been important. Facebook’s concern was that once those updates had scrolled away, you’d never know they existed.

Therefore, when you log in now, Facebook places stories it considers to be important right at the top—big stories you haven’t seen, no matter how old they are. Below these “important” posts, you’ll find the traditional, infinitely scrolling, strictly chronological list of news.

Facebook fanatics object to the Top Stories scheme on several grounds. First, what constitutes “important”? Facebook says that it chooses Top Stories based on things like which of your friends posted them, how many Likes and Comments they’ve received, and so on.

Second, the Top Stories concept means that you might see three-day-old stories above one-hour-old stories, which doesn’t seem quite right. And third, it’s just plain confusing, on a site that’s already pretty confusing.

The Ticker: On the right side of the News Feed screen, there’s a new scrolling list of lighter-weight, real-time updates posted by your friends. This Ticker lets you know what music your friends are listening to, who’s made friends with whom and which friends have clicked the Like button for what. You can respond to these updates in a bubble that pops out when you point to the Ticker, so you never have to leave your main page.

The Ticker may be interesting to those shockingly numerous Facebook fans who spend hours a day on the site. But if you don’t care for it—for example, if you find that the constant scrolling animation brings unwelcome distraction when you’re trying to read—you can hide it with a click.

Subscriptions: Many of the changes are simply Facebook catch-up. It used to be that you couldn’t see my posts, for example, unless I friended you. Now, I can permit the masses to “subscribe” to my utterances without friending or knowing them—an idea Facebook has cheerfully borrowed from Twitter.

Friends List: Facebook has also been busy borrowing ideas from Google. No matter how many times Facebook overhauled its privacy settings, they were always complex and controversial. Google recently exploited that weakness when it unveiled Google Plus, its Facebook rival.

There, each time you post some news item, you get a pop-up menu that controls who gets to see it: Family, Best Buddies, Work Folk, Everyone or whatever. Maybe that’s more effort, but it’s clear as day.

The bottom line: The recent Facebook changes really do make things both better (Timeline, Friend Lists, Subscriptions) and worse (Top Stories, Ticker). If you’ve been participating in the online gripefest, well, you have a point. On the other hand, if you hate the new design, look at the bright side: it’s only a matter of time before Facebook changes its design again.

 
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Posted by on October 25, 2011 in Social Media, Social Media News

 

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News: Facebook’s automatic ‘friend request’ glitch angers users

 

 

Image representing Facebook as depicted in Cru...

Image via CrunchBase

Facebook has been slammed by many of its users who claimed that the social network automatically sends ” friend requests” to people they want to avoid.

Users are expressing their anger on various Internet forums, saying Facebook is sending requests to “friends of friends” or people in networks they have joined.

The social networking site has been unable to explain the glitch, but has insisted it is not an official Facebook feature.

Social media experts, however, suggested rogue Facebook applications could be responsible for this, the Herald Sun reports.

Anyone can create a Facebook application and Facebook does not check their authenticity before they pop up on users’ accounts.

According to technology blogger Nik Cubrilovic, people don’t realise when they approve applications they give them access to account information.

Cubrilovic said spammers could make big bucks “phishing” for information on users’ Facebook account.

“Verified email addresses sell for 20c to one dollar each so if they are able to extract 100,000 verified email addresses from Facebook that is probably worth upwards of 20,000 dollars to spammers,” the paper quoted him, as saying.

Source: http://economictimes.indiatimes.com/tech/internet/facebooks-automatic-friend-request-glitch-angers-users/articleshow/10473104.cms

 

 

 

 
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Posted by on October 24, 2011 in Social Media, Social Media News

 

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News Feature: Luxury’s next destination?

Salvatore Ferragamo

Image via Wikipedia

Last week, India was being described as luxury’s new destination. But is it too early to call it that?

At a time when the Rs 32 below-the-poverty-line cap was still causing outraged headlines, playing cards priced at Rs 5,040 a pack were on offer as Diwali gifts from Lavin at Kitsch in Emporio Mall, New Delhi. And, ironically, last week, all roads in Delhi seemed to be leading towards luxury’s doors. Luxury with a capital T.

With India being described as luxury’s new destination, it was not surprising to see the head honchos of leading labels such as Florentine shoemaker Ferragamo, French couturier Hermes and the iconic British trenchcoat maker Burberry, described as the fastest growing global brand after Apple and Google, making a beeline for the country.

The CEOs from these companies were attending the CII Luxury summit even as a saree costing over Rs 4 lakh was being unveiled to surprised gasps at a parallel event at the Wills Fashion Week in Delhi.

Just a fortnight before that, Bangkok-based luxury hotel brand Lebua had outlined plans to set up the world’s most expensive restaurant in Delhi, promising a meal that would set the diner back by $400.

To be fair, the irony of selling luxury in the Indian market did not seem to escape the Western luxury brands, who all began their speeches at the CII event talking about their poverty-alleviating or sustainable initiatives and building an ‘emotional connect with India’ rather than making a direct product pitch. Salvatore Ferragamo‘s CEO Michael Norsa, for instance, talked of his company’s initiatives with a Hyderabad-based NGO and spending time in the slums, even as Burberry CEO Angela Ahrendts talked about democratisation of luxury and its new mass face through social media connect.

But they were quick to point to the opportunity size here, quoting a CII AT Kearney report that pegs the Indian luxury market at $5.8 billion and forecasts a scorching growth rate to reach $14.7 billion by 2015. They also pointed to India’s growing millionaire club — the Julius Baer Group and CLSA Asia-Pacific say India will have over four lakh millionaires by 2015.

The other irony — the fact that in a year of global recession, world over luxury brands have grown the fastest — has also not escaped the luxury makers. “Even in volatile markets, the strong luxury brands are getting stronger, mostly on emotional connect,” said Norsa. This year, almost all the luxury brands have reported huge growth — even as Ahrendts was here, back home in London, Burberry’s first-half sales of $1.29 billion — showing a growth of 30 per cent — was astonishing British analysts in a year when the country has been dealt a recessionary body blow. But the fact is that the growth is coming from emerging markets such as China and India.

A necessity or a contradiction

“Today, luxury goods are a necessity for the affluent segment in India, with a marked shift in mindset from ‘aspirer’ to the ‘acquirer’,” says Nigel Harwood, CEO and President, InterGlobe Established.

Having sold 45 aircraft in this part of the world and watching the market for super cars zoom at 20 per cent growth, Harwood is one of the optimists about India’s potential as a luxury market.

And, yet to a man and woman, the CEOs of the luxury labels also pointed out the inherent contradictions of selling luxury in India. “There are more Indians dining at Four Seasons than anyone else and yet the culture of luxury is yet to catch on,” Norsa observed, describing how at every turn the company has been surprised that growth has not kept pace with projections. “In China we grew faster than we thought, while sales in India have been slower than we estimated,” he said.

So are the projections too optimistic?

Some blame the infrastructure — unlike the Taj Mahal that flourishes in dirty Agra, luxury brands cannot, after all, operate in a dirty pond, but have to have a ritzy setting to woo customers. And one DLF Emporio, they pointed out, does not a big market make — like China, where there are umpteen malls, swish airports, fancy high streets, India needs to get its infrastructure right.

Others talked about being baffled by the psyche of the Indian consumer. “The Indian and Chinese think very differently,” said Jimmy Choo’s CEO Joshua Schulman, as he outlined the company’s plan to be a billion-Euro business soon, diversifying from its trademark shoes to fragrances.

Indeed, while their Chinese peers splurge without compunction on luxury, the wealthiest of Indian consumers is still as price-conscious as his middle-class cousin. With taxes on luxury goods above 35 per cent here, as opposed to just a 15 per cent levy in China, the Indian luxury consumer would much rather pick up the product abroad than here — a big dampener for luxury brands looking to set up shop here. Ferragamo’s Norsa launches into a complicated story to point out how the wealthiest of Indian patrons will still ask for 15 per cent discount.

The other big spoilsport for the Guccis and Versaces and Rolexes of the world is that they can’t set up mono brand outlets — with the 51 per cent cap on FDI in single brand in retail — and sell the experience they want to.

It’s also taken time for the Western luxury brands to understand the unique pattern of luxury here — we might buy fast cars, splurge on jewellery and watches and expensive dinners, but will not spend on high-end suits, or live in luxurious penthouses. “Indian customers are looking for products that don’t just make a statement, but offer a visible value to them as well,” says InterGlobe’s Harwood.

Norsa points out that even as the Western market purchases luxury for self-indulgence, gifting is the driver of luxury for the Asian consumer. But even within Asia, as Schulman says, every country has a different luxury story.

Ten years after they started their journey here, it’s clear that the luxury makers are finally beginning to get the plot.

Source: http://www.thehindubusinessline.com/features/brandline/article2549064.ece?ref=wl_companies

 
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Posted by on October 20, 2011 in Branding, Marketing, News Marketing

 

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News: Google to shut Google Buzz

Google is shutting down the last remnants of Google Buzz to focus on Google+, the company announced on Friday.

“In a few weeks we’ll shut down Google Buzz and the Buzz API, and focus instead on Google+,” Bradley Horowitz, Google’s vice president of product, wrote on The Official Google Blog. “While people obviously won’t be able to create new posts after that, they will be able to view their existing content on their Google Profile, and download it using Google Takeout.”

In addition, Google is shuttering Code Search on Jan. 15 and other social media offerings, including the Twitter-like Jaiku — which will also be discontinued on that date — and iGoogle’s social features. As previously announced, Google Labs will also shut down.

Launched in February 2010, Google Buzz was initially seen as a threat to Twitter and Facebook, but never lived up to its promise, becoming one of the biggest flops of the year. It is likely that Buzz will be viewed as a forerunner to Google+, which had a stronger start, hitting 40 million users in its first three months, according to Google CEO Larry Page.

Source: http://mashable.com/2011/10/14/rip-google-buzz/?WT.mc_id=en_my_stories&utm_campaign=My%2BStories&utm_medium=email&utm_source=newsletter

 
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Posted by on October 19, 2011 in Social Media News

 

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