Notes on Management 080222

Four aspects of user experience: Entertainment, education, Escapist, aesthetic. Richest experiences include all four.

Leadership is about how other people see you and making others successful. Success creates followers. Constant effort to identify, work on areas of development and weaknesses is the key. Being able to work on things that give a sense of purpose motivates you to do greater things.

To develop an executive voice, 1. Always understand the context of a conversation, 2. Focus more on the wider goal, 3. Reach out to more people and build relationships, 4. Think of solutions, and 5. Learn to stay calm.

By Kaihan Krippendorff
You can unlock the strategic advantage for your organization by employing five critical patterns that involve – imagination, dissection, expansion, analysis and selling--to drive enduring, sustainable growth.

By Damodar Mall

Emerging markets of the size of today's India or the United States at the turn of the last century, assert their preferences which are very distinct from other emerged markets. Global strategists should pay heed to what the local consumer wants in a deep and wide market such as India.

There are two Indias in terms of consumers. Retailers and marketers should target each segment differently. India 1 is exclusive and service-oriented, while India 2 shows its might on sale days when the price point is the sole factor.

Retail stores score higher than the neighborhood grocery store as they offer anonymity, choice, and change without compromising on price, comfort, and dignity.

Food habits in India are different from other regions in the world. A peek inside the refrigerator in a middle-class Indian home will throw up interesting observations: the size is bigger than the one they used earlier, perishables are stored for longer durations, open to exotic food, semi-ready for convenience, and no frozen meals.

Creating a choice for the consumer by modernizing retail, and charging a higher price for better quality is possible if the entire value chain participates. This is possible through FDI.

My English Podcast "Lifebook" can be listened on the link https://anchor.fm/sanjay-gora7

My Hindi Podcast "Kitabi Keeda" can be listened on the link https://anchor.fm/sanjay-gora

Books written by me are available on Amazon, Flipkart and Notionpress sites.

https://www.amazon.in/s?i=stripbooks&rh=p_27%3ASanjay+Gora&ref=dp_byline_sr_book_1

https://www.flipkart.com/search?q=sanjay%20gora&otracker=search&otracker1=search&marketplace=FLIPKART&as-show=on&as=off

https://notionpress.com/author/36667

Notes on Marketing 140122

Salesforce and retail networks help to tap consumer needs. Don't ask what is working, ask what is not right. Winning at the game is about understanding what the consumer wants today and being ready on time with it.

Graduate from being a product to a brand to an experience. It relies on the ability to catch a trend at the outset and leverage it into an opportunity.

Advertising has evolved into the role of demand generation beyond its initial purpose of informing. The difference between aspiration and the income to achieve it creates premium demand, advertising is key to that.

The factors of success of one business cannot be applied to another even if they belong to the same category. Be clear about what differentiates the brand and focus on creating fans. The consumer looks to an Indian experience which is also progressive.

Keep the consumer at the center of the business strategy and deliver using technology, design, variety, advertising, and retailing. Standing up to the needs of the customer in a changing marketplace results leads to success.

In a closed market, differentiation depends on fewer parameters. In an open market, being a multi-brand is advantageous as you can reach different segments of consumers. The key, as always, is consumer centricity.

Leveraging the essence of brand ambassadors, rather than their face, works with consumers. Using stories to convey the message instead of a celebrity showcasing a brand leaves a more lasting impression.
Today's Indian consumer in lifestyle categories looks for modernity while continuing tradition. Women outnumber men as buyers in most of these segments.

(Bhaskar Bhat, Titan)

Notes on Marketing 011021

 My notes from a webinar on branding.

Friday dressing is rumoured to have been introduced by FMCG companies to push sales of their detergent powders as casual dresses may be washed and not dry-cleaned.

Hawaii is said to have introduced wearing of Hawaiian Shirts on Fridays by all locals to popularize these shirts which was successful. 

Tea-breaks were introduced to push for making tea a habit and thus increases sales of tea. Though it had added benefits of better motivation.

Fax machine use in offices was started during US postal strikes to send and receive messages. Later when strike ended, people had gotten used to fax machines so they stayed.

Video conferencing pre-covid was an add-on. But post-covid, it may become the norm.

Regardless of which group consumers belong to, they prioritize consumption by sorting products and services into four categories:

• Essentials are necessary for survival or perceived as central to well-being.

• Treats are indulgences whose immediate purchase is considered justifiable.

• Postponables are needed or desired items whose purchase can be reasonably put off.

• Expendables are perceived as unnecessary or unjustifiable. (reproduced from an article)

Dilemma for a decision-making system that only has incomplete knowledge of the world is whether to repeat decisions that have worked well so far (exploit) or to make novel decisions, hoping to gain even greater rewards (explore).

All Big Data comes from the past.

Deliberate slack in system.

Fail fast, experiment fast and cheap