The lal Bahadur Shastri Institute of Management (lBSIM) hosted a National Marketing Conference on Marketing Strategies in Emerging Economies in the Capital recently. The conference, presented an opportunity to explore diverse facets of emerging marketing trends to offer implementable managerial inputs.
After the inauguration by the chief guest Pradeep Singh, CEO, Indian School of Business from Mohali campus, he addressed the gathering and he stressed on the importance of understanding the cultures of emerging economies and highlighted the fact that products and services have to be designed keeping in mind that emerging economies are culturally different, have rather low incomes, have a lot of diversity and the fact that in these economies labour is cheap and capital is expensive.
Dr Gl Sharma, advisor management grid, lBSIM and prof PK Biswas, director, lBSIM, addressed the need for marketing strategists in emerging economies to strike a chord with the customers by thinking locally and understanding the culture of their target segment. Prof SK Jain, conference convener, emphasised on the importance of connecting with the customers and the emergence of new P’s of marketing: people, profit and planet.
The conference was divided into three technical sessions — marketing dynamics, online and offline strategies; critical facets of marketing strategies and strategies for marketing sustainability. Eminent academicians and industry professionals attended the conference and shared their insights on these issues.