KIIT holds National Marketing Conclave
The KIIT School of Management (KSOM) here held its 5th National Marketing Conclave on the theme ‘Youth Marketing’ on Saturday.
With the rise in young consumerism, social and cultural changes, access to technology, information through internet, increased spending power and the onset of social media tools, youth today has become a prime target group for marketers.
The event was inaugurated by Prof Abraham Koshy, IIM Ahmedabad, Chairman of The Federal Bank limited and Jagdish Mahapatra, MD-India and SAARC, McAfee in presence of KIIT University Vice-Chancellor Prof PP Mathur and KSOM Director Prof Anil Bajpai. Prof Bajpai spoke about how youth has become an important demography in context of the current marketing scenario.
Prof Koshy observed that marginal adjustment in company strategies would not be sufficient for adapting to dynamic changes in youth preferences. Information consumption behaviour in youth has to be analysed differently, thereby making conventional research methods irrelevant.
The process of value creation needs to be redefined by correct identification of value gaps and value communication.
Jagdish Mahapatra said the 4 Cs - Connect, Content, Conduct and Character play an important role in making an individual flexible and globally adaptable.
The first panel discussion was on ‘Youth Marketing - Impact on Rural to Urban Migration’. It revolved around how migration of population from rural to urban area is affecting marketing dynamics. The panelists unanimously agreed that more than marketing, it is economic activities and economic necessities which propel youth to aspire for urban lifestyle.
The focus was also on the shift from agriculture to service industries that India is witnessing. For the first time, a youth panel discussion was held as part of the conclave. The panel consisted of young entrepreneurs and students who brought out the youth’s perspective on marketing.
later, 15 workshops were conducted by industry luminaries on topics like Marketing to Digital Youth and Marketing Strategy of Youth Brands.