The Hindu Business Line : `Marketing professionals must have modern outlook'

Bangalore April 6 A leading consultant has asked aspiring professionals to learn to question the fundamental assumptions about how a company competes in an industry and innovate new practices based on knowledge to communicate with the consumers.

Delivering a lecture on `Global Markets' organised by the Business Line Club here on Friday, Mr L.H. Bhatia, former Managing Director of BPL Sanyo, and Managing Consultant of Amiglobe Consulting, said with globalisation, markets were becoming more dynamic and highly competitive giving emphasis to the changing preferences of consumers.

This necessitated the marketing professionals to take a re-look at the conventional theories and practices. He was addressing the MBA students of All-Ameen Institute of Management Studies.

Giving his perceptions of modern marketing, Mr Bhatia said no longer could the marketing professionals bank on the old paradigms and as management guru C.K. Prahlad opined "future cannot be the extrapolation of the past".

Mr Bhatia said in the new environment, marketing meant customers' retention first for which it was essential for a company to understand their mind to finetune the strategies.

Integral strategy

Marketing was increasingly becoming an integral part not an adjunct of a company's strategy. As technology played a key role in the modern industry, market also would evolve around that. The classic example was the emergence of Apple Computers as a leader of personal music systems against Sony.

Earlier, Mr N. Rajashekar, Regional General Manger, The Hindu, said external knowledge was key to shaping the faculty of the students and said newspapers played an important role in it.

Ms Anuradha Prathap, Principal of Al-Ameen Institute of Management Studies, said lectures by corporate experts helped students gain practical insight into the subjects they were learning.

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