The Hindu Business Line : Key role for innovation in marketing

Expert view: Mr S.R. Ayer, former Chairman of O&M India Ltd, addressing a BL Club meeting at Thiagarajar School of Management in Madurai. Seated is Mr Manikam Ramaswami, Correspondent, TSM —

Our Correspondent

Madurai, Nov. 1 The purpose of marketing is to create and retain a customer, in which innovation played a key role, according to Mr S.R. Ayer, former Chairman, O&M India Ltd.

He was delivering the inaugural address at Candhai, the Marketing Club of Thiagarajar School of Management (TSM), held under the aegis of Business Line Club, here.

While a good data base about customers, competitors and markets is a necessary ingredient, by itself it would be inadequate to serve a purpose. The data needs to be converted into meaningful information to evolve strategic decisions from wider choices. The endeavour will have to appeal to the imagination. This becomes the starting point for innovation in marketing. Pricing and technology provide a competitive advantage but only up to a point, he said.

In business, other benefits do matter. Something more would be required to satisfy the insatiable expanding wishes and demands of the market, he explained drawing attention to the successful efforts made by big companies.

Potent tool

In the rapidly growing media industry, the mobile, with its added features and wider access, presents a potent tool for the marketing people, said Mr K. Venugopal, Joint Editor, The Hindu-Business line.

Making a presentation, he said the mobile’s cheapness and easy reach of targeted audience made it a potent instrument in the hands of marketers that a ‘do not call registry’ has been necessitated.

Soon a call–registry with incentives for marketing may become the order, he said.

Earlier, Mr Manikam Ramaswami, Correspondent, TSM, in his welcome address said ‘Candhai’ was an integral part of the culture and an oldest form of commercial activity.

Mr Vepa K. Sadasivam, faculty, explained the genesis of the ‘Marketing Club’ and its objectives.