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Kochi, Oct. 13

It has become very difficult to understand the changing face of the Indian consumer, said Mr Deepak Chaurasiya, Editor of Star News, while addressing students at Horizons 08, the annual management convention of the Indian Institute of Management-Kozhikode.

He said that while the average Indian consumer is becoming increasingly global in his outlook, there is still a large section of the population at the bottom of the pyramid who have not been addressed by many of the media companies.

The focus of this year’s event revolved around themes such as real estate, retail as well as media and entertainment.

“If my left leg is on fire and the other is on ice, then on an average I am normal,” said Mr Dinesh Jain, CEO of Zee Turner Ltd, while emphasising that analytical skills alone do not go into making a good media professional. With more than 300 channels, the industry has become cluttered and hence it is the people who have become the most important assets to a firm.

Citing talent sourcing and retention as major issues impeding the fast growth of industry, he added that the right media professional is the one who is a fast learner, can adapt to change quickly, a risk taker and uses both – his left and right brain in good measure.

The overall theme of the seminar was ‘Looking East – Redefining Global Dynamics’.

On the second day, when real estate and retail was discussed, Mr T.V. Thyagharajon, Vice-President, Reliance Retail, spoke on ‘Understanding the Concept of Private Labels.’ India being in the primitive stage of development in retail, Mr Thyagharajon explained on how organised retail will change the industry in coming years.

Identifying how the role of the brand changes as markets evolve, he said that from being unbranded the consumers view brands as a personality and then view brands as icons. He viewed that local and foreign tie-ups and rural opportunities as the next big trends for retail development in the country.

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