The Hindu Business Line : ‘A mountain of possibilities’ in retail obstacles bookmark

India’s total retail market handles 90 billion transactions a year, informs Geoff Hiscock in India’s Store Wars ( www.landmarkonthenet.com). “In anybody’s langua ge, that’s a lot of shopping, even if the bulk of those transactions involve no receipts and is for the most basic necessities of life — food, water, clothing, a place to live,” the author adds.

In 2007-08, retail in India was estimated at $400 billion, or more than a third of GDP (gross domestic product), Hiscock mentions. “Retail is already the world’s largest private industry, with total sales of more than $12 trillion in 2006, or about a quarter of world gross product.”

Hiscock is positive that these obstacles can open ‘a mountain of possibilities for Indian and overseas investors and entrepreneurs.’

Engaging perspective from a seasoned journalist.

Unfolding new media

New Media: Techniques and Trends Ashwin Razdan

ROI (return on investment) isn’t enough, look at RONMI (return on new media investments), says Ashwin Razdan in New Media: Techniques and Trends ( www.vitastapublishing.com).

“A few things that marketers must keep in mind while calculating the RONMI are as follows: return on monetary investment, circle of influence created, branding value, brand image enhancement and brand’s interaction with consumers,” explains Razdan.

He sees innovation and creative as elements important to the future of new media. “Current Internet giants are either going to acquire companies offering innovative technology or they will simply enhance the user experience by increasing interactivity.”

Compelling presentation.

Women, the bosses of buying

Wonder Woman: Marketing Secrets for the Trillion-Dollar Customer Iain Ellwood

Marketing to women is currently the most effective business growth strategy, avers Iain Ellwood in Wonder Woman: Marketing Secrets for the Trillion-Dollar Customer ( www.palgrave.com).

“CEOs and marketers first need to acknowledge that women really are the boss when it comes to buying. Second, they need to understand that women are different from men in many psychological and behavioural ways that affect their relationships with brands,” he advises.

One of the many examples in the book is about how GM connected with its target of professional female audience when marketing sports utility vehicles. “It offered $100 spa certificates to one million women for test-driving a GMC vehicle.”

Another example is of Volvo, which found that women wanted the same premium design features like climate control and leather upholstery as men did, Ellwood narrates.

In contrast, with regard to the budget-level vehicles, “women expected much less than their male counterparts,” the author continues, “be it about engine performance, seat comfort, and the latest safety features.”

Valuable addition to the marketer’s shelf.

D. Murali

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