For the past one decade, India was pacing quickly towards being a developed county with a commendable growth rate of 7-9%. But now as we see the growth rate stooping, the million dollar question arises – “How to lead the growth story for India in the coming decade?” On its part, Government has given stimulus packages and the sixth pay commission was a welcome move. But would it really help? What could be right move to ensure tangible benefits in near future and sustainable long term development in the long term?
We know that India is a society that firmly believes in saving money for the bad times. In case of increasing 6th pay commission; the major beneficiaries are government employees with disposable income. As the income rises further, the savings rather than spending would increase thus defeating the purpose of infusing money in the economic cycle. On the other hand, if govt. focuses more on infrastructure development such as building roads, dams, bridges, power-grids and telecommunications etc., it would ensure participation from all sectors of the society. There would be a demand for skilled as well as unskilled workers and this bottom of the pyramid which desperately needs money to fulfil its basic needs would spend and the impact on growth would be very much evident soon.
As for the long run, in order for an economy to perform at its optimum potential, it is required to move people, goods and information at a really fast pace. Building infrastructure would ensure better tomorrow by improving the efficiency. By infusing money with the aim of increasing retail consumption, the picture might seem gloomy in the short run but it would be like dealing with the tip of the iceberg.
By creating infrastructure, cost of delivery in supply-chain would reduce and logistics turn-over time would improve. This saving of cost and time would ultimately benefit every stake-holder in the society. By investing in transportation, commutation time and cost would reduce. By having better water supply facilities and sewers, health problems would considerably decrease. More power grids and stronger transmission & distribution would mean fulfilment of energy requirements. Better communication system in place would mean more friendly working condition and a better lifestyle. All this infrastructure in place would mean huge foreign investment, improved tourism and a strongly positive brand image to the world. Infrastructure spending can definitely lead the way out. It would mean a more inclusive growth with all the sections of the society involved in it leading the growth all the way.
Monday, October 19, 2009
Sunday, October 18, 2009
Randum(b) stuff
Some copied, some original:
The moment u settle for anything less than u deserve,u get even less than wat u settled for..
I am progressive by nature;thats y i keep gaining weight :D
My friends are my strength and their girlfriends are my weakness ;)
To the optimist the glass if half full..To the pessimist the glass is half empty..To the engineer the glass is twice larger than needed!
As the circle of our knowledge expands,so does the circumference of darkness surrounding it.
It does not matter when u start in the race, what matters is--- when u finish!!!
A man should feel lucky if he is the first love of a woman.. a woman should feel lucky if she is the last love of a man
A nice poem by Mainak Dhar in Funda of Mix-o-logy:
Stumbling along the road of life,
exploring new paths,yearning for those
long lost in the mists of time,
searching for a place called fame
Callused soles,tired feet,
scorching glare of the ego's Sun,
but still charting the paths ahead,
searching for a plane called success
Never stopping,never looking,
searching for a place called wealth.
A broken sign on the road reads;
Did you see the flowers on the roadside??
The moment u settle for anything less than u deserve,u get even less than wat u settled for..
I am progressive by nature;thats y i keep gaining weight :D
My friends are my strength and their girlfriends are my weakness ;)
To the optimist the glass if half full..To the pessimist the glass is half empty..To the engineer the glass is twice larger than needed!
As the circle of our knowledge expands,so does the circumference of darkness surrounding it.
It does not matter when u start in the race, what matters is--- when u finish!!!
A man should feel lucky if he is the first love of a woman.. a woman should feel lucky if she is the last love of a man
A nice poem by Mainak Dhar in Funda of Mix-o-logy:
Stumbling along the road of life,
exploring new paths,yearning for those
long lost in the mists of time,
searching for a place called fame
Callused soles,tired feet,
scorching glare of the ego's Sun,
but still charting the paths ahead,
searching for a plane called success
Never stopping,never looking,
searching for a place called wealth.
A broken sign on the road reads;
Did you see the flowers on the roadside??
Impact of Social Cause marketing campaigns on branding
The social cause marketing is a kind of affinity marketing that prominently and publicly identifies a company’s association with a particular social cause. These are company’s initiatives involving the provision of money, resources and/or publicity to socially beneficial causes in a way that seeks to create an association in the minds of consumers between the cause and the company or one of its brands.For example- the Tata Tea “ Jaago Re!” campaign. It is different from the conventional promotional campaigns in which the stress is simply on the benefits of buying a specific brand.
As we know every brand has a personality and reflects the organizational culture of the company. On promoting a social cause, the company sends a strong signal about the values and the culture of the organization. In this way, it creates a differentiation for itself from its competitors whose focus is on conventional promotional programs. By doing so, the company would attract those customers who feel for the cause and it gets a platform to connect to them emotionally and psychologically. This helps because next time the customer thinks of the social cause close to his heart, he would recall that there is this XYZ brand working for the cause and feels bonded to it. In this way, the brand attracts a new segment of customer and also increasing its visibility. As brand recall improves, there would be greater efficiency for other marketing efforts the company engages in.
The next advantage that social marketing gives is the building of reputation and goodwill of the brand in the long run. When the brand gets appreciation from those who acknowledge its social initiatives, there is a sense of pride that consumer would get in his association with the brand. This can simulate brand preference as all factors being same for two brands; one would prefer the brand promoting a good cause. Thus brand loyalty would increase improving the overall reputation in market and in corporate world. As the brand is strengthened, this gives it an ability to charge higher prices too.
At the same time, societal marketing activities are supposed to have helped many of the firms achieve better scores on ratings of the most admired and socially responsible companies. This would help them become more efficient in recruiting, retaining and engaging talented employees, since people may have more positive feelings about working for a socially responsible company. This will help curb attrition rate also.
Due to social cause marketing, the brand would get more favourable treatment from stakeholders such as regulators and investors. All these would ultimately lead to increase in market share, rise in revenues and stock prices. Thus we can see that by engaging in social cause marketing campaigns, companies will get higher returns and improve its brand equity.
As we know every brand has a personality and reflects the organizational culture of the company. On promoting a social cause, the company sends a strong signal about the values and the culture of the organization. In this way, it creates a differentiation for itself from its competitors whose focus is on conventional promotional programs. By doing so, the company would attract those customers who feel for the cause and it gets a platform to connect to them emotionally and psychologically. This helps because next time the customer thinks of the social cause close to his heart, he would recall that there is this XYZ brand working for the cause and feels bonded to it. In this way, the brand attracts a new segment of customer and also increasing its visibility. As brand recall improves, there would be greater efficiency for other marketing efforts the company engages in.
The next advantage that social marketing gives is the building of reputation and goodwill of the brand in the long run. When the brand gets appreciation from those who acknowledge its social initiatives, there is a sense of pride that consumer would get in his association with the brand. This can simulate brand preference as all factors being same for two brands; one would prefer the brand promoting a good cause. Thus brand loyalty would increase improving the overall reputation in market and in corporate world. As the brand is strengthened, this gives it an ability to charge higher prices too.
At the same time, societal marketing activities are supposed to have helped many of the firms achieve better scores on ratings of the most admired and socially responsible companies. This would help them become more efficient in recruiting, retaining and engaging talented employees, since people may have more positive feelings about working for a socially responsible company. This will help curb attrition rate also.
Due to social cause marketing, the brand would get more favourable treatment from stakeholders such as regulators and investors. All these would ultimately lead to increase in market share, rise in revenues and stock prices. Thus we can see that by engaging in social cause marketing campaigns, companies will get higher returns and improve its brand equity.
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