Odisha Sun Times Bureau
Bhubaneswar, Sept 27:
The Odisha-based KIIT School of Management (KSOM) organized its 5th National Marketing Conclave on the theme “Youth Marketing” here today.
With the rise in consumerism, social and cultural changes, access to technology, information through internet, increased spending power and the onset of social media tools, the youth today has become a prime target group for marketers. That made the theme of the Conclave so very relevant.
The event was inaugurated by Prof. Abraham Koshy of IIM Ahmedabad, chairman of The Federal Bank Limited as the Chief Guest and Jagdish Mahapatra, MD, India and SAARC in the presence of Prof. P.P.Mathur, Vice Chancellor, KIIT University and Prof. Anil Bajpai, Director, KSOM.
The theme of the conclave was introduced by Prof. Anil Bajpai when he spoke about the growing importance of the youth as a demographic segment in the context of the current marketing scenario.
In his address, Prof Abraham Koshy stressed that youth as a segment is always different. Marginal adjustment in company strategies would not be sufficient for adapting to dynamic changes in youth preferences. Information consumption behavior in youth has to be analyzed differently, thereby making conventional research methods irrelevant. Process of value creation needs to be redefined by correct identification of value gaps and value communication.
Delivering his keynote address, Jagdish Mahapatra said the 4 C’s – Connect, Content, Conduct and Character play an important role in making an individual flexible and globally adaptable. He emphasized on the importance of developing India in the right direction in order to be recognized as a global player.
The first panel discussion was on ‘Youth Marketing – Impact on Rural to Urban Migration’. It revolved around how migration of population from rural to urban area is affecting marketing dynamics. The panelists unanimously agreed that more than marketing, it was economic activities and economic necessities which propelled youth to aspire for urban lifestyle.
The focus was also on the shift from agriculture to service industries that India is witnessing. Prof. Anil Bajpai moderated the discussion that had Madan Mohan Mohapatra, Head-Customer Strategy, Future Group, A.L. Jagannath, Director- Marketing, India & SAARC, VMware, Sanjit Padhi, Director, Advent Sports and Gokul Venkataraman, Strategic Marketing Leader, Owens Corning as the panelists.
For the first time, a youth panel discussion was conducted as part of the conclave. The panel consisted of young entrepreneurs and students who brought out the youth’s perspective on marketing.
Later in the day, 15 workshops were conducted by industry luminaries on topics like Marketing to Digital Youth, Marketing Strategy of Youth Brands and several others. The conclave also had competitions for undergraduate and postgraduate students, which saw participation from all over India.