We
live in a world of cutting edge technologies and innovation . As a matter of
fact what can update and innovate and change itself as per the need remains and
rest all perishes gradually . In such a
dynamic world place the concept of business and the environment surrounding it
is having very different paradigms today .
Amongst
the various business verticals it is very interesting to see the transformation
of the marketing vertical . There were times when mainly people went for
shopping as per traditional ways and marketers strictly followed the
traditional norms of wooing the customer and the end consumer.
But
now there is rotational shift in the thought process of customers and thus the
marketers as well .
Buying
is no more a distinct and exclusive process. It can be done at any point of
time or to say at all point of time depending on our rational or impulsive
cognitive process .
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With
a click of we can fulfill our needs and wants. Online Shopping verticals and E
Commerce ventures have totally transformed the marketing concept . People like
Sachin Bansal of Flipkart , Pranay Chulet of Quikr , Ashish Goel of Urban
Ladder , Ankit Khanna of Snapdeal , Vijay Shekhar of Paytm to name a few have
totally innovated and revolutionized the marketing ways and have given enough
silent lessons to big honcos of
marketing world . Joining the band wagon
even the glittery bollywood is making hay in the sunshine. Online labels is the
latest bollywood fashion . Stars co create , lend names to fashion labels as
huge fan base offers high volumes of business opportunity. Shahrukh Khan with
YepMe , Aamir Khan with SnapDeal , Hritik Roshan with Myntra , Alia Bhat with
Jabong , Shraddha Kapoor with Amazon , etc are few celebrities associated for
helping increase the valet size and volume base of the said companies.
The
latest innovation in marketing order is the increasing use of mobiles in
marketplace. It is amazing to know that approx half the online transactions on
the e-commerce ventures are via mobiles . If we consider the figures of mobile
online transactions the business accrued from mobiles for Flipkart is over 50%
, Quikr over 70% , SnapDeal over 70% , Urban Ladder over 33%, Paytm over 90% to
name a few . Consumers are switching from online broadband usage to online
mobile usage .In the year 2010 the consumer base of broadband was 10.7 million
whereas mobile usage was a meager 2.00 million , in 2012 the broadband usage
was grew slowly to 20 million whereas mobile usage shot up to 51 million and by
2014 end the figures show a
transformation broadband usage crawls to 32.4 milllion whereas mobile usage
exponentially grows to 196million and is
projected to touch 290 million users by end of 2015. It is also projected that
there would be 125 million online buyers in India by 2019 end. Its apparent
without innovation broadband online usage is gradually fizzling away and with
continuing innovations mobile online usage is sizzling like a oven fresh
sizzler .
Lastly
to sum up innovation is the key driver to the market place. With 4G technology
at the doors , mobile online usage would be the key to core marketing strategy
and to goldmine the massive Indian marketplace . It’s the beginning let’s see
it grow.
______________________________________________________________________
Dr
Himanshu Mohan ,
Professor of Marketing and Program Director BBA
Amity
Business School , Lucknow Campus.
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