DMS IIT Delhi holds Marketing Confluence to address economic slowdown

The seminar was the first in the Idea series based on the theme of Marketing in the time of Recession. MBAUniverse.com was the Official Management Portal of this seminar.The speakers who spoke at Confluence include Prasad Narsimhan, Chief Marketing Officer, Virgin Mobile; Arun Tyagi, General Manager- Corporate Marketing, India Mart; Sandip Vij, Executive Director, Mudra Communications; Vaibhav Kumar Tanwar, Marketing Manager - Godrej Consumer Lifespace; Mr K V Damodaran, Joint Advisor at the Telecom Regulatory Authority of India (TRAI). Some of the other dignitaries who participated in the Media Conclave and panel discussion on the theme Marketing in the time of recession, held during the 2nd session, include Mr R K Baisya, Professor at DMS; Mr Ajoy Shah, Chief Product Manager, JK Tyres; Deepak Shetty, VP Marketing, Moser Baer; Gaurav Gupta, Former MD, ABB; and Mr.Sandeep Amar, Online Marketing and Business Head, Simplymarry.com.

The panel discussion was moderated by Ms Preeti Mehra, Deputy Editor of the Hindu Businessline. While stressing on developing innovative ideas to counter the current economic crisis in the marketing field, Mr Prasad Narsimhan said, The marketers are required to change their linear approach, and they should think laterally to tackle the current slump. The marketers should cultivate innovative ideas in their minds to excite consumers.

While speaking on the current economic recession and its impact on the marketing field, Mr. Sandeep Vij said, Although the impact of this economic recession has been immense on the major economic powers of the world including the US, India has not been impacted with this slump much as the growth rate is still over 6%. But he was agreed that there is a huge pressure to control cost and maintain liquidity in the industry. Mr. Vij further added, The present scenario demands aggressive agility and flexibility in the functioning of marketers.Mr. Vaibhav Tanwar was of the view that in this critical phase, marketers should think about short-term objectives rather than developing strategies for long term. He said that there is a need to stick to core values of marketing rather than experimenting at all levels. Mr. Tanwar said, The marketing plan differs from time to time, place to place and product to product.This Idea series Marketing Confluence saw a lively interaction between the students and guest speakers exchanging innovative ideas to create new avenues in the marketing management field.