2nd Wave of Covid-19: Economy and Business

2nd Wave of Covid-19: India Caught Unaware! The optimistic expectations of multiple international rating agencies and IMF’s bright prediction about India’s growth recovery have come to a screeching halt disappointingly with a sharp spike in covid-19 cases across the country. However, the pattern is not unexpected and such potentially deadly spread of the virus has…

Preparing for a Post-Pandemic Business world: Managerial Essentials

Covid-19: A transformative phase for you, me and all With the global economy facing persistent uncertainty, most businesses are grappling to come to terms with the impact of the COVID-19, with a future seeming both uncertain and risky. For several businesses globally including those of India, the next few quarters will have only one important…

The Psychology of Money by Morgan Housel – A Book Review

I was scouring Amazon’s vast library for a fiction to read, as it has been a while that I read a good ‘whodunnit’ or its ilk. While searching, this book jumped up on the suggestion list (though it is not a fiction) and as it was ordained, I just had a glance at its blurb…

Myth 8: Branding = Advertising

“Ninety-nine percent of advertisingdoesn’t sell much of anything.”– David Ogilvy This is another commonly held myth about marketing. Many, entrepreneurs and amateurs alike, think of branding only as a way of creating image. Ask them and they will say that they are practicing branding. Probe further and it will be revealed that they have a…

Myth 7: More the expenditure better the Marketing

“If one does not knowto which part one is sailingno wind is favorable.”– Lucious Annaeus Seneca Some time back I was advising a real estate development firm on marketing. Their project was a self-content township in the outskirts of the city. Around the same time another project of similar size was launched, again in the…

Does Tata Tea Boost Community’s Immunity?

A Chinese doctor, Li Wenliang, was in news recently for endorsing the benefits of drinking hot tea as a preventive for and relief from Corona virus infection. Sadly the doctor succumbed to the virus later. He claimed that an element in tea known as Methylxanthines substantially reduces the impact of corona virus. Some Chinese hospitals…

Myth 6: Marketing = Selling

Every moment is a golden onefor him who has the visionto recognize it as such – Henry Miller This myth of ‘marketing = selling’ is probably one of the most commonly held myths about marketing, by amateurs and entrepreneurs alike. This is also one of the most dangerous myth since its potential damages to the organization…

Myth 5: SMEs cannot fight against big competitors

If you were to challenge Mike Tyson?… Go ahead!Challenge him for a game of chess. On a beautiful day in October 1997, India woke up to a very catchy jingle, “Aaya naya Ujala. Char boondo wala. Ha ha!” No one, at that time, thought that history was being created. In a very short time from…

Myth 4: Marketing is one time activity and required only during launch

“Whenever an individual or a business decidesthat success has been attained,progress stops.” – Thomas J. Watson There used to be two foot over-bridges in south Mumbai – one on the Marine Drive near Marine lines station and another outside Churchgate station. Both were used more as ‘advertising gantries’ than FOBs. In the late ’80s, an…

Myth 2 : Marketing isn’t required if you sell whatever you produce

 “Success isn’t permanent,and failure isn’t fatal.”– Mike Ditka    In the ’70s and ’80s, if you wanted to own a Bajaj scooter, you had to be lucky that your father booked it some 4-5 years ago or you had to find someone who was willing to sell his ‘allotment letter’ at a premium. Imagine a company…

Myth 1: Is Marketing only for MNCs and not SMEs?

A few months ago, I was taking a compressed course on marketing for a group of second generation entrepreneurs. During the introduction, I asked the participants to describe their current ‘marketing practices’. And almost everyone responded that they are a small or medium enterprise and do not need professional marketing practices. They are not exceptions…