Indian markets need innovation
Racing ahead with the fast-changing global business dynamics, the gradual transformation of India into a business activity hub has caught the world’s attention. At the Global Leadership Summit held at Amity Business School, Noida, a group of corporate top brass offered their views on what India needs to adapt to survive amidst spiralling competitiveness in every sphere.
To face marketing challenges fundamental emphasis was paid to India’s need for innovation and differentiation. Krishan Gupta, CEO, Indo Dann, said, “India lacks innovation and believes only in selling. Germans are interested in benchmarking themselves, trying to gauge their strengths and weaknesses unlike the Indians. It is essential to understand one’s strengths and weaknesses and also to understand those of the competitor’s. Long term market is more important as against short term sales push”.
Observing the massive transformation in the business world, Sunder Hemrajani, Executive Director-Sales, Pepsico India Holdings, spoke about the growing economy, the evolving landscape, the increasing competition and a heavily discerning consumer. Hemrajani also stressed the need for continuous innovation for the world market which is changing very fast. He added, “There is a need for a global mindset that is adapted to local conditions. The new term used these days is Glocal”.
Speaking on sustainable competitiveness, SS Dubey, Project Office Manager, IBM Global Services, said, “Marketing is about doing things differently from your rivals. There is a need to be unique, to learn from the global model but not follow it. Race of change is relentless, flexibility, innovation and speed are needed to be successful in the market.”
Dilpreet Sahi, Vice President and Head Sales, Commercial Busness, ABN AMRO Bank, said, “Competitiveness is the deciding factor of how long you sustain. The dimensions of a nation’s competitiveness are product quality, their cost effectiveness and their timely supply.”
Marketing is a lot about your own attitude, said Kartik Raina, Chief Operating Officer, Dalmia Consumer Care. He said, “Sustainability needs alertness, constant motion, focus and team work. The team should not result in the loss of individuality but it should be a positive influence and not used as a crutch”. He added that marketing needs a blend of ‘arrogance’ and ‘evangelism’.
