Marketing Summit, Mercatique '08, Held at XIM, Bhubaneswar

Marketing Summit, Mercatique '08, Held at XIM, Bhubaneswar

On the 18th of October, 2008, XIM, Bhubaneswar hosted Mercatique '08, a marketing summit organized by MAXIM - the marketing committee - of the college. It gave the students the opportunity to interact with a range of leaders from across the industry.

Leaders from Various Industries Participating in Mercatique '08 at XIM, Bhubaneswar

The students were addressed by four speakers: Mr. L. R. Natrajan (Vice-President & Head, Goldplus & Jewellery Manufacturing, Titan), Mr. Alexy Ninan, (Trade Marketing Development Manager, ITC Ltd.), Mr. Biju Dominic (CEO, Final Mike Consultant Pvt. Ltd.), Mr. P. K. Panigrahy (Deputy General Manager, UB Group), on the topic "Marketing Strategies Targeting the Bottom of the Pyramid".

The event started with the lighting of the lamp by the moderator, Prof. M. N. Tripathi, a faculty member at XIM-B, and the various panelists. During the discussion, stress was laid on value-oriented marketing strategies to tap the rural potential and understand the consumer preferences. One of the speakers highlighted the lucrative aspect of the sector by raising specific examples that owe their current market status to success in rural market. The key element is considered to be the trust factor that is responsible for retaining customers and establishing brand value. Strategies like cutting down excise duties and further reducing prices to ensure that the products stay competitive with respect to local products were suggested by the speakers, because by doing so, it can be ensured that quality products reaches the rural markets and the brand presence increases.

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Contributed by -
Dinah J. Rodrigues,
Coordinator, IlluminatiX,
Media & PR Cell,
Xavier Institute of Management, Bhubaneswar.

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