FMS-Delhi Holds 31st Edition of Annual Convention 2007

FMS-Delhi Holds 31st Edition of Annual Convention 2007

Ms. Nita Kapoor talked about the creation of the massive new Indian middle class and the extremely dynamic Indian market behaviours. However, she identified that certain ingrained cultural and social paradigms in the country have remained unchanged over time upon which

marketing campaigns could be based to adapt them to the present day scenario and make them relevant and appealing to the customer/consumer. Some of the parameters she mentioned were relationships, religion, art, marriage et al.

Mr. Kamal Oberoi talked about the changing canvas with respect to the advertising function of marketing and the new mantra of materialism, which suggests that success matters more than anything else for today's youth. He also stressed that brutal simplicity is extremely important in order to appeal to the consumer given the information explosion that has taken place. Mr. Nagpal suggested that the success of a brand and the likes and dislikes of an individual depend on the appeal to the senses and the experience in case of services. He also believes that the focus on one particular feature of the brand should be emphasised for a successful marketing campaign. Through his four-phase model of Presence, Relevance, Performance and Bonding, he presented a lucid understanding of marketing as a function.

Session II: "Building Financial Resilience in Changing Times"

The theme for the second session of the day was "Building Financial Resilience in Changing Times" with the discussions centring on analyzing and structuring robust financial decisions for India Inc. to grow and prosper in the current business scenario. Mr. Gunit Chadha, CEO & MD, Deutsche Bank India, spoke on issues concerning the present day global markets including the sub prime crisis, use of financial instruments and securitization. Responding to a question on whether one should look into usage of financial engineering models given the consequences such as the sub prime crisis, he reiterated that such instruments have done more good only than bad and have resulted in getting better asset-liability matches and better risk management.

Mr. P. K. Choudhury, Vice Chairman, ICRA Ltd. & CEO, ICRA Group, called for getting global capital inflow at a competitive price and not at an inflated price and wanted a reduced dependence on mathematical and statistical models for judgmental decisions. Dr. V. K. Garg, CMD, PFC Ltd., reiterated the need to build sound infrastructure capability that would be the backbone of building financial resilience in the country.

Dr. K. C. Chakrabarty, CMD, Punjab National Bank, gave a banking perspective of the need for building financial resilience and said that the Indian public is more insulated from financial shocks and instability due to less exposure to the banking environment. Replying to a question on the current financial resilience of the Indian economy, he said that on a scale of 1 to 10, today's situation would command a very high rating of 9 but things could be different when markets are opened up.

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Contributed by -
Pritish Mehta,
Media Relations,
Faculty of Management Studies, Delhi.

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