‘Focus on one-to-one marketing’

Our Management Bureau in New Delhi

The challenges of recession on brand-building were discussed in detail at the marketing round-table organised by the Institute of Management Technology (IMT), Ghaziabad, as part of its annual round of events, Synergies 2001. Addressing students, Mr Bhuvan Kulshreshtha, general manager, sales, Xerox Modi Corp, advised that companies should ‘‘focus on one-to-one marketing — taking the communications platform and using it in customisation of products as close as possible to customer needs in tough times.’’ Whenever recession hits, it hits the topline first and then the bottomline, he added.

He also said that,‘‘Recessionary times bring out the best opportunity to build customer relations. In bad times there is more emphasis on knowing customer needs and building long-term relations to promote sales.’’

Mr Santosh Sood, director, Lowe Lintas, said,‘‘never begin by thinking that you are a weak brand trying to consolidate your position — start with a strong brand trying to become
better.’’

The central theme of Synergies 2001 was how Indian businesses, confronted with an environment of constant flux, should stand up to the challenges thrown up by the times. With global recession taking its toll on Indian businesses, it is a strategic imperative for the entire corporate sector to re-examine their business models in the light of global recessionary trends.

While the marketing seminar focused on ‘‘The challenges on brand-building during recession’’, the finance session centered on the theme ‘‘Cost leadership strategies in the financial services sector in recession.’’ The session agreed that quality improvement in services would be the main cost driver.