International Womens Day (IWD)

International Women's Day

International Women's Day is celebrated on March 8, every year. The main point of this movement is that, get a recognition on women's rights and international peace globally. Women took part in the movement and went ahead in every field, and changed their society and system of the world. Now women fighting for their rights, facing the allegations and passing some questions in front of the society and the system.

Globally International Women's day celebrates the strength and achievement of women in various field such as Education, Science, Technology, Military Services, Civil Services, Entrepreneur, Business, Economics, Social, Politics, Art, Culture, Cinema, Sports, Agriculture, Software Engineering, Corporate sector, Media (Digital) etc. 

What people do on International Women's Day

On this day generally many events/programs are organising globally. From various sectors such as big eminent personalities, business leaders, leading educators are invited to speak at various events, Such events seminars, webinar, conferences, workshops with lunch and dinner. In school & educational organisation, on occasion of IWD, also organises debates many small to big events. And doing varies kind of activates such as gift distributed,lunch and dinner programs, many people pledge to take good work or new initiative to make memorable day.

History

After the Socialist Party of America organized a Women's Day on February 28, 1909 in New York, the 1910 International Socialist Woman's Conference suggested a Women's Day be held annually. After women gained enfranchisement in Soviet Russia in 1917, March 8 became a national holiday there. The day was then predominantly celebrated by the socialist movement and communist countries until it was adopted in 1975 by the United Nations. Today, International Women's Day is a public holiday in some countries, it is a day that celebrates womanhood.The United Nations began celebrating International Women's Day in the International Women's Year, 1975. In 1977, the United Nations General Assembly invited member states to proclaim March 8 as the UN Day for women's rights and world peace.

Glimpse and themes of last two decades on International Women’s Day

International Women's Day 2010

On the occasion of 2010 International Women's Day the International Committee of the Red Cross (ICRC) drew attention to the hardships displaced women endue. 

International Women's Day 2011

In the United States, President Barack Obama proclaimed March 2011 to be "Women's History Month", calling Americans to mark IWD by reflecting on "the extraordinary accomplishments of women" in shaping the country's history.

International Women's Day 2012

The UN theme for International Women's Day 2012 was Empower Rural Women – End Hunger and Poverty.

International Women's Day 2013

The UN theme for International Women's Day 2013 was "A promise is a promise: Time for action to end violence against women", while International Women's Day 2013 declared the year's theme as The Gender Agenda: Gaining Momentum.

International Women's Day 2014

The UN theme for International Women's Day 2014 was "Equality for Women is Progress for All"

International Women's Day 2015

The UN theme for International Women's Day 2015 was "Empowering Women, Empowering Humanity: Picture it!"

International Women's Day 2016

The International Women's Day theme for 2016 was "Planet 50-50 by 2030: Step It Up for Gender Equality".

International Women's Day 2017

The theme for International Women's Day 2017 was "Women in the Changing World of Work: Planet 50-50 by 2030".

International Women's Day 2018

The theme for International Women's Day 2018 was 'Time is Now: Rural and urban activists transforming women’s lives'.

International Women's Day 2019

The theme for International Women's Day 2019 is 'Balance for Better'.

Public Holidays

On occasion of International Women’s Day, in some countries such as Azerbaijan, Armenia, Belarus, Kazakhstan, Moldova, Russia & Ukraine have celebrated as a public holiday. 

"Women are the real architects of society."  

What is marketing channels, functions and structure?

Marketing channels and functions

A marketing channel is a set of interdependent organisations involved in the process of making or manufacturing a product or providing service available for end user consumption or use.

There are four level of channels:

1. Zero-level Channel:  Producer → Customer 
2. One-level Channel:   Producer → Retailer → Consumer 
3. Two-level Channel:   Producer → Wholesaler → Retailer → Customer 
4. Three-level Channel: Producer → Agent/Broker → Wholesaler or Retailer → Customer

There several reasons to manage them:

• Channel is a gatekeeper between the manufacturer and the end users,
• It is an important asset in the company's overall marketing and positioning strategy,
• The channel experience strongly the end users overall perception of brand's image.

The two factors affect the development of channels and provide the reasons to change through time.

1. Demand side :  Consumption, Investment, Government spending or exports

2. Supply side :

Marketing flows are the elements of work that are done by members of marketing channel. A channel member cab be eliminated from channel, but the flows  performed by that  member  typically cannot be eliminated, thus, before eliminating a channel, the channel manger should consider the cost of replacing the performance of that member’s channel  flows.

The key members of marketing channels are:

Manufacturers

Intermediaries (Wholesaler, Retailer) &
End-users(Customer, Consumer)

Analysis of Channel Framework Process

• Channel Design &

• Channel Implementation

It is crucial to help the channel manager to create effective and  efficient routes to market, whose members continue to be willing to perform the channel flows designed for them to perform though time.

The goal of the channel manager is to achieve channel coordination,a state where channel members    act to further the goals of the channel,rather than  their own independent goals.

Segmentation for Marketing Channel Design

An end users' channel preference decision about :

• Where to purchase a product or get a service

• What the end user is buying 

• How the end-user wants to buy it

Service Outputs:

How the product and service bought are called service outputs.Service outputs are the productive output of the marketing channel,over which end user have demand and preference.

A general list service outputs, customisation to particular marketplace context, is:

• Bulk Breaking:Break their bulk to sell to individuals or retailers
• Spatial convenience: Customer satisfaction by reducing transportation cost and search cost 
• Waiting & delivery time :it is the time between the actual processes of action/service
• Variety and assortment:Breadth and depth of the merchandise
• Customer Service: Assistance before/after sales/service both
• Information procedure:Accountability

End users stop trading between different combinations, before their final purchase decisions

a). Product attributes
b). Price and
c). Service that offered by sellers

Service output demands:
Segmenting the market by service output demands is a useful tools for channel design, because the resulting groups of end users are similar in terms of the channel the serve their needs.

1. Cost
2. Competitive
3. Ease of entry and
4. Compensatory 

The service output demand analysis to a assess segment attractiveness,target a subset of the segments identified,and customise the marketing channel system solution used to sell  to each targeted segment.

---to be continue---

Reference:Marketing Channels(Pearson),Marketing Management: (Pearson)

How artificial intelligence is transforming the life?

There is big myth about the Artificial Intelligence,that will replace the humans capital,but i would say that, it is helping hand of human being that can make more easier and provide the automated and friction less experiencing to our customers.

From mid 90's, we heard, computer will cut the jobs of humans. Now times has changed  we are in digital revolution age, now it is very difficult to define to culture of technological  innovation in digital age. Each and every sector has day by day improving the better customer experience, smarter society by the help of technology. 

How artificial intelligence works?

Artificial Intelligence (factors Machine Learning,Deep Learning & Data Sciences) combines the large amount of data  and give  the result in fraction of time like human intelligence.

Application of Artificial intelligence in marketing:

The automated system should be manage the our data mining algorithms and insight of customer data and improving the better service to customer.Its manage the PSYCOGRAPHIC behaviour of customer. It also help in decision making. And banging the CRM. It allows system to monitoring the overall performance of campaigns and tracking. 

Forecasting:

It is the process of estimating future data from existing or new business. Artificial intelligence are provides the accurate data to take a decision for demand forecasting ,supply forecasting,sales forecasting,so that company can deliver the goods and service on stipulated time and make customer happy.

  

Automation:

Artificial intelligence in automation, means there is no human intervention,

A restaurant (Hema's Robotic restaurant) in Shanghai is fully automated with no any human getting order and serving food on table,only robots are able to do so, by Alibaba group. And the notion Amazon robotics is that to fulfil the consumer demand in faster product delivery service. 

Analysis:

Artificial intelligence have given analytics report in fraction of second,so we can reduce time and money.

Decision making:

Artificial intelligence can deeply understand the customer needs and wants on the basis of market segmentation in digital age by the help of big data (customer behaviour on their psychoghraphic analysis) and provides the marketing decision in long term run.

Customer relationship management:

Customer is king,retention of the customer is a crucial part of any business.Now in customer/consumer age , they have many option to opt any brand. It is one of the most crucial part to engage our customer.So AI can understand and identified the problem (pre-sales and post sales data) and provides to the customised and personalised services to the every individual customer, according to their needs in right context at the right time, And over all enhance the customer satisfaction.

Application of Artificial Intelligence on personal digital assistant:

AI Enabled Voice search: These are AI enabled personal digital assistant,voice search can reply answers to you as per your query.

Hey google(By Google), Alexa(By Amazon) , siri ( By Apple),Watson Assistant  (By IBM), cortana (By Microsoft), It will provides you customized personalized answer  according to your data such as if you looking for flight for New York to London,then it provide the information according to your budget and your habits.

AI enabled in Chat Boat: 

Eva (By HDFC bank),Ask Disha( By IRCTC) these are  Artificial Intelligence enabled chat boat, It is  Real-time customer support and enhance the customer experience.

Online customer support:

Now a days automated customer support serviced by artificial intelligence,It is  Real time online customer support.

   

Application of Artificial Intelligence on Banking for fraud detection:

Many banks are using various software that enabled with artificial intelligence to detect and predict the transaction whether it is fraud or not.The AI consists with sample data and predict the fraudulent and non fraudulent data,and learn about the transactions whether it is valid and fraud on transaction data.After further time being AI understand the real-time fraudulent,based on learned previously from big data.

Application of Artificial Intelligence on cyber security:  

Nowadays cyber security is very challenging because every day cyber attacks cases are  increases.Hacker are using tools to do the attacks.Now manually, its very difficult to defenses from attackers.Most of companies are using very advanced tools to protect the data. Artificial Intelligence can give the real-time threat detection,mitigation,prevention. Using Machine learning and deep learning algorithms on big sample data and give the training by expert to the Artificial intelligence to learn about the monitoring,predicting,detecting and adapt and respond to prevent the threats,and alert. Artificial Intelligence plays very important and essential  role in cyber security to providing multi layered security that is very powerful and elegant.
                                                        
                                                         ----

"Nowadays scientist are working tremendously to use the Artificial Intelligence in each and every industry like Earth science, Computer technology, Astronomy to understand the universe and give to the better quality of life to society like human intelligence." 

   

Digital Transformation: Are you struggling to transform your business in digital age?

It is a remarkable changes of rapid adoption of Digital tool,technology & platform in last couple of years. Nowadays it has played amazing role to adaption and changes of customer experiences.Take the example of world population of 5.1 billion mobile users,4 billion internet user,3.2 billion social media user out of 7.6 billion.  

Internet of things (IoT), Internet of everything (IoE), Web of Thing (WoT),Big Data, Artificial intelligence(AI), Machine learning, Deep Learning and Block Chain these technologies are enabled with multiple technology that can be remotely monitored,controlled and most important in the customer centric age, digital technology have become surprisingly powerful in couple of years.

Digital Transformation

It is about changing our thinking or way of thinking towards an organization/s (Customer experiences,Operation process,Business Model,Implementing new Technology), just like People develop own way of thinking, based on their experiences.

Integrated system to turn this Data insights, insight into outcomes, Digital transformation requires to focus on business value, not just technology changes, creates website, and social media post,likes,share, but its empowering team,creative marketing strategy, innovative organisational culture and finally providing the unmatched customer experiences.

How does the business transforms in digital age? 

1. Understanding the customer behaviour: 

Earlier customers as mass market focused on efficient scale of Mass  production that mean one product serve to many  and mass communication, use a common message at same time to many customer.But now in digital age customer networks, dynamically customer connected, interacting and influence each other.Now digital tools is changing how the customers discover, evaluate, purchase and use the product/service and share experiences , interact and connects with brands.

As in digital age customers have expecting customized, personalized and meaning full experience or more than that.  We have to understand the customer psychographic in digital age, rethink the traditional market to modern market approach and understand the customer buying behaviour,most important, find out what are the things motivate to customer.

2.Competitor:

Those who have in same products/services can be your rivals businesses such as Flipkart and Amazon. Sometimes different industry, company can be your rivals and giving service alike you.Sometime your business partner can be your competitor and start giving service direct to your customer.At same time you have to co-operate your direct rival business.Competition give the chance to survive, and also give lesson to learn.

3.Big Data: 

Previously data taken from internal only such as production,operation,marketing, sales Data taken from internal and external both and used for evaluating, forecasting analyzing and decision making.

Nowadays data taken from different sources (internal and external) known data from different sources such as online media, social media comments, mobile app data, market research, feedback etc.But these data is unstructured and not generated without planning.

4. Innovation: 

Competitor plays a very pivotal role in innovation. For long term success, "INNOVATION" is playing a crucial role for any industry/ organisation. Innovation isn’t solely represented by new ideas or methods, but also by the process of uncovering new ways to do things. In the early 90s, “Innovation” known as technology, but in digital age it’s known as “DESIGN”.

"Technological innovations designed to save energy".

INNOVATIVE CHALLENGE:

• Market expectations
• Global competition
• Volatility in structural change

BENEFITS OF INNOVATION:

• Improved productivity & reduced costs
• Better quality
• Building a product range
• To handle legal and environmental issues
• More added value

RISKS OF INNOVATION:

• Competition
• Uncertain commercial returns

Examples: Product innovation by a business might include a new product's invention; technical specification and quality improvements made to a product; customer friendly. With the rapid change of digitization in each & every sector nowadays ,innovation is happening under conditions of much greater uncertainty. Now firm can rely on expensive and incremental improvements  to its existing business.

5.Value proposition: 

Previously value was constant for their consumer and It also define by company.In digital age, what and how motivates customer.Product might be innovated; marketing campaigns should be refreshed to viewer.

(Example: Amazon's value proposition as: "Amazon is a super-aggregator of vendors and customers, giving people a compelling, one-stop online shopping experience with easy access to products, information, and friction-free delivery& return-refund experience".)

"Digital transformation strategy, is not about Implementing the new technology, but it is more about overall strategic thinking for an organisation and find out what are the things motivate to customer."

Digital strategy a new wings to your business

 

How digital strategy are new wings to your business?

You should have the strategy for any kind of business. Without a strategy, no any business can imagine and will survive in a digital age. Nowadays customers are (digital customer/consumer) very much believes in digital presence if anything whether it is small and large and whether it's relevant or not. No, any marketing automation technology will work without a concrete strategy.

"Strategy, not technology make a business transformation."

There are endless possibilities in digital evolution, but the question is that, How will we identify the right digital initiative? Only creating a website and app is not a digital strategy.

Digital strategy: When it created and executed in the right direction and right way at right time means digital age. Basically, it is consist of 4 phases such as

1. Set a vision to make the bridge
3. Create a business case
4. Priorities the work 

2. Stop and think: Internal factors of your company whether our business on optimum positing, external factors such as expectations of customers and development of ours and other industries and what's the current  trends followed by our competitors.

Now Customers expectation is more than the personalized and customized experiences.

The consumer needs easy and friction-less experiences.

  

Customer buying process becoming more social such as consumer are more curious, demanding and impatient, Researching everything, there is no matter how small it is, expecting automated tailored experience and making decisions faster than ever that it had been previously.

Digital strategy, there are mainly 5 phases such as

                                                                                                                                                                     

1. Audience: Who influences the digital culture: Culture needs to support collaboration and creativity.who talk about your brand, who is an evangelist:

1. Youth
2. Women and 
3. Netizens

The role of 'YOUTH' [Mind Share] in influencing the market: 

• Early adopters
• Trendsetters
• Game changer

The role of 'WOMEN' [Market Share] in influencing the market: 

• Information collectors
• Holistic shoppers
• Household Managers

The role of 'NETIZENS' [Heart Share] in influencing the market: 

• Social connectors
• Content contributors

2.Content: It should be engaging and relevant: Every audience have look for specific content, but it is very difficult to engage all the target audience of the same content, it sometimes, it's only 25% or 50% relevant to audiences. So we should make it personal, customized and tell stories to engage, info-graphics format.

3.Platform: Channel- customer expectation is very high from you. we do not know how and which way audiences reached you with their multiple queries. So the selection of a channel is very important.

4. Analysis: It is kind of measurement of all kind data analytics, give a real-time result, whether it is business data and sales data or any other related data and comparing the data from current data to previous one.

5.Implementing: 

Create a worth executing,

Set a goal as measurable, achievable & Relevant 
Follow through goal

Measure progress weekly,

meeting objectives for long-term business performance

"Digital strategy, is not about upgrading the technology, it is more about upgrading strategic thinking while understanding the human behaviour."

Source:Marketing 4.0: Moving from Traditional to Digital