Resources

Outsourced CMO is growing up fast! Started as a one-man army and on a simple concept of shared resources, we are now gaining popularity not only amongst SMEs but some well-known and well-established businesses and are close to 10 people strong team. The latest addition to the list is the association of OCMO with Vidal Healthcare, one of India’s top TPA companies offering services to health insurance policy holders.

The Shared Economy Concept, at its core, is based on the most efficient use of money and resources. In the era of start-ups, gathering the resources is the most challenging aspect of any start-up. The broader vision of the founders of a start-up need to be simplified into micro plans so as to achieve the objective initially set.

Profit being the key driver of any business, all its activities are necessarily aligned to achieving this goal. Employee engagement is one of the means being increasingly employed by businesses worldwide to maximize their profits.

Every business wants to grow fast. All businesses want to cut costs. But is it possible for businesses to grow fast and at the same time cut marketing costs? Until recently that question was rhetorical with only one possible answer: NO.

A consumer’s decision to purchase a product or service is dictated by several rational factors like pricing, utility, affordability, reviews and comparisons. But beyond such tangibles there is one factor that every marketer needs to be aware of: EMOTIONS! Why would people otherwise choose expensive branded products over their exact generic equivalents selling at a fraction of their price? Emotions typically operate on a level of irrationality, that is both undefinable and undeniable.

Over years marketing adapted well to changing times. From the Silent Generation and the Baby Boomers to Gen X and Gen Y, every period in time has heralded its own marketing challenges. Even so, the challenges posed by Gen Z to marketers are incomparable, as it is the first ‘digital native generation,’ a population that has never seen a world without the Internet and digital technology. The denizens of Gen Z have integrated technology seamlessly into their lives.

Marketers react to a saturated market in different ways. Many are discouraged by the very thought of entering a saturated market, others find it tough to survive in such market yet there are other entrepreneurs who not only survive but grow in a saturated market. Then there are those who are at the start of their business journey but are unfazed by a market filled with potential competitors and carve out a niche for themselves in this very market.

The latest buzzword in marketing is empathy. Many companies are successfully utilizing the power of empathy to push their brand to the next level.

Environmental degradation has been hitting the headlines across the globe for quite some years now. Corporates, governments and consumers are beginning to realize that unsustainable production poses a grave danger to mankind. This realization has lately given an unprecedented boost to green consumerism that started as an idea in the Western societies way back in the 60s and 70s.