Marketing has undergone rigorous metamorphosis. Tools such as Artificial Intelligence (AI), Augmented Reality (AR) and Big Data Analytics have become integral to the marketing function. Identifying, reaching out, converting and retaining customers; now almost requires the skills of an ardent & skilled computer programmer to devise strategies and implement them effectively. Keeping this in mind, GNIMS Center of Excellence for Marketing (GCEM), an initiative of SGPC’s Guru Nanak Institute of Management Studies came up with Marketing 5.0 as the theme for Vipanan 2019, their Annual Marketing Meet.
It was an event for discussing the various avenues for Marketing professionals in the future, while also an occasion to felicitate the Best Marketing Campaign, Best Marketing Faculty and Best Marketing Manager for their work during the previous year. GNIMS also launched the Centre of Excellence for Marketing during this Occasion. “Our vision is to be the center for imparting marketing education with modern advancements”, said Dr. D Y Patil, Director GNIMS. ‘Hindustan Unilever’ won the award of ‘Best Marketing Campaign of the Year’ for their heart-touching and thought-provoking campaign to promote the cause of Saving Water under the banner ‘start a little good’. Also, Professor Vandana Khanna of K J Somaiya Institute of Management Studies and Research was honored as ‘Best Marketing Faculty’ award. “Our efforts are to create modernized learning and facilitate students with latest industry happenings”, said Dr. D. Y Patil, Director of GNIMS.
Various stalwarts from the industry had graced the occasion with their presence including Chief Guest Mr. Sanjay Ubale (Head – Infrastructure and Urban Solutions, Tata Sons), Guests of Honor Mr. Faisal Farooqui (MD, Mouthshut.com) and Mr. Siddhanth Lahiri (Head – Strategic Planning, Mumbai, Reddifusion Y & R). The event carried a panel discussion of dignitaries on ‘Future of Marketing – Glimpse of things to come’ and notable marketing professionals. The panelist included renowned professionals like: –
- Rushabh Vasa (MD, Agrahyah Technologies)
- Nayan Bheda (Serial Entrepreneur, Startup Guru, Mentor)
- Jerry (Cyber Security Specialist)
- Arun Sehgal (Chairman, Chempro Group)
Also, Guest of Honor Mr. Siddhant Lahiri, being fascinated by the seminar joined the panel which was moderated by Mr. Arun Sehgal.
The ceremonial event was inaugurated by Dr. D. Y. Patil (Director, GNIMS) and Dr. Ajit Singh (Director General) along with the dignitaries’ present by the lighting of the lamp & prayer song. Dr. D. Y. Patil welcomed all the guests while sharing his thoughts on the theme of the event. He believed the obsoleteness of Camera companies such as Kodak and Nokia’s failure in the mobile industry has spread a curiosity to gain insights into the advancements causing technological disruptions. He said that such forums were necessary as due to the fast-paced life there is lack of time to read and stay relevant.
The keynote speaker & Chief Guest of the event Mr. Sanjay Ubale said that “Technology is the need of the hour, we must cope up to the changes in the technology to be the global marketer. Artificial Intelligence is all set to change Theories of Marketing.” He also gave a message to the young audience about taking up responsibilities and fulfilling them in time.
The next speaker was Guest of Honor Mr. Faisal Farooqui, who emphasized on the significance of branding and recall value by giving the example of Apple Inc. transforming our society since 1976. He also highlighted the need for all the departments in the organization to work in sync to achieve the organizational objectives. He shared the story of Nokia Company’s failure due to lack of coordination and resistance to adapt with the dynamic business environment.
His speech was followed by an excellent presentation of Mr. Siddhanth Lahiri who made the audience realized that we have already stepped into the future. He shared few Ad Campaigns around the globe that are already making use of augmented reality in simple products like band-aids. Also, the use of Artificial Intelligence made in our daily lives was highlighted in his presentation through varied illustrations viz., IBM’s Weather Company data adjusts the advertisement of products as per the weather on our social network pages. He summed up his address by providing the marketing audience with some intimidating statistics like, “85% of Consumer Interactions will be managed without human intervention in 2020”.
Post lunch Panel discussion started with the students introducing the fabulous panelists assembled at the institute. The Moderator, Mr. Arun Sehgal initiated the conversation by stating that if we want to create a sustainable business then we genuinely must make this world a better place. He praised the Institute for picking up such a timely & important topic for the Marketing event. He said that Marketing has evolved and is constantly evolving with the tools such as AI, AR & Big Data. We are moving from transactional marketing towards experiential & relationship marketing.
One of the panelists, Mr. Nayan Bheda, Entrepreneur and start-up guru said that we are likely to face unemployment of 50% due to artificial intelligence growth. He also talked about the emergence of big data and blockchain technology as a digital marketing tool. Mr. Jerry being a cyber-security specialist, highlighted the growing significance of digital marketing, SEO and the threats accompanied along with it.
“Artificial Intelligence will never Replace Humans”, said Mr. Siddhant Lahiri, whereas Mr. Rushabh Vasa, further explained that “Jobs will be growing in future but we will need new skills to cater with the advanced technology. So, there will be a huge gap between available jobs and skilled manpower.” Mr. Jerry added that there is a need to go with technology to remain in the global market place. Securing your data in the rapidly growing technology era is essential, felt the panelist.
To conclude the seminar the moderator posed the panel with an important question about the growing competitive world, disrupting businesses and the need for continuous innovation. On which Mr. Nayan Bheda said that Innovation does not always mean technological development but the improvement of all departments in an organization. He said, “Whatever makes a consumer lazy, works!” and the advancement in technology is making the consumer lazy, thus giving impetus to the growth of the business.
The event was a success and brought marketing professionals from Industry & academics together to discuss and review the developments of marketing to come in the near future.