Marketers Should Look For Disruptions

Devashish Das Gupta

If we look at the American Marketing Association's definition of Marketing, we can see that this subject stands on three pillars. These pillars are Creation of Value, Delivery of Value, and Communication of Value.

Even though many new concepts have been propounded in the last four or five decades these pillars remain intact. Today we speak of Digital Marketing and Social Media influence. But what are we doing? We are trying to work on the three pillars of Marketing. Now the endeavor of our Marketers should be to look through the lenses of these three pillars and strengthen their brand equity.

Today when Marketing Pundits are claiming the death of Brand Loyalty it seems to be very much alive. Yes, sustainability depends on the Customer Value Proposition offered by the brand. Moreover, success lies in how preemptively a firm can define Value for its customers. I have stressed earlier in some of my writings, how firms are obsessed with competitors' marketing strategy. Rather they should focus on Customer's Need Set and Value Propositions. Why do we need to all the time benchmark with competition? Why not create some new benchmarks? Today is the era of winning through disruptions.

In modern times one product was nearly disappearing into oblivion. The product was our humble Saree. It was branded as an old-timer, stereotyped, etc. But one of my students Tanya Biswas with her sister redefined the value proposition. They created a symphony of comfort and style and revived the demand for this age-old product through their brand Suta.

?It is not necessary that disruptions in product only lead to success. Many times adding a Service Value can create a good competitive advantage. Sometimes packaging innovation can create wonders. For instance long back famous liquor brand Diageo created Pocket Scotch to fit into the back pocket. This product was exclusively made for a specific state of people. It was also created for a specific occasion, the wedding procession or Baraat as is popularly known. It became popular with the name Scotch Hipster.

So, innovations in SKUs work. Innovations in Service interventions work. Innovation in any part of the offering works. At the end of the day, our offering should make a meaningful and happy difference to the consumer. ?

Now the multi-million-dollar question is how to become innovative. My suggestion to the marketers will be to remain light without any inhibitions. The moment you are light you are out of the fear of failure or criticism. ?The moment, you are out of fear, fresh ideas start coming to you easily. Very important to suppress the child within you.

Three important tips here will be firstly relax and let go of thoughts that breed negativity. In all my senior marketing programmes I make the participants take a power nap in a serene musical environment. Second every weekend reflect on your actions and feedback from the market. Here it is important to add that look out for fresh ideas from other product or service categories. At one time Maruti through Nexa planned to revolutionize its high-end car sales and upgrade its brand image by embracing principles of Lifestyle marketing. ?Thirdly read, read, read. Today those marketing leaders excel who are scholarly leaders rather than those who are Sales Commandoes.

Finally, be in the company of youngsters with gratitude. My best marketing guides are my students, especially alumni. They are bright, they are energetic and they have a hunger to excel. Chit-chatting with them fills me with a new vigor. Their enthusiasm is contagious. But to be in their company you must maintain your fitness levels. Remember, A fit mind lives in a fit body. Youngsters should also feel that they are getting value by interacting with you. At least be near them in terms of mental and physical fitness.

Some good reads in this direction can be:

1.????? The Purple Cow by Seth Godin,

2.????? The One Thing by Jay Papasan,

3.????? Contagious by Jonah Berger,

4.????? Skin in the Game by Taleb,

5.????? Road Less Travelled by Robert Peck,

6.????? Ikigai by Keira Miki. ?

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