According to the findings promoted by academic Jeffrey Cole during a seminar at the Cannes Lions advertising festival looking at trends emerging in digital media industries, it was noted that 'teenagers may never wear watches and that this is terrifying a whole industry.'
Jeffrey Cole is the director at the Center for the Digital Future at the University of Southern California. The professor, in a presentation sponsored by Microsoft, said the findings came from a global study in over 20 countries. "We know teens today are not buying watches because they are using their mobile phones to know what time it is," he said. "The entire jewellery industry is waiting to the answer to the question, will teenagers start buying watches when they get older as fashion accessories. No one knows yet. I tend to think they will but I don't have any good evidence for that." Cole said companies like Rolex were not affected because very few teenagers buy Rolexes, but compani…
CNN IBN reports : In a benchmark verdict, Karnataka High court gave order in favour of state government on the issue of replacing English by the Kannada language as the medium of instruction in schools.
It now means that the schools in Karnataka will have to teach in Kannada. The High Court says it did not find any merit in the private schools argument. It has asked private schools to file an affidavit within 7 days saying they will teach in Kannada and discontinue using English as the medium of instruction. However, if Kannada medium education is made mandatory, the schools will be forced to shut doors as most of the parents have got their wards admitted in these schools for English medium education. This will create new problems for the government as accommodating these students in English medium schools will become difficult as only 8 schools in the city have got permission from the government for offering English medium education prior to 1994, he remarked. Parents of 5,000 children …
The No. 1 company is Amazon.com has jumped from No 23 in 2006 to No.1 this year. Bharti Airtel has been ranked 14, ahead of the likes of Nokia, Google, IBM and Oracle. TCS is placed at number 23, Infosys at 30 while Satyam Computers is 73rd in the ranking.
1 - Amazon.com 2 - America Movil 3 - Telefonica 4 - Hon Hai Precision Ind. 5 - Telenor 6 - Apple Computer 7 - AT&T 8 - Nintendo 9 - Microsoft 10 - China Mobile 11 - Research In Motion 12 - VimpelCom 13 - BT Group 14 - Bharti Airtel 15 - Mobile Telesystems
AtulSethiwriting in the TNN, lists the top Indian myths that have been passed down the ages. Myth OneIslam was brought to India by Muslim invaders - Most historians now agree that India’s introduction to Islam was through Arab traders and not Muslim invaders, as is generally believed. The Arabs had been coming to the Malabar coast in southern India as traders for a long time, well before Islam had been introduced in Arabia. Myth TwoAsoka killed his 100 brothers to claim the throne - In his book, The Oxford History of India, Vincent Smith writes that the story told by the Buddhist monks of Ceylon that Asoka slaughtered 98 or 99 of his brothers in order to clear his way to the throne is absurd and obviously concocted to highlight Asoka’s alleged abnormal wickedness prior to his conversion to Buddhism. In fact, Asoka, says Smith, took good care of his brothers long after his succession, evidence of which is found in his rock edicts. Myth ThreeBuddhist monks were vegetarians - Most people …
From BS : A number of Indian B-schools have decided to establish offshore campuses, and the Middle East nations and Singapore are clearly emerging as the favourite destinations.
MDIGurgaon, for instance, is planning to set up a campus in Doha for which it is in advanced talks with the government authorities in Qatar and the Indian embassy. Joining MDI are the Institute of Clinical Research India (ICRI) and Indian Institute of Management Bangalore (IIM-B) which have chosen Singapore as the location for their first international campus. IMTGhaziabad too established its first foreign campus in Dubai in September 2006 and received a license from the Ministry of Higher Education and Scientific Research to offer higher educational degrees.
One of the early birds, Xaviers Labour Relations Institute (XLRI) Jamshedpur had established its first campus in Dubai in 2001 where it began offering an executive education programme in collaboration with the Al Abbas Institute of Technology. The institute…
Click here; Amazing Grace Amazing grace! (how sweet the sound)That sav’d a wretch like me!I once was lost, but now am found,Was blind, but now I see. ’Twas grace that taught my heart to fear,And grace my fears reliev’d;How precious did that grace appear,The hour I first believ’d! Thro’ many dangers, toils and snares,I have already come;’Tis grace has brought me safe thus far,And grace will lead me home. The Lord has promis’d good to me,His word my hope secures;He will my shield and portion be,As long as life endures. Yes, when this flesh and heart shall fail,And mortal life shall cease;I shall possess, within the veil,A life of joy and peace. The earth shall soon dissolve like snow,The sun forbear to shine;But God, who call’d me here below,Will be forever mine.
Chandigarh has been ranked number one in the recent Indian study of emerging growth centres conducted by Knight Frank. As many as fifteen cities were surveyed by Knight Frank, a world renowned, UK based global property consultancy, for determining the emerging growth centres in India. The city of Nagpur has been ranked second and Goa and Kochi are ranked third. The survey report showed Chandigarh is ranked highest in terms of real estate, physical infrastructure and business environment parameters and has emerged as the most attractive centre among the 15 emerging growth centres covered in the study. It is followed by Nagpur ranked well due to its people and physical infrastructure.
Did you know that a study by the not-for-profit Pew Internet & American Life Project found that 74% of single Internet users in the US have taken part in at least one online dating-related activity, including sites specifically devoted to finding a match, while tens of millions of people know someone who has been in a long term relationship with someone they met online?
It is the nature of online interactions themselves that have intrigued psychologists andsociologists. There is growing evidence that communicating online is more conducive to openness than a face to face rendezvous. Online, people tend to be more honest, more intimate. This is known as the 'hyper-personal effect', a term coined by Joe Walther of Michigan State University, USA, in 1996. Walther says that communicating by typing gives people time to construct their responses. It also frees them from worrying about how they look and sound, so they can focus exclusively on what they're saying. Without typica…
The dominant model of addictive consumption in economics is the theory of rational addiction. The addict in this model chooses how much they are going to consume based upon their level of addiction (past consumption), the current benefits and all future costs.
Several empirical studies of cigarette sales and price data have found a correlation between future prices and consumption and current consumption. These studies have argued that the correlation validates the rational addiction model and invalidates any model in which future consumption is not considered.
An alternative to the rational addiction model is one in which addiction spreads through a population as if it were an infectious disease, as supported by the large body of empirical research of addictive behaviors. In this model an individual's probability of becoming addicted to a substance is linked to the behavior of their parents, friends and society. In the infectious disease model current consumption is based only on …
'People have asymmetric reactions to losses and gains while gambling. Compare winning $10 in one gamble with winning $5 twice. Most people would prefer to win twice. What bout ,losing $10 in one game as compared with losing $5 in each of two gamble? Her. most people prefer one loss. That is why any company dealing with customers must break pleasant experiences into multiple stages and combine unpleasant ones into a single stage.
Now consider the 'sequence effects' on gambling. People prefer a sequence of experiences that improve over time. When gambling, people prefer to lose $10 first, then win $5, rather than win $5, then lose $10. There is also evidence that people pay attention to the rate of improvement in a sequence - clearly preferring ones that improve faster.'
( Ref : Want to perfect you company's Service? Use Behavioural Science; R.B. Chase & S. Dasu )
Today's NY Times : On a Friday evening last month, the day after New York University’s class of 2007 graduated, about 15 men and women assembled in front of Third Avenue North, an N.Y.U. dormitory on Third Avenue and 12th Street. They had come to take advantage of the university’s end-of-the-year move-out, when students’ discarded items are loaded into big green trash bins by the curb. The gathering at the Third Avenue North trash bin quickly took on a giddy shopping-spree air, as members of the group came up with one first-class find after another. A few of those present had stumbled onto the scene by chance (including a janitor from a nearby homeless center, who made off with a working iPod and a tube of body cream), but most were there by design, in response to a posting on the Web site freegan.info. Freegans are scavengers of the developed world, living off consumer waste in an effort to minimize their support of corporations and their impact on the planet, and to distance the…
From the TOI : Even as competition has built up to unprecedented levels in the car market, one segment has remained untouched - that of entry-level small cars. But that's all set to change from next year, with a slew of cars priced around Rs 1 lakh ($2,500) revving to get off the blocks.
The first launch will be that of Tata Motors' much-talked-about Rs 1 lakh car. But in just a couple of years, Indian consumers may have half-a-dozen such vehicles to choose from. Nissan Renault on Thursday joined the bandwagon, unveiling plans for a $3,000 (around Rs 1.25 lakh) car for Indian roads. Nissan Renault is expected to team up with Indian manufacturer Mahindra & Mahindra to enter the sub-Rs 1.5 lakh segment in which the likes of Hero Group, Bajaj Auto and Maruti Suzuki, the original common man's car manufacturer, have already evinced interest. Even Xenetis, a low-cost PC maker, intends to be in this segment.
So if you were Coca-Cola, it doesn't seem like you would have to be a marketing genius to put two fundamental trends together: we're drinking more and more bottled water, and we're looking for quick shots of healthy living that create the illusion of righteousness (off-setting all the other horrible stuff we do to ourselves).
That low-wattage confluence would have led you to create Vitamin Water. But the light bulb didn't glow in Atlanta. Instead, a guy named J. Darius Bikoff had the idea, and his insight was rewarded when Coca-Cola paid $4.1 billion for his company, Glaceau.
What accounts for this big-company failure to innovate? It's a variety of factors. Innovation outside the core acknowledges that your model is flawed. That's tough to handle. There's an over-reliance on research; but focus-group testing at best produces incremental innovation. And there's always the default of "we can buy it."
CoCa Cola has long term plans for India. Any company before entering global markets takes into consideration 3 major entry decisions - Which overseas markets to enterTiming of entryScale of Entry and Strategic CommitmentsThe decision on which markets to enter is based on assessment of a location's long-run profit potential, which in turn is a function of the size of the market, purchasing power of consumers, the likely future purchasing power of consumers; and, the need to balance benefits, costs, and risks associated with doing business in a country, which again, is a function of economic development and political stability in market places around the globe.On both these factors, India is poses a huge potential for Coca Cola and its beverage products. But there are roadblocks too, while operating in India. Indians drink less soda per capita than people in just about any other emerging market. In spite of this Coca Cola is willing to look at the long term and so is pushing in great…
Sample this : Schizophrenia is defined in my dictionary as “a medical condition marked by disconnection between thoughts, feelings, and actions.” There certainly seems to be a disconnection between India’s conversion to market capitalism and its hallowed commitment to socialism. Businessmen complain that this schizophrenia results in half-baked reforms and puts the brakes on the expansion of the economy to superpower status. Yet the same businessmen who advocate the stark materialism of market-capitalism sit at the feet of SriSri Ravi Shankar. It’s a well-known fact that many young software engineers are also soft on God.
The apparent schizophrenia of government policies and corporate sector practices seem to have spread throughout the burgeoning middle class. How can one reconcile the rise and rise of shopping malls, the new found zeal for retail therapy, with the large audiences for the God channels on television purveying traditional Indian therap…
'If a parent repeats something often enough, a child can come to believe it and - like a curse - even live it. Recent psychological research shows that the stories we tell about the world, and ourselves, determine our actions. Of course many people develop an insight and break out of the influence of such spells, though it does take a great deal of maturity, or even a few hard knocks.'
What are the factors key to the development of mass markets? As MP3 players take the mass market stage in their life cycle, it is important for manufacturers to note factors that contribute to the rise of mass markets.
Mass markets typically start to develop when - Technological progress makes a product easier to use and increases its value to the average customer Key complementary products are developed that do the same Companies find ways to reduce production costs allowing them to lower pricesThe factors that affect Market growth rates of a product/service are -Relative advantage Compatibility Complexity TrialabilityObservabilityAvailability of complementary productsRef : Strategic Management; Hill & Jones; 6e
From today's ET : With the MP3 player market set to grow from 3.65 lakh to 5.5 lakh units in calendar 2007, Sony, Philips and Samsung are firming up plans to introduce the latest models from their international basket of products. As the consumer in India becomes more demanding and discerning, Sony Corp. has promised to continuously reinvent and upgrade the range of MP3 products to suit the needs of the consumer.
The IDC recently reported that the worldwide market for MP3 players will hit $58 billion by 2008. Currently, the ORG-GFKreport mentions the overall market size in India for portable music players (CD, cassette and MP3 players) to be over a million units. In India, while sales may not be this large, the growth will be huge. Growth in the MP3 player category can be attributed to the technology boom taking place in the country.
Another factor leading the market growth is portability. Portability is key to consumers' lifestyles today, extending to storage devices as well. T…
Top 10 cities - Aggregate scores LondonNew YorkTokyoChicagoHong KongSingaporeFrankfurtParisSeoulLosAngelesParameters considered - Legal & Political framework; Economic Stability; Ease of doing business; Financial flow; Knowledge/Info. flow; Business Center
The last time there was a buzz regarding Shah Rukh Khan pitching for a product, it was his bathtub dalliance for HLL'sLux Soap. The commercial for Lux reportedly gathered so much publicity, and generated so much 'shock and awe', that after the commercial, it not only arrested declining brand fortunes, but also led to a spurt in sales.
Fairness creams have a huge market in India, both urban and rural. As of mid 2006, FMCG major Hindustan Lever Ltd (HLL) relaunched its flagship brands Fair & Lovely anti-marks and ayurvedic creams in domestic markets, Emami Ltd and CavinKare are geared up to export their fairness brands to African and Asian countries. Godrej Consumer Products Ltd (GCPL) is extending the global reach of its brand FairGlow to the UK and the Middle East. In the Rs 950-crore market for fairness products, the colour of compe…
Both family and friends influence people in their roles as consumers.
'Friendship Groups' are part of specific consumer reference groups, generally termed, informal groups because they are usually unstructured and lack specific authority levels. Previously thought of as the weaker of influencers, today, in India, they seem to exert influences stronger than the ones exerted by the family ( Ref : NamrataJoshi's article in the Outlook ).
There is an aspect of childhood socialisation that is relevant to the study of consumer behaviour , termed, consumer socialisation, which is defined as the process by which children acquire the skills, knowledge, attitudes and experiences necessary to function as consumers.
Influence of Family on a Young person - ( Basic Values ) Moral /Religious principlesInterpersonal skillsDress / Grooming standardsManners and speechEducational motivationOccupational / Career goalsConsumer behaviour normsInfluence of Friends on Young person - ( Expressive Atti…
Namrata Joshi in a story in Outlook magazine writes about why youngsters (older people too) in India prefer friends to family. She sums it up as -
Friends vs Family With families scattered in different cities and countries, sibling and parental ties weaken and reliance on friends grows Families can be judgemental, inhibiting. Friends respect your independence, individualism more.Family relationships can be hierarchical, weighed down by baggage of old feuds and quarrels. Friendships offer more liberating, guilt-free relationships. 21st-century lifestyles of young urbanites have widened the communication gap with parents. Friends can be more, understanding, supportive.Long hours at work, commuting, leave less time for family. It's easier to socialise with friends at workplace.
If the first day is anything to go by, Sivaji is the next super-duper blockbuster. The Cash registers are ringing!
CNN-IBN reports that, in Chennai, tickets for all shows for the first 10 days were sold out in just two hours in over in all the 15 screens where the film has been released. Now, there are no tickets available until June-end. Those ready to pay a premium on the ticket are buying them for as high as Rs 1,900 or more per ticket.
In Bangalore, the Telugu version of the movie was released in 13 screens, including three multiplexes. And guess what: it's the techies who went for the bulk of ticket bookings for the first few shows of the movie. And nobody seems to be minding the premium they were paying for the tickets. An IT firm booked one entire theatre for Friday's second show at Innovative Multiplex, Bangalore, paying as high as Rs 903 per ticket. The total amount paid for 75 gold class tickets is shown to be Rs 67,751. The firm also booked 240 silver class tickets. I…
Driving in Bangalore is quite the challenge. The most important aspect while driving in Bangalore city is never about being careful of the way one drives, but is about being careful of the way others drive. To avert any accidents all one has to do, in India, is to 'pre-empt' what other drivers would do, and act accordingly. Once this art of pre-emption is perfected, any driver can navigate the roads in Bangalore or any where else in India without as much a hitch. In pre-empting, a driver has to keep his/her mind open to the fact that he/she will encounter vehicles coming out of nowhere, cutting across lanes, turning without any indication...and other similar acts.
Accidents on Indian roads have now reached gargantuan proportions. Take Kerala for instance. (2001 report) While population in Kerala is declining with couples settling for one-or-two child norm, the vehicle population is soaring without correspondent infrastructure. So, of course, do the number of deaths and injuries…
720 million Indians to join consuming age by 2010 55% of the Indian population will be under 20 years of age by 2015 32% rise in urbanisation by 2008 10% annual growth in Retail market since 2000 85 of the Indian population is employed by the retail sector; second only to agriculture 7% of the population is engaged in retailing A booming US$ 300 billion retail market in India 5.5 retail outlets per 1000 population, highest in the world 25-30% annual growth in retail loans and credit cards Organised Retail is predicted to capture 15 - 20% market share by 2010. Though it is one of the least developed sectors, the Retail industry accounts for 10% of the GDP. India is the hottest Retail destination. It was ranked as the most attractive retail destination among 30 emerging markets by the Annual Global Retail Development Index (GRDI) for two years consecutively ( AT Kearney ) India is young. 47% of its population is under 20 years of age and contributes immensely to the growth of the Indian Retail sec…
Who is the bigger brand ? AmitabhBachchan or Rajinikanth? I watched an interesting discussion on CNN-IBN titled, 'Bachchan versus Rajini', where panelists expressed their views on who the bigger star is. The race, if there is one, seems to be too close to call. ChoRamaswamy made an interesting remark about how both these stars are actually running two different races and therefore, how can one predict who the winner is, when they are not at all in the same race.
Sample the comparisons, at 58, Rajinikanth is the unchallenged badshah of Tamil cinema, and at 64, AmitabhBachchan is still considered the shahenshah of Hindi films. Both Rajinikanth and Amitabh began their careers in the 70s with bit roles and by late 70s and early 80s they were the reigning demi-gods of the Tamil and Hindi film industry respectively. Over the years they have co-starred in hits like AndhaKanoon, Geraftaar and Hum and individually they have a fanatic fan following.
From today's, TOI: The rupee surged further in limited activity and ended moderately higher at 40.7450/7550 against the US currency on Tuesday, mainly buoyed by fresh FII inflows into equity market amid dollar buying by banks.
State-owned banks were believed to be making purchases in the greenback on behalf of the Reserve Bank of India (RBI), which attempted to offset the impact of capital inflows through the IPO route. As per data available, the institutional portion of the real estate major DLF Ltd's mega public issue, which opened on Monday, was fully subscribed on the opening day of the IPO.
The International Labour Organization (ILO) has estimated that 218 million children between the ages of five and seventeen work in developing countries. Of these, 122.3 million children work in the Asia-Pacific region, 49.3 million work in Sub-Saharan Africa, and 5.7 million work in Latin America and the Caribbean. Most working children in rural areas are found in agriculture; many children work as domestics; urban children work in trade and services, with fewer in manufacturing and construction.
Agriculture Of nearly 218 million children engaged in child labor around the world, the vast majority—69 percent, or some 150 million—are working in agriculture. Child agricultural workers frequently work for long hours in scorching heat, haul heavy loads of produce, are exposed to toxic pesticides, and suffer high rates of injury from sharp knives and other dangerous tools. Their work is grueling and harsh, violating their rights to health, education, and protection from work that …
NiveidtaMukherjee writing in The Week in a Cover Story titled, 'Plastic Pitfalls' talks about how Credit Card companies have been resorting to 'thug like' tactics to recover money from Credit Card users. She writes, ' The credit card debt trap has customers crying foul about unfair trade practices If you are an aspirational Indian for whom a wallet full of credit cards is an indispensable accessory, there could be trouble ahead. If banks are all too ready to shower you with silver, gold or platinum strips of plastic that fit snugly in your wallet, the momentary feeling of elation at the swipe should be that… fleeting… short-lived. For, the crux is in the details, in the fine print that banks sanctimoniously say is written in the acceptance form that comes to your doorstep, signed and delivered. Miss scanning the document carefully and you could get drawn into a debt trap. A vicious cycle of harassment for recovery ensues; shame follows indignation, and sometimes ev…
There are two types of involvement that consumers have with products and services, Situational and Enduring. Situational involvement as the term suggests, occurs only in specificsituations whereas Enduring involvement is continuous and is more permanent in nature.
Decisions to buy umbrellas in India are driven by the onset of Indian monsoon. Monsoon rains arrived in India over the South Andaman Sea on May 10 and over the Kerala coast on May 28, three days ahead of schedule. But then, after a few days of rain, South India is witnessing a spate of dry weather. Temperatures are soaring in the north of India. The Umbrella companies in the state of Kerala are wishing for the skies to open up. So is the farming community and manufacturers of rural consumer products whose product sales depend totally on the farming community. The Met. department has deemed this dry spell as 'not unusual'.
India's monsoon rains have been static over the southern coast since last Tuesday because of a…
Rajnikanth is the highest paid actor in India today. In fact it is said that he is the 2nd highest paid movie star in Asia after Jackie Chan. Rajnikanth is paid more than the Khans or even the Big B. With each new film Rajnikanth breaks his own record as India's highest paid actor. He is getting Rs 16 crore for his film, 'Sivaji'. That is about Rs 6 crore more than what he got for his last film Chandramukhi.
Now how will 'Sivaji' the movie make money?
Businessofcinema.com reports that the Tamil Nadu rights for the movie has been acquired for Rs. 3.10 crores. Nizam has been acquired for Rs. 6.5 crores, entire AndhraPradesh for Rs. 16 crores and even the Karnataka territory rights where there is a ban on films other than Kannada films has been notched up for an unbelievable price of Rs. 2.50 crores. The film will be released with around 400 prints in the South sector alone.
In addition to that, the movie is all set for release on June 15 in over 2,500 theatres across th…
From a being Bus conductor thirty years ago, SivajiRaoGaekwad has come a long way. On the silver screen he is known as the superstar Rajnikanth, and four days from today, on the 15th, his magnus opus 'Sivaji' hits screens all over India. The first four days of the movie have already been sold out with mile long queues before theatre ticket counters in Chennai and other parts of Tamil Nadu. The first day first show tickets are being sold at Rs. 600.
It's a film that's been kept under wraps since it went on the floors, with this first look being released only two weeks before Sivaji hits screens. And the man behind the movie has a reason for that. According to Sivaji director, Sankar, this is to 'retain the freshness and thrill of seeing everything for the first time'. The much awaited trailer has now been released. With reports of a budget of over Rs 80 crore 'Sivaji-the Boss' may well be India's costliest film ever.
"We hear a lot of talk about this or that human right, such as a right to health care, food or housing. That's a perverse usage of the term "right." A right, such as a right to free speech, imposes no obligation on another, except that of non-interference. The so-called right to health care, food or housing, whether a person can afford it or not, is something entirely different; it does impose an obligation on another. If one person has a right to something he didn't produce, simultaneously and of necessity it means that some other person does not have the right to something he did produce.
That's because, since there's no Santa Claus or Tooth Fairy, in order for government to give one American a dollar, it must, through intimidation, threats and coercion, confiscate that dollar from some other American. I'd like to hear the moral argument for taking what belongs to one person to give to another person.
The Cola giants have understood the importance of branching out into segments that provide healthier beverage alternatives to cola, for consumption. But what is interesting to note is the difference between immediate and future consumption and how it is linked in a way to packaging. Most Immediate consumption happens, in India at smaller retail stores and third party vending companies (as seen in Retail Mall food courts) as against future consumption which is driven primarily by larger supermarkets. Though packaging is termed important, it is critical to ensuring future consumption sales. Packaging may not be as critical, when it comes to immediate consumption where greater visibility within storage devices ( visi-coolers) holds importance.
This is due to the buying habits exhibited by consumers which are different when they got to a retail store as compared to when they go to a supermarket. In India, today, more of future consumption sales is going the 'healthier beverage option…