STUDENT CELLS- AN IMPORTANT PART OF THE CURRICULUM?
Vivekanand Business School
It is often said,
You Learn when You do it!
We see a paradigm shift from our schools where we learn and then do it to our lives where we do and learn. This shift brings significant changes to our perspectives of life, career and other aspects of life. But our wondered how does this shift from one phase to other begins?
It is believed that it begins in our later stages of academic journey that is either Graduate College or Post Graduate College and majority of the times it’s the latter one. This phase of any individual is one of the most important stage to compete in their professional life as it teaches how corporates work, how and where do we fit in the environment, what and how mistakes are made and corrected etc. Having a guide at this stage is a blessing to any individual where this role is played by our colleges.
Talking about a guide, mentor who helps student to become more successful in their life, the top choice always goes to Vivekanand Business School situated in Chembur, Mumbai.
You wonder why? There are several reasons for stating the same such as:
As it is said, make mistakes while you prepare instead of making it during the test.
It is easier to pick many such reasons to choose VES Business School for PGDM over others not only because of the above-mentioned reasons but a lot more such as Student friendly Faculty, Growth oriented Focus etc.
Journey to success is difficult, but having a guide like VES Business School surely makes the journey easy, enjoyable and Fun.
Vivekanand Business School
In this era of digitization, Business Analytics is proving to be more and more useful in the implementation and execution of various strategic functions. BA makes it easier to analyze and process large amount of data and displays relevant and the most accurate information. It can be used to reduce ambiguity in decision making, with the help of existing data and can be used to formulate varied solutions.
Analytics always gives businesses an upper hand in processing the latest data with reference to past records and avoids any repetition of mistakes from earlier, which gradually optimizes their efficiency, producing better results to serve their customers. It assists to serve the users with a personalized experience, giving a competitive edge to the business in its offerings as opposed to their contemporaries. It also helps organizations to have an automated response for initial decision-making process.
Analytics is not limited to just one field, and can be functionally used in different domains such as Marketing, Finance, HR, etc. Organizations, through HR Analytics can measure productivity of employees over a period of time and identify factors what drives them to keep improving their efficiency. With easy access of employee records and workforce data, the management of organizations can improve employee engagement, Retention rate, identify training needs and enhance quality recruitment. By using Analytics in finance, companies can have a 360-degree view of its position in the market and an in-depth analysis of its growth. Identify its current financial status, measure assets and forecast the value of the business and its future profitability. Analytics in marketing also has its own perks and benefits. It can be used to study consumer buying behavior, analyze their choices and provide them suggestions that are exclusively personalized on the basis of their consumption patterns.
The field of Analytics has a vast and varied spread of Arena and does not restrict to just estimating the basics. The competition in the current market is so fierce that analytics is the ingredient in standing out. The constant changing of trends in the present, and to predict the future inclinations on the basis of these trends, we need to formulate the past particulars.
Although in its developing stage, Business Analytics is one of the fields gaining constant importance in the market. As a result of this, many aspiring students pursuing post-graduation, are opting for Business Analytics as their specialization. In the arena of Management, this field is one of the highest paying career profiles. Due to its increasing popularity and demand, many colleges are keen on incorporating BA in their courses along with other courses like Marketing, HR, Finance & Operation. Looking at its current functionality in the industry, along with considering the practicality of Business Analytics in the future, this field definitely offers a scope of good career growth.
Some of the best PGDM/MBA colleges in Mumbai that offer Business Analytics course are given below:
Being a part of Vivekanand Business School, I can say that the institute provides various opportunities for the students to get acquainted with the corporate world through internships and live projects. BA subjects are introduced in the curriculum of students opting for other specializations as well, so they have a basic idea about the concepts of this field and have an edge over others in the industry. Informative webinars on Analytics in various verticals are organized, where industry experts are invited to have interactive sessions with the students and discuss the current and future trends of the business world.
Vivekanand Business School
As marketers, the first instinct is to create a campaign that mitigates the risk in planning and executing the campaign idea. But, sometimes, taking the plunge is all it takes to land in the right place and capture everyone's attention. They may seem too risky or bold at present, but these campaigns manage to lure the audience and build brand loyalty in the long run. Sometimes, going against the wind, and abandoning the age-old practices, works in the favour of the company.
Mark Zuckerberg once said, "The biggest risk is not taking any risk. In a world that is changing quickly, the only strategy that is guaranteed to fail is not taking risks." Reckoned decisions and results will only lead to a mediocre output, therefore, it is necessary to take the leap and try something unusual. It can be perverse sometimes, especially when there are countless competitors in the market.
There is a plethora of campaigns that embraced unconventional ways of marketing, leaving a mark in everybody's mind.
One such strategy was Dove's 'real beauty' campaign. This campaign might not seem risky at present but, it sure was a conspicuous move to launch it back in 2006 when people were not vocal about body shaming and discrimination. The campaign portrayed women of all sizes and colour, with unconcealed stretch marks, wrinkles, etc. changing the definition of beauty and igniting a conversation among people, leading to newfound respect and love for the brand in the minds of the customers converting it into its brand loyalty in the long run.
Knowing that the campaign would be perceived as a superficial marketing tactic, the brand also created a fund with organizations like Girl Scouts and many others. Huge risk and a bold move resulting in a change of perception among the people benefitting the brand in the process.
Controversies are a source of unparalleled attention from the customers and take up more mind space in their minds.
Nike took a huge plunge when it decided to launch the “Believe in Something.” campaign. The campaign featured Colin Kaepernick, an athlete who decided to stand against racial injustice by refusing to stand for the National Anthem. He stirred a lot of controversy and discussion around the issue. Evidently, Nike had taken a chance, being fully aware that it can be viewed as brave or brash. But the campaign proved to be highly successful and one of the most unforgettable campaigns.
The sales of Nike hit the roofs by a 31% increase and the share price skyrocketed. The Ad resonated with the Millennials and GenZ generation, being a more progressive audience. Another example of a risky marketing campaign is shockvertising. Shock advertising or shockvertising can create an immense amount of impact on the purchases of customers and brand image. The impact can be positive or negative.
A campaign called 'A Story Book Wedding - Except one thing' launched by UNICEF as a multi-country initiative by the UN is an example of shock advertising to raise awareness of child marriage.
The ad elicited the emotion of hysteria in almost 35% audience and 32% were curious to find out more about the ad. The ad had a long build-up that kept the viewers hooked to the screens to find out more about what is happening. 42% of viewers were willing to strike a conversation regarding what was addressed in the ad proving to be a perfect example of how shockvertising can help is spreading awareness if executed in the right manner.
Burger King came up with a daring concept of 'The Mouldy Whopper', the ad uses time-lapse photography to show the deterioration of the burger due to artificial preservatives.
The ad was designed to promote the removal of the preservatives from its food items. The campaign breaks the rules of food promotion. In India, one of the most prominent brands that are known for unconventional ways of marketing and shock value is Fastrack.
The brand has chosen to be different and not follow norms from the start. Every campaign of theirs involved a high-risk factor such as 'Move On’, ‘Sorry for what’, and ‘Come out of the Closet’.
These examples manifest how unconventional methods of marketing and taking necessary risks can create a great impression on the minds of the customers, building brand image and loyalty. Not all marketers choose to take this risk and do not explore the world of undiscovered and uncommon ideas and strategies. The truth is, Risky Marketing campaigns help the company distinguish itself from other competitors and increases brand visibility. A marketer's goal is to make people remember the campaign and the product associated with it even after a long time.
Thinking big and better will help the brand have far-reaching effects, embracing the path of risky marketing, as "boldness has genius, power, and magic in it."
Vivekanand Business School
HISTORY has witnessed, moments of crisis and uncertainty that have invigorated new innovations. It has created a shift in the views on what matters most to people. The 1918 influenza pandemic led to the popularization of the usage of the telephone. And recently, issues regarding climate change and gender equality have people demanding more from businesses.
Now, with the ubiquitous pandemic that has struck us, social distancing has become the norm. From people to businesses, to the government, everyone is trying to find and figuring out new ways to sail in the new world.
Change and Challenge have formed an immediate word association with the pandemic. Change is here to stay and the unprecedented challenges that the pandemic has brought with it have ignited a spark in the minds of marketers to discover new grounds and explore the impossible.
As the pandemic-induced restrictions are getting eased and businesses are getting back to normal, it should realize the shift in priorities that has taken place. Marketers will need to rethink, reimagine and recreate strategies according to what the customers expect in the looming normal.
This pandemic witnessed people engaging more with the brands. People are more connected and are looking out for each other. They are seeking value and the businesses and brands have to take a step towards authenticity and creation of value rather than tying everything to revenue. Customers are looking for brands that give them more than a product or service, their expectations from the brand have become more human and personal. Marketers should take note of these aspects to keep the customers involved.
Nike saw a 150% jump in demand on its app in 2020. It revamped its marketing strategy and came up with a slogan that said, “Play inside, play for the world," with relevant hashtags and introduced a campaign that waived fees on the Nike Training Club app embracing the more human aspect of the brand.
Even though Nike’s offline stores were open, people preferred to buy through online platforms observing a growth of 82% in online sales proving the strategy to have worked out well.
This crisis has affected the business but it has also increased internet usage, opening a reservoir of opportunities for the brands to experiment. The change from physical to digital is likely to stick for a longer period since people have become comfortable with the new normal. Therefore, for marketers, this calls for reshaping the strategy of connecting with the customers.
Emphasis on digital channels will be important in revenue recovery for brands. Brands might have to direct their investments towards strategies and tactics that drive online sales, the shift of budget to delivery-based options, keeping up with the trends that will increase engagement and connect with the customers.
Analytics will play a significant role in the upcoming change of scenario. It will help in managing the data and help marketers in curating personalized offers to niche segments. It will give birth to personalized and memorable brand experiences. Marketing Analytics will step in to monitor customer trends, preferences, and behaviours. The previously used analytics will have to be trained to adopt the new behavioural changes in customers. This will help the brands create more convenient and user-driven shopping experiences.
Since customers are now accustomed to the online shopping experience, it becomes important for companies to derive and boost organic traffic. How can marketers focus on that? The answer lies in the content. Marketers need to build people’s trust in different ways since they are unable to visit brick-and-mortar stores. Creating relevant content and constant updating will be beneficial in addressing the concerns of the customers. It will align the brand’s interest with that of the customers.
One thing is certain, businesses have no choice but to update their playbook or create a new playbook altogether because the pandemic has already impacted the world in prodigious ways and this effect will only continue to grow. The brands have to be prepared for this world with new norms and adapt to those differences.
This new world is certainly going to be more value and purpose-driven as the societal dynamics have changed and, customers will support brands that make the right choices and decisions.
PGDM Div - A
Vivekanand Business School