| Most people fail to come out with good custom | | | | This distribution vehicle is significantly contributing to |
| essays not because they lack talent or brainpower but | | | | rural sales. Gujarat Ambuja transported cement |
| because they lack a reliable guideline. By following a | | | | through ships to the Kerala market and tried to |
| few simple guidelines, you can score high marks in | | | | improve the reach of the brand. ATMs have |
| writing a custom essay/dissertation writing. Here is | | | | revolutionized banking. Recent entrants like ICICI bank |
| given a sample custom essay writings on Innovations | | | | are investing in ATMs rather than brick-and-mortar |
| in Marketing. | | | | branches. The Bombay tiffin carrier service is probably |
| Marketing of a product or a service centers round | | | | the best illustration of providing high "place utility". The |
| what are called 4Ps (Product, Price, Place and | | | | service delivers tiffin carriers from homes to offices. |
| Promotion). Innovation is possible in each of these four | | | | (Their service standards are supposed to be better |
| Ps. A new packaging can change the look and feel of | | | | than six-sigma, which means the probability of a tiffin |
| a product. An innovative pricing strategy might help | | | | carrier being delivered to the wrong address is less |
| bring in a new set of customers. A new venue of | | | | than 3 in a million). |
| distribution like a chemist shop for consumer or a novel | | | | Promotion-related Innovation |
| use of promotional tools can make a difference in the | | | | The promotional tools at the disposal of a marketing |
| market. This article is about how innovation in 4Ps | | | | manager are typically advertising, sales promotion, |
| helped some companies make a mark in the Indian | | | | personal selling, direct marketing, public relations and |
| market. | | | | Internet marketing. Onida ("devil"), Ujala ("just four |
| Product-related Innovation | | | | drops"), Titan ("Mozart's symphony"), Amul ("utterly |
| Sachet shampoo is a classic example of product | | | | butterly delicious") have found a place for themselves |
| innovation in the nineties. Sachet shampoo delivered a | | | | through innovative communication. Tata coffee and |
| large pool of untapped consumers to the hair wash | | | | tea have made a name through innovative event |
| market through low unit price and convenience. A | | | | marketing (e.g., "walking" posters, huge coffee mug in |
| similar innovation helped the up gradation of an LCV | | | | front of the Bangalore Palace etc.). Cello thermal ware |
| (Light Commercial Vehicle). Tata Sierra is really Tata | | | | effectively used sales promotion to trigger high brand |
| Mobile with a hard cover and a few modifications. This | | | | awareness ("When they ring up, if you say "Cello" |
| switch from b2b consumers (LCVs) to b2c | | | | instead of "Hello", you get a gift"). Arun announced a |
| consumers (cars) helped Tatas launch more upgraded | | | | scheme wherein ice cream is delivered free to your |
| versions like Indica later. Tanishq's Karatmeter is an | | | | residence if you dial a number. Videocon used several |
| innovation that measures the purity of the gold. This | | | | innovative promotion schemes like "Money back |
| information empowers consumers. Now they need not | | | | Policy", "Gold Coin scheme" etc., to increase market |
| go by the claims of the jeweler. In a market dominated | | | | share. Madura Garments did an extensive direct |
| by central and window air conditioners, Carrier Aircon | | | | marketing campaign with tailors for their sewing thread. |
| successfully carved a niche for itself through split | | | | Reader's Digest successfully practiced direct |
| air-conditioners. "Colorbank" which enables a consumer | | | | marketing much before the word became fashionable |
| to chose the exact shade of color he or she wants is | | | | in marketing lexicon. Maruti used Public Relations |
| a big leap in the paints market. Spartek successfully | | | | effectively by recalling a large number of defective |
| sold the concept of floor tiles to the Indian consumer | | | | cars from the market. Different organizations |
| (Before that ceramic tiles were confined to | | | | therefore, use different tools of promotion depending |
| bathrooms.) 100 c c vehicles dethroned scooters as | | | | on their objectives. |
| the largest selling category of two wheelers thanks to | | | | Not all innovations work, however. Note that the |
| their fuel efficiency and style. In a similar manner quartz | | | | sachet that worked in shampoos failed in toothpastes |
| watches are edging out mechanical watches. Thus | | | | and talcs. In toothpastes, the provision of the dispenser |
| there are several interesting illustrations of product | | | | to the sachet might help. In talc, however, sachets are |
| innovation in the Indian market of 1990s. | | | | unlikely to take off because freshness is lost once the |
| Price-related Innovation | | | | sachet is opened. Detachable bristles for brushes did |
| Nirma is usually seen as a pricing innovation but it is | | | | not work. Neither did coffee bags. Ruf-and-Tuf's |
| more than that. It was a success of pricing, | | | | product innovation of jeans stitch kits though |
| communication and overall marketing strategy. Dr | | | | welcomed initially could not be sustained because |
| Reddy's Labs skillfully used gaps in Indian patent laws | | | | tailors used the Ruf-and-Tuf label on spurious material. |
| to bring down the price of pharmaceutical products. | | | | Though all innovations might not work in the market, it |
| Videocon for long used the protection of backward | | | | is important to keep trying. |
| area manufacture to aggressively price its products. | | | | There is another important observation to make. Most |
| Bajaj's "Boxer" promises a high mileage at an all too | | | | product innovations in the Indian market are |
| affordable price of Rs. 29,000. The success of Tata | | | | incremental. They are not discontinuous innovations |
| LCVs is largely attributed to their ability to price | | | | that mark a paradigm shift (e.g., email). Contrast this |
| competitively. Though there are more successes in | | | | with what happens in the more competitive markets |
| India on low price promise, there are some from the | | | | abroad. Gillette spends millions of dollars to upgrade its |
| premium segment as well. By providing a lifestyle | | | | blades. Its Sensor-Excel was voted the product of the |
| product Titan not only got a premium but also | | | | decade in 6 European countries. Sony repeatedly |
| convinced consumers to buy multiple watches. | | | | introduced path breaking products like Walkman, solid |
| Whisper and Pantene, despite their high unit price, have | | | | state tape recorder, Trinitron picture tube etc., and |
| not lagged behind in market share. | | | | revolutionized entertainment. Multinationals spend a lot |
| Place-related Innovation | | | | more money and effort on research than Indian |
| The word "place" is used here roughly to connote | | | | companies. That is the key to bringing out great |
| distribution. Paint companies have achieved real-time | | | | products. Thus, if Indian companies want to make a |
| connectivity with their dealers through | | | | mark, not just in India, but globally as well they need to |
| wide-area-networks. This helps them stock optimum | | | | pursue discontinuous innovations. These can be |
| quantities with the dealer. Several multinationals and | | | | brought about only through targeted and coordinated |
| Indian companies are making use of VSAT | | | | efforts in R&D. That, as Churchill said, might mean |
| connections to reduce information gaps. Many | | | | an epic struggle of "blood, sweat, toil and tears". |
| companies use video vans loaded with stock to sell in | | | | The author is a renowned custom essays writer . He |
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| are used as promotion as well as distribution vehicles. | | | | dissertation witting. |