Driving Inclusive Growth Essay

4222 words - 17 pages

 
 
 
 
 
 
 

Driving Inclusive Growth through Experiential
  Marketing: A Retail Perspective

  Mainak Kanjilal, Final Year Student, PGDIM, NITIE
  Utsav Ghosh, Final Year Student, PGDIM, NITIE
  Dr. Ranjan Chaudhuri, Assistant Professor (Marketing Area), NITIE
 
 
 
  Study
  based
  approach
  coupled
  with
  primary
  research
  has
  been
  done
  to
  arrive
  at
  the
  conclusions.
  An
  analysis
  of
  the
  different
  prevalent
 formats
 has
 been
 done
 
 
 and
 based
 on
  the
 findings
 a
 framework
 has
 been
...view middle of the document...

 Store
 atmospherics
 and
 the
 social
  environment
 are
 topics
 covered
 by
 Puccinelli
 et
  al.
  (2009)
  and
  Verhoef
  et
  al.
  (2009).
  The
  environmental
  factors,
  such
  as
  social
  features,
  design,
  and
  ambience,
  can
  result
  in
  enhanced
 

Introduction:-­‐
  The
 Bottom
 of
 the
 Pyramid
 has,
 in
 recent
 times,
  drawn
  a
  huge
  amount
  of
  attention
  from
  corporate
 houses
 in
 India.
 The
 attention
 is
 well
  deserved
  considering
  the
  fact
  that
  the
  46
  million
  households
  in
  the
  bottom
  quintile
  (lowest
  20%
  by
  income)
  account
  for
  51
  %
  of
  the
  total
 income.
 “Inclusive
 Marketing”
 seems
 to
 be
  the
  way
  forward
  with
  companies
  striving
  to
  develop
  innovative
  and
  feasible
  business
  models
  which
  involve
  the
  consumers
  as
  co-­‐ producers.
  In
  India,
  the
  huge
  rural
  population
  seems
 to
 be
 a
 burgeoning
 market
 waiting
 to
 be
  tapped.
 Companies
 like
 Godrej
 Agrovet
 through
  its
  Aadhaar
  stores,
  DCM
  Sriram
  through
  its
  Hariyali
  Bazaar,
  Mahindra
  and
  Mahindra
  through
  Mahindra
  Subh
  Labh,
  IOC
  through
  its
  Kisan
  Seva
  Kendra
  and
  others
  have
  set
  up
  operations
  to
  capture
  value
  in
  this
  market.
  In
  the
  process
  of
  generating
  profits
  from
  these
  markets,
  the
  firms
  are
  also
  contributing
  significantly
  to
  inclusive
  growth
  by
  generating
  employment
 and
 providing
 technical
 know-­‐how
  through
  advisory
  services
  for
  farm
  process
  improvements
  to
  the
  consumers,
  a
  majority
  of
  whom
  have
  agriculture
  as
  their
  primary
  profession.
 
  The
  present
  study
  aims
  at
  identifying
  the
  key
  factors
  influencing
  these
  businesses
 and
 their
 relative
 importance.
 A
 case
 
 

pleasure
  and
  arousal
  (Baker,
  Grewal
  and
  Levy
  1992,
 Mehrabian
 and
 Russell
 1974).
 Verhoef
 et
  al.
  (2009)
  suggest
  the
  need
  to
  better
  understand
  the
  role
  of
  the
  other
  consumers
  in
  the
  shopping
  experience.
  Baker
  and
  Cameron
  (1996)
  and
  Sommer
  and
  Sommer
...

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