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Partnering to script success stories

Partnering to script success stories

Author | Ruchika Kumar and Pragati Ratti | Monday, Aug 23,2010 8:41 AM

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Partnering to script success stories

The Pitch Marketing Academy workshop unfolded with marketing bigwigs sharing insightful presentations on ‘Marketing through Partnerships & Alliances’. The workshop covered wide ranging topics such as emerging trend of alliances among brands and the intricacies involved in such partnerships. The eminent speakers stressed on how marketing was no longer about just delivering the message, but also about creating experience for the consumers.

The event commenced with the inaugural address delivered by Dr SR Singhvi, Professor of Marketing, International Management Institute, on the emerging trend of alliances among brands and the intricacies involved in such partnerships.

As moderator of the sessions, he informed the audience that marketing alliances were formalised collaborative arrangements between two or more organisations focused on downstream value chain activities. He added, “It is not joint venture marketing, instead it should take note of the complementary and compensatory strengths and weaknesses of the companies.”

He added that an alliance was strategic in its approach and should not be misinterpreted as cartels or quick fix mechanisms for covering corporate deficiencies.

The introductory speech was followed by the first session of the day with Mario Perez, Director Sales, Marketing, and Products, Canara HSBC Oriental Bank of Commerce Life Insurance. He spoke extensively on the ‘Joint Venture’ model of the three banks that came together in 2008 to launch a unified life insurance company.

The case study enlightened the audience on the unique ‘bancassurance’ model of the three banks and how the company leveraged from such an arrangement amidst challenges. The most important was to change the mindset of customers for better brand recall against competitors like LIC and ICICI Prudential. “For a successful alliance you have to be transparent and friendly to your customers,” added Perez. The main objective was to drive customers to the partner bank branches for life insurance and increase the consideration and preference score of the three banks for purchase of life insurance. As a result, Perez added, “The JV was beneficial in terms of use of resources; moreover, awareness level among customers arose from 25 per cent to 72 per cent in the last two years.”

This session was followed by an address by Vejay Anand S, Senior General Manager, New Business Initiatives, Head, Sales & Marketing, Resorts, Head, Products and Alliances, Cafe Coffee Day. He stressed in his presentation, titled ‘Partnering to Script Success Stories’, on the fact that marketing was no longer about just delivering the message, but also about creating experience for the consumers. Pressing upon CCD’s focus on the youth as their TG, Anand said, “While going for an alliance, we look for a brand with common consumers, but different offerings.”

He cited the example of CCD’s alliance with Axe for the Axe Twist campaign in which they mixed two drinks in front of the customer to make a drink as per the customer’s wish.

Anand further explained the types of alliances that CCD looked out for, including marketing alliance, which CCD had been doing with Snapple for a long time, merchandising, sampling, ticketing and greet. Real estate is another area that CCD had started touching by partnering with petrol companies and multiplexes.

Anand concluded the session by explaining how CCD evaluated the results of its partnerships by keeping a check on customer dipstick, monetary aspects, footfall, enquiries and measuring the bill size. He summarised his presentation by saying, “At the end, at CCD we look at opportunities that appeal to the youth that remains our one point focus.”

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