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Pitch CMO Summit 2009: ‘What drives business network are awareness, education & insights’

18-December-2009
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Pitch CMO Summit 2009: ‘What drives business network are awareness, education & insights’

The Mumbai leg of the Pitch CMO Summit 2009, an initiative of the exchange4media Group, was held on December 17. The Summit saw five case study presentations on some well-known brands that have made their mark. Also unveiled at the event was the Brand-o-Meter that reveals how various brands measure.

Delivering the welcome address, Anurag Batra, MD & Editor-in-Chief, exchange4media Group, said, “This is the second leg of the Pitch CMO Summit. We had the first leg in Delhi, which was full of insights and strategies for next year. We are hosting a Brand-o-meter, which is on how various brands measure. The last 12 months have been tough for all of us, yet there have been brands that made a difference in this slowdown.”

The day began with marketing case study presentations. The first marketing case study was presented by Rajesh Mehta, Director – Marketing, South & South East Asia, Western Union. Mehta said, “This year we had some exciting and not so exciting times. We wanted to bring in some pace in the existing environment. Western Union gives a lot of confidence to people in India to transfer money for the first time. Today, we have become an integral part of everyday lives. We are a Fortune 500 company and are a global leader in money transfer services. Today, we connect with over 5,400 agent locations. India is the largest recipient of remittance in the world.”

He further noted, “What drives business network are the awareness, education, and insights that drive focus. We managed continuous growth by focusing on sending corridors and by having competitive pricing and growing new markets. 30 million NRIs send money home. The key corridors to India are theMiddle East, the US and the UK. We also focused on newer markets like Singapore, Malaysia and Australia. For example, in the Gulf region, we addressed labourers in the UAE, Saudi Arabia and explained to them about how they could transfer money. Thus, we connected with key and level opinion corridors.”

Citing some figures, Mehta added, “There are 200 million migrants across the world and there are 15,000 active corridors globally. In 2008, the remittance globally stood at billion. We accounted for 17 per cent of the remittance market. Pricing drives this category substantially. We also grew new markets like Rajasthan, Uttar Pradesh, and Bihar. The migration network has increased and we have also increased visibility through Tier II and III cities. We have also done various activations.”

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