PMAR 2020: Age, scale, IP, reputation, equity - nothing guarantees success: Sanjay Behl
At the unveiling of the Pitch Madison Advertising Report 2020, Sanjay Behl, CEO, Lifestyle Business, Raymond, spoke on the topic - 'Self Disrupt or Perish'
Age, Scale, IP, Reputation, Equity, nothing guarantees success or existence for any organisation Its important for everyone to “Self Disrupt or Perish,” said Sanjay Behl, CEO, Lifestyle Business, Raymond spoke on the topic self disrupt or perish who was one of the keynote speaker at Pitch Madison Advertising Report 2020.
With the advent of diverse intersecting exponential technologies, many industries, corporates and brands are getting disrupted at an alarming pace and accelerating frequency. Behl shed light on how marketers and brand owners can brave up to this new constant and stay relevant in this era of disruption!
According to Behl, any company, irrespective of size, history or market share, is vulnerable to perishing if they do not keep up with the changing times. He took the example of two of the biggest companies in the last decade — Nokia and Kodak. Both companies were market leaders in their respective sectors. "In 2007, Nokia had one billion customers and they were not slowing down. By 2012, Nokia went bankrupt and its $85 billion valuation fell to $10 billion. Nokia which had 80% share in India, failed," he told the audience.
“Kodak was one of the market leaders for 150 years. It invented photography in the world. It went from one of the market leaders to a major downfall,” he stated.
He also stated examples of US-based company Blockbuster where Jim Keyes, CEO, Blockbuster said that neither Red box nor Netflix is even on the radar screen of competition in 2008. And in December 2009, Blockbuster went bankrupt. Netflix's value today is at $70 billion.
"Age, size, reputation, sales figures, brand equity — none of these factors guarantee a company's existence tomorrow. It becomes important to rethink why your brand exists and to envision a clear brand purpose. The newly introduced brands are growing big time; No guarantee exists today," he shared.
Behl also shared insights from the industries and how Raymonds is staying relevant in today’s time.
Talking about the lifespan of companies, Behl shed light on a data listed by S&P 500 which says that the average lifespan of a company has significantly decreased: 1920's = 67 years today = 15 years. Companies like YouTube, Instagram, Dropbox, has grown in 5 years, whereas companies like Whatsapp, Airbnb, Oculus has grown in under two years. The pace of changes is happening every 9-12 months.”
Talking about the future, Behl said, “Almost every single thing in the world will get digitized. And anything which gets digitized will get deceptive and lastly, it will get disruptive.”
“70 - 80% of things that we are consuming free today, won't be free after some years - All natural resources on this earth are less than 5 years of solar - Oil economy is going to run down in a matter of 10 years,” he predicted.For more updates, be socially connected with us on
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