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Final assignment

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Final assignment

  1. 1. This internship has served as the first step towards my journey of achieving my aim....... And guess what this was the best step I could have taken!!!! By: Kartik Singla Indian Institute of Technology(BHU), Varanasi
  2. 2. The presentation tips highlighted by Jesse Desjardins, Garr Reynolds and Nancy Duarte served as the benchmark for creating every presentation in a more presentable manner!!
  3. 3. “ Usually Power point kills”
  4. 4. 5 design mistakes that should be avoided at any cost!!!!
  5. 5. Too much info in one slide 1.Mistake
  6. 6. Not enough visual content / Lack of pictures 2.Mistake
  7. 7. Poor design quality 3.Mistake
  8. 8. Visual Vomit 4.Mistake
  9. 9. Lack of Preparation 5.Mistake
  10. 10. Prepare Design Deliver
  11. 11. “Mesmerizing your audience by storytelling is the best way to present!!!”
  12. 12. Analysis of the HBR Article: “What marketers misunderstand about online reviews?”
  13. 13. What Marketers Misunderstand About Online Reviews? With the growing availability of opinions from experts and users, the importance of a brand name had diminished.
  14. 14. • Buyers depended on marketing concepts provided by the company. Past • Buyers now rely on online customer reviews and social media before a purchase. Present
  15. 15. “Companies need to dramatically shift their marketing strategies to account for the rising power exerted on future customers by the opinions of existing customers.”
  16. 16. There are two tools to help managers decide their tactics: The Influence mix The O Continuum
  17. 17. Influence Mix Prior experiences (P) Information from marketers (M) Input from other people (O)
  18. 18. O Continuum Refers to
  19. 19. “ On understanding the dependence of consumers on ‘O Continuum’, companies can make strategic changes in various streams”
  20. 20. Companies in O-dependent markets can improve their previously established “Competitive Position” because of the new reviews coming up on every product.
  21. 21. Instead of celebrity endorsements, companies should focus on generating user reviews and “Communication” of authentic content on internet retail.
  22. 22. “Market research” usually aims to predict the kinds of products consumers will like by systematic tracking of information from review sites.
  23. 23. Companies should analyze different “Consumer and product segments” and tailor their marketing strategies accordingly.
  24. 24. CONCERN OF THE MARKETERS Are online reviews genuine without any manipulation and fraud???
  25. 25. “These review websites have become increasingly sophisticated in filtering out fake reviews”
  26. 26. “ These ideas have been implemented by certain companies and campaigns in India as well!!!”
  27. 27. Online Shopping giant “FLIPKART” grew into a 5000 crore venture by analyzing the requirement and reviews from its customers!!
  28. 28. Social media played a huge role in AAP’s success in both the 2013 and 2015 assembly elections in Delhi.
  29. 29. “Reviews as a source of earning” ANUPAMA CHOPRA (FILM CRITIC) KESHAV MALIK (ART CRITIC)
  30. 30. Many review websites such as realreviews.in and onlinereviewpal.com have come up in India exclusively with the customer reviews in every field.
  31. 31. “A Case Study on Bangalore- based Real Estate Company (Bangalore Realty Limited- BRL).”
  32. 32. This case studied effects of online reviews on intentions of existing and potential customers with regard to “Bangalore Realty Limited- BRL.”, which included 221 online reviews and interviews from 25 customers!
  33. 33. Help customers for making decisions about ‘continuance’ or ‘withdrawal’ or ‘staying away’ from the projects of BRL. Online reviews
  34. 34. Help BRL itself by monitoring and responding to such reviews through setting up of appropriate customer complaints handling system. Online reviews
  35. 35. S.No Website Code Date of First Post Date of Last Post Date accessed No. of reviews 1 www.indianpropert yforum.com I 04 Apr 2011 10 Oct 2013 16 Apr 2014 94 2 www.feedbackertea m.com II 28 Apr 2011 17 Aug 2011 17 Aug 2014 30 3 www.indianrealesta teforum.com III Apr 2010 Jan 2014 16 Aug 2014 28 4 www.complaintsbo ard.com IV 13 Feb 2012 30 Jul 2014 17 Aug 2014 25 5 www.consumerco mplaints.in V 24 Mar 2011 28 Jun 2014 16 Aug 2014 21 6 www.socialhectare. com VI 13 Nov 2013 11 Aug 2014 20 Aug 2014 15 7 www.mouthshut.co m VII 29 Oct 2012 17 Aug 2014 20 Aug 2014 05 8 www.housingscam. com VIII 25 Jun 2014 25 Jun 2014 17 Aug 2014 03 Total 221 List of Websites in which user-generated online reviews about BRL appeared
  36. 36. Ten customers who invested in 2010-2011 were highly satisfied with BRL as they got the sites as per promised schedule. Three of them wrote positive reviews online, while seven gave feedback to the company. This positive ‘Word of Mouth’ had promotional effect on potential customers.
  37. 37. Customers who gave negative feedback did not bother to look at online reviews before investing in BRL. Negative reviews reduced potential customers and existing customers started to withdraw from projects.
  38. 38. “The message is loud and clear : Ignore the online reviews at your own peril”
  39. 39. Some concepts from “Kotler” related to the article.....
  40. 40. The selection of communication channel is very important to carry the message of the company forward efficiently.
  41. 41. Communication channel Personal Non-personal
  42. 42. Personal communication channels directly relate to the importance of online reviews, wherein positive reviews can help increase brand value on online portals!!
  43. 43. Organising online forums and communities (Social media) can provide companies with useful, hard-to-get customer insights!
  44. 44. Kodak has found that peer-to-peer recommendations and reviews within the ‘Idea Center at Kodak Gallery’ has led to more frequent purchases.
  45. 45. Bloggers who review products have become an important concern because they may have thousands of followers influenced by their perception!
  46. 46. Online reviews play an important role in “Post purchase Actions” of a customer, making the customer feel delighted or disappointed from the purchase!!
  47. 47. Willcome to those companies which closely track the sources their customers refer to during purchase and find the best marketing tools to control them!!
  48. 48. “These slides were prepared by ‘Kartik Singla’ as a part of an internship done under ‘Prof. Sameer Mathur’ (www.IIMInternship.com).” Disclaimer