IMA 2014: Decoding Key Factors For Success With Vinita Bali
As the industry, at large, expects marketers to master every channel and technology that pops up, to integrate them flawlessly and to realistically be able to forecast what’s next, the Indian Marketing Awards 2014 aim to recognize and celebrate the most innovative and effective campaigns for their strategy, execution and delivery By Ankur Singh Key driving factors of success in business like brand activation, brand extension, brand revitalization, among others, reflect strategic marketing objectives that are common to all organizations. Vinita Bali, former Managing Director, Britannia, who will be heading the jury at the Indian Marketing Awards 2014, feels that the most significant challenge for marketers is driving the concept that “brands are businesses” right through the company. “This implies that the entire value chain of brands must be designed and engineered to deliver sustainable and profitable growth. The “business of brands” therefore, becomes the rallying cry for the company and not just its marketing department or brand managers. That also means that brands and the business they generate become an increasing part of conversation in board rooms.” According to Bali, “One really cannot delink the Indian marketing industry from Indian industry, because marketing is what creates the momentum for any industry. The role of marketing is to identify opportunities and commercialize them in a manner that creates value for all stakeholders. The Indian growth story is inextricably linked to the Indian marketing story and the ability of its people to create products that are both relevant and differentiated and support them with a business model that is sustainable.” Bali points out that as marketing conversations enter the boardroom, “it becomes a key imperative for marketing professionals to demonstrate the return that marketing investment generates, so that in crunch situations, companies don’t slash advertising budgets, but rather spend them wisely and effectively to generate incremental sale.” As India gets its own marketing awards, Bali says that the awards are great as long as they are linked to results that marketing produces and cannot be based on fads or flashes of creativity. “We are a long way from understanding marketing both as a science and an art. The purpose of IMA must be to recognize, reward and encourage marketing initiatives that create sustainable and profitable growth. Consequently, IMA must stand for a level of excellence that companies strive to be recognized for,” she says. “It is always important to showcase success but even more important is the ability to distil the key factors that produced the success, so that success can be replicated and is not a matter of chance. It is my perception that we don’t spend enough time in understanding and decoding factors for success or failure and end up impeding our own learning curve.” According to her, as we near the awards ceremony, the biggest expectation of this year’s event is to “truly recognize exceptional work so that it inspires and motivates the industry to strive for excellence. IMA must stand for a level of excellence that companies strive to be recognized for.” About Vinita Bali With extensive experience in leading large companies both in India and overseas like The Coca-Cola Company and Cadbury Schweppes PLC, Vinita Bali has held a variety of marketing and general management roles in the UK, Nigeria, South Africa, Chile and the USA, in addition to Britannia Industries Ltd., in India. From April 2014, she has been pursuing her own interests in the corporate and development sectors, through a portfolio of roles and responsibilities. She is one among 27 global leaders appointed by the UN to help improve maternal and child health as part of its SUN initiative. She has been recognized at national and international forums and won several awards for her contributions to business.
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