ICAM-2017

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    MARKETING OPPORTUNITIES AND CHALLENGES TO SME SECTOR IN INDIA 2017
    (Department of Marketing Management, University of Kelaniya,Sri Lanka, 2017) Prabhakar, G.
    Small and Medium enterprise (SME’s) play a vital role for the growth of Indian economy by contributing 45% of industrial output, 40% of exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets (CIMSME- Chamber of Indian Micro, Small and Medium Enterprises). Non-availability of suitable technology and ineffective marketing strategies are major problems with respect to marketing of MSME products in India as well as outside India. The paper examines the reasons for the failure of overcoming these problems years together and investigates the ways and means to overcome it with present marketing opportunities and technology. Study initiative plans by the government to strengthen the marketing channels for MSME sector in India. Present opportunities to adopt new era of marketing strategies and sources of improving strength in marketing sector by MSME’s in India.
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    HOW SOCIAL MEDIA MARKETING HELPS TO RETAIN BRAND EQUITY DURING PRODUCT CRISIS
    (Department of Marketing Management, University of Kelaniya,Sri Lanka., 2017) Amin, H.; Javaid, K.; Zafar, F.
    The main objective of this study is to explore how social media marketing help brands when brands facings crises. Brand equity is a priceless asset of companies. We formulate that Social media is one of the powerful tools for creating brand equity of business. A research shows that mostly owners of different businesses say that use of social media do miracles for their businesses. Social media consists of online web interactive tools such as Facebook, YouTube, Google plus, Twitter, Snap chat, Blogs, whats app, imo Etc. Through these tools companies interact with their customers to maintain positive relations with them and to become more close to customers. To support our research we use case study of Maggi brand in India. In order to accomplish the objective of the study we use Brand Asset Valuator model. The findings of our research shows that social media has positive effect on brand equity during crisis. We also find that where the social media services are not available there are less chances of brand improvement and it has negative effects on brand loyalty and brand equity.
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    CROWDSOURCING - A NEW ORGANIZATION OF COOPERATION AND INVOLVEMENT OF THE CUSTOMER IN THE PROCESS OF VALUE CREATION
    (Department of Marketing Management, University of Kelaniya,Sri Lanka., 2017) Caputa, W.
    The companies more and more often take measures aimed at creating long-term and profitable relationships with customers in order to attract and retain the capital supply, which is reflected in the level of customer capital generated. When leading to achieve this goal the companies launch an innovation process and take actions to involve the customer in the process of value creation. Crowdsourcing is one of the methods for this purpose. This method is based on the knowledge and experiences of not exactly identified crowd, and on the use of IT infrastructure, it allows utilizing the potential and experience of final users of knowledge embodied in the products offered on the market. The development of media enabling the establishment of, in fact, real-time communication with the customer, inclines many companies to open a crowdsourcing platform. However, many of these initiatives end up in failure. It raises the need to identify the factors determining the effective and efficient use of crowdsourcing in building the customer capital. In order to face these challenges, the key objective of the article was formed in the following way: identification of the opportunities and barriers of using crowdsourcing in the process of customer capital creation. On the basis of literature studies, results of research conducted at domestic and international centers, as well as on practical experience of companies, it was demonstrated that the effective use of crowdsourcing is not only connected with the need to develop the strategy, but also to develop and implement a new organization of work based on process approach. In such organization the customer, appearing in the role of an employee, should have the ability of information transfer provided, and must be motivated appropriately to his/her expectations. It does not change the fact that, just like every employee of a company, his/her potential, in terms of the contribution to the process of value creation, is subject to continuous assessment from the perspective of changing objectives of the company itself. Thus, the "not exactly identified crowd," considered as one of the pillars of crowdsourcing, must be "recognized" and used according to its potential. The volatility characterizing today: behavior of units, their expectations, as well as the organization of processes aimed at creating value for both parties of the relationship, requires that the process of "crowd" recognition and the ways of its use is continuous, what is enabled by process approach.