ICAM-2021

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    Total Interpretive Structural Modelling of Marketing Challenges and Strategies Amidst Covid-19 Crisis
    (Department of Marketing Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2021) Ishrat, Irna; Hasan, Mohammad; Khan, Fateh Mohd; Farooq, Ayesha
    Economic Crisis, whatever may be the reason, results in unpredicted behaviour from the consumers and, as such, becomes a trying situation for the marketers to devise proactive strategies for countering the panic. Presently, India, which is already going through a national slowdown, has suffered drastically due to the global pandemic. Production levels have decreased, leading to massive scale unemployment. With a decrease in disposable income, people are now resorting to selective purchases and moving towards responsible consumption. In such a scenario, understanding crisis marketing becomes highly essential. The study intends to explore the different challenges of consumer behaviour exhibited during crisis and marketing strategies that managers prefer to adopt to wrestle against the crisis. The study follows a qualitative methodology, Total Interpretative Structural Modelling (TISM). The methodology depends on a basic idea of using experts' practical experience and knowledge to decompose a convoluted system into clear elements and construct a multilevel structural model. John N. Warfield first used the interpretive structural modelling (ISM) technique in 1973, which explains the hierarchical relationship between the identified factors. TISM is an extension of ISM technique and includes transitivity (indirect relationships) between factors. The study provides two separate TISM models. One shows hierarchical relationships among the challenges of consumer behaviour during the crisis. Another model depicts the multilevel relationship among different marketing strategies likely to be efficient during the crisis. Additionally, the MICMAC method is applied to examine the relationships' strength between factors based on their driving and dependence power. All the variables identified in the study are classified into four clusters; autonomous factors, dependent factors, linkage factors, and driving factors. The data collected for the study involves an extensive literature review followed by interviews with industry experts. Managers consulted for the study belongs to the FMCG industry, retail industry and some inputs were also collected from logistics companies to gain information about the demand of the consumer's goods during COVID-19. The study identified ten consumer behaviour challenges exhibited during the crisis. Consequently, 'price sensitiveness' resulted as the driving factor for other consumer behaviour challenges such as more saving habits, adaptive buying, apathetic materialist, lesser brand loyalty, engagement in low-cost luxurious consumption/Lipstick effect, low focus on brand messages, increased bargaining, simple and prudent lifestyle, and delay in luxurious consumption. These problems change the overall economic scenario by reducing the aggregate demand, which ultimately causes a price rise in the economy. Such problems dare marketers to come up with strategies to resist the financial breakdown of businesses. Our study has proposed twelve hierarchical strategies that marketers can adapt to counterattack the economic crisis. Information management and crisis management system are driving strategies to sail through crises. Furthermore, innovation, entrepreneurial marketing, and business intelligence are the second most central strategies comprising a lot of turnaround engineering to cater to businesses during a crisis. Retention Branding, promoting durable products, new pricing perception, differentiation strategy, lateral marketing, social media marketing, and credit financing comes under the category of autonomous and dependent factors.
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    Analyzing Sustainable Performance of Indian Leather Industry
    (Department of Marketing Management, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka., 2021) Hasan, Mohammad; Farooq, Ayesha; Ishrat, Irna; Javed, Mohd Yousuf; Khan, Fateh Mohd
    With a capacity to produce 12.9% of world's leather goods, employing more than 4 million workforces and producing approximately 3 billion square feet of hides and skins, the Indian leather industry is highly attractive for foreign direct investment which has been recorded to be around $193.7 million in the year 2019. As such, the leather industry has a strong bearing on the economic growth of the country. However, sector is not able to comply with sustainability standards, which has rendered the industry as the prime source for industrial pollution and reduced its economic competitiveness.While it may seem to be a far-fetched idea of achieving sustainable standards, responsible governance, implementation of growth policies aimed at upliftment of poor and business innovation can considerably enhance the quality of life of the people across the globe. To attain ecological sustainability, it becomes necessary to focus on effectively utilizing the available resources. The companies thus, need to identify determinants of the triple bottom line to achieve sustainable development. As such, the role of executives in implementing sustainable practices has become relevant in the present industrial environment. According to, the companies have now become considerate in identifying the executives who contribute towards sustainable development thereby resulting in overall profitability.Sustainable development in the context of small and medium enterprises especially the leather sector holds a significant position. Industries focusing on sustainable development tend to develop competitiveness in the market. It can be achieved through implementing cleaner technologies such as developing leather parks, pre-treatment of sewage and water recycling. In-fact, the adoption of cleaner technologies has been observed to reduce COD levels to 80 to 90%. Besides, proper knowledge of circular economy which helps in improving economic efficiency and resource capability is indispensable for attaining sustainable development. However, the implementation of CE is dented by the lack of accessibility of finance and the support of authorities. Also, lack of customer awareness, low commitment from top managers, inadequate reverse supply chain provisions and outdated machinery further pose significant barriers towards attaining sustainable development. The policy makers would therefore, need to benchmark practices for developing better insights for the industry.To address this problem, this study focuses on analyzing the sustainability performance of the Indian leather industry and present a comparison among the three major states including Uttar Pradesh, West Bengal and Tamil Nadu. The study also compares performance among sub-sectors including tanneries, footwear and overall manufacturing industries. The data has been collected for a period of 10 years from the annual survey of industries reports since 2008-09 to 2017-18. The variables that have been analyzed include economic (Percentage operational factories, return on investment, fixed assets turnover, turnover per Manday, total productivity and labour productivity), environmental (Material intensity, electricity intensity and fuel intensity) and social (Gender ratio, percentage salary wage expense and percentage bonus expense).The researchers have compiled heat maps indicating areas of concern and high performing variables.