New RS. Symbol?

One may not necessarily know either Jitiesh Padamshali, Shahrukh J. Irani, D. Udaya Kumar, Nondita Correa Mehrothra or Shibin K K but if all goes well, then the new symbol of the Indian rupee will be the design work of one of the five. A new symbol for the Indian rupee (which till date is abbreviated as Re, Rs. or INR) will ensure that it joins the select elite club of major currencies like US dollar, European euro, British pound and Japanese yen all of which have a unique identification symbol. It is perhaps the growing influence of the Indian economy that has promoted the Indian government to initiate the move to have a unique symbol for the currency and is intended to convey the brand value of the currency and the nation, one which takes into account Indian ethos and culture. As a matter of fact, the initiative could not have come at a better time when whispers for a new global currency are only growing louder day by day. Nevertheless the moot question is will this make the Indian currency internationally acceptable for trading or is it a mere cosmetic improvement?

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

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ACKNOWLEDGE, ACCEPT AND EMBRACE

With the Indian populace searching for alternative entertainment avenues to cricket and Bollywood, alternate sports and entertainment options are rapidly becoming growing generic platforms for marketers in India today

While the movement in marketing away from cricket and Bollywood and towards other sports started almost 10 years ago, it is only in the last four years that this paradigm shift has truly begun to gather momentum. The foremost reason of this shift is of course the increasing disposable incomes available in the hands of millions of paying customers, who have been saturated by often pointless cricket and by the disappointing entertainment that is being churned out by Bollywood. A significant percentage of this customer base is constituted of a more urbanised ‘discerning customer’, who is no longer satisfied by plain vanilla entertainment, but who today, demands the loudest possible bang for his buck. As more money comes into other sports and alternate entertainment avenues and, by so doing, empowers these alternate entertainment options to market themselves better to this class of unsatisfied customers.

The second is increase in the risk taking appetite of marketers in alternate entertainment avenues as they become a valuable generic platform. The relationship between marketers and alternate generic platforms is a unique one, for in effect, it is the monetary input of marketers that allows the creation of alternate platforms, which these marketers then themselves exploit to showcase their products. As more and more discerning customers shift away from cricket and Bollywood to these developing alternate platforms, the platforms themselves will become self sustaining, permanent, valuable and therefore of immense interest to other marketers, who will view these alternate avenues as high value propositions through which to market their products. Inevitably, the effect of these self sustaining alternatives will be to support a vibrant ecosystem based on the financial wherewithal of an increasingly vociferous class of paying customer, where all stakeholders will benefit from symbiotic relationships.

The third important change that is already taking place is recognition of the fact that neither cricket nor Bollywood offer any brand the chance of uncluttered brand recall. For instance, while the most ardent of cricket lovers will be hard pressed to name either the sponsor of the last India series played in India, or the name of the various sponsors on the shirts of an IPL team, or the brands that are endorsed by Shah Rukh Khan, all football fans of this country will unhesitatingly identify ONGC as the sponsor of the I-league.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.

IIPM B-School Detail
IIPM makes business education truly global
IIPM’s Management Consulting Arm - Planman Consulting
Arindam Chaudhuri (IIPM Dean) – ‘Every human being is a diamond’
Arindam Chaudhuri – Everything is not in our hands
Planman Technologies – IT Solutions at your finger tips
Planman Consulting
Arindam Chaudhuri's Portfolio - he is at his candid best by Society Magazine

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