Marketing & Strategy Articles

Have you ever found yourself returning to same store just because you felt as if you are treated in a special manner? Or say, have you ever wanted to visit the same restaurant because you felt they took better care of you than other restaurants? Well, that is customer experience for you. Over time customer experience has emerge as a major differentiating factor for B2C companies. But is this the case for B2B companies?

In recent years there has been phenomenal growth in service industries. A major portion of employment is provided is provided by service industries in comparison to the manufacturing sector. Both macro and microeconomics of the nation are affected because of the revolution in the service industry. At the macroeconomic level, there is need to update the workforce as per requirement and at microeconomics level manager are required to change the marketing strategies in order to develop a relationship with the customer. Local and one to one aspect of service marketing makes the difference. Advertising in the service industry is done majorly internally instead of hiring the outside agencies as in the manufacturing industry.

Many amongst us feel that advent of cab service firms are creating fortunes for thousands of cab drivers in India but the reality is not this simple, life of rental cab drivers is certainly not a piece of a cake rather their life is a process of riding on randomness to deliver certainty to their customers. Apart from the risk to their lives on dangerously crowded roads there are numerous cases of theft and murders committed against these cab drivers but this is not all there are other challenges that these poor drivers have to face which is the ‘continuous appraisal’ process.

India has been an independent nation for close to 70 years now and yet remains a ‘developing’ nation. Primary understanding of economies of various developing and developed nations reveals a clear differentiation - the contribution of organized manufacturing sector to the nation's GDP, which is alarmingly low for India. As we continue to perceive our economy as ‘rapidly growing’, this number remains under 17% while it is above 40% for developed nations like China and Malaysia.

A wise person once told “There will be medicine for hair loss, but never for brain loss”. A simple sentence that has varied dimensions. A thought that has spark in it. What it gives, is an opportunity to introspect on the other side. An enlightenment on the part that is never taken for reflection. But which deliberately needs contemplation and consideration.

The world is undergoing a major demographic transition. Not only is population growth slowing, but the age composition of the population is also changing. The share of the young population is falling and that of the elderly rising. Different countries and regions, however, are at varying stages of this demographic transition. In case of most advanced nations, the aging process is already well under way, and a number of developing countries in east and Southeast Asia will experience significant aging in the years to come. In other developing countries including India, the demographic transition is less advanced, and working-age populations is going to increase in the days to come.