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Experiential Marketing At Great Indian Marketing Weekend (GIMW), 2014

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Great Indian Marketing Weekend (GIMW), 2014 was conducted with the objective of bringing 50+ CMOs, VPs, Brand Heads, etc. as mentors where myriad numbers of clients and agencies team up to create marketing strategies, design campaigns, build plans and execute them to showcase their skills and products.

Experiential Marketing plays a vital role in participation of consumers in evolution of brands and it is one very effective medium of advertising which focuses on the engagement with consumers.

During the event, there was a panel discussion on Experienatial Marketing led by a panel of industry experts viz., Mr.Alok Bhardwaj, Canon; Mr. Philip Horvath, INOS; Mr. Priyank Narayan, Indiapreneurship; Mr. Visham Sikand, IHO; and Mr. Navneet Monga, PepsiCo.

Some of the great statements made by speakers are:

Mr.Alok Bhardwaj, Canon:

  • One should connect and know how you are leveraging experiential marketing.
  • Integration at consumer’s life helps to create long term relationship between client and company.
  • Taking photography and cameras as example, if you want to gratify the functionality you should know how to use it and not just buying camera will do the needful, experiencing its skills is important.
  • Talking about Analytics, in B2B industry the best way of experiential marketing is to have a proof of concept.
  • Mr. Priyank Narayan, Indiapreneurship:
  • The main challenge in experiential marketing is “How do you get your customers (students) happy about learning from institutions?”

Mr. Navneet Monga, PepsiCo:

  • One thing which PepsiCo picked up was cost of recruiting a new consumers was 8 times higher then cost of servicing an existing consumer.
  • Experimential marketing comes in where you recruit a consumer by telling him that this is my space of brand and touch him emotional substance as well, as new consumer is also very important.
  • If your product is 1.5 point better then your competitor you need avg advertising, if your product is 1 point better than your competitor you need good marketing but if your product is 0.5 point better you need God.
  • How much bluffing is important? Product has to be good and you need to believe that it is good for consumer.

Therefore, Experiential Marketing was shown in different aspects by different experts.

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