Marketing Technology is the Key Mantra
By Prof. (Dr) P K Chopra
Touching the lives of millions, technology at work, driving the marketing machine, the best is yet to come
Marketing technology at work has made the life of consumers easy at the same time made it smoother for the companies to gross higher revenue much more quickly. Supply Chain Management is nothing but ‘marktech’ i.e. marketing technology management now
Let’s observe the following statistics
Gross sales 3250 crores, employees 33,000, nature of business ‘delivery of ordered goods anywhere anytime at a clicked price’, “Every wish gets fulfilled now”. The company is Flipkart.
Another case is of a manufacturing company – Gross sales 33000 crores, manufacturing plants 100, suppliers 2000, managers 1300, employees 15000, products 1000, wholesalers 7500, redistribution stockists 7000, retailers 10,00,000, and consumers 70 crores. That’s HUL in India.
Let’s look at another retail giant:
33 lakh crore gross sales, 22 lakh employees, Stores at 11620 locations in 28 countries ,sells 42,59,600 products all over the world and that’s Walmart.
The idea of quoting these figures is to notice the impact of technology on marketing. Every person who is in business has to be a part of technology-driven marketing machine in the present era.
HUL is completing its 85 years of existence in India and has come a long way on achieving a unique feat of touching the lives of its 70 crore consumers in India. One can not easily imagine the journey of this company functioning since 1931 and probably can write a history of the evolution of marketing technology in India by trekking the track record of the growth of HUL in this country.
Take the case of Walmart now, it is amazing to handle 43 lakh products with a cost efficient way and manage a retail sales of 33 lakh crores in 28 countries churning out a gross revenue that is equivalent to the GDP of many countries together and much higher than the GDP of most of the countries of the world.
All this can not be achieved without a hi-tech marketing machine oiled by ever innovating ideas.
Flipkart and scores of other ecommerce companies are driving towards their vision of “anytime anywhere at a discounted price” & are aiming to achieve it through technology.
Now-a-days, people who are working round the clock are associated with ecommerce business. Physical and technological combo is making the functional process more revenue efficient. Social media is adding emotional angle to it thereby fulfilling the awareness and competitive needs of the companies and the consumers at large.
India will soon forge ahead of the developed countries with this technology driven marketing machine. This makes it imperative that the educational thrust must be provided to equip the entire population of India with digital literacy and use of technology in life style. India is marching ahead and 2020 will launch India in a leadership role in the new world order.
(The views expressed are personal)
-Windowtonews
