The Hindu Business Line : CII marketing meet from tomorrow

AMIDST a growing global debate on the value of marketing and the necessity for companies to spend exorbitant sums on marketing for fast diminishing returns, Confederation of Indian Industries (CII) will organise a two-day marketing summit from August 18.

CII is organising the fifth such summit with the theme "Challenging the Value of Marketing", which will be inaugurated by Minister of State for Civil Aviation, Mr Praful Patel.

Among the speakers expected to address the summit will be Dr Anil Menon, Vice-President, Corporate Brand Strategy and Worldwide Market Intelligence, IBM, USA. Dr Menon specialises in the areas of marketing creativity, marketing innovation and market intelligence and will share his perspectives on the topic of `Leveraging the brand and marketing to drive business results'.

Others expected to share their thoughts during the two-day summit include Mr Suhel Seth, CEO of Equus Red Cell; Mr Sanjiv Gupta, President & CEO, Coca-Cola India; Mr Manu Anand, Managing Director, Frito-Lay India and Mr Prasoon Joshi, National Creative Director & EVP, McCann-Erickson India.

Mr Sunil Lulla, Executive VP, Sony Entertainment Ltd; Mr Piyush Pandey, Group President & National Creative Director, O&M; Mr Sandeep Kohli, MD, Yum! Restaurants International; Mr Subodh Bhargava, Chairman, Wartsila (India) Ltd; Mr Piruz Khambatta, Chairman & MD, Rasna Ltd, will also address the gathering.

According to a CII statement, some significant changes are sweeping across the world, in the way business is being conducted today. In an increasingly competitive world, no longer is marketing wizardry the only way to make an impact in terms of market share and growth. For marketing to move up the strategic value chain of an organisation, it needs to gain credibility through greater accountability and increased consistency with corporate strategy.

Loyalty has become a crucial element of business accountability, given the escalated cost of acquiring customers. Do promotions really help build loyalty? Can the costs justify the bottomline? The challenge for marketers is to clearly demonstrate links between accountability, perceptions and budgets, the statement said.

It said over 400 marketing professionals, specially the decision-makers from the leading `ad spenders' are expected to attend the two-day event. The summit will also explore the recent explosion in marketing expenditure, particularly media expenditure in an attempt to change customer perceptions and build brands.

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