Since Professor Richard Thaler has got Nobel in Economics for his theory about “Exuberance is Rational,” it is sort of introspection for me to sit and re-look the concepts of marketing I know. I always perceived myself as an irrational customer, that’s why I was reluctant to pay the maintenance fee for 1 year at CR7 CRUNCH when I am about to use it for 9 months. Yes, Eli (MRCB Partner in crime) found it weird, and I kept my point explaining the concept of rationality.
Prof Thomas Ramsoy did answer my question in a beautiful way that how important it is for managers and academicians to collaborate and work to achieve the purpose of grabbing “attention” of customers in the times of cognitive overload.
Neuromarketing is indeed a beautiful invention of cutting-edge technology to analyze what a consumer never shares. It indeed tells us how a consumer “behaves” in a particular situation without even consciously intended to. Learning about the brain always makes me inquisitive that how capable it is, thanks to my association to positive psychology.
It was an informative session from an eminent professor, who is also the founder of Neurons Inc, revealing the exciting facts about brain and how it is targeted in the world of marketing. In a race of seizing the pie of a customer’s market-share, how brands end up without even getting noticed.
There is no tunnel with a single way, while the time is limited and the customer is impatient. It is the matter of a couple of seconds, in which customer makes its purchasing decisions. Challenge is to focus on direct emotions, not just liking.
Nevertheless, there is a lot to learn for marketers from Neuroscience, and it is the time to “re-search” the subconscious!
If continued working with Asian Paints, today I would have completed 6 years of professional journey. It is wonderful to be at IE and starting a new adventure with hugely talented & phenomenally diverse bunch of people on earth. Sometimes, I can’t even believe that it is happening and yes, it is profoundly happening now.
Starting the first day at Segovia, a World Heritage Site by UNESCO, is famous for its cathedral, alcázar castle and its aqueduct. It is also renowned for its Romanesque art and many other outstanding buildings, including monasteries and convents. One of these convents, the Convent of Santa Cruz la Real, is currently the headquarters of IE University campus just outside the city walls in the Eresma River valley. A 12th-century building which was personally commissioned by Queen Isabella, whose figure sculpted in wood appears praying together with her husband.
The Dean, Mr. Lee Newman commenced his powerful speech about IE’s believe in dynamic learning in a continuously changing world, and infusion of “Change is attitude” DNA among its students. To “TOUGH LOVE,” and strive to bring out the best possible; (H)umanly, (S)ocially and (T)echnologically. It was already quite clear that it is going to be a tough year ahead. To challenge the limits and GO BEYOND.
IE is not traditional, and it is never going to be, it is the Business School of today!
It is the place where technology and humanity meet to create remarkable scientifically proven facts. It is amongst few places on earth where women outnumber men, where the student to faculty ratio is unbelievable, where the whole world studies in a country.
Precisely, IE School of Human Sciences and Technology is the home of 357 meticulously chosen students from 67 nationalities, who can speak 32 languages, who represent the world’s best organizations and possess the capability to become the future ambassadors.
IE demands better than the best! You work after you are done with your work. Every day begins with a challenge to give the best shot. I heard that people start in nice suits and end up in Jeans and T-Shirts. That’s TOUGH LOVE!
…..till the next BLINK, proud MRCBian! 🙂
As the market-ing entered into the digital era and thus continuously evolving its concepts. Marketers have to re-look and re-arrange the strategical inputs to co-create the whole thing. Unsurprisingly, marketing has adopted the process of digitalization at its best to understand and connect the customers, thereby creating the superior value propositions.
In the digital world, communities are the new segments & brand-advocacy is the new customer-loyalty. Customers are socially connected and they find themselves in a better position to believe the recommendation of a stranger rather than organizations. Such communities serve as a medium of the noiseless decision-making process and refrain from falling into the trap of luring advertisements. Today, consistently communicating and maximising touch points do not necessarily translated into the desired results. On the other hand, a calculated attempt of winning a customer can result in a better return. With increasing mobility and connectivity, this is the challenge that marketers have to come up with.
In the era of traditional marketing, customer loyalty was somehow considered as customers retention and “word of mouth” was restricted within a group or area. The term is now evolved as “Brand Advocacy,” to let the customer endorse a product or service in a better-connected world and this is crucial to the success and failure of the product or service. Its importance increases with increasing trends of communities and especially when it is unlikely to influence the decision-making process of today’s customer.
It brings a change to the earliest and widely used framework to describe the customer buying process is AIDA (attention, interest, desire, action). Derek Rucker has proposed a modification of AIDA that he calls the four A’s: aware, attitude, act and act again. Four A’s further modified by Philip Kotler: aware, appeal, ask, act and advocate, to make them more relevant in connectivity era. The terms, “act again” & “advocate,” clearly signify the target area of marketers.
I could imagine the pain he has suffered in his lifetime to blossom as a leader of great prominence. There are so many examples I came across as a source of inspiration to lead my life in a right direction. From Abraham Lincoln to Barack Obama–greatest they become, wrenching their stories are. The thing matters that how these icons have turned those adversities into an opportunity of their lifetime.
Who has no pain? only a dead cannot feel it. As per Psychologist Abraham Maslow, tragedy and trauma are the most important human learning experiences leading to self-actualization.
This is the story of Novartis Chairman & CEO, Daniel Vasella
Vasella was born in 1953 to a modest family in Fribourg, Switzerland. His early years were filled with medical problems that stoked his passion to become a physician. His first recollections were of a hospital where he was admitted at age four when he suffered from food poisoning. Falling ill with asthma at age five, he was sent alone to the mountains of eastern Switzerland for two summers.He found the four-month separations from his parents especially difficult because his caretaker had an alcohol problem and was unresponsive to his needs.
[Article includes original excerpts from Bill George's DISCOVER YOUR TRUE NORTH]
People talk about physical benefits of exercise but it is as good for mental health & emotional stability. Whenever I feel over-burdened and depress, I prefer to rush to gym, it is an antidote to fatigue & miraculously helps to stay happy & cheered-up. While we are so busy in our lives with lot of work & life related stress, it is highly recommended to spare at-least 40 minutes for exercise. Whatever we may do; whosoever we are, it’s great to exercise.
Exercise is good for mental health
Exercise changes the structure and function of the brain, improves blood flow to the brain, feeding the growth of new blood vessels and even new brain cells, thanks to the protein BDNF (brain-derived neurotrophic factor). BDNF triggers the growth of new neurons and helps repair and protect brain cells from degeneration. It may also help people focus, according to recent research. It’s linked to less depression, better memory and quicker learning.
Exercise makes us happy
Countless studies show that many types of exercise make people feel better and can even relieve symptoms of depression. Exercise triggers the release of chemicals in the brain—serotonin, norepinephrine, endorphins, dopamine—that dull pain, lighten mood and relieve stress.
Recovery from a major illness
People with different chronic conditions, from Type 2 diabetes to heart failure, should excercise. That’s new thinking, because for decades, people with certain diseases were advised not to exercise. Now scientists know that far more people can and should exercise. A recent analysis of more than 300 clinical trials discovered that for people recovering from a stroke, exercise was even more effective at helping them rehabilitate.
Exercise should be like bathing, if you can hardly skip it any day.
Note: The blog-post is based on an article published in TIMES Magazine
The most appalling thing can happen to someone is when he wants to eat but cannot. His jaw is dismantled and stomach is craving for food. He has to say something and cannot even speak. It was the time when no quotidian motivation felt enough and needed something beyond human propensity of unendurable. I wrote to her!
Unexpectedly, I have received a letter bearing the sender name as IROM SHARMILA CHANU. *Time has stopped for a while and life has changed into its due course*. What that was unbearable, went-off unharmed. Such was the power of her words. Eventually, an abandoned brother has found his abandoned soul-sister. An alone woman who is fighting the devilish for a selfless cause, what can be more powerful than her, not even the whole eternity.
Finally, the day had come, I went to see her; excited and thoughtful. Bewildered, I had no idea how to present myself in presence of Iron Lady. She saw me the first time and called me, “Sourav.” Her simplicity and miraculous smile were a sister’s love towards her brother. Her thoughts were so pure and fresh; she had chosen to talk about beggars in the city instead of the expensive beauty. A woman whose time is so precious that someone like Arvind Kejriwal wished to meet her. She has given me more than 2 hours to chitchat and share her experiences.
Her greatness is beyond words, just beyond words.
Happiness! Utter Happiness!!
Welcome Letter to Iche.
Kashmir has entered in its 50th day of predicament and bloodshed, by the time 70 lives are lost and thousands are severely injured of pallet guns. Any day in Kashmir starts with horrid quietude and all of sudden it becomes grim and strident. Those hands deserve pen and paper, hold stone to pelt upon people who are there to guard them. Barely they know the reason. Why?
You pelt a stone, we fire a pellet gun; one has to injure, blind, disable. That’s not the future of the state of Jammu and Kashmir. Which freedom you seek? The darkness of illiteracy, so that you keep on act as a ‘thing’ propagandize. Our economic corridors are fallen, no tourism anymore, hotels are unoccupied. What to gain out of that freedom? Hunger, lack of opportunity to grow together as an affluent hub.
Being a state-subject, I have the right to proclaim that the state of Jammu & Kashmir is one and only, whether it was governed earlier by the crown-head or the Republic of India. There is no question of freedom separately for Kashmir. Under no circumstance it is even possible whether to discuss strategically or practically. The idea of militancy has failed drastically and the “strategic partners” feel so miserable to act. Even a novice can understand why Pakistan support traitors and whose blood is lost. What they did (and keep on doing) in Balochistan is a heart-breaking lesson to learn.
We, the common people of Jammu and Kashmir want peace, prosperity, infrastructure, good education etc. This violence needs to end for the good of Kashmir and its people. Because stones cannot be eaten instead of food. No glory in dying for those who himself are wicked.
In our lifetime, we fail and we fail many times. Ironically, failure has been seen as a dead end instead of a step towards success. The more you fail, the more you learn; the more you learn, the more successful you will be. It’s not that we should fail then; it’s about we should never give up. Failure makes us tough, patient and to do the best we can with what we have. As Mary Pickford said,”There is always another chance…. This thing that we call ‘Failure’ is not the falling down, but the staying down”.
To produce a masterpiece, to create what will be acclaimed as greatest, to succeed; you have to fail, many times, to be original. That’s how Edison filed 1093 patents notwithstanding, the numbers of truly superlative achievements can be counted on fingers of one hand. 248 papers of Einstein have no or minimal importance before he wrote E = mc2
Timon Of Athens and All’s Well That Ends Well are known as worst plays ever produced; guess what, William Shakespeare produced them. The Chronicles of Narina, The Diary of Anne Frank, Gone with the Wind, Harry Potter, Lord of The Flies; were many times rejected before they get published.
Michael Jordan missed 9000 shots in his career, 24 game decisive shots, more than 300 games. “I failed over and over and over again, in my life, that’s why I succeed” he said.
This is how Abraham Lincoln in his life before he became the greatest president in the history of United States of America:
- 1816 His family was forced out of their home. He had to work to support them.
- 1818 His mother died.
- 1831 Failed in business.
- 1832 Ran for state legislature – lost.
- l832 Also lost his job – wanted to go to law school but couldn’t get in.
- 1833 Borrowed some money from a friend to begin a business and by the end of the year he was bankrupt. He spent the next 17 years of his life paying off this debt.
- 1834 Ran for state legislature again – won.
- 1835 Was engaged to be married, sweetheart died and his heart was broken.
- 1836 Had a total nervous breakdown and was in bed for six months.
- 1838 Sought to become speaker of the state legislature – defeated.
- 1840 Sought to become elector – defeated.
- 1843 Ran for Congress – lost.
- 1846 Ran for Congress again – this time he won – went to Washington and did a good job.
- 1848 Ran for re-election to Congress – lost.
- 1849 Sought the job of land officer in his home state – rejected.
- 1854 Ran for Senate of the United States – lost.
- 1856 Sought the Vice-Presidential nomination at his party’s national convention – get less than 100 votes.
- 1858 Ran for U.S. Senate again – again he lost.
- 1860 Elected president of the United States.
“Failure is an event, not a person. Yesterday ended last night.”
About one year ago, an anonymous source contacted Süddeutsche Zeitung (the largest subscription newspaper of Germany) to submit the stolen data of world’s fourth largest offshore law firm, Mossack Fonseca. Famously called as “Panama Papers” includes; 11.5 Million documents comprising e-mails, pdf files, photo files etc. This 2.6 Terabytes of data was researched and analyzed by Süddeutsche Zeitung in cooperation with International Consortium of Investigative Journalists (ICIJ).
What are the findings?
The data reveals that how rich people and companies avoid taxes by investing in offshore firms of tax-heaven countries like Panama. Apparently terror groups, mafias, drug & weapon dealers use such money to finance their activities. How civil wars in countries like Syria and other parts of the world are fed on it. Many influential people of the world are named in it and the list includes Russian President Vladimir Putin, Footballer Lionel Messi, Pakistani PM Nawaz Sharif, Indian actor Amitabh Bachchan and his daughter in law Aishwarya Rai Bachchan etc.
How Mossack Fonseca works?
Started by Jürgen Mossack & Ramón Fonseca Mora, the leaks reveal that it has acted for more than 300,000 companies. More than half of the companies are registered in British-administered tax havens. It has offices all over the world and has strong intermediately collaboration with various banks and asset management companies.
The business model of Mossack Fonseca is based on a simple principle: If someone wants to hide his money or its source, Mossack Fonseca helps to set an anonymous company. If required, it also provides a sham director for the company, thus hiding its true owner. The sham director can sign all the papers though things remain in control of its true owner. In this way the identity of true owner remains anonymous. These shell companies can buy stocks and invest into desired businesses in tax-heavens.
What Mossack Fonseca has to say?
On Monday, the firm has stated:
“Our industry is not particularly well understood by the public, and unfortunately this series of articles will only serve to deepen that confusion. The facts are these: while we may have been the victim of a data breach, nothing we’ve seen in this illegally obtained cache of documents suggests we’ve done anything illegal, and that’s very much in keeping with the global reputation we’ve built over the past 40 years of doing business the right way, right here in Panama.
Obviously, no one likes to have their property stolen, and we intend to do whatever we can to ensure the guilty parties are brought to justice.
But in the meantime, our plan is to continue to serve our clients, stand behind our people, and support the local communities in which we have the privilege to work all over the world, just as we’ve done for nearly four decades.”
Past two years have changed every prospective of my definition about life. To lie broken and unconscious, waiting for last few breathes to pass away. I had one word in my soporose mind, “Mother! It’s my time to go & never to come back”. Let no-one inform that her son is about to disappear out of his bodily obligations.
The audacity of my loving younger brother, to hold the pen tight and writing in tears. He had put all his faith together to mend my broken face. 9 hours of everlasting wait was the longest of his life. How couldn’t miracles bound to happen? Death was powerless that day to cease me away.
When I woke up again, it was a different world. The man, who couldn’t sit even for a minute, was bound not to walk an inch. He couldn’t even speak to ask what has happened to him? who did all this, and why? Countlessly I prayed to die that day, and wrote on every paper. Pain had kissed its extremity beyond limits. I conversed in flawless tears, no expression was easy to pronounce my emotions.
Amidst all, God had different plans. The acceptance of my fate has reincarnated into the best I could offer back to life, in awe. I have decided to live, and never to give up. I have never felt before such a power within, the whole universe was certainly acting in synergy to unleash my eternal consciousness, in this way, I won the greatest battle of my life.
Perhaps, the bewilderment of living twice in a single life is the best thing happened to my existence.