Yes Bank wins AIMA High Performance Brand Award
Reliance Jio MD predicts digital tsunami with the coming of 4G
10 February 2015 : New Delhi:All India Management Association, the apex body of India’s management fraternity, presented the AIMA-RK Swamy High Performance Brand Award for 2014 to Rana Kapoor, Managing Director & CEO, Yes Bank at the 4th World Marketing Congress held in New Delhi today.
Yes Bank won the award for achieving tremendous growth and financial strength because of its brand strength during a difficult period for the banking industry. It won in a field of 38 prominent brands that made substantial contributions to the financial performance of the company. Yes Bank became the youngest brand to win the award, which has previously been won by SBI, LIC, Wipro, Amul and Apollo Tyres.
“It is a great honour for YES BANK to receive this coveted recognition from AIMA and RK Swamy BBDO. Since inception, YES BANK has established itself as a truly differentiated Financial Brand with a strong focus on the mission critical pillars of Creativity, Innovation and Responsible Banking. We continue to evolve into a ‘digital’ bank steadily with an uncompromising vision of Building the Best Quality Bank of the World in India by 2020,” said Kapoor.
Addressing the World Marketing Congress, Reliance Jio Infocomm Managing Director, Sandip Das said that a data tsunami was coming with the arrival of 4G bandwidth and digital technologies would allow asymmetrical competition. “Being big is no longer an insurance for a company as distribution and brands can be built overnight now,” he said. He predicted that the present focus on mobile phones would give way to humanized tech with sims and chips embedded in everything of daily use and even human bodies. “This is the age of miniaturization, digitization, virtualization and personalization,” he said.
Ajay Mehta, Managing Director, Nokia India Sales, pointed out that in the West, the introduction of 4G connectivity led to four times increase in the broadband usage. He predicted that India would be the second-largest smartphone market in the world by 2017 and by 2020, about 45% of phones in India would use 4G.
Hungama Digital Media Entertainment Managing Director & CEO, Neeraj Roy said that everything was getting app-ified, including televisions, cars and kitchen appliances. He gave the example of an app being developed by Hungama that would deliver recipes to microwave ovens. He predicted that videos would become the new language of communication after 4G bandwidth became available to businesses and consumers. “There will be big shift in advertising spend from linear communication to immersive experience and from ad impressions to consumer expression,” he said. He added that brand will increasingly have their own apps and will have to create own content and context in the digital world.
World Marketing Congress chair and CMD, RK Swamy BBDO, Sundar K Swamy said that new marketing variables were emerging in the digital age after half a century of the tradition 4P marketing. “The old variables are getting layered with new variables,” he said. He added that unlike the present practice of marketing communicating to one segment or the other, the new marketers would have to communicate with both the existing customers and the non-customers. “Loyalty to brands is diminishing and the leady bucket needs to be filled faster,” he said.
R S Sodhi, Managing Director, GCMMF (Amul), said that marketing was changing and communication was now a two-way street and the customer had become the custodian of the brand in place of the marketer. Amul was using social media for consumer engagement and brand promotion, particularly to get instant feedback on new products and new commercials, he said. “In the digital age, the speed of collecting market intelligence and responding to market conversation is crucial,” he said.World Marketing Congress also discussed the issues of converting social media into social commerce, marketing strategies for e-commerce, managing the data deluge and using technology to energize B2B marketing.
All India Management Association (AIMA) is the national apex body for management in India. Over the last five decades, AIMA has contributed immensely to the enhancement of management capability in the country.
AIMA has a broad base of 62 Local Management Associations including two cooperating LMAs abroad, with a membership crossing 30,000 in number. AIMA is a non-lobbying organisation, working closely with Industry, Government, Academia and students to further the cause of the management profession in India. AIMA is represented on the Boards of India's premier Business Institutions like Indian Institute of Management – IIMs. AIMA is also represented on Boards of Government bodies including the All India Council for Technical Education, National Board of Accreditation, National Productivity Council to name a few.
AIMA makes a salutary contribution to management learning and practice in the country by offering various services in the areas of testing, distance education, research, publications and management development programmes.
AIMA brings to the Indian managers, the best management practices and techniques through numerous foreign collaborations with professional bodies and institutions. AIMA is a member of the Asian Association of Management Organisations (AAMO) and works closely with several international management institutions like Robert H Smith School of Business at the University of Maryland, St Gallen Foundation etc. in organising international conferences and management development programmes. To know more, please log on to www.aima.in
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