NATIONAL MARKETING SYMPOSIUM 2010

“THE CONSUMER RETENTION ROUTE TO ENHANCING ROMI”

“Loyalty cannot be blueprinted. It cannot be produced on an assembly line. In fact, it cannot be manufactured at all, for its origin is the human heart – the centre of self respect and human dignity. It is a force that will leap into being only when conditions are exactly right for it – and it is a force very sensitive to betrayal.” ~ Maurice Franks

Let us begin with a simple question: Who gives a bigger return on marketing investment – an existing consumer of your brand who must be retained for the possibility of a future repurchase; or an uninitiated user who expands your consumer base and gives you volumes?



THE THEME – NATIONAL MARKETING SYMPOSIUM 2010


“T he c onsumer ret ent ion rout e t o enhanc in g RO M I” – Understanding Brand Loyalty, Efficient Measurement of Return on Marketing Investment (ROMI) and Strategies for Consumer Retention; including low cost IMC techniques aimed at consumer retention to facilitate a greater ROMI. A brief description of the various sub-themes mentioned above is presented in the following paragraphs.

UNDERSTANDING BRAND LOYALTY


As advertising spends break records after records, rivals are leaving no stone unturned to pull your consumer away from you. Besides this, post the deregulation of the Indian economy in the 1990s, the entry of some of the biggest international players in the market has presented Consumer India with a plethora of options to choose from. As clichéd as it may sound, an understanding of the underlying factors that drive consumer loyalty is becoming increasingly important for organizations facing a competition which is stiffer than ever before.

MEASURING ROMI

ROMI – Return on Marketing Investments; is a metric used to measure the overall effectiveness of a marketing campaign to help marketers make better decisions about allocating future investments. ROMI precisely signifies profitability generated for every rupee spent on marketing activities. Some of the parameters that it takes into account are: product positioning (market share), profitability (contribution/
EBIDTA margin) and marketing philosophy and aggression (Selling & distribution).


STRATEGIES FOR CONSUMER RETENTION


A growing top line for an organisation today is not a function of an increasing consumer base alone. Consumer involvement of existing users through engagement, feedback, variants, extensions, upgrades, value addition and a unique experience has become a critical aspect for a year on year sales growth of all successful organisations. The word of mouth publicity which results from all these activities often helps in transforming brands from the ordinary to the iconic.




On August 12, 2010 at The National Marketing Symposium at IIFT; some of the best minds from the corporate world and some of the brightest students in the country will unravel the mind of the consumer who is already connected to a brand.

We welcome you to join us in this discovery.