INTEGRATED MARKETING COMMUNICATION A consumer’s perception of a company and/or its brand is a synthesis of bundles of messages through all sources

of brand or company contact. These messages could be of the following nature:         * Media advertisement Price Packaging design Direct marketing effort Publicity Sales promotion Websites Popular displays Stores from which it is sold

Objective of the IMC approach The objective of the IMC approach is to co-ordinate the company’s marketing and promotional activities to project a consistent and unified image to the marketplace. The Tools for Integrated Marketing Communication The tools that marketers commonly use to achieve their communication objectives are:  Advertising  Direct Marketing  Interactive/Internet Advertising  Sales Promotion  Publicity/Public Relations  Personal Selling ________________________________________________________________________ Coca Cola India launches Intgrated Marketing Communication for 2007 Coca-Cola, India’s largest beverage company continues its trend of creating the most powerful and appealing brand messaging for its consumers in the country. Having made “Thanda” synonymous with “Coca-Cola”, the company announced the launch of an intensive integrated marketing communication program for the summer of 2007. Based on the theme “Sabka Thanda Ek”, the campaign has been designed to build the Coca-Cola brand from its refreshment platform to a higher order of emotional benefit by establishing it as the universal choice which brings people together.

As part of the integrated communication plan, a range of initiatives including mass media advertising and leveraging the digital space like the internet are being rolled out. The new TV commercial to feature- who else but Aamir Khan, the Coca-Cola brand ambassador in an all new avatar. In the ad, Aamir appears as a no nonsense attendant traveling in a train, connecting consumers with Coca-Cola. The campaign has been conceptualized by the creative genius Prasoon Joshi, Chairman & National Creative Director of McCann Erickson. To extend the reach and appeal of the new summer campaign, the company also plans to leverage the internet by building and promoting online communities. The strategy includes leveraging the interactive destination for Coca-Cola consumers. To compliment, the entire brand messaging process, range of on the ground initiatives including road shows and contests across all key markets are also being rolled out. According to Venkatesh Kini, Vice President- Marketing, Coca-Cola India, "Over the years we have made ‘Thanda’ and refreshment synonymous with Coca-Cola. The new campaign ‘Sabka Thanda Ek’ strenghtens the universal appeal of the brand amongst consumers. It offers a higher order of emotional benefit of bringing people together. And who else to better communicate this message, but our brand ambassador Aamir Khan, in a never been seen appearance.” ________________________________________________________________________ Classification of Advertising Advertising to Consumer Markets National Advertising National advertising is done by large corporations on a nationwide basis. The media most commonly used are the national television programs and national print media. The goal of national advertising is 1. inform/remind consumers of company/ brand 2. Reinforce image/ create image 3. Create predisposition to purchase among consumers Retail/ Local Advertising Retail advertisement is done by retailers or local merchants Their objective is to increase or build up store traffic. The nature of this form of advertisement is directaction.

Emphasis is laid on specific patonage motives like :  Price  Hours of operation  Service  Atmosphere  Image Primary vs selective demand advertising Primary demand advertising is designed to stimulate demand for general product class/entire industry. Selective demand advertising is concerned with stimulating selective demand Primary demand advertising is often used to help a new product gain market acceptance.

Thomas Cook launches new National Advertising campaign for 100% Holdays
Thomas Cook India Ltd ,in 2006, announced the launch of a premium holidays brand - 100% Holidays. The new brand would offer international group holidays segment as well as for the customized individual holidays products. This is the first time in travel industry that a brand has been launched for a specific category. With 100% Holidays Thomas Cook India will strengthen its position in the outbound leisure travel business. The 100% holidays brand operates as a product brand under the corporate Thomas Cook India brand The international holiday travel market is growing rapidly at over 30% per annum. Thomas Cook has a strong and well-respected franchise in both the group escorted holidays segment as well as the individual customized holidays segment and is one of the largest players in the category. The business contributes approx. 25% of the revenue of Thomas Cook India Ltd. The brand was positioned as a premium holidays brand in this segment. Elaborating on the brand identity, Mr. Gautam Sharma, Head - Marketing, Thomas Cook India said, "The Thomas Cook holidays product is known for its quality and the premium holiday experiences it provides. Our research showed that customers felt that Thomas Cook holidays are superior in quality, fully loaded with well designed itineraries and inclusions and clear and transparent on their pricing. This customer feedback is perfectly captured in the brand identity of 100% Holidays" The name "100% Holidays" captures the consumer expectation of a complete and satisfying holiday experience and is designed to appeal to the discerning premium customer. The brand uses a striking blue and light blue stylized logo with the number 100 interlaced with a % sign and supported by the word holidays. The brand stands for quality, trust and honesty. The new brand identity has been designed by Dentsu Marcom, Thomas Cook India's advertising agency. The launch of the new brand was supported with a multimedia national advertising campaign featuring popular holiday destinations and the company's product offerings in the group escorted holidays segment. Interestingly the company had also planned a unique television campaign based on 100% theme.

Another highlight of the marketing campaign was - "Bid and Win" a unique live on air auction of 100 holiday packages to Hong Kong on television. This was the first time such a promotional concept is being seen in the industry. Viewers could bid for the 100 holiday packages to Hong Kong via SMS from their cell phones. The top 100 winning bids was updated on the television channel every few minutes. The top 100 bids at the close of the auction were declared to be the winners. The holiday packages were worth Rs. 35,000 each and bidding started from Rs. 5000 only.

Online Retailing in India-Need for primary and secondary demand advertising Reliance Retail and Future Group (Pantaloon) have decided to build up significant online channel to run parallel to their physical formats, adopting the highly successful online model of Wal-Mart. Online sales of Wal-Mart has been growing faster than sales of eBay and Amazon. This, therefore, is a clear warning signal to fledging online retailers in India. Given the muscle of Reliance and the hunger for growth of the Future Group, these players are aggresively setting up online channel to tap the fast growing e-commerce pie. Currently this market is worth around Rs 11 bn. and is expected to touch Rs 23 bn in the one year. Though a majority of this is accounted for travel and ticketing, the retail sale through these channels is doubling. While the Future Group is putting its weight behind futurebazaar, Reliance Retail is understood to have already set up a separate team to put in place the nuts and bolts for its e-commerce platform. According to industry analysts, players such as Fabmall and Rediff are also sprucing up their strategies in an effort to be ready when the onslaught happens. However, one critical element that the physical retail chains have to grapple with is how to establish the brand recall in the virtual world. Online retail chains have gone through this exercise over the past 5-6 years and they have a good recall. Reliance and Future need to figure this out and earlier the better for them. Fabmall’s CEO K Vaitheeswaran is not unduly worried over these plans. “More than competing with each other, we should figure out how to grow this pie. The internet penetration has to be first increased which is expected to reach 100 million in two years time. The industry is growing at 30-40 per cent year-on-year and there is huge potential for all of us.” One more aspect that is fuelling this growth is that the attitude of citizens have changed over the past five years. “Indians are now ready to pay a premium for the convenience of online commerce.

They are now accepting the various services offered on the Internet and the increasing penetration of broadband at homes also promises to bring in more revenues. We are sitting on a pure gold mine,” said an industry player. The entire online retailing industry would have primary demand advrtising on their priorty while the Reliance and the Future Group have to,in addition, stimulate brand recall through secondary emand advertising. Advertsing To Business And Professional Markets Business to business advertising It is targeted at individuals who buy/ influence and help to purchase Indian goods/ services for their companies. Professional advertising It is information that is published,displayed and distributed or used by a member of a community of service providers ,or on his hehalf. Lawyers, doctors, chartered accountants etc. are all called professional service providers.

The Ethics of professional advertising by Doctors The British Medical Council, the Australian Medical Association, the Canadian Medical Association and the American Medical Association Guidelines for Physicians permit advertising by physicians while the Indian Medical Association does not. In the West, in the 18th and 19th centuries, many practitioners were unlicensed and untrained quacks who often derived their incomes from exaggerated claims of efficacy of their treatments supported by "testimonials" from patients. When organized medicine evolved from guilds into professional societies in the late 19th and early 20th century, most imposed a ban on advertising of professional services as an integral part of professionalism. As the socio-political scene changed, in the United States, the American Medical Association's ban on advertising by physicians was successfully challenged in the U.S. Supreme Court in 1975. The U.S. Supreme Court held that such a restriction amounted to limiting freedom of (commercial) speech. The AMA subsequently revised its statutes. Today, so long as the advertisement does not contain any false or deceptive information, an American physician is free to advertise her or himself through any commercial or other form of public communication. However, certain restrictions still apply. To the extent that testimonials regarding a physician's skill or quality of professional services from patients who do not have a comprehensive access to the physician's practice are often misleading, such endorsements are not permitted. Ethical obligations to share medical knowledge and skills make it improbable that a physician is likely to have unique

skills or equipment. An advertisement that makes such a claim would be questioned. However, such a claim may be justifiable in a restricted geographic area. Claims regarding competence and quality of care supported by objective data are permissible. Information about doctors, their qualifications, fees and services they provide is of obvious value to the community. The Australian Medical Association's guidelines underscore this point: The Australian Medical Association (AMA) believes that a doctor's reputation and capacity to increase their practice should be based on good medical practice and appropriate provision of information about the medical services they offer. The AMA believes that all such information should: a. be demonstrably true in all respects; b. not be misleading, vulgar or sensational; c. maintain the decorum and dignity of the profession; d. not contain any testimonial or endorsement of clinical skills; e. not claim that one doctor is superior to others nor contain endorsements for any particular doctor; and f. avoid aggressive forms of competitive persuasion, such as those that prevail in commerce and industry. In accordance with the general guidelines detailed above, the chief purpose of any advertisement for a doctor's services should be to present information that is reasonably needed by any patient to make an informed decision about the appropriateness and availability of the medical services offered. The ban on advertising in India and relying strictly on word-of-mouth referrals or referrals from other physicians has had two other implications: (1) It favors the already established doctors, "the gray beards", against the new entrants to the field of medicine. This bias is entirely in keeping with the hierarchical nature of the English society that gave us our system of medicine. (2) Allowing other doctors to be gatekeepers to consultants has promoted fee splitting. A transparent well-publicised schedule of fees and services of a consultant may help put a stop to this practice.

Trade Advertising Trade advertising" refers to advertising in "trade" or industry publications, which focus on a single industry. There are thousands of "trade" magazines and newspapers that serve narrow or broad audiences, with titles like Advertising Age, Aviation Week, Computer Reseller News, and Internet Retailer -- usually several for every conceivable industry audience that's large enough to justify a publication.

Planning a Integrated Marketing Communication Program Review Marketing Plan Objectives  Examine overall marketing plan/ objectives  Role of advertising/promotion  Competitive analysis  Assess environmental influences Promotional Program Situation Analysis Internal analysis  Assessment of the firm’s promotional organisation and capabilities.  Review of firm’s previous promotional programs and results  Assessment of firm/ brand image and also the strengths/ weaknesses of its products and services External Analysis Customer analysis  Who buys our products/services?  Who makes the decision to buy?  Who influences the decision to buy?  What needs must be satisfied?  Why do the customers buy a specific brand?  Where do they go or look to buy the product/ service? Competitive analysis  Who are our direct or indirect competitors?  What key benefits/positionings are used by our competitors?  What is our position relative to competitors?  How big are the competitors’ advertising budget?  What message /media strategies are the competitors using? Environmental analysis  Any current trends that might affect promotional program?

Analysis of Communications Process  Analyse receiver’s response process  Analyse source,message and channel factors  Establish communication objectives often stated in terms of o Nature of message to be communicated o What specific communication effect is to be achieved

Communication objectives may include Creating awareness about products,their attributes and features Creating image Creating favourable attitudes, purchase intentions ________________________________________________________________________ Communication Objectives and Marketing Objectives-the Difference Building up brands in such a way that it connects with the consumers is able to create that special brand – customer bond that goes beyond immediate monetary gains. That is where the difference lies between communication objective and marketing objective. Marketing objective as the term suggests deals exclusively with marketing while communication objectives end result is not an immediate increase of sales but creating an identity, an face for the brand, that the customers will hopefully love and respect. The Case of Bajaj Bajaj Auto’s two wheelers had enjoyed market leadership till the late 80’s without any major threat of competition. It roped in millions of satisfied customers. It was the largest selling scooter in India. But things changed during the late 80’s, where Bajaj, especially Bajaj scooters faced competition from LML Vespa and Kinetic Honda. Both these competitors were claiming technological superiority of their products. Though Bajaj claimed ‘value for money for years, the new competition created a perception that Bajaj scooters were made of old technology that was now on its way out. However, in order to upgrade its technology, it needed time and resources. In the mean time, Bajaj Auto wanted to further consolidate its leadership status. Till Bajaj saw competition, their advertisements spoke about product features, sales figures and product ranges available, etc. The new competition forced Bajaj and its advertising agency - Lintas - to rework on their communication strategies. The assignment in front of the advertising agency was to take the brand ‘Bajaj scooters’ to a superior position without altering the already established brand equity of the product. The company and the agency shortlisted factors which has strong India-association, such as, Independence Day, sports (cricket), cinema and heritage. The company released a press campaign in 1990 with the theme ‘the great Indian spirit’. This was also prudently extended to the electronic media. The commercial depicted habits and behavioural aspects of a cross-section of the population comprising the length and breadth of India, such as Panjabis, Parsis, etc. Thus, the commercial was targeted at the emotions of the viewers with relation to the brand. For that commercials were first written in English and later translated in Hindi. The birth of ‘Hamara Bajaj’ took place with the Hindi translation. The company, promptly replaced ‘the great Indian spirit’, identifying the potential of ‘Hamara’. The term ‘Hamara’ encompasses the entire target audience consumer or not; it led to a strong association with India. Indians are proud to say ‘Hamara India’. Thus, ‘Hamara Bajaj’.

The theme ‘Hamara Bajaj’ not only helped the company to build its brands. But it also functioned indirectly as a motivator to all those associated with the company : the dealers, employees, suppliers... Bajaj, in the process of brand building, has also built national pride and enjoyed positive mileage as a result. This is one way for a brand to build an identity for itself. Bajaj had it not invested in revamping its communication policies it would have died out, because it really didn’t have the recourses to compete with companies like LML and Kinetic Honda whose technology undeniably much superior to that of Bajaj. So the only reason consumers persisted with Bajaj in spite of the fact that tilting the Chetak to the side for starting was a common joke,was because of brilliant communication strategies of Bajaj. The Case of Hindustan Times Mrinalini Gupta was a worried lady. As the Vice-President, Marketing, of Hindustan Times (HT), the Capital's largest selling newspaper, she faced a peculiar situation. The 70-year-old market leader was not particularly deterred when a competitor threatened its position. The issue here was that a chunk of its young readers perceived HT to be an `old fashioned' paper. "As it happens with a lot of heritage brands, somewhere consumers start to feel that it is an old fashioned brand. This is the problem HT faced too," she says. So, HT decided to go in for an image makeover. In came the ad agency. The brief given to them was simple: Position HT as a contemporary, dynamic, youthful and "smart" brand. The newspaper splashed the Live Smart campaign across different media. "The campaign helped us to build the brand image in the right direction," she says. Once the communication objective is specified, it is the guiding force in the development of :  Overall marketing communications strategy  Objectives for each promotional mix area Budget Determination Two questions are asked: 1. What will be the cost of the promotional program? 2. How will the budget be allocated? The budget for the programs is often tentative.

Developing the IMC program Decisions are taken on the role and importance of each promotional –mix element and co-ordinaton among them Each promotional-mix element has own objectives, budget and strategy.

The advertising program will include development of: Creative strategy Creative strategy determines the basic message/ appeal the advertiser wishes to convey. Creative Strategy must be backed by solid research into market trends and behaviour Media strategy Media strategy is the choice of which comunication channel to be used to deliver the message. ________________________________________________________________ ICICI Prudential-The Making of India’s No: 1 Private Life Insurer ICICI Prudential is a case study in the role of marketing in reshaping an industry. It highlights how an industry where “sell” and “push” were oft used words and consumer was nothing more than a file no., has changed to one where “consumer preference” and “consumer pull” rules the roost. Here’s a look at how ICICI Pru changed the rules of the game and emerged a leader in the process. Background: When the insurance sector was liberalized in 2000, the private players had to contend with a few issues. Ratio of premium to GDP was low: 1.3% of GDP was invested in insurance. Insurance penetration was at an abysmal 22% of the insurable population. Besides the above the private players were faced with: Attitudinal Barriers, Perception of insurance as a tax saving tool and lack of a consumer centric approach in service and product offerings. The Marketing Challenge facing ICICI Pru: The challenge therefore was to change established category drivers (death payment & tax saving) and to get the consumer to evaluate insurance on a more emotional platform (protection) rather than a mere rational decision (tax savings). The Campaign Objectives: A) Reposition the category in the consumer's mind. Influence the consumer to view it as a protection instrument and not a tax saving product alone. B) In the process, create differentiation for the ICICI Pru brand as a provider of social security and family protection. C) Achieve leadership status in saliency, image & product parameters. D) Build credibility and trust.

The Target Audience: Representing an ideal mix of medium to high net worth individuals: The consumers most disposed towards buying life insurance. Middle-aged professionals, primarily male, salaried and self employed, age group: 28 - 45 years, household income: Rs.20, 000 and above. Creative Strategy: The essence of the creative strategy: To get the consumer to re look at Insurance as a means to lead a worry free life and not as a necessary evil. To this effect the core brand insight highlighted was "As head of the family it's my responsibility to take care of my loved ones and protect them from the uncertainties of life", summed up in the advertising idea: ‘We cover you at every step in life (Suraksha… Zindagi ke har kadam par, as interpreted in Hindi ). ICICI Pru was positioned as an enabler of protection relevant to the needs of the life stage that you are in. At the core of the communications strategy was appropriating the generic category benefit (protection) through its greatest metaphor – Sindoor. The Creative execution: Television Commercial: Building image and creating a differential in the most creative and compelling manner. The creative execution heightened the emotional connect with the ICICI Pru brand Indian; satisfaction of knowing that one’s loved ones are protected. Symbolic representation of the protector of the family through situations showcasing various life stages and creating endearing imagery of protection and familial bonding.

Press: Gave the consumer a rational and tangible reason to buy insurance first and secondly from ICICI Prudential. The product specific advertising focussed on changing the prevalent perception about insurance and breaking a few myths: non- affordability, insurance not being good investment option and the myth that insurance was good only for tax saving. Other Communications: Other programs included direct mail, PR of communications campaign in press & TV, website marketing; and database generation through Bancassurance channels. Media Strategy: In a market likely to be cluttered, multiple touch points were used to reach the consumer. The role for each medium was envisaged. The TV medium was used to enhance the emotional link with the brand. Strategic use of 15 sec. edits facilitated high frequency

levels. In print, cost per response rather than cost per thousand as responses were measured in form of call-ins. Radio FM, Cinema, Internet were used to create a media multiplier effect. The results of communication efforts: Being no: 1 in awareness and saliency. Awareness: ICICI Pru showed a significant jump in awareness between Feb and Sept 2001. Image: Highest score among all Insurance players including LIC, on image parameters like safety, modernity, service, good returns etc. Intention to invest: Next only to LIC as per research (All Source: Research by ORG Marg). No. of calls and emails: There were 70,000 calls at the call center and 6582 emails in the year 2001. Sum up: In just over a year ICICI Pru has emerged as India’s no.: 1 Private Life Insurance Company with almost 50% market share of the private players. Has sold highest no. of policies both in volume and value. Major Milestone - Over 100000 policies on Mar 31, 2002. Monitoring, Evaluation and Control of IMC program At this stage, the management evaluates how well the communication program is achieving its comunication objectives and why. There are possible problems in the nature of the message and also in the media plan which acts as a feedback input to the planning process.

Participants in the IMC process The different categories of participants are: 1. Advertiser or Client: They have the product,service or causes to be marketed and they provide the funds that pay for the advertising and promotions. The following were India’s top advertisers in 2005 were: Hindustan Lever Ltd. Rs 400 Cr Maruti Suzuki Ltd. Rs. 111Cr Pepsi Rs. 103Cr LG Rs. 102 Cr Procter and Gamble Rs. 100 Cr Dabur Rs. 93Cr Bajaj Auto Rs. 91Cr Hero Honda Rs. 91Cr Nokia Rs. 88 Cr Paras Pharma Rs. 85 Cr

2. Advertising Agency This is an outside firm that specializes in the creation,production, and/or placement of the comunication message and that may provide other services to facilitate the marketing and promotions process. Many large advertisers retains the services of a number of agencies when they market a number of products.

The following are the leading Advertising agencies in India:  Ogilvy and Mather  McKann Ericsson  Lowe Lintas  JWT  Leo Burnett  Grey  FCB Ulka  Contract  Rediffusion DY & R  R K Swamy BBDO 3. Media Oganizations: The primary function of media organizations is to provide information or entertainment to their subscribers,viewers or readers but from the point of view of the promotion planner, the purpose of the media is to provide an environment for the firm’s marketing communication programs. 4. Specialist Marketing Communication Specialist organizations are of different categories:     Direct-response agencies Sales Promotion agencies Interactive Agencies Public Relation firms Organizing for Advertising Almost every business organization uses some form of marketing communication. However the way a company organizes for these efforts depends on several factors,including its size,the number of products it markets,the role of advertising and promotion in the marketing mix,the advertsing and promtion budget,and its marketing organizational structure. The Centralized System In many organizations, marketing activities are divided along functional lines with advertising placed along with other marketing function such as sales, marketing research,and product planning. The advertising manager is responsible for all promotional activities except sales. In some organizations, this individual is called the

Marketing Comunications Manager. In the most common example of a centralized system, the advertising manager controls the entire promotions operations including budgeting, coordinating, creation and production of advertisments,planning media schedules, monitoring and adminstering the sales promotion programs for all the company’s products or services. The Decentralized Brand Management System In a large organization with multiple divisions and many different products,it is very difficult to manage all the advertising,promotional and other functions throuh a centralized department. These types of companies generally have a decentralized system,with separate manufacturing,research and development,sales, and marketing department for various divisions,product lines or businesses. Many companies that use a decentralized system,such as HLL,P & G, assign each product or brand to a brand manager who is responsible for the total management of the brand,including planning,budgeting,sales,and profit performance. Under this system,the responsibilties and functions associated with advertising and promotions are transferred to the brand manager,who works closely with the outside advertising agency and other marketing communication specialists as they develop the promotional program. In a multiproduct company, each brand may have its own ad agency and may compete against other brands within the company. Some companies have an additiona layer of management above the brand managers to coordinate the efforts of all the brand managers handling a related group of products. This system-generally referred as a “category management system” includes category managers as well as brand and advertising managers. The category manager oversees management of the entire product category and focuses on the strategic goal of the various brands in order to build profits and market share. Consumer Decision Making A.Stages in the Consumer Decision Making Process Problem  Information Recognition Search Alternative Evaluation Purchase Decision Evaluation Postpurchas e

Motivation M


Attitude Formation



B. Relevant Internal psychological process

The Consumer Decision Making Process Problem Recognition: This occurs when the consumer perceives a need and becomes motivated to solve the problem. Problem recognition is caused by a difference the consumer’s ideal state and actual state. The source of problem recognition could be :  Out of Stock: Problem recognition occurs when consumers use their existing supply of a product and must replenish their stock. The purchase decision is ussually simple and routine and is often resolved by choosing a familiar brand or name to which the consuer feels familiar. Dissatisfaction: Problem recognition is created by the consumer’s dissatisfaction with the current state of affairs and/or the product or service being used. For example, a consumer may think her clothes are no longer stylish enough.Advertising may be used to help consumers recognize that they have a problem and/or need to make a purchase. New needs/wants: Changes in consumers’ lives often result in new needs and wants. For example, changes in one’s financial situation, employment status,or lifestyle may create new needs and trigger problem recognition. Related Products/Purchases: Problem recognition can also be stimulated by Purchase of a product. For example,the purchase of a new car may lead to the Purchase of accessories,such as car stereo system. Marketer-Induced Problem Recognition: Another cause of problem recognition is marketers’ actions that encourage consumers not to be content With their current state or situation.



Indian Banks try to understand the Indian consumer
UNDERSTANDING consumer behaviour is the key to success in the marketplace. Companies are constantly looking at customer behavioural patterns to predict future trends. Among the many tools is data analytics. Broadly speaking, data analytics can be described as the process of collecting, analysing and using data (related to demographic

information, past behaviour trends, etc) to better understand and predict the behaviour of existing and prospective customers for business decision-making. The common tools used to conduct data analytics range from simple cross tabulations and segmentation analysis to more sophisticated statistical methods such as multivariate and logistic regression, discriminant analysis and cluster analysis. In the last few years, optimisation tools and machine learning algorithms such as neural networks and genetic algorithms have also been used to perform advanced data analysis. The recent years have seen increased use of data analytics in driving business strategies across various industries. While the data analytics methods have been extensively used in FMCG, pharma and telecom companies, their mainstay has been the consumer finance industry. In India, it is common for major banks and financial services companies to use data analytics to better manage their credit card, housing, personal and auto loan and insurance portfolios. But why are businesses increasingly adopting the use of data analytics in their day-to-day working? Clearly because it allows these firms to predict the behaviour of existing and potential customers. Empowered with this information, firms are able to devise suitable strategies to better manage their respective businesses. .On the marketing side, the use of data analytics in the form of response models helps companies design and execute cross sell, up sell, deep sell and retention strategies. In the long run, creative use of past customer data through predictive modelling helps companies in building powerful and effective analytical CRM (customer relationship management) platforms.

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