THE REAL STRENGTH OF INDIA AS AN EMERGING MARKET LIES IN THE YOUNG POPULATION -PROF DHAR
Jammu: The Business School, University of Jammu incollaboration with NASMEI (North American Society for Marketing Education in India), organized a 2-days International Conference on “Strategic Marketing Initiatives in Emerging Markets”.
The conference began with the lighting of ceremonial lamp and recitation of auspicious Saraswati Vandana. Prof. Manoj Dhar, Vice Chancellor, University of Jammu, chief guest on the occasion congratulated The Business School for hosting the international conference and for inviting renowned speakers from industry and academia. In his Presidential remarks, he talked about the role of a teacher in making a subject interesting. Although not being an expert in management, he beautifully emphasized the disparity between the emerging markets and developed markets. He reiterated that the real strength of India as an emerging market lies in the young population to which India needs to capitalize upon. He quoted certain live examples from his field of Biotechnology that synched well with the concepts of management. He also appreciated Prof. Alka Sharma, Director, The Business School for putting in her best efforts for organizing the conference.
Prof. Vijay Mahajan, McCombs School of Business, The University of Texas, USA, in his key note address pointed out that there are two different worlds that co–exist together, one having much beyond just fully developed infrastructure and the other still struggling hard to access the most basic amenities like toilets. He elaborated the difference in per capita income of Indian States visa viz. States of America. As per the data shared during his presentation, the 86% of the world population is still struggling for most basic amenities. He stressed that it the high time for MNC to consider the unique aspirations of masses in emerging markets before looking at them as their investment destinations. He stressed upon the need to read literature on rural markets in emerging markets especially India and Africa while sharing the details of his contribution in the form of four books authored by him, viz. RISE, Africa Rising etc. He concluded with the importance and role of emerging economies like India, China and African nations where the economy is primarily consumer driven.
Prof. Arvind Rangaswamy, The Smeal College of Business, Penn State University, Pennsylavania, was the Guest of Honour. He provided an overview of NASMEI (North American Society for Marketing Education in India). He explained that it is an association of Indian academicians, in the field of management, settled in America, formed with an aim to give back to the Indian roots. He also highlighted the efforts of Prof. Mahajan in the formulation of NESMEI as he being one of the founding members. He extended his thanks the Director, The Business School for associating with NASMEI and said that he was looking forward for such associations in the coming years as well.
Prof. KeshavSharma, Dean Academic Affairs, University of Jammu and Conference Chairin his Inaugural address stressed upon the need of hosting conferences on the contemporary themes which deliver value to all stakeholders. He set the tone for the entire conference by briefing the audience about the concept of emerging markets and also elaborated on the strategies that are undertaken by the corporate in such markets. He emphasized the strategies that are being undertaken by the leading MNCs in such markets as well. He quoted examples of leading brands such as Zara, H&M, McDonald’s, Pedigree and Ebix to further explain the relevance of such strategies. He further added that the favorable consumer demographics and the rising disposable income are the key drivers of growth in the emerging markets.
Prof. Alka Sharma, Director, The Business School and the Conference Convener welcomed the esteemed guests, delegates, research scholars, students and staff members on the occasion. She informed that the conference is an endeavor to bring together all stakeholders including academicians, researchers, corporate, policy makers, scientists, entrepreneurs, students, civil society, rural change makers and interested individuals to one platform for sharing their experiences, ideas, viewpoints and collective intellect.She talked about the key achievements of The Business School and proudly shared that the institution is A++ accredited and appears among the Top 100 B Schools in India as per the recent NIRF rankings. She also highlighted the academic and placement initiatives taken up by the institution.
Souvenir and Journal Special Issues were released on the occasion. The inaugural session of International conference was coordinated by Dr. Komal Nagar and was concluded by vote of thanks by Prof. Vinay Chauhan, Conference Secretary.
The inaugural session was followed by a Plenary Session byProf. Arvind Ramgaswamy and Prof. Mithaleshwar Jha, IIM, Bengaluru. Two Technical Sessions were also held in which select paper presentations were made by the delegates.Dignitaries and delegates, faculty, research scholars and students were present at the occasion.