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Noise, which is one of the top wearable brands in India, was established back in 2014. The company was co-founded by two brothers, Gaurav Khatri and Amit Khatri. They started off by selling smartphone covers and cases, then moved to wearables such as truly wireless earbuds, and smart watches, and then more recently launched Luna Ring and more. The aim was to create affordable, high-quality, wearable technology accessible to a broader audience. They identified a gap in the market for feature-rich wearables that didn't break the bank. Storyboard18 spoke to Gaurav Khatri, co-founder of Noise, to understand the decade-long journey so far and the road ahead for the company.

Edited excerpts. 

Tell us more about the highlights of the 10-year-old journey of the company.

It has been a beautiful journey. We have seen growth more than 100% year on year. We have seen the achievement of being the third-highest smart wearable brand in the world. 

You and Amit were doing completely different things before starting off Noise. You are a commercial pilot yourself. So how did you decide that this is the space that I want to be in?

I think the reason for loving the tech was also being a pilot. Pilots are always surrounded by the big machines and there's a new tech innovation that is happening there. And in the cockpit also, you see a lot of tech available there. So probably an attachment came from that.

I just did not thrive in my pilot career in the initial days. Probably I had no other way to build my career. It was just that e-commerce was booming and things were showing a positive response in India, and a new India was coming up. The generation was very, very different from how probably our parents or my older ones used to buy the products. So the idea was to now figure out the tech, which has not yet come in. Not only in India but worldwide also it has not been so big, which we feel that there is a potential that can become big in the coming time. So gadget was close to me, and fitness was close to Amit. And fortunately, we were just scrolling around with different, different gadgets every probably three months, six months, we were buying, trying, and then that's the reason probably we got into wearable as a space, earbuds as a space. But yeah, wearable did well for us, so we just continued that.

What were some of the initial challenges that you faced?

The most common challenge when you don't come from a background of tech, is probably hiring the right talent and also getting the right partners who work for you. When you work in the technology space, you need the right set of partners who work and create the product, who are ready to work on a smaller scale and someone who believes in you. People who believe into you, getting them motivated and getting them convinced is the biggest challenge, I would say, that was there for us. Beyond that, the rest of everything is more of an operational challenge. So, that's the journey.

Going forward, what are some of the products and innovations that we expect from Noise that you are most excited about?

There's a lot that is happening with the global giant Bose, you will see soon. But yes, a lot on AI, a lot on health.

What is your and Amit's ambition with Noise going forward?

So when we started, we used to just think about India as a market. Now we're trying to figure out a way how to make it, India's first brand to go global and make a bigger name there.

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Noise co-founder Gaurav Khatri reflects on 10 years of transforming wearable technology

In the latest episode of Media Dialogues with Storyboard18, Delshad Irani sits down with Shweta Jain, a prominent Chief Marketing Officer and one of India's most influential marketers.


Jain's career spans significant roles at Diageo, a major player in the alcoholic beverage industry, and now she serves as the Chief Marketing and Sales Officer at The Leela Group, a renowned name in hotels and hospitality. This episode focuses on the evolving role of forward-thinking CMOs.


Jain reflects on the unique opportunities presented to Indian brands today, noting, “We’re witnessing a once-in-a-lifetime moment where Indian brands are capturing global attention. This rare convergence of opportunity is something we haven’t seen in many years, and these years are all about seizing these moments and sharing our stories with the world.”


At The Leela Group, Jain and her team are harnessing these opportunities, especially around the festive season and emerging trends in leisure travel. She highlights how changing patterns in short breaks, longer indulgent holidays, and new travel occasions are shaping their marketing strategies, bringing together a blend of trends and energies for a dynamic approach to customer engagement.



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The Leela Group's Shweta Jain on seizing a once-in-a-lifetime opportunity for Indian brands

Note to viewers: Revised advisory issued on July 3 by MIB on Food & Health sector only with a provision of an annual declaration. 

The Ministry of Information and Broadcasting (MIB), On June 3, adhering to a Supreme Court directive, announced a new mandate requiring advertisers and ad agencies to submit a Self-Declaration Certificate (SDC) before any ad publication or broadcast. The initiative aims to curb misleading advertisements and protect consumers, but achieving this goal remains a significant challenge.


To delve into the impact of these measures on the advertising industry, Storyboard18's editor Delshad Irani spoke with Gowree Gokhale, Partner at Nishith Desai Associates; Lloyd Mathias, Business Strategist and Investor; Kazim Rizvi, Founding Director of The Dialogue; and Ahmed Aftab Naqvi, Global CEO and Co-Founder of Gozoop Group.


According to Mathias, there is a need for measures that penalise rogue advertisers without compromising freedom of expression. He proposed methods such as temporary bans on advertising for repeat offenders to ensure accountability and integrity in advertising practices.


“The government has kind of, put the onus or responsibility on advertisers, who, in turn, have pushed it to the agencies. And at the second level, they have also put the onus in a sense on broadcasters and media owners, saying, you guys are the second level of defence. However, the real problem is rogue advertisers who have made misleading claims and who have actually misled people, which possibly triggered this whole exercise in the first place. And, therefore, I think the onus has to shift in terms of how do you monitor rogue advertisers without creating a censorship issue,” Mathias stated.


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“I think the idea should be how do we reinforce integrity, and how do you penalise rogue advertisers? If someone has been an offender, I think there has to be a method where he or she gets penalised. If you've deliberately made a false claim, despite certification of which there are regulations in place, do you get banned from media, so to speak, so no advertiser registered in this country can take your communication for a six-month period? That will make advertisers far more cognisant about their responsibility to society. And like I said, there will always be rogue elements, like there is in any society. But I think the issue that needs to be resolved is at that end. What we have really done is right now just complicated the whole issue. At one level, we talk of the ease of doing business, I think this has just needlessly thrown open a can of worms," he added.


He also suggests a system of naming and shaming as a potential solution to enforce integrity within the industry.


Meanwhile, Ahmed Aftab Naqvi pointed to the self-regulatory frameworks of major digital advertising platforms like Google and Meta. These platforms enforce strict guidelines and penalise advertisers who violate them by blacklisting their accounts, which serves as a strong deterrent.


Naqvi suggested that adopting similar punitive measures, such as advertiser blacklisting, could effectively deter deceptive practices in traditional media.


Read More: <a href="https://www.storyboard18.com/how-it-works/relief-for-advertisers-as-mib-restricts-sdc-for-ads-to-food-and-health-sectors-only-36128.htm">Relief for advertisers as MIB restricts SDC for ads to food and health sectors only</a>

Experts urge govt to penalise rogue advertisers without curtailing free speech

Gaurav Munjal, the CEO of Unacademy recently shared what he feels were the reasons behind edtech company Biju’s’ downfall. Byju's was once the world's leading edtech unicorn and India's most valuable startup. Until its dramatic fall. 

Munjal, who is the co-founder of edtech firm Unacademy said said, “Byju failed because he didn’t listen to anyone. He put himself on a pedestal and stopped listening. Don’t do that. Never do that.”

Munjal shared some of his learnings on X, positioning Byju’s as an example of what could have been done differently. “Don’t listen to everyone but have people who can give you blunt feedback,” he said. 

Sharing his learnings before arriving on Byju’s, the CEO emphasised on the importance of understanding the business’s unit economics on day one itself. He shared that it’s the best thing one can do. 

<blockquote class="twitter-tweet">Byju failed because he didn’t listen to anyone. He put himself on a pedestal and stopped listening. Don’t do that. Never do that. Don’t listen to everyone but have people who can give you blunt feedback.&mdash; Gaurav Munjal (@gauravmunjal) <a href="https://twitter.com/gauravmunjal/status/1806402278427127821?ref_src=twsrc%5Etfw">June 27, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Munjal also shed light on the current investor landscape. "Some Investors are assets, some are liabilities. Trick is to figure out the ones who are assets and listen to them,” he said. 

He elaborated saying that not all investors provide equal value beyond their financial contributions. It is important for a founder to have the ability to take into account the advice given by beneficial investors. This can be the deciding factor of a startup’s success or failure, he said. 

There have been mutiple exits at Byju's over the past few months, from employees, to the CEO and other prominent board members. Additionally, founder Byju Raveendran too recently lost his billionaire status, as it was revealed that his net-worth plummeted from a staggering Rs. 17545 crore to Zero.

'Byju Raveendran put himself on a pedestal and stopped listening': Unacademy CEO Gaurav Munjal

The Podcast Pulse, a comprehensive report on podcast consumption in India developed by UNPAC Research (OPC) Pvt. Ltd. with the support of Ideabrew Studios, offers unprecedented insights into the evolving landscape of podcasting in India.

Despite the gradual adoption of podcasts into daily media consumption routines, a lack of comprehensive data on consumption patterns has hindered its recognition as a powerful platform for connecting with consumers.

India has surged to become the third-largest market for podcast listeners globally, yet only 12 percent of Indians are currently engaged, leaving a vast untapped audience waiting to be explored. The Podcast Pulse addresses this gap by offering actionable insights into consumer preferences, content choices, favored hosts, and preferred platforms.

The methodology behind The Podcast Pulse involved a meticulous blend of quantitative and qualitative research techniques. Engaging 2,170 individuals across 10 cities in India, including Mumbai, Delhi, Chennai, Bengaluru, Kolkata, Ahmedabad, Lucknow, Indore, Patna, and Jaipur, the report gauged awareness and listenership statistics. Additionally, detailed interviews with 1,800 active listeners provided invaluable insights into their behavior and preferences.

Key findings from the report include:

•       82 percent of respondents were initially unaware of podcasts, highlighting a significant opportunity for awareness-building efforts.

•       78 percent of consumers discovered podcasts less than a year ago, indicating a recent surge in interest.

•       Authenticity and vulnerability in podcast conversations are highly valued by listeners, fostering a deeper connection with hosts and content.

The report also explores consumption patterns, including weekday vs. weekend trends, preferred episode lengths, and the rise of regional language content. Regional podcasts are identified as a driving force in shaping the industry's future, offering audiences a more relatable and culturally resonant listening experience.

Furthermore, The Podcast Pulse profiles the Aware listener – detailing gender, occupation, age, and level of education – and conducts a deep dive into genre dynamics and explores the nuances between audio and video podcasts.  It charts the four stages of podcast enthusiasts’ journey, from their curious Exploration and Discovery phase to Advocacy as they actively promote and champion their favorite podcasts.

Sheetal Choksi, Director, UNPAC Research says, "We believe The Podcast Pulse is a game-changer, providing insights into India’s podcast consumption and offering a roadmap for creators and platforms to navigate the evolving preferences of Indian audiences, empowering industry professionals and stakeholders to unlock its full potential. As a podcaster myself, I experienced firsthand the challenges in accessing comprehensive data about our audience. Beyond some basic data, no one was able to answer questions like who was listening to podcasts, when, why certain genres did well, etc. This realization was the genesis of The Podcast Pulse – an earnest attempt to fill the void and provide actionable insights for the entire industry."

Aditya Kuber, CEO, Ideabrew Studios says, “At Ideabrew Studios, we are passionate about fostering innovation in audio storytelling. The Podcast Pulse not only showcases the immense potential of podcasts in India but also underscores the importance of diverse and authentic narratives in shaping the future of audio entertainment. This report will be a definitive look into podcast consumption data for advertising agencies, brands and everyone looking to meaningfully engage with a large audience.”



India third-largest market for podcast listeners globally; yet only 12 percent Indians currently engaged

GOZOOP HAWK, and online reputation management and customer support agency under the GOZOOP Group, has bagged the listening and digital response management duties for Amazon miniTV, a leading free entertainment service in India.


As part of the mandate, GOZOOP HAWK’s key responsibilities will include handling digital customer support, monitoring online brand chatter, amplifying positive stories, measuring sentiments, providing timely resolutions and deriving actionable business insights for the brand by understanding and tracking valuable web conversations to delight customers. 


Amazon miniTV offers a large library of popular web series, movies, reality shows, dubbed international content, in multiple genres like comedy, romance, slice of life, thriller and more.


Commenting on the partnership Aruna Daryanani, director and business head, Amazon miniTV said, “ORM is an important component of brand building and reputation management. With the right strategy, ideation and creative thinking we can further strengthen our brand presence. We are excited to partner with GOZOOP HAWK and look forward to their expertise to continue to raise the bar on customer experience.”


Commenting on the win, Premkumar Iyer, president, GOZOOP HAWK said, “HAWK has always demonstrated capability of delivering some of the most unconventional listening and online customer support solutions. This habit to push boundaries coupled with Amazon miniTV's disruptive approach towards the dynamic OTT space makes the relationship click. We have already done some stellar work e.g. during Amazon miniTV’s recent launch of dubbed K-dramas, we turned the whole response management strategy to Korean language generating shift in outreach. We look forward to doing more such unconventional work for them in times to come.”


GOZOOP HAWK bags listening and digital customer support mandate for Amazon miniTV

The marketing team within media giant Cox Media Group (CMG) claims it has the capability to listen to ambient conversations of consumers through embedded microphones in smartphones, smart TVs, and other devices to gather data and use it to target ads, according to a review of CMG marketing materials by 404 Media and details from a pitch given to an outside marketing professional. Called “Active Listening,” CMG claims the capability can identify potential customers “based on casual conversations in real time.”

The news signals that what a huge swath of the public has believed for years—that smartphones are listening to people in order to deliver ads—may finally be a reality in certain situations. Until now, there was no evidence that such a capability actually existed, but its myth permeated due to how sophisticated other ad tracking methods have become.

It is not immediately clear if the capability CMG is advertising and claims works is being used on devices in the market today, but the company notes it is “a marketing technique fit for the future. Available today.” 404 Media also found a representative of the company on LinkedIn explicitly asking interested parties to contact them about the product. One marketing professional pitched by CMG on the tech said a CMG representative explained the prices of the service to them.

“What would it mean for your business if you could target potential clients who are actively discussing their need for your services in their day-to-day conversations? No, it's not a Black Mirror episode—it's Voice Data, and CMG has the capabilities to use it to your business advantage,” CMG’s website reads.

The part of CMG advertising the capability is CMG Local Solutions. CMG itself is owned by Apollo Global Management and Cox Enterprises, which includes the ISP Cox Communications. CMG operates a wide array of local news television and radio stations.

With Active Listening, CMG claims to be able to “target your advertising to the EXACT people you are looking for.” The goal is to target potential clients or customers based on what they say in “their day to day conversations,” the website adds. Specifically, those could include:

Clients can “claim” a territory where they want to use CMG’s services, which are available in a 10 or 20 mile radius, the website says. After setup, “Active Listening begins and is analyzed via AI to detect pertinent conversations via smartphones, smart tvs and other devices,” the website adds. CMG also claims it installs a tracking pixel on its client’s website to monitor the return on investment (ROI).

With an audience created, CMG then delivers adverts to these people through streaming TV, streaming audio, display ads, YouTube, and Google and Bing search, the website says.

“The result? Unprecedented understanding of consumer behavior, so we can deliver personalized ads that make your target audience think: wow, they must be a mind reader,” another section of CMG’s website reads.

Claims about this capability raises obvious and immediate legal concerns; intercepting communications without proper consent can violate wiretapping laws. CMG’s website addresses this with a section that starts “We know what you are thinking…”

“Is this legal? YES- it is totally legal for phones and devices to listen to you. That's because consumers usually give consent when accepting terms and conditions of software updates or app downloads,” the website says.

Beyond CMG’s website, very little information is available about the capability, including how exactly the data is gathered, be that via a software development kit (SDK) bundled into apps, or via collection at another point. For its part, Apple does alert iPhone users when an app is accessing the device’s microphone with a small icon in the UI.

The marketing professional pitched by CMG told 404 Media that after a call with the company, they disabled microphone access on much of their own technology: “I immediately removed all my Amazon Echo devices and locked down microphone permissions on things like my phone as receiving confirmation they are doing things like this have confirmed my worst fears and I, for one, will not take part in it,” they said.

CMG says “the ROI is already impressive” and is actively soliciting potential customers, though. On LinkedIn, Chris Marxmiller, a senior sales consultant at CMG, invites people in his bio to “Ask me about our NEW product - ACTIVE LISTENING.” Marxmiller did not respond to a request for comment which asked for more information on the Active Listening product.

CMG lists a number of other companies as its partners and publishers. These include Amazon, Microsoft, and Google. Microsoft declined to comment. Google told 404 Media in a statement that “For years, Android has prevented apps from collecting audio  when they're not being actively used, and whenever an app activates a device’s microphone, there is a prominent icon displayed in the status bar.” Google did not answer 404 Media’s question in its statement.

Amazon said in a statement that “the advertising product being described would not be possible with Echo devices. We do not share voice recordings with third parties.”

CMG said in a statement that “CMG Local Solutions markets a wide range of advertising tools. Like other advertising companies, some of those tools include third-party vendor products powered by data sets sourced from users by various social media and other applications then packaged and resold to data servicers. Advertising data based on voice and other data is collected by these platforms and devices under the terms and conditions provided by those apps and accepted by their users, and can then be sold to third-party companies and converted into anonymized information for advertisers. This anonymized data then is resold by numerous advertising companies.”

“CMG businesses do not listen to any conversations or have access to anything beyond a third-party aggregated, anonymized and fully encrypted data set that can be used for ad placement. We regret any confusion and we are committed to ensuring our marketing is clear and transparent,” the statement added.

Cox Media Group claims to have capability to listen to ambient conversations of consumers for targeted ads

On June 1, 1945, Fritz Sennheiser, a German inventor and entrepreneur, founded the audio equipment manufacturing company that bears his name and went on to become a global brand. Today, Sennheiser has three business units: Pro Audio, Business Communication and Neumann.Berlin. 


In a conversation with Storyboard18, Andreas Sennheiser, the company’s chief executive officer, said, “The first thing is you have to hit a ‘need’. To not get complacent and to not be happy with what we've achieved, we have to keep listening to the customer and at the same time have a creative dissatisfaction with the status quo. So, the achievements of the past should always be seen as just the new standard. From there, we can iterate again.”


Edited excerpts:


Tell us more about Sennheiser’s India story.


We started bringing good audio to India in 2007. At the time, it was really hard to understand where the general public was with audio consumption. We found out that listening to music via headphones wasn’t a known principle. 


So, over the last 16 years, I think we've done quite well in developing the taste of enjoying music on the consumer side. For two years, we focused on the pro business only, along with business communication, and then our Neumann products also.


Particularly, in the last one-and-a-half years after the pandemic, we've seen very strong growth. On the live part, everyone wants to enjoy music, festivals, weddings and all kinds of corporate events. But on the business communication side, government, corporate and also higher education facilities are gearing up significantly for hybrid meetings, for remote lectures and also for a digital government.


Where do you see India in Sennheiser's growth map?


In the last two years, India has had one of the highest growth levels, with more than 50 percent annual growth.


As far as the general business globally is concerned, we could supply all our customers with products even during the pandemic. So, we were never really out of products.


From a product lens, what’s the focus? 


We have several focuses. There’s a general common focus that more and more of the technology that we’re using—it is highly advanced—is hidden behind very simple user interfaces. 


So, we want to make it as simple as possible, come up with seamless integration, plug and play with our installed business like ceiling microphones… This is so that an integrator, a consultant or the end user really doesn’t need to deal a lot with technology but actually can focus on the experience.



Many global CEOs are surprised by the way Indian consumers have evolved over the last few years. From a price-conscious market, we now are a value-conscious market. So, what are your observations and what is unique about Indian consumers?


Well, you just gave the right keywords. 


It has evolved from a price sensitive market of buying at the lowest possible level to now buying the highest possible value. So, with that, we are in an excellent position because we love competition. We love the direct comparison of our products with competitive products because usually this is when we win.


That's why value-based buying decisions are very much in our favour, because we provide superior audio quality. 


Globally, what are the trends in the audio space and do you see the adoption of those trends in India anytime soon? 


One of the big trends is that high–quality audio is being more and more appreciated. This is particularly when it comes to immersive audio and spatial audio. In the studios, we have more and more Atmos installations with our Neumann speakers. Also, on the playback side, we see a lot of venues now having full arrays of speakers for an immersive experience.


So, the whole appreciation for good audio has significantly increased over the last few years. At the same time, there’s also a strong trend of simplification of workflows. So, we try to focus on making the lives of our end users as simple as possible, particularly because there's also cost pressure on production, music production, news gathering etc. We want to give them the gear that they can operate with the least possible amount of people. 


What is the brand perception of Sennheiser? 


Sennheiser has a brand reputation of being extremely reliable, creating remarkable audio experience and being a highly innovative brand. 


The topmost factor is always reliability. In a meeting room, you don’t want to spend 20 minutes getting the system to work. An artist in front of 50,000 people, the only thing he or she can hold is a microphone, and that should not fail.


In terms of marketing, what are the big plans for India and what are the investments like? 

Our main investment is in people and education. So, it's people on our end and education on the customer side.

We see that the more there are highly talented technicians, audio engineers and people who know the difference between an okay system and a great system.

During the pandemic, we produced 200 tutorial videos: how to use our microphones, how to set up gear in general, and how to build a studio. A lot of things to just help the audio community do a better job.


In India, startups have been weaving a very different story in the last few years. As a family-owned company and one of the oldest startups in the audio space, do tell us what it takes to make a successful business and your advice for startups here. 

The first thing is you have to hit a ‘need’. This is not only true in a startup, but also when a company like ours gets older. Now, we’re closer to the 80th year of our existence. To not get complacent and to not be happy with what we've achieved, we have to keep listening to the customer and at the same time have a creative dissatisfaction with the status quo.

So, the achievements of the past should always be seen as just the new standard. From there, we can iterate again. 

There are a bunch of profitable startups in the audio space here in India. What impresses you about them and are there any lessons that you can pick from them? 

When startups have a platform economy in mind and then scale that up, they can very quickly cover a very broad demand, be it with fintech platforms or be it any other integration.


That is an approach that I find highly attractive because it's not product and gear oriented, but really platform oriented. And this is also a strategy that we're adopting more and more. We are not just selling gear to our customers, but we actually provide the control platform with it to make it as easy as possible. 


That has been a strategy for a couple of years—to have a lot of allies in the industry in order to allow a seamless integration for the end user. So, the platform is really the main focus. And, what we're selling in terms of gear is just an endpoint to the whole platform.

Has the target audience of Sennheiser evolved over time? 

Yes and no. Our target audience grows with us.

While there was an entry target audience a decade back that has now matured in age and in income, they are now being lifted to the next level.

I had a chance to meet with music composer duo Salim-Sulaiman. We had a chat about technology particularly, and they stressed upon how they started with simple gear and then moved to higher-grade gear.

Andreas Sennheiser: We have to keep listening to the customer and have a creative dissatisfaction with the status quo

Gen Z consumers are 50 percent more likely to take their friends' recommendation over an influencer or a celebrity when making a purchase decision, revealed a study from Yuvaa – the Indian Gen Z-driven youth media, impact, and research organization.

An Economic Times report states that the findings are based on a report titled 'Not All Gen Z'. The findings are based on responses from over 900 Gen Z participants, spanning over 20 cities across tier I, II, and III cities and towns of the country. Gen Z represents people born between 1997 and 2012 who show distinctive behavior in their lifestyle and shopping habits. At over two billion, Gen Z forms roughly 25 percent of the global population. It makes up for over 35 percent of India's population, according to Yuvaa.

Their estimated spending power is in excess of €235 billion, according to BCG. 

Influencers provide brand visibility

Karthik Srinivasan, a communications strategy consultant, believes that we trust the references and recommendations of the people we trust the most within our family or friends circle. However, influencers have a different role to play.

"They have come to usurp the role of mainstream media and advertising to a large extent and have become predictable sources of visibility more than influence. In other words, influencers (along with mainstream media and advertising) are sources of introducing products or services, use-cases, and giving them visibility, but they may not necessarily persuade people to make the purchase. That's where friends and family (known peers, colleagues too) would come into play," he explains.

Srinivasan tells Storyboard18 that influencers are merely shilling a product for a fee and have long stopped pretending to be actual users of a product to offer use-based/experience-based content/information.

"Even if they claim to offer personal experience-based recommendations, if viewers/followers see the disclaimer about paid content, they'd automatically discount that factor and take that recommendation with a pinch of salt," he adds.

Yuvaa's report findings also highlight a few key aspects of a Gen Z consumer who is not only willing to support brands that support social causes but also cares about sustainability. Around 63 percent of Gen Z shoppers surveyed said they prefer brands that support social causes. 

71 percent of Gen Z prioritize brands that are environment-friendly, and 77 percent consider price when buying something, even if it's not sustainable. Gen Zs are split equally between feminist and non-feminist brands, but 60 percent of women prefer them.

<a href="https://www.storyboard18.com/quantum-brief/amazon-vs-myntra-who-will-win-over-more-gen-z-shoppers-in-india-8247.htm">Read more: Amazon vs Myntra: Who will win over more Gen Z shoppers in India?</a>

E-com platforms chasing Gen Z

These trends are being closely followed and implemented in product and marketing strategies by e-commerce platforms in India. Storyboard18 reported that there has been intense competition between online retailers to woo the next generation of shoppers, with e-commerce platforms Amazon and Myntra actively investing in the Gen Z cohort.

Flipkart-backed fashion portal Myntra, for instance, announced the launch of FWD, an in-platform experience offering additional brands and styles curated for Gen-Z shoppers.

The move comes days after rival Amazon Fashion introduced the ‘Next Gen Store,’ catering to the unique needs of Gen Z shoppers, who seek to experiment with fashion and have varying preferences in terms of styles, sizes, brands, and fitting.

While Nykaa Fashion has not yet launched a dedicated platform for Gen Z shoppers, it has been onboarding brands that target this cohort. Recently, it added MIXT, which offers streetwear-inspired modern apparel options such as bodysuits, corsets, jumpsuits, jackets, cardigans, and footwear. It brought in Cider, a US-based label, expanding its global offerings to Indian consumers.

Gen Z segment has a distinct aesthetic that impacts their brand choices, which have been driving fashion trends – crop tops, ribbed dresses, chunky sneakers, and baggy jeans.

Unlike previous generations, which were heavily influenced by Bollywood and sports celebrities, Gen Z shoppers are more picky about who they follow. Social media influencers have emerged as a significant force in shaping their purchase decisions.

However, there is a catch. This group only follows influencers or celebrities who ‘walk the talk’ and are more trustworthy.

Value for sustainability, inclusivity

Bindiya Bhatt, senior director of category management at Myntra told Storyboard18 that for Gen Z, inclusivity, authenticity, and unconventionalism take centre stage as well.

"By embracing these values and catering to their specific needs, businesses can create more meaningful and impactful experiences that resonate with this important and influential demographic," she said.

Technopak Advisors' Ankur Bisen had a deeper insight, saying Gen Z shoppers are community-driven and seek better products rather than stay loyal to brands.

"...they are definitely seeking better products than brands and they are also looking at the consumption of fashion through communities. For example, there are communities towards gaming, nature, and even limited edition products. The spin-off from this trend could be the 'sneaker culture' in India and the craze to buy limited edition sneakers that are being sold online. These are some micro trends that one needs to notice," he said.

Influencers’ influence waning? GenZ listen to friends over social media influencers

Why PepsiCo India’s Lay's launched gourmet chips

In a chat with Storyboard18's Shibani Gharat, Shailesh Chandra, Managing Director of Tata Motors, Passenger Vehicles and Electric Vehicle Mobility talks about expectations from 2024, what challenges lie ahead, bifurcating the ICE and EV business and being the largest electric passenger vehicle manufacturer in the country what are their plans with the EV business. 

Listen in. 


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Inflation has impacted entry-level segment: Tata Motors' Shailesh Chandra

Shailesh Chandra, Managing Director of the Passenger Vehicle Division at Tata Motors, discusses how inflation and interest rates have affected the entry-level car segment. He anticipates a slowdown in growth momentum for 2024.

With improving consumer sentiment, this year GroupM anticipates significant growth across various media channels during the festive season. TV and Print are expected to grow at high single digits, driven by investments in non-fiction programming on TV and impactful formats in Print. 

This festive season, out-of-Home (OOH) advertising will also see healthy double-digit growth, driven by increased mobility and outdoor activities during the festive season. "The key drivers behind this growth include improved consumer sentiment, increased disposable income, and the desire to celebrate and spend during the festive period. Digital media, with its ability to offer precise targeting and measurable outcomes, is likely to receive the most significant share of the budgets, followed by TV, Print, and OOH," states Ashwin Padmanabhan, Chief Operating Officer, GroupM, South Asia.

In a chat with Storyboard18, Ashwin Padmanabhan, Chief Operating Officer, GroupM, South Asia discusses how advertisers are allocating festive ad budgets across different platforms during this festive season, the best return on investment between news channels and General Entertainment Channels (GECs) and more. 

Edited excerpts:

Given the increasing fragmentation of media consumption, how are advertisers allocating festive ad budget across different platforms?

Our planning process and the choice of media and platforms are driven by the media and business outcomes we need to achieve for our clients. This involves understanding the audiences we want to reach and the actions we want them to take. Given the need to break through the clutter and drive meaningful actions, we see a strategic mix of investments across various platforms. Traditional impact media like TV and Print continue to play a crucial role, especially for broad reach and brand building. TV, with its high-impact non-fiction programming, and Print, with its credibility and reach, are essential for creating a strong brand presence.

On the other hand, digital media is indispensable for both branding and driving direct actions. Digital platforms offer precise targeting and measurable outcomes, making them ideal for engaging with specific audience segments. Social media, search engines, and programmatic advertising are key components of our digital strategy. Additionally, the rise of Connected TV (CTV) and Over-The-Top (OTT) platforms provides new opportunities for advertisers to reach audiences who are increasingly consuming content online. By leveraging a combination of traditional and digital media, we ensure a comprehensive approach that maximizes reach and engagement.

Can you share estimations of growth in digital, CTV, Print, OTT growth during the festive season. What are the key drivers behind this growth? Which media channels will get the most budgets?

With improving consumer sentiment, we anticipate significant growth across various media channels during the festive season. TV and Print are expected to grow at high single digits, driven by investments in non-fiction programming on TV and impactful formats in Print. These traditional media continue to be effective for broad reach and brand building, especially during festive times when consumers are more receptive to advertising.

CTV and OTT platforms are poised for substantial growth, benefiting from the increasing popularity of non-fiction programming and the launch of new shows. The convenience and flexibility of these platforms make them attractive to both viewers and advertisers. Overall, we expect digital media to grow between 15-20% this festive season. The short window of the festive period means that the intensity of spends will be higher, with advertisers looking to make the most of this peak consumption time.

When comparing news channels and General Entertainment Channels (GECs), which platform has seen a higher increase in ad rates for the festive season? Which one is the best bet for advertisers?

We are observing an increasing demand for GECs, which has led to some amount of price hardening. GECs offer a diverse range of content that appeals to a broad audience, making them highly attractive to advertisers looking to reach a wide demographic. The festive season often sees a surge in viewership for GECs due to special programming, festive shows, and family-oriented content. News channels, while are still important, the demand for news channels tends to be more stable, driven by the need for timely and relevant information. However, during the festive season, the entertainment value and mass appeal of GECs make them a better bet for advertisers looking to maximize their reach and impact.

For advertisers, GECs provide an excellent opportunity to connect with a diverse and engaged audience. The festive programming and special shows create a conducive environment for brand messaging, making GECs a preferred choice for many advertisers during this period.

What are the emerging trends and innovative strategies that advertisers are adopting in their media planning for the festive season?

Brands are increasingly adopting an omnichannel approach to engage and connect with consumers, reflecting in our media planning strategies. This approach ensures that brands can reach their target audience across multiple touchpoints, creating a seamless and integrated experience.

Interactive ads, such as shoppable videos and augmented reality, are gaining popularity for their immersive engagement, while influencer marketing helps brands reach niche audiences with authentic messages. The rise of programmatic advertising allows for real-time bidding and precise targeting, ensuring ads reach the right audience at the right time. Additionally, with growing consumer awareness about sustainability, brands are incorporating eco-friendly messages and practices into their campaigns, resonating with conscious consumers. By leveraging data and analytics to deliver personalized content and offers, brands can create more relevant, impactful, engaging, and memorable experiences that resonate with consumers during the festive season.

Out-of-Home (OOH) advertising will also see healthy double-digit growth, driven by increased mobility and outdoor activities during the festive season. The key drivers behind this growth include improved consumer sentiment, increased disposable income, and the desire to celebrate and spend during the festive period. Digital media, with its ability to offer precise targeting and measurable outcomes, is likely to receive the most significant share of the budgets, followed by TV, Print, and OOH.

GroupM predicts record festive growth for TV, Digital and OOH

According to McDonald’s India (W&S) CMO Arvind R P, the past decade has been all about digital, which has meant a proliferation of platforms and has helped marketers in more ways than one can imagine. But along with that has come an over-emphasis on performance marketing, which he cautions against. 


Instead, he says, one should not forget the principles of successful brand marketing, for there’s simply no better way to build brands and businesses other than broad reach campaigns with emotion and rich storytelling. "This is the only long-term and sustainable way of building brands and businesses," he adds. 


Arvind devotes a part of his weekends towards upgrading his knowledge of marketing. Apart from reading books and listening to podcasts over the weekend, Arvind also catches up on papers published by Australia’s Ehrenberg-Bass Institute.


“The others who I follow a lot and read regularly are Les Binet and Orlando Wood, who have written extensively on marketing and advertising,” Arvind said, during an interview with Storyboard 18. 


Edited excerpts:


In your free time, what kind of marketing-related content do you consume? 


I keep some time on Sundays to catch up on the latest in marketing. One of the areas I focus on is the work done by Australia’s Ehrenberg-Bass Institute. I try to catch up on the papers that they publish. I'm a big advocate of evidence-based, as opposed to theory-based, marketing. 


The others who I follow a lot and read regularly are Les Binet and Orlando Wood, who have written extensively on marketing and advertising. For me, it’s a mix of reading books and listening to audiobooks and podcasts.


Where do you get your social media fix from? 


I largely get it from X (formerly Twitter) and Instagram. I use X for news and to understand what's going on in the world. I depend on Instagram for interesting content from influencers, etc.


What were the last five videos you viewed on any social platform? 


In the last few days, there are two songs in particular I have listened to. One is Tauba Tauba from the film Bad Newz. And a Tamil song called Kasu Panam.


I follow James Hoffmann, barista and YouTuber, for various coffee hacks. Hoffmann is a coffee expert and I catch up on how to brew the perfect coffee at home, how to best use a moka pot, etc.


I love ghazals and listen to them regularly, especially Jagjit Singh. Over the weekends, I try to watch content on YouTube from political thinkers like Pratap Bhanu Mehta, philosophers, etc.


Who are your favourite creators and what draws you to them? 


When I was a kid, I used to watch a lot of Superman and characters from Marvel. Then I lost interest. But one creator and story I remained interested in was the whole world of Star Wars. The depth of the characters and the way the story is told makes it immensely watchable, regardless of age. 


What is your sport or fitness routine all about? 


Many years back, I used to walk every day. But for the past few years, it's been all about gyming. Even while traveling, I try to make it to the gym. When I'm doing cardio, I'm able to catch up on some audiobooks and podcasts.


What are your weekends like?


My weekends are full of lazing around. But my ideal weekend would be me and my family going out to either see a movie or dine at some restaurant that we’ve planned ahead for. Recently, my family and I were at Masque restaurant in Mumbai, and we really loved it.


My gym routine remains unbroken even on weekends. Then there’s streaming movies, serials, etc.


Any work or life hack you swear by? 


For me, it's all about living your passion. As long as you're living your passion, that keeps you going. For example, one of my passions is formal learning for myself and my team. Sometimes I conduct a session, sometimes I get somebody from outside the firm to conduct one. 


What are you reading? Any recommendations? 


In the last few weeks, one of the most fascinating books I have read is The Tyranny of Merit, by Michael J. Sandel. He's a Professor of Philosophy at Harvard.


He's written many books on the tyranny of merit and how meritorious people have such hubris that they look down on those who are not as successful. One might feel one has arrived in life, but one should have empathy, treat people with respect.


I'm also reading a book on Buddhism, Dust on the Throne: The Search for Buddhism in Modern India, by Douglas Ober. He's written about the evolution of Buddhism in India over centuries, especially the last one. 

 
The book I’ve just finished is Better Brand Health: Measure and Metrics for How Brands Grow Old, by Jenni Romaniuk, a Professor at the Ehrenberg-Bass Institute. Her book is on consumer research, how one typically does consumer research, what are the pitfalls, and how one can improve. 


What's your advice to avoid personal and professional burnout? 


Live your passions. At work, as long as you are able to identify your passions, what keeps you going, you should be fine.


A piece of professional wisdom you would like to share with next gen marketers? 


In the past decade, everything has been about digital. And digital has helped marketers in more ways than one can imagine. Digital means a proliferation of various platforms.


But in digital, there's an over-emphasis on performance marketing, and my biggest advice to the new generation of marketers is not to forget the principles of successful brand marketing. There’s no better way to build brands and businesses other than broad reach campaigns with emotion and rich storytelling. This is the only long-term and sustainable way of building brands and businesses. 


What's the best advice you have got in life? 


I started my career at TVS Motor Company. My mentor there gave me two pieces of advice at different points in time and I still remember them. The first was on diversity. He always talked about how he's got different thought processes going on in his team, that he always got feedback from different perspectives, which he considered before making a decision.


I find that quite invaluable and try to replicate it. When one thinks of diversity, one just thinks of gender, but there’s also diversity in terms of people from different parts of India, or people with different skill sets. Someone thinks from an analytical perspective, someone thinks from a brand perspective, etc. Diversity of thought is crucial. It enriches discussions and helps one arrive at better decisions.

 
The second advice he gave was not to give up easily. That came at a different stage in my life, when I was going through challenging times.


Read More: <a href="https://www.storyboard18.com/brand-makers/enjoy-what-you-do-and-who-you-work-with-lance-bennett-mercedes-benz-india-40463.htm">You will never win by focusing on the rearview mirror: Lance Bennett, Mercedes-Benz India</a>

Digital has brought an over-emphasis on performance marketing: Arvind R P, McDonald’s India

The OTT streaming market in India reached a new milestone last year, with around 707 million internet users actively engaging with OTT audio and video services, according to the ‘Internet in India’ Report 2023. Accessible high-speed internet, rapidly increasing internet users and widespread adoption of digital payments fuelled the demand for these already existing OTT platforms in India.

hoichoi, a subscription-based OTT platform focussing on Bengali content, was launched in 2017 by SVF Entertainment. Co-founded by Shrikant Mohta, Mahendra Soni, and Vishnu Mohta, the platform hosts over 600 Bengali movies, 150+ original web series, short films, and documentaries.

hoichoi has approximately 13 million subscribers in over 100 countries. It aimed for a 50-75 percent revenue increase in FY23, with about 40 percent of its direct revenue coming from international markets. The company has partnerships with Vodafone and smart TV brands such as Samsung, Amazon Fire Stick and Roku.

"hoichoi is India's first language OTT platform, operating in Bengali which has a huge addressable market in not only India but internationally as well. Despite a post-COVID market correction, we continue to experience growth, with a current year-over-year increase of 50 percent. Our sustained success can be attributed to a sustainable business model built on limited funding, says Soumya Mukherjee, Chief Operating Officer, hoichoi (India & Bangladesh).

"Internationally, our monthly retention rate exceeds 82 percent, demonstrating strong user loyalty. In India, where the payment ecosystem is less mature, we measure retention based on the percentage of users who renew their subscriptions within six months. Our goal is to retain approximately 60 percent of our Indian user base," adds Mukherjee.

While West Bengal remains hoichoi's core market, over 45 percent of our users come from other regions of India. "Internationally, although our subscriber base may be smaller, it contributes significantly to our direct revenue due to the global spread of Bengali communities," he states.

hoichoi's priority markets include the US, UK, Australia, and Canada, followed by regions like Malaysia and the Middle East, which are experiencing rapid growth.

What makes hoichoi thrive is the high completion rates of its shows and franchises, often reaching 80 percent. "We define binge-watching success as 65-75 percent of users completing a show, and most of our top shows fall within this range," says Mukherjee.

hoichoi's franchise characters are key to driving viewership. Social dramas and detective series are among its top-performing genres, while the platform also explores niches like mytho-horror, and crime.

In addition to direct subscription revenue, hoichoi has diversified its revenue streams through bundling partnerships and initiatives, such as Hindi dubbing of its Bengali shows. Mukherjee points out that hoichoi's extensive original content catalogue, including Hindi-dubbed versions, has contributed significantly to its revenue, especially in the Hindi market.

"While hoichoi does not have traditional ads on its platform, we work with branded content to create tailored content that resonates with our premium Bengali user base. This strategy has led to a 200 percent increase in advertising revenue compared to the previous year," states Mukherjee while addressing hoichoi's ad spends.

"hoichoi's average revenue per user is not the sole metric we consider. We also focus on customer lifetime value, which exceeds 2,500, a substantial amount compared to industry standards," he says.

Although hoichoi primarily caters to the 30+ demographic, the 50+ segment has shown the most significant growth. In terms of gender, Hoichoi's audience is more balanced with a male-to-female ratio of 60:40, compared to the industry average of 80:20.

While addressing what makes hoichoi stand out in the OTT market, Mukherjee emphasizes that hoichoi's competitive advantage lies in producing over 160 original shows in Bengali and securing premium theatrical movies. hoichoi is also exploring new content formats to stay ahead in the evolving OTT market.

Read More:<a href="https://www.storyboard18.com/brand-marketing/meghalayas-bah-paul-on-how-the-states-first-ott-platform-hello-meghalaya-empowers-local-creators-36989.htm">Meghalaya's Bah Paul on carving space for the state's OTT platform Hello Meghalaya amidst streaming giants</a>

hoichoi achieves 60:40 gender balance; 200 percent ad revenue growth

Jockey’s ‘Freedom or Nothing’ campaign in collaboration with Wieden+Kennedy reflects the younger generation’s perception of freedom in life, The innerwear brand's current market penetration is around 17-18% for men’s innerwear and 6-8% for women’s innerwear with metro cities witnessing the most demand. Typically Jockey spends 3.5 to 4.5% of its revenue on advertising. The plans for this year are also in the same range, according to Nihal Rajan, CMO, Page Industries.

While addressing ways to increase market penetration, Rajan shared, "Currently, there is emphasis on expansion of Jockey Exclusive Stores nationwide, coupled with a robust enhancement of our distribution network. We are dedicating substantial time and resources to fortify our online sales channels including marketplaces and diving into Q-commerce, ensuring a seamless and comprehensive market presence."

Rajan also delved into how Jockey is developing a range of products that aren't just fleeting trends or seasonal fads, the significance of merging cricket with fashion and more. 

Edited excerpts:

How does "Freedom or Nothing" embody the spirit of individuality and self-expression beyond the workplace?

While "Freedom or Nothing" initially focused on the workplace, its message today extends far beyond the workplace. 

The narrative explores the idea about having the freedom to be authentic at any point in time. Given that our younger audience values authenticity and freedom of expression without constraints, Freedom or Nothing was an attempt to resonate with them and align Jockey's product range with this philosophy, offering comfort, confidence and the ability to be who you are. 

Young consumers today are increasingly conscious of social responsibilities. Given that, how does Jockey connect with those values?

As a brand and also as an organization, we are very mindful of the fact that not only the young consumer but also the larger and wider audience today seem to be a lot more socially and environmentally responsible, and also very aware of what is happening around them.

At Jockey and Page, we have also led that same philosophy across our partners, facilities, and workspaces. Wherever we are, there is 100% implementation of the right policies across different levels.

Jockey is not only invested in using eco-friendly substrates and materials but also in implementing eco-friendly processes and involved in multiple activities that positively influence our social fabric as well.

I feel the connection that we are building with the consumer will only get better because they have a wider awareness about the impact that each of the brands, especially fashion, is having on the environment.

How is Jockey expanding its offerings to cater to this evolving demand while staying true to its core brand identity at the same time?

We look at both authenticity and comfort. Based on consumer feedback, we have noticed an increasing demand for versatility. While our range of innerwear delivers comfort and experience, Move by Jockey focuses more on athleisure. We also offer a range of adaptable everyday clothing that elevates the essentials. We are continuously developing a range of products that address consumers' needs and aren't just fleeting trends or seasonal fads.

The campaign during the T20 World Cup seemed to be a strategic move. Could you discuss the significance of this placement and the multimedia campaign approach?

All of us know that cricket moves the nation. Therefore, in that sense, there couldn't have been a better event and platform for Jockey to market its product range.

We wanted to reach out to as many people as possible, and that's the reason that we chose this association with T20 and multimedia. It is important because each of these channels does deliver very unique output as you look at it from a delivery point of view, and hence we ensure that there's a balance in our efforts between TV and digital. The campaign's effectiveness, especially during India's strong performance in the series, proves this strategy is working well.

Innerwear brand Jockey focusses on digital amidst quick commerce boom

For most marketers, podcasts are their go-to medium for staying abreast with current affairs, upgrading their knowledge and adding value to their positions. That’s the case with Amit Doshi as well. The Britannia Industries chief marketing officer (CMO) is a self-confessed fan of the medium, and religiously tunes in to The CMO Podcast by Jim Stengel, who among other things was the CMO of Procter & Gamble. Listening to him, said Doshi, has offered him much-needed perspective on refining his responsibilities in his field.


It's not that Stengel is his only source of information. In a conversation with Storyboard18, Doshi said, “I am a big believer in the way Gary Vaynerchuk thinks about attention and how brands need to change their playbooks. Prof. Scott Galloway and Kara Swisher are the other absolute favourites. Over the years, their podcast has helped me keep a tab on all that's changing and in their absolutely inimitable style.”


Edited excerpts:


What are your favourite quotes on marketing and leadership?


Over the last several years, there are a few I have heard from several leaders and peers that have stuck with me. Those would be:


a. There are no boring brands, only boring marketers. 


b. Ideas are common, execution is not.


c. Change before you have to.


d. Victory belongs to the most tenacious.


In your free time, what marketing-related content do you consume?


I like listening to a few podcasts. The CMO Podcast by Jim Stengel helps me with perspectives from global CMOs. It has helped refine my understanding of the role and its priorities. GaryVee is my go-to content stream for new-age marketing. I am a big believer in the way Gary Vaynerchuk thinks about attention and how brands need to change their playbooks. Prof. Scott Galloway and Kara Swisher are the other absolute favourites. Over the years, their podcast has helped me keep a tab on all that's changing and in their absolutely inimitable style. 


Where do you get your social media fix?


Instagram doomscrolling and LinkedIn, of course. I do enjoy a few subreddits too, the ones related to my interests. 


What were the last five videos you viewed on any social platform?


a. Currently streaming The Lavari Show on The Comedy Factory.


b. A few videos about Graham Thorpe, the cricketer.


c. An interview with Col. Shivender Kanwar.


d. An episode of Talking Watches on Hodinkee.


e. Re-runs from The Paris Olympics.


Who are your favourite creators and what draws you to them?


That's a super-tough question. There are so many talented creators and one keeps discovering new ones every now and then. There are some that have truly stood the test of time. Zakir Khan, Lex Friedman, Marques Brownlee, Unfiltered by Samdish, Smita Prakash (ANI), Gaurav Kapoor (Breakfast With Champions), Neelesh Misra (The Slow Interview), Amit Varma… The list goes on. 


Of late, it has been a treat to listen to Shekhar Gupta (The Print) and Saurabh Dwivedi (Lallantop). Our Indian cricket team champion and Britannia brand ambassador R. Ashwin has been an absolute revelation, too. Their authenticity and their distinctive tone of voice have been the reasons that they've been so successful over long periods of time.


What is your sport/fitness/wellbeing routine?


I practice a blend of mobility exercises and strength training, usually over the weekend. Watchful eating helps me keep in control of my daily calorie intake and over time, thanks to my coach, I've been able to evolve a formula that works for me. I try to pack in some minutes of mindfulness every day, whether it's a short bout of meditation or brewing my own coffee in the morning.


How does your routine weekend go? What does your ideal kind of weekend look like?

A fun train ride with the family to discover a new part of Bengaluru, my cheat meal of the week and a couple of good workouts. That makes for an amazing weekend. A trip to the local gaming arcade with my son Anay is a stellar bonus!


What are you watching or streaming this weekend?


Over the weekend, I invariably find myself hunting for the latest Malayalam movies. My latest movie watches include the National Award winning "The Play" and the recently released "Aavesham". I am usually streaming multiple things at once. Currently I am catching up with the latest series of "Gullak" and binge watching “Lavari”, a series of episodes by a quartet of super-talented artists from Gujarat. 

 
Any work or life hack you swear by?


What gets resourced gets done—time, people, money 


What are you reading? Any recommendations? 


I enjoyed reading "The Anatomy of Humbug: How to Think Differently About Advertising" by Paul Feldwick. Kawal Shoor, founding partner of The Womb, introduced me to this book. It introduces the reader to the historic roots of our common and often contradictory beliefs about advertising. 

Having said this, I don't read much. I might be stating an unpopular opinion here. I sometimes feel that conventional "reading" is overrated. I am an audiovisual person and would rather watch a movie, listen to a podcast or walk the streets. 

 
What's your advice to avoid personal and professional burnout?


This has not come easy to me but I've got better at this over time. My first advice is to find a job that you enjoy doing and an organisation that is a fit for your personality. It is easier said than done but is half the battle won. Managing burnout is an everyday practice and I believe in the 3 'S's—sleep well every day, switch off every week and set right every year. Setting right involves re-evaluating one's priorities and calibrating life choices accordingly.


A piece of professional wisdom you would like to share with next-gen marketers?


The world is changing rapidly and will continue to do so. Staying curious is necessary but not sufficient any more. The future will belong to brands and marketers who respect the past but also have the courage to challenge it. And if you have the opportunity, have the bias for action and not debate. 


What's the best advice you've got or heard on "life"?


Rather uncomplicated advice
 

● It is what it is and…


● You've got to do what you've got to do 


Read More: <a href="https://www.storyboard18.com/brand-makers/enjoy-what-you-do-and-who-you-work-with-lance-bennett-mercedes-benz-india-40463.htm">You will never win by focusing on the rearview mirror: Lance Bennett, Mercedes-Benz India</a>

Jim Stengel’s ‘The CMO Podcast’ helps refine my understanding of the role : Amit Doshi

About 90-95 percent of Indians still prefer to visit local businesses where they can interact with the service providers, bargain, and build relationships despite players like Urban Company and Yes Madam existing in the market, says Shwetank Dixit, Chief Growth Officer of Justdial, a local business search platform.

This is particularly true for services like haircuts, where personal touch and trust are important factors, and this is where Justdial steps in, he said.

"The top 11 cities used to hold the majority of Justdial's revenue in terms of geographic distribution. However, there has been a major increase in traffic and revenue from Tier 2 and 3 cities in recent years. While these cities may take time to surpass the revenue contribution of the top 11 cities, their growth rate is much faster," Dixit said.

Today, Justdial's revenue primarily comes from vendor partnerships. "While we have recently started advertising to vendors, it currently accounts for a negligible percentage of our overall revenue. Our focus remains on driving user traffic and connecting them with relevant vendors," Dixit added.

Justdial, originally known for its voice search service, recognised the growing importance of digital platforms and became an early adopter by launching its website in 2007.

Justdial's revenue grew 23 percent year-on-year (YoY) to Rs 1,043 crore in FY24, while operating profit surged 152 percent Yoy to Rs 216 crore and net profit jumped 123 percent to Rs 363 crore. 

In the first quarter of FY25, Justdial recorded its highest-ever quarterly revenue of Rs 280.6 crore, up 13.6 percent while net profit grew 69.3 percent to Rs 141.2 crore.

Mobile-first approach

Justdial has also jumped on the trend of increasing mobile usage and implemented a mobile-first strategy. "85 percent of our 181 million visitors in the first quarter of FY25 accessed our services through mobile devices. While voice traffic has decreased to around 3-3.5 percent, it still constitutes a substantial portion of our user inquiries," he added.

The most popular categories searched on Justdial include healthcare, home services, products, and local businesses while some of the top-performing categories are restaurants, packers and movers, pest control, beauty services, mobile phone dealers, and AC repairs.

Even though Justdial predominantly serves local businesses, it also attracts advertising from larger brands like Dr Batra, DHL, Metropolis Healthcare, and Castrol.

Targeted advertising 

Dixit stresses that one of Justdial's core competencies is its ability to offer highly targeted advertising. Businesses can specify their desired locations, ensuring their ads are only shown to relevant users. This coupled with Justdial's comprehensive analytics, provides useful insights into campaign performance.

Although Justdial's advertising spend has remained relatively consistent in the past year, with an allocation of around Rs 24-25 crore, the company has shifted its focus towards quality leads and user experience. "Instead of simply driving traffic, Justdial now aims to ensure that users are more likely to contact its paid vendors," Dixit said.

Technological innovations

Additionally, Justdial has invested significantly in technological advancements like AI and ML, OCR technology, page speed optimisation and review summarisation.

“We don't use AI like as a gimmick like most,” he said.

The challenges associated with something as "simple" as review writing are significant, according to Dixit. "Many users, particularly those with limited English proficiency from Tier 2 and 3 cities find it difficult to express their thoughts effectively. The fear of being judged or criticised for their writing skills further discourages them from sharing their experiences,” he said.

Justdial introduced an AI-assisted system to simplify the process by presenting users with a series of simple yes/no questions. Based on a user's responses, the AI generates a review that can be edited and submitted.

One of the challenges faced by Justdial was identifying fake businesses and removing fraudulent reviews. By analysing business activity, review patterns, and other data points, Justdial was able to detect and remove fake businesses and reviews.

According to Dixit, the Catch-22 here is that to address these issues, some platforms offer incentives for writing reviews. However, this approach often led to an increase in fake and misleading reviews. Users were more likely to write reviews for rewards rather than based on their genuine experiences, compromising the authenticity and reliability of the review content.

To prevent fake reviews, Justdial requires users to link their reviews to mobile numbers. This makes it more difficult for individuals to create multiple fake accounts and write numerous reviews for the same business. Additionally, Justdial uses data analysis techniques to identify and remove suspicious reviews.

Justdial says 95% of Indians still loyal to offline stores, sees faster growth in Tier 2 and 3 cities

Brand Mercedes-Benz is synonymous with excellence. Mercedes-Benz, which clocked its stellar three-decade run in India, will be transforming 25 retail outlets into luxury boutiques by 2024.



Lance Bennett, Vice-president, Sales and Marketing, Mercedes-Benz India, in a conversation with Storyboard18, shared his tips on how to avoid burnout.



“Exercise, sleep and eat lots of raw rather than processed food. With a busy life, it’s easy to drop these but I’ve found that I’ve to maintain them to stay on my A game. We’re also helping our customers find the right balance through our MeLife nationwide tour. Our agents are hosting curated events to educate customers about wellness and mindfulness.”



Bennet also shared a couple of professional life lessons: remain passionate about work and be open to opportunities that come your way.


Edited excerpts from the interview:


If you can list five of your favourite quotes on marketing and leadership? 


I strongly believe in focusing on the customer and providing the best experience ever. Most of the quotes that resonate with me are in this vein. Innovation is a work in progress and it holds the key to stay ahead. So, stay focused on the road ahead. Because you will never win by focusing on the rearview mirror.


As for my favourite quotes on marketing and leadership, they are: 


If you look after your staff, they will look after your customers – Richard Branson, English business magnate


Always deliver more than is expected – Larry Page, co-founder of Google


Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected. – Steve Jobs, former CEO of Apple


Our business in life is not to get ahead of others but to get ahead of ourselves – Joseph Crossman, American inventor, entrepreneur and author 


In your free time, what kind of marketing-related content do you consume?


When I’m exercising, I listen to podcasts. I enjoy listening to stories of developing businesses and their inspirational journeys to success.


Where do you get your social media fix?


Instagram and LinkedIn, probably in equal measure. I think it’s important for brands to tailor their content to the platform and audience. There’s a clear difference in what should be published on various channels. We strive to have relevant content and not blend them. We never take a one-size-fits-all approach.


What were the last five videos you viewed on any social platform?


I follow a lot of auto content on social platforms. These are the ones that I recently came across:


I watched a short clip on a pristine W126 S-Class from the Mercedes-Benz Classic Centre in Germany. The innovation and design that we’ve always had in our cars captivates me.


The ‘Making of Project Maybach x Virgil Abloh’ – A story of collaboration that pushed the boundaries of design.


‘DRIVE PILOT – A Dream Come True’, a story that starts with a child's dream of owning the legendary three-pointed star and culminates in their achievement of this goal.


I watched a video where a collector was taking delivery of their bespoke F1 Engine Hypercar – AMG One!. He was filled with excitement during that moment.


We encourage our customers to capture and share these unforgettable moments on social media, as they hold significant emotional value.


Who are your favourite creators and what draws you to them?


As a marketer, I’m captivated by creators who excel at weaving compelling stories, pushing the envelope in design, and crafting exceptional brand experiences.


The ones who create narratives that deeply resonate with relevant audiences capture my admiration. I’m also inspired by those who redefine design and aesthetics, setting new benchmarks in luxury through their meticulous attention to detail.


What is your sport/fitness/wellbeing routine?


I try to exercise an hour a day, but it requires me to wake up at 5:20 am. The hardest thing is being disciplined to go to bed on time the night before.

 
How does your routine weekend go? What does your favourite kind of weekend look like?


Often on weekends, I’m hosting events with our customers. Two weeks back, we launched the Project MAYBACH concept car, which was a design collaboration between Gorden Wagener and Virgil Abloh. 


Prior to that, we hosted an AMG track day with 20 of our best AMG products at the limit on the CoASTT racetrack. Fortunately, our brand provides us with so many opportunities to host such a wide variety of events and connect with customers.


What have you been watching on weekends?


I’m fascinated by the Olympics. Watching the world’s best come together to compete is inspiring. I think there’s a lot of correlation between the sports and the business world. Both activities require a similar level of sheer determination and focus. For instance, a win at a marathon can also inspire a professional to be successful at the workplace.


Any work or life hack you swear by?


My time is precious and the way I make the most of it is by only holding short meetings. That way I can squeeze a lot into a day. I also appreciate having the time in the car to work to prepare. I’m lucky that I can work on my laptop in the comfort of my electric EQS 580. Being electric, it is super quiet and smooth. It shuts out a lot of the outside noise and I can stay focused on the work at hand.

 
What are you reading? Any recommendations?


I am currently reading – ‘Everyday Business Storytelling’. This book highlights how storytelling is a crucial skill across different aspects of life, whether engaging customers through marketing or presenting ideas to colleagues. I find the book quite engaging and would highly recommend it.


What's your advice to avoid personal and professional burnout?


Exercise, sleep and eat lots of raw rather than processed food. With a busy life, it’s easy to drop these, but I’ve found that I’ve to maintain them to stay on my A game. We’re also helping customers find the right balance through our MeLife nationwide tour. Our agents are hosting curated events to educate customers about wellness and mindfulness. 


A piece of professional wisdom you would like to share with next-Gen marketers?


Enjoy what you do and who you work with. If you have passion for what you do, it won’t feel like work. 


Be open-minded about opportunities. Exploring opportunities has led me to some great places and without this, I wouldn’t be where I’m today.


What’s the best advice you’ve got or heard on life?


Work hard and be smart and the rewards will come.


Read More: <a href="https://www.storyboard18.com/interviews/respect-time-hdfc-life-cmo-vishal-subharwals-marketing-mantras-and-life-hacks-39802.htm">'Respect time': HDFC Life CMO Vishal Subharwal's marketing mantras and life hacks</a>

You will never win by focusing on the rearview mirror: Lance Bennett, Mercedes-Benz India

The 400 percent GST hike seems to be the primary catalyst for the Real Money Gaming (RMG) industry's troubles. The GST amendment has had a steep impact on the companies' margins. Revenue growth for companies in gaming has stalled, and some early-stage companies are also experiencing de-growth.

Paavan Nanda, CEO and Co-Founder, WinZO said, "The 400% hike in GST has posed unprecedented challenges and existential crisis for the gaming industry. Companies are struggling to retain gamers and attract new users, leading to widespread consolidation and pushing startups out of the ecosystem.” 

Nanda said, “Many startups have already shut down, laid off hundreds of employees, and are grappling with stagnant revenues. The pay per play segment of the online gaming industry, which previously absorbed 90% of the $3 billion FDI in gaming, has seen a complete withdrawal of investments.” 

In an interview with Storyboard18, Paavan Nanda, CEO and Co-Founder, WinZO discusses GST challenges, lower developer salaries and production costs in India compared to Western countries, India's gaming industry shifting from being an importer to an exporter, and more. 

Edited excerpts:

How is WinZO navigating GST challenges to ensure profitability and continuous de-growth? 

The 400 percent hike in GST has posed unprecedented challenges and existential crisis for the gaming industry. Companies are struggling to retain gamers and attract new users, leading to widespread consolidation and pushing startups out of the ecosystem. Many startups have already shut down, laid off hundreds of employees, and are grappling with stagnant revenues. The pay per play segment of the online gaming industry, which previously absorbed 90 percent of the $3 billion Foreign Direct Investment (FDI) in gaming, has seen a complete withdrawal of investments.

Apart from a few large-scale operators, early-stage and upcoming companies face near-certain extinction. Addressing these concerns will help the gaming industry thrive and contribute significantly to India's economy. We have urged the government to levy GST on GGR/ Platform fees, which is the actual revenue received by a platform. This approach will ensure the sector's viability and foster growth

India has lower developer salaries and production costs compared to Western countries. What competitive advantages do you see for Indian gaming companies on the world stage?

The availability of world's top tech talent at competitive compensation is anchoring the growth of online gaming in India and its growing role in the global market. Earlier, India did not figure among the top 10 countries with the highest software engineer salaries but today the top tech talent in India is paid at par with their peers in Silicon Valley. 

India boasts a vast and growing population of young, tech-savvy gamers, providing a significant user base for initial game testing and adoption at a scale that is parallel to no other market with 600 million gamers, consuming across 20 languages and regional preferences. This large market allows us to refine our products and build a strong foundation before expanding globally. The country also benefits from a highly skilled workforce, with a large number of engineers, developers, and creative professionals well-versed in the latest technologies and trends in gaming. This talent pool enhances the quality and innovation of Indian gaming products.

Can you elaborate on the anticipated factors that might contribute to the significant margin variations in FY24?

The GST amendment has had a steep impact on the companies' margins. Revenue growth for companies in gaming has stalled, and some early-stage companies are also experiencing degrowth. Decreased margins due to increased GST (which is currently being absorbed by the companies) have resulted in employee layoffs and/ or reduced hiring in the gaming industry. 

Owing to all the above reasons, only a handful of entities remain profitable at lower margins as compared with the previous GST regime. The majority of companies have suggested that industry should be taxed on platform fee the real revenues of the company instead of deposits, which is at par with global benchmarks. 

Can you comment on India's gaming industry shifting from being an importer to an exporter?

India's engineering excellence, nurtured by over 1,168 universities and 45,473 colleges, has positioned the country as the engineering talent capital of the world. The country's technical prowess and innovative spirit, exemplified by successes like Mangalyaan, highlight India's ability to achieve high-quality outcomes cost-effectively, unlocking the true potential of the Indian gaming industry.

Second, India's rich cultural heritage provides a treasure trove of stories, characters, folklore, and indigenous games such as carrom, chess, ludo, snakes and ladders, and marble games. The global audience's appetite for these games is immense, and platforms like WinZO have introduced these traditional games to international markets, showcasing India's cultural richness and generating exportable gaming content.

Third, with 600 million gamers, India constitutes 20% of the global gaming market, making it the world's largest. This diverse user base, with over 80% from smaller cities and rural areas and a significant 40% of women gamers, demands continuous innovation from Indian gaming companies. This dynamic environment fosters a virtuous cycle, enhancing the global competitiveness of the Indian gaming sector.

Despite forming a substantial portion of the global gaming market, India has historically captured only 1% of the $300 billion industry. However, innovative monetization models developed by Indian companies are changing this narrative. For instance, WinZO, after achieving a significant user base in India, expanded to Brazil, enabling its 100+ partner developers to enter the Brazilian market.

What kind of Indian gaming content and IP are finding success in the global market?

A key factor propelling the success of Indian gaming content and IP are the integration of local culture, folklore, and mythology into gaming content. These elements have captured niche audiences globally, appealing to international players seeking unique storytelling and cultural experiences. On WinZO’s platform, traditional games like Ludo, Snakes and Ladders, Carrom, and Chess have gained traction worldwide. 

The global and Indian gaming user base exhibits a preference for diverse content across various genres. The rich tapestry of Indian culture offers opportunities for creating engaging and distinctive games that resonate with players everywhere.

 How is catering to regional languages is driving user growth and engagement on your platform?

At WinZO, over 90 percent of users come from tier 2 cities and beyond, and 90% of our 200 million registered users access the platform in regional languages. Currently, WinZO offers game interfaces in 13 regional languages, including Hindi, Bengali, Tamil, Telugu, Kannada, and Marathi. This makes our platform more accessible to users who prefer to interact in their native language.

We have also incorporated culturally relevant themes and narratives into our games which includes integrating local festivals, traditions, and folklore into game storylines and events.

In addition, collaborating with regional content creators and influencers is another key aspect of our strategy. These creators produce content in their native language and the influencer-audience relationship creates awareness around games on our platform.

'Many RMG startups in India on the verge of shutting down business', says CEO of Winzo

The Indian real estate sector is expected to become a trillion-dollar market by 2030, with a focus on investment and innovation. Affordability initiatives have catalysed the expansion of the residential segment, ensuring that housing solutions are accessible to a wider demographic. Cities such as Mumbai, Pune, Hyderabad and the NCR serve as hubs driving demand in residential segments. These urban landscapes encapsulate the confluence of economic activity, cultural richness and a burgeoning population, making them epicenters of real estate growth, as per a report by KPMG.

Furthermore, the blend of technology and sustainability principles has redefined the contours of India's real estate. From smart homes that integrate cutting-edge technology to data-driven insights guiding decision-making processes, the sector has been increasingly investing in technology, the report highlighted.

Housing.com, one of the players in this dynamic market has strategically positioned itself to capitalize on this growth. 

Snehil Gautam, CMO, Housing, PropTiger & Makaan, shares insights about the real estate search portal's strategic alliance with Disney+ Hotstar, leveraging the reach of cricket and more. 

Edited excerpts:

Housing.com has undergone a shift from traditional to digital-first marketing. Can you elaborate on the key challenges you faced during this transition, and what were the biggest successes you achieved with campaigns like "Lookup" and "Parr Se Perfect..."?

Our research shows that our target audiences are increasingly using digital platforms. 97% of our TG are using OTT and 70% consume through connected TV i.e. apps on Smart TVs. Therefore, it was a relatively easier decision to move to digital first marketing as the brands are supposed to follow the user consumption. However, the challenge was to find the right avenues in the digital world to advertise and make an impact. Digital media's expansive landscape has made us prioritize our efforts, leading to a sharper media mix and a more focused channel/genre mix.

Our campaigns have always been insight led, stemming from deep rooted cultural insights, right from “Ghar Dhoondna Koi Inse Seekhe” where we celebrated women’s significant role as key decision makers in the home purchase journey to “Parr Se Perfect...” where we celebrated small doubts and niggles that arise in the minds of anyone dealing with the question of property sale & purchase. These campaigns have improved Housing.com's brand salience and today, Housing.com is the No 1 real estate app in India. 

The ICC Men's T20 World Cup partnership with Disney + Hotstar is a strategic move. How did you measure the effectiveness of this campaign in reaching a vast audience and establishing Housing.com as a major Real Estate App? Looking ahead, how do you see OTT platforms and CTVs impacting your marketing strategies in the future?

As a result of our Campaign, 330+Mn impressions across CTV & mobile (mainly CTV) were served to our core audience base, leading to sharp spikes across app downloads and website traffic.

As per our research we see our TG’s media consumption moving towards OTT & CTV, 97% of our TG is consuming OTT & CTV has 70% penetration in our core audience. Given this we see OTT content integrations & Ad inventories across impact shows/live cricket primarily on CTV taking the lion's share of our media budget.

The real estate market is competitive, and user behavior is constantly evolving. How has Housing adapted its strategy to not only acquire new users but also retain existing ones, particularly with the recent focus on landlords?

Our strategy focuses on continuously launching products and features that directly address these changing demands and improve customer experience so that we are not only able to acquire new users but also retain them. 

Through rigorous user research and analysis, we stay attuned to shifts in consumer preferences and market trends. This enables us to develop innovative solutions like real time seller connectivity via housing chat, seller and listing verification, home loan and mortgage solutions.

We prioritize delivering consistent value and reliability like our proposition for sellers where we provide landlords and sellers with verified, price-matched, and ready buyers and tenants, making the property selling process hassle-free for owners.

As digital marketing evolves, data privacy becomes increasingly important. How does Housing navigate this challenge while still using data effectively to inform its marketing strategies?

Safeguarding data privacy is integral to our processes. We anonymise data to protect individual privacy, enabling us to analyse trends and personalise our marketing strategies effectively. This approach ensures we uphold user trust while delivering targeted and efficient marketing campaigns without compromising confidentiality

On what platforms does Housing.com advertise? 

We constantly strive to find an efficient balance between reach, frequency and impact in our media mix. For reach & frequency we see YouTube as a platform with CTV and premium mobile targeting on mobile while for impact we will leverage OTT key impact shows & movies along with key live cricket tournaments.

What's your vision for the future of Housing marketing initiatives? Are there any potential areas for expansion or innovation you're particularly excited about, and how will these contribute to the platform's continued growth?

As part of our strategic approach, while we will further sharpen our advertising media mix to bring more efficacies, our effort will be focused on leveraging content by creating digital IPs which will create that long lasting impact in the minds of our customers.

OTT dominant among 97 percent of Housing.com's TG; CTV reaches 70 percent penetration

Vishal Subharwal, Chief Marketing Officer and Group Head - Strategy, HDFC Life, says that constant learning and working in new areas helps keep burnout at bay. “For example, on the technology side of marketing, you can stick to your domain and still keep experimenting with ideas... If you are into marketing, it's good to go out and get a couple of years of experience in sales, because that gets you closer to the customer. If you keep doing that, especially in your younger years, you'll be a well-rounded marketing professional by the time you’ve garnered about a decade of experience." 


Edited excerpts


What are some of your favourite quotes about marketing and leadership?

From a leadership perspective, one of my favourite quotes is ‘culture eats strategy for breakfast.’ While the strategic direction in which an organisation moves is really important, I think the culture and values essentially drive where an organisation and a brand is headed.


Apart from that, from a marketing standpoint, I'm a believer in research which is crucial before any action is taken on the brand.

 

So, from that point of view, another quote which comes to mind is Charlie Munger’s (former Vice Chairman, Berkshire Hathaway) famous, ‘invert, always invert,’ which means that when faced with a problem, always have an alternative hypothesis which is probably the polar opposite of what seems likely. That’s what I try and put to use at HDFC Life. 

 

When it comes to our ads, another quote I try and abide by is that a good advertisement is one which sells the product without drawing attention to itself. A lot of our brand campaigns are about financial independence. For example, Sar Uthake Jio. The social context (of an ad) is very important for us, so the ad can sell the product without drawing attention to itself. 


In your free time, what marketing-related content do you consume?


I consume content across multiple sources, a lot of which is publicly available. But a lot of the content which is forward-looking comes from our agencies, whether it's Leo Burnett on the brand side, Schbang on the digital side, or our tech partners, Google, Meta, and Adobe. There are also independent professionals who track the industry, and write about what's happening in marketing, adtech, and martech.

 
Then it's up to us to see what’s working and what’s not. Additionally, there are research and media planning agencies which give us inputs. Keeping an open mind is very important when you're consuming information, and it's good to have multiple sources of information so you have a holistic and balanced perspective. 


What were the last five videos you viewed on any social platform?

 
The last five videos were heavy on Olympics. In the last couple of days, I’ve watched a short documentary about how Nike ran into trouble recently. I’ve also seen a small podcast on investing. 


What’s your fitness routine?

 
I’m not very heavily into fitness but more into mindfulness, reading, a bit of yoga, and a bit of gyming. 

 
What does your favourite weekend look like?

 
Favourite weekend would be travelling away from the hustle of the city. When that's not possible, maybe pick up a book and read or watch a movie with the family.

 
What are you watching this weekend? 


The last thing I watched was a Tamil movie on Netflix, called Maharaja. It had the actor Vijay Sethupathi in the lead. 

 

Any work or life hack you swear by? 

 
I try to attend meetings on time. I think that's always a good life hack to follow as a professional, because respecting time is very important for me. 

 
What are you reading? 

 
Outlive: The Science of Art and Longevity, by Dr Peter Attia, on health and wellness. I recently read ‘A Shot At History,’ which is Olympic gold medallist Abhinav Bindra’s autobiography. I’m also reading a book by Terry Smith called, ‘Investing For Growth.’


What's your advice to avoid personal and professional burnout?


I've been a generalist and moved across roles, whether it's strategy, marketing, business planning, or finance. As long as you keep working in new areas, burnout can be avoided because you're learning something new every time. In marketing, let's say you're a young professional working on a brand today, be open to working on the performance marketing side as well as the adtech side.

 
For example, on the technology side of marketing, you can stick to your domain and still keep experimenting with ideas. Most large organisations have different products, different brands, and you can move across product categories. 

 

If you are into marketing, it's good to go out and get a couple of years of experience in sales, because that gets you closer to the customer. If you keep doing that, especially in your younger years, you'll be a well-rounded marketing professional by the time you’ve garnered about a decade of experience.

 
A piece of professional wisdom you would like to share with next-gen marketers

 

A good mix of data and gut in decision-making is really important. So, back your instinct, but it's better if it's also backed by data. 

 

What's the best advice you have got or heard on life?

 

We are old too soon and wise too late.

 

I heard this on a podcast by Muneesh Pabrai, who's an investor based in the US. He does a lot of charitable work in India through an organisation called the Dakshana Foundation.

 

He funds students in classes 9 to 12, and even helps them prep for their medical and engineering entrance exams. He believes in education, and the foundation can be a game changer for a lot of children from poor backgrounds.

 

The foundation provides schooling and hostel facilities. A lot of their students who crack medical and engineering entrance exams in turn give back to their schools.



Read More: <a href="https://www.storyboard18.com/brand-makers/cmo-weekender-federal-bank-cmo-mvs-murthy-on-life-and-work-success-and-failure-38378.htm">CMO Weekender: Federal Bank CMO MVS Murthy on life and work, success and failure</a>

Inflation has impacted entry-level segment: Tata Motors' Shailesh Chandra

Shailesh Chandra, Managing Director of the Passenger Vehicle Division at Tata Motors, discusses how inflation and interest rates have affected the entry-level car segment. He anticipates a slowdown in growth momentum for 2024.

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