Ms Sudha Kumar (left), CEO and Co- founder, Prayag Consulting Pvt Ltd, and Dr H.C. Nagaraj, Principal, Nitte Meenakshi Institute of Technology, College of Business, at an interaction session with the students of NMIT at Yelahanka near Bangalore, organised by the Bl Club.

Have marketing products or services evolved over the years? Or has the dot com era revolutionised the way business is done? Does mention of the word 'marketeer' evoke the same stereotypical image of a person, who indulges in manipulation?

A guest lecture on 'Marketing in the 21st century' organised by Business Line Club for the students of College of Business, Nitte Meenakshi Institute of Technology, Yelahanka here provided answers to these questions.

The Chief Executive Officer and founder of Prayag Consulting, Ms Sudha Kumar, sharing her experience with the students, said globalisation, digitisation, innovation and collaboration have positively impacted the way products and services are marketed these days.

Now, products and services are bought and sold over electronic systems such as the Internet and the amount of trade conducted electronically is growing at a rapid pace. The emergence of e-commerce has significantly lowered barriers to entry and many small business houses are able to sell their wares either through online auction sites or via large corporate websites and are reaping the benefits of exposure such sites provide, she said.

"Though the fundamentals of marketing have remained the same, the wrapping of it with creative ideas has brought a whiff of fresh air. Non-linear thinking and application of cross-cultural issues are the critical success factors of present day marketing and they have contributed to the growth of businesses," Ms Sudha said.

Quoting the example of the Tata Group, Ms Sudha Kumar pointed out how a non-aggressive company has started making news the world over with the launch of 'common person’s car'. She said, 'You don’t need billions of rupees to market your product, what you need is creative ideas that appeal to the consumers. The present day marketing is different. It is ubiquitous, viral in nature that is catalysed by technology and is also interactive,' Ms Sudha Kumar said.

All this has made marketing special and the marketers have the tough task ahead of working out strategies that will appeal to a consumer who is 'mindful' and 'knowledgeable'. 'The market is the ultimate battlefield for any company and to come out with winning strategies is the ultimate test of a marketer,' Ms Sudha Kumar said.

The Regional General Manager of The Hindu, Mr N Rajashekar, said that newspapers provide information on dynamic market conditions that will help students gain knowledge and be innovative and successful in their corporate life.

The Principal of Nitte Meenakshi Institute of Technology, Mr H.C. Nagaraj, and the Head of the MBA programme, Mr L.P. Rajan, were present. Prof. N.R. Govinda Sharma proposed a vote of thanks.