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Marketers Need to Focus on the 'Room-mate' Family in the Digital Age - Says Jagdish Sheth

289 Days ago

Business Wire India
BRIDGE School of Management held the 6th session of “BRIDGE BRIEFINGS”, on Wednesday, 6th January continuing the effort to foster meaningful dialogues between industry and academia. Dr. Jagdish (Jag) Sheth, Charles H. Kellstadt Professor of Marketing at Emory University, delivered an interactive session on “Consumers & Consumption in the Digital Age” to an engrossed audience comprising of senior industry leaders, entrepreneurs, business professionals, students and senior academicians.

Welcoming Dr. Jagdish Sheth to the occasion, Dr. Bibek Banerjee, Dean of BRIDGE School of Management shared Dr. Sheth’s scholarly contributions as a global authority on marketing and consumer behaviour, especially relationship marketing, global competition, and emerging markets. “Marketing must synergize with the supply chain function as the Digital Age will lead to more and more unique and localized demand cycles,” stated Dr. Sheth. “Today marketers must understand users, and not just the buyers. Word of mouth is a powerful tool that social media will bring to the forefront of the brand narrative.”

Dr. Jagdish Sheth, prolific author and strategic business advisor also spoke that the impact of Digitalization is just being felt by the ecosystem. The democratization and accessibility provided by the digital technology spans across sectors – unlocking creative potential, releasing unproductive capital in inefficient retail supply chains, thereby bringing consumers and producers closer. The Digital Age is also revolutionizing higher education, according to Dr. Jag Sheth. He introduced the concept of the 3 I’s of education: Interactive, Integrated (cross-discipline) and Individualized. And the digital platform will play a pivotal role in transforming the traditional classroom and also the role of the Professors.

Dr. Sheth said the rise of India’s new nuclear middle class (the Room Mate family) will be disruptive in its impact on consumption behavior. It will redefine what constitutes a family or the household as a unit of analysis for consumer behavior. Dual income will become a necessity for economic survival and fulfilling aspirational needs, wants and desires. The biggest impact will be on in-sourcing homemaking activities, such as cooking, cleaning and childcare – thereby leading to new demand for branded quality products & services. He also opined that time-poverty will be as important to understand as money-poverty.

BRIDGE School of Management aims to address the ‘education-employment mismatch’ and create a talent pool of professionals with real time business skills and practical knowledge for a global workplace. The School also has an exclusive academic partnership with the Northwestern University (USA) for Analytics and Project Management programs. Northwestern has a dozen schools and colleges, including Kellogg School of Management, ranked 3rd among the USA’s Best Business Schools by U.S. News.

About BRIDGE School of Management

BRIDGE School of Management is a flagship business school launched by India Education Services Private Ltd., a Joint Venture between HT Media Ltd. and Apollo Global Inc. (USA). BRIDGE School of Management is formed to address the ‘employability’ gap to help India’s rapidly growing Service and Manufacturing Industry educate and empower employees for a 21st century global workplace. Leveraging the best-in-class knowledge, experience, expertise and technology from Apollo Global, Inc. (USA), BRIDGE aims to provide an innovative learning environment and industry focused management programs for aspiring and working professionals to boost their career (www.Bridgesom.com).

Photo Caption: Dr. Jagdish Sheth at BRIDGE School of Management

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