Pariprekshya'19 aims to provide a dais where the veterans from industry will interact and reflect with the budding managers on the recent trends and developments in the domains of Finance and Marketing. This year's panel discus sions are centred around the changing nature of business landscape in both - Financial and Marketing spheres due to new and disruptive technologies. The conclave aims to provide the student fraternity at IIM Amritsar a holistic view of how these fields are undergoing transformation from the perspective of both businesses and customers, thus creating a generation of managers who will be equipped with a deep understanding that will help them navigate the dynamic business scenario of today. While the Finance panel would discuss on "Changing Landscape of BFSI sector': the discussion for the Marketing Panel would be focused on "Marketing in the age of Voice Search and Virtual Assistants': The idea is to ana lyse these challenges and develop a greater sense of under standing about the rapidly changing business scenario and the technological disruptions that are going to change the nature of our work.
“Changing Landscape of the BFSI Sector”
The Banking, Financial Services, and Insurance (BFSI) sector has seen a great deal of improvement in the efficiency, delivery and speed with which banking activities and other financial and insurance services being offered. The overriding reason for this positive change was the adoption of Financial Technology (FinTech). FinTech is the amalgamation of conventional banking and financial instruments with the power of technology. From 1start-ups1 to established institutions, all the key players are harnessing this technological edge along the financial services, value chain to provide agile, efficient and differentiated experiences to the end-user. This movement has the potential to fundamentally transform the financial-landscape where consumers will get to choose from a larger set of options at competitive prices. Mobile Wallets, UPls, Online Trading platforms are but a few of the most illustrious examples of FinTech application.
“Marketing in the age of Voice Search and Virtual Assistants “
Brands today owe their success to their ability to signal quality and win buyers' loyalty. Unlike radio and television that revolutionized advertising and digital marketing that opened a plethora of opportunities for marketers, voice search and virtual assistant would not just be an improvement but rather a disruption in marketing. Brand marketing will shift from marketing directly to the consumer towards marketing on these Al-based platforms (Alexa, Siri) and indicating the "target customer" through various signals including ratings, branding, price, past buyers, and more. Brands will need to get their products on these Al-platforms to get them in front of their customers along with targeting customers directly through traditional advertising. Given this context, the panel discussion will revolve around how companies need to realign themselves, to ensure visibility of the brand, whether superior marketing strategy will still matter? If so, what is likely to be different in the new age marketing? And how will these technologies change the business landscape? The discussion would also touch upon the role of these search assistants in data analytics and market research with the panellists sharing their experiences on the topic.