CIM’s series on ‘Marketing Insights’
The Chartered Institute of Marketing (CIM) Sri Lanka held its inaugural Talking Point Programme for the New Year titled 'Insights for Marketing in 2017' in January at the Union Ballroom, Hilton Colombo Residences.
To appraise participants on marketing trends in 2016 and what is forecast for 2017, the panel also discussed maintaining best practices and ways to support a company's future strategic direction.
The event brought together corporate leaders, professionals and marketers, presenting insights on how marketing has evolved in 2016 and the unique challenges shaping 2017.
The panel consisted of Quantum Consumer Solutions COO, Roshani Fernando, Frontier Research, Lead Economist and Senior Product Head, Shiran Fernando, LMRB, Chief Executive, Himalee Madurasinghe, and Group M MindShare Director, Erosha Tennakoon. The panel discussion was moderated by Unilever Sri Lanka Marketing Director, Home Care, Foods/Refreshment and Pureit, Makshoodh Meerasaibu
Presenting an overview of the Sri Lankan economy, Shiran Fernando discussed 'Macro Insights for 2017' with a detailed outlook on interest rates and currency trends, while identifying key factors to watch out during the new year.
"The last two years showed some stability and assurance in the markets. There are many key reasons to be positive and at the end of 2017, the economy could be much better," he noted. However, Fernando cautioned the need to be prepared for external risks which could derail stability and to expect some domestic bumps.
Roshani Fernando spoke on 'Insights from a psychographic lens of the Sri Lankan Household' which described five different psychographic profiles that exist across Sri Lankan households. She presented qualitative information in understanding the country's divergent households and 'keys to unlock opportunities to look at consumers differently.'
Himalee Madurasinghe, outlined insights on 'Emerging patterns of Consumer behaviour and Lifestyles'. Citing a wealth of data from branded products over three decades and numerous surveys she explained 'how the household income has shifted over time and doubled from 2009-2016.'
Madurasinghe emphasized the opportunities for marketers in terms of durable goods due to lifestyle changes and increase in income in addition to the blurring lines between urban and rural.
"Changing consumer demographic and lifestyles have contributed to the growth of many sectors, where convenience options have increased. While urban and especially rural consumers now make very informed decisions, the need for two price tiers for emerging segments due to market changes has arisen," she opined.
Erosha Tennakoon spoke on 'Emerging trends in the media and communication landscape in Sri Lanka'. She noted, "The consumer today is complex and demanding with many needs and wants portraying dynamic behaviour. Communication should be personalized and interactive through adaptive methods."
She urged marketers to seek integrated communication plans as they are a marriage of traditional and new media showcasing better results rather than using the streams in isolation.
A vibrant interactive discussion that followed the sessions presented the audience with discerning thoughts in understanding and connecting with consumers in new and meaningful ways, in the current evolving and dynamic business environment.
The Chartered Institute of Marketing (CIM) UK is the world's largest professional body for marketing. CIM Sri Lanka is the first international branch of CIM UK comprising the largest number of members, both students and professional members. The regional institute has always campaigned for greater recognition and excellence in the marketing profession in Sri Lanka, through education, training, and professional development.
- China to provide 90 water bowsers worth Rs 1b 2183
- Wag the Dog 2195
- A brief look at FARC’s origins in Colombia 2145
- ‘Panama Papers’ bags Pulitzer 2167
- SAITM will cooperate with Govt 2170
- dead man was near fashion mall 2213
- Japanese MPs back Lanka’s development 2175
- CB Bond earnings whitewashed – JVP 2186
- Talks to extend Lanka’s Continental Shelf 2178
- Ex-DIG and son re-remanded 2191
- Government can be sent home 2726
- GMOA flogging SAITM for Mahinda– Rajitha 2191
- Ranil invites Japan to invest in S. Asia 2164
- Somali Pirates’ Captives Back Home 2178
- Customs in Rs 8 M bust 2176
- Redefining Rape 2278
- The march of folly Our mad Cabinet system 1818
- First adventures in Europe 1902
- Inspiration for writers 1882
- Sri Lanka’s sustainable development dream 2031
- Sinhala and Tamil New Year with Easter 2061
- Filipino Oconer wins overall title 1814
- Unsporty conduct by Joes 1860
- Bertie Wijesinghe, pre-Test era Sri Lankan cricketer, dies aged 96 1830
- CEAT revs up for 2017 1817
- Palace shock Arsenal 1807
- Argentina fire coach Bauza 1818
- BCCI postpones SGM to 18 April 1795
- Murray returns from injury 1805
- New mum Azarenka to return to WTA 1789
- Galle win by 188 runs 1793
- Keeping Cool 1811
- Do the right thing and do it now! 1821
- Ravi Jayewardene Pious son of a political giant 2403
- In the heart of the old country 2235
- Sarath Weerasekera’s Geneva adventure 2056
- No moral right to play with public funds 1976
- No need for fine if route permits are issued in fair, just manner 1866
- UDA incurs Rs 330M Loss 1810
- DOUSING A MEGA SHIP FIRE 1642
- Health authorities in denial? 2113
- Minorities’ frustration a powder keg – VIDURA 2158
- Administrative powers a must for the Plantation Tamils –Radhakrishnan 1417
- Rajapaksa sought advice from McGuinness– Indika Perera 2535
- I will lead SLFP to victory in future elections – President 1929
- Hang the ‘traitors’– RTD. REAR ADMIRAL WEERASEKARA 2316
- We oppose Nationalism and Federalism – Samarasinghe 3027
- SilkAir launches direct flights to Colombo 1865
- Rupee falls on thin volumes 1809
- SriLankan, Japan Airlines add new routes 1830
- Colombo Port box volume up 5.6-pct in Jan 1808
- Private sector to transform into main domestic growth engine 1837
- Oil eases from 5-week top, rising US production weighs 1799
- Tight fiscal and monetary policies constrain SL’s growth 1818
- Shell admits dealing with money launderer 1817
- Toshiba may sell chip business to Foxconn for $27bn 1813
- Asian shares pressured by geopolitical risks; Nikkei down 0.25% 1808
- SLIM launches Certificate in Digital Marketing 1812
- Microsoft Hosts Second ‘Device Day’ in Sri Lanka 1815
- Emirates named Best Airline in the World 1805
- Turkish Airlines and social media assist Somalia 1803
- Brain cell therapy ‘promising’ for Parkinson’s disease 1810
- Trump pushed into bombing Syria 1857
- Thailand discovers Power of Women Travellers 1825
- Economics of gambling 1705
- Trans National Aural Identity 3392
- Queen Anula The Shadow of Cleopatra 3418
- Poetry and its possibilities Part 2 3433
- The Enigma of Labyrinths 3544
- From Couture to Kutir 3427
- Hybrid Sources 4829
- Offering Riddles & Enigmas 4884
- Poetry and its possibilities 4922
- With a festive bang! 1047
- Easter Fun 1036
- Arrogance and crowing is the way of the doomed 1069
- Avurudu on the streets 1084
- Tick control 1061
- Sunny Sunday on the beach 1055
- It’s time to save the world 1118
- From viewer to YouTuber! 1117
- Expert skincare and makeup 1142
- Avurudu at Induruwa 1103
- Exo 1131
- Remembering our fallen heroes 2224