16 July,2011 06:36 AM IST | | Sudeshna Chowdhury
At exchange4media Conclave 2011, presented by the Jagran Group, several market leaders expounded on the changing media trends in the present Era
The exchange4media Conclave 2011, presented by the Jagran Group, was organised at the ITC Grand Central in Parel (E) yesterday. The event saw enthusiastic participation from various market leaders, who shared their views various issues revolving around the broad topic: 'Reshaping Media Priorities For The New Marketing Era'.
Tracking trends: Participants at the exchange4media Conclave 2011,
organised by the Jagran group, in the city yesterday. Pic/Pradeep Dhivar
Nitin Paranjpe, CEO and MD of Hindustan Unilever Ltd, put forward his views on the changing trends in consumerism and marketing. Dominic Proctor, CEO of Mindshare Worldwide, addressed the gathering on business priorities and models that could prove profitable for media agencies in the future.u00a0 Expounding on the challenges faced by the Indian media, Proctor opined, "The aim should be to move talent more easily round the world."
Dominic Proctor, CEO of Mindshare Worldwide
He also emphasised that companies should not focus only on revenue earnings and profits, but also in developing a "diverse talent pool", which would yield long-term returns. Reiterating the importance of roping in external sources, he concluded, "The open-source collaboration model is the way forward."
Mike Cooper, CEO of PHD Worldwide, also took part in the event
Following the address, the speaker welcomed questions and comments from the audience. On being asked about the possible ways of circumventing risks involved with the launch of new products, Proctor replied, "Getting smart people from different walks of life is the solution." Mike Cooper, CEO, PHD Worldwide, gave an address on the relationship between brands and the social media.
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Stressing on the growing power of the social media, he pointed to the direct correlation between a company's financial performance, and the investment it makes in the social media. Illustrating his point, he sited the use of the micro-blogging site Twitter by various big brands, to launch their products and increase profits.
"In India, the social media industry is bound to grow," said Cooper. The other sessions dealt with a variety of subjects ranging from meaningful communications, the evolving markets and the realigning of media to meet public expectations.
