Most Innovative Practices of Marketing

Most innovative practices of marketing are well known to create penetration and depth in customer reach that have remained practically impossible for many successive ages. We would introduce here some of the greatest and most innovative & creative practices of marketing in the global business scenario.

It is now needless to say that innovation plays the leadership role in all functional disciplines of the business and marketing being the most rigorous and instrumental in creating the success stories of market penetration and expansion requires innovative measures and continuous research more persistently than other business functions. Following the globalization and its worldwide business trends most of the large corporations and aspiring small as well as medium companies are driving innovative marketing strategies and initiatives in the global scale to obtain better stability and reach in market. Most innovative practices of marketing are well known to create penetration and depth in customer reach that have remained practically impossible for many successive ages. We would introduce here some of the greatest and most innovative and creative practices of marketing in the global business scenario.

·          Marketing through Web(Online)

The present age is distinctly marked by the dominance of internet, web based services, mobile telephony and related technological as well as virtual world of communication. Naturally the practice of marketing also had to follow this and as a result the new world of web based marketing opened the door for all the small, medium and large business companies across the world. With the practice of web based marketing now a small or medium sized company can compete with a large multinational company in the marketing of services and products and web based marketing as one of the most innovative practices of marketing makes a wide array of innovations possible in different segments of products and services.

·          Effective Promotion through Social Media Marketing(SMM)

Social media sites in the present world of information technology users are most popular and the world population is increasingly becoming dependent on the sharing platforms of social media sites in various regards. Naturally large business companies have started to target these sites as the mass platform for the purpose of their brand promotion and various functions of marketing. Effective promotion through social media sites is considered to be one of the most innovative practices of marketing potential of which to target global audience is huge.

·          Marketing through new technological application

In the recent years we have witnessed number of mobility brands to come up with completely new range of software and product applications that paved the way for a new attitude towards marketing initiatives. Today it is a well-known fact that research in the user friendliness of the interface, operating platforms and content applications paved the way for the success of many large companies like Apple, Samsung, etc. This new approach of incorporating technological innovations into the marketing strategy is one of the most innovative marketing practices in the present era.

Pradhan Mantri Jan Dhan Yojna

Pradhan Mantri Jan Dhan Yojna

Prime Minister Narendra Modi on Thursday launched his government's mega scheme 'Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.

On the inaugural day, a record 1.5 crore bank accounts were opened across the country, the largest such exercise on a single day possibly anywhere in the world.

Unveiling the scheme within 100 days of forming the new government, Modi said, it will cover 7.5 crore people by January 26, 2015.

Here is looking at Five important features of the PM Jan Dhan Yojna

1. Under the scheme, account holders will be provided zero-balance bank account with RuPay debit card, in addition to accidental insurance cover of Rs 1 lakh.

2. Those who open accounts by January 26, 2015 over and above the Rs1 lakh accident, they will be given life insurance cover of Rs 30,000. 

3. Six months of opening of the bank account, holders can avail Rs 5,000 loan from the bank.

4. With the introduction of new technology introduced by National Payments Corporation of India (NPCI), a person can transfer funds, check balance through a normal phone which was earlier limited only to smart phones so far.

5. Mobile banking for the poor would be available through National Unified USSD Platform (NUUP) for which all banks and mobile companies have come together.

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About NITI Aayog

NITI Aayog will seek to provide a critical directional and strategic input into the development process.

In accordance with a key announcement made by Prime Minister Narendra Modi on Independence Day, the Union Government today established NITI Aayog (National Institution for Transforming India), as replacement for the Planning Commission. This comes after extensive consultation across the spectrum of stakeholders, including state governments, domain experts and relevant institutions.

NITI Aayog will seek to provide a critical directional and strategic input into the development process.

The centre-to-state one-way flow of policy, that was the hallmark of the Planning Commission era, is now sought to be replaced by a genuine and continuing partnership of states.

NITI Aayog will emerge as a “think-tank” that will provide Governments at the central and state levels with relevant strategic and technical advice across the spectrum of key elements of policy.

The NITI Aayog will also seek to put an end to slow and tardy implementation of policy, by fostering better Inter-Ministry coordination and better Centre-State coordination. It will help evolve a shared vision of national development priorities, and foster cooperative federalism, recognizing that strong states make a strong Nation.

The NITI Aayog will develop mechanisms to formulate credible plans to the village level and aggregate these progressively at higher levels of government. It will ensure special attention to the sections of society that may be at risk of not benefitting adequately from economic progress.

The NITI Aayog will create a knowledge, innovation and entrepreneurial support system through a collaborative community of national and international experts, practitioners and partners. It will offer a platform for resolution of inter-sectoral and inter-departmental issues in order to accelerate the implementation of the development agenda.

In addition, the NITI Aayog will monitor and evaluate the implementation of programmes, and focus on technology upgradation and capacity building.

Through the above, the NITI Aayog will aim to accomplish the following objectives and opportunities:-

·An administration paradigm in which the Government is an “enabler” rather than a “provider of first and last resort.”

·Progress from “food security” to focus on a mix of agricultural production, as well as actual returns that farmers get from their produce.

·Ensure that India is an active player in the debates and deliberations on the global commons.

·Ensure that the economically vibrant middle-class remains engaged, and its potential is fully realized.

·Leverage India`s pool of entrepreneurial, scientific and intellectual human capital.

·Incorporate the significant geo-economic and geo-political strength of the Non-Resident Indian Community.

·Use urbanization as an opportunity to create a wholesome and secure habitat through the use of modern technology.

·Use technology to reduce opacity and potential for misadventures in governance.

The NITI Aayog aims to enable India to better face complex challenges, through the following:-

·Leveraging of India’s demographic dividend, and realization of the potential of youth, men and women, through education, skill development, elimination of gender bias, and employment.

·Elimination of poverty, and the chance for every Indian to live a life of dignity and self-respect.

·Reddressal of inequalities based on gender bias, caste and economic disparities.

·Integrate villages institutionally into the development process.

·Policy support to more than 50 million small businesses, which are a major source of employment creation.

·Safeguarding of our environmental and ecological assets.