According to a statement released by the American chipmaker on 18 September, Analog Devices (ADI) and the Indian giant Tata Group have inked a pact to examine the possibility of manufacturing semiconductor goods in India.
To construct India’s first semiconductor production facility in the state of Gujarat and a chip-assembly and testing facility in the state of Assam, the electronics-manufacturing arm of the 156-year-old business, Tata Electronics, intends to invest a total of $14 billion.
At the beginning of this year, India gave its approval for the construction of the semiconductor plant owned by the Tata Group.
According to a statement released by Analog Devices, Tata Electronics, and Autodesk want to investigate the possibility of manufacturing ADI’s products in the facility located in Assam and the manufacturing plant located in Gujarat that belongs to Tata Electronics.
Prime Minister Pushing to Make India a Hub of Semiconductor Manufacturing
In the past, the Prime Minister of India has expressed his desire to establish India as a global centre for the design, production, and development of technology related to semiconductors. He has previously indicated that the semiconductor business in India is on the verge of a revolution, and that the industry is going to undergo a transformation as a result of breakthroughs.
“India as it exists today instills confidence in the rest of the globe. It is possible to place an investment on India while the chips are down,” he said.
For the semiconductor manufacturing industry around the world, which is currently experiencing a churn as a result of increasing tensions between the United States and China, Modi’s comments came at a crucial time. There is a chance that prominent chip makers like Taiwan would be targeted, which might create chances for countries like India, which has significantly increased its capacity to produce semiconductors domestically.
In the beginning of this month, the state of Maharashtra has announced that Adani Group and Tower Semiconductor, which is based in Israel, would come together to invest $10 billion in a chip project. Additionally, the semiconductor division of the infrastructure company Larsen & Toubro, which is responsible for the design of semiconductors for automobiles, intends to construct a factory in the future as well.
Specifications of the Deal
ADI’s products will also be utilised by Tata Motors in the production of electric vehicles, as well as by Tejas Networks in the development of their telecom infrastructure, according to the firms.
The companies did not provide any information regarding the products that would be manufactured in India or the products that Tata would want to use.
There have been announcements made by multinational corporations such as NXP Semiconductors and Micron regarding their intentions to invest and construct facilities in the country.
Hero MotoCorp, an Indian company, is planning to make its debut in developed markets by introducing electric scooters operating under the Vida brand. As per the company’s plan, it will launch its brand in the UK, France, and Spain by middle of 2025. Hero is making its first foray into the markets of the UK and Europe with the intention of capitalizing on the rising demand for electric vehicles in these regions.
The action, which coincides with ongoing discussions between India and the United Kingdom regarding a free trade agreement, has the potential to reduce tariffs in the automobile industry, thereby giving additional prospects for growth.
Niranjan Gupta, the chief executive officer of Hero, was quoted by a media outlet as saying that the strong customer mood in these regions towards their electric scooters was underlined. In order to successfully manage the transition towards electric transportation, the corporation, which is already a key participant in Asia, Africa, and Latin America, intends to capitalize on this kind of enthusiasm.
However, analysts feel that in order for Hero to achieve success in these developed regions, it will be necessary for the company to provide products that are more expensive and premium. This is a market sector in which Hero has not yet established a solid presence.
An Alliance Between Hero and Harley-Davidson
Due to Hero’s existing collaboration with Harley-Davidson, the company is able to manufacture motorcycles for the Indian market that are associated with the legendary brand. As the existing relationship between the two companies is only confined to India, Gupta pointed out that the expansion of Harley-Davidson’s shipments to the United Kingdom would be contingent on future agreements with the Milwaukee-based company.
The expansion of the company into Europe comes at a time when India’s vehicle emission rules, which were upgraded in 2020, are now in compliance with worldwide laws, which opens up new opportunities for Indian manufacturers. The imposition of higher tariffs on Chinese imports has opened up new opportunities for Indian manufacturers such as Hero to sell their products in developed countries. However, Hero will have the issue of successfully presenting its luxury motorcycles alongside its electric scooters in areas that are accustomed to higher-end models. This will be a challenge for Hero because it will be difficult to navigate the competitive landscape.
Hero Motocorp’s Sales Report Card of August 2024
For the month of August 2024, Hero MotoCorp announced sales of 512,360 units, which is a month-on-month increase of 38 percent. Year-to-date sales for the automobile manufacturer have increased by 8% when compared to the same period in the previous year. During the month of August 2024, other automotive manufacturers, on the other hand, had a decreasing trend.
The total number of vehicles sold by Tata Motors was 71,693 less than the 78,010 units that were sold in August 2023. This is an 8.1% decrease in overall sales. In a similar vein, Maruti Suzuki, another significant player in the automobile industry in India, saw a decrease in overall sales of 4% compared to the previous year.
On 18 September 2024, in New Delhi, the Artificial Intelligence (AI) and Machine Learning (ML) based Trademark Search Technology and IP Saarthi Chatbot were unveiled to the public by Piyush Goyal, Union Minister of Commerce and Industry.
The search technology would enable faster clearance of trademark applications in a manner that is both more efficient and accurate, according to Goyal, who made this statement during the inaugural event. In addition to this, he expressed the expectation that the platform would be able to resolve trademark-related problems and said that the incorporation of official languages into the updated editions would establish this search module as a standard in the entire world. Speaking about the debut of the search module and the IP chatbot, the Minister mentioned that the quality of patent disposals will also increase.
He also mentioned that the government is trying to combine technologies based on artificial intelligence and machine learning to expedite the clearance of designs. Furthermore, the Minister emphasized that artificial intelligence tools that are controlled by the government should be compatible with devices that have all user interfaces and a variety of technological equipment to facilitate speedier adoption.
Elaborating on the benefits of AI-powered IP Chatbot, Rashmi Kulkarni, Co-founder & Director of IndoAI Technologies Pvt. Ltd. stated, “The AI-powered IP Chatbot introduced by Piyush Goyal offers several tangible benefits, particularly in simplifying the intellectual property (IP) management process. One of the key advantages is its ability to provide real-time assistance for common IP-related inquiries, helping users—especially startups, small businesses, and first-time applicants—navigate the often complex legal and administrative procedures of IP registration.”
“By offering 24/7 access to information, the chatbot eliminates the need for individuals to rely on human assistance during working hours, which can result in faster resolutions to queries and significantly reduce waiting times. The chatbot can guide users through trademark registration, patent filings, or copyright issues, thus enhancing the overall user experience,” she added further.
Adding further on that note, Dipal Dutta, CEO & Founder- RedoQ opined, “In India, a business or an individual had to wait two to three years after making a patent application to get a product registered. Such a long patenting period was detrimental to the businesses as it delayed the products’ entry into the market. Hopefully, the newly launched AI-powered trademark search module will expedite the process allowing the companies to register the products quickly. The new tool could be very handy, especially for startups and emerging businesses who do not always have large capital to sustain through the ideation phase.”
“The integration of the IP Saarthi Chatbot is also a practical solution for assistance with the IP registration system. The chatbot will help users, particularly those new to the process, understand the steps involved and avoid common pitfalls,” he explained further.
Steps Taken by the Government to Encourage Innovations
According to Goyal, the process of women submitting patent applications has undergone a significant alteration over the past ten years. According to the Minister, the decision to decrease the costs that are collected for patents by 80% for startups, micro, small, and medium-sized enterprises (MSMEs), women entrepreneurs, individuals, and academic institutions was made in order to promote innovators.
The Trade Connect e-Platform, the Jan Sunwai Portal, the ECGC’s new online service portal alongside a revamped in-house SMILE-ERP system, BHASKAR – the one-stop shop for everything a startup needs, and the Trademark Search technology today are the five technology-based services that were launched in a single week.
Deepak Syal, Director, GreyB Services stated, “Just as UPI took complex banking functions and put them in the hands of everyday people, this tool by the Ministry of Commerce and Industry has simplified the intricate and often confusing world of IP law, making it accessible to everyone. When you take something as powerful as intellectual property—fueling innovation and creativity—and make it as easy to navigate as sending a text, you spark a revolution. This AI tool has simplified a system historically locked behind layers of bureaucracy and legalese. Now, both the solo entrepreneur running a startup in a Tier III city and the employee of a large organization in Bangalore can gain clarity on how to manage their ideas.”
“Like most legal matters, obtaining a trademark has always been complex and expensive. It needs time, money, and legal expertise. But now, technology offers a positive change. AI promises to make securing trademarks easier and faster,” opined Mahesh Maan, Data Scientist, GreyB Services
Goal of DPIIT
With the introduction of its Artificial Intelligence (AI) and Machine Learning (ML)-based Trademark Search technology, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry intends to transform intellectual property management.
Key Features of New Technology
Advanced AI and ML algorithms for precise trademark identification
Streamlined search processes for domestic and international businesses
Enhanced protection capabilities for trademarks
This significant technological advancement demonstrates India’s commitment to developing an intellectual property environment that is strong, efficient, and user-friendly. This serves as a monument to the efforts that the government has made to streamline intellectual property procedures, which will be of advantage to inventors and policymakers on a worldwide scale.
In preparation for the introduction of its first electric vehicle, a midsize SUV known as Concept eVX, which is scheduled to take place in January 2025, Maruti Suzuki India intends to install close to 25,000 electric vehicle charging stations. Aside from utilizing its more than 5,100 service centers located in 2,300 cities, the leading automobile manufacturer in the country is also in discussions with oil marketing companies (OMCs) and energy companies to establish a charging ecosystem.
Through their combined efforts, Indian Oil, Bharat Petroleum, and Hindustan Petroleum operate more than 81,000 retail stores across the nation, thereby controlling approximately 90 percent of the retail market!
It has been reported in the media that Maruti has begun conducting a study of their dealer workshops in search of charging points. Each of its service centers is going to be equipped with at least one dedicated bay and two charging stations, according to the plan. Training for service mechanics has already begun in Bengaluru.
How Maruti Is Planning to Execute Its Plan
Through their combined efforts, Indian Oil, Bharat Petroleum, and Hindustan Petroleum operate more than 81,000 retail stores across the nation, thereby controlling approximately 90 percent of the retail market!
Hisashi Takeuchi, the managing director of Maruti Suzuki, stated this week at the 64th Annual Convention of the Society of Indian Automobile Manufacturers (SIAM) in New Delhi that the company will develop a variety of solutions for its electric vehicle (EV) clients in order to lessen their concerns around the ownership of an EV. According to what he said, company would make use of the power of its network in order build confidence in its clients regarding their after-sale support.
Maruti intends to sell 3,000 units of the eVX within the first three months of its launch, with the cost of the vehicle being estimated to be between INR 20-25 lakh. The electric sport utility vehicle (e-SUV) will be manufactured at the company’s plant in Gujarat. Maruti intends to launch a total of six to seven electric vehicles over the following six to seven years.
Is It the Right Time to Enter in EV Domain?
Maruti is currently entering the segment at a time when sales in India’s emerging electric vehicle market have reached an eight-month low. According to data obtained from the Vahan portal of the government, electric vehicle sales in August were 6,335 units, representing a year-on-year decrease of 10%. The reduction can be attributed to a number of causes, including problems with the charging infrastructure, concerns about range, and high starting pricing.
It is not uncommon for automobile manufacturers to get their ecosystem ready before the launch of their first electric vehicle (EV), and then to continue growing it through collaborations with a variety of stakeholders.
Tata Motors, the market leader in electric vehicles (EVs), distributes five different models of electric vehicles and has established 5,600 public charging points. Meanwhile, Tata Power Renewable Energy, the business’ sister company, constructed 101,924 residential charging connections.
By broadening the scope of the Gaganyaan program, the Union Cabinet, which Prime Minister Narendra Modi leads, has approved the construction of the first unit of the Bharatiya Anatriksh Station. The cabinet has given its approval for the development of the first module of the Bharatiya Antariksh Station (BAS-1) and for the undertaking of missions to demonstrate and validate various technologies for the construction and operation of the BAS. It is necessary to amend the scope and funding of the Gaganyaan Programme to incorporate new advances for BAS and precursor missions, as well as additional requirements to fulfill the Gaganyaan Programme that is now in operation.
Revisions were made to the Gaganyaan Programme to incorporate the scope of development and precursor missions for the BAS, as well as the necessity of incorporating one extra uncrewed mission and additional hardware requirements for developing the Gaganyaan Programme that is now underway. The human spaceflight program of technological development and demonstration is currently in the process of completing eight flights, with the first unit of BAS-1 being launched in December 2028 to bring the program to a successful conclusion.
Details of Gaganyaan Program
A human trip to Low Earth Orbit (LEO) is one of the goals of the Gaganyaan Program, which was approved in December of 2018. Additionally, this program intends to establish the basis of technologies that will be required for an Indian human space exploration program in the long run. In the Amrit Kaal, the vision for space includes the establishment of an operational Bharatiya Antariksh Station by the year 2035 and the Indian Crewed Lunar Mission by the year 2040. Developing and operationalizing technologies that are necessary for long-term human space missions and future exploration to the Moon and beyond is a significant endeavor that is being undertaken by all main spacefaring nations.
Under the direction of the Indian Space Research Organisation (ISRO), the Gaganyaan Programme will be a national initiative that will involve industry, academia, and other national agencies as stakeholders. It is planned that the program will be carried out using the project management mechanism that has been built inside ISRO.
ISRO will carry out four missions as part of the existing Gaganyaan Programme by the year 2026. Furthermore, by the year 2028, ISRO will carry out four missions for the demonstration and validation of various technologies for the BAS.
How These Initiatives Will Strengthen India’s Space Presence
To better prepare for human space flights to Low Earth Orbit, the nation will acquire the necessary technological skills. The Bharatiya Antariksh Station, which is a national space-based facility, will be particularly beneficial to the advancement of scientific research and technological development activities that are based on microgravity. Because of this, technical spin-offs will be created, and discoveries in important fields of research and development will be encouraged accordingly. It is anticipated that increased industrial participation and economic activity in the human space program would lead to a rise in the development of employment opportunities, particularly in specialized high-technology areas within the space industry and related industries.
The overall financing for the Gaganyaan Programme with the altered scope has been increased to INR 20193 Crore, which came about as a result of net additional funding of INR 11170 Crore in the program that has already been approved.
California [USA] September 19: Artificial Intelligence (AI) is rapidly transforming various industries, and the pharmacy sector is no exception. With over 12 years of experience in regulatory compliance, medication therapy management, and health insurance exchanges, Fayazoddin has witnessed firsthand how AI is reshaping pharmacy operations, optimizing patient care, and enhancing regulatory compliance. AI’s integration into pharmacy is not merely a technological trend but a fundamental shift that promises to redefine the future of healthcare.
AI Applications in Pharmacy
1. Medication Therapy Management (MTM) and Personalized Care:
AI has significantly enhanced MTM programs by providing personalized medication recommendations and monitoring patient adherence. Advanced algorithms analyze patient data, including medical history, genetic information, and current medications, to suggest the most effective treatment plans. This personalized approach not only improves patient outcomes but also minimizes the risk of adverse drug reactions, making healthcare safer and more efficient.
2. Regulatory Compliance and Risk Management:
In my role as a Senior Regulatory & Compliance Analyst, ensuring adherence to complex regulatory standards such as HIPAA, CMS, DEA, and FDA guidelines is a daily challenge. AI-driven tools have revolutionized compliance management by automating the tracking and reporting of compliance metrics. These tools can quickly identify potential compliance breaches, conduct risk assessments, and streamline the audit process. By reducing manual oversight, AI allows pharmacies to maintain high standards of compliance with reduced effort and increased accuracy.
3. Enhancing Pharmacy Operations:
AI’s ability to optimize pharmacy operations cannot be overstated. From automating routine tasks such as prescription filling to managing inventory levels, AI-driven systems reduce human error and increase efficiency. Predictive analytics, for instance, can forecast inventory needs based on historical data, seasonal trends, and current demand, ensuring that pharmacies are always well-stocked with essential medications. This leads to better service for patients and more streamlined operations.
4. Drug Discovery and Development:
AI has opened new frontiers in drug discovery and development. Machine learning algorithms can analyze vast datasets to identify potential drug candidates, predict their efficacy, and accelerate the overall development process. This has the potential to significantly reduce the time and cost associated with bringing new drugs to market, ultimately making life-saving medications more accessible to patients worldwide.
5. Patient Engagement and Support:
AI-powered chatbots and virtual health assistants are transforming the way pharmacies engage with patients. These tools provide 24/7 support, answering patient queries, scheduling appointments, and even offering medication reminders. By enhancing patient engagement, AI not only improves adherence but also empowers patients to take an active role in their healthcare journey.
The Future of AI in Pharmacy
The integration of AI in pharmacy is still in its early stages, but the potential for growth is immense. As AI technologies continue to evolve, we can expect to see even more innovative applications that will further enhance patient care, streamline operations, and ensure compliance with regulatory standards. However, the successful implementation of AI in pharmacy will require a collaborative approach, involving pharmacists, regulatory bodies, and technology providers working together to address challenges such as data privacy, algorithmic bias, and the need for standardized AI protocols.
In conclusion, AI is not just a tool; it is a transformative force that is poised to revolutionize the pharmacy sector. By leveraging AI, we can create a more efficient, personalized, and compliant healthcare system that puts patients first. As someone deeply embedded in this industry, I am excited to be part of this journey and look forward to the continued evolution of AI in pharmacy.
About Fayazoddin Mohamad
With over 12 years in the pharmaceutical industry, Fayazoddin Mohamad excels in regulatory compliance and pharmacy management. He ensures pharmacies adhere to regulations while improving efficiency and patient safety. His expertise includes health insurance exchanges, Medicare Medicaid rules, and HIPAA compliance. Fayazoddin has worked with top organizations like Rite Drugs LLC and Anthem Inc. and holds certifications in SAFE 4.5 Product Owner, Agile Scrum Master, and DevOps Testing Lead. His meticulous approach and strategic oversight drive successful pharmacy operations and regulatory adherence.
Fayazoddin’s extensive experience and strategic insights have made him a key player in optimizing pharmacy practices and ensuring robust compliance. His hands-on approach to managing complex projects and coordinating audits reflects his dedication to enhancing healthcare delivery. Fayazoddin continues to be a driving force in advancing regulatory standards and operational excellence in the pharmaceutical industry.
This article has been contributed by Atul Anand, Director – Business Strategy (Industrial & Logistics), XRE Consultants.
First thing First, how I see blockchain is as a collection of blocks (because it is a collection, hence it is called blockchain) which are encrypted in a particular manner and are irreversible (means you can add but can’t amend or delete), and these blocks are stored at multiple locations at the same time in the network. This way records become tamperproof. This is a boon for supply chains that need pointed information for every step in the journey of product/information.
Revolutionary & Transformative
Blockchain technology adoption in the supply chain is bringing revolutionary & transformative changes in supply chain management. Drawing from my experiences in India and the broader APAC region, I have seen firsthand the profound impact this technology can have on enhancing transparency, efficiency, curbing fakes, and building trust within supply chains. Blockchain is making the supply chain more resilient than ever.
Transparency
Transparency, a somewhat illusionary word in supply chain, is now finding its true meaning where the users can see complete transparency & visibility by adopting blockchain technology and thus removing the mistrust from the stakeholders. Blockchain addresses the transparency challenge by creating a decentralized and immutable ledger that records every transaction. This transparency ensures that all stakeholders have access to the same information, fostering a culture of trust and collaboration.
In overly complex & fragmented supply chain like in India, the implementation of blockchain has been a notable change. For example, Blockchain technology has affected positively, the agricultural sector by enabling farmers to track their crops from the farm through the consumer’s table. Such advanced traceability guarantees the delivery of fresh and genuine products to the consumers thereby improving their confidence in what they consume. Furthermore, it provides farmers with useful information concerning the market requirements and prices of its products and thus helps make the right decisions and improve performance.
Blockchain Users Around the World
Automation
Blockchain automates processes which reduces the need for human intervention, eliminating human errors that result in a reduced need for manpower, administrative cost is reduced, transactions become efficient, and automation streamlines operations & thus overall efficiency increases & cost reduces.
In the APAC region, for example in the electronics industry supply chains span multiple countries and many a time use intermediaries, adoption of blockchain in procurement reduces lead times, lowers procurement costs, reduces lead times & eliminates the need for intermediaries, real-time visibility increases efficiency & lowers the cost.
Trust & Security
Trust being a critical part of any supply chain’s robustness is a winning block brought upon by blockchain with conviction. The distributed database characteristic of blockchain ensures that no single one can muffle & has control over the entire supply chain, thus reducing the risk of fraud and manipulation. Each transaction is securely recorded and cannot be altered, providing an irreversible record of the product’s journey.
In India, fake & counterfeit goods are a great concern, blockchain has proven valuable apparatus in combating fakes and counterfeits. For instance, in the pharmaceutical industry, blockchain has been used to track the movement of drugs from manufacturers to consumers, ensuring that only genuine products reach the market. This not only protects consumers but also helps legitimate businesses keep the trust of the customers & their reputation and business volumes.
Blockchain technology brings great bonhomie & collaborationamong the stakeholders in the supply chains. Being the source of truth for a particular supply chain instance, blockchain ensures that all collaborators have access to the same information, eliminating misunderstandings and disputes. This improved collaboration leads to more efficient and effective supply chain operations.
Supply chains often involve multiple stakeholders with varying levels of technological sophistication because of geography positioning, and technology adoption of blockchain has helped better collaboration. For example, in the automotive industry, blockchain has been used to coordinate the production and delivery of components, ensuring that all parties are aligned and working towards the same goals. This has resulted in smoother operations and improved product quality.
Blockchain in Supply Chain- Challenges & Way Forward
In the future, blockchain technology has the potential to become an “Operating System” for supply chains but it is not free of challenges. There are several issues on regulatory compliances, scalability & interoperability to make blockchain technology widely accepted & adopted. However, the sun is shining bright on blockchain technology as more technological advancements are coming along & awareness about blockchain technology is increasing exponentially.
Let me touch on some of the concerns of blockchain technology. For me, many of the challenges are easily resolvable & superficial to an extent. However, listening to the critique makes technologies robust and going forever.
The ability to handle Mammothness of transactions in the future is a cause of concern as it is feared it might result in slower processing times & higher associated costs. However, it will be sorted by enhancing the technology to build blockchains.
Integrating blockchains is not easywith different systems & platforms. It is a cause of concern because different partners in blockchain use different systems & protocols. It makes integration complex, time-consuming & costly. However, as we see large benefits of blockchain technology, in the future, I hope to see some common protocols that will make integration easy.
Regulatory hurdles as countries don’t have standard regulations & complicate the implementation of blockchain in international supply chains.
High Consumption of energy in blockchain technology adoption raises concerns about the environmental impact & there is a need to work on this front to take this negative notion about blockchain.
Like every other data, data privacy & security is a rightful concern. Putting the ever-evolving layers of security on data is of paramount importance.
Lack of knowledge about the benefits of blockchain among the stakeholders creates doubts about blockchain technology and this results in a lack of adoption.
In conclusion, blockchain technology has the potential to transform supply chain management by enhancing transparency, efficiency, trust, and collaboration. Drawing from my experiences in India and the APAC region, I have seen how this technology can address the most pressing challenges in supply chain management. As we continue to explore and harness the power of blockchain, we can look forward to a future where supply chains are more transparent, efficient, and resilient.
This article has been contributed by Anubhav Pandey, Chief Strategy Officer, Consortium Gifts
Consumer behavior is all about the steps people take when deciding to buy and use a product or service. Thus, with the development of society, emergence of different cultures, economies grow, the nature of these decisions also transforms. Today consumers are driven by factors such as better lives, improved technology and a connected world. Understand and analyse these trends and shifts are very crucial for an effective marketing strategy. Let’s take a look at some current trends that are impacting how consumers make decisions:
Artificial Intelligence and Machine Learning
AI and ML are slowly revolutionizing how corporate entities within the market analyze and forecast consumers’ behavior. This lack of focus on the details of purchasing decisions causes a shortfall when compared with traditional survey techniques, which may give less clear, less accurate, pictures of consumer behaviour. Whereas, AI and ML can present a better and accurate picture of the direction consumers are heading. It is possible to forecast follow up purchases the customer is likely to make, the frequency of such purchases, and even when the customer is likely to leave your website’s shopping cart. For example, the case of Netflix. Its recommendation system is based on a machine learning algorithm that suggests what kind of show or movie you might like to watch next.
Today’s consumer expects a convenient shopping experience facilitated by the increased cases of e-commerce. Amazon and Zomato are some of the modern platforms that have changed the approach to presenting products for sale and availability of products, where options like one-click purchase and ‘fifteen minutes delivery’ exist. These innovations have set standards of operations for consumers in different industries hence becoming the benchmark for businesses to follow.
Social Media Analytics
If we take India into consideration where there are over 800 million internet users, social media plays a strategic role for analysis of consumers. Social media analytics can be used to monitor customers’ attitude towards a particular brand, the general trends in the market, and even the sentiment of the public. Social media pioneers like Instagram and YouTube have tremendous influence over the buying behavior particularly among the youths. Research found that 63 per cent of Gen Z believe in Influencer marketing more than the typical brand commercials. It has further led to increase in influencer marketing since brands have allocated huge budgets for collaboration with social media influencers. Furthermore, SMM facilitates the analysis of social media sites and help business to market their products in the right way to the right audience.
Personalisation
Although personalisation was once an experimental concept, it has become mandatory in today’s marketing environment. The audience now wants specific experiences provided by brands that are unique to the individual. Often, through considering the user’s preferences, the companies that apply personalisation keep the attention of users longer, for instance, Netflix offers shows advisors, as well as Spotify offers users’ special compilations of tracks.
Machine learning based applications observe people’s behavior, thereby defining unique and passionate experiences. Such specificity of the approach is not only designed to improve the customer experience but also to compel him or her to return for the next consumption occasion. One can conclude that the more a brand focuses on personalization, the better it is for the brand’s relationship with its audience.
Data-driven Insights
Consumer behavior analysis has been revolutionised through data proliferation. A McKinsey study revealed that companies leveraging advanced analytics have seen a 20 per cent increase in customer satisfaction and a 15 per cent boost in revenue. Through text mining method unstructured data such as social media posts and customer reviews can be analysed to extract insights. It helps addressing the common pain points and has a scope of improving customer satisfaction by 25 per cent. There is also natural language processing or NLP which enables computers to understand and interpret human language, facilitating sentiment analysis and customer feedback analysis. Examining data points collected over a series of time is a great way to identify patterns and trends.
Social Proof
Word of Mouth influence through social media is rising to be a significant power that drives the consumers. Endorsements from fellow consumers especially within the social media platforms play a big role towards the sell of a product. On the other hand, negative comment may discourage the potential customers.
Data Visualisation and Storytelling
Data visualisation is an essential tool for understanding consumer behaviour. Interactive dashboards and infographics make complex data easy to digest, allowing businesses to spot trends and adjust strategies quickly. Real-time insights help companies stay agile, responding to market shifts as they happen.By presenting data in a visually appealing and accessible way, businesses can make more informed decisions. Data visualisation also enables companies to communicate insights across teams, driving collaboration and encouraging data-driven decision-making at all levels.
Neuromarketing and Biometrics
These are one of the most advanced form of tools. These methods include electroencephalography to measure brain activity to understand emotional responses and cognitive processes to identify most effective advertising stimuli and assess brand perception. The eye-movements can also be tracked and analyse to decode the areas of interest and attention. It is also helpful in revealing which elements of a website or ad are most engaging and inform design decisions. Marketers also use galvanic skin response as a strategy to measure physiological changes, such as sweating, to assess emotional arousal. It gives insights to emotional impact of marketing campaigns and identify products that evoke strong emotional responses.
Identifying all interactions between a customer and a brand is crucial. A previous Bain & Company study established that companies that mapped their customer journeys have witessed a 25 per cent increase in customer satisfaction as it can identify pain points, optimize experiences, and increase loyalty. Businesses now also perform a behavior flow analysis by studying the sequence of customer actions and decisions to reveal the hidden patterns, identify bottlenecks, and inform marketing strategies. Another very useful tool in mapping consumer journey are heatmaps, which basically visualise customer engagement with websites and apps. The role of heatmaps in optimizing website design, improving user experience, and increasing conversions is crucial.
Ethical Considerations and Data Privacy
The post-cookie era is encouraging a new age of privacy-first marketing. While collecting consumer data is essential to analyse consumer behavior, it is also important to implement policies and procedures to ensure data quality, security, and compliance. We are at a stage where every business need to prioritise transparency, consent and ethical data practices to succeed and grow. Hence, consent in the king here. To increase transparency and trust, it is crucial to obtain customers’ clear consent for gathering and using their data. Data anonymisation and pseudonymisation are useful methods to avoid data leakage and safeguard customers’ private data. Privacy-preserving technologies like differential privacy and privacy-preserving measurement can be utilised to enable brands to measure campaign effectiveness and analyse user data without compromising individual privacy, ensuring that marketing efforts remain both effective and ethical.
Conclusion: The Human Touch
While technology plays a pivotal role in analysing consumer behaviour, maintaining a personal connection remains essential. Brands that combine data-driven strategies with genuine empathy and meaningful interactions can stand out in today’s crowded marketplace. Balancing innovation with a human touch is the key to building strong, lasting relationships with consumers. As technology continues to evolve, businesses must adapt while keeping the customer at the heart of everything they do.
BITS Pilani is launching IGNITE 2024, its flagship startup pitching competition, on November 9th-10th at the BITS School of Management (BITSOM), Mumbai. Aimed at early-stage startups, this event offers an unparalleled chance to pitch to over 70 of India’s leading venture capitalists and angel investors, including Anthill Ventures, Acumen, and Unicorn India Ventures. Startups will have the opportunity to secure crucial investments and build long-term relationships that can accelerate their growth journey.
IGNITE 2024 isn’t just about the pitch instead it’s about creating lasting and impactful connections. The top startups will be granted exclusive access to a network of incubators, built in collaboration with the event’s key stakeholders. These incubators span across the country, providing selected startups with co-working spaces, mentorship, resources, and industry expertise. This ecosystem will help startups refine their ideas, enhance their product-market fit, and scale efficiently, giving them the support they need to succeed.
Startups competing in IGNITE 2024 stand to benefit from a prize pool of over 1 million+ and $25,000 in tech credits. Beyond financial rewards, the top 100 startups will receive a chance to incubate at PIEDS, BITS Pilani’s startup incubator.
BITS Pilani, with its long-standing legacy of fostering entrepreneurial talent and innovation, ensures that IGNITE 2024 transcends the conventional startup competition model. Leveraging its deeply connected alumni network and proven track record of producing successful ventures, BITS Pilani aims to embed participants into one of the most vibrant and influential startup ecosystems in India. Startups will not only compete for funding but also become part of a larger community that champions innovation, collaboration, and business growth.
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IGNITE 2024
The application deadline for IGNITE 2024 is September 22nd. Startups eager to scale their businesses and be at the forefront of India’s innovation wave should not miss this opportunity. Apply here to secure your place and take your startup to the next level.
For more information and to apply, visit: www.ignite-bitspilani.org
While Ola Electric, a manufacturer of battery-powered scooters, is struggling to deal with an increasing number of service complaints from consumers, the company has decided to form a new support team.
As a result of the approximately 80,000 complaints that the Bengaluru-based company has been receiving each month, the company’s service centers are having a difficult time keeping up with the volume of complaints. According to a media report, there are days when the number of clients reaches a peak of 6,000 to 7,000 per day, which results in lengthy delays, leaves service staff feeling stressed out, and makes customers frustrated.
In order to tighten its focus on its service operations, the manufacturer of the S1 line of electric scooters has assembled a new team, which includes employees from the product and operations divisions, amongst others.
Sales of Ola Scooter Deteriorating
The problem of service delays that Ola Electric is experiencing corresponds with a decrease in sales. It saw its lowest monthly sales of the year in August, selling 27,506 units, which is a 34% decrease from July’s total. Additionally, its market share dropped from 39% to 31% during this month. In the market for electric two-wheelers, competitors Bajaj Auto Ltd. and TVS Motor Company Ltd. continue to maintain their levels of stability.
Based on the information provided on the company’s website, Ola Electric has successfully sold more than 6.8 lakh electric scooters since its beginning. Additionally, the company has 430 service stations throughout the country.
Lack of Personnel and Resources
Numerous users have referred to the Ola electric service station as a “graveyard of scooters” due to the fact that the entire area is cluttered with about 500 to 600 scooters that have broken down. A group of four technicians is having trouble keeping up with repairs that require a crew of ten, according to a story that was published in the media.
As a result of the removal of the authorised service board from the centre, consumers are left wondering when or if their vehicles would be repaired. After the company closed a service centre in New Delhi, the situation became much more dire, and some customers from that area have even gone so far as to approach the authorities after waiting for repairs for more than six weeks.
Ola’s Market Report
Ola Electric’s recent market share loss was identified as a “risk” for the company by the broking firm HSBC last week, and the company’s sales volume predictions for FY25-26 were reduced by 15-20% following the announcement. The shares of the corporation, on the other hand, experienced a 10% increase and reached the upper circuit on September 17th, following the introduction of coverage on the stock by Bank of America and Goldman Sachs. By placing their bets on the company’s market leadership and efforts to vertically integrate, the brokerages forecast an upside of between 35 and 50 percent.
In a research published on September 17, Bank of America stated that electric two-wheeler adoption in India is at “an important inflexion on EV curve” due to the fact that e-scooters are currently priced lower than petrol scooters. The report cited Ola as the largest electric two-wheeler company in India, which holds a share of approximately 40%. Bank feels that Ola has sorted out essential pieces of the electric vehicle puzzle, despite the fact that it is a new entrant. These critical pieces include a proven and expanding product range (not just a concept), decent financial availability, brand and distribution reach, research and development/technology focus, and a big addressable market, according to the report.
Nitin Konde
