One Big Idea by Sriram Kilambi: Keeping track of Indian consumers’ changing needs

12 Feb,2013

By Sriram Kilambi, President, Bloomberg TV India

 

A lot of us would remember this quote by Mahatma Gandhi hanging from our local grocer that went: “A consumer is the most important visitor on our premises. He is not dependent on us; we are on him. He is not an interruption to our work; he is the purpose of it. We are not doing a favour to a consumer by giving him an opportunity. He is doing us a favour by giving an opportunity to serve him.”

 

Indian consumers’ demand for goods and services has been growing with the integration of global markets and more importantly, there is growing quality awareness amongst the average consumers. As the Indian consumer matures, tastes are evolving rapidly and savvy marketers will need to keep pace with the change to survive.

 

The Mahatma’s words hold true for the Indian media as well. The media has to cater to the consumer’s varied needs and provide news that is useful, current and local. The opening up of the media landscape and the advent of international media houses saw the Indian players not just brush up their reportage but also the presentation of news.

 

If one looks at the business news genre, channels have realized that the Indian consumer is not satisfied with just news reporting but is more keen on understanding the effect of the news on their day-to-day life as well as on their profession and professional life. With globalization and opening up of the Indian economy, business news channels have broad-based their reportage to bringing on-board industry experts, bureaucrats and even international experts to analyze every incident, irrespective of it occurring at home or across the globe.

 

While news reportage is changing, players in the business news genre have understood that their viewers don’t want to be fed the stock and trade news on a 24×7 basis but also content that appeal to their intelligence and emotional quotient.

 

Bloomberg TV India, with the advantage of being a part of the global Bloomberg network, spotted this trend quite early and started tweaking its content to suit the consumers’ palate. Shows like Fight Back, The Assignment, The Date, The Pitch, and the recently launched mega debate series The Outsider with Tim Sebastian are testimony to the channel adapting to the viewers’ choice.

 

The Indian business news consumer, apart from demanding content suiting his choice, wants it on an as-it-happens basis. The internet explosion, advent of 3G, smartphones and tablets in India has made that possible. All telecom service providers are today offering 3G services, and media houses offer apps on smartphones and tablets which help the consumer to stay in touch with the happening around him/her in real time.

 

In a nutshell, the future for the media lies in keeping a finger on the pulse of the ever-changing needs of the consumer and staying in sync with it. Apart from that, media houses will have to ensure that the reportage and the presentation appeals to consumer and excites him enough to stay loyal. After all, the consumer is the king and we service providers have to bow to his wishes.

 

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One response to “One Big Idea by Sriram Kilambi: Keeping track of Indian consumers’ changing needs”

  1. Sanjay Rakecha says:

    Shree Sriramji I totally agree with u.

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