Identify the market from the eye of a marketer and look for potential gaps. Leverage this understanding to suggest an innovation (product, distribution, packaging, promotion, place, etc.) which could exploit the market (either meeting unmet needs or delivering better value to the consumers) E.g.: Chik Shampoo– Smaller SKUs introduced for rural market by CalvinKare, after the marketers observed rural consumers had a tendency to buy in smaller quantities & were not “store-and-use” driven
Round 1:
Visit a nearby village, make observations on the lifestyle, the consumer goods bought by locals, any unmet needs, etc. You are free to choose any methodology you want.
VIDEO (2-3mins) – Glimpse of the rural setting, discovery of potential gaps, learning, methodology chosen (NOTE: members of the team need to present in the video)
EXECUTIVE SUMMARY (Not exceeding 1000 words) – Should reflect the video captured. It could include charts and pictures; an analysis of the demographics of the village, purchase behaviour; research methodology adopted and identified potential gaps. Also elaborate on the suggested innovation.
The top five teams will be called to campus for presentation of the detailed plan during the second and final round to be held during Backwaters.
This event which is open to business school students can have a maximum of three members per team. More details around the rules and regulations, reimbursement policy for finalists, and the submission template can be had from the event concept document which can be downloaded here
