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Kapil Sharma
"Accessibility and affordability are the two most important factors that corporate India has to keep in mind if it is to successfully market to the bottom of the pyramid," said Mr K V Kamath, President, Confederation of Indian Industry and Managing Director and CEO, ICICI Bank Ltd.

Delivering the keynote address at the inaugural session of the Ninth CII Marketing Summit, Mr Kamath said that "while the opportunity exists for tapping the country's vast rural markets, the challenge is to invent a business model that is cost-effective. One needs to be able to conceptualise how to deliver value cost effectively. That's where the challenge is, as well as the opportunity and the excitement."

Detailing the path followed by ICICI Bank in creating its own brand identity and market, Mr Kamath said "it was the bank's foray into the consumer credit segment that shaped its growth. Similarly, businesses today have to come out with innovative but value-based pricing strategies to tap the country's largely unreached marketplace."

In this context, he said that technology would be a great facilitator. Referring specially to banking products, he said that the spread of mobile telephony could fuel the growth of the banking and financial services industry in the country. "In fact, mobile phone can now be used for all transactions where no physical transfer of goods is required."

Earlier, welcoming the participants, Mr Suhel Seth, Chairman, Marketing Summit 2008 and Managing Partner, Counselage India, pointed out that marketers must realise that "market creation was as important as retaining market share. While strength of a brand is important, it must not be forgotten that it is the consumer who drives the brand."

In his concluding remarks, CII Director General, Chandrajit Banerjee, said that organizations today are orienting themselves to the changing market dynamics. "It is an opportunity that Indian industry must not miss, specially in today's globalised world." He highlighted the CII's role in taking products and services to the rural populace and said that "it was a market that was yet to mature."

The theme of the Summit is "Marketing to the bottom of the pyramid0-How relevant and in what measure achievable in the Indian context" and key speakers include Mr Thomas Puliyel, President IMRB International, Mr Arvind K Singhal, Chairman Technopak, Mr Rohtash Mal, Head, Brand and & Marketing Communications, Tata Teleservices Ltd, Mr Piyush Pandey, Executive Chairman & National Creative Director, Ogilvy & Mather India, Mr Alyque Padamsee, President, AP Advertising Pvt Ltd & Chairman, London Institute of Corporate Training, Mr Prashun K Dutta, Senior Executive Vice President, Reliance Energy, Mr Thomas Muthoot, Director, Muthoot Fincorp Ltd, among others. The two-day session will also feature a special session with noted management consultant and author, Dr CK Prahalad.