Lal Bahadur Shastri Institute of Management organized the National Marketing Summit, 2019 on the theme “New Marketing Realities: Technology, Globalization & Sustainability.” LBSIM, as an Institute, always focuses on continuous corporate interactions to create world-class leaders who are able to match the ever-changing industry demands. Marketing Summit 2019 was inaugurated with the lighting of the lamp ceremony. Mr. Pradeep Kapoor (General Manager, Siemens Ltd.), the Chief Guest for the day; Mr. Abhijit Ghosh (Chief Executive Officer, Wellogo Services Pvt. Ltd.) and Mr. Soumyo Gupta (Chief Executive Officer, Jamboree Education), the keynote speakers for the day; Dr. G.L. Sharma (Advisor, Corporate Interface); Prof. D.K. Shrivastava (Director, LBSIM); Prof. S.P. Ketkar (Professor and Convener, Marketing Area); and Mr. Sumit Kumar Dan (President, Management Grid, LBSIM) graced the dais
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Dr. D. K. Srivastava, Director, LBSIM delivered the welcome address wherein he iterated that this Marketing Summit was organized in concordance with Industry 4.0, the current trend of automation and huge data exchange. He highlighted the three most important factors relevant to all aspects of business today i.e. cost effectiveness, time, and quality and talked about his expectations from the summit. Next, the theme of the summit and its relevance in today's world was explained by Dr. S. P. Ketkar, Professor and Convener, Marketing Area. He shed light on the new realities in the domain of marketing, and four major transformative forces, namely - technology, globalization, social responsibility, and customer concerns about sustainability - that impact marketing.
This was followed by the inaugural address of the Chief Guest Mr. Pradeep Kapoor (General Manager, Siemens Ltd.). Globalization has helped to enhance the global volume of the trade with technology being the facilitator. He focused on the global megatrends that impact the business landscape coupled with sustainability which include e-mobility and automation, renewable energy, retail and consumerism shifts, social action and circular economy. He talked about the threats and challenges to issues like data privacy and intellectual property rights. He shared his insights on the changing synergies in the organizations due to impact of social media, no matter how meagre it is, and the importance of making sustainable decisions quickly. With the advent of chatpods and Artificial Intelligence, the economy would experience a shift in consumer loyalty from brands to AI platforms.