Goafest 2009 formally began with the Media Conclave held at the venue on Thursday afternoon. The theme for this year's conclave was 'Making the Best of the Slowdown," which saw large attendance from marketers who participated as speakers.
Shailesh Rao, MD (sales and operations), Google India had advice for marketers on how to deal with consumers in the context of the current economic downturn.
The Google head started his presentation by detailing how the media world is becoming complicated with each passing day, just as the market place is with bombardment of new products.
“Consumer is no longer the King. He is God,” said Rao.
“The marketers need to listen to the instructions of a consumer and accordingly build their brand around them,” Rao added.
According to Rao, recession makes the consumer anxious as he does not know what is coming.
The marketers and advertisers need to empower the consumers and help them to feel that they are in control.
He advised against cutting prices during times of the recession as the consumer reads it as a weakness.
“Be BOLD” was his secret to conquering recession, BOLD being an acronym for ‘Build to efficiency’; ‘Operate to acquire’; ‘Lead to exerimentation’ and ‘Design for engagement’.
