India is home to new-age business models such as payment app Paytm, ed-tech company Byju’s, and the food delivery restaurant aggregator Zomato. The pandemic’s thrust on digital payments, contactless procedures and lockdown restrictions has made the masses reach out to these business models. Their services, which were initially restricted to a community of users, have become a must-have for everyone. This category is expected to grow.
Speaking at the ASSOCHAM Virtual Summit on Branding and Marketing, Saugata Gupta, managing director & CEO of Marico Ltd, said: “Low cost of failure and quick go-to-market products could urge companies and entrepreneurs to experiment with newer models. FMCG (fast moving consumer goods) companies are working on test-trial models that yield results within 30-40 days as opposed to the traditional six-month wait-and-watch period.”
The marketing and advertising sector is orienting itself more towards digital marketing and...