Viral Archives - Marketing In Asia https://www.marketinginasia.com/category/marketing-and-branding-news/viral/ Get Asia to Notice You Thu, 18 Jul 2024 10:00:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.5 https://www.marketinginasia.com/wp-content/uploads/2022/05/cropped-MIA-Black-background-Favicon-32x32.png Viral Archives - Marketing In Asia https://www.marketinginasia.com/category/marketing-and-branding-news/viral/ 32 32 Tinder Unveils AI-Powered ‘Photo Selector’ to Simplify Profile Picture Selection https://www.marketinginasia.com/tinder-unveils-ai-powered-photo-selector-to-simplify-profile-picture-selection/ https://www.marketinginasia.com/tinder-unveils-ai-powered-photo-selector-to-simplify-profile-picture-selection/#respond Thu, 18 Jul 2024 10:00:02 +0000 https://www.marketinginasia.com/?p=115839 In an era where digital authenticity is paramount, Tinder has taken a significant step forward by introducing ‘Photo Selector,’ an AI-powered feature designed to streamline the process of selecting profile pictures. This innovative tool allows users to effortlessly curate their profiles, enhancing their chances of finding meaningful connections. A Picture is Worth a Thousand Words […]

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In an era where digital authenticity is paramount, Tinder has taken a significant step forward by introducing ‘Photo Selector,’ an AI-powered feature designed to streamline the process of selecting profile pictures. This innovative tool allows users to effortlessly curate their profiles, enhancing their chances of finding meaningful connections.

A Picture is Worth a Thousand Words

The importance of authenticity in online dating cannot be overstated. According to a recent survey, 85% of singles believe that their dating app profiles are crucial in representing their true selves. However, 52% find it challenging to choose the right profile image, and 68% expressed interest in an AI feature to assist with photo selection.

This new feature is especially beneficial for men, as most single women prefer profiles with at least four images that genuinely reflect the individual’s personality. Men who include more than one face photo in their profiles see a 71% increase in their likelihood of matching with women. Photo Selector offers a digital companion that curates a diverse selection of photos from users’ camera rolls, optimized to help them find a match.

Focus on Real Connections

Singles aged 18-24 spend an average of 33 minutes selecting the right profile photo. Photo Selector alleviates this burden, allowing users to focus more on making genuine connections rather than spending excessive time on photo selection. This AI innovation promises to inject more spontaneity into the online dating experience.

The advent of smartphones and handheld cameras has introduced the paradox of choice amidst a plethora of options. AI technology is addressing this challenge, providing users with the tools they need to make quicker, more effective decisions.

“We’re proud to be the first dating app to roll out an AI tool that can make the profile-building experience significantly easier—an area we know is one of the hardest parts of dating,” said Faye Iosotaluno, CEO of Tinder. “As the category leader, we’re pushing ourselves to define the industry’s best use cases for meaningful consumer AI integrations. Our commitment to our users is clear and equally applies to our view of AI: at Tinder, we develop innovative technologies to create a safer space for people to make authentic connections.”

Also Read: ICON and Xenai Digital Join Forces for Revolutionary Digital Transformation Solutions

Effortless Photo Selection

Using Photo Selector is simple. Users snap a selfie for facial recognition, grant access to their camera roll, and let Tinder’s AI technology curate a selection of images for review. Users then decide which pictures to add to their profiles. While Photo Selector simplifies the process of selecting profile photos, there are still effective ways to present oneself for a great first impression.

Capturing the Ideal Images

Tinder Resident Dating Expert Devyn Simone offers tips on choosing profile photos that truly reflect your personality:

  1. Find Your Light: Opt for well-lit photos, with natural light being your best friend. Seek out shaded spots on sunny days and snap a few variations for a variety of options.
  2. Avoid Confusion: Keep group photos to a minimum. People are here to meet you, not your entire friend group. Choose bright, fun solo photos.
  3. Clean That Lens: Ensure your camera lens is clean to avoid blurry photos. A quick wipe with a microfiber cloth makes a significant difference.
  4. Have Fun: Show off different sides of your personality with various photos: headshots, action shots, social shots, and candid shots.
  5. Mix It Up: Regularly update your profile with new photos to keep it current and exciting.

Photo Selector will be available in the U.S. starting in July, with international markets to follow later this summer.

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Sunway Pyramid Unveils Oasis: A Reimagined Retail Space Set to Revolutionize Shopping Experience by Q4 2024 https://www.marketinginasia.com/sunway-pyramid-unveils-oasis-a-reimagined-retail-space-set-to-revolutionize-shopping-experience-by-q4-2024/ https://www.marketinginasia.com/sunway-pyramid-unveils-oasis-a-reimagined-retail-space-set-to-revolutionize-shopping-experience-by-q4-2024/#respond Wed, 10 Jul 2024 09:14:22 +0000 https://www.marketinginasia.com/?p=115240 Kuala Lumpur, 10 July 2024 – Sunway Pyramid, Malaysia’s premier retail destination, is gearing up to launch Oasis, its newly reconfigured retail space, by the fourth quarter of this year. Spanning over 250,000 square feet across four levels from the Orange Atrium to the Blue Atrium, Oasis represents a significant upgrade designed to attract a […]

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Kuala Lumpur, 10 July 2024 – Sunway Pyramid, Malaysia’s premier retail destination, is gearing up to launch Oasis, its newly reconfigured retail space, by the fourth quarter of this year. Spanning over 250,000 square feet across four levels from the Orange Atrium to the Blue Atrium, Oasis represents a significant upgrade designed to attract a diverse array of high-yielding tenants and boost footfall.

Oasis: A Hub for Renowned Retail Brands

Oasis, poised to become a cornerstone of elite retail, will host approximately 100 tenants, including esteemed brands such as H&M Home, Art Toys Cafe by MILOLO, and the MUJI Flagship Store & Café. This expansion brings Sunway Pyramid’s total tenant portfolio to an impressive 1,000.

Last year, in a strategic move to elevate asset yield through increased rents per square foot, Sunway Pyramid appointed Jaya Grocer as the anchor tenant for the redeveloped space. Currently located at level B2, the prominent supermarket chain will soon relocate to a larger, permanent space with a brand-new concept at LG2.

Elevating the Retail Experience

Jason Chin, Senior General Manager of Sunway Pyramid, expressed his enthusiasm for the upcoming unveiling, stating, “With the upcoming unveiling of Oasis, we are making a critical advancement in our ongoing mission to elevate Sunway Pyramid’s retail experience. This strategic enhancement not only broadens our tenant mix with leading brands but also positions us to attract higher footfall and drive sustained growth. By reconfiguring this substantial space, we are ensuring that Sunway Pyramid remains at the forefront of Malaysia’s retail landscape, delivering unparalleled value to both our tenants and visitors.”

With a projected net lettable area (NLA) of 2 million square feet, Oasis is set to make a significant contribution to Sunway Pyramid’s overall revenue, underscoring the mall’s evolution as Malaysia’s leading retail destination.

Innovative Enhancements for an Elevated Shopping Experience

Beyond Oasis, Sunway Pyramid is committed to enhancing the overall customer experience. Since 2022, the mall has pioneered Malaysia’s first Internet-of-Toilet (IoT) system, transforming restroom facilities into a smart system for both customers and supervisors. The latest addition, a modern neo-Egyptian themed smart toilet located on the Ground Floor of the Blue Atrium, will serve as a model for future installations across the mall.

Also Read: Insights from Matt Tindale, Head of Enterprise, APAC at LinkedIn Marketing Solutions

Key innovations for the smart toilet include:

  • A traffic light system indicating cubicle occupancy
  • Squat pans with rear and frontal bidet functions
  • Low-level exhausts in urinals and cubicles to eliminate odors
  • Ammonia sensors that trigger housekeeping when high levels are detected
  • A backend system for detecting and rectifying faults
  • An emergency alert button for immediate assistance

These toilets will also feature a family room catering to parents with children and individuals with disabilities.

Additional enhancements include an all-in-one interactive self-service kiosk with an easy-to-use interface, an enhanced Sunway Malls App with features like Easy Navigation, Deals & Events, and Match N Munch, new escalators connecting the Blue to Orange Atriums from LG2 to F Floors, as well as Electric Vehicle and Hybrid charging stations at CP2 Preferred Parking and B1 Preferred Parking.

The Terrace: A Nature-Inspired Extension

Slated for completion by Q2 2025, The Terrace, an annex adjacent to the iconic Lionhead and facing the New Pantai Expressway (NPE), will offer a refreshing, nature-inspired environment and house additional high-yielding tenants.

These developments support Sunway Pyramid’s goal of becoming the premier retail destination in the nation. For more information about Sunway Pyramid’s latest enhancement initiatives, visit www.sunwaypyramid.com or stay tuned to Sunway Pyramid’s social media pages for updates.

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Social Media Sensations: Top Trends Influencing the 2nd Half of 2024 https://www.marketinginasia.com/social-media-sensations-top-trends-influencing-the-2nd-half-of-2024/ https://www.marketinginasia.com/social-media-sensations-top-trends-influencing-the-2nd-half-of-2024/#respond Fri, 21 Jun 2024 04:27:11 +0000 https://www.marketinginasia.com/?p=114188 At least six out of ten people globally are active on social networks, representing a staggering 62.3% of the total population. This figure is set to rise, with projections estimating nearly six billion social media users by 2027. In Malaysia, 28.68 million people, or 83.1% of the population, have a social media identity, marking a […]

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At least six out of ten people globally are active on social networks, representing a staggering 62.3% of the total population. This figure is set to rise, with projections estimating nearly six billion social media users by 2027. In Malaysia, 28.68 million people, or 83.1% of the population, have a social media identity, marking a 20% increase from the previous year.

As social media becomes an integral part of daily life, users spend an average of two hours online daily. Trends and challenges now spread rapidly, and the first half of 2024 has already shed light on key drivers and insights shaping social media’s trajectory. Let’s delve into some of these influential trends.

The AI Evolution in Influencer Marketing

Artificial Intelligence (AI) is revolutionizing the social media landscape, particularly in influencer marketing. Approximately 80% of marketers report that AI-based tools have enhanced efficiency by saving time in content creation, caption generation, idea curation, and backend tasks like post-scheduling and data analysis. Brands leveraging AI for customer insights and personalized engagement find that influencers must adapt to these technological advancements, utilizing AI tools to optimize their workflows.

Cross-Platform Consistency and Creator Specialization

To maximize reach and engagement, brands now prioritize following their favorite creators across multiple platforms. Influencers must establish a cohesive and compelling presence across various social media channels. Beyond being online personas, influencers are now specialized professionals carving out distinct niches. By promoting authenticity, credibility, and professionalism, influencers can elevate their personal brands and attract lucrative opportunities.

Influencers as Key Players

Influencers have become vital to affiliate programs, driving sales and building brand loyalty through their influence. Brands are shifting from one-off projects to long-term partnerships, allowing influencers to create content that resonates with their audiences and drives conversions. These ongoing collaborations foster deeper connections with followers, delivering consistent, genuine content that strengthens brand loyalty. Performance-based deals are also gaining traction as brands seek measurable results and influencers align with them to achieve tangible outcomes.

Centering Diversity and Representation

In a world full of diverse voices, social media must reflect this diversity. Brands and influencers should embrace inclusivity, ensuring all voices are genuinely represented. This approach goes beyond ticking boxes; it’s about real storytelling that includes different races, ethnicities, genders, sexual orientations, ages, and abilities. Championing diversity builds trust and loyalty, taps into new markets, and aligns with global ethical practices, ultimately boosting business success.

Also Read: The Rise of Retail Media Networks in Southeast Asia: Insights from Ken Mandel, Head of GrabAds

TikTok and the Rise of Short-Form Video

Short-form video content has become the preferred format for digital consumption, with 96% of consumers favoring it for its brevity and visual appeal. As the world accelerates, people have less time to engage with lengthy content. For influencers, this means mastering the art of crafting compelling narratives within brief time constraints to retain audience attention. Despite the challenge, short-form video offers higher engagement rates and competitive advantage in the fast-paced digital world.

As influencers navigate the dynamic social media landscape of 2024, they encounter a blend of opportunities and challenges. By embracing emerging trends, fostering authentic connections, and delivering value-driven content, influencers can confidently position themselves as trailblazers in the digital realm.

About Tinker Society

Tinker Society is a premier social media management company specializing in strategy, content creation, and training services for clients in Malaysia and beyond. As a leading digital marketing creator and executor, Tinker Society helps brands effectively reach their target audiences. The company also provides a versatile platform for influencers and brands to produce content that reflects their identity and message.

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Bobby Deol’s Hilarious Transformation in Prime Video’s “The Boys” Season 4: A Must-Watch for Fans https://www.marketinginasia.com/bobby-deols-hilarious-transformation-in-prime-videos-the-boys-season-4-a-must-watch-for-fans/ https://www.marketinginasia.com/bobby-deols-hilarious-transformation-in-prime-videos-the-boys-season-4-a-must-watch-for-fans/#respond Fri, 14 Jun 2024 10:39:29 +0000 https://www.marketinginasia.com/?p=113785 Mumbai, June 14, 2024—In a surprising turn of events, Bobby Deol, celebrated for his gritty on-screen roles, takes a comedic leap in Prime Video’s Emmy-Award-winning series “The Boys.” Known for his intense performances in films like “Ajnabee,” “Naqaab,” and “Humraaz,” and his formidable characters such as Abrar in “Animal” and Baba Nirala in “Ashram,” Deol […]

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Mumbai, June 14, 2024—In a surprising turn of events, Bobby Deol, celebrated for his gritty on-screen roles, takes a comedic leap in Prime Video’s Emmy-Award-winning series “The Boys.” Known for his intense performances in films like “Ajnabee,” “Naqaab,” and “Humraaz,” and his formidable characters such as Abrar in “Animal” and Baba Nirala in “Ashram,” Deol has now embraced a whole new avatar—‘Baby Deol.’

In anticipation of the fourth season of Eric Kripke’s genre-defying superhero series “The Boys,” Prime Video India has released a side-splitting video featuring Deol. The video humorously depicts instances where Bobby’s rugged image is hilariously shattered as he is referred to as a ‘baby’ by everyone around him. This unexpected transformation shows even the toughest action hero can find himself daunted by the diabolical world of anti-heroes in “The Boys.”

No matter how many fist-fights, throttling action-sequences and edge-of-seat combat Deol might’ve done in his filmography, when it comes to genre-bending extremities of The Boys, even he was forced to cover his eyes! Audiences can expect the madness to only go up a notch in the upcoming season, and Bobby Deol can certainly vouch for it.

Also Read: Ellerton & Co. Appoints Prayaank Gupta as Executive Director to Accelerate Southeast Asia Expansion

The Boys is based on The New York Times best-selling comic of the same name by Garth Ennis and Darick Robertson, who also serve as executive producers, and developed by executive producer and showrunner Eric Kripke. The series, from Sony Pictures Television and Amazon MGM Studios, is all set to return with the much-awaited fourth season on June 13 in English, with dubs in Hindi, Kannada, Tamil, Telugu and Malayalam languages, only on Prime Video.

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McDonald’s India Clarifies Use of Real Cheese Amid Regulatory Scrutiny https://www.marketinginasia.com/mcdonalds-india-clarifies-use-of-real-cheese-amid-regulatory-scrutiny/ https://www.marketinginasia.com/mcdonalds-india-clarifies-use-of-real-cheese-amid-regulatory-scrutiny/#respond Tue, 27 Feb 2024 06:40:11 +0000 https://www.marketinginasia.com/?p=107940 In a recent development that has stirred both concern and conversation among fast-food enthusiasts and regulatory bodies alike, McDonald’s India has been at the center of a controversy regarding the authenticity of the cheese used in their products. The issue came to light following allegations that the fast-food giant was substituting real cheese with ‘cheese-like’ […]

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In a recent development that has stirred both concern and conversation among fast-food enthusiasts and regulatory bodies alike, McDonald’s India has been at the center of a controversy regarding the authenticity of the cheese used in their products. The issue came to light following allegations that the fast-food giant was substituting real cheese with ‘cheese-like’ products in their offerings.

Regulatory Response and Compliance

The controversy gained momentum when the Maharashtra Food And Drug Administration (FDA) pinpointed an outlet in Ahmednagar for using a cheese substitute rather than genuine cheese in their burgers. This led to the suspension of the outlet’s license, sparking a broader investigation into the practices of McDonald’s across the region. The FDA’s findings suggested that the outlet was employing ‘cheese analogues’—a blend of milk fat and vegetable fat, diverging from the pure cheese that traditionally contains only milk fat.

In response to the allegations and subsequent license suspension, McDonald’s India, operated by Westlife Foodworld Limited in the western and southern parts of the country, stood firm on their stance of using authentic ingredients. “We use only real, quality cheese in all our products containing cheese,” the company asserted, aiming to dispel doubts regarding their commitment to quality and authenticity.

Also Read: Changemakers 2024: Unleashing Potential and Transforming Lives with Success Gyan’s Landmark Event

A Firm Stance on Quality

Arvind RP, the Chief Marketing Officer of McDonald’s India, took to social media to reinforce the brand’s dedication to genuine food quality. “McDonald’s in India, and across the world, is committed to ‘Real Food, Real Good’, adhering not only to the food regulations in each country but also to an uncompromising stance on quality. Our products contain real cheese, as simple as that,” he stated, highlighting the global brand’s ethos.

Following a compliance report submitted by McDonald’s, which included revisions in product labeling to remove the word ‘cheese’ from items not containing real cheese, the FDA revoked the suspension. The regulatory body had earlier mandated that products not containing pure cheese should be clearly labeled as “cheese analogue nuggets” or “non-dairy cheese nuggets,” with ingredient lists prominently displaying these terms.

Moving Forward with Transparency

The resolution of this issue marks a significant moment for McDonald’s India, as it navigates the complexities of food regulations and consumer expectations. The company’s swift action to address regulatory concerns and its transparent communication with the public reflect a broader commitment to quality and authenticity—a cornerstone of the McDonald’s brand worldwide.

As the fast-food chain resumes business as usual, this episode serves as a reminder of the importance of transparency and adherence to food standards, ensuring that consumers can continue to enjoy their favorite meals with confidence in the ingredients used.

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Ayodhya Ram Mandir Inauguration: Brands Embrace Cultural Milestone https://www.marketinginasia.com/ayodhya-ram-mandir-inauguration-brands-embrace-cultural-milestone/ https://www.marketinginasia.com/ayodhya-ram-mandir-inauguration-brands-embrace-cultural-milestone/#respond Thu, 18 Jan 2024 12:58:34 +0000 https://www.marketinginasia.com/?p=104766 With the opening of the Ayodhya Ram Mandir, a cultural landmark and a once-in-a lifetime chance for advertising, a watershed moment occurs in the dynamic city of Ayodhya. Companies are vying to incorporate their brand stories into this historic occasion, which is strongly ingrained in religious and cu tural traditions. Brands Align with Cultural Milestone As Ayodhya prepares for the grand inauguration of the Ram Mandir, a myriad of brands are seizing the opportunity to be part of this cultural […]

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With the opening of the Ayodhya Ram Mandir, a cultural landmark and a once-in-a lifetime chance for advertising, a watershed moment occurs in the dynamic city of Ayodhya. Companies are vying to incorporate their brand stories into this historic occasion, which is strongly ingrained in religious and cu tural traditions.

Brands Align with Cultural Milestone

As Ayodhya prepares for the grand inauguration of the Ram Mandir, a myriad of brands are seizing the opportunity to be part of this cultural phenomenon. From well-known FMCG companies to retail giants, the event is a gateway for brands to connect with a diverse and vast audience.

Greenpanel’s Innovative Approach

Leading the way, Greenpanel has unveiled an innovative outdoor marketing campaign specifically for this occasion. This strategic initiative not only highlights the brand’s versatility but also its respect for India’s rich cultural heritage. The campaign stands as a prime example of how brands can align with significant cultural events while maintaining their unique identity.

Adani Wilmar’s Diverse Activations

Under its Fortune brand, Adani Wilmar is planning on-ground activities like a Jalebi Sampling Spree, pakoda platter, mega-bhog event, and gate branding and hoardings. They are also sponsoring the TV show “Shrimad Ramayana” during the celebrations.

Retail Brands Seize the Opportunity

Brands like Zudio, Westside, Pantaloons, and others are planning to capitalize on Ayodhya’s potential as a tourist and pilgrimage hub. Cantabil, an online apparel retailer, opened its 500th store in India in Ayodhya, and Kalyan Jewellers is set to inaugurate its 250th store in the city in February 2024.

Dabur’s Branding Innovations

Dabur, synonymous with health and wellness in India, is branding local eateries (dhabas) with its key products like Hajmola and Real. Dabur has launched half-page ads in Hindi newspapers, TV commercials, digital, and outdoor ads with the temple theme. They are also setting up medical camps, water stations, and changing rooms in Ayodhya, and a portion of profits from product sales during this period will be donated to the Shri Ram Janmbhoomi Teerth Kshetra Trust

Dabur is creating special experience zones in Ayodhya for visitors to engage with their products. They have also partnered with dhabas on highways leading to Ayodhya for promoting their Real juices and Hajmola digestives.

Other Brands’ Participation

Galalite is setting up a large projection screen at the temple, Boroline has introduced a new pack featuring the Mandir emblem, and Augmont Gold and PP Jewellers by Pawan Gupta have launched commemorative collections. Greenpanel is running an outdoor marketing campaign in Ayodhya.

Travel and Hospitality Sector

The House of Abhinandan Lodha announced Amitabh Bachchan’s land purchase in their Ayodhya project. Hospitality brands like Praveg Ltd are opening new resorts, and Indian Hotels Co., ITC Ltd., and EIH Ltd. are preparing to welcome guests. Airlines like IndiGo, Air India, and Akasa have launched flights connecting Ayodhya with major cities.

Beyond Moment Marketing

The Ayodhya Ram Mandir inauguration transcends mere momentary marketing. It represents an opportunity for brands to establish long-term associations with a culturally and religiously significant event. This approach extends beyond traditional marketing, fostering deeper connections with the audience.

The involvement of these brands in the Ayodhya Ram Mandir inauguration is a clear indicator of the evolving landscape of cultural marketing in India. Brands are increasingly recognizing the importance of integrating cultural elements into their marketing strategies. This trend is not just about tapping into a large gathering but also about respecting and celebrating the cultural and religious sentiments of the audience.

A Win-Win for Brands and Audience

This fusion of culture and marketing at the Ayodhya Ram Mandir inauguration creates a mutually beneficial scenario. Brands get to showcase their products and services in a culturally relevant manner, while the audience experiences a unique blend of tradition and modernity. This synergy is a powerful tool in creating lasting brand memories.

The Ayodhya Ram Mandir event sets a precedent for future cultural marketing endeavors. It highlights how brands can successfully navigate the delicate balance between respect for cultural sentiments and effective marketing. As India continues to celebrate its diverse cultural heritage, more such opportunities are likely to emerge, offering fertile ground for innovative brand strategies.

Also read: Shiprocket and Truecaller Unite to Transform India’s Mobile Commerce Landscape

The Ayodhya Ram Mandir inauguration is not just a landmark event in India’s cultural and religious calendar; it’s a vibrant mosaic of marketing opportunities. Brands that have skillfully integrated their strategies with this event have not only gained visibility but have also shown respect and alignment with India’s rich cultural fabric. As the nation watches this historic event unfold, the ingenious blend of tradition and marketing stands out, marking a new era in the realm of cultural marketing.

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Clicks, Calls, and Coffee: Three Years In and Beyond https://www.marketinginasia.com/clicks-calls-and-coffee-three-years-in-and-beyond/ https://www.marketinginasia.com/clicks-calls-and-coffee-three-years-in-and-beyond/#respond Sat, 28 Oct 2023 03:00:00 +0000 https://www.marketinginasia.com/?p=92918 Hello, dear readers! Remember our last conversation about the rise of remote work a few days back? Well, here we are, almost three years into this new work paradigm, and boy, has the landscape evolved! The world has seen a whirlwind of changes, and while some were skeptical about the longevity of remote work, the […]

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Hello, dear readers! Remember our last conversation about the rise of remote work a few days back? Well, here we are, almost three years into this new work paradigm, and boy, has the landscape evolved! The world has seen a whirlwind of changes, and while some were skeptical about the longevity of remote work, the numbers and trends tell a different story. Let’s unpack the future of remote work, shall we?

The State of Remote Work: By the Numbers

Despite the challenges and the occasional Zoom fatigue, remote work has firmly anchored itself in our professional lives. Here’s a snapshot:

Happiness Quotient: A whopping 77% of folks agree that working from home (WFH) boosts their happiness levels. Who wouldn’t be happy ditching that daily commute?

The New Normal: 80% of respondents anticipate continuing with remote work for at least three days a week post-COVID-19. That’s a significant shift from the traditional 9-to-5 office grind.

Deal Breaker: Here’s a shocker – if WFH was taken off the table, half of the employees would consider resigning. Talk about a game-changer! Harvard Business Review highlighted that despite some CEOs advocating for a return to the office, many executives privately expect the remote work trend to continue. The U.S. saw over 50% of full workdays being remote in spring 2020, stabilizing around 28% by early 2023.

Remote Work Trends for 2023 and Beyond

The future of remote work is not just about working from home; it’s about working from anywhere. Here’s what’s trending:

  1. Hybrid Work Models: The future is flexible. A study of over 9,000 American workers revealed that 54% prefer a mix of office and home, while only 37% wish to work exclusively from home. Companies are listening, with giants like Slack and Gartner highlighting the benefits of this blended approach.
  2. Generational Shifts: According to an Owl Labs report, what matters most varies by generation. The benefits and perks offered to employees may need to change as a new generation enters the workforce. While ranking office perks (40%) and a dedicated desk (51) as less important, Gen Z notes that compensation (73%) and health insurance (67%) are their most important benefits. Gen Z is entering the workforce, and their priorities differ. While they value compensation and health benefits, traditional office perks like ping pong tables don’t cut it. Companies will need to recalibrate their offerings to cater to these new entrants while balancing the preferences of older generations.
  3. Gig Economy Growth: The rise of freelancing and temporary jobs is undeniable. Platforms like Upwork have seen a surge in non-temporary freelancers, indicating a shift towards more flexible, project-based roles. According to Upwork, the proportion of non-temporary freelancers increased to a new high: from 2020 to 2021, the proportion of non-temporary freelancers increased from 33.8% to 35.0%. And with the increased flexibility and ability to work from anywhere that remote work allows, this trend is likely to continue in the coming years.
  4. Employee Well-being: The pandemic took a toll on mental health. Approximately 1 in 3 employees, including executives, report that they “always” or “often” feel worn out, stressed, overloaded, lonely, or depressed. According to the Deloitte and Workplace Intelligence survey, 77% of executives who responded believe that businesses should be required to publicly report workplace well-being metrics, and 55% of employees agree. Over eight out of ten global executives believe their employees are thriving in all areas of their well-being, according to the survey of 2,100 employees and C-level executives across four countries conducted by Deloitte and Workplace Intelligence. In contrast, only 56% of employees believe that the company’s executives even give a damn about their welfare. Companies are now realizing the importance of employee well-being, with many considering public reporting of workplace well-being metrics. It’s not just about work; it’s about life.
  5. End of ‘shecession’: The Atlantic reported on the positive impact of remote work on mothers. Dubbed the “shecession” in 2020, many mothers had to quit jobs due to the pandemic’s challenges. However, the flexibility of remote work has played a pivotal role in bringing many back to the workforce.
  6. Tech and Training: As remote work becomes the norm, companies are investing in technology and training to ensure seamless collaboration. A survey by the software company Workfront found that 49% of employees would leave if their organisation didn’t take measures against bad tech. As remote work becomes more widespread, companies will likely invest in training and development programmes to help their employees succeed in a remote environment. This could include training on virtual communication and collaboration, as well as time management and productivity. No one wants to be that person with the laggy video feed in a team meeting!
  7. Cybersecurity: With flexibility comes responsibility. A survey by the cybersecurity company Norton found that according to 53% of adults, hackers and cybercriminals now find it much simpler to take advantage of people due to remote work. As work moves out of the office, ensuring data security is paramount. Companies are ramping up their cybersecurity measures to protect against increasing threats.

Also read: Clicks, Calls, and Coffee: Analyzing the Statistics of Living the Remote Work Life

The future of work is evolving, and remote work is at its heart. As we navigate this new landscape, it’s essential to stay informed, adaptable, and open to change. Here’s to a future where work is not a place you go, but something you do – from anywhere! Cheers to the new normal!

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India’s Booming Wedding Season An Economic Revival in the Asia-Pacific https://www.marketinginasia.com/indias-booming-wedding-season-an-economic-revival-in-the-asia-pacific/ https://www.marketinginasia.com/indias-booming-wedding-season-an-economic-revival-in-the-asia-pacific/#respond Wed, 18 Oct 2023 09:59:10 +0000 https://www.marketinginasia.com/?p=94329 Indian weddings, renowned for their lavishness and cultural richness, remain unrivaled by many global traditions. These elaborate ceremonies are characterized by vibrant outfits, intricate rituals, and grand feasts. But beyond the cultural spectacle, there lies an economic dimension that is often overlooked. Sowing Seeds of Economic Growth While these ceremonies are symbols of love and […]

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Indian weddings, renowned for their lavishness and cultural richness, remain unrivaled by many global traditions. These elaborate ceremonies are characterized by vibrant outfits, intricate rituals, and grand feasts. But beyond the cultural spectacle, there lies an economic dimension that is often overlooked.

Sowing Seeds of Economic Growth

While these ceremonies are symbols of love and unity, they also serve as significant economic stimuli. The upcoming wedding season in India, set to be the grandest on record, is expected to provide a robust push to the country’s financial system.

A Record-breaking Wedding Wave

A report by the Confederation of All India Traders (CAIT) highlighted that the period from November 23 to December 15 this year would witness an unparalleled wedding spree. With over 3.5 million couples set to exchange vows in just 23 days, the number surpasses last year’s count of 3.2 million nuptials during the equivalent timeframe.

Also Read: WhatsApp Adopts Passkeys A Leap Towards Enhanced Security in Asia Pacific

Delhi, the nation’s capital, is preparing to host an estimated 350,000 weddings, showcasing the city’s vibrancy and economic potential.

Exquisite Celebrations, Hefty Price Tags

The lavishness of these weddings can often be translated into the expenditure involved. CAIT’s data indicates that approximately 50,000 weddings are slated to have a budget of Rs1 crore (RM569,659) or more. Taking a holistic view, the forthcoming wedding season is projected to generate a massive revenue of 4.25 lakh crores rupees (RM242 billion) from wedding-related expenditures.

The Continuation of the Wedding Season’s Impact

It’s essential to note that this is just the beginning. The subsequent wedding wave is due to commence in mid-January 2024, running through to July 2024, potentially ushering in more economic gains.

This season’s surge showcases not only the cultural significance of weddings in India but also their consequential economic implications for the broader Asia-Pacific region. As countries globally grapple with economic challenges, India’s booming wedding industry stands as a beacon of cultural resilience and economic vitality.

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Twitter’s new CEO Linda Yaccarino reveals her iPhone home screen, but X app is nowhere to be seen https://www.marketinginasia.com/twitters-new-ceo-linda-yaccarino-reveals-her-iphone-home-screen-but-x-app-is-nowhere-to-be-seen/ https://www.marketinginasia.com/twitters-new-ceo-linda-yaccarino-reveals-her-iphone-home-screen-but-x-app-is-nowhere-to-be-seen/#respond Fri, 29 Sep 2023 14:13:04 +0000 https://www.marketinginasia.com/?p=92067 In a captivating display of technological prowess, Linda Yaccarino, the esteemed CEO of X Corp. and Twitter, mesmerised the audience at Vox Media’s Code 2023 symposium on Thursday. With grace and finesse, she unveiled the primary interface of her iPhone, leaving attendees in awe of her expertise. In a rather conspicuous manner, the X app […]

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In a captivating display of technological prowess, Linda Yaccarino, the esteemed CEO of X Corp. and Twitter, mesmerised the audience at Vox Media’s Code 2023 symposium on Thursday. With grace and finesse, she unveiled the primary interface of her iPhone, leaving attendees in awe of her expertise. In a rather conspicuous manner, the X app was noticeably missing from the initial screen.

In a stunning turn of events, Twitter will witness a change in leadership as Elon Musk hands over the reins to Yaccarino in June 2023. Yaccarino wasted no time in making her mark, unveiling a digital dashboard that boasts an impressive lineup of prominent apps. Among them are Starbucks, Gmail, Signal, Instagram, Facebook, and a variety of Apple utilities.

This move is set to reshape the Twitter experience and leave users eagerly anticipating the future under Yaccarino’s guidance. In a fascinating turn of events, the highly anticipated X app, which had been renamed following its acquisition by Twitter under the leadership of Elon Musk in April 2023, was conspicuously absent from the scene.

The omission sparked a wave of speculation and intrigue among onlookers and the online community. In a puzzling turn of events, the helmswoman of a social media titan has raised eyebrows by failing to prominently showcase her own platform’s application. The burning question on everyone’s mind is: why? In a flurry of speculation, there have been suggestions that the X app could potentially be located on a different page or even hidden within the App Library.

Additionally, some individuals have put forth the theory that the user’s inclination to access X might involve using an alternative device or opting for a different browser. Speculation arose among some individuals, questioning whether she harboured hesitations in disclosing her personal X account or if her reservations were directed towards the application itself.

In the interview, Yaccarino made an effort to clarify X’s fundamental values, but she chose not to disclose any information regarding the app’s absence. In a recent statement, she expressed that X, a burgeoning organisation, fervently advocates for “freedom of expression and freedom of speech.” Additionally, she emphasised her ongoing and active communication with Musk on a wide range of topics. In a conversation filled with challenges, she skillfully manoeuvred through a series of pointed inquiries. These included discussions about the possibility of X transitioning to a subscription model and the strategies being employed to tackle the pressing issues of hate speech and disinformation.

In a remarkable career trajectory, Yaccarino, a former luminary at NBCUniversal, has emerged as the mastermind behind X’s strategic direction, content curation, and advertising initiatives. In a groundbreaking development, Twitter’s first-ever female CEO has been making waves with her notable political involvements.

One such instance was her role as the host for the presidential campaign launch of Florida Governor Ron DeSantis, an event that caused quite a stir on the platform, momentarily overwhelming it. In a recent development, it has been revealed that she has made a decision to decline a plea from Ukraine regarding the utilisation of Musk’s Starlink satellite for defence against Russian aggression.

Additionally, she has engaged in a conversation with Israeli Prime Minister Benjamin Netanyahu, highlighting the importance of maintaining a balance between protecting free speech and minimising hate speech on X.

In a stunning revelation, Yaccarino’s iPhone interface has captured the attention of many, sparking curiosity and shining a spotlight on her relationship with X and its user base. In the digital realm, anticipation builds as we eagerly await to see if she will recalibrate her interface or provide clarity on her rationale in upcoming dialogues.

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Chris Evans Marries Alba Baptista: Inside The Star-Studded Affair https://www.marketinginasia.com/chris-evans-marries-alba-baptista-inside-the-star-studded-affair/ https://www.marketinginasia.com/chris-evans-marries-alba-baptista-inside-the-star-studded-affair/#respond Mon, 11 Sep 2023 08:47:35 +0000 https://www.marketinginasia.com/?p=88578 Chris Evans Marries Alba Baptista: A Fairytale Union The entertainment world is abuzz! The iconic Hollywood star Chris Evans, adored by many for his Captain America role, has taken his relationship to the next level. The dashing actor recently exchanged vows with the talented Alba Baptista in a private and intimate ceremony. Key Highlights: A […]

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Chris Evans Marries Alba Baptista: A Fairytale Union

The entertainment world is abuzz! The iconic Hollywood star Chris Evans, adored by many for his Captain America role, has taken his relationship to the next level. The dashing actor recently exchanged vows with the talented Alba Baptista in a private and intimate ceremony.

Key Highlights:
  • Chris Evans marries Alba Baptista in a close-knit, at-home ceremony.
  • Marvel co-stars, including Robert Downey Jr. and Chris Hemsworth, were in attendance.
  • Fans worldwide send heartwarming wishes, with some playfully saying, “it should’ve been me.”

A Ceremony Straight Out of a Dream

While Chris has always managed to keep his personal life out of the limelight, the news of his marriage with Alba Baptista wasn’t something that could be kept under wraps for long. Held in the comfort of their home, this low-key yet significant affair was nothing short of magical. As the news broke, fans from every corner showered the couple with love and adoration.

It’s heartening to note that despite the star power the duo holds, they opted for a simple, intimate gathering to mark this special occasion in their lives. Transitioning from the big screen to a real-life romance, their love story is as genuine as it gets.

Who is Alba Baptista?

For the Indian audience, unfamiliar with Alba, she isn’t a new face in the entertainment world. Over the years, she has carved a niche for herself with her versatile acting skills and captivating screen presence. But how did Alba Baptista, a star in her own right, cross paths with Chris Evans? That’s a story we are all eager to hear more about. Their journey, from being two individuals in the vast world of cinema to becoming life partners, is indeed a tale of true love.

A Star-Studded Guest List

Now, what’s a Hollywood wedding without a sprinkle of extra glamour? The whispers are true! Marvel’s finest, Robert Downey Jr. and Chris Hemsworth, graced the event with their presence. This surely added a touch of the ‘Avengers’ magic to Chris and Alba’s big day. The fact that these big names chose to be a part of their day shows the deep bonds and friendships that run in the Hollywood circuit.

A Wave of Reactions

Social media platforms, especially Twitter, have been flooded with reactions from fans all over the globe. From heartwarming congratulations to playful envy, the Indian fans have shown immense love and support. Many even took a light-hearted approach, jesting “it should’ve been me” showcasing the immense love and admiration they hold for Chris.

Also read: ZALORA & The Future of E-commerce: A Glimpse Into OpenAI Integration and Beyond

The union of Chris Evans and Alba Baptista marks yet another beautiful chapter in the world of celebrity romances. As they embark on this new journey together, we, as fans, can only wish them a lifetime filled with love, laughter, and countless memories. While their marriage has become the talk of the town today, it’s their love and commitment towards each other that will stand the test of time. Cheers to the newlyweds!

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Chandrayaan-3: India’s Bold Resurgence in Lunar Exploration Following Russia’s Setback https://www.marketinginasia.com/chandrayaan-3-indias-bold-resurgence-in-lunar-exploration-following-russias-setback/ https://www.marketinginasia.com/chandrayaan-3-indias-bold-resurgence-in-lunar-exploration-following-russias-setback/#respond Wed, 23 Aug 2023 08:11:57 +0000 https://www.marketinginasia.com/?p=86401 India gears up for its second moon landing attempt. This mission holds significant importance for lunar exploration and India’s status in space leadership, especially after Russia’s recent unsuccessful attempt. The Indian Space Research Organisation (ISRO) schedules the Chandrayaan-3 spacecraft to try its landing on the moon’s south pole at 6:04 p.m. local time (12:34 p.m. […]

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India gears up for its second moon landing attempt. This mission holds significant importance for lunar exploration and India’s status in space leadership, especially after Russia’s recent unsuccessful attempt.

The Indian Space Research Organisation (ISRO) schedules the Chandrayaan-3 spacecraft to try its landing on the moon’s south pole at 6:04 p.m. local time (12:34 p.m. GMT) on Wednesday. This comes shortly after Russia’s Luna-25 mission met with a failure.

Chandrayaan, translating to “moon vehicle” in Hindi and Sanskrit, marks India’s second attempt to touch down on the lunar surface. Although ISRO’s Chandrayaan-2 mission in 2019 successfully launched an orbiter, the lander did not fare well.

Also Read: Meta’s New AI Model Breaks Language Barriers: Translates 100 Languages 

Carla Filotico, Managing Director at SpaceTec Partners, underlined the significance of this mission. “If India lands on the moon’s south pole, it will pave the way for exploring potential water ice presence. This could provide crucial data about the moon’s geology,” she said.

The entire nation waits in anticipation for the landing. Newspapers feature bold headlines about the mission, while news channels count down the minutes. People across India express their excitement and hope. Religious sites like temples, mosques, and churches resonate with prayers, hoping for the mission’s success. Schoolchildren, holding the Indian tricolour, eagerly await the live broadcast.

While in South Africa attending the BRICS summit, Prime Minister Narendra Modi will also join the millions watching the event unfold.

The rugged landscape of the lunar south pole presents numerous challenges for a successful landing. Achieving this feat would be historic. The region’s potential water ice reserves can provide essential resources like fuel, oxygen, and drinking water for upcoming missions.

For India, this mission isn’t just about space exploration. A triumphant moon landing will cement its reputation as a dominant space force. It aligns with Prime Minister Narendra Modi’s vision to boost investments in private space endeavors and satellite-linked enterprises.

The Chandrayaan-3 mission symbolizes India’s aspirations, scientific prowess, and space ambitions. As the spacecraft gears up to touch the lunar surface, a nation holds its breath, hoping for a new chapter in space exploration.

Based on information from The Star.

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Samsung Galaxy Z Fold5 Unveiled: A New Era in Foldable Technology, Designed to Impress https://www.marketinginasia.com/samsung-galaxy-z-fold5-unveiled-a-new-era-in-foldable-technology-designed-to-impress/ https://www.marketinginasia.com/samsung-galaxy-z-fold5-unveiled-a-new-era-in-foldable-technology-designed-to-impress/#respond Mon, 14 Aug 2023 07:45:50 +0000 https://www.marketinginasia.com/?p=85212 The Samsung Galaxy Z Fold5 is here, and it represents a new era in foldable technology. Foldable phones are intriguing. They can fold away for portability or unfold to reveal a larger screen. Samsung has been refining this technology, and the Galaxy Z Fold5 shows it off well. Samsung Galaxy Z Fold5 Review: What’s New? […]

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The Samsung Galaxy Z Fold5 is here, and it represents a new era in foldable technology. Foldable phones are intriguing. They can fold away for portability or unfold to reveal a larger screen. Samsung has been refining this technology, and the Galaxy Z Fold5 shows it off well.

Samsung Galaxy Z Fold5 Review: What’s New?

The Design:

Samsung hasn’t made radical design changes or added new hardware to the Fold5. Instead, the company focused on significant tweaks.

The Flex Hinge is one of the most visible changes. This latest version of the hinge allows the phone to close more tightly. When folded, the device is now about 2mm thinner. This change makes the Fold5 more portable than its predecessors. The two sides now fold flat, leaving no space between them.

Also Read: Rainbows in Malaysia: A Colorful Battle for Love and Pride – Swatch and The 1975 Take a Stand!

Samsung has also redesigned the S-Pen, making it thinner. But, you’ll need an additional cover to get one.

The App Dock:

One other vital change is the app dock’s addition at the screen’s bottom when unfolded. This new feature gives you one-tap access to your most used and recent apps. You no longer have to cycle between them, as you might with other Android phones.

The app dock functions where you browse, write notes, or scribble with the S-Pen. It’s similar to the dock on a Mac and is equally useful. This addition also means the Fold5 handles multitasking and natural user behaviors like drag-and-drop better.

The User Experience:

The Galaxy Z Fold5 aims to simplify your life by focusing on user-friendly features.

Portability:

With a tighter fold and thinner profile, the Fold5 is now even more portable. It fits in your pocket or bag with ease, ready to be used as a full-size smartphone.

Multitasking:

The app dock is a game-changer for multitasking. It offers easy access to frequently used apps. You can switch between tasks quickly, making multitasking more efficient.

Enhanced S-Pen:

Though thinner, the S-Pen remains a powerful tool for writing, drawing, and interacting with your device. The added purchase requirement doesn’t diminish its utility.

Samsung has shown us that innovation doesn’t always mean overhauling everything. Sometimes, careful refinements and user-focused features can make a world of difference.

The Galaxy Z Fold5 may not be a complete design revolution, but its enhancements make it stand out in the foldable phone market. From a more refined hinge to an improved app dock, Samsung has created a device that’s both functional and elegant.

In a world where technology is constantly evolving, the Samsung Galaxy Z Fold5 takes a step forward, setting a new standard for what a foldable smartphone can be.

This news is based on Indian Express.

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Twitter Verification a Prerequisite for TweetDeck Access, Announces Twitter https://www.marketinginasia.com/twitter-verification-a-prerequisite-for-tweetdeck-access-announces-twitter/ https://www.marketinginasia.com/twitter-verification-a-prerequisite-for-tweetdeck-access-announces-twitter/#respond Tue, 04 Jul 2023 13:00:46 +0000 https://www.marketinginasia.com/?p=79419 In a recent development, Twitter has stated that its users will need to be verified for accessing TweetDeck, its well-known dashboard application. This announcement, released via Twitter’s official account, detailed an upgraded version of TweetDeck complete with new features. However, the social media giant also hinted at a significant policy shift that will be rolled […]

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In a recent development, Twitter has stated that its users will need to be verified for accessing TweetDeck, its well-known dashboard application. This announcement, released via Twitter’s official account, detailed an upgraded version of TweetDeck complete with new features. However, the social media giant also hinted at a significant policy shift that will be rolled out in 30 days.

Up until now, TweetDeck has been freely available, with its robust capabilities widely leveraged by businesses and news organizations for efficient content monitoring. Yet, with Twitter’s announcement, the platform’s access may no longer be as open. As the statement left it uncertain whether charges would apply to both the new and old versions of TweetDeck, Twitter’s silence on comment requests has only fueled speculation.

The decision to possibly monetize TweetDeck could provide a much-needed revenue lift for Twitter. This comes at a time when the social media giant, under billionaire Elon Musk’s ownership, is grappling to keep a firm grip on its advertising income.

This policy change follows on the heels of Musk’s statement revealing limitations on the number of posts both verified and unverified users can read daily. Musk justified this decision citing the need to “address extreme levels of data scraping & system manipulation.”

However, the move ignited a storm of backlash from the Twitter community. Advertising experts have also voiced their concerns, suggesting that such a shift could undercut new CEO Linda Yaccarino, who assumed her role only a month ago.

The cost of verification is slated to be US$8 (RM37) monthly for individual accounts and US$1,000 per month for organizations. The introduction of this charge may have further implications on Twitter’s user dynamics, making it an interesting development to keep an eye on.

This news piece is based on an article from malaymail.com.

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Singapore Woman Scammed Out of S$30,000 Via Third-Party App https://www.marketinginasia.com/singapore-woman-scammed-out-of-s30000-via-third-party-app/ https://www.marketinginasia.com/singapore-woman-scammed-out-of-s30000-via-third-party-app/#respond Mon, 12 Jun 2023 12:56:49 +0000 https://www.marketinginasia.com/?p=75254 In a recent cybersecurity breach, a 34-year-old Singaporean woman was scammed out of nearly S$30,000 by perpetrators who seized control of her phone via a third-party application. This alarming incident throws a stark spotlight on the growing threat of malicious software, also known as malvertising, and underscores the urgent need for stringent mobile security measures. […]

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In a recent cybersecurity breach, a 34-year-old Singaporean woman was scammed out of nearly S$30,000 by perpetrators who seized control of her phone via a third-party application. This alarming incident throws a stark spotlight on the growing threat of malicious software, also known as malvertising, and underscores the urgent need for stringent mobile security measures.

The victim, referred to as Tan, was lured by an enticing Facebook ad that offered a free food blender to users who downloaded a specific shopping app and made a minimal purchase. Falling for what seemed like a lucrative deal, Tan installed the app, which was a ploy by the scammers to gain control of her device. Despite encountering technical glitches, she was placated by the alleged support team, who claimed that these issues were temporary, attributed to the app being new.

However, it was too late when Tan discovered that her phone was compromised. She was notified of a large transaction she didn’t authorize and was powerless to halt it. In a short span, six transactions totaling S$29,877.90 were made from her DBS Bank account.

Also Read: Revolutionizing Fashion: Apple’s Vision Pro & the Future of Digital Couture

Kevin Reed, a cybersecurity expert from Acronis, identifies this incident as a case of malvertising, which particularly threatens Android users due to the system’s openness to software installations from sources beyond the Google Play Store. This threat is not limited to Android users; with EU’s upcoming Digital Markets Act, Apple may also need to permit apps from external sources, thereby increasing the risk.

DBS Bank promises to aid scam victims, emphasizing the customers’ crucial role in maintaining security through measures like real-time transaction alerts and immediate response to suspected fraudulent activity. DBS also sent out a warning against fake social media ads and unsafe app downloads.

Reed’s advice to users is to steer clear of apps from sources other than official app stores, and to immediately power off their device if they suspect a malware attack.

This incident is not an isolated one. Earlier in the year, warnings against such scams were issued by Singapore’s police and the Cyber Security Agency. These scams, which trick victims into downloading dubious apps, have resulted in significant financial losses.

This news is based on The Star.

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High Bride Price Shatters Love in China: A Tale of Resistance Against Tradition https://www.marketinginasia.com/high-bride-price-shatters-love-in-china-a-tale-of-resistance-against-tradition/ https://www.marketinginasia.com/high-bride-price-shatters-love-in-china-a-tale-of-resistance-against-tradition/#respond Mon, 12 Jun 2023 07:40:48 +0000 https://www.marketinginasia.com/?p=75173  In Zhejiang, eastern China, an unidentified man called off his engagement due to his future in-laws’ hefty demand of a 380,000 yuan (approximately RM246,025 or US$53,000) bride price, sparking a renewed debate about this costly traditional practice. The couple’s eight-year-long relationship succumbed to this exorbitant demand, which was double the region’s average bride price, according […]

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 In Zhejiang, eastern China, an unidentified man called off his engagement due to his future in-laws’ hefty demand of a 380,000 yuan (approximately RM246,025 or US$53,000) bride price, sparking a renewed debate about this costly traditional practice. The couple’s eight-year-long relationship succumbed to this exorbitant demand, which was double the region’s average bride price, according to China News. 

A widely shared video on social media documented the heartbroken bride-to-be, processing the news of her broken engagement in a public setting. The reports stated that she was blissfully planning her wedding, unaware of her parents’ financial expectations or the objections from her fiancé and his family. 

The groom’s parents had earmarked 250,000 yuan (about RM161,790 or US$35,000), hoping it would appease any demand from the bride’s family. The requested bride price of 380,000 yuan left them in shock, as it was nearly twice the local average of 200,000 yuan (roughly RM129,474). Despite their attempts to negotiate a lower price, the bride’s parents remained adamant, insisting that their “beautiful” daughter merited the exorbitant price. They refused to give their blessing for the marriage unless their demand was met. 

Also Read: Historic Return of Anwar Ibrahim to Umno General Assembly After 25 Years

Having already made a down payment on a home for the young couple, the groom’s parents found themselves unable to fulfill the high bride price. The aftermath of China’s one-child policy, which preferred boys over girls and resulted in a higher male population, has triggered a significant increase in bride prices as these children reach marriageable age. 

The Chinese male population in 2022 stood at 722.06 million, while the female population was at 689.69 million, adding fuel to the rising bride price phenomenon. The ex-girlfriend’s stance on the bride price was not revealed in the reports, but they did indicate that she believed her boyfriend, if he truly loved her, should find a way to satisfy her parents’ demands. 

However, while having a meal with her friends, she received a text message from her boyfriend announcing the termination of their relationship due to her parents’ unrealistic expectations. She immediately sought clarification over a phone call, a conversation that was captured and shared online. 

The issue has sparked intense discussions on mainland social media platforms, with comments such as, “Her family is selling their daughter” and “Her parents were trying to empty his family’s pockets, weren’t they?” echoing the public’s frustration towards the escalating bride price practice in China. 

News based on thestar website. 

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Singapore’s Response to Controversial Joke on MH370 https://www.marketinginasia.com/singapores-response-to-controversial-joke-on-mh370/ https://www.marketinginasia.com/singapores-response-to-controversial-joke-on-mh370/#respond Thu, 08 Jun 2023 11:18:27 +0000 https://www.marketinginasia.com/?p=74752 Singapore has found itself in a delicate situation after a Singapore-born comedian, Jocelyn Chia, made an insensitive joke about the tragic MH370 crash during one of her stand-up routines. In addition to the controversial joke, Chia also made snarky comparisons between Singapore and Malaysia’s politics, causing further offense. During her routine, Chia remarked, “When my […]

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Singapore has found itself in a delicate situation after a Singapore-born comedian, Jocelyn Chia, made an insensitive joke about the tragic MH370 crash during one of her stand-up routines. In addition to the controversial joke, Chia also made snarky comparisons between Singapore and Malaysia’s politics, causing further offense.

During her routine, Chia remarked, “When my prime minister went on TV to announce that you guys had dumped us, he cried because he thought we were not going to survive without you.” She was referring to Singapore’s separation from Malaysia in 1965, which was announced by Singapore’s first prime minister, Lee Kuan Yew. Chia went on to claim that while Singapore has since become a ‘first world country,’ Malaysia remains a ‘developing’ one. She then made a misguided attempt at humor by referring to the MH370 tragedy and questioning its appropriateness as a subject for jokes.

Also Read: Tech Titans and Singapore Government Form ‘AI Verify Foundation’ to Tackle AI Ethical Challenges

Understandably, many Malaysians were infuriated by the insensitivities in Chia’s comedy routine. Malaysian politician Syed Saddiq took to Twitter, criticizing the comedian for turning a tragedy into a source of entertainment. Kudsia Kahar, a Malaysian radio broadcaster, echoed these sentiments, stating that tragedies and deaths should never be turned into jokes. Singaporean politician Vivian Balakrishnan also expressed his disapproval of Chia’s remarks, emphasizing that her statements did not reflect the views of Singaporeans and apologizing for the offense caused to Malaysians.

Recognizing the need for damage control, Singapore’s High Commissioner to Malaysia, Vanu Gopala Menon, spoke out against Chia’s comments. He clarified that the Singapore Government does not support words or actions that cause harm or hurt to others. Menon highlighted the strong and multi-faceted relationship between Singapore and Malaysia, emphasizing that comments like Chia’s are unhelpful and undermine the trust and friendship between the two countries and peoples.

Also Read: Ignite Your Passion With Tiger Crystal’s New Campaign: ‘Brewed For Your Fire

It is important to note that this incident occurred during Chia’s stand-up routine at Comedy Cellar in New York City. While attempting humor, Chia failed to consider the sensitivities surrounding tragic events like the MH370 crash, which remains a deeply painful and unresolved chapter in Malaysia’s history.

This controversy raises broader questions about the responsibilities of comedians and the importance of cultural sensitivity. Comedy can be a powerful tool for social commentary and entertainment, but it also carries the responsibility of considering the impact and potential harm of jokes, especially when touching upon sensitive subjects.

In Malaysia, the Crackhouse Comedy Club faced indefinite banning due to a controversial stand-up routine that insulted Islam. The routine, which involved jokes about Islam and featured profanity, triggered outrage among Malaysians, particularly those who adhere to Islam. The comedian involved in the routine, Siti Nuramira binti Abdullah, was arrested on charges of insulting Islam.

As the comedy landscape evolves, it is crucial for comedians and comedy clubs to navigate the fine line between humor and sensitivity. The incidents involving Jocelyn Chia and Crackhouse Comedy Club serve as reminders of the impact that words can have and the responsibility of comedians to exercise cultural sensitivity and respect for diverse audiences.

Based on the news from Marketing Interactive.

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Once a $5.7 Billion Juggernaut, Vice Media Collapses into Bankruptcy https://www.marketinginasia.com/once-a-5-7-billion-juggernaut-vice-media-collapses-into-bankruptcy/ https://www.marketinginasia.com/once-a-5-7-billion-juggernaut-vice-media-collapses-into-bankruptcy/#respond Wed, 17 May 2023 10:47:30 +0000 https://www.marketinginasia.com/?p=71476 Just six years ago, Vice Media was cruising towards a potential IPO, boasting a valuation of $5.7 billion. Today, the once formidable media company has succumbed to Chapter 11 bankruptcy. Vice’s lenders – Fortress Investment Group, Soros Fund Management, and Monroe Capital, have collectively agreed to purchase the beleaguered company for a meager $225 million, […]

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Just six years ago, Vice Media was cruising towards a potential IPO, boasting a valuation of $5.7 billion. Today, the once formidable media company has succumbed to Chapter 11 bankruptcy.

Vice’s lenders – Fortress Investment Group, Soros Fund Management, and Monroe Capital, have collectively agreed to purchase the beleaguered company for a meager $225 million, approximately 4% of its 2017 worth. However, Vice retains the option to sell to any higher bidder that might emerge.

Vice’s co-CEOs, Bruce Dixon and Hozefa Lokhandwala, maintain a positive outlook. In a recent press statement, they claimed, “This expedited, court-supervised sale will revitalize the company and set Vice up for sustained growth in the future. With new ownership, a simplified capital structure, and the removal of legacy liabilities, we’re freeing our business from the burdens of the past.”

The media industry has been on a rough ride, with Vice’s bankruptcy further clouding the outlook. Recent developments have seen BuzzFeed News, a Pulitzer Prize winner, close its doors as part of an overarching layoff impacting 15% of the company’s workforce. MTV News, too, has ceased operations, resulting in 25% job cuts at its parent company, Paramount. Vice hasn’t been immune to these changes, shutting down its TV program “Vice News Tonight” and several verticals like Vice World News, Vice Audio, and Waypoint.

Also Read Unleashing Women’s Potential: Tech Companies Leading The Way In Empowering Malaysia’s Workforce

However, Vice’s predicament cannot be solely attributed to the industry’s troubles. A mix of poor management decisions during the “pivot-to-video” era and an alleged “boy’s club” work culture set the stage for Vice’s downfall. Accusations of sexual harassment and a series of managerial blunders led to a leadership shakeup, with founder and CEO Shane Smith stepping down. His successor, Nancy Dubuc, also resigned suddenly in February amid the company’s financial disarray.

As per Vice’s financial disclosures, the company is staggering under approximately $834 million in debt. During the ongoing sale process, which is expected to last several months, Vice will have access to over $20 million in financing from its lenders to maintain operations.

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The Unforgettable Connection: India’s Love Affair with the Backstreet Boys and Its Impact https://www.marketinginasia.com/the-unforgettable-connection-indias-love-affair-with-the-backstreet-boys-and-its-impact/ https://www.marketinginasia.com/the-unforgettable-connection-indias-love-affair-with-the-backstreet-boys-and-its-impact/#respond Tue, 09 May 2023 08:33:50 +0000 https://www.marketinginasia.com/?p=70022 Growing up in India during the 90s was an exciting time, as the nation underwent a period of significant transformation, thanks to economic liberalization. As a young music enthusiast, I witnessed the impact of these changes on the Indian music scene, with the growing democratization of commodities making ‘English’ music more accessible to the masses. […]

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Growing up in India during the 90s was an exciting time, as the nation underwent a period of significant transformation, thanks to economic liberalization. As a young music enthusiast, I witnessed the impact of these changes on the Indian music scene, with the growing democratization of commodities making ‘English’ music more accessible to the masses. This newfound accessibility introduced me, like many others in India, to the Backstreet Boys, and my love for their music is a testament to the impact of liberalization on the country’s music landscape.

1. The Winds of Change: India’s Liberalization Journey

In 1991, India embarked on a path of economic liberalization, transitioning from a closed, state-controlled economy to a more open and market-driven one. I remember how this shift paved the way for foreign investments, imported goods, and a plethora of new opportunities. For me, one of the most significant changes during this period was the growing accessibility to global commodities, including music. The barriers that once confined ‘English’ music to a select few were breaking down, allowing me to explore various international music genres.

2. The Democratization of Music: Embracing the Global Tune

As India moved towards liberalization, the music landscape began to change. Imported CDs, cassettes, and music magazines became more readily available in local stores, making it easier for me to explore my passion for international music. I also remember the rapid growth of cable television networks, such as MTV and Channel V, allowing me to enjoy international music videos in the comfort of my home. The airwaves, too, began to include a mix of Indian and international music, exposing me to a diverse range of genres and artists.

3. Meeting the Backstreet Boys: A Love Affair Begins

During the mid-90s, I discovered the Backstreet Boys, a boy band that took the world by storm with their catchy pop tunes, synchronized dance moves, and undeniable charm. As their music made its way into Indian homes through television and radio, I found myself drawn to their infectious melodies, relatable lyrics, and energetic performances. Songs like “I Want It That Way,” “Quit Playing Games (With My Heart),” and “As Long As You Love Me” quickly became anthems for me and my friends, as we eagerly embraced global culture.

4. The Influence of the Backstreet Boys on My Musical Tastes

The Backstreet Boys’ popularity in India had a significant impact on my musical preferences. Their music inspired me to explore other international artists, expanding my musical horizons. I also developed a deeper appreciation for the fusion of Western pop elements with traditional Indian music, as the Indian music industry began to experiment with new sounds in the wake of the boy band’s success. This exploration led me to discover the Indipop genre, which gained momentum in the late 90s.

5. A Lasting Legacy: The Backstreet Boys’ Impact on India’s Musical Landscape

As I look back on my musical journey during India’s liberalization period, I’m reminded of the lasting impact the Backstreet Boys had on the nation’s music scene. Their success in India played a significant role in paving the way for other international artists to make inroads into the country, ultimately enriching the nation’s musical palate. Today, as digital platforms like Spotify, Apple Music, and YouTube provide listeners with access to an even more extensive range of international music, I’m grateful for the spirit of exploration and embracing global tunes that began during my formative years in the 90s.

My experience growing up in India during the 90s, amidst a rapidly changing music landscape, is a testament to the power of music to transcend borders, unite people, and create lasting memories. The Backstreet Boys, in particular, played a significant role in shaping my musical tastes and fostering a love for international music. As a result of India’s liberalization journey, I was exposed to a diverse range of genres and artists, which ultimately broadened my musical horizons.

Looking back on those days, I’m filled with nostalgia for the times spent with friends, singing along to our favorite Backstreet Boys tracks, and eagerly awaiting their latest music videos on television. The excitement and anticipation of attending their concerts or catching a glimpse of them in magazines are memories I will cherish forever.

The impact of the Backstreet Boys on India’s musical landscape and my personal experiences serves as a reminder of the transformative power of music. It has the ability to connect people from different backgrounds and cultures, fostering a sense of unity and shared experiences. For me, the Backstreet Boys will always be a symbol of the remarkable period of change that India underwent during the 90s and the unforgettable memories it created.

Also Read: Revolutionizing Music Marketing: Spotify’s New Video Formats and Tools for Artists

As I continue to explore new music and engage with a diverse range of artists from around the world, I’ll always remember the impact that the Backstreet Boys and India’s liberalization had on shaping my musical journey. Their legacy lives on, not just in the Indian music scene, but also in the hearts and minds of those who grew up with their music during that pivotal time in India’s history.

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Diljit Dosanjh Rocks Coachella 2023: A Punjabi Sensation Takes the World by Storm https://www.marketinginasia.com/diljit-dosanjh-rocks-coachella-2023-a-punjabi-sensation-takes-the-world-by-storm/ https://www.marketinginasia.com/diljit-dosanjh-rocks-coachella-2023-a-punjabi-sensation-takes-the-world-by-storm/#respond Tue, 18 Apr 2023 17:59:03 +0000 https://www.marketinginasia.com/?p=68289 The 2023 Coachella Valley Music and Arts Festival witnessed a historic and unforgettable performance by multi-talented Punjabi superstar Diljit Dosanjh. Known for his melodious voice, charismatic presence, and versatility, Diljit brought a fresh wave of energy and enthusiasm to the festival’s stage, mesmerizing the audience with his unique blend of Punjabi folk, Bhangra, and pop […]

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The 2023 Coachella Valley Music and Arts Festival witnessed a historic and unforgettable performance by multi-talented Punjabi superstar Diljit Dosanjh. Known for his melodious voice, charismatic presence, and versatility, Diljit brought a fresh wave of energy and enthusiasm to the festival’s stage, mesmerizing the audience with his unique blend of Punjabi folk, Bhangra, and pop music. As the first Punjabi star to perform at the popular US festival, Diljit showcased his exceptional musical prowess and his ability to bridge cultural gaps, leaving a lasting impression on everyone in attendance.

Stage Presence and Attire

Diljit Dosanjh, immensely popular among the Indian diaspora, rocked an all-black outfit during his performance. He added more to this look with a matching turban, sunglasses and gloves – exuding style and confidence in a unique way! His performance was not only a treat for the ears but also for the eyes, as the stage was adorned with vibrant LED screens that displayed a mesmerizing array of visuals, perfectly synchronized with the music. The energetic live Bhangra dancers, dressed in traditional Punjabi attire, added an extra layer of excitement and culture to the performance, further captivating the audience.

Source: https://www.youtube.com/

Setlist Highlights and Audience Reactions

Diljit’s 45-minute setlist at Coachella 2023 included a mix of his greatest hits, popular Punjabi anthems, and a few surprises. The show opened with his chart-topping hit, “Do You Know,” setting the stage for a high-energy performance that had the crowd dancing and singing along. Diljit followed up with evergreen Bhangra numbers like “5 Taara” and “Patiala Peg,” which kept the momentum going and had the audience grooving to the beats. His performance of “Laembadgini” left the audience in awe as he showcased his vocal prowess, effortlessly hitting high notes and delivering the catchy tune with finesse.

Also Read: Maybelline New York India taps Gen Z icons Suhana Khan, Ananya Birla, and Eksha Subba as brand ambassadors

Diljit Dosanjh was undoubtedly the star of the night with his chartbuster “G.O.A.T.” and a stunning version of “Proper Patola”. His swagger & charisma filled the atmosphere and made it a sensation to remember. His smash hits like “Vibe” and “Lemonade” had the audience swaying and partying along to the music. The atmosphere during his concert was electric and filled with euphoria as the show closed. Diplo was seen joining the enthusiastic crowd, dancing to Diljit’s captivating performance that had an unmatched energy.

Fans were all praise for his energy and performance. Reactions to viral videos of Diljit’s performance were filled with pride and excitement, as fans called it a historic night in California and an inspiring moment for Punjab and the entire diaspora worldwide. The diversity or “brown inclusivity” at the US festival was praised across platforms, with fans beyond excited to see their culture and community getting represented at Coachella.

Celebrity Praise and Coachella’s Official Acknowledgment

Several B-town celebs congratulated the singer on their Instagram accounts. Kareena Kapoor Khan uploaded an Instagram reel featuring Diljit performing at Coachella, while Arjun Kapoor hailed him as G.O.A.T (Greatest Of All Time) in his story post.

Rakul Preet Singh was thrilled to see Diljit Dosanjh proudly display Punjabi culture at Coachella. She was absolutely delighted with his show at Coachella and could not contain her happiness. She took to social media to express her admiration by uploading a video of his performance with the caption “Wohoo Punjabi Fever at Coachella! What a firecracker you are. Dil Jit Lita Sab Da.”

Source: https://twitter.com/

Coachella’s official Twitter handle also shared a glimpse of Diljit’s performance with their fans, celebrating the historic moment and the cultural impact of his electrifying performance.

Indian-Origin Artists at Coachella

Diljit Dosanjh might be the first mainstream Indian artist to perform at Coachella, but he is not the first Indian-origin artist to do so. Here are three Indian-origin artists who have performed at Coachella before Diljit:

  1. In 2022, Raveena Aurora made history by becoming the first Indian-origin woman to perform at Coachella. Her set featured her own original songs, as well as a rendition of “Dum Maaro Dum.” It was a show not to be missed!
  2. Ritesh D’souza has made history by becoming the first-ever Indian-origin artist to perform at Coachella, as part of the musical duo B.R.E.E.D alongside Tara Mae. He was previously known as DJ Nasha and has now achieved this incredible feat!
  3. Well-known British artist Jai Paul, who is of Indian heritage, has been added to the Coachella 2023 lineup. His enigmatic persona has made him an intriguing pop artist in today’s music industry.

The festival was graced by an array of talented artistes such as Ali Sethi, BLACKPINK, Kid Laroi, Charli XCX, Labrinth, Jai Wolf, Joy Crookes, Jai Paul, Frank Ocean and Underworld.

The Impact of Diljit’s Performance

Diljit Dosanjh’s electrifying performance at Coachella 2023 was a testament to his unparalleled talent and versatility. By introducing the global audience to the magic of Punjabi music and culture, Diljit has undoubtedly left an indelible mark on the festival’s history. His performance will be remembered as one of the most vibrant and culturally diverse acts ever to grace the Coachella stage.

Every year, the Coachella Valley Music & Arts Festival held in Indio, California proves to be immensely successful and highly lucrative for all involved. It’s now known across the globe as one of the top music festivals.The world’s biggest celebrities have been attending Coachella, causing an uproar of excitement amongst their fans who can’t wait to catch a glimpse of them. This increased media presence has only made the event more popular & exciting.

Diljit Dosanjh’s groundbreaking performance at Coachella 2023 was a true celebration of Punjabi music and culture, breaking barriers and bringing the world closer through the power of music. As the first Punjabi star to perform at the popular US festival, Diljit’s performance serves as an inspiration for artists worldwide, proving that music transcends borders and has the power to unite people from all walks of life.

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India Today Group Launches India’s First AI Anchor Sana For Daily News Updates https://www.marketinginasia.com/india-today-group-launches-indias-first-ai-anchor-sana-for-daily-news-updates/ https://www.marketinginasia.com/india-today-group-launches-indias-first-ai-anchor-sana-for-daily-news-updates/#respond Mon, 20 Mar 2023 07:05:13 +0000 https://www.marketinginasia.com/?p=64279 The India Today Group has launched its first bot AI collaborative anchor Sana during India Today Conclave 2023. The Vice-Chairperson of India Today Group, Kalli Purie, introduced Sana as the group’s first AI anchor who will bring daily news updates several times a day in multiple languages. The AI anchor will also explain one relevant […]

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The India Today Group has launched its first bot AI collaborative anchor Sana during India Today Conclave 2023. The Vice-Chairperson of India Today Group, Kalli Purie, introduced Sana as the group’s first AI anchor who will bring daily news updates several times a day in multiple languages. The AI anchor will also explain one relevant topic every day, and the audience can ask questions, which Sana will answer.

Aajtak AI

A new show with Sana as the host will feature multiple languages and news updates. Purie has described Sana as “bright, gorgeous, ageless, tireless, speaks in multiple languages and is totally under my control.”

Constant Innovation: AI and Human Collaborative Magic

The introduction of Sana is an example of constant innovation, and Purie believes that AI does not take away from the brilliance of real-life anchors. She has said that Sana will have a human surrogate editor and soon, hopefully, a company of her own.

India Today

Purie has emphasised that this is not a competition between humans and AI, but rather a collaborative effort that will lead to creating magic. The future is fascinating and frightening, and it is here, she said.

AI Anchor Sana meets PM Modi
Aaj Tak

When Purie introduced Sana to the honourable Prime Minister of India, Shri Narendra Modi, she described her as a highly ambitious individual who aspires to conduct an exclusive interview with the PM in 2024.

The Pressure on Media and Credibility

Kalli Purie also spoke about the pressure on media from political parties, business houses, foreign governments, and larger-than-life professionals. She noted that this pressure is not new and not singular. Despite this, India Today has never compromised on the stories it tells, and its credibility is important.

Also read: 3 Ways How A.I Is Redefining Customer Engagement

The launch of AI-driven anchor Sana is a groundbreaking achievement in the media industry. It is a collaboration between human creativity and AI technology that promises to bring the audience daily news updates in multiple languages. India Today Group’s Vice-Chairperson Kalli Purie’s statement that Sana will have a human surrogate editor and a company of her own soon is a testimony to the constant innovation and creativity that the media industry is capable of. This is not a competition between humans and AI, but rather a collaboration that will lead to creative magic, making the future fascinating and exciting.

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Uncovering the Domino Effect: How the Silicon Valley Bank (SVB) Collapse Could Trigger a Start-up and Stock Market Meltdown https://www.marketinginasia.com/uncovering-the-domino-effect-how-the-silicon-valley-bank-svb-collapse-could-trigger-a-start-up-and-stock-market-meltdown/ https://www.marketinginasia.com/uncovering-the-domino-effect-how-the-silicon-valley-bank-svb-collapse-could-trigger-a-start-up-and-stock-market-meltdown/#respond Wed, 15 Mar 2023 05:46:02 +0000 https://www.marketinginasia.com/?p=63527 Hindenburg’s attempt to bring down Adani has been the hot topic of discussion in the media recently. However, what many people are not talking about is the collapse of Silicon Valley Bank (SVB). SVB, which was rated as the best bank in the US just a week ago, has now collapsed, triggering a chain reaction […]

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Hindenburg’s attempt to bring down Adani has been the hot topic of discussion in the media recently. However, what many people are not talking about is the collapse of Silicon Valley Bank (SVB). SVB, which was rated as the best bank in the US just a week ago, has now collapsed, triggering a chain reaction that could lead to the failure of other startups, funds, and banks, ultimately leading to a stock market meltdown in the US with global consequences.

While Hindenburg was busy finding faults with Indian companies, banks in their own backyard are falling at a frightening pace. The collapse of the Silicon Valley Bank, a key player in the tech startup world, is a stark reminder of how interconnected the business world has become. The collapse of one bank can have a ripple effect that impacts everything from startups to investment funds to the stock market as a whole.

Silicon Valley Bank (SVB)
source: The Economic Times

SVB has long been the go-to bank for startups and venture capitalists. It has built a reputation as a reliable and trustworthy bank that provides funding and other support to early-stage startups. It has been instrumental in the success of many well-known startups, including Uber, Airbnb, and DoorDash.

However, things started to go wrong for SVB when it became heavily involved with a number of high-profile clients, including Adani and his companies. Adani, who is one of the richest men in India, has a history of controversies and allegations of corruption. When Hindenburg published a report accusing Adani of fraudulent activities, SVB found itself caught in the middle.

Also Read Missed Warnings: Examining the Oversight Failures Leading to the Collapse of SVB

The report caused Adani’s stock prices to plummet, and SVB was left with a significant amount of exposure. It is estimated that SVB has over $200 million in exposure to Adani and his companies, which is a significant amount for a bank of its size. This exposure put a strain on the bank’s finances, and ultimately led to its collapse.

The collapse of SVB has serious implications for the startup and venture capital ecosystem. Many startups rely on SVB for funding and support, and the collapse of the bank could lead to a domino effect, with other startups and funds failing. This, in turn, could lead to a meltdown in the stock market, as investors lose confidence in the startup ecosystem and start selling off their shares.

Silicon Valley Bank (SVB) 2
source: The Indian Express

The collapse of SVB also highlights the need for greater regulation in the startup and venture capital space. The industry has long been seen as a Wild West, with little oversight and regulation. However, the collapse of SVB shows that this laissez-faire approach can have serious consequences.

In conclusion, while the media is focused on Hindenburg’s attempt to bring down Adani, the collapse of SVB is a more significant event with far-reaching consequences. It is a wake-up call for the startup and venture capital industry, and highlights the need for greater regulation and oversight. If we do not act now, we risk a domino effect that could lead to a stock market meltdown with global consequences.

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Viral Post Showcases SoftGrid Computers’ Unique Approach to Work-Life Balance https://www.marketinginasia.com/viral-post-showcases-softgrid-computers-unique-approach-to-work-life-balance/ https://www.marketinginasia.com/viral-post-showcases-softgrid-computers-unique-approach-to-work-life-balance/#respond Sun, 19 Feb 2023 09:12:28 +0000 https://www.marketinginasia.com/?p=59510 SoftGrid Computers is an IT firm located in Indore, Madhya Pradesh and has been receiving appreciation for its innovative ways of promoting work-life balance. Tanvi Khandelwal, a HR professional at the company, recently shared on LinkedIn that the computers of employees are automatically powered off if they work beyond their shift timings. This move has […]

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Source: Tanvi Khandelwal/LinkedIn

SoftGrid Computers is an IT firm located in Indore, Madhya Pradesh and has been receiving appreciation for its innovative ways of promoting work-life balance. Tanvi Khandelwal, a HR professional at the company, recently shared on LinkedIn that the computers of employees are automatically powered off if they work beyond their shift timings. This move has received a lot of attention and appreciation.

Khandelwal posted a picture of her desk with a “caution” sign displayed on her monitor. The notice said: “Your work period is done. The company system will close in 10 minutes. Please go home now!” According to Khandelwal, SoftGrid Computers promote a warm & content working environment that eliminates the need for initiatives such as “Monday Motivation” or “Fun Fridays” to uplift the morale of their employees.

Khandelwal’s LinkedIn post has garnered over 3.3 lakh likes, with some users lauding the company for its initiative, while others expressing concerns about the potential pressure that may be created for workers.

Some users praised the company for taking a proactive approach to promoting work-life balance, with one user commenting that the reminder to not work outside of business hours was a small but significant gesture. Others expressed their desire to work in a company with such a culture, describing it as the ideal work-life balance scenario.

However, there were also concerns raised about the effectiveness of this approach in promoting work-life balance, with some users describing it as a reverse psychology tactic that could create pressure to meet deadlines early. Some users argued that it was important to allow employees to manage their own timelines and avoid controlling their behaviors. Others expressed concern that such an approach could be counterproductive, particularly when workers were in the middle of an important task or an inspirational thought.

Also Read: Is the Indian Sector Ready to be the Next Destination For Aviation Companies?

In conclusion, while SoftGrid Computers’ approach to promoting work-life balance has garnered attention and praise from some quarters, it has also raised concerns and criticisms from others. It remains to be seen how effective this approach will be in promoting a healthy work-life balance, and whether other companies will adopt similar approaches in the future. Ultimately, the key to promoting work-life balance lies in creating a supportive and flexible work culture that enables employees to balance their work and personal lives in a way that is sustainable and fulfilling for them.

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Adani Enterprises reports Q3 profit boost despite Hindenburg controversy https://www.marketinginasia.com/adani-enterprises-reports-q3-profit-boost-despite-hindenburg-controversy/ https://www.marketinginasia.com/adani-enterprises-reports-q3-profit-boost-despite-hindenburg-controversy/#respond Wed, 15 Feb 2023 12:05:10 +0000 https://www.marketinginasia.com/?p=59091 Despite the allegations levied against it by US short-seller Hindenburg, Adani Enterprises – the prominent firm of the Adani Group – reported a profit of Rs 820 crore in its Q3 fiscal year 2022-23. This is a testament to their resilience and determination. A surge in the coal trading business, combined with the success of […]

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Despite the allegations levied against it by US short-seller Hindenburg, Adani Enterprises – the prominent firm of the Adani Group – reported a profit of Rs 820 crore in its Q3 fiscal year 2022-23. This is a testament to their resilience and determination. A surge in the coal trading business, combined with the success of its new energy ventures, led to the remarkable results.

source: Livemint

In the corresponding quarter of last year, the firm had posted a net loss of Rs 11.6 crore. Additionally, Adani New Energy saw an increase in both volumes and prices of solar modules while Coal Trading Division’s volumes and prices rose significantly. The EBITDA for the coal trading business skyrocketed four times its prior value, and the Adani New Energy division more than doubled in size.

Gautam Adani, Chairman of the Adani Group, highlighted the organisation’s incredible perseverance and success in developing immensely profitable core sector businesses. He calmed investors by reassuring that the current market instability is only a short-term issue and Adani Enterprises would still be concentrating on limiting leverage & pursuing growth opportunities.

Adani Enterprises reported some positive earnings, signifying the strength of its multiple business ventures- ranging from coal mining to airports, data centers, digital services and metals. Despite a few issues recently, such as the halted $2.5 billion share sale and plummeting stock values, Adani Enterprises has refused Hindenburg’s claims and provided an answer to the stock markets.

Source: TOI via BloomBerg

Also Read Uncovering the Truth Behind Hindenburg Research: Is it a Legitimate Research Firm or a Short-Selling Looters?

Owing to the volatile market conditions, the company chose to call off its fully subscribed follow-on public offer and instead released the entire amount of its offer. Adani Enterprises clarified that their financial results for the quarters and nine months ending December 31, 2022, did not require any material amendments in response to the allegations made by Hindenburg.

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India Joins the Global Race for Lithium-Ion Batteries https://www.marketinginasia.com/india-joins-the-global-race-for-lithium-ion-batteries/ https://www.marketinginasia.com/india-joins-the-global-race-for-lithium-ion-batteries/#respond Mon, 13 Feb 2023 16:44:54 +0000 https://www.marketinginasia.com/?p=58763 India’s Mines Ministry made a remarkable announcement on Thursday—In an exciting development, Jammu and Kashmir has been found to have a staggering 5.9 million tons of lithium reserves! This newfound reserve is a major milestone for India, marking the first time that the country has recorded lithium reserves within its borders. The Geological Survey of […]

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India’s Mines Ministry made a remarkable announcement on Thursday—In an exciting development, Jammu and Kashmir has been found to have a staggering 5.9 million tons of lithium reserves! This newfound reserve is a major milestone for India, marking the first time that the country has recorded lithium reserves within its borders. The Geological Survey of India recently verified the presence of lithium in Salal-Haimana, Jammu and Kashmir, as inferred resources (G3). Further, the Ministry of Mines has allocated 51 mineral blocks, consisting of lithium and gold, to different state governments.

The need for Lithium, a non-ferrous metal, has skyrocketed due to its key role in electric vehicle batteries. Out of the 51 mineral blocks being offered for exploration, five are for gold mining. In addition to that, states like Jammu and Kashmir (UT), Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, and Telangana, are known to have resources like potash and molybdenum. These areas are also rich in base metals. Since 2018, the Geological Survey of India has been working towards exploring these resources and the information obtained has aided in the proper planning and preparation of these mineral blocks.

BloombergNEF has reported the first-ever surge in lithium-ion battery prices during the EV time, with lithium being the main component of this sector’s growth. Elon Musk has shown his annoyance towards lithium’s dramatic climb and high costs of raw materials have become an important stumbling block for Tesla. In a bid to promote electric vehicles, the government has launched several incentives amounting to around $3.4 billion. This is an effort by PM Narendra Modi to reach net zero by 2070.

Also Read: Gogoro’s All-In Approach to Revolutionize India’s Electric Vehicle Market

India’s aim is to produce the most expensive part of electric vehicles, batteries, locally in order to make them more cost-effective for the general public. This can also give India a competitive edge in the global market by becoming an exporter as the worldwide demand for electric cars increases.Mukesh Ambani is just one of many wealthy individuals who are taking a keen interest in investing in clean energy initiatives. He has pledged $76 billion for this cause and is building a battery facility for electric vehicles as part of Reliance Industries Ltd’s mission. Mukesh Ambani’s Ola Electric Mobility Pvt., Rajesh Exports Ltd. and another firm are set to get returns from the $2.3 billion initiative that enables the production of cutting-edge battery cells. This program is expected to greatly aid their development.

The need for lithium-ion batteries is on the rise globally, as a shift is happening away from gasoline-powered engines to electrified vehicles and energy storage solutions. However, India lacks a significant portion of the raw materials needed to fulfill its domestic demand for these batteries, which is expected to soar 100 times by 2030, according to a forecast by Crisil. The situation is further complicated by the high barriers to entry and China’s dominance in this sector. To address these challenges, Manikaran Power Ltd is establishing India’s first lithium refinery and looking for opportunities to acquire nickel, cobalt, and copper assets abroad.

India has a long way to go to catch up, and faces competition from other countries, including the US, which is pushing to grow domestic battery production in an effort to break China’s hold on the market.

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Artistic Freedom vs. Trademark Protection: The MetaBirkins Trial https://www.marketinginasia.com/artistic-freedom-vs-trademark-protection-the-metabirkins-trial/ https://www.marketinginasia.com/artistic-freedom-vs-trademark-protection-the-metabirkins-trial/#respond Fri, 10 Feb 2023 06:58:57 +0000 https://www.marketinginasia.com/?p=58179 A Manhattan federal jury awarded Hermès International SA $133,000 in damages after determining that digital artist Mason Rothschild’s sale of the “MetaBirkin” NFTs violated Hermès’ rights to the “Birkin” trademark. The case was the first of its kind to examine NFTs through the lens of intellectual property law and could have a significant impact on […]

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A Manhattan federal jury awarded Hermès International SA $133,000 in damages after determining that digital artist Mason Rothschild’s sale of the “MetaBirkin” NFTs violated Hermès’ rights to the “Birkin” trademark. The case was the first of its kind to examine NFTs through the lens of intellectual property law and could have a significant impact on future NFT cases. The 100 MetaBirkin NFTs, which depict Hermès’ Birkin handbag covered in colorful, cartoonish fur, were found to be more like consumer products subject to strict trademark laws. Rothschild, however, believes that the verdict was wrong and that the fight is far from over.

Throughout the trial, Rothschild defended his “MetaBirkin” NFTs as works of art protected by the First Amendment, drawing parallels to Andy Warhol’s famous Campbell’s soup cans. He characterized the NFT project as an “artistic experiment” that examined society’s value placed on status symbols. Rothschild sold the NFTs for around $450 each initially, but their resale value skyrocketed to tens of thousands of dollars. A blockchain expert testified that Rothschild made around 55.2 Ethereum tokens, worth about $87,700 today.

Rothschild’s claim for more artistic liberty hit a roadblock when District Judge Jed S. Rakoff prohibited renowned art critic Blake Gopnik from providing their expert opinion to the jury. Gopnik, who wrote the 2020 biography “Warhol,” could have established a connection between the MetaBirkins and Warhol’s art.

In response to the verdict, Rothschild criticized Hermès, calling them a “multibillion dollar luxury fashion house,” for claiming to care about artists but also claiming the right to define what art is and who is an artist. Hermès and Rothschild disputed the survey results conducted by Hermès’ expert witness, which showed a net confusion rate of 18.7% amongst prospective NFT buyers. Meanwhile, Rothschild’s specialist witness argued that the poll misclassified participants, leading to a decreased net confusion rate of 9.3%.

Also Read: Christian Dior Facing Class Action Lawsuit For Falsely Labelling SPF Products

Balancing Trademark and Speech

In January, Hermès filed a lawsuit after observing that some media outlets mistakenly identified the MetaBirkins as a project endorsed by the company. Hermès claimed that, although it does not currently sell NFTs, the MetaBirkins hindered its efforts to enter the NFT market and argued that if it wants to bring its bag into the virtual world, the MetaBirkins will always be a reference.

At the trial, Hermès’ lawyers presented a large number of text messages as proof for Rothschild’s intention to create the same level of exclusivity and demand for their popular handbags. In Rothschild’s letters, he spoke of “pumping” and “schilling” stocks, as well as looking for large investors called “whales.”

To protect their interests, Rothschild engaged the services of Lex Lumina PLLC’s IP specialists who defended its case using the established “Rogers” legal test that has been around for several decades. Rogers v. Grimaldi (1989) established a standard that allows artists to use trademarked elements in their works if they are inspired by it and do not lead the public to believe something deceptive. This interpretation of the law permits creators to use trademark without formal permission, as long as a minimal level of artistic relevance is met.

Also Read: New York, Paris Fashion Weeks Topliner And Local Fashion Social Enterprise Kandama Forays Into Blockchain And NFT Space

During his closing statement, Millsaps argued that Hermès did not fulfill the rigorous requirements of the First Amendment. Rothschild tried to have the case dismissed based on the Rogers Test but Judge Rakoff felt that more information was required to assess it. Following their collection of survey data & expert testimony, Judge Rakoff again refused the pre-trial victories of both parties in late 2022.

During closing arguments, Harris of Harris St. Laurent & Wechsler LLP stated that Hermès was unfairly targeting a small, independent artist who had made himself an artist without receiving any special treatment.

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A New Era for Keventers: Expanding Globally with a Fresh Approach https://www.marketinginasia.com/a-new-era-for-keventers-expanding-globally-with-a-fresh-approach/ https://www.marketinginasia.com/a-new-era-for-keventers-expanding-globally-with-a-fresh-approach/#respond Thu, 09 Feb 2023 13:24:15 +0000 https://www.marketinginasia.com/?p=58145 Keventers, creator of the iconic milkshake is India’s first very own ‘Made in India’ brand. Established in 1925 by Edward Keventer. It then became famed for its milkshakes. Keventers, founded in the 1920s. It was one of the first milkshake brand in India. The brand, was based in Delhi, was first established by Danish dairy […]

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Keventers, creator of the iconic milkshake is India’s first very own ‘Made in India’ brand. Established in 1925 by Edward Keventer. It then became famed for its milkshakes. Keventers, founded in the 1920s. It was one of the first milkshake brand in India. The brand, was based in Delhi, was first established by Danish dairy entrepreneur Edward Keventer. Ram Krishna Dalmia, an industrialist, later bought it. After the 1970s, the company started to decline, and was running in a small capacity. The brand was then revived in 2015 by Agastya Dalmia, Aman Arora and Sohrab Sitaram. They made milkshakes using some of the grandfather’s old recipes. Since then, Keventers has made a comeback and significantly increased its presence in the country.

Also Read: The Power of Respect: Govind Dholakia’s Journey to Building India’s Most Respected Family Business

The company chose the retail route and opened more than 200 stores throughout the nation. Keeping the vintage tone alive with its signature glass bottles. The trio has completely revamped the brand in a way that makes it strike a chord with modern-day consumers. Presently Keventers has brand presence across India, Nepal, UAE, Oman and Kenya. We spoke with the Founder and CEO of Keventers, India’s first authentic “Made in India” milkshake brand, Mr. Agastya Dalmia. Agastya has always been very excited about his journey with Keventers. They are aggressively changing and evolving its identity through unique marketing-led activities, pan India campaigns and creating an image that Millennials can truly relate to.

Source:Keventers

Can you tell us about Keventers as we know it today?

A legacy dating back to 1925, Keventers is synonymous with delicious dairy products; combined with the feeling of nostalgia and love for the modern. Being an iconic milkshake brand, Keventers’ core brand values lie in celebrating the past of making authentic and delicious milkshakes and desserts, while bringing in the flavours of today to the world.

How did you go about positioning Keventers when market is full of so different kinds of beverages?

The value proposition of Keventers reflects in its exclusive product of Milkshakes and Desserts which is a combo of both quality and taste; also, in the attractive packing of milkshake bottles/Jars of Keventers, which have also become collectibles among its diverse consumer base! It is one of India’s few successful dessert brands, which over the years, has introduced unique and fun consumer-engaging marketing strategies. That have ultimately positioned the brand as a favorite amongst the millennials and Gen Z.

How did you go about managing the distribution to ensure quality of your products across all outlets?

The brand follows standard recipes and operating procedures to maintain a consistent menu across all its outlets. This allows them to ensure quality and consistency, leading to a strong brand presence.

What are your plans for 2023 as Keventers onboards Jubilant as a minority partner?

The brand is planning to open new stores and expand its footprint pan India and globally, while also foraying into alternate channels such as D2C, FMCG, and cloud kitchens. It plans to open over 300 stores in the next three- four years with the additional aim to grow the ice cream business. Which has shown tremendous growth since the pandemic.

Also Read: How do Luxury Brands Use Social Media to Market Themselves

What are new trends to watch out for in 2023 in F&B sector?

In 2023, the food and beverage industry is expected to witness trends reflecting changing consumer preferences and an increasing focus on health, sustainability, and convenience (i.e growth in online delivery services). One of the biggest trends to emerge in the food and beverage industry has been direct-to-consumer. E-Commerce – helping brands with consumer behavior insights and ultimately resulting in a more customized user experience in the upcoming years.

With more people inclining towards wellness, there would be an increase in the demand for plant-based diets, thereby providing product diversification opportunities to brands. Increased transparency in the products being consumed(calorie count info) is also one of the most significant emerging trends.

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Unpacking the Adani Group Controversy: True or False? https://www.marketinginasia.com/unpacking-the-adani-group-controversy-true-or-false/ Wed, 08 Feb 2023 10:38:54 +0000 https://www.marketinginasia.com/?p=57863 The Adani Group, one of India’s largest conglomerates, has been the subject of accusations made by short seller Hindenburg Research. The accusations include stock manipulation and accounting fraud, which Adani denies. Hindenburg has accused Adani of using shell companies, particularly three companies based in Mauritius, to control a significant portion of Adani’s stock. Adani has […]

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The Adani Group, one of India’s largest conglomerates, has been the subject of accusations made by short seller Hindenburg Research. The accusations include stock manipulation and accounting fraud, which Adani denies. Hindenburg has accused Adani of using shell companies, particularly three companies based in Mauritius, to control a significant portion of Adani’s stock. Adani has stated that the referenced entities are public shareholders and not related parties or promoters and that a public listed company has no control over who buys or sells its shares.

Amid Adani-Hindenburg controversy
Amid Adani-Hindenburg controversy / source: Live Law

In addition to the accusations regarding the use of shell companies, Hindenburg has also accused individuals in the Adani Group of involvement in a diamond trading scheme and tax evasion. Adani has stated that these matters have been closed and dismissed in their favor, and have been disclosed to their stakeholders.

Hindenburg has also accused Adani of frequent changes in its CFOs, with five CFOs resigning in eight years. Adani has responded by stating that many of the former CFOs are still with the company and that the resignations were due to personal pursuits and larger roles within the organisation. Finally, Hindenburg has accused Adani of using its current auditing firm to manipulate its share price, a claim that Adani calls baseless, selective, and misinformed and is exploring legal action against Hindenburg.

Short selling, as demonstrated by Hindenburg, raises questions about ethics and morality, although it is not illegal. The Hindenburg report focuses on the Adani Group, which has a net worth of roughly 120 billion dollars and points to the appreciation of stock prices in Adani’s seven key listed companies as the main reason for this growth. However, Hindenburg also highlights the debt strategy of the Adani Group as a critical factor in their success. According to Hindenburg, 5 out of the 7 Adani companies have a current ratio of less than one, but Adani has responded that the growth of their EBITDA is 2x the growth of their debt over the last five years and their net debt to run rate EBITDA ratio has decreased over time.

Also Read Zoom Announces Layoffs of 15% of Workforce as COVID-19 Impact Continues

The allegations made against the Adani Group by Hindenburg Research raise questions about the sources of their wealth and the ethics of short selling. Adani has denied the allegations and is exploring legal action against Hindenburg. The current ratio of Adani’s seven key listed companies, as well as the pledged promoter shares, indicate that the risk with share pledging has reduced in the past three years.

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OnePlus Shakes Up the Premium Market with its Latest Launch – The OnePlus 11 Series https://www.marketinginasia.com/oneplus-shakes-up-the-premium-market-with-its-latest-launch-the-oneplus-11-series/ Tue, 07 Feb 2023 16:26:00 +0000 https://www.marketinginasia.com/?p=57789 The Chinese smartphone giant OnePlus is holding its most significant launch event of 2023, Cloud 11, in just a few hours. This year’s product lineup includes wireless earbuds, a premium television, and the debut of the OnePlus Pad tablet in India. However, the main attraction is the highly anticipated OnePlus 11 series, which is expected […]

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The Chinese smartphone giant OnePlus is holding its most significant launch event of 2023, Cloud 11, in just a few hours. This year’s product lineup includes wireless earbuds, a premium television, and the debut of the OnePlus Pad tablet in India. However, the main attraction is the highly anticipated OnePlus 11 series, which is expected to start at around Rs 50,000 (approximately US$605).However, until recently, there had been a lack of excitement surrounding the online launch of the new flagship series inside OnePlus Boulevard, the company’s largest store located in Bengaluru, India. Store employees reported that most of the banners inside the one-year-old store still promoted the previous flagship – the OnePlus 10 series. This shift in marketing can be attributed to a change in OnePlus’ strategy and fortunes in the Indian market.In the late 2010s, OnePlus dominated the premium smartphone segment with devices priced above Rs 30,000 (US$360). Its flagship phones broke shipment records and pioneered hardware and software innovations, often making up to 40% of sales in the category. A smartphone retailer based in Delhi noted that “OnePlus practically built up the segment.”

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Experience the Power of UPI Payments Globally with PhonePe’s UPI International https://www.marketinginasia.com/experience-the-power-of-upi-payments-globally-with-phonepes-upi-international/ Tue, 07 Feb 2023 12:38:57 +0000 https://www.marketinginasia.com/?p=57747 PhonePe, India’s leading digital payment platform, has announced the launch of its ‘UPI international’ feature. This new feature allows Indian travelers to pay international merchants using UPI while abroad. The feature is currently available in UAE, Singapore, Mauritius, Nepal, and Bhutan for all merchants with a local QR code. Making payments is immediately secure and […]

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PhonePe, India’s leading digital payment platform, has announced the launch of its ‘UPI international’ feature. This new feature allows Indian travelers to pay international merchants using UPI while abroad. The feature is currently available in UAE, Singapore, Mauritius, Nepal, and Bhutan for all merchants with a local QR code. Making payments is immediately secure and straightforward using PhonePe as they offer the first Indian fintech service around. Those who own an Indian bank account can pay in foreign currency – exactly the same as with an international debit card. This innovation is anticipated to revolutionize the lives of numerous Indian travellers.

Rahul Chari, the CTO and co-founder of PhonePe, stated that the launch of UPI international is the first step in allowing the rest of the world to experience UPI. Historically, Indians had to use foreign currency, credit, or forex cards to make payments at international merchants. With UPI International, PhonePe customers can set up their bank accounts linked to UPI for global transactions before visiting any merchant or while traveling. To ensure security, users need to enter their UPI pin during the activation process.

PhonePe has a huge user base with 43.5 crore registered users, meaning one in four Indians are on the platform. The company has also digitized 35 million offline merchants across tier 2,3,4 and beyond, covering 99% of the pin codes in India. PhonePe also leads the Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the platform, according to the company. The digital payment platform is the market leader with 50.2% market share and is the number one UPI app in India.

Also Read: UPI Transactions Reach INR 13 Lakh Cr in January 2023 with 1.3% MoM Growth

In conclusion, PhonePe’s UPI international feature makes it easier for Indian travelers to pay at international merchants without having to rely on foreign currency, credit, or forex cards. The process is secure and straightforward, making it a convenient solution for millions of Indians traveling overseas.

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Transform Your Startup Dreams into Reality: Get Inspired by Union Budget 2023’s Boosting Measures https://www.marketinginasia.com/transform-your-startup-dreams-into-reality-get-inspired-by-union-budget-2023s-boosting-measures/ Tue, 07 Feb 2023 06:43:06 +0000 https://www.marketinginasia.com/?p=57619 The Union Budget 2023, presented by the Finance Minister of India, Nirmala Sitharaman, has placed a significant emphasis on the nation’s thriving startup ecosystem. With India being the third largest global hub for startups, the government recognizes the need for further support and growth of the sector. The Minister emphasized the success of previous measures […]

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The Union Budget 2023, presented by the Finance Minister of India, Nirmala Sitharaman, has placed a significant emphasis on the nation’s thriving startup ecosystem. With India being the third largest global hub for startups, the government recognizes the need for further support and growth of the sector. The Minister emphasized the success of previous measures taken for startups and acknowledged India’s ranking as second in innovation quality among middle-income countries.

The Budget proposes to extend the date for eligible startups to receive income tax benefits and the duration for carrying forward losses for a longer period. This is to provide relief for startups and to redirect their earnings towards growth and expansion. To be eligible, the startups must be registered with the Department for Promotion of Industry and Internal Trade (DPIIT) as a private limited company, partnership firm, or limited liability partnership firm. They must also have an annual turnover of less than Rs 100 crore and must be working towards innovation, development or improvement of processes, products or services, or have a scalable business model with high employment generation potential.

Also Read: Budget Branding Advice Startup Owners Can Rely On

The proposal to extend the period for carrying forward losses aims to offer relief to startups and allow them to focus on growth. Additionally, the proposal to extend the date of incorporation for eligible startups for exemption will provide further incentives for startups and encourage budding entrepreneurs. The Finance Bill, 2023 also proposed to include non-resident investors in the provisions of section 56(2)(viib) of the Income-tax Act 1961, eliminating the possibility of tax avoidance. This amendment to the Angel Tax, which earlier taxed the issue of shares at a premium to resident investors, will now cover non-residents, with the exception of investment from SEBI-registered Alternative Investment Funds (AIFs), starting April 1, 2024.

Startup founders and industry experts have welcomed the measures proposed in the Budget as a major step towards supporting Small and Medium Enterprises (SMEs) and startups in India. The proposals aim to create more jobs, stimulate economic growth, and encourage innovation in the country. Investors and venture capitalists will also be incentivized to invest in startups, providing a much-needed boost to the startup ecosystem in India.

Also Read: Union Budget 2023-24 Slashes Financial Support for UPI Providers and Fintech Startups

In conclusion, the Union Budget 2023 is a positive step towards the growth and development of the startup ecosystem in India. The proposals to extend the date for income tax benefits, carry forward losses, and include non-resident investors, among others, are aimed at providing relief and encouraging entrepreneurship, innovation, and employment. The government’s focus on the startup ecosystem is a clear indication of its commitment to promoting entrepreneurship and driving economic growth in the country.

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