Session Notes A 24/08/05

[Aditya Sanyal]

Today's session started with a question pertaining to a topic covered previously: Regulations, and the role of a regulator.

The class started off by discussing whether regulations were good or bad in today's times. The critical thing to check is whether your system is stronger or weaker, when regulations are present. Continuing with the example of Linux, we saw that it did not take any regulation as such to come to the position it is, today. We also saw that although regulation has existed for a long time, we have had people who defy it. Earlier, we have had law breakers to contend with in the offline world, and nowadays we have hackers to deal with online.

 

When institutions make strategies by taking regulations for granted, they will discover that the strategies will come to naught when they are exposed to an unregulated environment. For example, we have seen that Microsoft has created its operating system "Windows" and has a selling strategy which assumes that

there will be regulations which will protect it from activities like piracy. But, when it comes to countries like India, there is absolutely no regulation to protect it from piracy, and the strategy falls flat on its face.

 

Continuing with the topic of regulations, we now took the example of the music industry. Specifically in India, we see that when CDs are priced at a high premium, people will not have any problems buying pirated CDs which are available at a cheaper quality, whether or not there are regulations to prevent such a possibility. To prove that the average Indian will not mind paying for goods provided that they are available at a reasonable price, it was pointed out that CDs of  "Aartis" (devotional songs) for Lord Ganesh were sold in high volumes in the state of Maharashtra. These CDs were priced at Rs. 30.  Thus, in India, it makes good business sense to make technology affordable. Taking this idea further, we saw that in today's global market, there is an incentive for better service. Also, in certain cases, in online business, it is a good strategy to lower prices. But, this point was debated by some students.

 

First movers:

 

In the early days of industrialization, it was ideal to be the first mover, as that was the only way to learn the market dynamics and also put in sufficient entry barriers to make the life of the imitators difficult. But, in the days of online businesses, it is not advisable to be the first mover.

 

Conversation with Consumers:

 

When one is a small operator in the industry, it is very easy to talk with your customers and get their feedback. But, as you become bigger, you don't get time to interact and get feedback from your customers. Also, you start having middlemen and then it is generally difficult for you to keep in touch with your customers. To remain in touch with your customers, you employ some experts to do your job for you. But, since there are so many links in this chain of communication, noise is bound to creep in. Thus, information obtained may well have errors. The customer is not allowed to speak his mind, rather, he is supposed to react to questionnaires.

 

In today's environment of the internet economy, the customer does not have time to fill long forms online. But some badly designed sites still exist that do exactly that. Well designed sites do not do this, rather, they extract different information in every transaction with the customer.Thus, the best way to have information about customers is by gradual accumulation of facts, rather than a traditional questionnaire style data filling exercise.

 

When there are suggestions made by customers, companies do not respond or react unless there is a large enough number of similar inputs from other people. So, earlier, one can assume that companies usually never had to reach to criticisms or suggestions. But in today's world, due to the power of the internet, aggrieved people can find friends online pretty fast who will support their claims. So, companies are forced to acknowledge most complaints these days. 

 

Regards

Aditya Sanyal

Div A

13054

[Kapil]

Nice Notes Adi !! 

Was reading these old group mails !! Good fun :) :) I don't know if the mail will go to many. 

[Priyanshu Gaurav]

Yes it reached.

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[Sumit agarwal]

I got it

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[Yatish Goyal]

Great..First movers !!

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[Meeta Sardesai]

Got the email! Hope all of are doing well people! 

Yo Adi !

Warm Regards, 

Meeta Sardesai

On Wed, 1 Aug 2018, 1:00 pm Kapil, <kapi...@gmail.com> wrote:

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[Kapil Nema]

Wao !! 

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[Ullas Pandey]

Got it

Wao !! 

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[Raj Pareek]

got it Adi!

Regards,

Raj

Got it

Wao !! 

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[Aditya Sanyal]

LOL this is good. Hello guys!

[Aarohi Shah]

Wow. Nostalgic moment! Calls for a reunion soon!

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[Meghna Garg]

Got the email. Good one!

[vishal wadhwa]

Got the mail....any idea why the group was named sineib....sine seems awkward...

[Rohit Lalwani]

It was the name of our subject 'Strategy in Net Economy' Prof. Prithviraj Ghorpade

[vishal wadhwa]

Ok...Got it...u even remember the complete name...Commendable..

[Arijit Sengupta]

Good old days!

Best Regards

Arijit Sengupta

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[jayesh pinge]

Got it Adi, 

Hope all are doing well

Regards

Jayesh

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[Meeta Sardesai]

Kapil, look what one email from you started! :-D

[Kapil Nema]

I am wondering if i should into my yahoo account and check out mails pre admissions into SIIB !! The crazy group chats pre joining !!!

Guys - i hope all of u r part of the whatsapp group 

if not, please send me the phone no. and will add you. 

Thanks. 

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[Meeta Sardesai]

I am not.. So add me plzzzzzz.. 9860029832.

Thanks tons! 

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[jayesh pinge]

Kapil add me 9611310150

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[Abhishek DEB]

Meeta, it’s done. 

[Abhishek DEB]

Jayesh, it’s done. 

[Meeta Sardesai]

Thanks Deb n Kapil! 

[jayesh pinge]

Thanks Deb, Kapil

[ekta kaul]

Got the mail. Thanks 

Sent from my iPhone