Satyam Marketing

Lalit Modi, today is a very famous name all over the world , every body knows him as a former IPL chief or a business man but I think that Lalit Modi is actually a synonym for Marketing.

Here I am presenting some points in favor of Lalit Modi so that Management students and general public can understand the extraordinary abilities of Lalit Modi in the marketing sector. Modi, his last name, starts with “M”, and also with “M” starts the word Marketing. Co-incidence? May be!! But it is Modi’s Marketing skills that have taken IPL to a level that no one could have ever imagined, except Modi himself of course!

A product is the key part of marketing. Marketing says that product must have quality good enough to be adopted by customer, product should be unique in its features, and product must have a brand image. Lalit Modi took the 20-20 cricket format which was slowly getting popular and created an attractive product Indian Premier League (IPL) out of it. No sooner did the product IPL hit the market, it stormed the country and the world. While the franchises got all sold immediately, the entire nation and the world got in front of televisions or rushed to the stadiums to watch the matches. It got so popular that there was no looking back and seasons 2 & 3 followed within short periods.

Packaging is considered the most important part in Marketing in this modern world. Marketing says, a product should be attractive in looks, its packaging should be attractive, bright and unique. Same goes for IPL, the brainchild of Lalit Modi. , The concept in IPL itself is very attractive, and with each season the packaging has turned up more attractive, unique and lovable. Cheers girls , Brand name, Logo , Mono , Dresses and so many other things were introduced to improve the packaging.

Pricing is another important aspect in Marketing of a product. A lot have been said and written about high prices at which various franchises were sold. It actually does not matter that how much price a product is sold for when the customer is ready to pay that amount and is happy with the product. Did any franchisee complain about the prices they got the franchises for? or the viewers complained about the price of the tickets they paid to watch the matches in stadium or multiplex theatres? Lalit Modi set the most appropriate prices that not only made no impact to customer demands but also earned a high profit for the organizers.

Selling is an important part of marketing. Marketing can not be a success until products easily sell off at the counters. Marketing of a product can not be a success until customer demand the product. Short selling is crucial part of marketing. Lalit Modi‘s selling style is undoubtedly unique and marvelous and has proved himself as a marketing guru with IPL. Franchisees automatically rush to the IPL, and so did the audience and public who were keen to see the IPL. No part of the stadium was vacant till the end of tournament which proves the splendid selling style of Lalit Modi.

Advertising is vital part of marketing. We can not imagine about marketing without advertising. No advertising media remained untouched to IPL be it the television, newspapers, Internet,,buses, trains, word-of-mouth and more. The advertises motivated the public to watch the matches at the stadiums. On the other hand television channels ran their own ads to inspire people to watch at home with convenience. Multiplexes attracted the movie viewers to come and watch the matches on the big screen. All succeeded in their efforts and made the IPL a huge success.

These were a few points on Lalit Modi and Marketing. Overall we can say that Lalit Modi is a complete man of Marketing.