Prof. S Ramesh Kumar’s book ‘Consumer Behaviour: The Indian Context (Concepts and Cases)’ published

Prof.-Ramesh-Kumar

Prof. S Ramesh Kumar

A revised version of his earlier work, the new book reflects rapid changes in the Indian and global markets, and the valuable feedback received from subject matter experts, students and working professionals engaged in the discipline

02 August, 2017, Bengaluru: A book titled, ‘Consumer Behaviour: The Indian Context (Concepts and Cases)’, authored by Dr. S Ramesh Kumar, Professor in the Marketing area at IIM Bangalore, has been published recently, by Pearson Education. This is a revised version of his earlier book titled, ‘Consumer Behaviour and Branding: Concepts, Readings and Cases – The Indian Context’, which needed updating given the developments in the realm of digitization, cultural scenario and in consumer decision-making witnessed in the last two or three years.

About the book: The text in the revised book has been holistically updated to reflect rapid changes in the Indian and global markets, and the valuable feedback received from subject matter experts, students and working professionals engaged in the discipline.

The updated book draws special attention to:

    • New examples to reflect changing lifestyles and consumer decisions

    • Extensive discussion on digitalization and consumer behavior

    • Strong conceptual base that stimulates the thought process of the readers

    • Specific applications to illustrate the practical usefulness of concepts

    • Indian cases that have been drawn from real-life brands

    • Attractive visuals of brands to illustrate the concepts discussed

About the author: Prof. S Ramesh Kumar, who is also IIMB Chair of Excellence, has a mix of industrial and teaching/research experience of over 30 years. His areas of interest are exploring the application of marketing/consumer behavior concepts to the Indian context. His specific research interests include Branding-Consumer Behavior Interface, Cultural Dimensions in Marketing, and Consumer Behavior-Digital Marketing Interface. He has also adapted the 11th edition of Consumer Behavior by Leon Schiffman and Joseph Wisenblit. He has published articles and case studies in reputed journals (national and international), business magazines and business newspapers. His international publications include papers in refereed journals of repute, which are known both for their academic rigor and practice orientation.

He teaches in the postgraduate, executive management, and research fellow programmes. He has developed courses at the postgraduate and doctoral levels. He has also co-authored and published several real-life cases associated with reputed organizations in the Indian context.

He was awarded the ICFAI Best Teacher Award by the Association for Indian Management Schools (AIMS).

Prof. Ramesh Kumar has presented papers in many international conferences. He has been an invited speaker and visiting scholar in universities abroad and has delivered special lectures on marketing in the Indian context. He has conducted a number of training programmes for corporate executives in Indian and multinational organizations.

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NSRCEL at IIMB hosts workshop for educators

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As part of its Customer Connect initiative, N. S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the start-up incubator of IIM Bangalore, organized a workshop on ‘Inspiring Educators in Digital Age’ on July 26, 2017.

It was a collaborative effort by NSRCEL and ‘Mantra for Change’ -– a social venture focused on school transformation. The workshop format was interactive with brainstorming sessions and ideating discussions with 28 educators and school leaders from schools across Bangalore and Mysore.

The assembly line, the break bell, the homework and the favourite teacher… how often do we really miss those carefree days of school? Almost every day – given the stressful adult lives today! For all the positives in the school as a workplace and teaching being a noble profession, the job requires immense motivation.

Career growth, inspiration, gratification and respect for teachers were discussed at the workshop. Some actionable ideas surfaced, as a result of all the brainstorming. These included:

Skill mapping of teachers, and opportunities for them to attend skill enhancement workshops

Adopting ‘Teacher of the Month’ and similar initiatives to recognize and reward the effort of teachers

Creating a more inclusive environment for their career growth and progression

Participants and organizers alike left the room noticeably energized and enthused with the idea of implementing some of the ideas that were discussed during the workshop. NSRCEL will continue to support these educators and start-ups making a positive impact in the education sector.

Going forward, NSRCEL aims to take up more initiatives to help women entrepreneurs connect with the innovation ecosystem and markets, and build networks for successful growth of enterprises. Stay tuned for more Connect stories.

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CUTTING-EDGE RESEARCH BY FACULTY OF IIM BANGALORE

Faculty members at IIM Bangalore generate knowledge through cutting-edge research in all functional areas of management that would benefit public and private sector companies, and government and society in general. The knowledge generated by IIMB faculty appears in leading academic journals with high citation index and impact factor. Many textbooks and working papers are written on a regular basis. Research carried out by IIMB is used to augment new courses and executive education programmes.

Journal of Economic Theory

Vol. 158, Part A, July 2015, pp. 232-258

Paper Title: Dynamic choice in a complex world

Abstract

We consider an environment in which a Decision Maker (DM) finds it sufficiently complex to even describe the state space, let alone guess the parameters of the underlying data generating process. He is therefore unable to use the standard Bayesian methods. Instead, at each moment in time, the DM constructs a preference relation on the set of available actions based on their past performance. We postulate a set of axioms on this family of preference relations indexed by histories (of rewards). Two key conditions, a typical dium; Exchangeability axiom and another labeled Consistency, that constraints the DM not to update her preferences after certain events (loosely based the “the principle of insufficient reason”), characterize thumb rules for ranking actions that are akin to the familiar fictitious play in game theory. Moreover, if in fact the stochastic process that generates the rewards is exchangeable, a DM that obeys our axioms (almost surely) cannot be distinguished in the long run from one that is fully cognizant of the environment and satisfies the expected utility hypothesis. The main result requires proving a representation result on multisets which may be of independent interest.

Journal of Economic Theory

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Written by,

Murali Agastya, Indian Institute of Management Bangalore.

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CUTTING-EDGE RESEARCH BY FACULTY OF IIM BANGALORE

Faculty members at IIM Bangalore generate knowledge through cutting-edge research in all functional areas of management that would benefit public and private sector companies, and government and society in general. The knowledge generated by IIMB faculty appears in leading academic journals with high citation index and impact factor. Many textbooks and working papers are written on a regular basis. Research carried out by IIMB is used to augment new courses and executive education programmes.

Management Science

Vol. 61, No. 11, February 2015, pp. 2720-2738

Paper Title: An Interproduct Competition Model Incorporating Branding Hierarchy and Product Similarities Using Store-Level Data

Abstract

We develop and implement a Bayesian semiparametric model of demand under interproduct competition that enables us to assess the respective contributions of brand-SKU (stock keeping unit) hierarchy and interproduct similarity to explaining and predicting demand. To incorporate brand-SKU hierarchy effects, we use Bayesian hierarchical clustering inherent in a nested Dirichlet process to simultaneously partition brands, and SKUs conditional on brands, into groups of “similarity clusters.” We examine cluster memberships and postprocess the Markov chain Monte Carlo output to infer cluster properties by accounting for parameter uncertainty. Our proposed approach lends to a spatial competition interpretation in latent attribute space and helps uncover the extent to which competition across SKUs in the latent attribute space is local or global. In a related vein, we discuss the implications of well-defined groups of similar SKUs as subcategory or submarket boundaries in latent attribute space. We empirically test our model using aggregate beer category sales data from a midsize U.S. retail chain. We find that branding hierarchy effects dominate those from product similarity. We find that the model partitions the 15 brands in the data into 4 brand clusters and the 96 SKUs into 25 SKU clusters conditional on brand cluster membership. In estimating a set of models of spatial interproduct competition, we find that SKU competition is more local than global in that only subsets of products compete within groups of comparable products. Finally, we discuss the substantive implications of our results.

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Management ScienceQR

Written by,

Pulak Ghosh, Decision Sciences and Information Systems, Indian Institute of Management Bangalore

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CUTTING-EDGE RESEARCH BY FACULTY OF IIM BANGALORE

Faculty members at IIM Bangalore generate knowledge through cutting-edge research in all functional areas of management that would benefit public and private sector companies, and government and society in general. The knowledge generated by IIMB faculty appears in leading academic journals with high citation index and impact factor. Many textbooks and working papers are written on a regular basis. Research carried out by IIMB is used to augment new courses and executive education programmes.

Journal of the Royal Statistical Society: Series A

Paper Title: Bayesian estimation of long-term health consequences for obese and normal-weight elderly people.

Abstract

Obesity is a rapidly growing public health problem even among the elderly. Understanding the disabling consequences of obesity in the elderly will help us to design better effective intervention management guidelines for the elderly obese. To examine the long-term health consequences of the obese elderly, we present a joint model consisting of two bivariate ordered responses observed at successive time points. The bivariate ordered response model corresponds to the subject’s self-reporting health status outcomes including self-rated health and functional status. Although the joint model that we propose is generally suited for use in health and disease research, where the ordered value responses are observed at successive time points, we further extend it by addressing some of the challenges by incorporating the semiparametric features in the ordinal logistic model, by modelling the underlying latent states of health that are associated with self-rated health, by jointly modelling the bivariate ordinal out-comes to mitigate the variability of the single response and by accounting for the non-ignorable missing data due to different reasons through a multinomial logit model. The motivating data were obtained from the Second Longitudinal Study of Aging, which are longitudinal survey data from 1994–2000 providing various useful information on the health status of elderly people. Parameter estimation of our joint model was performed in a Bayesian framework via Markov chain Monte Carlo methods. Analytical results demonstrate the difference in longitudinal pat- terns of the health outcomes between the two weight groups, validating our hypothesis that different management strategies for the obese elderly should be employed.

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Journal of the Royal Statistical Society

Written by

Pulak Ghosh, Decision Sciences and Information Systems, Indian Institute of Management Bangalore

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Top 3 reasons why MOOCs should play a role in the classroom

The past decade has seen MOOC emerge as a buzzword – much has been discussed about the hype around it, its efficacy, revenue model, academic rigour and so on. But, is MOOC an emerging technology? Hasn’t distance learning been around for a while? How is a MOOC different from erstwhile distance learning? Is it just old wine in a new bottle? What we need to understand is that MOOC is different; it is a pedagogically powerful tool and is structured to mimic the classroom learning as much as possible. In fact, MOOCs can be seen as a means to improve faculty effectiveness and to augment the learning experience in the classroom.

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Professor PD Jose, Professor Ashok Thampy and Professor Subhashish Gupta of IIM Bangalore conducting sessions on Blended MOOCs at the Faculty Development Programme at Chandigarh University.

  1. Reskill and Re-invent Yourself as a 21st Century Teacher: As faculty, why should we talk about MOOCs and why are they relevant? Globalization and technology like MOOCs have removed geographical borders between academicians and students – a student from Chandigarh University, India can learn from a European school; an IIMB teacher can teach learners in Africa and so on. The way forward for an academician to stay relevant is to orchestrate classroom learning experiences by bringing together knowledge from global teachers and take students from global information to contextual insights. Students have access to learning at their finger-tips and therefore, faculty are also faced with the challenge of constantly reskilling and re-inventing themselves.

  2. Understand the 21st Century Digitally Native Learner: If we look at it from the point of view of the learner, the social contract between the student and the teacher has changed; students’ expectations of teachers have also increased. Today’s students are far more digitally savvy and can multi-task, i.e. learn through videos while socially interacting online and being part of a classroom all at once. How do you evolve your classroom to cater to the changing learning and education needs of this 21st century learner? Here are some ways-

  • Understand how and why students learn to help you make informed decisions about curriculum and pedagogy.

  • Shift from ‘passive’ to ‘experimental’ pedagogy to make classroom learning active and application-oriented.

  • Adopt social and peer-to-peer learning methodologies to be where your student is.

  1. Prepare students for the new-age industry requirements: Technology is constantly evolving and jobs are changing rapidly. If you look at the top 20 jobs of 2030 (as per a report by WEF) you will see that you are trying to train students to prepare for jobs – more than 80% of which are new and unheard of today. Can you afford to ‘not change the way you teach?’

Today’s education is moving to a trend of ‘unbundling’ – content, curriculum, faculty and credentials. Today’s faculty and educational institutions should equip themselves to take the best content, blend it into the curriculum, learn from the best global faculty and give credentials that industry will recognize. By adopting the best of digital learning in the traditional classroom, blended MOOCs can become a ‘tradigital’ tool to evolve education to keep pace with learner and industry needs.

The IIMBx MOOCs Programme conducts Faculty Development Programmes on ‘Blending MOOCs in the Classroom’ to open up minds to asking the right questions on MOOCs and to foster adoption of MOOCs into traditional classroom teaching. For more details, visit https://www.iimbx.edu.in/

Note: This post is written to capture key insights shared by PD Jose, Professor of Startegy, and Chairperson – Digital Learning, IIMB, at a Faculty Development Programme conducted at Chandigarh University on 10th July 2017.

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CUTTING-EDGE RESEARCH BY FACULTY OF IIM BANGALORE

Faculty members at IIM Bangalore generate knowledge through cutting-edge research in all functional areas of management that would benefit public and private sector companies, and government and society in general. The knowledge generated by IIMB faculty appears in leading academic journals with high citation index and impact factor. Many textbooks and working papers are written on a regular basis. Research carried out by IIMB is used to augment new courses and executive education programmes.

The International Journal of Human Resource Management

Volume 26, 2015 – Issue 9

Paper Title: Talent management activities of disability training and placement agencies in India.

Abstract

This study seeks to outline activities of training and placement agencies in India aimed at employment of persons with a disability. We contend that persons with a disability are an underutilized human resource and that utilizing their abilities should be a key part of an inclusive approach to talent management. As there is little empirical research on this subject, our approach is exploratory and we seek to create a platform for further studies. A key finding of the study is the preference of agencies to engage in non-traditional and ad hoc approaches to build and showcase underutilized talent of those with a disability. Based on present findings and the contextual approach to talent management, a more comprehensive agenda for future research areas in inclusive talent management is outlined.

International Journal of Human Resource Management

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Written by,

Mukta Kulkarni, Indian Institute of Management Bangalore

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