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Convergence Between New
Media
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Convergence between new media (mobile
and Internet) and old media (TV, Print and Radio) will give rise to new
business models for customer acquisition, retention and monetization. The Online Advertising Industry
concerns buying and selling advertising space that is accessed by viewers
through the Internet.
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The portion of advertising that is done through new
media (it is any media like Special audiovisual effects of any kind,
Larger than 17 inch displays, streaming and streaming audio,3-D and
virtual reality environments and effects, Highly interactive user
interfaces (possibly including mere hypertext or not), Mobile presentation
and computing capabilities, Any kind of communication requiring
high-bandwidth CD and DVD media, Telephone and digital data integration,
Online communities, Micro devices with programming, Live Internet
broadcasting as on the MBone, Person-to-person visual communication (as in
CU-SeeMe),One-to-many visual communication) is expected to increase
significantly over time as web-based content and services expand and
people are able to access the web through more devices such as mobile
telephones and televisions.
Everyone knows that India has a large population. This large population
offers huge opportunities in different demographic segments. One of such
attractive segment is the youth or teenage population one knows that India
has a large population. This large population offers huge opportunities in
different demographic segments. The teenagers in India pose an immense
market potential for a whole lot of products: Fashion accessories,
Fast foods, books, education, clothes, music, and electronics, Sports,
entertainment.
India is home to the largest population of
teenagers anywhere in the world. India has about 115.3 Million teenagers.
This number even surpasses the number of teenagers in the US, Canada, UK,
France, Germany Japan. Youth forms the major chunk to the growing Internet
user base in India.
Youth are already having an enormous impact:
on the economy, on companies hoping to sell them products, on the media,
and on the culture.
Some 47% of India's current 1 billion
population is under the age of 20, and teenagers among them number about
160 million. Already, they wield $2.8 billion worth of discretionary
income, and their families spend an additional $3.7 billion on them every
year. These youth will demand a more cosmopolitan society that is a
full-fledged member of the global economy. The teenage population, some 22
million belong to the urban middle class and are in a position to
influence the economy dramatically as they grow older. Many young people
are having their first taste of rising prosperity and expectations.
spending power of about $6.5 billion--their own discretionary income plus
what their families spend on them--they carry considerable economic clout,
as well as the power to influence their parents' purchasing decisions on
items ranging from computers and cars to watches and TVs. Indian teens
alone buy nearly 60% of the fizzy drinks, chocolates, and jeans sold in
India. Every company is planning its future growth looking at the youth
market,
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Market Potential
Old-line Indian family-owned companies are also increasingly catering to
the youth market. Few early investors are already reaping the
benefits of this huge teenage population Levi’s, Addidas, Nike, MTV,
Disney Mc Donald, Pizza Hut to name a few. The market is still wide open
for others to enter and capitalize on the potential. The year 2007 has
been declared as the ‘Broadband year’ by Indian government. Various
initiatives are been undertaken to increase PC and Internet penetration. |
The Local Marketer
Thus new media advertising is the solution
for the local merchants, retailers & brands especially belonging to
smaller towns who have always struggled with the expensive forms of
advertising and promotions. Consumers are now faced with many avenues to
shop from - there are many outlets stocking the same product – each
offering different value propositions & offers. So how does the consumer
then get hold of the best possible deal – that’s where new media comes in.
The shoppers will no longer have to spend too
much time in searching for the right deals and will be able to save a lot
of time by utilizing new media devices. The primary service will be online
query or SMS-based deal search service.
According to a mobile advertising company
the consumer has to send a query to the SMS code 6767777 for getting
the deals. For example, if a consumer living in Lucknow East is thinking
of buying Shoes, all he has to do is SMS “Deal Shoes Lucknow E” to 6767777
and he would get a list of 3-4 “top deals” in the category of ‘Shoes’ from
‘Lucknow East.’ The new media advertising is suited for all marketing
budgets and is contextual, as only relevant consumers get the advertising
messages. It ensure minimal wastage of their marketing budget as the
brand/retailer is charged only when a consumer sees their advertisement.
That’s not possible in any other medium. Also it is seen that there have been 30%-35%
conversion, which is significantly higher than any other medium. The
mobile Ad market is expected to be over USD 11 billion globally in 5 years
and India will own a significant share of it because of the sheer number
of mobile phones (over 400 million by 2011) in the country.
Convergence Between New Media - continued
Contributed By : ERAM
HASAN is an M.A
mass communication and journalism from Alagappa University 2008, Bachelors
in Arts from Lucknow University in 2002. P.G. diploma in Advertising and
Marketing from Amity School Of Communication, Noida. Working for 4 ½ years
as Lecturer for Advertising, brand, Event Management with Amity School of
Communication lko.
eramq@rediffmail.com
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