Mosaic (The X-Ecutive Vol. XVII)

ST.XAVIER’SCOLLEGE(AUTONOMOUS),KOLKATA XAVIER’SMANAGEMENTSOCIETY 1PA1G6E OLIYNMDRPEIAIACNDMWAERLDLEASALTBILSOITNUGSTASTKTHSAEHRIAMNADLIK Vol.XVII|2020-21 THEX-ECUTIVEVOL.XVII 76PAGE EXCLUSIVE INTERVIEW WITH SCAM 1992 STAR MOSAICPRATIK GANDHI APROFUSIONOFPARADIGMS 84PAGESPURECCCEEDSESN:TOR 82PAGE RANDOM? DECODING STOCK INCOVERSATION MARKETTRENDS WITH 30PAGE ISELONMUSK HOVHANNES OURNEW CREATOR? AYOVAN ANUNFILTEREDCONVERSATION FOUNDER WITHPARALYMPIAN &CEO, GOLDMEDALIST, PICSART KATRINAWEBB PAGE PAGE 120 123 EXCLUSIVEINTERVIEW WITHSOURAVGANGULY, CURRENTPRESIDENTOFBCCI ANDFORMERCAPTAINOFTHE INDIANCRICKETTEAM



ST.XAVIER’SCOLLEGE(AUTONOMOUS),KOLKATA DEPARTMENTOFMANAGEMENTSTUDIES Vol.XVII|2020-21 MOSAIC APROFUSIONOFPARADIGMS

118 152 CONTENTS 80 78 154 156 151 006 A Message From The Principal The Vice-Principal The Managing Editors 010 Student Editors' Note TABLE OF 013 Foreword

014 The Xavier's Management Society 051 Brand Resurrection- Breathing life back into dead brands The Editorial Committee The Board Tanushree Lahoti and Vedant Kabra The Working Committee Meet The Department 055 Evolving Niche Market of Cafe- A Case 017 Get to know the faculty and staff Study on the Mushrooming Cafes in members of the BMS Department Urban Kolkata Dr. Tridib Sengupta and Jumelia Sengupta 020 Meet The Board Decoding Social Media Up close with the board members of XMS 064 Marketing Manvi Agarwal and Riya Tulsyan 027 XMS Report 074 Featured Personalities A recap of the society's endeavours throughout the year 028 Matrix of Industrial Voyage 076 In Conversation with From steam engines to Al- a Pratik Gandhi complete overview of industrialisation Star of the SonyLiv series Scam 1992 Shepherd Of The 21st Century- 078 An Exclusive Interview with 030 Elon Musk Ritesh Sidhwani Is Elon Musk our new creator? Indian film producer and the co- founder of Excel Entertainment X-Innovation An Exclusive Interview with 032 Where imagination becomes 080 Lucky Ali reality Indian Singer, Songwriter and Actor 034 Atypical In Conversation with An array of unique and unconventional 082 Hovhannes Avoyan career opportunities that you can Co-founder and CEO of PicsArt explore and take up professionally 035 Education Policy Success : Precent or A glimpse of the recent changes 084 Random? in the educational policy and its Decoding Stock Market trends significance 036 Analysing Preferences of 086 Mergers and Acquisitions Generation Z Consumers A look at the significant mergers and acquisitions that took place during Dr. Supriyo Patra and the current financial year Jumelia Sengupta 045 The Carvaan Carnage 088 Financial Glissade Keshav Rateria and World's most devastating financial Abhishek Agarwala crises in the last 100 years

090 Financial Timeline 122 An Exclusive Interview with Major events that shaped the financial sphere of the year 2020 Katrina Webb Gold-medal-winning Australian Paralympic athlete 091 Beyond Bitcoin : The Obscure 124 Before Anyone Else World of Cryptocurrency A list of companies that introduced novel ideas 6 alternatives to Bitcoin you should know about 092 Did you not Know? 126 Social Entrepreneurship Check out some astounding corporate facts Lets look at the world from the eyes of successful changemakers 093 NFTs Are Making People Rich 128 Startup Culture - Is it the new Crypto Bubble? Shreya Raizada Inception and evolution of startups Why India Prefers Financing From 129 Domestication 099 Japan For Infrastructure Projects Instead Of Domestic Financing? Check out the recent trends and Aditya Bhaumik methods of marketing that are being widely used on social media platforms Financial Freedom or 132 AD Attack 103 Emotional Freedom? Navya Bahety Fancy some good ol' brand wars? 108 China's Tech Roadmap: Going 134 The Colour Code From Imitation to Innovation Kashish Khemka Ashana Shanghvi The Virtuality Of Airing Sport 136 Let Pockets Talk Equality Rishita Sethia 112 in a Bubble Devansh Agarwal 116 An Exclusive Interview with 140 Voice Turned Violence Sayantani Singha Sakshi Malik India's first female wrestler to secure an Olympic medal 118 In conversation with Vidisha 145 Insights into how Covid-19 impacted and caused shifts in the system of Baliyan the country and impacted the youth First Indian to be honoured with Prapti Kedia Miss Deaf World 2019 120 An Exclusive Interview with The Music Streaming Market: Sourav Ganguly 148 Growth and Future Abhay Ashok Kansal BCCI President and Former Indian Captain

151 In conversation with Raj Patel 164 COVID-19 Timeline A timeline of the COVID-19 British-Indian Journalist, award- pandemic winning author Lego- Turning It Around 152 An Exclusive Interview with 166 \"Block By Block\" Jeffrey Archer Unnati Patodia One of the world's bestselling Will The Sun Shine Brighter authors 169 Tomorrow? An Exclusive Interview with Kashish Khemka 154 Howard Berg From Zenith To Nadir? World’s fastest reader 172 A Peak Into Subway In conversation with Monika Vinayak Agarwal 156 Halan Consulting editor at Mint 158 Identity Crisis 177 Self-Reliant India Movement- Empowering People List of some unconventional TV Jayesh Premchandani series which yield highly applicable corporate lessons 160 Apps and websites 179 An Overview of Consumer Behaviour Tech that makes your life easier Towards Casual Dine Restaurants And Its Influencing Factors Soham Chakraborty 161 Podcasts 186 To The Batch of 2021 We guarantee its better than a Spotify ad 162 Social Dilemma 187 Yearbook Social Media = Humans = Products = Commercialisation? MOSAIC A PROFUSION OF PARADIGMS DISCLAIMER The copyright of the content in the publication is reserved by the Department of Management Studies of St. Xavier’s College (Autonomous), Kolkata. No part of this publication shall be republished, distributed or transmitted in any form without the prior permission of the publishers. The permission will only be considered valid if it is written form and signed by the required authority. While every effort has been made to ensure that all the information provided in this publication is accurate and reliable, any form of misinformation, errors or omissions is not the responsibility of the department or the contributor. The Editorial Board is not responsible for any views expressed by the published authors. The ideas and viewpoints expressed do not intend to offend anyone. Readers are encouraged to bring forward any material they find objectionable to the attention of the Editorial Committee. This work is distributed without profit and produced for educational purposes only. The X-Ecutive is a free-distribution publication and is NOT FOR SALE. For any feedback and suggestions, kindly write to us at: [email protected]

A message from FATHER PRINCIPAL “The present convergence of crises - in money, energy, education, health, water, soil, climate, politics, the environment, and more - is a birth crisis, expelling us from the old world into a new.” - Charles Eisenstein The world is reeling from a catastrophe. As we fight this …………… …………….seemingly unending battle against COVID-19, the world order …………………………has endured a wave of change in itself, a paradigm shift. At ……………………..St. Xavier’s College (Autonomous), Kolkata we strive to embrace the impending changes that occur in our internal and external environments. As a prestigious institution, we take it upon ourselves to encourage the unending pursuit of knowledge and growth. We believe in upholding the flame of learning even duArisnag spurcehsttirgyioinugs tiinmsteistuatniodnm, woteivtaatkinegitouurpsotnudoeunrtsseltvoeesxtcoelcarenadtibvreinlyg eonuctotuhreaigrebethste. Wuitnheanndienngorpmurosuusitseonfskenoofwfulelfdiglme eanntdangdrojwoyth, .wWe perbeseelinetvethien1u7pthhoelddiitniogntohfeTkhiendling X-fElacmuteivoef:lMeaorsnainicg-eAvePnrdoufursiniognsoufchPatrryaidniggmtism, etsheanadnnmuoatlivmaatignagzoinuer pstuubdliesnhtesdtobyextcheel aDnepeanrctomureangteomf MenDatena.panWagdriettbmhmeceaeonnnmtteSeontftouhMrdemiaebonseuasosgtfesvSmeetnr.essXneiotaonvSfiotefufurdt’lshfiieCelsmmooleslfneeSgltvteae. n(sXAdtauhvjtoriooyenur, o’gwsmheCoaopulrhlseeo)s,gleiKesntotilckthcauetra1r.7iTctuhleueXmdi-tEoiofcnuintocivfreethmiseeaXnnt- eExcturteimvee:lyMsouscaciecss-fuAl PenrodfeuasviornooffthPearEaddiitgomrias,l DtheepaarntnmueanltmofatghaeziXnaevpieurb’sliMshaendabgyemthenetDSeopcaierttym, ewnhticohf eMnacnouagraegmeesnsttuSdteundtisesfroofmSatc. rXosasvitehre’sglCoobleletgoeem(Abuatroknoomn oaunsi)n, sKaotilakbaltea.quTehset fXor-Ekcnuotwivleedigsea, nexepxlotrreamtioenly, psa“tsoPhtufneuaac“dddPctraeeapahgsnderoasadtigvfgsduaiemciglfgborebmeSognremihidcnSlilefhibcataaair'vc'nf.irtrolcr'Alor'eiy.sa.oiApsnnfTagcptthrehhaoai.eresndTaEisfdghgopdlimirogeistbcmyossieerfphaisieciathrfcolstieif.DfditeiIsciemnitspaiebtoaadhfnaruiferttunmoikwonfdneodaotnranhmoltmedfeoatneomfnhnftteaahbtiaglunemlacssXachzianhiagatnevaianaesinzgebsigdernlaee’eesinaniMqnddlsuteetahaehwcnesloesaitnetegwhxofxeomiiimstrtshthiteicikennsntn,ghtvgoaeeSppwrsorvryhleceeeiiddrdiefneytegtttytieeiene,n,rrrwptmemeesahxriitrinpneicanlesehodtdgdriiengacccnmgtooocinnnoocsddncuoieii,ngrttpanciiaotoegannnpeoldsssstf athmatehtaamveorbpeheonscisarwryhiinchg otankfeosr pyleaacres.inInththeeowpeorraldtioonf bsuosfiannesisndaunsdterycoannodmhicosw, aitschhifatnignepsatrhaedwigomrksiinggnsaolsf athmateitnadmuosrtpryhofosirsevwehr.ichWthaekneas plaarcaedignmthsehoifpteorcactuiorsn,sitofseatns tinhdeusstatrgye afonrdehnodwlesits cinhnaonvgaetsiotnhse, wa ohrukninggesr foofrtkhnatowinleddugsetraynfdoraenveurn. deWtehrernedasptraeraamdigomf imshpirfot voecmcuernst,sitinsethtse tehxeisstitnagefufnordaemndelnetsaslsinonf oavabtuiosinnse, sas mhuondgeel.r Tfohrisknthoewmleedgise tahnedvaenryupnrdeemteirsreedupsotnreawmhicohf itmheprwovoermldeonftsbuinsintheessexoipsetrinagtesfuannddamaednatpatlss oovfear wsbeounvuoeclsuicriglnedhsseutseseicsnvnclemeitsgphosheeditvreegielnoe.dpnTtseehhrroeiiafsogldttemishmneaoeemsfr.sateIlirmbiemsgeealat.ihsreIsdevbirevneeetgglhriaeytarhvtdpeistirnhtevhgemeartiitnhysetsiishimugevhppeiotornsnrystwiwiagmhnhhitpticcsochhrowtantahrchneeiectpghwctaoaaotnhrnrcleedderpgieotatdfwtabhtnohueudrsroleiidnutdegpwtshrhsoorutvoholipudidesgeprhmareotvatevehgsiriadsyazeonimnnedevaeaegwwrdayioaztouiphnnltdeaes fwreitshhapferressphecpteivrsepaemctiidvsetatmheidesxtisthteenetxiaisl tpeanntidaelmpoanniduemmothnaiutmhatsheant shuaesdeunpsounedusu.pon us. I extend my heartiest congratulations to the respected faculty members of the Department of Management Studies and the Editorial Committee for working so diligently to publish such an informative magazine despite the persisting situations. I would also like to give my highest praises to the members of the Xavier’s Management Society for their unwavering efforts to make this edition of the magazine an extremely successful one. The X-Ecutive will surely inspire and motivate the readers with the ocean of knowledge that it embodies which will bring about a positive change in their perceptions and perspectives. Today, a new paradigm is dawning upon us and only those who choose to embrace it will succeed in their endeavors.

A message from FATHER VICE-PRINCIPAL “The goal of education is not to increase the amount of knowledge but to create the possibilities for one to invent and discover, to create men who are capable of doing new things.” - Jean Piaget The Department of Management Studies at St. Xavier’s College has continued to surpass every milestone even in the hour of change. The relentless endeavors and undeterred passion of the faculty members and students have kept the department persistent on the path of growth, development, and transcendence. Even with the demanding times and challenges on the way, Xavier’s Management Society has brilliantly kept up with the pace of dynamicity while the world witnessed a paradigm shift. Every change in the clockwork of society brings out new opportunities to learn, grow and discover a world of boundless possibilities. These opportunities often lead to uncharted developments that contribute to the sea of knowledge. As the world navigated into a new direction, we steered along to continue delivering education, following the trail of erudition. Our students continued to move forward with the rekindled flame of education, upholding our 161-year-old principle “NIHIL ULTRA- Nothing Beyond” as the world ushered into the new normal. Greatest of innovations are bred in the darkest of hours to light the world ahead and Xavier’s Management Society endeavors to celebrate the opus of those innovators who strived to create an impact in the society which revolutionized the world. The X-Ecutive Vol.XVII, Mosaic- A Profusion of Paradigms; is an attempt by the Editorial Committee of Xavier's Management Society to coalesce facts and figures, big or small, from the deep corners of the revamped corporate industry. The theme, ‘paradigm shift’, seeks to encapsulate the undying zeal of a legion of individuals who have taken up the onus of driving the society towards new horizons. Traversing untrodden roads demands inconceivable patience, resolute determination, and consistent hard work. The Editorial Department has taken up the initiative to revisit the footsteps of such visionaries to present their story of bringing dreams to reality. A true compendium of facts, views, opinions and inferences, this edition aims to pilot thoughts towards edification. I would like to express my heartiest congratulations to the esteemed faculty members and the Editorial Committee for their persistent efforts for bringing The X-Ecutive Vol.XVII to reality despite the persisting situations. I would also like to extend my heartfelt appreciation to the members of the Xavier’s Management Society for etching a transcending mark with the new edition of the magazine. I truly believe that The X-Ecutive Vol. XVII will be successful in igniting a spirit of embracing change and shifting the perspective of readers to aspiring facets of life.

A message from the DR. SUKANYA SARKHEL “The blend of a positive attitude and a constant strive to give your best efforts, eventually leads you to overcome your immediate hurdles and helps you find enormous strength for greater challenges.” The ongoing COVID-19 health crisis has affected lives across the world and caused a massive economic shock. The situation in India is particularly dire, with a deadly second wave of infections sweeping across the country. The ongoing crisis together with the economic slump has had detrimental effects on the psychological health and, more than 65% of those aged 18-24 years in India suffer from depression. In this juncture the students of department of management studies with indomitable spirit have achieved two major milestones: first, they have been able to eke out thoughtful contributions even in this dire time of crisis and second, through this creative work they could minimise the risk of mental health issues among them. The theme that enhanced our glorious venture of faith and hard work was ‘Paradigm’- the existing epitome of business. A paradigm shift is a turning enlightenment of changes in the perception of how objects should be thought about and idealized on. The perpetual era of challenges and victories amidst the constraints of contributions, created a paradigm shift that realigned every system in every industrial sector, with altering historic proportions. The X-Ecutive 2021, thus embarks upon the discernment of the concept of ‘Paradigm'. The completion of the 17th volume of The X-Ecutive gives me an enthralling glory of pride to have witnessed the hard work of each member of the society, to not have just made perpetual contributions but to have also stood successfully, in the eye of the hurdle to emerge out victoriously. This version of our annual magazine we have featured articles written by students from different departments of our college. Students of editorial team interviewed personalities like like Jeffery Archer, Sakshi Malik, Sadguru, Sourav Ganguly, Vidisha Balyan, Katrina Webb and many other from varied field but the common thread being their personality and human quality which made an emerging impact on the life of every person associated with it. I congratulate the entire Editorial Committee of the Xavier’s Management Society with special mention of the Joint Editors Radhika Sharma, Somya Pasari, and Vishakha Agrawal, Sub editors Devansh Agarwal and Kalindi Khemka, to have surpassed the hurdles amidst the raging hours of struggle, to successfully deliver the best of the contributions to showcase the blend of talents and ideologies, through this magazine. The journey towards launching The X-Ecutive 2021 commenced with the blessings and guidance of Rev.Dr. Dominic Savio,S.J. Principal of St Xavier’s College (Autonomous),Kolkata, became memorable with good wishes from Rev. Fr. Peter Arockiam, S.J. Vice Principal, and went off smoothly with the cooperation and valuable inputs of Prof. Sougata Banerjee, Dean of our department and Dr Supriyo Patra, Deputy Managing Editor. I would like to thank all the professors of the department for their constant support and guidance. However, the extent to which it would be successful in achieving its desired goal would now depend on its readers. We look forward to comments and suggestions that would edify us and assist in bringing out a better version of The X-Ecutive in the Dr. Sukanya Sarkhel coming years. Enjoy your reading and all the best from Deputy President, our team that has worked relentlessly to put together this Xavier’s Management Society challenge. Managing Editor, The X-Ecutive

AAmmeessasagge efrformomthtehe MANAGING EDITOR DRDR. S. SUUPPRRIIYYOOPAPTARTARA S“ urvival of the fittest is ”the mantra of the game. Companies operating in the FMCG sector, Consumer Durable sector and even in the Service sector should give due importance to the Micro and Macro environmental factors and be willing to embrace change. In the world of business, a paradigm shift is often treated as a change in the perception of how things should be thought about and implemented. The 17th Edition of ‘The X-Ecutive’ focuses on the concept of ‘Paradigm’ and TEAM XMS kept up with the pace of dynamicity even amidst the COVID 19 pandemic. The journey from idea generation to implementation/commercialization of ‘The X-Ecutive’ was indeed a challenging one but became memorable with the blessings of Rev. Dr. Dominic Savio, S.J. Principal of our college and became incredible with good wishes from Rev. A. Peter Arockiam, S.J. Vice-Principal of BMS Department and became meaningful with the active guidance of Prof. Sougata Banerjee, Dean of BMS Department. Dr. Sukanya Sarkhel, the Professor-in–Charge of XMS acted as a true Guide with her vast experience to help us smoothly complete the journey from conceptualizing the magazine to its successful launch. The concept of ‘Paradigm' in relation to entities of the corporate world is eventually seeing the daylight due to excellent coordination by Vishakha, Somya and Radhika and dedication of the entire editorial team and good wishes from one and all. Dr. Supriyo Patra Deputy Vice-President, Xavier’s Management Society Managing Editor, The X-Ecutive

ORSTUDENTEDIT Theworld hasexperienced atrailblazing\"Shiftin Paradigm\"in thepastyear.Changehasbecomea round-the-clock marvelwhich hasinfluenced many in a constructive manner.A philosophicaland theoreticalframework is\"A Paradigm\"and the successive transition from one way ofthinking to another,arevolution,atransformation is\"A Shiftin Paradigm\".Itjustdoesnothappen,butratherit isdriven by agentsofchange.With ourabiding endeavor,we have tried to portray the \"Paradigm Shift\"in the'Mosaic'. In thefirstyear,Ihad minimalinterestin contentwritingand editing.Then I hadanunexpectedshiftinmywayofthinkinginsecondyearandIrecognizedtheopportunitiesallied withthismagazine.Thisshiftunfoldedthenew andextensivepossibilitieswhichledmetoapplyfor theDepartment. Inthepastoneyearwehaveexperiencedashiftintheentireprocessofwriting,editingandmanaging theX-EcutiveduetoCovid-19.Allthemeetings,interviewsand discussionswereonlineaswecould notmeetinperson.Ihavecomeacrossmanynew people,experiencedvariousdifferentsituationsand developed unique skills related to work.The major takeaway would be working with the other members of the Editorial Working Committee and manoeuvre the work online. The beautiful experienceofinterviewingrenownedpersonalitiesoverazoom callwouldberememberedthemost. Ihavelearntnumerousadroitnessthatwillhelp meto build astrongcharacterand to becomemore productive. AsajointeditorofX-Ecutive,Ihavehadtoadministertheediting,finalizethetheme,contentandthe selectionofpersonalitieswhoweretobeinterviewedforthe'Mosaic'.Conductingmeetingsonzoom toclinch thecontent,revisethesameand blue-pencilthesubmission madebyvariousauthors.The journey hasbeen a rollercoasterwhich turned issuesdue to Covid-19 into opportunitiesfornew learningsand innovation in operatingthework.Themain elation wasto beableto provideapulpit to unacknowledged writers,editorsand reporters.Iam verycontentthatwewereableto comeup withaplatform wherepeoplecanexhibittheirtalent. With our persistentendeavour and dedication,we have been able to enlighten the 'Mosaic'with interviewsofrenownedpersonalitiessuchasLuckyAli-AnIndiansinger,songwriterandactorwith many singlesand albums,Howard Berg -The HerchelSmith ProfessorofPhysicsand Professorof Molecularand CellularBiologyatHarvard Universityand Sadhguru -An Indian yogiand authorwho has earned a bachelor's degree in English from the University of Mysore,to name a few.The interviews,articlesandallthegraphicalcontentwerespecificallyselectedtoinfluencetheaudience totransform themselvesintoafinerbeing. IwouldliketothankRev.Fr.DominicSavioandRev.Fr.PeterArockiam fortheirunflinchingsupport in allour endeavours.Mosaic:The Profusion ofParadigms would nothave been possible without the guidance of Prof.Sougata Banerjee,Dean of the BMS Departmentand ourmanaging editors,Dr.Sukanya Sarkheland Dr.Supriyo Patra.Lastly,IwouldliketothanktheBoardandtheEditorialCommitteeof theXavier’sManagementSociety,withoutwhom thismagazinewould not havebeen possible.Itistheirhard work and zealthathasenlightened ourpathwayto success.Theyarethepillarupon which ourvision for thiseditionofTheX-Ecutivestandstoday. 10 STUDENT EDITOR THE X-ECUTIVE VOL.XVII

ORSTUDENTEDIT The world aswe see ittoday isthe manifestation ofground-breaking changesin every field.The initiative to stimulate this change and carry itforward with perseverance in the face ofvarious encumbrances,beitsocietaloreconomic,isencapsulatedintheveryessenceof‘A ShiftinParadigm’. Iam extremelyhappyto add,with greatsatisfaction,thatasTheX-Ecutivemovesforward with its variouseditions,itembodiestheveryspiritof‘Paradigm Shift’initsabilitytobringforthopinions andvariousideasfrom theyoungmindswhichhavebeeninstrumentalinshapingoursociety.Today, morelucidlythan everin thedigitalmosaicked world,theabstractismanifestingitselfin thedeep reflectionsofreality.Exploringthisveryphenomenon through thepagesofX-Ecutive,theXavier's ManagementSociety,aftersixteen gloriousyearsofexcellence,bringsforth theseventeenth chapter ofthe revered journal,seeking to recreate and redeem its honorable legacy and take itstrides further. Ourlivesmoveinpatterntowardsthings,andthingsthatweachievearefinallypartofthis‘Mosaic’. Ibelievethatwecreateourfate.I'vehad to contend with dilemmasastheEditorwhen itcameto agreeingon atheme,material,orthepersonalitieswewanted to interview.Thisjourneyhasbeen riddled with theuncertaintythathasturned into an opportunityto enhancemycapabilitieswhile continuouslytoilingtoproducethebestoutput,bystrugglingoverfinalizedmaterialtore-draftingit severaltimes,andspendinghoursproofreadingsubmissionsfrom variousauthors. TheX-EcutiveVol.XVII,Mosaic:A Profusion ofParadigmsstrivesto transcend to esotericlevelsby promisingitsreadersthechanceto engagethemselveswithin aplethoraoftopicsin each section. Withpiecesrangingfrom ‘FinancialFreedom orEmotionalFreedom’inthe“StudentArticle”section to ‘Success:PrecedentorRandom?’in the “Featured Article”section by the EditorialCommittee,a multitude ofareas have been discussed in succinct student-centric pieces portrayed in a wide demographic to enhance cognizance.An indispensable elementofthe journal-the “Interviews” section,everyyear,engulfsthereaderin theenthrallingworld ofmanyvenerableluminariesacross theglobe.WeareproudtopresenttheengaginginterviewsofMrs.SakshiMalik-Indianwrestlerand Olympicmedalist,SadhguruJaggiVasudev-IndianYogiandAuthor,Mr.SouravGanguly-FormerIndia CaptainandcurrentBCCIPresident,andMr.HovhannesAvoyan-FounderandCEO ofPicsArttoname afew.Theinterviewshavebeenframedmeticulously,withimmaculatelycraftedquestionsthatstrive toengrossourreaders. Lookingback,Ireverethemomentsofeffort,resilience,anddiligencethathavegoneintoshapingthe journalinitspresentform.W iththisinmind,IwouldliketoextendmysincerestgratitudetoRev.Dr. DominicSavio,S.J.Principal,forhisunconditionalsupportateverystep,andRevFr.PeterArockiam S.J.,VicePrincipal,Dept.ofB.Com Eveningand BMS.,forhisconstantencouragement.Ireservemy highestregard forSukanya SarkhelMa’am and Supriyo Patra Sir;fortheirpassion and zealousdedication are inspirationalforevery one ofus.Both ofthem are role-modelfiguresIcanonlyhopetoemulateoneday. AsIsignoff,Iwouldliketowholeheartedlyconveymygratitudetoallthe EditorialCommittee members for their valuable insights;it is their arduouscontributionthathasmadethemagazinewhatitistoday.Inthe end,whatmakesamagazinevaluableisnotthepaperit’sprinted on, but the thousands ofhours ofwork by dozens ofpeople who are dedicated to creating the bestpossible reading experience for the readers.Theirenthusiasm iscontagiousandthehighregardthatthey hold in thejournalmakesitstrivetosurpassnew milestonesevery year.Lastly,IhopethatIcontinuetoliveuptotheexpectationsofall STUDENT EDITOR THE X-ECUTIVE VOL.XVII thereaders. 11

ORSTUDENTEDIT Ihave alwaysfeltthatmovementleadsto the formation ofa mosaic.Everythingin an individual’s journeymovesinpatternstowardsdifferentthings;wegathertheimportantbits,glueitdowninone placeandgroutit.Thenwhatweseeisatilefloor,andnotjustanytilefloorbutamosaicofourown choosing,a representation ofourown journey.Similarly,thismagazine isa MOSAIC,thatnotonly encapsulatesaprofusion ofparadigm shifts,in thecorporateworld,butalso thejourneyofhow it tookshapeandisaresultofthehardworkofagroupofdedicatedindividuals. 2020wasayearofchange.Everythingthatwehadknownasnormalturnedupsidedown.TheCorona Virus Disease 2019 (COVID-19) paralyzed the economy,destroyed communities and confined the entireworldwithinthefourwallsoftheirhomes.Itcausedahugesetbackforthehumanracebutat thesametimeitmarkedacolossalshiftintheparadigm ofhow theworldworks.Withthisthoughtin mind,theX-EcutiveVOL.XVII,2020-21 voyaged into theexploration oftheconceptof‘Paradigm'in relationtoentitiesofthecorporateworld. The raisond'êtreofmyeditorialpursuitwastocreateastirringreadingexperiencebyconstellating elementsfrom diversehorizonsandpresentinganamalgamationofideas,perceptionsandnotionsas theparadigmsshift.X-ExecutiveVOL.XVIIintheform of“Mosaic-Aprofusionofparadigms”;islaced with factfularticleson a sundry ofintrusive topics,itincorporatesunfiltered conversationswith leadersacrosstheworldandtheincisivearticlescuratedbythescholarlystudentsofourinstitution. “Mosaic”attemptstoapprisethereaderson boundlesshorizonsthrivingon dynamism astheworld changesitscourse. W ith thismemoirofourteamwork,gifted bymyalmamater;IcarryallthelearningsthatIgarnered over these two years in the journey ofbeing both,a follower and a leader.The transition from traversingon thepath oflearning,to beingon thesteeringwheeltaughtmehow to stratagem and executealltheideasintoreality.Thereisanunexplainableexaltationinbringingtogetheragroupof diverse thinkersto brainstorm and poolin on discussionsto piece togetherthisjigsaw ofinputs, stringingitintoacoherentcreation. I would like to thank Rev.Dr.Dominic Savio S.J.principal,and Rev.Fr.Peter Arockiam,S.J.Vice Principal,DepartmentofB Com Evening and BMS for helping the magazine transcend to greater heights.We are gratefulto have received the opportunity ofworking under the guidance ofour managingeditors,Dr.SukanyaSarkhelandDr.SupriyoPatra.Myhighcommendationsalsogotoallthe professorsandauthorswhocontributedtheirinputsandliteraryworktoourmagazine. Myhighestregardsgoestoallthemembersoftheeditorialcommitteeandrespectivedesignerswho helpedinbringingameredrafttoapublishedreality.Lastly,Iwouldliketothankmy fellow Editorialheads,Somya Pasariand Radhika Sharma,and Sub-Editors, DevanshAgarwalandKalindiKhemkaforbeingsuchstrongpillarsofsupport. Itis never the destination butthe journey towards itthatcounts and I considermyselffortuitousforhavingtheopportunityto work with such stronglymotivatedanddrivenindividuals. IendmynoteinthehopethatX-EcutiveVOL.XVIIsucceedsinstatiating theexpectationsofallitsreaders,createsanimpactintheirparadigm ofviewsandbecomesapartoftheirfinalmosaic. 12 STUDENT EDITOR THE X-ECUTIVE VOL.XVII

FOREWORD 2020wasayearofchange.Everythingthatwehadknownas‘normal’completelychanged. Thepandemicparalyzedtheeconomy,destroyedcommunitiesandconfinedtheworldto thefourwallsoftheirhomes.Itledtoahugesetbackforthehumanraceandturnedthe entiremacrocosm upsidedown.Withthisrealityinmind,theEditorialCommitteeofThe Xavier'sManagementSocietybringsforththe17thVolumeofTheX-Ecutive,theannual departmentalmagazineofTheDepartmentofManagementStudies–“Mosaic:A Profusion ofParadigms''. ThiseditionofTheX-Ecutivevoyagesintothediscernmentoftheconceptof'Paradigm'in relationtoentitiesofthecorporateworld.'Paradigm'discussestheexistingepitomeof businesswhereasa‘Paradigm Shift'aimstocoverbusinessfieldsthatunderwentandthat willundergoafundamentalchangeintheirapproachorunderlyingassumption.Under thistheme,weaim tocoverideaslikehow abusinessstartedfrom scratchandturnedinto something large.Our goalis to assess how the business environment affects its functioning,itsrelevanceandimpactoftheconceptofchangeintheconcernedfield. Paradigm showcasesacompleterunofthebusinessworld,from itsexistencetoitsfuture prospects.It'satopicencompassingthenitty-grittiesofbusiness.Ithasabroadrangeof casesthatencircleallessentialsforalaymantounderstandtheoverallfunctioningofthe sector,topicsthatarecurrentlytrendingandrelevantforthefuture,sothatadetailed360 degreerunthroughaswellasabird'seyeview isprovided. ArticleswrittenbytheEditorialCommitteefocusonthethemetojuxtaposethesetheories withrealworld eventsand corporateentities.Studentand facultycontributionfurther elucidateon‘Mosaic’and 'A ProfusionofParadigms'expressingitsexistentfootprints through enlightening piecesin a myriad ofdomainssuch asEconomics,Marketing. Technology orEntertainmentto name a few.The highlightofthe magazine is the interviews of eminent personalities that present profound words from esteemed professionalsandaim toinspireindividualstopursuetheiraspirations.Furthermore,this Edition containsshortand informativefeatureswith theobjectiveofprovidinginsights intothecorporateworld and thediversefield ofmanagement;certain studentcentric piecesprovideessentialinformationtoyoungindividualsstartingafresh. The magazine hopesto impelindividualsto truly understand the massive impacta paradigm shifthasonthebusinessworld–whatithaslookedlikeovertheyears,whatit isnow andthepossiblechangesthatwilldeeplyinfluenceitinthefuture.Itwillhelpthe readerswidentheirhorizonofknowledgeabouttheeffectsofinternalandexternalfactors impacting abusiness:theneed forinnovation,theneed forimprovementin existing business models,the companies that brought change,the result of technological development,theimpactofclimatechange,andswitchinmindsets. Wearehonouredtohavetheopportunitytopublishthisissue.Weareinanticipationthat ourreadersfinditworthwhileandwishitissuccessfulinstirringinspiration! 13

THE EDITORIAL COMMITTEE CHAIRPERSON EDITORIAL COMMITTEE Rev. Dr. Dominic Savio, S.J. MEMBERS Principal Anshul Mahajan Atashi Dasgupta ADVISORY Kanishk Agarwal Rev. Fr. Peter Arockiam, S.J. Mahek Khemka Megha Tantiya Vice Principal Department of Management Studies, Navya Bahety Shruti Goel & Commerce (Evening) UG and PG Simran Juneja Prof. Sougata Banerjee Tanvee Singhania Vidushi Nahata Dean Department of Management Studies Yashraj Singh MANAGING EDITORS DESIGNING COMMITTEE Dr. Sukanya Sarkhel MEMBERS Dr. Supriyo Patra Manya Ahlani EDITORIAL HEADS Shruti Goel Radhika Sharma Somya Pasari Tanvee Singhania Vishakha Agrawal Anisha Saraf Isha Sheth SUB EDITORS Mansee Mohta Devansh Agarwal Nikita Baheti Kalindi Khemka Nishtha Goyal Rishita Sethia Shruti Jain 14

THE XMS BOARD PRESIDENT STUDENT MEMBERS Rev. Dr. Dominic Savio, S.J. Joint Secretaries - Ranat Saraf ADVISOR Zohaib Murad Rev. Fr. Peter Arockiam, S.J. Radhika Sharma DEPUTY PRESIDENT Editorial Heads - Somya Pasari Dr. Sukanya Sarkhel Vishakha Agrawal VICE - DEPUTY PRESIDENT Sub Editors - Devansh Agarwal Kalindi Khemka Dr. Supriyo Patra Finance Heads - Naman Jain FACULTY ADVISORS TO THE BOARD Vidushi Mundhra Prof. Sougata Banerjee Creative Heads - Devansh Agarwal Prof. Dibyendu Sen Yash Chowdhury Prof. Basuli Dasgupta Keshav Rateria Prof. Himadri Karmakar Prof. Rajashik Sen Marketing Heads - Mohit Agarwal Prof. Rajni Gupta Vishakha Jain Kalindi Khemka Public Relations Heads - Mahek Agarwal Nandini Jain Aadarsh Agarwal Planning Heads - Apoorv Bhura Vineet Shah Manvi Agarwal Operations Heads - Sourav Pasari Yogesh Agarwal 15

Anshul Mahajan Atashi Dasgupta Kanishk Agarwal Keshav Gupta Mahek Khemka Manya Ahalani Megha Tantiya Nandini Saraf Navya Bahety Pratyush Chitlangia Shruti Goel Simran Juneja Tanvee Singhania Vidushi Nahata Yashraj Singh 16

MEETTHEDEPARTMENT REV.DR.DOMINIC REV.FR.PETER PROF.SOUGATA DR.SUKANYA SAVIO,S.J. AROCKIAM,S.J. BANERJEE SARKHEL PRINCIPAL VICEPRINCIPAL DEAN ASSISTANTPROFESSOR DR.SUPRIYO PATRA PROF.DIBYENDU SEN PROF.BASULIDASGUPTA DR.HIMADRIKARMAKAR ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSISTANTPROFESSOR 17

PROF.RAJASHIK PROF.RAJNI PROF.JNANRANJAN PROF.KAUSHIK SEN GUPTA CHAKROBORTI GOSWAMI ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSOCIATEPROFESSOR ASSISTANTPROFESSOR DR.MAHUA PROF.MEENAKSHI PROF.OYNDRILA PROF.RASHTRAJIT BASU SUBRANIUM GANGULY SENGUPTA ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSISTANTPROFESSOR 18

PROF.RINITA DAS PROF.SHAUNAK ROY PROF.SHOUVIK SIRCAR PROF.SWARAJ PROF.SONALISAHA ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSISTANTPROFESSOR ASSISTANTPROFESSOR KUM AR NANDAN ASSISTANTPROFESSOR OFFICESTAFF MR. MR. MR. MR. ALOK EKKA DILIPDAS MANOJ SUBRATA KR. CHANDRA CHATTERJEE 19















The Xavier’s Management Society is an amalgamation of ideas, opportunities, and knowledge. It aspires to create value for those who associate with the society and provide a platform to gain meaningful experience and organizational skills. In the new academic year 2020-21, the society was determined to pursue greatness. The members of XMS welcomed the new batch of students with an event exclusively for the first years: X- Genesis’20: ‘Emanate and Uncharted Realm.’ It was the first-ever online simulation event to be conducted in the history of St. Xavier’s College (Autonomous), Kolkata. Featuring over 750 participating teams and 6 gruelling rounds, X-Genesis’20 was a tremendous success. The finale witnessed inspiring speaker sessions by Mr. Ashwani Lohani, former Chairman and Managing Director of Air India, Ms. Deepshika Anand, founder and managing partner of SpeakIn, Mr. Arjun Deshpande, Founder and CEO of Generic Aadhar and Mr. Rudra Chatterjee, Managing Director of Luxmi Tea. Following a spectacular commencement, the Xavier’s Management Society embarked upon its journey towards ‘X-Orate: Igniting the Leader in you’, which was a new addition to the event calendar with eminent personalities sharing their captivating stories and inspiring the students to follow their dreams unfazed by obstacles. The Xavier’s Management Society was honoured to have Mr. Suresh Narayanan, Chairman and Managing Director of Nestlé India, as the paramount speaker of this event. Following X-Orate, team XMS embarked towards X-Confero’21: Unshackle Inhibitions, a national level debating fest. This year, X-Confero witnessed the participation of 12 teams from all over the country who contested a series of intriguing debates, and two teams qualified for the final. This event concluded with Ms. Shaili Chopra, founder of SheThePeople.TV, Mr. Vineet Nayar, founder chairman of Sampark Foundation, and Mr. Santosh Desai, MD and CEO of Future Brand Ltd. as the speakers in an engaging discussion with the students. With a team of 80 members and a plethora of ideas in mind, XMS began preparations for its flagship event- The Xavier’s Management Convention’21: ‘Ascension: A Cosmic Crusade’ - an international level management fest. The three- day event witnessed exclusive speaker sessions everyday. On the first day, the Xavier’s Management Society hosted Mr. Rajat Sharma, the Chairman and Editor-in-Chief of India TV and the host of the longest-running TV show \"Aap Ki Adalat\" and Mr. Hector Garcia and Mr. Francesc Miralles, authors of the international bestseller novel, Ikigai The second day witnessed speaker sessions with Ms. Anupria Goenka, a renowned Indian actress; Mr. Karan Kumar, Chief Marketing Officer of DLF Ltd. and Ms. Vandana Chamaria, head of Business Marketing at Google. The convention ended with Mr. Naveen Jindal, Chairman of Jindal Steel and Power Limited; Mr. Aman Gupta, Co-founder and Chief Marketing Officer at BoAt and Mr. Sumit Sawhney, the Vice President of Africa Middle East India and Pacific Region at Renault as the speakers. The year 2020 has been tough for everyone. The looming pandemic made it almost impossible for the Xaviers Management Society to function. However, it was important to remember that challenges have always hampered progress, but staying on the right track is crucial. Even in these trying times, the XMS family’s indomitable spirit could not be stifled and the society rose to unprecedented heights. The smooth execution of the events is a result of the collective efforts of all the members. At XMS, we place the foremost emphasis on diligently pursuing every endeavour and inculcating a team spirit to support each other at every step of the journey. We live by the motto of exploring various facets of this diverse universe, meeting a community of motivated individuals, and forming an eternal bond with these individuals. We owe our success to the unwavering support of Father Principal, Rev. Dr. Dominic Savio, S.J., the President of the Xavier’s Management Society; Rev Fr. Peter Arockiam, S.J., and Professor Sougata Banerjee, our advisors; Dr. Sukanya Sarkhel, our Professor-in-Charge; Dr. Supriyo Patra, our Assistant Professor-in-Charge and Professor Dibyendu Sen, Professor Rajni Gupta, Professor Rajashik Sen, Professor Basuli Dasgupta and Professor Himadri Karmakar, our faculty advisors. Compiled by : ZOHAIB MURAD AND RANAT SARAF Ranat Saraf and Zohaib Murad Joint Secretaries, 27 Xaviers Management Society.

















ANALYSING PREFERENCES OF GENERATION Z CONSUMERS TOWARDS COLAS IN KOLKATA Introduction AUTHOR DETAILS The Coke & Pepsi Duopoly in The Indian Market: Dr. Supriyo Patra Perceiving a shift of consumer preferences, from carbonated Professor-in-charge of to non-carbonated drinks, both Coke and Pepsi are planning Management, to expand, in the non-aerated soft drink product line. Both Department of B.M.S. are also contemplating launching Lemon-flavored Colas, but St. Xavier’s College given their portfolio of Sports drinks, Mineral Water, Fruit (Autonomous), Kolkata drinks etc., they have not launched it yet. These two rivals have expanded their brand range over the past two decades, AUTHOR DETAILS diverting from traditional soft drinks to packaged waters, sports and energy drinks, fruit pulp drinks and such Jumelia Sengupta others. In fact, Coca Cola plans to change the ratio of soft drinks: other beverages from 95:5 to 80:20. B.M.S. 3rd Year Brand Warfare rages in the Oligopolistic soft drink market St. Xavier’s College in the Indian subcontinent with the two duopolists engaging (Autonomous), Kolkata in competitive event engagements, Celebrity Endorsements, Advertisements Campaigns (both Out of the House and Television Commercials) besides the traditional Print Media, involving Newspapers, Hoardings, Electronically Lighted Panels. When we think of rivalry as a war sport, we're just having a snapshot that ignores customers entirely. When Coke cuts its prices, it attracts buyers from its competitor. When PepsiCo hires Michael Jackson for an ad campaign, it does the same. When the market adopts the same policy of lower rates or public spending, it is a zero-sum or negative-sum game for the companies. Objectives of the study • To determine the sources of awareness of the cola brands for Generation Z consumers • To analyze the Consumption Patterns of Cola for Generation Z consumers • To map out the predominance of choice between Coca Cola and Pepsi Cola amongst the consumers of Generation Z (age group 18-28).

Overview of Related Work Krishna (in 1994), in his study on “The effect of deal knowledge on consumer purchase behavior,” stated that presumed that soft drink's buyer purchase behavior can be affected not just by the present cost of a soda item, yet additionally by what costs they expect later on. Dhandhapani (in 1997), in his research on “A study on the acceptance of Fountain Pepsi in Madurai City,” cited that uncovered that Pepsi utilization was 69.23 per cent in the instance of 150 example respondents, and Coca-Cola showcase was just 13.46 per cent and pounds up was just 10.36 per cent. Blattberg, et al. (in 1976, 1978), in his study based on “Dimensions of buying behavior such as brand loyalty, private brand proneness and deal proneness,” revealed and described 16 purchasing strategy segments based on three purchase dimensions “brand loyalty (single brand, single brand shifting, many brands), type of brand preferred (national, both national and private label), and price sensitivity (purchase at regular price, purchase at deal price).” Research Methodology Before commencing the analysis, a thorough examination on the subject was conducted in order to gain a better understanding of the future plan of action and how to execute the study. The next step was to figure out the problem of the case. The dilemma was then fully understood and recast in meaningful terms from an empirical standpoint. This is the most crucial phase in the entire study. The research instrument used in this study was a Structured Questionnaire. A five-point Likert scale along with dichotomous questions as well as ranks were used in order to analyze the responses. In this study, Simple Random Sampling, under Probabilistic Sampling has been considered in order to minimize the researcher’s biases and interpret more authentic results. The sample size was determined the by using variance or proportion, but due to time constraints, the questionnaire had been sent to 150 potential respondents, out of which, 131 responded (the valid response rate being 100%). Then, the questionnaire was sent to a targeted population of pre-teens and post-teens, students (school, colleges, B-Schools, coaching centers, young professionals. In our study, the data was collected for a period of 5 days. A cross-sectional research design involving different groups of people from different socioeconomic aspects was considered in order to get a vast range of varied responses. The study is based on both primary data, collected by circulation the Questionnaire and secondary data collected from previous researches which have been taken from the papers published on ShodhGanga, papers on The Pepsi Youth Challenge etc. A convenience sampling, which is a method of Non-Probability sampling was chosen to reach the most accessible members. Further, graphical analysis of statistical data was done and represented by using pie charts and bar graphs. Further, a hypothesis was defined and the inference was drawn by applying the chi-square test. The study was further validated by using a Blind Taste Study.

Data Analysis and Findings Illustration 1 Gender: The male respondents were Illustration 2 higher than that of the female Illustration 3 respondents. In the study, we see that the Illustration 4 choice and preference patterns of liking Colas depend on the Age of the consumers. Age: 88% of the respondents belong to the Age Group of 18-21 thereby strengthening the main premise of the study on concentrating on the generation Z consumers for Cola consumption. Occupation: 95.3% of the respondents are students, once again emphasizing the fact that the study is based on the members of Generation Z. Professionals, (including Teachers, Public and Private Sector employees) and Self-Earning, form the balance of 4.5%. This shows that students, who even though do not have any earnings, still remain to be the chief consumers of Soft Drinks. Level of Awareness: The level of Awareness of the two most popular Cola giants, Coca Cola and Pepsi Cola is highest amongst the respondents. It is also seen on the contrary, that they are indifferent about the other local players like RC Cola, D’Cola.

Source of Awareness: Research shows that Media is the biggest source of Awareness for the majority for both Coca Cola as well as Pepsi Cola, and for a few other local players as well, even though by a smaller margin. However, the important source of awareness for RC Cola emerges to be the Peer groups of the respondents. Illustration 5 Illustration 6 Brand Recognition: Respondents recognize Ranbir Kapoor as the most influential brand ambassador for PepsiCo, even though Salman Khan is taking up the mantle recently. For Coke, brand recognition is still the highest in Ranbir Kapoor, the Endorser. Even though Salam Khan has recently switched to PepsiCo, his recognition as the Brand Ambassador still remains the topmost for Thumbs Up, closely followed by its new Brand Ambassador, Ranveer Singh (endorsers for the brands have changed recently which haven’t been taken into account). Frequency of drinking: Research shows that 1/4th of the population drinks their brand of Cola “very often” and approx. the other 1/4th “Often”. The rest half of the sample comprises two segments, the majority who “rarely” drink Cola and a small portion of the above group “almost never” drink Cola. Illustration 7

Illustration 8 Preferred pack size: The influence of Illustration 9 pack sizes on the consumption patterns of Gen Z is depicted. More than 41% prefer a small size of the PET bottle (Rs.20 pack). 20% of the respondents approximately prefer Cans (priced at Rs.40) because of the appeal. 16.4% of the Population prefer Glass bottles (Rs. 12 for 200 ml, Rs 15 for 300 ml) probably because of the pocket-friendly price. 10.2% and 11.7% of the Population prefer PET bottle Offer packs and PET bottle Family packs respectively. Impact of Advertisements: Advertisements have a moderate effect on the max of the respondents (35.11%), more than a moderate effect on 24.42% and max effect on the other 11.45%. 14.5% of the respondents are less impacted by advertisements and the balance 14.5% have no effect of advertisements on them when they buy their preferred Cola brand. Choice of Cola: Coca Cola emerges as the numero uno of the Gen Z respondents (48.4%), followed by Thumbs Up at 28.1% which incidentally is a brand that belongs to the Coca Cola family itself. Pepsi Cola comes in third at 18%. RC Cola and the other small players are at an insignificant at 5.5% Illustration 10

Illustration 11 Factors affecting the choice: The taste of the brand emerges as the prime mover amongst the factors determining the choice of brand for Cola. It is followed by Fizz in order of importance. Another moderately important factor is the Packaging of the drink. Impact of the Influencer rates as “Neutral” in making brand choices. For most of the respondents, offer for the pack, Family drinking habits and Brand image are “somewhat important” factors in making purchase decisions. Illustration 12 Customer Loyalty: On the parameter of Customer Loyalty, most of the The Taste Challenge respondents, are most likely to be indifferent (29%), followed by those who are likely to recommend the brand to their friends/family (25.20%). Around 18.3% of the respondents will highly recommend the brand at all times. 16% are not likely to recommend and 11.45% are most unlikely to recommend the Cola brand to their friends/family. Illustration 13 Product Repositioning Source- The Pepsi Youth Challenge)

A Blind Taste Test is often used as a tool to compare one particular brand to another brand. Inspired by the Pepsi Challenge, which is a famous taste test and has been run by Pepsi since 1975, a similar test was performed where 10 respondents were blindfolded and were asked to taste the two drinks (Coke and Pepsi), and then select the drink that they preferred the most. This was done to map out their perception of the two brands. The scope of biasness of the respondents was done away with. Results of the Experiment: 7 out of the 10 respondents chose Cup 1 (containing Coke) over Cup 2 (containing Pepsi). When asked the reason for their response, a majority said that the drink in Cup 1 tasted better than the one in Cup 2 (containing Pepsi). Testing of Hypotheses A Chi-Square test was performed in the following categorical variables. H0: There is no significant relationship between the categorical variables. H1: There exists a significant relationship between the categorical variables. Male Cans Glass bottles PET family PET offer PET Small Total Female 13 8 9 6 26 62 Total 13 13 6 7 26 65 26 21 15 13 52 127 The data is presented in the form of a frequency table. We have omitted the entry from gender – “Other” due to scarce entries, leading to discrepancies in the analysis. We perform a chi-square test of independence for the following hypothesis. H01: There is no relation between choice of pack size and gender of the respondents. Pearson's Chi-squared test X-squared = 1.7975, df = 4, p-value = 0.7729 We can see that we have a test statistic of 1.7975 with a level of significance of 5% at 4 degrees of freedom and a p-value of 0.7729. Hence, we accept the Null hypothesis and conclude that there is no relation between choice of pack size and gender of the respondents. Male Coca Cola Thumbs Up Pepsi Cola Others Total Female 36 11 13 2 62 25 25 10 5 65 Total 61 36 23 7 127 The data is presented in the form of a frequency table. We have omitted the entry from gender – “Other” due to scarce entries, leading to discrepancies in the analysis. We perform a chi-square test of independence for the following hypothesis.

H02: There is no relationship between cola choices and Gender of the respondents. Pearson's Chi-squared test X-squared = 9.0392, df = 3, p-value = 0.02877 We can see that we have a test statistic of 9.0392 with a level of significance of 5% at 3 degrees of freedom and a p-value of 0.02877. Hence, we reject the Null hypothesis and conclude that there is a relationship between cola choices and Gender of the respondents. Conclusion Coca-Cola is the quintessential global brand not only because of its product features and its brand knowledge it has created worldwide and hence rates high on the taste segment. However, Pepsi Cola depends more on marketing gimmicks like brand endorsements, catchy advertisement campaigns, sports sponsorship. With high TOMA (Top of Mind Awareness) and high visibility on the shelf of the shops/outlets/retail chains, Pepsi is giving head-on competition to Coke and the other local players. Coke and Pepsi have created a Duopoly in the market with their dominant performance in the soft drink segment and have positioned the Cola drinks in the minds of the Indian Youth with adrenaline and adventure with taglines like “Live it Abhi” and “Ummeedon waali dhoop, sunshine waali asha!” Recommendations • The Cola Companies should focus on the taste of the product because the majority of the population is influenced by taste only, as the study reveals. • The younger generation being the most potential customers of Colas, the Cola Companies should concentrate more on this segment. • As we find that the majority of the population, prefer small pet bottles (250ml) priced at Rs.20, the company may do away with the costly logistics of glass bottles (small-200ml, big-300ml), and divert these resources to the small pet bottle segment. • Also recommended that small pet bottle prices be reduced to Rs.15 by Coca Cola and Pepsi Cola, since their closest rival, RC Cola, has flooded the bottom of the pyramid market with Rs.15 (250ml) pocket-friendly pet bottles. However, Coke has started to market its pet bottles at Rs.15 in Maharashtra recently. • Since only 46% of the population is impacted by advertisements and TV Commercials is found to be the most effective, the Cola players may channelize the resources of other media by focusing extensively on the young energy of Generation Z. • In order to widen their market segment, Coke and Pepsi can emphasize more on CSR activities, effective rural marketing strategies, poverty alleviation and employment generation programs.

Limitations of The Study • Error such as Population Specification error, Sampling error, Non-response error might have been committed inadvertently. • Due to time and resource constraints, the sample size has been limited to 131 respondents, which might be too small to find out the actual consumer perception of this stature, in a mega polis like Kolkata. • Many of the capable resources remain untapped. • The scope and implementation of data collection method may be limited as experience in primary data collection techniques is limited. • The respondents might have been biased towards a particular product, hence the answers provided by them might not be completely authentic. (For this limiting factor, a Blind Taste Study was performed.) Scope of Further Research • The information provided in the research work might be utilized the researcher scholars who are conducting a study, say, on the ancillary industries whose operations are based on the Soft Drink Industry. • Groups/association of members who might explore upon the aforesaid topic and continue the research further in depth. • Corporate Organizations might utilize the outcomes to further their potential benefit- Coke and Pepsi, also the other local new players might use the findings and recommendations in the project to their advantage. • Branding Professionals and other soft drink manufacturers may also benefit from the study. References • \"Beyond Seltzer Water: The Kashering of Coca Cola\", American Jewish Historical Society (2007-02-26) • Mark Pendergrast (2000). For God, Country & CocaCola Basic Books • Pepsi Youth Challenge (2011) • Shodh Ganga (June 2009) • The Chronicle of Coca-Cola (November 2011) • The History of Pepsi-Cola\"(2011) sodamuseum.bigstep.com paragraph

THE CARVAAN CARNAGE The Carvaan has established itself as a stupendous product AUTHOR DETAILS of Saregama India, and its success story will remain etched in the RPG group’s memoirs in golden words. The Saregama Abhishek Agarwala Carvaan was a product that focused on the needs of the elder B.Com. (Morning) segment of the population and defied the trend of digitization 3rd Year by thriving in the physical space. The music player that was St. Xavier’s College initially brought out to be used by the elder generation, went (Autonomous), Kolkata on to become so popular that even the youth did not shy away from taking a buy decision for it. In this article, we take a glance at the strategies and models adopted by Saregama India to make Carvaan such a good hit in the market. The company was overwhelmed by the response it got from the market, which exceeded everyone’s expectations. Transforming an offline music library to a simple device to be cherished by the public was a very significant step forward for the company. The article shows how a company, focused on its goal, can refute all existing myths of the market by making a product that facilitates the use of technology effectively, by keeping it easy for everyone to use. Backdrop AUTHOR DETAILS Music has traditionally been regarded as a critical tool for Keshav Rateria relieving stress, dating back to aboriginal times. Musicians have a rich history, from their appearance in king's courts to B.M.S. their presence at community gatherings. Music was once 3rd Year labelled a hobby by most people because it was not as St. Xavier’s College omnipresent as it is now. Musicians' performances, no matter (Autonomous), Kolkata how successful, would be limited to the region in which they were performed. As a result, the performers began to travel to various cities and villages to increase their fame. Fortunately, technologies improved over time and led to increased comfort. The development of digital distribution methods for music was a major step forward, allowing music to cross physical borders. Music is now considered an art form in the western world because of this. It is not only an art but also one of the most prestigious forms of entertainment in the world. After being sold physically in the form of cassettes, compact disks, DVDs, pen drives and so many more, music has finally reached the stage where it can be shared with a few clicks of

the finger. It has indeed covered a remarkable journey so far. Technology has been the driving force behind this expansion. However, as technology advances, the number of individuals who are unable to grasp it, increases. Let us take the case of smartphones as a reference. Accepted that the mobile makes a lot of sense for young and middle- aged males and females, but most of the elderly community were unable to overcome their reservations about using it. This creates a consumer niche that wishes to maximize the utility of a commodity but is unable to do so due to personal reservations. This was the sector to which Saregama Carvaan was accessible. Mobile phones have made a significant contribution to the dissemination of music, and the fact that the elderly community was unable to access them offered an incentive that the RPS group could not let go of. The Saregama Carvaan is a modern portable music player that comes pre-loaded with over 5000 tracks. Most of these songs are retro in origin, ensuring that their core audience is pleased. The music player can also be used as an amplifier since it supports Bluetooth, USB, and aux cables. These features drew the attention of the public, as they made the product usable for everyone in the family. To put it differently, it is a modernised digital amplifier that allows a person to listen to endless and commercial-free music throughout different eras and genres. As a result, the Carvaan was depicted as a product that every household could have. Is it able to have an impression on the marketplace, then? The sales figures say they could not be better. Illustration 1: Source - MediaNama Major Elements With the launch of Carvaan, Saregama entered previously unknown waters. This domain had no strong competition, which made it both comfortable and demanding. Saregama could create a brand value for its product owing to its first-mover advantage. Carvaan was able to establish itself as a separate body. The organisation recognised that the idea and the product it had created was not concentrated on individuals aged 45 to 50 and not for the people below that. This clarification was crucial when it came to strategizing and marketing campaigns. They were able to attract popularity by focusing only on the 1/3 of the population they perceived to be the main market, rather than the other two-thirds. The Why, How, and What business model was implemented by the firm. They inquired as to why there was a need to approac

approach the market, how they could improve it in a friendly direction that added value to the consumers, and what strategy they could use. The need to enter the sector persists owing to a scarcity of basic devices to listen to retro music on. And if they had a mobile, the elderly did not know how to use it, and no one was there to teach them. As a result, there was a need for a compact, easy-to-use interface. To address this issue, the business wanted to develop a solution that could address the issue of complexity, a device that was easy to use and could be operated even by the elderly. For this, they created a radio-designed device that was identical to the old- fashioned radio, a gadget that the older generation was still familiar with. Since determining the why and how, the key issue at hand was execution. Saregama recognised that its product would only be appealing to consumers if it could evoke excitement in them. Initially, when they were primarily focused on the elderly, they would run commercials focusing on retro songs performed on the Carvaan. As the product gained attention, these ads played a significant role in the company's success. More specifically, the product's layout pushed the audience to overcome their suspicions because they could apply it to their own experiences. These factors contributed to Saregama Carvaan's popularity, but Saregama used several other gimmicks to boost product sales to where they are today. They had to include the X- factor, or it would be impossible to achieve sustainability by only following a few business practices. How Did They Do It? Saregama Carvaan’s story lies in a two-folded page. The first aspect is the observation - the rising gap between the older generation of the society and their interaction with their slow-paced, evergreen taste in music and their failure to adapt to the rise of technology and online music services. On research they concluded that all the elderly wanted was the comfort of their times when they were served their favourite music endlessly without any hassle or breaks on just the press of a button. The second and the less weighted part was the sense of discomfort among the employees and the management of Saregama due to the rise of the tech-based music industry, and the subsequent fall of sale of their products. Much like the photography giant, Saregama was also hit by the growing popularity of the digital medium. Though it had rich reserves in the form of rights to 120,000 songs in 14 different languages from which it was earning dividends, the company’s revenues were stagnant, and the lack of new content pinched. Hence, the release of Carvaan was a big step forward for the company to rise out of its slump and they aspired to leave no stone unturned to make the project a success. Every product needs to add some value to its customers if they choose to buy it. Saregama Carvaan, when released, forced many critics to stay pessimistic about its growth. Looking at Saregama’s Carvaan, their scepticism arose as to why a renowned music producer would think of launching a product that is possibly nearly a decade behind the time in terms of technology. Their idea was that the product has a tiny target audience and that too, might be uninterested due to the primitive design and above-average price. As it turns out, the design induced nostalgia in the elderly population who found it like a radio’s design. Moreover, the device offered comfort to those people by giving them an alternative to music on mobile phones, which they found

found difficult to access. These factors encouraged the elder generation to throng Saregama stores and get a device for themselves to relive their days of the past. Saregama on its part rolled out impressive marketing campaigns to connect with their market. The product campaigns emphasised the emotional family bonds that bring joy to the elderly recipients when they accept Carvaan as a present from their children. The Womb, the agency behind the initial campaigns and marketing communication projects was indeed applauded by industry experts for its effective storytelling and nostalgic components involved in its journey to market and position Saregama Carvaan as a gesture to say #thankyou with #theperfectgift after making the people understand #kyahaiisme inviting them to choose between #shoryasangeet. (all these hashtags are the headlines of the campaigns launched). The thing unique to these advertisements was that they were incredibly personal, and, in a way, they were able to penetrate the hearts of the audience. This was because a story was narrated in all these advertisements. The effect of stories can be seen in three ways: they can be recalled, they can be convincing, and they can increase social contact. Storytelling advertisement, also known as narrative advertising, is a marketing and communication technique that has been widely recognised by academics and analysts over the years for its effective and influential methods of market change and branding. These models of advertisement also helped Carvaan to gain breath-taking word of mouth publicity, which furthered their growth. Hence, Saregama Carvaan was able to thrive in the market driven by effective advertising campaigns and a massive sales figure. All in all, the USP of the product is its design and the simplicity that the pre-downloaded songs have on offer. Saregama understood its market complexity and gave it a convenient solution that the market could not neglect. The Way Forward After the success of Saregama Carvaan, the company was in no mood to go stagnant and leave it in cruise control. It noticed that some of its audience was not able to purchase the product due to the high price. It went back to the study table again and chalked out a cheaper variant of Carvaan in the name of Saregama Carvaan Mini, priced even more aggressively. Moreover, different prints on the Carvaan Mini appeal to different age groups. Apart from the Carvaan Mini, it has also come up with the Carvaan Go, a phone shaped device featuring similar simplicity. Carvaan Wi-Fi and Earphones have also hit the market with enthusiasm. This means the company is more confident and has given up all its reservations about the eligibility criteria of the product. It is now coming onto the market with full gusto. Moreover, the carnage that it has wreaked upon the market has scared away its competitors, which find the Carvaan brand too well established to now establish a separate brand image. This is one of the significances of moving first. The company is now also focussing on investing in new film music. Yoodlee Films, a subsidiary of Saregama is now also focussing on providing content to leading OTT platforms, which are also gaining rapid traction. The success of Carvaan has lit the future of the company.