MAM
Over three decades, marketing has seen a paradigm shift
MUMBAI: On a long trip, the mode of travel may encompass an assortment including air, train, road, boat. Even within these legs, the experience could differ significantly, for example driving on a mountain road, versus regular old ride through the city.
Similarly, a marketer’s journey over the last three decades has seen multiple metamorphoses, entailing a continuous need for change and adaptation.
Those were the days, when planning media spends was a simple matter of allocating monies between Ramayana, Hindi feature films, and Chitrahaar on DD, with the option of throwing in Krishi Darshan for the adventurous rural marketer. The satellite TV boom, bringing in hundreds of channels and programmes, added complexity to media planning, and forced marketers to slice and dice the communication target group in terms of multiple demographic parameters. “Focused communication” really took shape in the nineties.
And then the internet explosion, along with the advent of smartphones, dramatically changed the rules of the game. Digital marketing and social media are the buzzwords now. Engaging the viewer is paramount. Communication can now be targeted at a specific age group, even at a micro level of a city. Youth today interact with the world through their devices. TV viewing and print media are almost skipping this generation. Even a few years ago, advertising on live sports telecasts was a sure-fire way of reaching the youth. Today, even that is transitioning to the Hotstar and Cricbuzz of the world.
This is having a significant impact on consumer buying behaviour, and the purchase decision-making process. The erstwhile classical marketing’s five step process – spanning problem identification, information search, evaluation of alternatives, purchase decision and post-purchase behaviour – is passé. The three Moments of Truth (MOT) theory has been flipped on its head.
As per traditional theory, the first MOT is when the consumer interacts with the brand for the first time, say, on a supermarket shelf, and decides to pick up a brand, over others. The second MOT is when she experiences the brand, which may be once (for example, in a restaurant), or maybe multiple times (like a shampoo). A few proceed to the third MOT, and become advocates (positive) or critics (negative), based on their individual experiences. This journey has now been collapsed to what is termed the Zero Moment of Truth (ZMOT). Thanks to the explosion in internet usage, every new brand or product is now researched, where consumers are vicariously exposed to the entire journey at one shot, through others’ experiences. Managing social media is critical now. For example, while evaluating options to buy a car, if one comes across half a dozen negative comments about a specific brand, it is very likely that this brand will drop out of one’s consideration set.
A few decades ago, there was allegedly a thumb rule across the world – that a happy consumer will tell five others, while a dissatisfied consumer will crib to 21 people. Today these numbers have magnified manifold, and are probably in thousands, if not millions, thanks to the power of viral posts in social media.
30 years ago, fashion and lifestyle trends in the western world would take their own sweet time, maybe two to three years, to catch on in India. Today all brands need to keep pace with global innovations, since consumers are constantly exposed to these. Discerning powers of consumers, thanks to the plethora of information available, have taken quantum leaps. Earlier, ‘value-for-money’ was the key for mass marketing. Today’s informed consumer is willing to pay for value-added features, leading to the ‘money-for-value’ concept.
Changes, and the necessity to adapt to these, will be keeping marketers on their toes. From print/radio/cinema, to TV (single channel to hundreds), to the internet with its multiple social media platforms, to live streaming and OTT – the milestones and the route map keeps evolving. It’s perhaps foolhardy to even attempt to predict what’s coming next.
(The author is Navneet Youva stationery division chief strategy officer. The opinions expressed here are his own and Indiantelevision.com may not subscribe to them.)
If you are actively investing to grow your money month after month, you already understand the value of planning ahead. SIPs, long-term portfolios, retirement planning and goal-based investing all point to one thing. You are building a future with intent.
What often gets missed in this process is one foundational question. How well is the income that funds all these plans protected?
Term life insurance fits naturally into this stage of financial planning. It does not compete with investments. It supports them by protecting the income that makes long-term growth possible.
Why Income Protection Is a Core Part of Financial Planning
Every financial plan begins with income. Before money is invested or saved, it is earned.
Over time, this income is allocated across multiple needs:
● monthly household expenses
● EMIs and long-term loans
● savings and emergency funds
● investments aimed at future goals
As responsibilities increase, financial planning becomes layered. Each layer assumes income continuity. Term life insurance exists to ensure that this structure does not become fragile due to overdependence on a single income source.
It adds stability to plans already in motion rather than introducing a new objective.
What does term life insurance do?
Term life insurance provides a fixed payout to your nominee if you pass away during the policy term. The purpose of this payout is practical and clearly defined.
It is intended to:
● replace lost income for a defined period
● help manage outstanding liabilities
● support ongoing household and goal-based expenses
There is no investment or savings component. This keeps the product focused and cost-efficient, allowing individuals to opt for meaningful coverage without diverting funds meant for growth-oriented investments.
Why Term Life Insurance Complements Investing?
Investments and insurance play different roles in a financial plan.
Investments are designed to:
● grow wealth over time
● compound with consistency
● be adjusted as goals and risk appetite change
Term life insurance is designed to:
● provide financial continuity
● protect existing plans from disruption
● remain stable once put in place
Keeping these roles separate improves clarity. Investments are allowed to perform without being forced to double up as protection, while insurance quietly supports the overall structure.
Who Should Consider Term Life Insurance?
Term life insurance becomes relevant when financial planning extends beyond individual needs. This typically includes:
a) Working professionals
When income supports shared expenses or long-term plans, protection becomes essential.
b) Individuals with long-term liabilities
Home loans, education loans and other EMIs often extend over decades. Term insurance ensures these obligations remain manageable.
c) Parents planning future milestones
Education, healthcare and lifestyle goals require continuity over many years.
d) Early planners with rising incomes
Starting earlier allows coverage to align smoothly with career progression and evolving responsibilities.
How Much Coverage Should Be Considered?
Coverage should be guided by financial reality rather than affordability alone.
A well-rounded evaluation typically considers:
● number of years income needs to be replaced
● existing and future liabilities
● long-term goals already planned
● inflation and rising living costs
Many insurance companies offer options starting from 50 lakhs, 1 crore term insurance and higher. It allows individuals to choose coverage based on their income, liabilities and future plans.
How Term Life Insurance Fits Into a Long-Term Plan
Once set up, term life insurance does not demand frequent attention.
It does not require active monitoring, market tracking or performance reviews. Its role is structural rather than dynamic.
By ensuring financial continuity, it allows families to:
● stay aligned with long-term plans
● avoid rushed financial decisions
● focus on execution rather than damage control
When aligned correctly, term insurance strengthens the foundation on which investments, savings and retirement plans are built.
Choose the Right Insurance Partner
Once the need, coverage amount and role of term life insurance are clear, the final and most important step is choosing the right partner.
This decision should be based on:
● clarity and transparency in policy terms
● a strong claim settlement track record
● consistency in servicing and communication
● the ability to support long-term financial planning rather than just selling a product
Term life insurance is a long-term commitment. The partner you choose today will be the one your family relies on years down the line.
When protection is aligned with purpose and backed by a dependable insurer, term life insurance becomes a quiet but powerful part of a well-built financial plan.
