January 15 (The Pioneer): The Marketing Association of XLRI, popularly known as MAXI, is set to organise its annual MAXI Fair on January 15. Started in 1979, the MAXI Fair is a unique and innovative approach to conduct market research in a fun format.
Officials of MAXI informed that this year, several companies are taking part in the MAXI Fair. While some wants to understand consumer behavior and preferences their categories others plan to understand the tastes of the consumers.
The idea was conceptualised 31 years ago, much ahead of its time, by Sharad Sarin, Professor of Marketing at XLRI and a visionary. Year after year since then, major Indian corporate houses bring their market research problems to the students of XLRI, who design elaborate games around them.
These games are hosted in the XLRI grounds, and are open to public who visit the fair and have a good time apart from winning prizes. The students, on the other hand, get useful data about public preferences, which they then analyse to solve the problems faced by the companies. This makes the task of conducting the otherwise boring and mundane research easier and interesting.
“This year we planning to make it more academic oriented than fun and fair. We have made special arrangements for the event this year where the students will carry research work,” said a member of the organising team.
It may be mentioned that Brooke Bond tasted success to the tune of `100 crore with the idea of newly packaged tea. Pepsi in 2006 decided to give a new design to its packaging. ITC decided to venture into the biscuit market. These are some of the few success stories of brands which were once just ideas of XLRI students.