Author(s): Manpreet Kaur Bhatia, Amrita Rajput, Amrita Baid More, Shweta Pandit, and Aniket Sane
This study explores the impact of experiential marketing as a tool to change consumer behaviour in the fast-moving Indian context. This report examines how companies in different areas, like hospitality, retail, airlines, and healthcare, have adopted experiential marketing to retain customers and increase their market share. The study, however, points out that experiential marketing is crucial in targeting Market Generations who are highly motivated to interact with brands. The paper examines these trends by seeking a closer understanding of how businesses embrace experiential flavoured strategies and observes that the methods not only sway purchase behaviour but also enablea competitive edge. This is possible by appealing to emotions, behaviour, cognition, and the socio-cultural aspects of the individual consumers. It is noted that as traditional message-based and promotional marketing strategies lose their efficacy, more and more consumers seek alternative, more interesting and involving forms. This development has necessitated businesses to use experiential marketing styles that resonate with the audiences, hence increasing the customer retention arm of modern businesses as well as loyalty to the brands. In a nutshell, the paper captures the potential of experiential marketing in India by exploring the real engagement that brings about the success of the business in the long term.