Day: March 6, 2020

Ensure you’re squeezing value out of every dollar spent.

5 min read

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Marketing and advertising budgets vary widely across organizations. An often-cited statistic from the U.S. Small Business Association suggests spending about 8 percent of gross revenue on marketing if you make under $5 million annually and your net profit parks at 10 to 15 percent. However, a 2016 survey of 168 Chief Marketing Officers found that firms spent a median of 10 percent of their budget on marketing, but some spent as much as 40 percent. For every projection on how much to spend, there’s a company breaking the rules and still achieving success.

A common beginner error is to allocate the majority of your marketing budget to paid media advertising. Rather than going all-in on top-of-funnel visibility, consider putting a portion of budget toward engaging already-aware consumers

An panel has suggested introduction of daily premium payment policies to deepen penetration in low-income groups. The committee on ‘micro-insurance’ also said the product benefits need to be simple so that they can be easily understood by customers.

It should be clearly spelt out in terms of gives and gets for the customer — that is, what the customer gives and what s/he gets, the panel said in its report. Micro-is specifically intended for the protection of low-income people, with affordable products to help them cope with and recover from financial losses.

The panel has also made a case for ‘goal based savings products’ like those for child education or higher education. On the pricing front, it said reduction in reserve requirement even for a short duration can help in better pricing and may also help

Civil Aviation Minister on Friday will move The Aircraft (Amendment) Bill, 2020 in for consideration and passing.

The Bill seeks to make three regulatory bodies in civil aviation more effective and expand the scope of the existing Act to include regulation of all areas of air navigation.

The Aircraft (Amendment) Bill, 2020, was introduced by Minister of State for Parliamentary Affairs on behalf of Civil Aviation Minister last month.

The Bill, which seeks to amend the Aircraft Act, 1934 enhances the maximum limit of fine from the existing Rs 10 lakh to Rs 1 crore. It also enlarges the scope of the existing Act to include regulation of all areas of air navigation.

The amendments would fulfil the requirements of the International Civil Aviation Organisation (ICAO).

Mirroring global peers, the Indian stock market, too, crashed on Friday as a double whammy of jitters and a sharp sell-off in banking space owing to developments around State Bank of India (SBI) and Life Insurance Corporation of India (LIC) picking stake in the troubled private sector lender YES Bank, compelled investors to pull out money from the equities and rush to safe havens.

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The S&P BSE Sensex tanked over 1,450 points or 3.8 per cent at open to 37,000 levels. NSE’s Nifty50 slipped below 11,000 levels and hit a low of 10,827. However, both indices recovered partially as trade progressed. In the currency market, rupee tumbled to 74 a dollar for the first time since October 31, 2018. On Thursday it ended at 73.33.

Here’s a look at the top factors that triggered panic selling in