Book Description

With revolutionary changes in technology, businesses have evolved dramatically in this world both in the way it is practiced and also in the way modern offerings are being delivered to the constantly evolving and knowledgeable consumers with varied choices and tastes. Marketing being the core of understanding the consumers, identifying the need gap and delivering the best possible to consumers, strategizing the same is a challenging activity in contemporary business practice. With rapid changes in the market and with cut-throat competition around, businesses need market driven business strategies. Strategic marketing approach would ideally integrate the business strategy with marketing function to analyze market changes and create a competitive advantage. Market changes and new forms of competition have led to impressive growth and performance for those companies whose management have incorporated strategic marketing concepts into business strategy development and implementation. Compared to the past, now organizations' strategies are more influenced by forces in the market. It is important to realize the basics that economic, social, governmental and technological changes affect markets, creating opportunities for some and threat for others. Intellectual Property Rights (IPRs) have never been more economically and politically important or controversial than they are today. Patents, Copyrights, Trademarks, Industrial Designs, Integrated circuits and Geographical indications are frequently mentioned in discussions and debates on such diverse topics as public health, food security, education, trade, industrial policy, traditional knowledge, biodiversity, biotechnology, the Internet, and the entertainment and media industries. In a knowledgebased economy, there is no doubt that an understanding of IPRs is indispensable to informed policy making in all areas of human development. It is but natural that in this new scenario, Intellectual Property Rights should occupy the central stage in the economic development. A renewed awakening of the role of intellectual property in the countries of the various regions of the world led to the adoption or revision of national legislation on Intellectual Property Rights as well as to the establishment or modernization of Government structures that administer such legislation. The changing legal regime of IPR has become one of the crucial issues in the contemporary relations among nations. Central to such a concern has been the level of protection sought or contested on the rights at international and transnational level. It is critical to realize that we have entered in the era of a knowledge driven society where businesses in the market are increasingly becoming knowledge based entities without enough attention to the impact of knowledge dynamics on strategic management. In general terms of business management, IPR is considered as a legal entity where it is managed and taken care by a team of legal counsels who come into function every time the brand or products of the business is being infringed and the reputation being compromised. This book shows how and why IPR is much more beyond just a legal entity and is a crucial part of strategic marketing function where it can become a cultural adoption in the management of business to protect its various intellectual properties associated with the brand, its products or services, etc. and utilize it to create a leadership position in the market. This books is an attempt to create the culture of managing IPR as a part of strategic marketing so as to create competitive advantage in the marketplace. Be it an individual organization, an industry or even as a nation, IPR as a strategic marketing tool has the potential to create the future where brand, technology, service, people everything can together become a force for development and leadership. This book starts with introduction to the concept of IPR in India, proceeds to discuss the need and importance of IPR in business and thereby the role of IPR in strategic marketing. Each chapter has been made on the basis of strong research based thought process so as to prove how and why IPR is the next level of strategic marketing approach for attaining competitive advantage be it for an individual organization, an industry or even India as a nation. Each chapter of this book is research based and the authors have postulated their model to show how IPR is the next level of strategic marketing approach for attaining competitive advantage in business. I for Innovation used to be a thought since few decades but realizing the fact that innovation is zero without its due consideration and protection as an IPR, hence I for IPR will be the new buzz-word now as a strategic marketing mantra for businesses. This book has happened as the part of a larger research work done by Suvrashis Sarkar under the guidance of Dr. Stephen D'Silva at the Jamnalal Bajaj Institute of Management Studies, Department of Management Studies of the University of Mumbai. This book “I for IPR – A Strategic Marketing Mantra” is not an examination specific text-book for any particular course curriculum, but is a valuable resource of knowledge for the modern generation business management professional across all levels. This book will be a valuable source of knowledge in theory and practice for business management students, business professionals, management leaders, marketing heads, brand custodians, academicians in the field of business management and technology. We suggest our readers to also read our other title “Case Studies on IPR Management – An Indian Perspective” as a case study supplement to this book. We would like to highlight the disclaimer concerning this book, since it contains reference of several trademarks, brand names of several organizations and businesses, that the reference of such several trademarks, brand names, etc. have been mentioned purely and only for academic reference. All the trademarks, brand names, etc. mentioned in this book are the properties of their respective business owners or organizations and the authors do not intend to infringe any of the intellectual properties associated with the several brand names mentioned here in this book.