Harvard Case - Delhi/World Sustainable Development Summit (DSDS/WSDS): Rechristening It and the Path Ahead
"Delhi/World Sustainable Development Summit (DSDS/WSDS): Rechristening It and the Path Ahead" Harvard business case study is written by Vijay Vancheswar, DK Batra. It deals with the challenges in the field of Marketing. The case study is 14 page(s) long and it was first published on : Jan 1, 2018
At Fern Fort University, we recommend a comprehensive rebranding strategy for the Delhi/World Sustainable Development Summit (DSDS/WSDS) to enhance its global reach, impact, and relevance. This strategy involves a multi-faceted approach encompassing a new name, a refined brand identity, targeted marketing campaigns, and a robust digital presence.
2. Background
The DSDS/WSDS, organized by The Energy and Resources Institute (TERI), is a prominent platform for discussing sustainable development issues. However, the summit faces challenges in attracting a wider international audience and maximizing its impact. The case study highlights the need for a rebranding strategy to address these issues and position the summit as a leading global voice in sustainability.
The main protagonists in this case are:
- TERI: The organization responsible for organizing the summit and driving its overall strategy.
- The Summit Organizers: The team responsible for planning, executing, and promoting the summit.
- The Stakeholders: A diverse group including government officials, industry leaders, academics, and NGOs who participate in the summit.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong Reputation: The summit enjoys a strong reputation for its focus on sustainable development and its diverse range of participants.
- Experienced Organizer: TERI has a long history of organizing successful events and possesses the expertise to manage a large-scale summit.
- Global Reach: The summit attracts participants from across the globe, demonstrating its potential for international impact.
Weaknesses:
- Confusing Name: The dual name (DSDS/WSDS) is confusing and doesn't effectively communicate the summit's focus.
- Limited Brand Awareness: The summit lacks strong brand recognition outside of India, hindering its global reach.
- Outdated Marketing Strategy: The current marketing strategy relies heavily on traditional methods and lacks a strong digital presence.
Opportunities:
- Growing Sustainability Focus: The global focus on sustainability presents a significant opportunity for the summit to expand its reach and influence.
- Digital Marketing: Utilizing digital marketing tools and social media can significantly increase brand awareness and engagement.
- Strategic Partnerships: Collaborating with international organizations and institutions can enhance the summit's credibility and global impact.
Threats:
- Competition: The summit faces competition from other sustainability-focused events, requiring a strong differentiation strategy.
- Economic Fluctuations: Global economic conditions can impact participant attendance and sponsorship opportunities.
- Changing Technology: The rapid evolution of technology requires the summit to adapt its format and content to remain relevant.
Market Segmentation:
- Target Market 1: Global sustainability leaders, including government officials, industry executives, and academics.
- Target Market 2: Young professionals and students interested in sustainable development careers.
- Target Market 3: Individuals and organizations committed to promoting sustainable practices.
Brand Positioning:
The summit should be positioned as a leading global platform for collaborative action and innovation in sustainable development. This positioning emphasizes the summit's focus on practical solutions, international collaboration, and cutting-edge research.
Consumer Behavior Analysis:
- Information Seeking: Participants seek information on the latest trends, technologies, and policies related to sustainability.
- Networking Opportunities: The summit provides a platform for networking with industry peers and potential collaborators.
- Knowledge Sharing: Participants are eager to share their expertise and learn from others.
Competitive Analysis:
- World Economic Forum: A global platform for discussing economic and societal issues, including sustainability.
- United Nations Climate Change Conference (COP): A major international conference focused on climate change mitigation and adaptation.
- GreenBiz: A leading organization focused on sustainability in business.
4. Recommendations
1. Rebranding Strategy:
- New Name: Adopt a concise and impactful name that clearly communicates the summit's focus on sustainable development, such as 'Global Sustainability Summit' or 'World Sustainable Development Forum.'
- Refined Brand Identity: Develop a new logo, tagline, and visual identity that reflects the summit's values of collaboration, innovation, and global reach.
- Brand Messaging: Develop a clear and consistent brand message that highlights the summit's unique value proposition and its role in driving sustainable development solutions.
2. Marketing Strategy:
- Digital Marketing: Invest in a robust digital marketing strategy to reach a wider audience, including:
- Social Media Marketing: Engage actively on relevant social media platforms, sharing content, promoting events, and fostering online discussions.
- Content Marketing: Create valuable content, such as articles, videos, and infographics, to educate and engage target audiences.
- Search Engine Optimization (SEO): Optimize the summit's website and content for search engines to improve online visibility.
- Email Marketing: Build an email list and send targeted newsletters and updates to potential participants.
- Public Relations: Develop a proactive public relations strategy to generate media coverage and build brand awareness.
- Partnerships: Collaborate with international organizations, NGOs, and industry leaders to expand the summit's reach and influence.
- Targeted Advertising: Utilize online advertising platforms to reach specific target audiences based on demographics, interests, and online behavior.
3. Event Experience:
- Interactive Sessions: Incorporate interactive sessions, workshops, and networking events to enhance participant engagement.
- Technology Integration: Utilize technology to facilitate virtual participation, live streaming, and data analysis.
- Sustainable Practices: Implement sustainable practices throughout the summit, such as reducing waste, using renewable energy, and promoting sustainable transportation.
4. Content Strategy:
- Focus on Innovation: Highlight cutting-edge research, technologies, and solutions driving sustainable development.
- Global Perspectives: Include diverse perspectives from different regions, sectors, and cultures.
- Action-Oriented Content: Focus on practical solutions and actionable steps that participants can implement.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of the summit's strengths, weaknesses, opportunities, and threats, taking into account the following factors:
- Core Competencies and Consistency with Mission: The recommendations align with TERI's mission to promote sustainable development and leverage its expertise in organizing large-scale events.
- External Customers and Internal Clients: The recommendations address the needs of the summit's diverse stakeholders, including government officials, industry leaders, academics, and NGOs.
- Competitors: The recommendations differentiate the summit from its competitors by focusing on its unique value proposition and its role in driving collaborative action.
- Attractiveness: The recommendations are expected to enhance the summit's attractiveness to participants, sponsors, and media, leading to increased attendance, revenue, and brand awareness.
6. Conclusion
By implementing a comprehensive rebranding strategy, the DSDS/WSDS can solidify its position as a leading global platform for sustainable development. The recommendations focus on enhancing brand awareness, engaging target audiences, and fostering international collaboration. This approach will enable the summit to achieve its full potential and contribute significantly to the global sustainability agenda.
7. Discussion
Alternatives:
- Maintaining the Current Name and Branding: This option would be less effective in attracting a wider audience and differentiating the summit from its competitors.
- Focusing Solely on Digital Marketing: This approach could be effective in reaching a wider audience but may not be sufficient to build a strong brand identity and establish the summit's credibility.
Risks and Key Assumptions:
- Implementation Challenges: Successfully implementing the rebranding strategy requires effective communication, coordination, and resource allocation.
- Market Response: The success of the rebranding strategy depends on the market's response to the new name, brand identity, and marketing campaigns.
- Economic Fluctuations: Global economic conditions could impact participant attendance and sponsorship opportunities.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Rebranding Strategy | Enhanced brand awareness, improved global reach, increased participant engagement | Implementation challenges, potential market resistance |
| Maintaining Current Name and Branding | Lower costs, less disruption | Limited impact on brand awareness and global reach |
| Focusing Solely on Digital Marketing | Cost-effective, wider reach | May not be sufficient to build a strong brand identity |
8. Next Steps
- Develop a detailed rebranding plan: This plan should outline the new name, brand identity, marketing strategy, and implementation timeline.
- Secure necessary resources: Allocate budget and staff to support the rebranding efforts.
- Engage stakeholders: Communicate the rebranding strategy to stakeholders and solicit feedback.
- Implement the rebranding plan: Execute the rebranding plan through a phased approach, starting with the new name and brand identity.
- Monitor progress and make adjustments: Track key metrics, such as website traffic, social media engagement, and participant attendance, to assess the effectiveness of the rebranding strategy.
By taking these steps, the DSDS/WSDS can successfully rebrand itself and establish its position as a leading global platform for sustainable development.
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Case Description
Founded in 1974, TERI (The Energy and Resources Institute) was an independent, not-for-profit research institute which focused on environment issues that affected Indian society and the world at large. TERI's mission was to develop innovative and sustainable interventions and cost-effective solutions that may be translated to action. TERI's competencies spanned the areas of training, outreach, research, and information. In keeping with its mission of being a knowledge-based agent of change, in June 2016, TERI decided to rechristen DSDS as World Sustainable Development Summit (WSDS). This was done to expand the profile of participants, increase its geographic reach and shift the location of the event, if required. It was also decided in 2016 to hold the annual event in October instead of February. The challenge confronting Dr. Verma was to come up with an effective event promotion strategy to enhance the WSDS' outreach program and generate significant revenues for TERI without compromising on the preferred choice of partners.
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