Companies are using children promote their product and services. Companies in industry as diverse as financial services, decorative paints and automobiles are featuring children in commercial campaigns, promotional campaigns. Kotak Mahindra Bank has launched financial products for children, and its advertisements educate children about money. The bank has acquired a large number of minor accounts, and as every minor account is accompanied with a parent account, its gains have been phenomenal. Kotak Mahindra's insights revealed that though parents were eager to teach financial prudence to their children, they themselves were overawed by the complexity of financial products for children. As a result, most parents did not invest in any specific financial plans for their children.
Kansai Nerolac has launched a kid's range of paints, a range of decorative paints, and the company foresees a tremendous increase in sales in this category. The presence of children in an advertisement increases its visibility and persuasive power. Marketers are also realizing that children are influencing the purchase decisions in their families, as they are well informed, and have started having a life of their own at a much younger age. Children of working parents spend lot of time on their own, and are mature beyond their years. Parents are happy to let their children decide what the family should buy in categories as diverse as cars, holidays, and insurance. Children influence and participate in family decision making. Companies are also associating with children in other ways. For example, Bajaj Allianz has set up the Bajaj Allianz Junior Football camp, in which talented children are selected and sent to a football training camp These children get a scholarship when they return from the camp. The company connects with children and their parents as they visit schools and clubs scouting for talent. It also organizes talent hunts in schools to discover the unique talents of children. Birla Sun Life Insurance builds its association with parents through a website 'notjustjobsbutpassion' that helps children discover their passion through an online scoring mechanism. Pogo channel has tied up with Knorr Soupy Noodles and Parle G to launch a school contact program, in which it interacts with more than 5 lakh students from 550 schools. Chhota Bheem (a popular cartoon character) engages these children in fun and learning.
Questions:
1. How are children influencing decision making in families? (3 Marks) 2. How are companies using children in their promotional activities? Give appropriate examples
other than the examples in the above case. (3 Marks)
3. Is it ethical to target children to influence purchase decision? Why? (4 Marks)
Answers
Explanation:
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