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"Multinational companies all over the world have to strategize by making futuristic products and technologies available to the customers with changing time. Companies that fails to innovate are slowly extinct from the market," said world-renowned author and Father of Modern Marketing, Prof. Philip Kotler during the inauguration ceremony of the TechInvent 2021 organized by Chandigarh University.Budding technocrats from all over India are participating in the month-long virtual TechInvent in which more than 50+ category of events based upon 16 United Nation Sustainable Development Goals would be organized where students from technical countries, central universities, Private Universities and Colleges would be competing with each other to grab exciting cash rewards worth Rs 20 Lakhs.Dr. Waldemar A. Pfoertsch, Prof. Emeritus for International Business at Pforzheim University, Germany, Dr. Anil Sahasrabudhe, Chairman AICTE and Anantha Duraiappah, Director UNESCO MGIEP were amongst the dignitaries who were present during the inauguration ceremony.While delivering his inaugural address to the students Prof. Kotler said, "The emergence of digital marketing has opened up new avenues for the smaller companies while on the other hand, it has offered access to more variety for the consumers. Marketing 5.O has just introduced the idea of using Artificial Intelligence in understanding the mood and requirement of the consumers."He further said that today when we go online shopping the search algorithm used by the digital platforms show results that is based on the historical consumer behavior. While laying stress on using the mix blend of traditional and modern marketing methods, Prof. Kotler said, "The traditional marketing techniques are based on consumer experience while the modern-day digital marketing techniques are based on historical consumer behavior. My advice to the young and budding innovators is to first study the problems that are currently be faced in the society which should be followed by searching the possible solutions to address those problem by innovating new products and technologies."Dr. Waldemar A. Pfoertsch said, "Young and inquisitive mind helps in building the technology-driven products which are the future of the global markets. If we see the technological advancement that were held during the last decade, we will find that most of them have been the brainchild of youth innovators who through their futuristic vision have put their expertise in the development of products that we are using today."Dr. Waldemar further added that university and higher institution play a critical role in breeding the next generation of innovators as it is important for the student community to learn the art of practically applying the theoretical concepts studied in classroom."Global pandemic has affected the practical learning of the student community. As the student community has been dependent on online learning it has been observed that the technical knowledge could not be passed successfully during the pandemic period" said Prof. Priestly Shan, Dean Academic Affair, Chandigarh University.TechInvent 2021 is an attempt to provide an international platform to the students where they cannot only show their technical skills but also gives them an opportunity to learn new technologies from industry experts. During the month-long TechInvent 2021 hosted by Chandigarh University, 50+ events in the field of engineering, business management, mass communication, hotel management, fine arts, law, sciences and technology, fashion designing, industrial design, architecture would be held.The students can register online to participate and submit their entries till than more than 10000 students have already registered, and the initial rounds of the events are underway while the final rounds would be organized on 3rd and 4th September 2021.While giving details about the TechInvent 2021, Dr. R.S Bawa, Pro-Chancellor, Chandigarh University said, "42 flagship events, 21 International Workshops, 6 National Level Conferences, 3 Entrepreneurship Summits would be organized during the month-long National level TechInvent 2021. Dignitaries from Ministry of Power, Ministry of Earth Sciences, UNESCO, PEDA, AICTE, Asian Climate Change Education Centre would be taking part while representatives from more than 20 industries would also interact with the students during the International Level TechInvent.This story is provided by PRNewswire.will not be responsible in any way for the content of this article. (ANI/PRNewswire)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :Prof. Philip Kotler "The Father of Marketing" inaugurates International TechInvent-2021 at Chandigarh University

"Multinational companies all over the world have to strategize by making futuristic products and technologies available to the customers with changing time. Companies that fails to innovate are slowly extinct from the market," said world-renowned aut ...