JBIMS Spectrum 2018
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ISSN: 2320-7272 Vol. VI, No. I, January-June 2018 JBIMS Spectrum Jamnalal Bajaj Institute of Management Studies Department of Management Studies, University of Mumbai ISSN: 2320–7272 © JBIMS Spectrum Vol. VI, No. I, January – June 2018 No part of this publication may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the copyright owners. DISCLAIMER The authors are solely responsible for the contents of the papers compiled in this volume. The publishers or editors do not take any responsibility for the same in any manner. Errors, if any, are purely unintentional and readers are requested to communicate such errors to the editors or publishers to avoid discrepancies in future. Printed by MUMBAI UNIVERSITY PRESS Address: CST Road, Kalina, Santacruz East, Mumbai, Maharashtra Phone No.: 022 2654 3000, Website: www.mu.ac.in From the Editor’s Desk Jamnalal Bajaj Institute of Management Studies (JBIMS) was founded in 1965 by the University of Mumbai. The philosophy which has inspired the vision and approach of JBIMS since its inception is that of cultivating management thinkers and innovators who are deeply entrenched and firmly rooted in the Indian soil. This has been underlying theme of JBIMS for 50 glorious years as it launched various educational, research and development activities for the advancement of management education. The institute has constantly focused on inculcating an action- oriented approach and driving the need to constantly innovate and reinvent in order to sustain in a dynamic business environment. With a view to foster innovation and research, JBIMS has taken yet another leap forward with the Research Journal that will be published twice a year. Driven by mission of quality education and research, the Journal will attract the brightest of researchers and academicians to share and contribute their research and experience. This research journal aims to create greater collaboration and sharing of academic understanding. The Institute seeks to provide excellence in management education and research by way of this journal-JBIMS Spectrum. The Journal aims to become a wealth of world-class research and analysis across the entire spectrum of management education. By way of our alliances, we hope to create a rich compilation of management knowledge that will benefit our readers which comprises industrial stalwarts, researchers, academicians and the student fraternity. We, thereby, invite all research scholars, academicians, management teachers, practicing managers and students to use this golden opportunity to take their research to the vast network associated with JBIMS and enable us to create a portal for the transfer of high-quality research-driven information. The Editor JBIMS Spectrum Editorial Board Dr. Chandrahauns Chavan Director Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Dr. Kavita Laghate Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Mr. Sandesh Kirkire Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Dr. Srinivasan Associate Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Dr. Anil Pande Assistant Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Mr. Balkrishna Parab Assistant Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Dr. Sarika Mahajan Assistant Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Ms. Dur Khan Assistant Professor Jamnalal Bajaj Institute of Management Studies University of Mumbai, Mumbai–400020 Contents A Study of Counterfeit Products Marketing in India – The ill-face of 1 Globalisation 1 Suvrashis Sarkar Bollywood’s Global Strides: An Overview 2 14 Dr. Snehal S. Shinde, Ms. Anuradha Patil A study to understand the Return on Investment of Digital Media 3 Expenditure, with respect to Indian banks 29 Ms. Sheetal Gangaramani, Dr. Chandrahauns R. Chavan Will Tata Nano Cars have any future? 4 49 Dr. Ashok Shripadrao Kurtkoti A gender based study on impact of Personality traits on Placements of 5 Management Students 59 Dur Khan Analysis of the Inter Organizational Competencies Effect on Supply Chain 6 Effectiveness 78 Mr. Sanjeev Thakur, Dr. Chandrahauns Chavan Challenges to Inclusive Growth: Outsourcing Sector in Reverse Globalization Era 7 86 Dr. Mona Bhalla, Ms. Pallavi Rallan, Mr. Priyank Chokshi, Mr. Pratik Saraf Micro Insurance in India: An Analysis of the Perceptions, Problems and 8 Opportunities 114 Dr.D.Srijanani Dynamic Firm-level risk methodology a statistical approach towards 9 focusing on “Deglobalization” 129 Rohit Malhotra Is Bitcoin investment dependent on interest rate? 10 144 Neha Varshney, Siddharth Agarwal Life Insurance for Rural Customers and Role of Life Insurance for 11 Financial Inclusions 157 Dr. P M Kulkarni, Mrs. Jyoti Talreja/Jamnan Testing the Weak Form of Market Efficiency 12 174 Megha Gupta, Dr. Sanjiwani Kumar Detecting Credit Card Fraud Using Data Pre- Processing Technique 13 184 Dr. C. R. Chavan Indian Banking Stocks: Trend Or Random Walk? “Testing Weak Form Efficiency Of Indian Stock Market By Using Cnx 14 193 Bankex Index” Dr. Sarika Mahajan An Overview And Analysis Of Indian Future Commodity Market 15 208 Akhil Amul Shah, Dr. Madhavi Dhole Unicorns and their Eschewment of IPOs 16 220 Balkrishna Parab Reinforcement of Small Scale Industries in Western Maharashtra: 17 A Step Towards Sustainable Development 237 Dr. Abid Yunus Salati, Mr. Purushottam Arvind Petare Changing Frequency in Advertisements-Hindi Channel Rural 18 246 Dr. Anil Pande, Prof. Nookala Rambabu A Study of Consumer Preferences of Airlines In India 19 257 Dr. Yashoda Durge, Jayesh Dhuri Impact of Environmental Uncertainty and Supply Chain Disruptions on 20 Supply Chain Practices and Performance: A Conceptual Model 274 Nisa James, Dr. Roji George Globalization, Inequality And Politics 21 290 Rashmi Ranjan Cryptocurrency: Investor Psychology of Indian Consumers (Economy) 22 with respect to South Mumbai 301 Jay Kewalramani Role of Heuristics and Biases in Decisions about Performance and Pay: A 23 Study of Moderating Effects of Self Efficacy on Loss Aversion 316 Shaivi Mishra “Sustainable Prosperity Through Equilibrium Growth: An Econometric 24 Study” 332 Ravikumar Gajbiye, Dr. Kavita Laghate A Study On The Retailing Trends In India: Snapshot 2016. 25 349 Dr Anjana Grewal, Amit Kawadiwale A study of Counterfeit Products Marketing in India – The ill-face of Globalisation JBIMS Spectrum Vol. VI, No. 1, January-June 2018 ISSN: 2320-7272 Page 001-013 A STUDY OF COUNTERFEIT PRODUCTS MARKETING IN INDIA – THE ILL-FACE OF GLOBALISATION Suvrashis Sarkar Marketing Professional and Researcher for PhD of the University of Mumbai at Jamnalal Bajaj Institute of Management Studies ABSTRACT Globalization has opened the gates of trade across the world, but with the advent of globalization, the market for imported products in India increased phenomenally, more so over the last two and half decades. In this context not only organized companies in the market have exploited the market by introducing products from our neighboring countries but also small unorganized companies have followed the steps. Some companies have even gone beyond by simply counterfeiting the originals here in India and giving them a ‘imported’ tag. Even the organized companies have gone in the path by procuring from the same foreign vendors and opening the gates for counterfeit, letting rampant infringement of Intellectual Property Rights in Indian market. This ill-face of globalization has negated the otherwise lucrative picture of business growth, by creating a huge opportunity of illegal counterfeit trade in Indian market. This research is primarily based on the study done on the home appliances business in India, where the researcher has explored in detail why companies make counterfeits, why retailers sell those counterfeits and why consumers buy counterfeits. This paper deals only with the dealers and consumers role in counterfeit marketing. The results have shown that counterfeit products marketing is flourishing and consumption in the market is primarily due to the dealers/retailers influence on the consumers. The researcher has explored the topic to scientifically understand consumer’s point of view in buying counterfeit and also to scientifically understand dealers’ point of view in stocking and selling counterfeit products in market and provide suggestive solutions to curb this counterfeit trade as the ill-face of globalization. KEYWORDS: Counterfeit, Intellectual Property Rights, Home appliances, Globalization JBIMS Spectrum, Vol. VI, No. 1, January-June 2018/1 A study of Counterfeit Products Marketing in India – The ill-face of Globalisation INTRODUCTION Despite the increasing interest of discussion in both academia and industry about strategies in brand management for marketing excellence, legal protection mechanisms of brands, Intellectual Property Rights (IPR) are seldom discussed in detail. However, the researcher argues that IPR including Trademarks, Patents, Copyrights, Design rights, are the most important aspects to consider in such discussions, more so with realization to tackle unfair competition. In a highly competitive business environment of India with many local players