Below is the verbatim transcript of Ashish Kyal’s interview on Application of Elliott Wave in field of Marketing , Start-ups, Entrepreneurship with Sydenham Institute of Management Studies, Research (SIMSREE)
Q. How can Elliott Wave be used in Marketing?
Ans. Elliott wave is the concept developed to know in which way the economy is heading. We can use Elliott Wave in Stock Market and know how it will perform in next few months or years down the line. If we get to know that certain sector is going to grow rapidly it will help Marketing people to concentrate on that area or focus the required consumer group and similarly if we get to know that growth is going to be driven by spending then we can start focusing on the areas where disposable income is going to grow. For example, if we interpret that entertainment or media will perform well then your marketing strategy should be focused to capitalize people going those areas like theatres.
Q. So talking about the sentiments, what would be more appropriate to say, ‘Markets drive sentiments of people’ or ‘Sentiments of people drive markets’?
Ans. It is the collective social mood of the people, not just individual but overall mood of the society that will affect the market. Market do affect the sentiments of people but not to such extent. It is the thought process and ‘how the people feel’ that is going to drive the markets.
Q. How does big data analysis help entrepreneurs?
Ans. Being an entrepreneur, I have seen how things have worked since past few years. There is now a lot of data coming in through social media, twitter, facebook etc., but not all data is relevant. So organizing that data in structured manner and using that for benefit of people is going to be the key. That is where data analytics will play its role. You need to figure out and segregate the data required for the growth your business.
Q. a) What is your advice to the MBA students regarding start-ups?
b) Just by turmoil in few start-ups people have already started stating that it is a bubble. What is your take on that?
Ans. If you want to do something, do it now rather than thinking to start-up after getting experience of a year or five years. Even if you fail, you are going to be in demand because you have seen how it had went and how it failed. So never be under impression that no one will hire you after say two years. Things have changed now. You work on marketing, you work on operations, you work on research, you work in a team and your team works with you. There is a lot to gain. Do not talk to too many people to seek their advice, if you have idea and resources, just do it !
Q. What do you think about solar energy ? Recently Elon Musk is working on it.
Ans. Solar energy is definitely going to be a part of growth but the problem is low commodity prices is not making it easily viable. That’s one. Secondly, capital expenditure required is pretty huge. So subsidies have to be announced by government and they have have to be passed to the masses effectively. So if government supports renewable energy that will surely be beneficial.
Q. Do you think that technical analysis tools like ‘Elliott Waves’ should be practically implemented in the MBA syllabus?
Ans. Absolutely! Currently technical analysis is not much covered in curriculum. People think that technical analysis is just about drawing a trend line. Something like Fibonacci or Elliott Wave can help you forecast the future and know about the sectors that will outperform which in turn will help you take informed decisions rather than taking random decisions.