Stocks
Nifty, Sensex may be headed down – Friday closing report
Nifty will be headed to 8,000 if it goes below 8,050
 
We had mentioned in Thursday’s closing report NSE's CNX Nifty rallies may not sustain even if new highs are hit. On Friday, although the index opened higher, it showed a declining trend after the first 45 minutes of range-bound move on the bourse.
 
S&P BSE Sensex opened at 27,127 and moved lower to hit a low of 26,921 after hitting a high of 27,179. Sensex closed at 27,027 (down 59 points or 0.22%). Nifty opened at 8,100 and moved from the level of 8,123 to 8,050 and closed at 8,087 (down 9 points or 0.11%). NSE recorded a higher volume of 112.48 crore shares. India VIX fell 1.09% to close at 12.9350.
 
Australia's Prime Minister Tony Abbott said that he would sign a civil nuclear deal with Indian counterpart Prime Minister Narendra Modi, thus clearing the way for uranium sales to India.
 
Wockhardt (13.17%) was the top gainer in ‘A’ group on the BSE. It recently announced that two of its anti-infective drugs, WCK 771 and WCK 2349, have received qualified infectious disease product (QIDP) status from the US health regulator. QIDP status allows fast-track review of the drug application by the US Food and Drug Administration. It also said that this is the first instance of an Indian pharmaceutical company receiving QIDP status.
 
National Aluminium (8.73%), hit its 52-week high today, was among the top two gainer in ‘A’ group on the BSE.
 
Jaiprakash Associates (10.34%) continues to be the top loser today also in the ‘A’ group on the BSE on rumours that the promoters were selling their shares. The stock hit its 52-week low today.
Bajaj Auto (1.46%) was again the top gainer today in Sensex 30 pack. 
 
Larsen & Toubro (1.27%) was among the top two gainers in the Sensex 30 pack has won a Rs5,100 crore supercritical power plant order from MP State Utility, 1,320 MW plant to be executed on EPC basis under stringent schedule.
 
Hero MotoCorp (2.16%) which hit its 52-week high on Thursday, corrected today and was the top loser in the Sensex 30 stock.
 
US indices closed Thursday marginally down. Market awaits the influential US  non-farm payroll data for August which is due later today.
 
Except for Shanghai Composite (0.85%), Jakarta Composite (0.23%) and NZSE 50 (0.48%) all the other Asian indices closed in the red. Seoul Composite (0.33%) was the top loser.
 
European indices are trading in the red. US Futures too are trading lower.
 
The European Central Bank (ECB) unexpectedly moved to cut its main policy rates and announced additional measures after a monetary policy review on Thursday.

User

Can NRIs, PIOs and OCIs buy Indian life Insurance?
Insurers seem to be offering insurance to NRIs on a case-by-case basis, but for PIOs and OCIs...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Book Review of 'Contagious: Why Things Catch On'
Theory of Social Virality. Why certain ideas spread quickly
 
Malcolm Gladwell’s Tipping Point came out in 2000. The book attempted to explain how social epidemics are spread by a small number of special people, who he calls mavens, connectors and salesmen. It was an instant hit. Except that, according to Jonah Berger, Gladwell’s thesis is not quite correct. More important than the messenger, Berger argues, is the message. Berger, who teaches marketing at the Wharton School, has identified six factors that make anything go viral for which he has created an acronym, STEPPS, derived from the first letter of each of these factors. These stand for:
 
Social Currency: Just as people need money to buy things, they need social currency to impress others or simply share. Snapple, a beverage, started putting surprising trivia under the bottle cap which would be visible after you open the bottle. (Fact#12 Like Kangaroos cannot walk backwards). The idea is to give user talking points of experience to share easily.
 
Triggers: Frequent, preferably timely, reminders of the product or the idea. For example: ‘coffee with Kit Kat’ reminded people of Kit Kat each time they reached for coffee, boosting sales of a flagging brand. Cheerios, the cereal, is boring. Disney World is exciting. But Cheerios gets more word-of-mouth publicity than Magic Kingdom simple because so many more people eat the cereal every day than those who go to Disney World. Contrary to conventional wisdom, interesting does not always beat boring. 
 
Emotion: This is the obvious one. Human beings, in fact, react with emotions first. But not all emotions lead them to share, making things catch on. Some studies have shown only those emotions that lead to physiological arousal led to greater sharing. For instance, sadness does not lead to more sharing but anger, humour and awe do.
 
Public: A highly visible item that advertises itself. For example: white earphones launched by Apple or the distinctive tubular cans of Pringles. When Steve Jobs put the Apple logo on the computer lid, he debated whether the logo should look ‘right-side up’ for the user or the onlookers. Putting it the correct way for the onlooker would mean that the logo would look upside down for the user when the lid was closed. He decided that ‘observability’ to the world was more important even if it looked upside down for the user.
 
Practical Value: This is another obvious factor. Features of great practical value lead people to share more. This is why five ways to lose weight and 10 dating tips for the New Year always get shared and clicked. 
 
Stories: Narratives are more engrossing than facts. We all know that ads carry a lot of information but are not credible. Therefore, you need stories which may provide the same, or even less, information but in a highly engaging fashion.
 
As expected, the book is full of examples of what works. Thanks to digital data being available, many are backed by objective analysis. For instance, what kinds of articles are shared the most? A study the author conducted of the most e-mailed articles from The New York Times showed that stories about health and education were among the highest-shared because of their practical value while, and contrary to what you think, it is not music, films or fashion that always goes viral. Even articles on science do because they “frequently chronicle innovations and discoveries” that evoke a feeling of awe (emotion). 
Contagious is not a new book; but it is one of those that explain a social trend based on individual and collective behaviour and, therefore, worth discussing. Made to Stick by Chip Heath and Dan Heath (2007) has similar ideas. 
 
However, Berger is being disingenuous when he claims, “Anyone can use it (STEPPS). It doesn’t require a huge advertising budget, marketing genius, or some sort of creativity gene.” By following the STEPPS, he claims, “You can make any product or idea contagious.”
 
Ultimately, like all books based on inductive logic (cherry-picked evidence leading to theory), this book’s theory too faces the problem of failing to explain phenomena that it chooses not to explain. How on earth did the Korean pop star Psy’s wacky, tuneless horse-dance video, Gangnam Style, manage to rack up more than 1.3 billion views on YouTube? You wonder which of the six STEPPS worked here? None. Clearly, there is more to theory of viral-ity than Berger has hit upon.  

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)