Madison World has partnered with OnMobile, a telecom value-added service provider, to launch a mobile marketing firm, Kabuza Marketing. The mobile marketing firm will be a joint venture, in which Madison World and OnMobile own 50 per cent stake each.
Kabuza Marketing will offer a variety of mobile marketing services in the Indian sub-continent. In an official communiqué, Arvind Rao, chief executive officer, chairman and co-founder, OnMobile, says, "This joint venture is one of its kind and has the potential to revolutionise both the mobile VAS and the traditional marketing functions."
Sam Balsara, chairman and managing director, Madison World, says, "What excites me about mobile is its interactive, personalized and always-on attributes, accompanied by unbelievable reach in numbers (more than 600 million)."
Balsara states that the total advertising market in India is restricted to about Rs 20,000 crore; whereas the potential opportunity to sell products and services and conduct commerce through mobile is Rs 200,000 crore.
"Our attempt is to tap into this opportunity, which should provide top marketers a cost-effective distribution channel, bring in a lot of long tail businesses, in addition to large marketers into the gamut, and provide consumers a convenient option to order and pay for products and services, through the comfort and convenience of their very own mobile," he explains.