 Sam, what I'd like to do is, I think you might not know I'm a budding and a closeted psychologist in that sense of the word. And instead of going towards the media numbers, I think I do a fair amount of on the side reading, on the side research, on the side work, on some of the very exciting stuff that's been happening, you mentioned Karen Nelson, but there's some exciting stuff happening in terms of studying of our core consumers, which is human beings, right? And I think there have been people like Dr. Ian McGillchrist who've talked a lot about about decoding why not only why trends are there, but why human beings behave the way we do, right? Why we, for example, asking the basic questions, why we have two different halves to our brains, why, if you may, post 2006, across the Western world and across the world, advertising effectiveness seems to have gone down, right? Sorry? Sorry, we're just trying to reach the presentation so that you can see it. So I think there's some fairly interesting and fundamental work that's happened in terms of understanding who we deal with and how human beings behave and how we make decisions. And finally, I think as marketers, as business people, our key job is not clicks. It's not GRP. It's not reach. It's not frequency. It's making some delivery. It's making some change happen, making some decisions happen, and actions happen at the other end of the pipeline. And towards which I think taking a cue from a few points that you've mentioned, I just tried to dwell into why sometimes we forget the basics and what some of the latest science is telling us in terms of dealing with the consumers and why media works the way it does, right? There's some interesting perspective. So as soon as the deck comes, also as an opener, I think I'd like to share something that I do as a ritual at these events. Is there somebody from the building construction industry in the room? So that's something that we routinely, I routinely do at these events, which is essentially, yeah, which is essentially reintroduce the place which I work, right? And let me help you make a little more money also along the way. So I heard, I think, and I wrote this fact that I saw in Novel's deck not too many building construction and cement players per se. But let me just introduce Ultra Tech to you. We are at about, last year we touched about 63, 64,000 crores in terms of top line. We are a 70% B2C player, okay? Unlike most of us, and most of us don't buy it, you don't use the product, but we are a 70% B2C player. Of that 70%, about two-third of that comes out of ruling. Now the fun facts, I think for the last six, seven years, and I've just put the time period that I've been here, we've grown at 16.5%, which is faster than, there I say FMCG, FMCG overall as a sector has grown at about a percent, percent and a half over the GDP growth rate, right? Last bit, like I said, I promised to possibly make you some money as well. So if you put a lakh rupees in stock of buying Ultra Tech around that time, about five, six years ago, you would have nearly tripled your money. The Sensex would have doubled the money, but you would have tripled the money. There are some other marquee brands, companies out there, but I think we've really, really outperformed that. For a request for Navel next time, possibly. I think we need to be up there from a visibility point of view. Now coming on to, what's the theory of advertising coming to the serious topic, right? This is Mahesh Mekhalam, and many of you who've studied media at college or in the 50s, he said something really, really profound. He said medium is the message. And those words are really profound, and they hold some true meaning, which I'll just discuss as we go along. So let's first go on to the basic insights, right? Let's talk about those. The first piece is there. I think we are very passionate people. Marketers and business people are very passionate people. And maybe that's where the problem lies. We forget oftentimes that our tg is not us or our friends, right? So the amount of involvement that we have with our brands, we have With our categories, don't exist with people that we are talking to. While this is a basic one, I think it's how often we forget. I think it's got to be remembered how often we forget this and how Often we miss the therefore of this entire insight, right? There's a gentleman who's called as the possibly the Greatest advertiser that you've never, advertising professional That you've never heard of, a gentleman called Howard Gosage, right? He talked about that nobody likes advertising. Nobody is interested in advertising. And people are interested in only stuff of their own life. And sometimes if that, these two collide or these two intersect, Only then people watch advertising. And that's a really, really important point among that. Now, i think that, therefore, which brings it to us to a basic Insight, sorry, basic insight is that we are not dealing with What i call consumers. I think the biggest fallacy is we Are not dealing with consumers, we are not dealing with Containers where our products need to be poured. We are dealing with human beings, right? And what that means is that we've got to truly understand how These people, how these decision makers, how these human beings Make decisions, how they process information. We are not mere delivery people of messages to our consumers, right? Till the time we understand how these people make decisions, Till the time we understand how they take calls, till the time We understand how their attention works, till that time i think We would largely be talking in terms of circles, we'll move in circles and we'll talk stuff which is slightly inane to an extent, right? Now, it's no surprise that while sam talked in terms of that there is increased amount of media clutter. But the clutter has always existed in the minds of the consumers. Because ads are no ads. Consumers have a million more things to do. They have a mother-in-law, they have a crying baby, they have e-m-is to pay, and within that processed piece of information, i think it is us who have to find our slot and our way, right? And if we've got to think from that point of view, we've got to understand some of the greatest marketers understood this. They understood that the consumers don't care about your product, your services, or about you at all. They only care about their own dreams and their own goals. And if i were to, i think, talk us not becoming completely inconsequential, there is a way out of this entire thing. The way out of this is if we truly understand this being that we are talking to, if we truly go to the latest science that has understood as to how decision making, how information is processed among consumers, and also we align ourselves to the goals of our consumers, that's some time where we have some headway to make. Now, what does the latest science say as far as human beings and their decision making? The first big thing, which this gentleman who got the Nobel Prize in 2002, Daniel Kahneman talked about, he said that human beings are to thinking as swimming is to cats. We can do it, but we don't like to do it. Now, somebody's carried forward that thought and asked as to, okay, if we don't like to think, what's the core purpose of a brain? Right? And what the latest science tells us, the core purpose of brain is not thinking. The core purpose of brain is to keep us alive. While you are listening to this presentation, you are breathing, you are digesting the breakfast that you had in the morning. You are regulating the temperature of your body and the brain is busy doing far more important jobs of that nature and thinking only comes as a secondary activity to them. Now, what does that mean? What that means is that among the various, as nature has fine-tuned our thinking, our brain and the mechanism by which we survive, finding out which flavor of fabric softener that you launched in the market is least of the importance for the brain to absorb and take down its memory. Right? So how do we make decisions? Whenever human beings have jobs to be done, whenever there is a task ahead of me, I don't start from base zero. When you talk about Mahatma Gandhi, I have a history of the entire freedom struggle in my head. All those memories, all those associations come forward. Right? And it's not the base zero processing like a computer starting 2 plus 2 is equal to 4 that you start with. Right? Therefore, our task is not providing more and more information. And we can never simultaneously, the bad promise that digital advertising has done, we can never simultaneously attract or identify the exact moment when somebody is thinking of the jobs to be done and provide the correct information right at that moment despite the much promise that digital advertising has done to us. It doesn't work that way. Human beings don't work that way. What it does, what our human minds do, it extracts meaningful information, what it deems meaningful from the memory and therefore our task is not to provide the messengers of information to our consumers but to build great memories which can be recalled, which can be easily retrieved when they have, when they are in the mode to consume our product or when they are thinking of a serious jobs to be done from their point of view. Right? So we are not deliverers of information. It's not about running a message 4 times and making sure that it has been received at the other end. Right? We are not, so to say, zomatos of information. Marketers are builders of memories. Therefore, we are far closer to storytellers rather than purely delivery people. And that is profoundly insightful and it's profoundly meaningful in terms of how we approach, how we craft our messages and what mediums that we use. Right? Going forward, Sam talked about, this is individual customers. Sam talked about the latest thinking in terms of how brands grow. It's not the, it's not the loyalist or heavy customers which dictate most of the volumes that we build, but it's typically the non-consumers and it is the light consumers who need to be reached out. It's not a pecking order of Pareto that you go across to the heaviest people and be done with the job. Right? So how do you therefore go to people who are not interested in what you have to say, who have a myriad of problems to solve in their life, who might not be in the process of buying your category or thinking about your category and yet build memories for those people? How do you do that? That's the challenge that marketers and business people face. Also, this problem is compounded, especially in case of India. When we think in terms of India, most of the categories are very, very low penetration. So your growth doesn't lie in the core consumers, the five, six percent of people who are already consuming you, because they already have a memory structure built for you. Your job requires you to reach out to people who have not thought of your category, but who are potential non-buyers or light buyers of your category. So how do you do this rope trick of building memory for somebody who is not interested in you? Right? Therefore, the key task from advertisers and marketers point of view are three. One is gathering attention. We are in the business, not of media, but we are in the business of harvesting attention. And dare I say, we all talk in terms of media, IPL is consumed so many minutes, TV is consumed so many minutes. We've got to boil it down as to the messages or the conversation that we are having with our consumers, with the people that we want to talk to. What's the attention span? What is the time spent on those per se? So in three, three and a half hours of TV viewing that an average consumer does, the attention that somebody gives to advertising is less than ten minutes. Right? That also varies tremendously by the medium that we go to. Remember the important quote that I talked about, that medium is the message. And attention, as Sam also talked about, is hugely dependent on the medium delivering the message, not the message alone. The second piece is the way to large memories, build memories in people's mind which can be retrieved later. The second large tool is emotion, right? And media are varied in terms of their ability to deliver emotion. Digital advertising where we are told the rules of the game are three seconds, five seconds or ten seconds is not prone to delivering emotion. Right? And the third large piece is we don't make decisions. Human beings don't make decisions individually. Remember what Byron Sharp talks about is that you've got to build mental availability and physical availability. What is missed is an important point that you've got to build both together. If the pipeline doesn't flow from mental availability to physical availability, there is no transaction at the other end. And for this to happen, a lot of astute investors, people, business people, They are very clear that at times you need advertising not for consumers, but to build distribution. Because and to build both mental availability with consumers and mental availability with the retail so that finally mental and physical availability both can happen simultaneously. Right? That's what fame is needed for. You don't need fame for anything else. Second piece, when we are talking in terms of consumers getting into categories which are very low penetration, which I have not done before. Right? Especially let's say in my category, people most times 99% of people build once or their home once in their lifetime. So if you are getting into a decision which is not necessarily what they are familiar with or they are very deeply involved with, what do you do? You follow the heuristic that you follow the heuristic of risk mitigation. If I have heard the same thing across from five people, that must be true. And that's served the human race for a very long period of time. And we are no long, no, not going to leave that heuristic in a hurry. Right? Therefore, fame is of crucial importance. When I talk to consumers when that they've heard India's largest cement company or India's largest cement brand, their heuristic is very simple. Is that you've gone on national television and talked about this claim and if nobody's challenged it, this must be true. And it's a damn good reasoning from their part. They could be fund managers and manage risk because they've done a heuristic which makes perfect sense. If they've got to take a risk which is a very large risk, they at least know there are a million more people who've taken that decision before and they are fine. Right? So fame is another big piece which is there. And like Sam mentioned, all mediums are not great at building attention, emotion and delivering fame. Sam talked about this chart in terms of the amount of attention that various mediums deliver. There is another fun bit that is slightly more generic. Right? Which is the more you are not in a lean back mode, the more you are in an active search, active participation with the medium role, the lesser your attention is especially to the advertising, especially to stuff that you are not focused on. You are very focused on stuff that you are searching for. You are not focused on the advertising that you and I are going to serve. So the more the scrolls spread, the lesser is the attention. Right? What does that translate into? Sam talked in terms of cost per thousand or cost per, above a certain scale, cost per million or those numbers being at a scale from a target. Audience and numbers point of view. But if you translated this to cost per attention, I think TV trumps everything. Right? The other pieces for memory to be lodged into human brain, the minimum second age that is needed is two and a half second. Most digital mediums and most digital advertising does not cross that threshold. Therefore, it is no coincidence that worldwide since 2006 advertising as the share of digital has gone up, the share of the effectiveness of advertising has kept going down. Because you are not able to lodge something in people's memory and they are not able to retrieve it at the later point of time when they need the product or they are in the game of engaging with your category, Effectiveness typically goes down. Advertising, it's the biggest misnomer that I know 50% of advertising works 50% doesn't. Advertising works 50 to 90% in the long run. And if you are not able to establish memory and if you are not able to establish things in people's head, you've lost the large plot of advertising. Yeah, Sam talked in terms of the building not only having a high attention to start with TV also retains your attention for a longer time. If you had to evaluate the viewership of advertising and viewership of content on TV that falls only Sam, if I'm not wrong, by less than his attention doesn't go down. Right? It holds attention for far longer as a medium versus something which is a lean in medium which is digital. Right? Now it's a classical example. Let me kind of give you the trick. These are two things that I searched yesterday. Right? So the biggest search engine is not Google. It's not even Amazon. The biggest search engine is your mind. And that's the most precious real estate for an advertiser. Now only after my fingers type this, what came across, what I typed sx I'll choose, you got a full list. And you won't wonder on the sx brand manager's dashboard, this would be attributed to digital. I come from a farming state, Punjab. Right? So the farming analogies are very real to me. Digital does the harvesting job really well. So all the bits that Sam talked about long term, you've got to show the, you've got to plow the field. You've got to water the plants. You've got to put in the seed. And then you can harvest. So digital does the harvesting job really well but not necessarily you can't go on harvesting without sowing. Right? It has a role but it can't do, that is the real reason why it can't do long term brand building. But when both mediums come together, you are doing an equal good measure sowing and harvesting, you have a good crop. Right? Also I think mass reach is not possible. Let me demonstrate two small, small events that you would remember. This is 2008. Can you imagine IPL leave apart the brands being built on it? Right? That I might have a debate. But IPL being built without television. It provided a communal viewing experience not only to the 20, 30,000 people in the stadium but the entire country viewing it together. And like I talked, there is a value to fame of all this happening simultaneously. So three consumers watching it once together versus one consumer watching it three times is not the same. Maths doesn't add up. There is great value. Why impact is paid for? There is great value in aggregation and delivering a large sense of communal experience together. These are things that we'll remember. Right? At least those who are old enough. I would bet 22nd January wouldn't have happened without these events happening on TV. Yeah? The other important piece is it's a powerful signaling moment, signaling medium. When I talked about we are dealing with human beings, the big piece is not just the message, the big piece is trust. Do I take a message, multiply it with trust and then take the decision. And TV, because of the scale, builds trust. TV talks in terms of it's popular. If it's on TV, it's popular. Right? Oppo launched in this country just to achieve status, scale. They went on some of the biggest impact properties in the country. Right? They are not stupid. You are a successful brand because you are on television. Dealers talk in terms of that look, if the company is investing and putting a bet behind being on television, I think it must be worth my investing my money into it. Right? It talks greatly about financial strength. And it talks about that if you are advertising on air and you are putting a costly signal out there, you must have some quality. Right? Those signals are very, very important. And therefore it builds great amount of trust. Okay? So that's all that I had to kind of share in terms of the why of... Sam talked in terms of some of the metrics in terms of delivering great attention, delivering great amount of audience, fame, distribution and why large advertisers are there. I've just tried to step back and see from the latest science point of view as to why these things happen. Because we are not in the business of delivering messages. We are in the business of delivering lodging memories into people's brains. So that when they are in the market, they can take a decision. We are in the business of building trust with people rather than just delivering features and benefits. We are in the business of making sure that the retrieval of emotions, retrieval of messages, retrieval of you being the solution happens far more frequently and far more conveniently when our mental availability and physical availability both become together. Right? Thanks.