Indian companies – ISPs, Banks, Consumer Products, etc known for their arrogance towards consumers are finding it increasingly difficult to accept the new age media [Internet and Mobile], mostly because these companies don’t have the courtesy to acknowledge customers problems and willing to learn from them.
Few days ago, one of the victims of this new media campaign was ICICI Bank. I don’t have to tell you how good ICICI’s customer care is and encashing on this poor state of affairs in the company, some broker/s brokers probably made a quick buck by circulating SMS messages which landed on SMS sharing website SMSGupShup for wider circulation. MarketBhavishya a financial blog acted as catalyst according to FIR and the result was ICICI Bank shares tanked more than 25% in intra-day trading.
Not too long ago, I had written about another company Gremach Infrastructure suing Toxic Writer an anonymous blogger who tried to expose something related to Gremach’s activities in Africa, but his blog was shut down by a Court Order.
What has happend in India is most consumers had to adjust to the “Chalta Hey” attitude in the past, because of limited resources to fight against the Monsters. However, with Mobile and Internet in the hands of frustrated consumer, Companies and Big Brands reputation can be wiped out in matter of few hours to days 🙂
Personally, I am a strong advocate of Free Speech and would love to see more and more consumers venting their frustration out on the Web against Big Companies / Brands as this is the only way to teach a lesson since we all know how efficient Governments in India are 🙂
great post dude!Really influential.keep it up.