IMPACT Annv Spl: MG Parameswaran on brand development
MG Parameswaran Executive & CEO, Draftfcb Ulka, Mumbai elucidates on the seven key aspects on brand development in the new environment.
The latest Census tells us something we have been suspecting for long. The population growth of the country is slowing down, clearly indicating that Indian families want to be prosperous, and if that means lesser kids, so be it. With the economic growth set to be close to 9 per cent for the next decade, we can expect all sectors to grow, and several segments of the market to grow even more rapidly. As the earning capacity of the upper and middle classes increases, their income surpluses will grow and with it the appetite for new products and services. If the last seven years were the years of the mobile phone, the next seven years could be the years of the digital Indian or the globe-trotting Indian, or the car [Nano]-owning Indian.
What would this mean to the brand that is in the mass market? And for those appealing to niche segments?
As a new class of Indians are going to enter the market, the young Indian who has grown up during the liberalisation era, the woman who now wants to do more, and a family that is becoming more and more nuclear. These new Indians will be more urban, more literate and progressively more digital, throwing up new challenges for marketing. Add to that increased competition, knowledgeable consumers and widening media choices, our jobs just got a lot more difficult, challenging and therefore even more exciting.
So what are the seven key aspects of brand development?
The first mantra is innovation. Brands have to constantly innovate. These could be significant innovations involving new technologies, or could be smaller marketing innovations involving packaging and pricing strategies. But innovate, you have to. Just a clever new ad campaign may not do the trick.
Secondly, to address the Indian market better, you need to learn to segment. India may be one country, but it is not one market; brands need to understand how to segment this market: by geography, by town class, by language, by SEC, by shopping habits, by retail formats, by usage occasions, etc. Through better focus on segments, brands can become stronger and build their franchise, cost-effectively.
Thirdly, brands need to connect better with consumers. This does not necessarily mean that you need a Facebook account and a Twitter feed. But the consumer out there is changing rapidly, brands need to be out there talking to consumers and having their hands on the pulse of the consumer. Given the growth of various segments and market dynamics, this is a lot tougher that we can imagine.
Fourthly, brands need to be refreshed at regular intervals. With the influx of new brands, new extensions and new variants, the frequency of brand refresh needs serious review. Many FMCG brands have operated on a once-in-three year refresh model. That may not be valid anymore.
Fifth, brands need to go beyond mass media, television and print. The digital medium is opening up in India, especially with the flood of cheaper web-enabled mobile devices, surfing habits will change dramatically. The primary use of Internet will change from email to information search and recommendation systems. Brands have to find out ways of reaching out to consumers when they are on active search mode. Further, brands need to see how to meet customers in the new melas of India, the shopping malls.
Sixth, brands have to keep in mind the value paradigm that operates in India. Even a Mercedes Benz customer picks a diesel version. The richest of rich homes still buy pouch milk and sell the waste paper for money. Brands will have to understand how different segments react to pricing, in different situations. The pricing paradigm may not be the same in all markets, but Indian consumers will not abandon the value focus any time soon.
Seventh, successful brands cannot forget what made them successful. There is a need to keep the Brand DNA in mind as the above six steps are undertaken. Consumers come to brands because they offer a sense of familiarity, a badge of trust and a guarantee of delivery. Those cannot be abandoned at the altar of change.
As Prof Kevin Lane Keller observes, “Brands take on unique, personal meanings to consumers that facilitate their day-to-day activities and enrich their lives. As consumers’ lives become more complicated, rushed and time-starved, the ability of a brand to simplify decision-making and reduce risk is invaluable”.
(MG Parameswaran is Executive & Chief Executive Officer at Draftfcb Ulka, Mumbai.)
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The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more
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The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.
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ShareSwapan Seth's new book 'COOL' is out
The book is a reflection of the author's 'eclectic taste across categories'
Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."
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COOL has been published by Simon & Schuster India and is available on Amazon.
Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.
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Disney Star signs 9 sponsors for Asia Cup PAK
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board
e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.
According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.
As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.
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Sorted 360 wins creative & social media mandate of Reliance Mall
The agency will manage offline and online campaigns for Reliance Mall
Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.
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“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.
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KlugKlug onboards Hemang Mehta as Country Manager for Indias
Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments
KlugKlug has appointed Hemang Mehta as its Country Manager for India.
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Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.
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Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."
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