‘The market is no longer about competition’
The day-long seminar ‘Speed to market’, held in the Capital on August 24, saw speakers discuss some of the challenges that a changing market scenario faces today. The seminar was presented by Agencyfaqs.com, in association with Dainik Jagran and Hughes.
Consumers’ speed to acquire market-related knowledge, change in perception and taste tend to guide, marketing, advertising and sales decision. At a one-day seminar on ‘Speed to market’, speakers discussed some of the challenges that a changing market scenario faces today. The seminar was presented by Agencyfaqs.com, in association with Dainik Jagran and Hughes.
Speakers were of the general consensus that one of the challenges that marketers face today is anticipating consumer trends. The market is no longer about competition, but is recognised as a dynamic world and the consumer today is faster than the market.
Citing the example of mobile handsets, Lloyd Mathias, Director-Marketing, Motorola, said, “Five years ago, only conventional handsets were used. But now, 85 per cent of the first time buyers go for colour phones, while 40 per cent go for colour FM handsets and 25 per cent opt for colour FM handsets with camera feature. It is important to understand needs and be the first in the market.”
Sanjay Kapoor, MD, Genesis Colours, which owns the brand Satya Paul, stressed that for the fashion industry, direction is more important than speed. “There is the need for speed because Indian consumers are more fashionable and more aware of the global fashion trends. While women consumers are getting fashion conscious, consumers in general are getting spoilt for choice; new trends are visible every three months. Demand for new products swells quickly and vanish quickly,” he said.
Anisha Motwani, Director-Marketing, General Motors, spoke on the growth of the vehicle market in India. “Variants are coming in at a rapid pace to satisfy consumer needs and innovative ways are being implemented to make a buzz.” Citing examples, Motwani said that there is a 200 per cent growth in vehicle manufacturing. While earlier there were only two manufacturers in the vehicle market, now there are 22. Earlier, there were just two car models, now there are 72 models. At present, there are 50 lakh vehicles in Delhi alone.
“Companies are paying too much attention to short-term performance vehicles, with heavy investments in price promotions and under-investment in the long-term health of brands. Brands are declining fast and the traditional curve of brand life has changed. The whole phenomenon is moving towards feature-based advertising. All marketers need to have experimentation budgets, try and do differently, need to hear the consumer voice, take their opinion and even depend on consumer-generated advertising, while using word-of-mouth. Retaining the brand royalty is getting difficult, which has to be compensated by rewarding customers,” Motwani elaborated.
Rajjat Barjatya, MD, Rajshri.com, said that films are distributed more widely and much faster than before as a result of pressure of current market dynamics. There is also the pressure of unabated piracy, which makes a loss of 50 per cent per film. Increased investments in the business and talent war leading to increase production costs are other challenges. There is also a shrinking attention span as there are more avenues to spend time and money.
He added that the industry reacted to this by dramatically increasing the speed for films to reach audiences, while the duration of films are getting shorter. Digital theatrical distribution and online distribution have become the norm, and similar trends are being observed in the TV and music industry, with in-script placement of advertisements and proactive plan for the content.
Santosh Desai, MD and CEO, Future Brands, stressed on the need to move to intangible brands like servicing brands. Anup Jain, Director-Marketing, Pizza Hut, said, “In the business of casual dining, we need to be dynamic. Initially we launched two-three new products each year, but now we upgrade our menu every three months, or we tend to lose customers. Launching new products also mean changing the look of the restaurant, menu cards, uniforms of staff, etc.”
Other speakers at the seminar were Ashish Despande, Founder Director, Elephant Strategy And Design; Amit Kumar, VP-Strategic Planning, Mudra Communications; Sonia Pall, Executive Director, ACNielson; Vinay Pant, AGM-Market Research, Maruti Udyog; Vivek Khanna, Director-Marketing, Aviva Life Insurance; and Hemant Sachdev, Group Director-Brand, Airtel.
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E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur
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
With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.
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."
The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."
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.
He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.
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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.
A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.
Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.
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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.
“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.
“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.
"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."
"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."
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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.
Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy
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.
Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."
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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