Pitch Exclusive: Why brands move up to emotional connect

How and when do brands move from offering functional benefits to building emotional connect? And how do they do it?

e4m by Ruchika Kumar
Published: Aug 17, 2011 1:12 PM  | 11 min read
Pitch Exclusive:  Why brands move up to emotional connect

 
A product is quickly outdated… but a brand is timeless. Thus, it takes years of hard work for a product to metamorphose into a brand and strong brands are built on intangible attributes, ones that emotionally connect with consumers. Most marketers follow a series of steps to build strong brands to move up and grab maximum consumer mind space, especially when the market is nothing short of a war between brands. Brands position on differentiated factors or USP, but it is imperative for them to convert these unique features into more meaningful benefits. And this process is termed as ‘brand laddering’- where brands progress from offering functional benefits to more abstract values and constantly seeking reconciliation with consumer need and brand value.

Definition
Professor Kevin Lane Keller, author of ‘Strategic Brand Management’, explains that over a period of time, brands undergo colossal image makeover or in simple terms their projected utility changes with time. Brands ladder up three symbolic segments: attributes, functional benefits and emotional benefits. To explain further, laddering involves the change in marketing efforts from focusing on brands to focusing on consumer. At the lower rung of the ladder, the effort is to make the customer familiar with unique features of the brand, while at the top, the emphasis is on the consumer – what she derives out of the brand.

Building relationships
Sharad Sarin, Professor of Marketing, XLRI says that there are two sides to every product – functional and emotional. Latter helps in building a relationship with the consumer. A successful example of such relationship building would be Parle G biscuits from Parle Products. Mayank Shah, Group Product Manager, Parle Products, shares its brand building journey since its inception in 1939 as Parle Glucose. When it saw threat from local manufacturers copying the product, its name was changed from Parle-Glucose to Parle G, in order to differentiate the product. The tagline then was ‘Swaad Bhare, Shakti Bhare! Parle-G’. “In 1996 a new campaign was launched at the time when Britannia was seriously looking to enter the biscuit category with Tiger. The brand had to do a bit of layering and fortify the product. Thus the campaign focused on the ingredients of the product like wheat, glucose and other things. Basically, the product benefit was shown in the commercials,” shares Shah.

Subsequently, the brand, while it earned its trust among consumers, launched ‘Value campaign’ to call itself caring, honest and trustworthy brand. Moving up the ladder, in 2001, its fun-filled campaigns started targeting kids as a separate category of TG. It also rolled out ‘Achiever’s’ and ‘Genius’ campaigns to imply that its consumers have these two qualities. Shah adds that in 2010, the brand essence reflected it as a brand loved by all and one equally irrespective of financial status. In 2011, the company has repeated its 2003 ‘Testimony’ campaign, which is based on consumers’ experience with Parle G.

Building loyalty
Similarly, Nestle Maggi Noodles has reinforced its brand promise as a healthy and dependable snack from being a quick fix packaged food, a novelty when launched in 1983. Now, since other brands have jumped into this category, such as Knorr, Sunfeast Yipee and Top Ramen, Maggi tries to rejuvenate its brand proposition on an emotional plane, which creates an attitudinal loyalty among consumers.

Thus, the primary goal of laddering is to enter the emotional necessity aspect of consumer mind space to transform star products into cash cows for the company (read BCG Matrix). This, further helps in preventing consumers from switching to rival brands. “A brand lives in the minds and hearts of customers. In an age where thousands of brands proliferate, the brands that are remembered the most are the ones that create the maximum affinity with customers at the emotional level,” shares, Shailen Soni, COO, RK Swamy BBDO (creative agency for Raymond).

At the peripheral level, every brand may seem to talk about functionality, however, as Abraham Koshy, Professor –Marketing, IIM Ahmedabad, explains, “These operate at a higher order emotional level, for instance FMCG brands use functional properties as an evidence of higher emotional connect.” That is why behemoths like HUL, Cadbury, Parle Products, Godrej, Nestle, PepsiCo, Coca Cola to name a few have been constantly revitalising their brand promise to create an emotional bonding with consumers.

Bonding on trust
Raymond for instance has transformed into a brand that offers not just quality products but an aspiration to consumers – an attitude that lends the buyer a sense of wholeness. This is reflected in its brand communication – ‘The Complete Man’. Koshy says that most brands especially high-end ones, reflect aspirational values that create desirability for owning such a product.

Aniruddha Deshmukh, President– Textiles, Raymond Limited, divulges, “At Raymond, we have always believed in connecting with the consumer beyond our products and services. As a brand, we are our consumers’ partners at important and momentous occasions of their lives, so the emotional connect becomes an integral part of our positioning.” He also shares that with Raymond, functional characteristics and differentiators continue to be the brand’s underlying foundation, while the emotional value is a re-affirmation of the faith, the consumers have on the brand at key life stages. The tagline is a direct reflection of the values of trust, excellence, quality and leadership associated with the brand.

“Today, businesses and consumers are placing increasing importance on brands. Brands give consumers a sense of identity, stimulate their senses and enrich their life experiences. People have needs to affiliate and surround themselves with things they know well, trust and aspire to be. From a customer viewpoint, a brand is a signal of quality and creates a bond of trust with the manufacturers behind them,” reiterates, Martin Roll, Business & Brand Strategist, Martin Roll Company.

According to Roll, some global brands that exemplify laddering are Coca-Cola, Harley Davidson, Chanel, IBM, Giorgio Armani, L’Oreal, Louis Vuitton and Apple. He also thinks Asian brands have very successfully leveraged their service excellence in offering customers an unparalleled brand experience. “It illustrates that Asia has a huge untapped potential to develop strong brands with strong emotional connections,” he adds.

Brand message changes with consumer culture
As any brand moves up the brand ladder; it aims at providing an emotional relevance with its consumers while undergoing image makeover. Dettol has moved beyond its imagery of antiseptic to a wholesome solutions provider for a healthy Dettol family. Similarly, Cadbury, in its initial years, was what any chocolate would be - a treat for kids. In the early ‘90s, Cadbury shifted gears to target the teens and the adult market, which was hitherto untouched. “The ‘Real Taste of Life’ campaign, positioned Dairy Milk as a chocolate that awakened the little child in every grown-up, and very soon, both teenagers and adults, were hooked on to Cadbury Dairy Milk bar. Early in the last decade, the ‘Kucch Meetha Ho Jaaye’ campaign was launched to position Cadbury Dairy Milk as the new substitute to traditional sweets that people enjoy. Moving on, Cadbury took a step further, to build a stronger emotional and cultural connect with consumers with ‘Shubh Aarambh’ and ‘Meethe mei Meetha’ campaigns. Through our campaigns, we are communicating to all those who love meetha - something sweet!” says, Chandramouli Venkatesan - Director, Snacking & Strategy, Cadbury India.

Roll suggests that all companies aspire to build brands that eventually get etched in the culture of the society and become cultural icons. But very few companies are able to achieve this iconic status, which has to be carefully planned and executed. Srinivas Murthy, Director, Marketing, Coca-Cola India, shares one such example. “While products are launched, adding emotional element to it only helps the brand connect with the consumers in their day to day life. Over the years, Sprite as a brand has become synonymous with having no nonsense, honest and cut-through attitude.” The core TG for Sprite has been youth, which has been reemphasised in its latest communication– ‘University of Freshology’.

Additionally, brand laddering requires the brand to be credible in order to sustain long-term growth and hence be able to connect with consumers on abstract values. “Moving up depends on consumer learning, technological evolution and competitive foray,” suggests Koshy. For instance, Surf Excel’s ‘Daag Achhein Hain’ campaign giving an abstract value of freedom to both mother and child - sets it apart from other detergent brands. Koshy recollects, “As a consumer, I can relate to Surf’s brand message, as when I was young, my mother would get tensed with no solution to wash stains off from my uniform!”

Case of reverse laddering
So do all brands necessarily go through a similar chain of events or does it depend on the category of the product? According to Peshwa Acharya, Senior VP, Marketing, Reliance Communication, “It is not necessarily a water-tight method or series of events. In my opinion, FMCG brands mostly talk at an emotional plane, while sectors like insurance are more functionality oriented.” On the other hand, Ajay Kakar, CMO, Financial Services, Aditya Birla Group, feels that any financial product purchase is an emotional decision wrapped around a feeling of a rational decision. He feels that a consumer buys such products owing to their trust they have in a particular financial service or bank as products here have least differentiation and complex to understand. “It’s a case of reverse laddering! Financial services are the last thing to be bought on a consumer’s mind, thus financial services appeal to your wallet through your heart and focus on ‘roti, kapda aur makaan’ in their advertising. The product is not as important as one’s trust in the corporate bank. This category is about trust – thus emotional,” he explains.

Brands need to be patient
According to Soni, emotional connections take time to build up, so it is important to stay consistent and focused in brand building, and not get carried away by fads and expedience. However, Sarin says that it is up to the consumer to accept or reject a brand. Hence, it is every brand manager’s job to track consumer behaviour and promote products, and this may sometimes backfire too. For example, Koshy refers to Tata Nano, which was projected as a low priced car creating a negative imagery of its buyer as less fortunate. The market for low-priced car is not a roaring concept in the car segment. Eventually, in a bid to regain consumer confidence, Nano had to undergo change in its communication as an aspirational product, bringing happiness to the owner in its slogan – ‘Khushiyon ki chaabi’. Hence, repositioning is an important facet of the brand’s essence but more perceptible than brand laddering, which is a gradual evolutionary process.

Moreover, Acharya points out that today, marketing and branding have become more complex, a lot depends on how big the brand is, its origin makes an impact on its movement up this ladder. He says, “Good brands have a long life, although the context of their functional and emotional benefits keeps changing, and those who try too many things at one go ,often fail.” Case in point - Dalda. Think of Dalda, one automatically visualizes a yellow can of Vanaspati. The company has made desperate rebranding attempts to carve a space in the refined oil category. Brands like Kelvinator and BPL too lost out on consumer loyalty. Hence, any brand communication should reflect brand essence. Kakar adds that banks, too, should be consistent in their communication to stay relevant. He alerts that since Mutual Fund penetration is 5 per cent, and Life Insurance only 15 per cent, brands in this sector should find a different positioning and stick to it. “Be honest and not diabetic,” he advises.

To summarize, brand laddering, overall is a process of creating committed brand advocates and die hard loyal customers that form the core users of the brand. “Of course, in this journey, the brand offerings need to remain relevant and hygiene taken care of at every step,” concludes Soni.

 

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Social Beat wins SEO mandate of Tata CLiQ tag rss

The account was won after a multi-agency pitch

e4m by sunny saini
Published: Oct 23, 2023 5:51 PM  | 2 min read
test

e4m e4m Social Beat has won the SEO mandate for Tata CLiQ, one of the fastest-growing omnichannel marketplace in India. Social Beat has been entrusted with optimizing existing content, as well as launching new, optimized category pages systematically on Tata CLiQ’s platform to scale monthly organic traffic by 2x over the next year. The account was won after a multi-agency pitch and will be serviced by Social Beat’s offices in Mumbai. 

Shishir Kataria, Director - Marketing, Tata CLiQ, “Shoppers, e-commerce or otherwise, continue to heavily rely on search and discovery throughout their shopping journey, be it engaging with the latest fashion trends or hunting for the best buys. No wonder a platform's ability to be a part of this journey organically drives significant consideration for it amongst potential shoppers. We, at Tata Cliq, are confident that Social Beat will help us develop and optimise content that is highly discoverable to grow our engagement and revenue. Our goal continues to be to drive more and more shoppers to our platform with optimised and curated products and relevant content.”  

Vikas Chawla, Co-Founder, Social Beat said, “We are thrilled to partner with Tata CLiQ in their growth journey. We aim to scale traffic to the Tata CLiQ platform manyfold over the next year. Our team of specialised SEO and Content strategists will be working closely to achieve this”

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Will OOH dazzle this festive season?

As the celebrations begin, experts tell us the trends and challenges for the OOH sector this season

e4m by sunny saini
Published: Oct 12, 2023 4:13 PM  | 3 min read
Test

Be it the flower-clad taxis in Mumbai for Made in Heaven Season 2 promotion or Zomato’s ‘kheer mangoge kheer denge’ billboards, India's OOH advertising sector has undergone substantial transformation and expansion in the recent years. Even though the medium was severely hit during the pandemic years, it has now managed to rebuild its status. Now, with the onset of the festive season, elections and the cricket world cup, OOH is expected to see more and more advertisers come on board.

Amarjeet Hudda, Chief Operating Officer, Laqshya Media Group, believes most of the clients spend a lot of money during the festive season, especially for Durga Puja, Dussehra and Diwali, targeting their customers in a festive mood. The categories that spend heavily during these months are Auto, Consumer Durables, Real Estate, Organised retail, and E-commerce. 

According to Dipankar Sanyal of Platinum Outdoor, there was a huge surge in the festive season last year, and he expects the same this year too. “Last four to five years have turbulent for outdoor. It was picking up in 2019, but then Covid came and everything went flat for two years,” he mentioned.

According to EY-FICCI’s M&E Report 2023, OOH media grew 86 percent in 2022 to Rs 37 billion. The value includes traditional, transit and digital media, but excludes untracked unorganised OOH media such as wall paintings, billboards, ambient media, storefronts, proxy advertising.

Sharing the brand’s perspective, Shivam Ranjan, Head of Marketing, Motorola-APAC, said, “We are going into this festive season with a strong mix of media, including OOH. Within OOH, we are focusing on digital OOH, due to its capability of programmatic serving, measurability, and near real-time insights that allow us to be agile with the communication and optimisation of our campaigns.” 

With urbanisation, improved infrastructure, rising consumerism and an increased spending power, clients' expectations from OOH advertising too have evolved. “The clients expect better ROI on every investment, best in class innovations, tech-led planning and execution. Today, technology plays an important role starting from planning the campaign, to measuring metrics to ROI,” Singh explained.

Another trend that Sanyal has observed is that traditionally advertisers looked at spending on OOH nearly two weeks prior to the festivities, but now, most advertisers have now started advertising a week earlier so that they can get maximum eyeballs. Additionally, the digital OOH advertising (DOOH) has also emerged big. The digital OOH screens increased to around 100,000 and contributed eight percent of total segment revenues.

“Now with digital, there is more space for advertisers to come in one frame. Because of this, you can see it is getting more attractive. The innovations too are coming in at a much lower cost and creating a greater impact,” shared Sanyal.

The only challenge with the medium, according to Ranjan, is OOH being a fragmented industry with lack of measurability and agility. This becomes a serious issue for ROI-centric brands. However, the growth of DOOH, which is dynamic, agile and measurable, is giving marketers the confidence to invest in the medium backed by relevant data and outcomes. 

Adding to this, Hudda highlighted that availability of good media spots is the biggest challenge in this season as media assets are limited and demand is very high. Due to the gap in the festive season, many clients are not able to fully optimise their campaigns. Rather sometimes, clients are even compelled to divert their budget which adversely impacts the industry, he shared.

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Banking on positive consumer sentiment: BFSI optimistic on doubling festive AdEx : Cache

Some categories within the sector, however, may spend more in the quarter that follows the festive season

e4m by sunny saini
Published: Oct 11, 2023 6:10 PM  | 5 min read
banking

The BFSI sector is expecting a surge in demand for loan during the festive season and is looking at increasing its ad spends to cash in on the celebration spirit. Industry leaders say they are hopeful of witnessing a good growth in the number of applications for auto loan, home loan, credit card and health insurance during October, November and December due to positive consumer sentiment this year. However, though most of the BFSI players are planning to double their advertising budget this time compared to the previous year, there are some who are not investing too heavily on marketing during the festivals as they plan to save the money for the fourth quarter.  

According to Shailendra Singh, MD & CEO, BOB Financial, they witness incremental growth every year during the October-December quarter, and they anticipate an increase in consumer spending as well as new enrolments for cards this year too. “There remains a surge in customer demand for credit during the festive season,” said Singh. 

Singh shared that the company is fully geared up for the launch of #FestiveShoppingRewards on all Bank of Baroda credit card variants under the theme ‘Reimagine Festivities’. They would kickstart festive offerings with the start of Navratri. 

The festive season does not just see the demand for credit go up, but there is an increase in applications for health and motor insurance too during this time of the year.

Aabhinna Suresh Khare, Chief Digital & Marketing Officer, BajajCapital Ltd, shared that among insurance products, health insurance and motor insurance reign supreme during festivals. According to Khare, the demand for mutual funds and SIPs too sees a hike.

“Overall, the festive season presents an opportune moment to secure insurance coverage. A plethora of attractive products and services are on offer, with financial institutions extending special discounts and promotions to entice new customers,” said Khare. 

The company launched #BlessMeGanesha campaign during Ganesh Chaturthi. “Our goal for this festive season is not only to provide financial solutions but also to create memorable experiences and deepen the connection with our customers,” said Khare. 

Though all major sectors spend heavily on advertising during the festive season, within the BFSI sector, some categories spend more in the quarter that follows the festive season.  

Explaining the trend, Samir Sethi, Head of Brand Marketing, Policybazaar.com, said that the festive season has varying impacts on the BFSI sector. In the banking sector, for instance, the demand for loans surges as many individuals purchase items and undertake home renovations. Conversely, in the insurance category, the festive season doesn't result in significant changes. Instead, the insurance industry experiences its peak season after the festive period, particularly during the fourth quarter of the financial year. 

“As the festive season approaches, there is a noticeable increase in car sales though, leading to a surge in the demand for motor insurance. Consequently, we see a significant uptick in the requests for motor insurance policies. During the festive period, there is an upswing in demand for various categories, such as electronics. However, in the insurance sector, this period doesn't significantly affect us, so we don't run specific campaigns targeting festivals. Nevertheless, we do roll out multiple campaigns throughout the year, and some of them may coincide with the festive season,” said Sethi. 

According to the TAM AdEx report on BFSI sector across media for H1, the advertising volume of the sector grew on TV, radio and digital, but declined in the print medium. The report indicated that ad impressions on digital saw 91% rise during Jan-Jun '23 over Jan-Jun’22. The increase was 32% for radio and 4% for TV. The ad space of the BFSI sector decreased by 7% in print. 

Speaking on media mix, Singh shared that BOB Financial has a good mix of customer segments belonging to Tier I, II and III.  So, understanding their needs and preferred form of media channels, the company will reach out to them through relevant media promotions. “For the easy discovery of our offers, we shall have a dedicated offers page with regular promotion of top offers on our social media and other digital channels,” said Singh. Without disclosing the figure, Singh shared that the company’s promotion budget has surely increased from last year and it will be visible through their multi-channel promotional activities.

According to the TAM report, in the BFSI sector, life insurance is the leading category on TV and radio whereas mutual funds is the top category on digital. 

Khare highlighted that in recent times, Bajaj Capital has observed a significant growth in audiences on online platforms and the changing preferences of their clientele. “This observation led us to recalibrate our marketing approach, placing a heightened emphasis on digital avenues,” said Khare. 

He further added, “Our promotional efforts are primarily digital-focused, accentuating areas like social media engagement, search engine outreach, content-driven marketing, and targeted online advertising. As we approach the festive season, we've fine-tuned our online approach. By harnessing the insights from data analytics, we aim to grasp our clients' needs and inclinations better, ensuring our content is both tailored and pertinent.”

Khare also mentioned that Baja Capital has doubled its advertising budget compared to the previous year. 

“This increase in our ad spend signifies our confidence in the opportunities this festive season presents. This impressive surge in our budget allocation underscores our dedication to maximizing the potential of this festive season and driving significant expansion within our business. We firmly believe that this increased investment in advertising will not only elevate our brand presence but also lead to an exceptional uptick in customer engagement and sales.” 

For Policybazaar.com, the media strategy primarily involves a blend of television and digital platforms, an approach that has remained consistent in recent years and is expected to continue in the foreseeable future.

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OMD appoints Dileep Raj Singh as Head of Digital for APAC

Singh will report to Charlotte Lee, CEO of OMD APAC

e4m by exchange4media Staff
Published: Aug 26, 2023 9:02 AM  | 3 min read
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OMD has added a Head of Digital (HOD) to its Asia Pacific (APAC) regional leadership team with the hiring of Dileep Raj Singh.

Singh is a digital native and brings with him a wealth of experience across product, media agency and client side in APAC, North America and the United Kingdom. His last 10 years have been spent building diverse digital marketing teams covering areas like performance marketing, digital media planning, ad/martech, product marketing, branding and measurement.

As HOD, he will accelerate OMD’s digital leadership agenda, rooted in helping clients address their business challenges and digital ambitions. He will be supporting OMD’s local teams in APAC on operational excellence, and digital transformation frameworks and roadmaps; and the development and implementation of our digital leadership agenda. He will also be working hand in hand with both our regional and global networks to initiate complementary workstreams for our clients in APAC.

“We will continue to invest and win in digital as part of our wider goal to be our clients’ most trusted business transformation partner,” said Charlotte Lee, CEO of OMD APAC.

“It is our global ambition to continue our leadership position in digital, data and technology. In line with this ambition, we are excited to have Singh come on board the OMD APAC leadership team. His background of agency, in-house and start-up experience position him perfectly to understand and address our clients’ business needs,” added Lee.

“Digital media and access to our audience, as we know it, is changing quite rapidly around us. This puts most of us in a delicate but remarkable position, a position from which we can shape and contribute to conversations about the next evolution of digital media. As we embark on this journey, I want to leverage the strength of the OMD network – people, technology, data, tools and platforms – to help our clients pivot and navigate through all the new and evolved possibilities in digital media. With this, I aim to position OMD as an unrivaled partner for our current and future clients; to dominate and succeed in this incredibly competitive and multifarious digital realm,” said Singh.

Singh will report to Lee, and work closely with the team including Chief Strategy Officer (CSO), David McCallen, and Chief Client Officer (CCO), Sadhan Mishra, to drive and support APAC local markets as well as regional clients on digital, data and technology needs.

Mishra was promoted to CCO of OMD APAC recently in June 2023. He will continue to be CEO of OMD Singapore, a position he was promoted into last August. Mishra has been with OMD for over 13 years and in his concurrent new role as CCO, he will focus on key client relationships, understanding their business needs and ensuring we remain a critical partner on their transformation journeys.

McCallen was elevated to the role of CSO of OMD APAC in April 2022, and was previously the CSO of OMD New Zealand for five years where he helped the agency to attain the top place in the market for new business, overall billings and award wins. Since starting in the APAC role, his focus has been on connecting and elevating strategic best practices across the region, building capabilities across a range of strategic outputs, and supporting new business growth both regionally and locally.

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Chandrayaan 3: Brands over the Moon

Some of the best moment marketing posts on India's crucial lunar mission

e4m by exchange4media Staff
Published: Aug 24, 2023 2:22 PM  | 1 min read
Chandrayaan

The nation is in a celebratory mood with its moon mission Chandrayaan 3 making its smooth landing on the lunar surface on the evening of August 23, 2023. The Pragyan rover is in pursuit of discovering water on the moon and is a vital feat for India's ambitious space research. 

To celebrate this momentous episode in Indian space research history, netizens have taken to the internet to express their excitement, hopes and fears for the nation's  lunar mission. Joining them are brands who have crafted creatives to mark the historic occasion and capture the emotions of the nation who have their eyes set on the moon. Here is our pick of some of the best Chandrayaan 3-moment marketing posts.

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BCCI rakes in Rs 4670 cr in Women's Premier League team auction: Jay Shah 26 Jan

WPL has broken the inaugural auction record of Men's IPL in 2008, tweeted Shah

e4m by sunny saini
Published: Jan 26, 2023 4:21 PM  | 2 min read
women ipl

As expected, Wednesday turned out to be another historic day in Indian women's cricket with BCCI having a windfall gain of Rs 4,600 crores by auctioning five team franchises for the first season, a higher sum compared to what men’s IPL franchises offered to the cricket body during the launch in 2008.  

 Adani, IndiaWin Sports, Royal Challengers, GSW- GMR cricket and Capri Global have won the bid,   BCCI secretary Jay Shah tweeted.

Shah shared in a series of tweets, “Today is a historic day in cricket as the bidding for teams of inaugural #WPL broke the records of the inaugural Men's IPL in 2008! Congratulations to the winners as we garnered Rs.4669.99 Cr in total bid.” 

“This marks the beginning of a revolution in women's cricket and paves the way for a transformative journey ahead not only for our women cricketers but for the entire sports fraternity. The #WPL would bring necessary reforms in women's cricket and would ensure an all-encompassing ecosystem that benefits each and every stakeholder.”

“The @BCCI has named the league - Women's Premier League (WPL). Let the journey begin…”

The country's top corporates had bid aggressively for the league. Over 16 groups including IPL franchise owners, Adani group, Torrent and Haldiram were believed to be in the fray. 

Given the popularity of IPL in India, the event is touted to be a big draw for all stakeholders involved. 

The BCCI was reportedly expecting ₹4,000 crore gain through team auction.

It’s noteworthy that Viacom18 has won the Women's IPL media rights for Rs 951 crore for the next five years creating euphoria around the league whose first season will be held in March.

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