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Commodity to Brand – The Journey

Commodity to Brand – The Journey. Consumer Psyche. Today the middle class has truly emerged in India . The ever discerning consumer has very specific product requirements. Their mindset is constantly evolving , with emerging needs & lifestyle.

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Commodity to Brand – The Journey

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  1. Commodity to Brand – The Journey http://anaggh.com

  2. Consumer Psyche • Today the middle class has truly emerged in India. • The ever discerning consumer has very specific product requirements. • Their mindset is constantly evolving, with emerging needs & lifestyle. • Are well travelled, aware and quality-conscious. • Do not want to hear the virtues of a brand, they are interested in specifics • Are ready to pay a certain premium for a certain value he believes he will get. • Not price sensitive today. They want quality products and the latest technology & are not willing to compromise. http://anaggh.com

  3. Consumer Psyche (cont’d) • 21st century Indian woman is radically different from the generation that preceded her. •  Ready to take on challenges and be independent. •  Stands for innate confidence, style and taste, • Extremely aware of all products available to her today. http://anaggh.com

  4. Commodity to Brand • Challenge for any new brand is to establish itself in a cluttered environment and amongst brands that are well entrenched in the consumer’s mind. •  To be a brand, one has to focus on a clearly defined target consumer and be loyal. • The merchandise offer and brand experience have to be tailored to suit the specific aspirational needs of this TG • To create an emotional connect http://anaggh.com

  5. India I find India in a perpetual organized chaos…..but incredibly things get done amongst the craziness • World compressed in a country • More languages, caste, creed, need etc. than any other country in the world • No two people, area – even within a suburb are the same • Consumers • Diverse • Demanding • Intelligent • Value vs Luxury http://anaggh.com

  6. Commodity to Brand - Examples • Travel Examples • TGIW • 747 • Duniya Dekho • Auction • Lifestyle Luxury Retail • India 2005 -2008 http://anaggh.com

  7. TGIW – Thank God it’s Wednesday • Objective – Create a relationship & break the corporate barriers for Cox & Kings – Business Travel • Audiences – Banks, Financial Institution • Method – Sponsor a evening, invite relevant audience, interact without hard sell. • Result – The follow-up was warm http://anaggh.com

  8. 747 & Travelcard • Objective – Tap a consumer channel with innovative means to break the mind set for Outbound Travel of Cox & Kings • Audience – The Upper Middle class who had embraced cell phones, had money, needed to spend • Method – • Offer a never heard of deal for a foreign holiday – Singapore 2n/3d for 16999/- • Offer 24/7 travel services • Result – 50% jump in turnover & repeat business http://anaggh.com

  9. Duniya Dekho • Objective – create a tag line to nullify the name (British perception) & appeal to a different segment of consumers – Cox & Kings • Audience – Mass – middle class; first time travelers • Method – Name change, communication, referral • Result – Jump to the nos 2 position in Outbound http://anaggh.com

  10. Auction • Objective – Achieve Mass appeal; CSR & connect with different segment of consumers – Traveljini.com & Resnet • Audience – merge the online & offline community • Method – Multi city online & offline auction • Result – Substantial amount contributed to CRY & other charities; visitors to website doubled http://anaggh.com

  11. Bollywood & Lifestyle • Objective – Establish a quick connect between jewellery (largely commodity driven) into a Brand- Gitanjali (D’damas; Asmi; Nakshatra) • Audience – Upper Middle class with aspirations • Method – Brand Ambassadors; In Movie Placements; TV shows • Result – Immediate connect, expansion & reach that translated into increase in turnover http://anaggh.com

  12. Relationship & Lifestyle • Objective “Differentiate Damas” by offering unparallel delightful Experience with an element of surprise – “RED CARPET” • Audience – Visitors to Malls; Stores; database of adjacencies • Method – Experience The Difference with the Positioning as “You Are The Celebrity” • Result – 100% increase in footfalls http://anaggh.com

  13. Emotions & Lifestyle • Objective – Appeal to the Indian emotions • Audience – Middle class • Method – Birth date & Anniversary date offer for matching discount • Result – 300% jump in Sales across stores http://anaggh.com

  14. Take away • Demography shall be obsolete by 2009 end. • Gender, marital status, family composition, work status, become complex because of new emerging lifestyle patterns. • Target thru behavioral segmentation, and emotions rather than old methods. • World is my hometown. No longer limited to one city, country or place, the whole world is your stage & opportunities are endless. http://anaggh.com

  15. Take away (cont’d) • Borders diminish & distances become a thing of past. • Marketers need to understand this. • First listen then sell • Click the refresh button from time to time • Consumer Psyche is all about making decisions with imperfect area & incomplete information http://anaggh.com

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