Graduate from being a product to a brand to an experience. It relies on the ability to catch a trend at the outset and leverage it into an opportunity.
Advertising has evolved into the role of demand generation beyond its initial purpose of informing. The difference between aspiration and the income to achieve it creates premium demand, advertising is key to that.
The factors of success of one business cannot be applied to another even if they belong to the same category. Be clear about what differentiates the brand and focus on creating fans. The consumer looks to an Indian experience which is also progressive.
Keep the consumer at the center of the business strategy and deliver using technology, design, variety, advertising, and retailing. Standing up to the needs of the customer in a changing marketplace results leads to success.
In a closed market, differentiation depends on fewer parameters. In an open market, being a multi-brand is advantageous as you can reach different segments of consumers. The key, as always, is consumer centricity.
Leveraging the essence of brand ambassadors, rather than their face, works with consumers. Using stories to convey the message instead of a celebrity showcasing a brand leaves a more lasting impression.
Today's Indian consumer in lifestyle categories looks for modernity while continuing tradition. Women outnumber men as buyers in most of these segments.
(Bhaskar Bhat, Titan)
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