Marketing mantras for new consumer
Tamar Kasriel of the Henley Centre identifies the trends that are likely to shape India in the future.
By INDIATIMES NEWS NETWORK |
India is a marketer's dream--a strong economy, a young population and a burgeoning middle class. Add to that, a growing exposure of consumers to technology. People have more money, but the new Indian consumer is also more pressed for time, more fickle, more individualistic, more willing to spend on himself/ herself which means that the marketer has to adapt.
Speaking at the CII marketing summit, Sam Balsara of Madison said that the crucial areas of focus as customer experience are value, convenience, entertainment and engagement.
Ajai Chowdhry, co-founder of HCL, on the other hand highlighted that the Indian consumer clearly engages with the technological environment with a significant level of sophistication. He is becoming increasingly tech-savvy and able to discuss new technologies in detail. However, the challenge for brands in this environment will be to engage, not only with the Indian consumer’s evident IQ in the area, but also to appeal to their emotional intelligence-allowing a real relationship between the consumer and brand to develop.
Vinita Bali, managing director, Britannia Industries, however, felt that while there was no doubt that a brave new world was emerging in urban India, the rural cousins who have grown up in different circumstances have to be given due importance. She said, "even though the gap between rural and urban communities may be closing, but marketers need to make a real investment in understanding the disparities that still exist".
Speaking at the CII marketing summit, Sam Balsara of Madison said that the crucial areas of focus as customer experience are value, convenience, entertainment and engagement.
Ajai Chowdhry, co-founder of HCL, on the other hand highlighted that the Indian consumer clearly engages with the technological environment with a significant level of sophistication. He is becoming increasingly tech-savvy and able to discuss new technologies in detail. However, the challenge for brands in this environment will be to engage, not only with the Indian consumer’s evident IQ in the area, but also to appeal to their emotional intelligence-allowing a real relationship between the consumer and brand to develop.
Vinita Bali, managing director, Britannia Industries, however, felt that while there was no doubt that a brave new world was emerging in urban India, the rural cousins who have grown up in different circumstances have to be given due importance. She said, "even though the gap between rural and urban communities may be closing, but marketers need to make a real investment in understanding the disparities that still exist".
Tamar Kasriel of global strategic marketing consultancy, the Henley Centre, identified the trends that are likely to shape India in the future. With her significant experience in consumer insight in Western markets, Kasriel noted how trends may be used differently in India. She said, “in developed markets, trends are about finding new market spaces and squeezing out every last cent from a cynical, often bored consumer base, whereas in India it will be more about connecting with consumers”. Kasriel also noted the prevalence of ‘the desire economy’ trend which captures the sense that needs and wants are blurring – people say and genuinely feel they need something when in fact they are merely expressing a want.
Is there a global Indian brand?
Piyush Pandey, CEO of Ogilvy & Mather, India said that every country stands for something. The United States stands for optimism, France for style, Germany for precision and India offers simplicity, earthiness, honesty and warmth. This spirit has the potential to be exported around the world with the proviso that if Indian brands are going to become global they need to be in our style: “We must play the game by our rules”.
Jessie Paul, had a slightly different approach to the subject. She saw there were plenty of Indian global brands to point towards but that they tended to be B2B rather than C2C. Her view was that the age of mass consumer brands is over and the future is in luxury and niche brands. Meanwhile, as India grows its B2B global brands, the country brand will be crucial as a means of risk mitigation.
Suhel Seth made the observation that, whilst India is globally well-known for many products – tea, curry, hospitality, IT- there is no great Indian brand attached to any of these. He additionally made it clear that nationality was not important to an Indian brand. No one considers Coca-Cola a ‘North American brand and “people would probably struggle to spell the Swiss town where Nestle is based”, therefore global Indian brands should focus on their discriminating feature that cannot be reproduced, rather than an overtly nationality-based brand.
Finally, Amitabh Kant, secretary ministry of tourism, said that Incredible India was a brand for India which had done very well. He echoed in some ways the words of Kamal Nath, that ‘Incredible India needs to be credible’.
Is there a global Indian brand?
Piyush Pandey, CEO of Ogilvy & Mather, India said that every country stands for something. The United States stands for optimism, France for style, Germany for precision and India offers simplicity, earthiness, honesty and warmth. This spirit has the potential to be exported around the world with the proviso that if Indian brands are going to become global they need to be in our style: “We must play the game by our rules”.
Jessie Paul, had a slightly different approach to the subject. She saw there were plenty of Indian global brands to point towards but that they tended to be B2B rather than C2C. Her view was that the age of mass consumer brands is over and the future is in luxury and niche brands. Meanwhile, as India grows its B2B global brands, the country brand will be crucial as a means of risk mitigation.
Suhel Seth made the observation that, whilst India is globally well-known for many products – tea, curry, hospitality, IT- there is no great Indian brand attached to any of these. He additionally made it clear that nationality was not important to an Indian brand. No one considers Coca-Cola a ‘North American brand and “people would probably struggle to spell the Swiss town where Nestle is based”, therefore global Indian brands should focus on their discriminating feature that cannot be reproduced, rather than an overtly nationality-based brand.
Finally, Amitabh Kant, secretary ministry of tourism, said that Incredible India was a brand for India which had done very well. He echoed in some ways the words of Kamal Nath, that ‘Incredible India needs to be credible’.
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