Brand Buzzar

Airtel ‘Friend’, Cadbury win over marketers in 2011 - Exchange4media.com, Jan 12 2012

2012-01-12T08:00:00.000-08:00

Anisha Motwani

Director & Chief Marketing Officer,

Max New York Life Insurance

Campaign: Airtel - Har Friend Zaroori hai

In today’s Facebook generation, you can have unlimited 'friends'. This isn't the ''yeh dosti hum nahin todenge" kind of friendship. This is an acquaintance of casual utility; where every kind of friend can have his/her role. The campaign captures the true spirit of today's youth.The early morning friend, the late night saviour, the guy who throws his house open, the guys who always pile on. The ones who borrow money from you, the ones who pay for you - the list is endless. The innate truth is, we all know someone like that, and that is what makes this campaign so memorable and relatable!

Campaign: Seagram’s Imperial Blue: Men will be men

Traits peculiar to men - feeling delighted when wife is away, glancing at a woman all time are depicted very well in the commercials. Definitely brings a smile with a thought - "So true"!!!!

Campaign: Asian Paints

Based on real insight of relationship between elder and younger brother in India, the campaign exhibits the product attributes through an interesting storyline.

Campaign: Levis Jeans: It's the shape that matters not size

The campaign is an Interesting integration of functional benefit of the product (slim, curve and jeans) with the idea of liberation of women. Breaking away from age old norm of ‘big size is bad’ to ‘its shape that matters’ is intelligent.

Campaign: Super Zoo Zoo

The launch of Super Zoo Zoo with Vodafone 3 G was one of the most successful product launches of 2011. It just shows how a great idea in whatever form has such a long expendability and shelf life.

Ensure Safe Future - India Today Aspire, 22nd Jan 2012

2012-01-02T20:57:00.000-08:00

The insurance agent is not just the face of the insurance company; he is also the interface that understands the market pulse which helps in product design and even positioning
The role of the insurance agent is undermined by strong stereotypes of someone who is trying to talk you into something that you don’t want or need, someone who is there to cheat you and what not. I have my own recollections of agent uncle walking into our house always nattily dressed as if it was a uniform, chat about existing policies my father had, update on their progress, and enquire about family members and their well-being, before bringing up a new plan that will do a lot of good. His departure left my father most often thinking about his finances than he would otherwise in so much detail.
The insurance agent did play a telling role in an era when financial products were far and few and insurance agents doubled up as financial advisors owing to no exposure to financial product let along financial literacy. The role of an Insurance agent or advisor has remained the same; provide clients with insurance options that suit their needs. Traditionally most agents sold only life insurance policies, but with increasing financial complexities, individual needs and product proliferation; they sell life, health, retirement, pension and sometimes even other policies such as auto, household and accident related covers. The idea behind the success of cross-selling is the clients are already in a frame of mind to listen to the benefits of insurance products when they walk in the door. This is a great opportunity to propose other products that provide financial stability.
To many it may seem a simple task, but a lot goes before an individual becomes an agent. First, there are minimum stipulated qualifications that they need to have, next as insurers we train them on insurance, which includes them passing an agent’s qualifying examination conducted by the insurance regulator. We also train them on our product suit; understand individual’s financial status, on sales kills, techniques and strategies before they start selling under supervision before they get on their own. In my experience hardworking individuals who have the ability to perform necessary research and who have a strong background in business or finance do well selling insurance.
It is not an easy job being an insurance advisor and many would tell you that it is one of the most challenging careers you can take on. Yet, it is also a very fulfilling job which one gets to realise with time. Take for instance, the paramedics in a hospital; though it is the doctor who diagnoses the illness and prescribes a treatment, it is the nurse, the technicians and support staff who execute the advice for the patient to be cured. The agent’s role is like the soldier in a war, he is the face of the war, business in this case. A war is won by soldiers, not by generals plotting it in safe war rooms; likewise, we plot the strategy, design products and empower our agents to make successful product sales. And, the way a soldier protects our borders for us to live in peace, the insurance agent provides protection to the families of those who are insured. The fact that the insurance penetration in the country is 4.1% of the GDP is largely because of the agent’s drive to go far and wide to insure people and protect lives. It is one of the most under stated achievements of the agents; their role in providing insurance protection to millions of policyholders.
Likewise, the economic value of an insurance agent is not fully understood; imagine if you did not have insurance for a moment? In an ideal rising income economy, additional income would have gone into discretionary spending and consumption expenditure. Smart and successful agents knock on doors where consumption expenditures are rising. In fact, many families’s discretionary spending capacity probably will not yet be fully committed to new consumption expenditures, installment payments, life-style habits, or savings programs but for the agent. With his knowledge of financial products and its importance to manage future finances, insurance agents provide serious thought to consumers on the need to save and invest through life insurance. Thanks solely to the agent’s ability in making the life insurance sale; the family has the economic values in the insurance contract at its disposal rather than none.
Although, at the base lies a sales driven transaction, many agents have realised the way to grow is to expand their domain expertise and personal finance acumen. A needs analysis is the first step towards selling insurance; it is also the starting point in developing a holistic financial plan. Many agents have successfully gone into financial planning as a career by qualifying as certified financial planners (CFP) which enables them to sell a suit of financial products including insurance. While some may visualise insurance agents as those looking for a share of the wallet, they in fact help you reduce discretionary expenses and channelize it towards regular savings and investments.
Though, largely commission-based remuneration, agents have several working benefits of flexi-time and even flexi-office to suit their convenience. Many agents become successful in taking on a second career while being agents such as teaching and training. Finally, purely from the moral perspective, surely the society is better off when it is protected against risks that it faces than being exposed to risks that it cannot balance itself. Insurance agents are the catalysts that enable individuals realise the virtues of savings, investing and protecting one’s future financial needs by being friends for a lifetime and beyond. A career in insurance sales is a lot enriching, self satisfying and for the greater good of society.

Calling India all -rounders

2011-12-22T21:34:00.000-08:00

How commercial is your social

2011-12-22T21:32:00.000-08:00

Divine Opportunity towards Brand Connect

2011-10-27T03:18:00.000-07:00

Tradition and relationships have played a big role in Indian families, which marketers are using to their benefit to connect with consumers

Childhood memories are etched with family and friend during festivals celebrating the event which most often was some religious do or the other. Looking back I realize the importance of these events for not just religious and spiritual aspects, but the way it brought us all together, the bonhomie and the fun that we had on the pretext of a Dushhera or Teej. Festivals are important to Indians, be it religious such as Diwali, Eid or Christmas or cultural, such as Rakhi or even Valentine’s Day and more. Festivals are important to us because we enjoy celebrating these events which makes us forget our regional and religious differences when sharing traditions and values that makes us all come together and bask in the festivities.

From a time when one lived in a joint family, in colonies where everyone knew everyone else, festivals meant a platform for everyone to congregate, exchange wishes, seek blessings, celebrate with sweets and traditional culinary unique to each event. With nuclear families more the reality now there is also a cultural change amongst a generation that no more necessarily lives in their home towns or states which have distinct identities based on festivals and traditions. Traditional festivals have only spread geographically and it is common to come across Ganapati Puja in Gurgaon as much as it is in say Pune. And with marriages no more being the norm within the same religion or communities, festivals have taken a different meaning with more people discovering traditional festivals.

Celebrations is the root of all festivals and it is to do with the festival itself, say Eid which culminates after 30 days of fasting or Dushera which culminates with good ending the evil, are all valid cause to rejoice and have a good time. All this has led people to spend during festivals, to the extent that many will save through the year only to spend during the festivals. There are many who I come across, will buy jewelry and gold when it is Akshay Trithiya or during Dhanteras. No festival goes without new clothes and some festivals are linked to auspicious big ticket spends such as cars after the navratras or a house. Its almost like an official guilt free sanction to spend money.

Marketers have been quick to realize not just the spending potential of people, but also the business prospects that festivals bring. In fact, the way Archies created cards for every known and not so known occasions, marketers have focused brand communication around festivals. Marketers have realized the value of festivals and see benefits in targeting consumers during festivals because many of these festivals revolve around families; take for instance, the Cabury advertisement that was on air just before rakhi, it imbibed family traditions, yet was contemporary enough to subtly substitute chocolates with sweets for the occasion. The brand managed it’s connect because brands get into people’s lives as they celebrate something close to their hearts. Besides, in a festive mood, people are much more receptive to messages that reflect the emotional aspects of family ties and bonds.

While many marketers continue to offer discounts and exchange offers round festivals, the smart ones have gone beyond the transaction driven promotion and are working hard to build strong brand associations that last a lifetime. They target every member in the family from kids to grandparents and some brands realise the impact of touching the chord by associating with community festivals that provides them with the right target audience. Activities centred on the congregation sites like Diwali melas, Garbha mandals and Ganesh and Durga Puja pandals are the flavour of the season among marketers. Banners and hoardings at pandals and stalls and are initiatives that help brands build a direct emotional rapport with their consumers, which may be a lot better than using conventional branding and advertising medium. The advertising if one notices has one common theme; involve every member of the family.

The next few months are festive season for marketers, including us in the insurance business because some of the festivals consider financial exchange as auspicious and tradition. I don’t mean the card parties that many people enjoy during Diwali, but buying a new car, or a home and making new investments are all part of the Dushera-Diwali-Muhurat trading season. For us the association with festivals, especially community festivals helps immensely; for instance a stall during Durga Puja that attracted many young couples because it offered them counsel on their personal finances and they were the right target to achieve branding and sales. For a brand such as ours, it is crucial to bond with our target audience; it remains etched in their memories and connects well.

In the past insurance advertising always tended to be morbid, but with time people have realized the benefits of focusing on the various occasions when the family is together and the importance of life. You find, communication is more to do with the role of the financial product during one’s lifetime than after it these days. Family values during festivals form a great opportunity for us to stress the importance of insurance.

As long as festivals are there, marketers will use every opportunity to tap into the emotional chord of Indians to emphasise the virtues of their products and services.

Make the Right Choice

2011-09-22T20:34:00.000-07:00

Life insurance policies serve various objectives; they are flexible and can be mould as per ones need and convenience to suite multiple requirements; know when term plans work and when to look for savings linked plans

Someone rightly said choices are the hinges of destiny; and making a choice is not an easy task, especially when it amounts to selecting from the best available options. Mention life insurance and images of protection, savings, investment, and pension, besides tax savings conjure. Life insurance is a very important and flexible financial instrument which helps us protect the financial future of our dependents and at the same time save and invest for our own future needs. The first rule of life insurance is to definitely take a policy when one has financial dependents, and all types of life insurance policies provide for death cover.

The various types of life insurance policies available make policy selection to address protection needs alone or savings a daunting task. Moreover, there are policies that exist to address the different financial risks that one is exposed to in life during different stages in life. All this makes the case for one to have an insurance portfolio that addresses different needs at different times. For instance, a single person most often has no financial dependents and has little financial risks compared to a married man with children or a couple with financially dependent parents. Likewise someone in their 50s having taken care of their financial commitments will be looking forward to their life in retirement and little insurance cover.

There is a kind of life insurance policy that focuses only on covering financial risk, protecting one’s financial dependents in case of contingencies. Term insurance is low cost, high value insurance wherein one is insured only against the risk of death and facilitates one to be always adequately insured. Term plans are also useful when anyone takes on additional financial liabilities such as a loan to fund a house for a long period of time. In such circumstances, the term plan acts as a hedge against life’s uncertainties providing insurance cover equivalent to the loan amount and not impact the insured’s dependents were he to die during the loan repayment. Youngsters and those with high insurance needs should always look at term plans in their insurance portfolios. Whole life policies are another variant which provides an opportunity for risk cover through out ones life as well as help in building cash value as a legacy.

There are also insurance plans that address savings and growth by going beyond the death cover which aids the insured achieve their financial goals. Return-linked plans have a savings component besides protection, which is of great value to the policyholder in the long run. For example, return-linked policies are of immense help to achieve long-term financial goals such as the higher education needs of children which are 15-18 years away or building a retirement corpus which is 25-30 years away. In return-linked plans one makes periodic premium payments over several years which benefit from averaging, gain from the power of compounding and ride over various market cycles making them an ideal tool for long-term wealth creation. Such policies also offer choice of investments across equity and debt enabling the policyholder to match the savings plan that best meets his risk profile.

We live in an era of extreme unpredictability coupled with changing lifestyle owing to economic growth. Such development makes insurance needs dynamic and one should review and re-assess one’s insurance needs every time there is a significant change in lifestyle and finances. Doing so will ensure that one can maintain the same standard of living in the future and also ensure that dependents do not have to make any financial compromises in the future. It is in this context that the flexibility offered by insurance policies addresses the need for only risk cover as well as returns for every stage in life.

The ABC of Branding

2011-09-09T03:22:00.000-07:00

To understand the importance of branding imagine the possible scenario of a shop shelf with similar looking or faceless packs. Cars on the road with no marquee or the names proudly displayed. People do use a particular category to make a statement i.e a flat tv is more preferable than a normal tv and a plasma tv is more premium than a flat tv. But a Sony makes a statement which is different than a Weston.
Turning a product in to a brand require incremental efforts. This incremental effort is worth the effort because it is the brand that adds significant value when it is well recognized and evokes positive associations in the minds of the consumer, besides of course commanding additional price premium.
A brand is inextricably woven into consumer's daily life and routine and that’s why it should be easy to comprehend and stand for something simple; one thing. But how does a brand develop this consistent, repeatable positive association with the consumer? What is it that prompts customers to buy different products from the same brand? It is because brands create values and associations which are much above the product category. The most common example of a brand that transcends categories is TATA. Is there any product or service that this brand cannot venture into?
The process of creating enduring brands can be as simple as ABC by including three simple principles in your brand strategy.

Make your brand AUTHENTIC:
The measure of a successful brand so often depends on whether it comes across as honest and genuine in the eyes of the consumer. Overloaded by sales pitches, consumers toady are gravitating toward brands that they sense are true and genuine.
In an increasingly glitzy world of spun messages and manipulated experiences -where nearly everything we encounter is created to drive consumption - elevating a brand above the fray requires genuine creativity and discipline.
Hunger for the authentic is all around us. You can see it in the way millions are drawn to mission-driven products like Khadi. Fab India ‘s success emantes from here.
Authenticity is becoming an increasingly important point of leverage for brands that recognise and moreover respect their stakeholders. To maintain its integrity, a brand must remain true to its values. And yet, to be relevant - or cool - a brand must be as dynamic as change itself. An authentic brand reconciles those two conflicting impulses, finding ways to be original within the context of its history. At a human level, Mother Theresa and Mahatma Gandhi are examples where authenticity, honesty and integrity merge.
But we know lots of brands can look authentic, and not be. Their identities are created to intentionally portray authenticity, while not being truthful at all. And then there are the brands where authenticity is at the core of their existence. Amul & TATA are two great examples as both brands command respect due to their heritage and history of authentic product delivery, yet always come across as contemporary by remaining relevant.

Make your brand promise B ELIEVABLE:
The goal of any brand positioning exercise is to develop a unique, compelling and believable brand promise.
Believable brand positioning is based on compelling truths or pillars. The most respected brands are those that live their values and not just promote them.
Hyperbole has a legitimate place in the world of advertising but not all hyperbolism fares equally well. How often have we seen superlative claims that exaggerate to a point of absurdity - World’s most comfortable shoe brand used by 9 out of 10 film stars, etc. You are left wondering at the audacity and bravado of the claim. So even if the product is genuinely good, you tend to write it off as the claim is impossible to believe and relate to. So to make the brand believable, it is important that the story the brand tells through its action always aligns with the story it tells through its communication.
Financial brands have been viewed with suspicion due to the economic environment; however Max New York Life hasn’t had any believability issues. This is not because it has done anything unique, but because of the way it has behaved, functioned and interacted with it’s customers.

Drive CREATIVITY in Brands:
Everyone talks about creativity and its crucial role in enabling brands to grow and achieve success. But how can we make it happen? The trick is to make your brand interesting and exciting by doing little things all the time.
In the world of creativity, consumers control the dialogue; not the brand. This understanding simply implies that influencing consumers requires a new way of thinking. We need to get inside the consumer’s mind, understand their lives and identify the moments they will connect with various brands’ messages. Take Apple, for example. Apple simply motivates us to creativity. The company has attempted, since its inception days when it was Apple Computer, to foster a strong brand identity that’s associated with an image of creativity and now not only do consumers consider Apple creative, but the subliminal display of an Apple logo is enough to motivate them to be more creative.
Creativity creates attention for the brand. Attention is influenced by an element of surprise. It forges deeper connection and newer perspectives. When Richard Branson gets on an elephant, he understands that the media does not get too many interesting opportunities like this. In a more subtle manner, he has creatively attracted attention and excitement to add to the brand quotient of Virgin Atlantic.
A creative approach can provide an added reason to buy on top of an incentive. Most importantly, effective creativity persuades with increased conviction. It helps you get a breakthrough insight and creates a BIG IDEA.

Power Women

2011-09-09T03:12:00.000-07:00

Q. As a woman boss, what has been your learning curve vis-a-vis managing a team?
A. I believe any leadership position comes with its own set of challenges that are not just restricted to gender. As a leader it is important to listen to your team and have a democratic approach, to believe on your instinct and leverage your gut feel. You need to trust and respect your team for them to reciprocate the same. I have learned to be more collaborative and to nurture relationships within and outside the company by understanding the person’s requirements and proactively providing solutions.

Q. Do you believe that you really need to work harder than your team in order to remain ahead and lead successfully?
A. Yes. But this is not just because I am a woman. Leading by example is the best form of motivation. I want my team and employees to work hard and explore their abilities to the utmost extent. I need to be a role model for them to do the same, showing them the way so that I can build a trustful and loyal relationship with them.

Q. Do you give enough leeway to your team members so that they can weave in their personal responsibilities into their professional lives (holidays, flexi-hours, perks, medical facilities)?
A. I believe in driving personal ownership in the team. I am myself a mother, a wife as well as a consummate professional and understand the importance of family. In addition, I also understand that for any organization to be successful it is essential for the employees to feel cared for. Therefore, I try o give ample space to my team and trust them to balance both their personal and professional life with great aplomb.

Q. What do you feel are the important qualifications that you need to have in the profession?
A. To look at the overall strategic picture and think long-term
B. Being a Team player, stand by with your team and trust them to do their jobs.

Q. Being the marketing director of one of India's most sought-after insurance company, what are the landmark developments and achievements that you have been able to bring on board at Max New York Life Insurance?
I joined Max New York Life Insurance in 2007. In these five years the growth in the life insurance market has been manifold. Under my leadership MNYL has become synonymous with child life insurance. We have adopted a 360-degree marketing approach to drive the brand campaign through product launches.
We have used extensive customer insights and launched the igenius initiative. Igenius is an unique parent-child program that promotes all-round child development. This initiative is now in its second year and has already 1 lak members on Facebook.
Apart from that, products such as Max New York Life Shiksha Plus II and Max New York Life College Plan were launched to provide resources for all round development for children under all uncertain circumstances.
Today, MNYL’s brand awareness score is on an all time high of 98% as of March 2011 as compared to 89% in March 2010 placing the brand at No. 4 rank amongst all private players. This was a result of creative TV Commercials, efficient media planning, public relations initiatives which focused on key industry issues and the launch of an innovative consumer engagement platform - igenius.

Q. Do companies with women in the leadership position perform better?
An organization does not function as a social structure. A man in a leadership position has to prove himself equally as a woman. He too has to deliver. In my opinion, companies perform better when they have a clear-sighted, visionary, democratic and nurturing leader. Gender really does not matter.

Q. How do developing nations perceive women entrepreneurs/leaders?
We had Mrs Indira Gandhi as India’s Prime Minister, even when our country was termed as a ‘third-world country’. Even Sri Lanka had a woman President long before any Western country had a woman leader. So even though the West thinks that women have better opportunities, I do not completely agree to it.
However, the countries have had very less women working in the corporate arena. And they are letting go of old stereotypes. Now companies are working out strategies not only to incorporate women employees in the work force but into the boardroom as well. Other strategies include flexible working arrangements and child care policies. But there is still a lot that needs to be done.
But developing countries should not only look at the top order in the ladder. Affirmative actions in areas of women harassments in workplace should be one of the major agendas in these countries.

Q. The glass ceiling: Does it still exist?
Yes, it does but it is gradually developing cracks. The real issue is societal. Until society catches up with the advances that have taken place within companies, women have to contend with discrimination. This only increases our determination and as more and more women take up leadership positions, they would help pave way for the younger generation and the ceiling would be broken automatically.

Q. Are women CEOs/CMOs better managers? Does gender define leadership skills? As I have commented earlier, gender does not define good leadership skills. It might make a difference in terms of leadership styles.
Having said that, I do think there are some skills that a women leader brings to the table, such as:-
1. Emotional connect – Women are generally better in understanding and connecting with the softer aspects of professionalism. We read faces and undertones better where men miss the subtlety.
2. We are more collaborative in our approach which makes us great team players.
3. Our ability to balance work and personal life makes sure that we do not go overboard with anything.
4. Women are more intuitive and hence pre-empt a lot of issues.

Q. What is your leadership style? What are the factors that attribute to your success?
A. I have no particular style of functioning. I believe, that a good leader creates followers but a great leader is instrumental in creating more leaders. We need to hand over the baton of our learnings to our team members so that they can be shaped into future leaders.

Q. What are the values which influence the leadership process?
A. The values of personal integrity, hard work, perseverance, and discipline are universal and always influence the leadership process.

Q. What are the challenges associated with leading effectively in a highly competitive market?
A. Well more than challenges, I personally would like to call them learnings. Every player is present because they are good, so we need to be creative, innovative and constantly striving to do our best and stand out from the clutter.

Q. How do you deal with success and failure? Which one teaches you the most?
A. Failure is unavoidable for anyone. But I treat it as a stepping stone to success. And when I am successful – I am humbled. It makes me more determined.

Q.What are her views on:1. Passion and Commitment to work (includes hard work put in, the right spirit when facing hurdles, persistence)
A. Are absolutely necessary for a successful professional. These values make a great leader stand out among the good ones.
2. Target setting
A. Every new challenge needs specific targets whether long-term or short. Well defined goals lead to well managed outputs.
3. Vision and leadership
A. Leadership vision should substantiate change in the organization. One needs to pursue their goal with passion and commitment and inspire your colleagues and customers as well.
4. Multi-tasking
A. In the present times it is as essential as breathing. This is one of the traits which all women usually possess as they are always multitasking between their professional and personal life.
5. Conflict management (this would include issues of circumventing biases, dealing with opposition to getting promoted, lack of co-operation from colleagues you supersede).
A. Conflicts are inevitable. It is best to deal with them as soon as they crop up. I believe in trusting my team and people so that they can come to me with their troubles and we can achieve proper resolution in an open and transparent manner.

Business Today coverage on BT Most Powerful Women - The Other 25

2011-09-02T00:26:00.000-07:00

Anisha Motwani, Director and Chief Marketing Officer, Max New York Life InsuranceAnisha Motwani was responsible for several memorable and effective advertising campaigns in her 19-year career. She has worked with agencies such as Leo Burnett, Mudra Communications and McCann Erickson.Bala Deshpande, Senior MD, New Enterprise AssociatesIn 2008, Bala Deshpande left ICICI Venture to join New Enterprise Associates, or NEA, a US-based venture capital fund. A Masters in Economics and an MBA, she has worked with FMCG companies such as Bestfoods and Cadburys. NEA, which had raised a $2.5-billion global fund in January 2010, plans to allocate 15 per cent of it to investments in India.

START EARLY, RETIRE RICH

2011-08-28T21:44:00.001-07:00

START EARLY, RETIRE RICH
Those of us who still have many years to go before retiring tend to think of retirement in terms of fuzzy clichés like tending to the roses, long walks by the sea, playing golf on weekdays, pottering around the house and so on. But those staring retirement in the face invariably think of grimmer things like steep medical costs, shriveling income stream, taxes, inflation and the rising cost of living, and of whether their savings can meet all these expenses. When it comes to planning retirement, the bottom line is this: you either are in saving mode or you are in spending mode.The pre-retirement phase of life includes many financial responsibilities and goals such as building a house or providing for children’s education, besides planning your own retirement. Yet, many of us remember retirement just a few years ahead of the ‘R-day’. Arriving at how much retirement savings you should have is a tough one, but one can fairly estimate one’s needs depending on the lifestyle one maintains in retirement. It will help to prepare a budget which lists what you spend on necessities so that you know how much your monthly or annual expenditure will be in the future. Account for inflation keeping a rough estimate of 7-8 per cent inflation every year. Also, consider expenses that are bound to increase, such as medical and transport expenses. Then again, calculate the expenses that may cease to exist, such as your children’s education or repayment on a home loan.The accumulation phase, where you can save and invest for your golden years can start anytime from the day you start earning and while there are many ways that one can save; life insurance is a component that plays an important role. It is a protection tool that safeguards the interest of your financial dependents in case you die; it also helps you build a cosy retirement egg which you can utilise in your own retirement. Of course, if you start at a late age you will have to increase your savings substantially and even cut down on any superfluous expenses. Starting early will help you benefit through the power of compounding, that is, you have more time for your money to grow.The advantage with life insurance is that it instills regular savings habit which is systematic with regular payments towards premiums and offers tax benefits on savings as well as withdrawal on maturity. There is also professional money management that insurance products offer, which is far better than handling it ourselves. As you approach retirement, you need to assess how long your savings can last in retirement and lead your retired life. With increasing life expectancy we are facing a situation where our years in retirement can be as long as or more than our working years depending on when one retires.Reality is that once retirement is reached, the saving period is over. The balancing act at this point is between the desire to enjoy retirement and the fear of running out of money prematurely. The way the retirement life insurance plans are structured; you get a tax free lump sum to withdraw from your accumulated savings with the balance paid as a monthly annuity acting as a regular income stream. But there are ways to supplement this income stream; one can consider working beyond retirement which could be part time or in the immediate future make illiquid assets pay better.Research indicates majority of Indians owning a house much before they retire, the reverse mortgage facility makes the house that one owns pay a regular income stream for a fixed number of years or trough the life of the house owner. One can tactfully opt for an insurance policy in retirement which will swap the value of the house on the reverse mortgage option on the insured’s death, with the house ownership being bequeathed to the insured’s family. This way not only can one earn income from one’s house; one can also pass the house to the next generation. At the end of the day, retirement is a journey and what matters is that you get to your destination with a clear road map and make sure you enjoy the journey.

FUNtastic lessons from Zindagi Na Milegi Dubara

2011-08-26T04:59:00.000-07:00

FUNtastic lessons from Zindagi Na Milegi Dubara

The racing bulls are running full-tilt on the streets of Pamplona, scattering all-comers under horn and hoof. As they round the home stretch, we meet Abhay Deol, flying around the corner, head held high, eyes twinkling, and a ghost of a smile on his lips. Likewise, Farhan Akhtar and Hrithik Roshan also crank up the gears and, face-forward, race towards the gates.

This final sequence of the movie Zindagi Na Milegi Dubara (ZNMD) is probably one of the best metaphors for how life—personal or professional—can be lived successfully.

So what’s that all-important metaphor? It’s not that they’re running fast, and are in the right physical shape to do so. Yes, that’s important. But the key is that they are looking forward. Yes, the demons from past mistakes are always behind you. But future holds that success, the achievement that you are constantly aspiring for. So focus everything, confidently and joyously, on that prospective goal. Then the past will hold no importance, nor fear.

ZNMD has many such lessons, especially for the corporate world, if one wishes to imbibe them. One can say with quite a lot of certainty that this was definitely not Zoya Akhtar’s aim when she made this wholly entertaining movie, to reduce it training material for a corporate workshop. But we are all richer for the material it provides us, as reminders for a better way of life, professionally.

Let’s take the issue of coping with fear and anxiety for instance. We face this at all levels. And a lot of times, this is our biggest enemy in meeting our goals. Each of the three protagonists in ZNMD take turns in vehemently professing their fears—of deep-sea diving, of sky-diving, and running with the bulls. And yet, the strategy they use to overcome the fears is one we would do well to inculcate into the corporate world. (1) Acknowledge and announce the fear to those around you. (2) Give yourself no choice but to overcome it. (3) Enjoy the life-changing perspective that follows afterwards. A crucial part of the strategy is to have people around you who understand your fear, and are there in helping you overcome it, rather than ridiculing you for it or taking advantage of your fear to their own benefit. Trust and teamwork, therefore, become paramount.

ZNMD also reminds us that we’re often stuck in the past or mindlessly pursuing a distant future. In the process, we ignore the immense possibilities of the here and now. There’s a sequence after the Tomatina Festival when our heroes have left Buñol (Valencia) and are motoring along towards Pamplona (or Seville?). Katrina Kaif chases them down on a bike, just to tell Hrithik Roshan, “Mujhe afsos karna nahi aata / I don’t know how to regret.” For Hrithik, it’s a double whammy when Katrina tells him at another point in the movie, “Yes, but what if you don’t live to see 40? Live now, live for now.” It’s a turning point in self-discovery and mindfulness for Hrithik. And a reminder to us in the corporate world—that goals are good, and history can be a good teacher. But what matters is how we tackle each day, and make the most of it. When we passionately immerse ourselves in what we do today, productivity and success take care of themselves. And we enjoy the journey as much as the destination.

There is also a metamorphosis in the characters of the three protagonists as ZNMD progresses. Farhan Akhtar acknowledges the angst beneath his frivolity, and ultimately overcomes it. Abhay Deol confronts a forced circumstantial choice and reverses it. And Hrithik Roshan comes face to face with the near-farcical chase his life has become, and turns over a new leaf. In doing so, they all ably demonstrate—in different ways—the inevitability of change, and the innate ability to transform that each of us possesses. We always acknowledge that change is a constant, and yet are afraid to transform—ourselves, our circumstances, those around us, and our decisions. And yet, true progress and success lie in just that. In going beyond the comfort zone of familiarity. In recognizing what constrains us, and moving beyond them. To recall another powerful line from an altogether different movie, “It doesn’t matter that we fall. What matters is that we get up again.” (From “Batman Begins,” if you must know the movie name.)

When it comes to that, perhaps the lesson of freeing ourselves from constraints is the one we can most easily take out of ZNMD. The world offers us a plethora of options to shake off our everyday shackles, and experience real, intrinsic freedom. We don’t need to dive among the sea urchins, draw figures of eight in the sky or have near-death experiences among bovine companions. But we can still find ways to be creative, and inspire ourselves on a daily basis. With music. With games. With not being slaves to habit. With just this singular perspective, that we have this one life to make the most of. Let’s go seize it.

ET Clip - My Favorites

2011-07-27T00:47:00.000-07:00

Movies

Casablanca – Classic love triangle set against the backdrop of wartime conflict. It’s a potboiler with everything going for it - superb musical score, suspense, unforgettable characters and extremely memorable dialogues. It showcases all emotions beautifully of lost love, war, duty and sacrifice.

Hangover – it’s a mindless laugh riot that is completely over the top. Its funny line for line and plays out like a mystery of crazy incidents. You cant wait for the next scene to unfold.

Life is Beautiful – It’s a movie that touches your heart and moves you. Life is beautiful is truly beautiful. It’s a poignant story of life and love set against the backdrop of world war II. It’s a movie with a moral that tells you that “He who laughs last laughs best”.

Dabangg – This is what I call “Full on” entertainment with the desi Robinhood in full creation with mind blowing music and masti – Total Paisa Vasool.

Mughla e Azam – A classic love story told in the mist lavish manner. This is one of the biggest box office hits in Indian cinema. The film broke box office records in India when released and held the record for the highest grossing film ever

Books

Kane & Able by Jeffrey Archer – A marvelous story spanning 60 years. This brings alive multiple emotions in the struggle to build fortunes.

A Thousand Splendid Suns by Khalid Hosseini – It’s a beautiful story set against the volatile history of Afghanistan that brought out the role of educations in women’s lives.

Kite Runner by Khalid Hosseini – Ita a story of two friends from different socio – economic backdrop but forge a deep bond that transcends politics, war and economics.

The Hitchhikers guide to the Galaxy by Douglas Adams – An extraordinary trilogy that I have read twice and both the times enjoyed it as much. A wacky adventurous story that literally takes you to the end of the world.

Many Lives Many Masters by Dr. Brian Weiss – This book on past life therapy has truly given a new meaning to my life. The teachings of the masters spirit have a message for all of us and our body is just a vehicle for us while we are here.

Music

Tere Ishq Ne Nachaya by Abida Parveen - Abida Parveen sings love songs and induces spiritual estacy with her megistic voice.

Teri Deewani by Kailash Kher from the album Kailaasa – Kailash Kher has an earthy rustic voice that emanates straight from the belly to the listeners heart.

Mustt Mustt Album by Nusrat Fateh Ali Khan – I adore Nusrat Fateh Ali Khan and his music. All his Qawwalis are a benchmark as far the devotional sufi music is con cerned.

Tere Mast Mast Do Nain by Rahat Fateh Ali Khan – infact I enjoy most of Rahat’s songs. He has a vocal mastery and all his songs have great emotional power.

RD Burman – Album – Collection of forever songs – Right from Padosan to Amar Prem to Aa Gale Lag Jaa to Sholay – all his songs have an ever green quality and can never go out of vogue even for the next many generations.

2011-05-17T03:56:00.001-07:00

2011-05-17T03:56:00.000-07:00

Ambush Marketing

2011-05-05T22:49:00.001-07:00

Giving Parenting a Boost

2011-05-05T22:47:00.001-07:00

Charm Of Changing Chemistry

2011-05-05T22:42:00.000-07:00

2011-05-05T22:40:00.000-07:00

2011-05-05T03:14:00.000-07:00

2011 & Beyond: Evolving rules of Consumer Engagement

We are living in dynamic times where the consumer has high awareness levels; is more conscious of his needs and is more vocal about his rights. The advent of the Internet has made ‘consumer engagement’ undergo a sea change. This in turn has changed the rules of marketing. Consumer engagement today requires brands to be in continuous touch with customers - at any moment and on any medium. You need to drive brand affinity, capture feedback, answer questions, resolve concerns, offer need based products and solutions and win referrals. Put simply, engagement marketing and customer relationship management have to be the key pillars of your organizational marketing strategy today for both potential and existing customers.

Companies need to follow a three-pronged strategy — leverage web 2.0, undertake online reputation management and establish a strong connect between CRM and Customer Service — to ensure proactive and focused consumer engagement.

Web 2.0: The game changer
While consumer engagement was prevalent even before social media appeared on the horizon, it has now acquired a whole new dimension. Brands are increasingly using social media tools to burnish their image among existing as well as potential customers.

Around 40 percent of India’s population belongs to the age group of 25-30. With Web 2.0, it has become imperative for companies to undertake intelligent and strategic social media initiatives to proactively engage a huge base of young and tech-savvy consumers. Today, social networking tools have acquired heightened importance and are being considered as communication enablers that are widely leveraged to enhance brand image and handle consumer queries and demands real-time.

The increasing penetration of social media in the present-day scenario has made it strategic for any company to have a strong web presence. The traditional practices of capturing consumer response through personal interviews, questionnaires or consumer surveys are being steadily complemented by proactive social media engagement; tracking Facebook comments, blog posts, Tweets; creating online discussion forums, etc. To enhance their online presence, organisations should evolve digital communication strategies that channelise consumer voice towards the online space. Specific web portals need to cater to specific needs of the new-age consumers who now leverage the Internet medium like never before.

Data gathered from social media engagement offer deep insights into consumer behaviour and these analytics help companies create strategic differentiators to stay ahead of the curve. All businesses, especially consumer-centric ones, require a virtual presence with a proactive social media strategy.

Innovative online engagement marketing facilitates both direct and indirect branding among an extensive population base; creates increased affinity and awareness about the brand and products; ensures buzz marketing with existing customers becoming brand ambassadors and drives lead generation for future business.

Managing brand image in the Internet age
The seminal shift from the real to the virtual world has been challenging as well as empowering. With e-commerce dissolving geographical distances, the modes of reaching out to a diverse section of global consumers have undoubtedly increased.

Consumer opinions today can make or mar a brand’s reputation. It is now very easy for a miffed consumer to express his dissatisfaction by posting a Tweet or a blog post via a smartphone. With consumers becoming omni-present, brand management in the virtual world has become a strategic imperative for businesses globally. Prompt responses to consumer queries; swift resolutions to grievances posted online; leveraging positive feedback to drive increased consumer engagement; actions on receiving consumer feedback have become important considerations for companies to represent themselves as responsible and consumer-centric entities. Companies today need mechanisms in place to monitor consumer posts online and take actions real-time. Such proactive measures help minimise the domino effect created by negative feedbacks and help win back the customer’s trust. It also helps build positive perception about the brand and translates into increased loyalty both from existing customers as well as prospects.

Leveraging CRM for effective consumer engagement
While CRM advanced the state of marketing from a monologue to a dialogue, it was still a conversation that was driven by the company, not the customer, till a few years back. However, the marketing landscape today is radically different from what it was 10 years back. Customer attention continues to become an increasingly scarce resource. Increasingly, customers have come to take control of this situation and not only participate in conversations with brands, but control that interaction as well.

To earn higher returns on relationships, companies are required to successfully meet variegated consumer requirements. Leverage CRM to analyse and understand customer needs. Personalise solutions to suit specific customer needs and preferences of the target audience is an effective way to build brand reputation and customer loyalty. Complement your customised offerings with marketing programs that appeal to individuals in specific segments. Utilize a segmented marketing approach to customer service. A personalised experience of the brand can dramatically increase the depth of engagement with your audience. Like real human relationships, engagement grows out of a close understanding of our audience. Tie Customer Relationship Management with Customer Service to create service differentiators.

2011-04-06T00:12:00.000-07:00

The changing face of insurance marketing Over more than a decade since the category came into its own, many brands have come to spell insurance only as i-n-v-e-s-t-m-e-n-t. But for a business that’s all about mitigating life’s risks to meet life’s needs, it seems to have forgotten its own foundations in evolving, in marketing itself. Today, especially in the new regulatory environment, the most important lesson for the life insurance category is probably to go back to its basics. Sometimes it’s worth remembering that the more things change, the more they remain the same. It’s undeniably true of insurance marketing and its role in today’s changing times. Here’s how: Insurance Marketing tenet #1: Life may change, life insurance shouldn’t. From the heady, economic-high days of the early 2000s to the speed bump of 2009 and the subsequent recovery in 2010, life in India has witnessed multiple milestones from unrestrained optimism to caution to now a cautious optimism. What’s clear – and history has taught us this elsewhere many times – is that such cycles are not new, and demand that planning for security now is as important as planning for growth tomorrow. Or vice versa. It highlights the fact that insurance spells not one but three things: (1) s-a-v-i-n-g-s (2) p-r-o-t-e-c-t-i-o-n (3) i-n-v-e-s-t-m-e-n-t. It’s what customers need at all times, whether they know enough to ask for it by themselves or not. Which leads us to the next tenet. Insurance Marketing tenet #2: The more they know, the more you grow.History, a lot of times, does not repeat itself. Which is why there is a new generation of customers created almost every year that needs continuous education on how insurance enables multiple milestones in their lives. In evolving beyond their own inception stages, brands can tend to forget that just because they are a decade (or more) old, it doesn’t automatically signal that customer education is redundant. On the contrary, even older generations don’t have all the knowledge that enables them to see that insurance is a facilitator of education, sustained good health, marriage, protection after death, and every step in between. In such a scenario, and in a category that is fairly young in India, there is no legacy of knowledge that is passed on from one generation to another among customers. It becomes imperative, therefore, to ensure that brands borrow a leaf from the medical fraternity’s book, and institute a Continuing Insurance Education initiative—for themselves (i.e. their employees and agents) and, more importantly, for their customers and prospects. If the category is to help the customer see the merits of long term savings and protection, then a long term investment to educate them about their specific needs and options is crucial for brands. Insurance Marketing tenet #3: Mine the gold you have within reach.Unlike many other categories, insurance –or the actuarial business, more broadly – is based on solid business analytics. An understanding of customers, prospects and their specific needs is within the grasp of each insurance company. While the business runs and evolves on these analytics, marketing doesn’t always mine them to enhance the business. Instead of educated guesses and anecdotal reports from the field, marketing has the tools readily available to enable and enhance the entire spectrum of business decisions: from new product development to identifying key customer segments; from strategy course correction to identifying new geographies. Most importantly, business analytics can help predict overall market and consumption trends, identify gaps in customer need satisfaction, and help streamline customer education efforts. In turn, these can lead to robust lead management, high persistency yields and increased loyalty and referrals. Additionally, a direct line of communication can be established with customers—to educate them more credibly, and in a reassuring manner, about the cyclical nature of events, and the need for longer term planning and protection as a means to meet their life goals. Insurance Marketing tenet #4: The opportunity to become agents of change.Multiple social forces have collided to create both the biggest opportunity and challenge for the insurance industry. On one hand, rapid nuclearization of families has meant that the traditional advisors and preservers of wisdom are no longer as easily accessible as in the past to most families. On another hand, a burgeoning middle class has meant a seemingly limitless market opportunity that only needs to be sold to. While insurance companies have energetically pursued the latter, they have missed seeing the opportunity in the former, with the result that insurance agents are seen merely as pesky agents of sale. In reality, this is the best time to fill the gap and create trustworthy advisors who can demonstrate they have nothing but customers’ long term security and prosperity in heart. Marketing can play a crucial role in enabling this transformation by systematically training field staff on how to become agents of change. By investing in a strategic communications programme that changes agents’ mindsets first in order to educate customers about the importance of a longer term perspective. By bringing together these two stakeholders, insurance companies can go from being faceless entities to actually investing the face of the company, viz., the agents with the power and the credibility to become true partners to customers in creating and ensuring the best possible futures for themselves and their families.

2010-12-30T00:10:00.000-08:00

On Trust

“The more things change, the more they remain the same”. This proverb originally in French was attributed to the novelist Jean-Baptiste Alphonse Karr in 1849. It also appeared in GB Shaw’s Revolutionist’s Handbook in 1903. It makes me salute these wonderful writers who had a deep insight into human relationships and perhaps a lesson for all of us in business.

Trust has long been touted as the bedrock of all relationships. It is no different in business. Gaining and keeping the Customer’s trust today, this has become the most sought after virtue by corporates. More so after the turbulence that the global economy has been rocked by. Those corporates who managed to hold the customer’s trust were not abandoned and they were able to ride out the rough patch better that those who did not carry a large ‘trust’ deposit.

The key bit to understand is that trust is an elusive quality. It is intangible and it stands to reason that trust can’t be measured. Trust is a dynamic, organic value that never exists from the beginning. It is not something we can assume or take for granted. Therefore, it is not a static quality or ‘social glue’ that is available to draw upon. Trust is an emotional skill, an active cache in our lives that we build and sustain with our promises and commitments, our emotions and integrity and above all our actions.

Looking backwards, the most trusted brands were ones that were either big or had existed for a long period of time. It would not be wrong to see 2 very obvious pillars that trusted brands rested on – scale and lineage. These two important virtues seemed sufficient elements for success and eventually set up a virtuous cycle for being trusted. These were 2 cushions that were a tremendous source of comfort for firms to succeed with customers. Simplistic as it may sound, if you are big and had been there long enough, you can be trusted. It was called experience.

These companies built large trust deposits by keeping promises made to customers. They continuously were conscious of their credibility and accountability. That was the key to acceptance for new customers and for existing customers to continue their patronage. Trust was an importance constituent of loyalty.

The citadel of trust works when it is not challenged. Surprisingly, one could blame the most liberating of words for that erosion – choice. There is an all round erosion of trust across businesses and categories as consumers become flooded with choice and a variety of promises, some of which one finds hard to ‘trust’. Companies are struggling with new ways and means of regaining trust. Meanwhile, trust has acquired a new definition with the new age customer.

These new dimensions that have got added to the determinants of trust. The value of time, shortening business cycles and ever-thinning buffers in the business process has brought a new word in the trust lexicon – promise. Just keeping promises made to customers is not enough to today’s consumers. Keeping promises made to customers on time is the new requirement. There are numerous categories that are using that as an anchor. They cry out – consider me, for I deliver on time. In most cases, on time means fast. One can understand food and package deliveries but hospital services! There are a few hospitals in US that offer quid pro quo for your time. A city hospital has started offering cinema passes to patients who have to wait 30 minutes for emergency room services.

Transparency is another word that has joined ranks with credibility and reliability as a trust determinant. Credibility has to do with words we speak and reliability has to do with actions. But both words and actions have to become transparent and visible to consumers now.

In an environment, where all information is available in open and 24 hours through multiple sources, customer is seeking complete transparency in his dealings with the company. Transparency has the great virtue of helping recall who said what to whom. The key to creating such trust, they show, is communication, a willingness to bring an uncomfortable subject into the open. At one level, the customer seeks disclosure and hates to be surprised with a piece of information which tells him or her that there was a gap in the decision process. Nobody like to be taken for a ride!

If ‘size’ for a corporation is no longer a guarantee for trust, then what is? Perhaps, being a “Connected Corporation” is the answer. A Connected Corporation with its permeable boundaries and complex web of links to other people and organizations, places great emphasis on establishment of relationships and of a highly collaborative approach to business. People trust companies they perceive to be part of local community and culture. The key would be for corporates to widen the river-bed of the reality they operate in. Narrow profit-taking and focus may be good for building up momentum and creating a growth trajectory. Let us not forget that the most fertile and productive regions are where the river overflows its banks and creates flood plains.

2010-08-14T22:49:00.000-07:00

Ambush marketing does not really help brands
Ambush marketing always causes many chuckles down the aisles, very often its pure self flagellation, in most of the cases its one marketing team taking potshots at another, the consumer doesn’t necessarily a strong focus. Building a brand on the other hand is a full time continuous, long term journey. Let’s look at some of the main parameters that are important in building a brand and evaluate how ambush marketing stacks up.

Consumer at the core: Ambush marketing usually builds on environmental context or a marketing initiative of competition. An insight which needs to be at the core of any communication very often suffers. The cola wars have been in existence for a fairly long period of time but the juggernaut of Coke continues to move on. If its not environment then it’s the executional idea that is the spring board.

Brand consistency: The linkages with the brand idea therefore become very difficult and opportunistic. The messaging a brand imparts usually radiates from its essence – the heart and soul of the brand. It stays consistent over a long period of time to cement the relationship with consumers. When a brand ambushes – the otherwise well preached theorems of marketing take a back seat. Every brand ideally has a different make-up, Vis a Vis its competition. If we indulge in pot-shots at another the signals sort of merge. (Realism one thought was at the core of Dove, pray, what is the link with Mystery?)

Long term: Building a brand requires a long term vision with relevant short-term milestones. There are big variable factors like changing consumer habits, product changes, and regulatory changes to name a few. These are complex variables by themselves. Ambush marketing creates diversions that can put drive a plan awry. It can undo the concerted planned efforts of your own brand and also divert large sums of investments.

A sound marketing plan needs to and will build in probable competitive activity. It needs to factor in multiple scenarios. When you have a response factored in the response (ambush) doesn’t bother. So it’s possible to plan in advance.
As in warfare ambush/ guerilla warfare is the recourse of the upstart. Not the ruler. The ruler always has a plan. At best Ambush can be a tactical initiative. A series of tactical initiatives cannot be a full-blown strategy. In the end there is no replacement to sticking to a plan.

2010-06-11T20:14:00.000-07:00

The 3Fs of Marketing
It’s not a cuss word.
Ps have existed in the lexicon of marketers of our generation. Even though through the years the numerical have increased, the last number I remember proposed by a venerable writer was 7! What’s the fixation with the alphabet P!
Today’s environment is questioning all known tenets of marketing principles. Whether it’s the ever-changing consumer or ever-changing environment. The internet has been a significant inflection point as it enables the rapid dissemination of ideas and development of products around the globe. In effect, it acts to shorten the life cycle in many categories. Products emerge, surge, diffuse and are purged. With changing consumer tastes and preferences, some products become popular relatively quickly but are also loosing popularity dramatically and are replaced by the next best promise.
All this has led to the product lifecycle curve becoming steeper today than ever before, indicating that an increasingly large proportion of sale occurs soon after the launch of the product. A narrow window of opportunity occurs to earn profits on a new product before competition catches up and margins begin to shrink.
But with technological advances, the quality of products is improving greatly, resulting in an interesting paradox for marketers- while the products are lasting longer, the time in which they are outmoded is growing shorter.
And this brings us to the topic
In these times of fast change, it is important that we accept the relevance of the new paradigms of Marketing. The first step towards understanding the change is to rethink the rules of marketing. And it all begins with symbolism which in this case is nomenclature. Hence the Fs in Marketing.
The 3Fs of Marketing : Form, Function and Flexibility.
Form
The fact is that quantum change in technology and innovation is not as frequent a success as marketers would want it to be. However, the manner in which we invite consumers to consume categories is very important. The ipod is not just another mp3 player, notice the simple difference the colour of the earphone wires makes to the perception of the category! The car industry is perhaps one of the most prominent examples of the criticality of form. One base gives birth to many models. And in case you thought its just limited to physical products, it is true even for services and “formless” products such as life insurance. Ergo: the child plan category; at the base of this is an endowment or ULIP based product but the form in which it is served is what makes the difference. Form drives desire. A focused investigation into the form that we serve our product in or service is a critical initiative.
Function
Consumer expectations of a product category and use of a category is fast changing. The application and use of a product can serve, changes. Just about a decade ago those bulky mobile instruments could only be used for phone calls and SMSs. Today’s sleek mobile phone is an enabler of life on move – phone, sms, e-mails, music, photographs, videos, address book and even networking. This change in ‘Function’ has not only changed the way mobile instruments brands are being positioned but will also change the ways digital cameras, computers and brands in many other categories need to look at their life cycle.
The consumer is normally pretty clever in discovering the true function a product or service has in his or her life.
Flexibility
Expectations, objectives and goals have a contrarian occurrence. Long term vs. Quarter term. Immediate benefit vs. long term goodness. Efficacy vs. harshness. Environments can change extremely fast. Add to this a consumer who today has a point of view. And he expects his view to be taken seriously and impact the fortunes of the brand. There is a me within we waiting to be discovered. The digital explosion has transformed the great digital highway! A single view has the ability to multiply super –fast in a matter of hours if not minutes. Any plans that do not have the flexibility to promptly build on consumer feedback face the risk of being consigned to the past era.
High level of adaptability, in fact a proactive desire for constant change, is driving today’s consumers. Brands can be no different and they need to have flexibility in form and function to constantly meet changing consumer needs. To build a brand, marketers have to constantly peep into the minds of consumers and change the form that could bring the functionality consumers are looking for.
Gone are the days of sticking to the line! Today is the day of having a small consistent core and values which invite engagement, and consumer co-creation. And this is a monster that marketeers need to tame. Given this if not Plan Z at-least Plan F is a reality.

An ode to moms.

2010-05-08T10:34:00.001-07:00

Mom vs. best friend: A fine balance

So, have you walked on any tightropes recently? Without any balancing aids? Without a safety net? With the whole world watching your every step, and giving you free and unsolicited advice on that step and the next that you are about to take?

There is one person who goes through this daily: Mom. Especially when she has a pre-teen / teen-aged daughter. And especially of this generation. The previous generation mother was one who got married really early in life, too busy watching her kids grow up to realize she was growing old, fast. The next generation, in contrast, is one where women are not marrying until well into their late-20s and sometimes not until their 30s. And, in try trying not to grow up themselves, they will end up being old by the time their kid(s) enter(s) teenage.

That’s why the meeting of this Gen M(om) and Gen Y daughters is filled with situations and standards that are very unique. No other generation of daughters has been born and brought up in “fully” liberalized India as has the one born after 1990. Indira Gandhi, Rajiv Gandhi, V.P. Singh (and not just Nehru and Gandhi) are as much a part of the history books to them as ATMs, the internet, mobile phones, IM, FB, Twitter, KFC and pubs are an integral part of their contemporary socio-cultural fabric (and not some futuristic Asimovian scenarios).

In the smaller towns and cities, an archetype such as “Vijaya from Vizag” is trying to balance conflict between tradition and modernity, between small-town-mindedness and the globalization of opportunity.

For the affluent, big city archetype, such as Sarika from South Delhi, the job is no more enviable. Her most challenging conflict is the one between the immense freedom (and money) she easily allows her daughter and the lack of time to pay closer attention to her parenting duties.

Both Vijaya and Sarika are constantly trying to straddle the roles of best friend and mom, albeit in different ways, in completely different socio-economic strata.

In this, they’re up against a few odds. Today’s mom has to deal with her own 40-going-on-14 mindset, where she’s trying to turn the clock back on the years both for herself and to be closer to her daughter. Then there’s her daughter who’s smack in the middle of creating her own identity, shaking off constraining ties, and is especially wary of parents who want to know too much about what she’s up to.

For all this though, sometimes the lines do start to blur for those watching about which ones are friends and which ones are mother and daughter.

Together they might go to the same gym, occasionally enjoy swooning over Shahid Kapur, go to the Body Shop, shun the imported creams, preferring instead the Himalaya range of herbals and organics. They might even wear the same kind of short kurtis from Fab India or t-shirts from Bennetton (size: Medium). On holiday together, sometimes the daughter will tell Mom the importance of a certain heritage temple to India and her own identity. Other times, Mom will help the daughter unearth the fashion find of the year in the by-lanes of Coimbatore.

The thing is, this is not so much the norm as it’s probably the exception. Both of them would like to firmly draw a Laxman Rekha between the roles of mom and daughter. Because there are plenty of metaphorical Ravans on either side.

It’s highly unlikely that daughters will “friend” their mom on Facebook. Equally, a real amma would probably not be okay with a dragon tattoo on the small of her daughter’s back.

Questions abound. How short can a skirt be before it becomes too short? When does a t-shirt caption stop being funny and start being too saucy for public consumption? When does “space” become too small to be private and too large to be public? How long can Mom hold onto her (now imaginary) umbilical cord and yet not lose her daughter to the world?

Just as Mom is not going to find any gharelu nuskhe to help her out here, daughters won’t find easy answers in the latest issue of Cosmo Girl.
One thing is for sure: today’s Indian Mom is a great example of one of the toughest balancing acts. Sure, it’s not perfect. She’s swaying on the rope sometimes. She may appear to wobble occasionally. But she’s willing to tough it out. And whether she knows it now or not, her daughter, her occasional best friend, is waiting at journey’s end with this message: “My mom is my hero.

2010-04-03T05:54:00.000-07:00

India is the land of ‘jugaad’!
Jugaad retail!
In a bygone era, this was the land of Aryabhatta with the discovery of zero, satellites and Sushruta, the father of medicine and surgery. But today, put it down to the lack of time or whatever you may – it is the land of incremental improvements on the existing.
This is post-modernist reality catching up with India, I guess. Everything that had to be invented has been. But that should not deter us from exploring a bit more. One never knows what good may come of it.
Coping with need for indigenous transport solutions where none existed, rural India combined a steering wheel with 4 tyres, a diesel engine of a water pump and some used parts to fabricate the MRTS - mass rural transportation service....which when not transporting people, works like a water pump!
But the omnipresence of jugaad in our daily lives makes it inconspicuous. Modern business practices where everything is perfected to a science ends up completely missing this trick.
Take ‘Retailing’ – the word throws up pretty pictures of modern trade and swanky new shops but the thrust of this rambling is to uncover some interesting build-ons or ‘jugaad’ if you may call them on existing vending systems. The lettered world will call it ‘mash-ups’. So be it!
Calling it a vending system may be a bit of a give-away.
Take your sabzi wallah. With unerring regularity, day after day the man makes the trip from the local wholesaler to does the round of a locality. He is the ultimate CRM program front end. Knows what you like. Knows what you bought yesterday. And has brought what you asked for today. Marry the world of CDs and is there a business model lurking in the wings. Smarten the cart. Make a provision for a water-proof compartment (remember the tendency of the man to splash water on the veggies to make them look fresh) and here is a good thing going.
One has often wondered, why a powerful person like the barber is not used more often. After all, the man holds a razor to your throat ever so often. Imagine the persuasion power that he wields! Jokes apart, a barber’s shop is ideal for receiving messages. The audience is captive. Waits patiently for its turn and has nothing much to do except leaf through some magazines or watch a small TV placed high in the corner for all to have a bird’s eye view of. The radio is the substitute. Can it be the place for a non-disruptive, subliminal delivery of a brand or a social message. Let us not forget the power of the ‘nai’ in the days of yore as a carrier of messages.
What about the 3 other people who have access to your house every day? The newspaper-wallah, milk-man (dhoodh-wallah) and the dhobhi. The door opens to them willingly. Sure, they are critical to our appearance in manner of speaking. One ensures that we look right. The other ensures that we talk right and are well informed. Can they be distribution extensions for fabric care and detergents. The dhoodh-wallah is the last kilometer of a cold-chain. Distributes in a fixed time when the sun is not blazing down. Can cold chain products look at this man? Other milk products can be the first natural extension. Products packed in PET bottles, soft-drink concentrates and there could be others.
Then there is the favourite haunt of men and college kids – the chai-wallah! Idealogical and heated exchanges aside – the tea-stall remains the place where men sit and exchange views on life and the world in general. But there one sees evidence of evolution. The chai-wallah becomes the first outpost of retail / vending expansion. The counter or the shelf across which money changes hands, holds a variety of packaged products from edibles to personal care to tobacco. More often than not, the stove finds a tava which finds an egg and a parantha and is born instant food. May hold interest to the many ready to eat or heat and eat or instant food preparations. Micro mini-restaurants – are these the next wave in the foods business?
This ‘Jugaad’ spirit can find a role in the supply chain of many a business. But to do that, businesses will need to think true to the meanings of this word Jugaad. Improvisation. Inventiveness, Ingenuity. Cleverness. And taking it literally, it seems a leading soft drink company has started using ‘jugaad’ – the vehicle to spread its distribution to rural areas!
Closer home, the Samaan Foundation seems to have taken a step in this direction. Working with rickshaw pullers who now get an opportunity to increase their income by carrying advertising on the vehicles, also stocking them bottled mineral water, fruit juices, mobile phone top-ups, newspapers and magazines. The rickshaw puller gets a certain commission on the sale of every item!
It’s only a matter of time when some enterprising mind will come along and amaze us with the simplicity of his quintessential Indian ‘Jugaad’ tactic and show us a business model that always existed, right here in front of our own eyes.

You've come a long way baby!

2010-03-12T20:36:00.000-08:00

You’ve come a long way, baby!

In the early part of the 18th century, a Tamil official Tryambakayajvan compiled a formal treatise on the role of women in Indian society called Stridharmapaddhati, based on strictures dating back to the 4th century BCE. The opening verse was:

“The primary duty of women is enjoined to be of service to one's husband.”

Statistically speaking, this is probably still true of a number of Indian women, especially in rural India. But that’s to disregard not only the enormous progress She has made in all walks of life, but also disrespect the foundation of egalitarianism visible in our nation’s rich tapestry of history and heritage. The RigVeda, among other ancient texts, accords that respect to women, mentioning in many places the positions of authority and acclaim women held in politics, arts, literature and philosophy.

Fast forward to the 21st century. And whether you peel away all of its materialistic trappings or see life in its spiritual + bodily entirety, this is what you’ll hear:

“I’m woman. Hear me roar.”

Mother India may never have roared. Nor was she anything but demure, self-effacing, self-sacrificing and all about family and community. But today’s Indian woman is definitely making her voice heard, her presence felt, and her influence magnified across the country, and the world.

Indian history glitters with the names of many a great woman: Ashoka’s daughter Sanghamitra, one of the foremost evangelists of Buddhism; Razia Sultan, the only woman monarch of Delhi; Jijabai, the mother of Chatrapati Shivaji, and the foremost influence in his life; Mirabai, the greatest ever poet-saint of the Bhakti movement; the Rani of Kittur; Rani Lakshmibai of Jhansi; and more recently, such greats as Bhikaji Cama, Dr. Annie Besant, Vijayalakshmi Pandit, Aruna Asaf Ali, Sucheta Kriplani, Kasturba Gandhi, Sarojini Naidu and Durgabai Deshmukh.

What’s so special then, you ask, about today’s Indian woman? Her specialness lies not so much in the storied and the famous as it does in EveryWoman. Progress is usually measured by accomplishments. But when cultural change is rapid as it is today, achievements are mere pit stops along this journey. Pit stops that today’s woman doesn’t even feel the need to take some times.
The other big distinction of today’s woman is that, unlike man through the ages, her driving need is not an overt establishment of either equality or superiority over the opposite gender. Feminism is neither rabid nor martial. It’s a quiet but exponential progression through time, through culture, across barriers and ceilings imaginary and real.

She does not celebrate with a whoop that times have changed so much from when men used to wear skirts where now women wear the pants in the family (literally and figuratively).
She does not point a laughing finger at the men who now hunker after the fairness creams while they themselves revel in their inner beauty.
She doesn’t bask in the smugness that she literally calls the shots in the nation—in its Panchayats, in the nation’s largest state, in the nation’s capital, and at the helm of the nation’s ruling political party itself.
She doesn’t smirk with self-righteousness that men adopt her fashion sensibilities in the name of metrosexuality and other such euphemisms.

But whether she’s gently liberating her man’s straight-jacketed worldview, enabling her children’s expanded worldview, charting India Inc.’s rocketing growth path for the world to view, or just balancing it all effortlessly, there’s one other thing in her mind she’s keeping front and centre

The woods are lovely, dark and deep.But I have promises to keep,And miles to go before I sleep,And miles to go before I sleep.

Today's Indian Women Consumer

2010-03-12T20:27:00.000-08:00

Straddling Samajhdari and style: Today’s Indian women consumers

To paraphrase David Ogilvy, the moron isn’t the consumer. It’s her husband, usually. At least, when you stop and think about today’s Indian consumer landscape, that’s what you’d see. While men are counted in the Census and other studies of note as Heads of Households, the truth is that households would be like headless chicken without the women being in charge. The man surely wins the bread and brings it home. It’s the woman who decides how to slice it, how to toast it, what jam and butter to spread on it, and just how and how much to serve, and when.

But this facet of the Indian woman consumer only reflects her “dutiful” side. And the fact of the matter is that she is, in equal parts, Lalitaji and Lolita. Samajhdari she has in spades, alright. Add to that a suave and discerning eye for style. And you easily realize that as hard as Lalitaji is to fool, Lolita is that much harder to please.

And that’s the evolutionary truth that marketers have to grasp very quickly. Where Lalitaji is all about respecting traditions and discharging duty, Lolita isn’t afraid to indulge her individual self, without cost or damage to others around her. And in doing so, she’s fine-tuning her balancing act into an art that few of her contemporaries around the world can match.

Lolita takes the traditional and contemporizes it. Lalitaji takes the new into the pallu of her sari easily. And she’s able to do this because of a few unique things about her generation. She’s the first to grow up without the baggage of the Raj era. She’s grown up grooming the internet generation, and has seen all the advances first hand along the way. And she’s grown up without bottling up her own aspirations.

Most importantly, whether she’s elite class in South Delhi or by-and-large mass class in Bhatinda, there’s a mindset that unifies them all. Call her the Affluential Indian woman. She will not settle for anything less than the best that her money and time can get her. And she populate her home and her life with not just one or two but multiple things along the spectrum from traditional to contemporary. After all, she plays out multiple roles daily. Why shouldn’t her choices reflect all these roles?

From classy Kanjeevarams and Benarasi silks and the ubiquitous salwar kameez to the casually chic jeans and t-shirt, her wardrobe straddles her myriad moods and roles.

From hair oils to conditioners, from henna to streaks, from chandan and haldi to moisturizers, she grooms and preens as the occasion demands.

From whipping up dosa batter to serving up steaming pancakes with maple syrup on the side; from navratan korma to fettucini alfredo; kitchen shelves where sambar powder and garam masala rub shoulders with oregano and vinegar; from crafting exotic dishes at home to being at home in new restaurants around town. Nowhere is reverse-McDonaldization more visible than the effect that Lalitaji / Lolita have on what we eat. There’s a reason why Haldiram is as popular as Pizza Hut. It’s the same reason global food giant Frito-Lay (a PepsiCo company) proudly proclaims rajma, dal and chawal as its ingredients, alongside flavors like sour cream, jalapenos and French onion.

From upholding traditions such as Karwa Chauth and Diwali to celebrating new ones like Mother’s Day and Valentine’s Day, she has embraced diverse ways to indulge herself and the ones she loves.

And as much as non-urban women are taking to “Western” products like shampoos and fairness creams, urban women are discovering the joys of going back to the basics with organics.

The truth in all of this clearly underlines what was said at the beginning of this piece. The Indian woman consumer isn’t a moron. If anything, she’s an oxymoron. And one who is completely at peace with the many paradoxes that are her life. Lalitaji and Lolita both reside in the same person. Happily.

Trends in Insurance Marketing

2009-07-02T00:30:00.000-07:00

Over the past decade the insurance sector in India has witnessed an upsurge in advertising. With the players increasing in the Indian life insurance space it hasn’t been an easy task for marketers to differentiate and make their products stand out in the clutter. Before 2000, LIC was the only player around and life insurance offerings were limited and viewed as a tax saving necessity. Today, one has agents, banks posing as bank assurance partners, NGOs and self-help groups for rural sectors, telemarketing, direct mailing and Internet banking. Current estimates put the insurance industry’s size at about Rs 68,000 crore; using current growth rates, which have been running at roughly 120 per cent a year over the past three years, the size of the industry is expected to be around Rs 2,40,000 crore by 2010. There are all sorts of financial products, ranging from children’s plans and pension plans to endowment/ savings plans. There is a variety of customized products with riders for disability, critical illness and so on.

There is a sudden boom in advertising by insurance companies. The life insurance industry has become very competitive with numerous private players competing in the market. Customers have become discerning today even towards financial services. An average consumer can recall 3-4 brands. Hence it is very important to be visible in the target market.

The most noticeable trend is that a lot of advertisers are shifting away from brand advertising to product advertising. Secondly, the intensity in advertising is making the industry innovate and experiment with its choice of media. Also, as marketers realize the importance of engaging meaningfully with the consumers, consumer activations have begun to demand a more thoughtful approach.

Internet and Direct marketing are expected to play a big role in sales of life insurance. Digital media like the Internet and mobile would become significant in the coming years. Life insurance providers are very bullish on the use of the Internet. Along with the usual banners and pop-ups a new trend of viral marketing and games, incorporated with life insurance messages has been successful for insurance providers. Max New York Life in concert with Zapak.com used this technique to generate leads. Insurers are also using social networking sites like Facebook to popularize its insurance products. People generally have difficulty understanding insurance products. Such branded games make it simple for users to retain the key message as well as product attributes, in a fun-filled manner. It helps in getting attention of young customers in a very simple and fun way, to convince them about the need for retirement income planning right from a young age. With the growing use of digital media, such innovations work well to engage with consumers. Also to retain customers, insurers are launching customer portals that will help them to get information relating to the status of his policy, the amount of loan he can get against the policy and download forms that he requires to start another policy among others facilities. The customer would also be able to use the portal to deposit premium and details about change of address

Direct marketing also allows a more customized approach. Worldwide, insures are using more of direct marketing to target ethnic groups. New York Life set up a cultural marketing division to have better targeted communication to African-American, Asian/Indian and Chinese community. With the African American community they tried to get the agents to connect to the community. New York Life also holds seminars in neighborhood churches on topics like life insurance, annuities, long-term care and college savings plans. To date, more than 1,000 people have attended the events, which always have agents on hand to answer questions and give out materials. A Web site aimed at this segment debuted in March. The site includes an education center, where visitors can search for information based on specific life events (like a new baby, a death in the family or the start of a new business) or financial goals (such as paying for a child's education, accumulating retirement assets or managing taxes).

In India, insures use below the line activities to gain entry to a customer’s house. The marketers are pursuing mall activities, RWA activities and school activities. Activities like cooking classes in a RWA or art competitions in schools are highly popular. Tying up with retail and department chains is also common. Usually one finds an insurance kiosks in any of the retails chains. These activities generally end up yielding very good and hot leads. Insurers are also tying up with rural initiatives like Subhiksha and E-Chaupal to sell customized products to hard to reach customers. This way they get to piggyback on the extensive distribution network of the retailers and increase their reach.

The Indian market though is highly diversified, unites in believing that they are financially stable. In a recent survey by NCAER close to 90% of the people believed wrongly that their futures are secure. So the first challenge for life insurance providers in India is to evangelize the population of India to the need for insurance. As one life insurance company correctly points out “Musibatein bata ke naheen aati”.

What is your Brand's Cool Quotient?

2009-07-02T00:25:00.000-07:00

I’m of the firm belief that every marketer thinks that his or her brand is COOL irrespective of the category, the product or the TG. But we all know that’s not true.
Some brands are and others just don’t have a clue.
So which brand is really cool and who ultimately determines what is cool? The trendsetters? The marketers?
What does it take for a product or category to position itself as the ultimate arbiter of cool?
Being as cool as I am, I’m going to go out and give you my hypothesis of ultimate coolness and then it is for you to judge your brand’s COOL QUOTIENT.
But I’m not going to attempt to define it. Because as soon as you think you have defined it, it just isn’t cool anymore! Cool is not an easily definable formula-if it was every brand would be trying to harness and replicate that formula.
One just has a perception of cool. It’s meaning and demeanor goes beyond words.
You can tell when a song is cool or not. You can look at ads and shoes and tell if they are happening. Over the years you can only hope to develop a sense of cool such that you know when you see it.

COOL IS ALLUSIVE:
Attempting to capture cool is a trap. It means everything and nothing at once. Cool is allusive, mysterious and indefinable, it’s meaning perpetually shifting to accommodate individual perceptions.
A throwaway word that was once used to merely describe an individual’s cultural status (he or she is cool) or an object’s worth (this phone is cool) has acquired new dimensions.
It has evolved from the fringes of the society to the mainstream.
A grandson finds his grandfather’s cane cool, teenager finds the packaging of her multi vitamin bottle cool, and father buys stocks in a company because his grandson says it’s cool.
A term securely nestled among the larger categories like cool SUVs, cool babes, and cool gadgets has now shifted to dominate our daily lives in ways we have yet to thoughtfully consider.

COOL IS REMOTE:
Cool is exclusive, the opposite of mass. It thrives on the attitude “If your neighbors are in on it, it can’t be cool”. It’s morphed into gadgets, technology, cars, person, music, or party accessible to few but coveted by many.
This is where the new trends of individual designs, customization and personalization is getting a foothold. The minute everyone has the same gadget, you have to admit that they are no cooler than the person around.

COOL IS ANTI-CONVENTIONAL:
Cool is like pretty much telling the world that you have decided to excuse yourself from the predictable and the traditional. But here in surfaces the contradictory nature of cool.
Coolness actually follows the conventional consumer cycle of new becoming quickly obsolete and retro the most valuable commodity.
Here is why the knick knacks and hand me downs sold in trendy, junky shops are oh -so –cool. They have managed to become cool by liberating themselves from the stigma of consumerism and the tyranny of brand new.

COOL IS DYNAMIC:
The term cool seems to have originated among jazz musicians in the 1940’s. But it was only legitimized and recognized as a potent phrase in the 1950’s. The post world war 2 era captured James Dean’s rebellious image in ‘Rebel without a cause’ as the ultimate epitome of cool. The flamboyant charade of toughness and authority, the brooding virility, the studied hip ness and the ‘don’t mess with me’ poutiness stayed for long as the ultimate symbol of cool.
And since then every decade has had it’s versions of cool. But what is relevant is that even though coolness varies between generations, there are constants upon which varying compositions are based. Like ‘hip’is constant whereas variables would be evolving fads and slang.Similarly the last version of cool does not affect the previous version-each version has a life of it’s own. No style will make another style wrong and that’s what makes it dynamic and brings me back to my first point- COOL IS ALLUSIVE. So how do you begin to nail it down?

The 3 stages to love

2009-07-02T00:23:00.000-07:00

It’s Valentines and you can smell love in the air. The extended winter chill has not been able to dilute the enthusiasm of the lovebirds.
The Valentine’s Day buzz is loud and clear on college campuses, malls, hotels and clubs at least in the metropolitan cities.
St Valentine’s day has become extremely popular in India and with each passing years the euphoria only seems to increase.
Newspapers and magazines are full of stories with entire supplements devoted to the subject. From finding love on the net to youngsters learning guitar to woo their girlfriends, from extravagant gift ideas to special valentine day hotspots… media is doing it’s job of giving all possible tips and help for that perfect valentine date.
Even staid adults are being sucked in this barrage of marketing; you log into any form of media and find it full of Valentine’s Day quotes, recipes, facts and even clip art!
This article is not about questioning the trend…Valentines Day is here to stay and
as time goes by it will only percolate down to smaller cities and towns.
It’s also not about being a moral policeman and accusing western sabotage on our culture.
Valentines Day instead provides a perfect opportunity to explore the changing definition of love and romance with respect to today’s generation.

The years gone by show depth of true romance when love was against all odds, marriage next to impossible and sacrifice imminent. Modern era, newer thoughts, a shrinking globe and a broader outlook have changed the concept of love.

Living in an e-age, romance has come a long way from the days of Romeo-Juliet and our very own Laila-Majnu.Today’s generation can find love at the click of a mouse. “Love at first sight” is “Love @first site”. Anything is possible and distance certainly is not a hindrance. Love as an expression has a wider expression than ever before.
The lovers can send love quotes and lyrics with bouquets of red roses, heart shaped chocolates and balloons, specialized gifts available in every second shop or on the internet without adult or parental intervention and guidance. The place and time of delivery of gifts and flowers too is usually pre-determined and prior instructions given.
So what is missing in the love stories of this decade? Are these relationships as romantic and enduring as the traditional relationships of yesteryears?
The psychology of love clearly differentiates between “falling in love” and “being in love”.
The famous Psychologist Carl Jung said this about falling in love:
“We fall in love against our will. Our hearts suddenly go off on crazy paths of their own, leaving our cool collected minds aghast and struggling vainly to maintain law and order”.
Whereas being in love is the stage when blinders come off and love can be looked at more as a choice.
There are essentially three stages to love:
Stage1: Lust.
Stage2: Attraction.
Stage3: Attachment.
When we fall in love the first two stages are at play. But attachment is what takes over the attraction if the relationship is going to last. Attachment is the longer lasting commitment and is the bond that keeps couples together for lifetimes. This is called being in love.
Teenagers today are happily falling in love at the drop of a hat but they are also falling out of it probably at the same pace if not faster. They find the excitement and newness of the infatuation stage fun and thrilling.
They are not able to differentiate between falling and being in love. The big aspect missing in the great love stories of this decade is probably the dedication and sincerity of Romeo’s love for Juliet or his perseverance. . Relationships have become more casual and easygoing. They are mostly about fun and flirtation. Many teenagers are in fact dating as a way to fit in with the societal scene. They are just happy because they are not single and have someone to hang around with.
They find nothing wrong in a relationship that’s just based on attraction but are not ready to have deeper emotional ties.
This is what prevents relationships to graduate from the attraction to the attachment phase. The connection does not deepen to include qualities like commitment and loyalty, the cornerstone of the greatest of all great historical love stories.
Love has come a long way since the days of Laila and Majnu but the greatest ode to St. Valentines on this day would be to make the relationships long-lasting, enduring and resilient.

A marketer's view to Elections

2009-07-02T00:21:00.000-07:00

Electoral alliances and political agendas aside, there was something about the Congress campaign that caught the public imagination. Its campaign tune, ‘Jai Ho’, matching its central slogan ― ‘Aam Admi Ke Badthe Kadam, Har Kadam Par Bharat Buland’, offered optimism, inclusion, association with all.

In contrast, the Left campaign appeared to be a series of complaints and cribs. The BJP (Bharatiya Janta Party) campaign was hinged on ‘Kushal Neta, Nirnayak Sarkaar’ and focused principally on governance and security, which are not issues with which people can readily identify.

‘Aam Aadmi’ is a phrase that works each time, every time, in a country where the common man’s loudest expression of his views is the pressing of the (EVM) button. The Congress’ marketing revolved around talking to the common man about his issues in the sharpest manner possible. The result was communication which people could relate to.

The BJP, on the other hand, was present everywhere, but didn’t seem to make the right pitch to the right person. Was India looking for a neta who is strong? Yes. Does the country view the Government as crucial? Of course it does. These are things that the electorate take for granted from its leaders. But the common person identifies with the government only through knowing what the government does or would do for him or her.

Further, the ‘Majboot Neta’ rhetoric was an open invitation for the Congress to remind people of Kandahar, where Advani’s leadership was shown to be not quite strong enough.

From a marketing communications angle, it was interesting to see how, on the whole, positive messages won the day in terms of dominating the debate, even if these did not win every seat.

It is a basic tenet of brand communications that affirmation evokes a positive response. Negative campaigns rarely work, least at times of depression.

Every situation presents problems and opportunities ― in responding with solutions to those situations (which is, after all, what an election campaign purports to do), the branding exercise, consciously or inadvertently, focuses on either.

Where the Congress reminded people about opportunities seized and offered, the BJP and the Left talked about problems. The BJP offered promises but no solutions. At a time when economic crisis was at the top of everyone’s minds, such messages fell far short of expectations. It’s not surprising that the vote base for the Congress (and not just the number of seats) improved so dramatically.

It zeroed in on identifying specific target segments within its overall audience, identified issues that had immediate appeal to these segments and projected a number of credible leaders. The messaging about youthful leadership and young India was fresh, echoed a truth that everyone knows (in a country where 40 per cent of the population is below 25 yrs) and has never heard addressed by political leaders in such a focused, sincere manner.

On the other hand, there was projection of experience and effective delivery, especially in the person of Dr Manmohan Singh. The country saw ― and sees ― him as effectively proactive in dealing with the latest terrorist attack in Mumbai and addressing the issues arising from the global recession. And it is still impressed with the way he dealt with what is commonly seen as the constant carping of the Left ― patient over several differences through four years, ending with being prepared to risk losing his ‘seat’ of power rather than bowing before pressure on an issue that few people understood and most found unreasonable, faulting the Left.

Over the nuclear issue, the Nandigram and other issues, the Left took the ‘high’ road, failing to explain, and even failing to understand people’s concerns and interest. It lost its audience even before the election campaign took off.

The BJP also seems to have missed the lessons of its debacle in 2004. It remains unsure of its target audience, presuming a popular obsession with religion over livelihood, terrorism over sustainable development. Its campaign on strong leadership, governance and security, zeroed in on terrorism and insufficiently addressed development.

Projecting Narendra Modi as a future head of state would not have gone down well with the vast majority of peace loving Indians, who view him with suspicion after the Gujarat riots of 2002. No brand would want to have brand ambassadors who have a cloud of grey hanging over their heads.

Further, any publicity is not good publicity as the Varun Gandhi episode showed. Compare the BJP’s defence of Varun Gandhi’s reported speech with the Congress’ strategy of withdrawing Sajjan Kumar and Jagdish Tytler almost immediately after protests about their candidature.

After seeing itself finishing second to a young and energetic Congress for the second time in five years, it is time for some introspection for the saffron party, not least in terms of the way it marketed itself. There is no doubt that brand BJP suffered from quite a few bad marketing decisions.

Running an election campaign is about gauging the pulse of the electorate. Just like creating a great marketing campaign. The brand which has its ears to the ground always wins.

Shooting for the stars

2009-07-02T00:18:00.000-07:00

Don’t let the stars get in your eyes, don’t let the moon break your heart.

This lyrical warning sounded by an impassioned young lover to his beloved exemplifies life itself. We should be true at all times to people and ideas that we cherish in life. It is a promise and a commitment to those we hold dear. And our thoughts and actions must be in complete record, if we are to achieve our life goals.

An important area where we need to align our dreams and deeds is in the filed of personal finance. Most of you would have made some investments during the course of your working life. Are you sure they are in your absolute interest, immediate and long-term? Close to the half way mark of the financial year, take stock of your life and finances and realign your planning process to meet some of your most prized goals.

Financial planning is all about forward planning. In 2008, we have seen the best of times and the worst of times. Months after the Sensex hit a new high and a heartbreaking low, the equity market seems to have settled in a range and so have people’s nerves. You cannot look at the rear view mirror or be shortsighted by the challenges that confront the economy. If you are convinced The Wonder That Was India is now Incredible India, do not be the Cinderella who leaves her glass slipper behind at the midnight ball. When dawn comes, there may not be a Prince Charming knocking on your door and all you would be left with is the disappointment of a missed opportunity.

Life is a journey and before you embark on it, you have to finalize the destination. If you know where you are going, you can make arrangements beforehand, pack appropriately and take every step to ensure your stay is comfortable. Investment is like that. You need to decide your goals, prioritize your needs and take incremental steps to realize them. For every life goal, be it financial security, good health, child’s education or retirement, you need to book in advance.

The 5Ps of Pride and Prosperity
You want to protect your family from any eventuality, ensure a house above their heads, provide the children the best education and live your retirement years in comfort and harmony. The intention is fine but how many of you have created a roadmap to the future? What have you done to ensure a smooth journey down the uncertain path of life?

Financial Planning is the process of allocating savings to meet financial goals. Let us categorize these goals as Priorities and Pleasures. Though we are partial to the latter, our Priorities must always gain precedence, be it protection, progeny, property or pension

Protection
Every life is precious, every person irreplaceable. But things do not always go as planned. Death, disease or disability can strike without warning. You cannot be caught unprepared or without a contingency plan. Safeguarding your life and health is the smart strategy that you must set into motion at the earliest. You need to seize the moment and take the first of the many steps without any delay. Your family deserves the best at all times. You owe it to them.

Progeny
You love your children. They are your pride and joy. You want them to have the best of education and opportunities and will not spare any effort or expense to ensure they realize their full potential. You want to secure their future so they can fly free. Higher education, professional courses or unconventional careers, your children deserve every choice and chance. Money should never be an impediment in their life or in their growth. When it comes to children, nothing but the best will do. You are the only one who can make it happen.

Property
There is not a soul in the world who doesn’t want a house of one’s own. It is a dream and life goal; a big-ticket purchase that requires months of planning and years of salary. It is an exercise that requires zeal and patience and everyone who has bought a house would vouch for the satisfaction and accomplishment at the end of it. You do not have to wait a lifetime to live in your dream house. It is for you to transform an idea into an asset.

Pension
Retirement is an idea you want to implement in the thirties and reverse in the fifties. When you are young the world is for you to conquer. You live for today with no fear of tomorrow. But as more urgent needs take primacy, retirement planning is pushed to the backburner. It is not a wise thing to do. You should start planning for your retirement the day you start working so that you can reap the reward when you retire.

Pleasure
And when you have created a roadmap to the future, there will be no guilty pleasures but only dreams fulfilled. Sit back and enjoy your moments of leisure and indulge those ideas that you have been nurturing for a long time. Do what your heart desires, pander to your passions and find meaning in life. Go ahead, climb a mountain, sail the high seas, take an exotic holiday and spend a month teaching underprivileged children useful life skills.

Life Positive
Life is about following your dreams. Your happiness is as important as your responsibilities. Find a common ground and you will never have to trade one for the other. You can have it all.

The first step is to overcome the inertia and ignorance, and for some of you a fair degree of arrogance of outperforming everyone everywhere at all times. Get realistic, be smart and you will always be one step ahead of inflation, interest rates, economic cycles and euphoria. But always remember to align your portfolio to your risk profile and time horizon.

All of us desire a long life but our investment horizon is often short term. Many people keep postponing the investment process, waiting to accumulate a significant corpus before taking the first step. The point about long term investment is to get a start, even if it is a small one, allow that money to work for your and keep bumping up the amount to realize bigger goals. Remember, investment is about making life safe, meeting your life goals and maintaining your lifestyle. For a happy and happening life, your time starts now.

Lead Rural India or Bharat

2009-07-02T00:09:00.000-07:00

The great Indian demographic pyramid has been sliced and diced in many ways by researchers and social pundits, off late the surge of consumerism has forced marketers and analysts to look at the magnanimity of what was once termed rural India. There is a growing emphasis on understanding the bottom end of the pyramid. Though data may create consumer segments for Bharat and new theories would emerge. While eager businesses are engaged in deep trenching, there is merit to observe and take a fresh approach to what most of us have surmised. “70% of India lives in her villages”. Yesterday’s approach seems to present the ever pressing need for more information, a better grasp, a bit more insight into Bharat.

To begin with, take a look at common man from Bharat, where the earnings are on a day to day basis, life moves from one day to the other. A pattern of everyday life, somewhere around the bread-line, we get drawn in by the paradox of debt and aspirations as it weaves the never-ending cycle of existence.

While micro-finance as a category is geared to create a mass movement of social change, it means addressing the very needs of those confronting the blurry line between happiness, responsibilities and earnings. Insurance and savings have made in-roads but have not yet grapsed that we are no longer agents with financial products for a distant dream, our role as a collective is to embark on a revolution that can captivate the imagination of all people in India.

Bharat has never been so ready to embark on a new beginning of the common man. Bharat today is soon becoming the cornerstone of financial independence of the individual. Bharat is morphing, it is shedding old skin for the new one and various clusters of individuals emerge:

The Repressed
The families that fall under this category account for 20% of india’s rural population. They have migrated from the villages to the cities in search of work and today have an average earning of under Rs. 1000 per month, this is a nuclear family residing spouse and kids, with almost no means to take care of the elders of the family. They have their own house which is kuchha or semi-pucca with one or two rooms and don’t have toilet or bathing facilities in-house. Some kids are able to fulfill primary schooling, while most of them drop-out to contribute to labour very early in life, with over 60% illiteracy this group is the lowest on ownership of products– even basic things like bicycle, fan and pressure cooker are out of their reach and means. Their lives being the most uncertain they try to find secure and stable means of earnings. They also are victims of circumstances between hopelessness and helplessness. They exist on the margins and can barely muster the minimum to survive a day at a time. This is an India that permeates our conscience but does not figure in our calculations.

The Reconciled
Here is an interesting group that seems to have accepted destiny and would never be able to see beyond it. MHI is between Rs. 1000 – Rs. 3000, unable to break away from the past, their inherited existence from the fore-fathers is the only reality. They account for an alarming 58%(33.5cr) of the rural population. They are mostly farmers or agricultural workers or unskilled labour, some have graduated to developing some skill or are into trade. Here too, like the former group the main unit of the family operates sans-elders. Majority of them have had primary education and some are fortunate to experience schooling in the middle years or have been assign to learn a technical skill. They are wary of life, worn down by the daily struggle and worried about the next unexpected event that will test their endurance. They are rooted in their village, as migrating to the city is not considered as an option. They own their houses, of which 50% have a home with one/two rooms with about 25% having third room with toilet or bathing facilities in-house. Average Ownership of basic products – bicycle (60%) & fan(40%). 30% also have a TV, though pressure cooker is low on the list of priorities. Given the current circumstances, they may send their sons to the nearby cities so as to better their own prospect in the future

The Resilient
This group is a mirror image of shining India, their hopes and aspirations add virbrancy to the great Indian dream. This is where the next revolution of India is brewing. Representing about 20% of the rural popln (11.4cr), they have acquired mid-level schooling (less than 9th std) or some high school education (30%).A third are farmers, a third are in service and the rest are skilled labour or into trade. Majority have their own pucca house with multiple rooms with about 25% having 5 or more rooms, 50% have toilet and bathing facilities in-house, 50% have nuclear families, some have nuclear family with elders and some are still bound by a joint family. Ownership of basic products is very high – 70% own a bicycle, a fan and 50% have a cooker. 60% also have a TV, 40% also have a LPG stove, 25% have a two-wheeler. With a monthly income between Rs.3000 – Rs.8000, they have taken many hard knocks and survived. They are pushing forward, migrating to urban areas in search of better opportunities for their children. Keen consumers, irregular savers and reluctant investors¾they want financial security and assured returns.

The Resurrected
The city migrant, they account for 2% of the rural population, they have had the opportunity to attend school at all levels, of which many have also been abe to go to college and become graduates. About 90% of them have a pucca house with multiple rooms , some houses are about 5 rooms big, with in house toilets and bathing areas. Large family size, under the patriarch symbolizes the strong family culture and deep roots in the village. There is enough affluence to purchase basic products. About 70% own a bicycle, fan and cooker. 80% also have a TV, 65% also have a LPG stove, 50% have an electric iron, 60% have a two-wheeler, 30% have a telephone, 35% have a refrigerator. The average monthly income is around Rs. 8,000. This group constitutes the Beneficiaries of the opportunities thrown up by the new economic order, they have been smart to monetize the land of their ancestors or become entrepreneurs. A subsidized higher education system has been the springboard of countless first generation success stories. A raised standard of living and an elevated social status, they are hungry for more. They leave their villages in pursuit of their dreams – move to their “city of dreams”, they are usually motivated by a friend or a relative who has migrated to the city and this slow but steady exodus to the big city is giving rise to the swelling migrant population in many metros. They begin their life on certain basics and slowly build a more secure base in the city as they go out and seek better opportunities for themselves. They are never deterred by failures; they are driven and are confident that they will make it thru the void and will be able to provide their children with opportunities to secure a better future.

Respect and Reassurance
Though the economic lens may paint rural India in vibrant hues, there is a need emerging to converge them as skill and living standards of these groups will be a major determinant of India’s future rate of economic growth. And growth begins inside the house and not outside. Driven by a myriad combinations of dreams and means armed with nothing but their own determination to overcome yesterday’s weakness, we may all pose ourselves a key question, how can we with our understanding of diverse economies, different life stages, with future gazing abilities, create value in this world where the realtiy and dreams seem to play hide and seek.

Rural India:Opening new frontiers

2008-05-19T21:16:00.000-07:00

The story at the bottom of the pyramid
Rural India seems to be the latest flavour in town. From finance ministers to corporate India across industries, everyone seems to be shifting focus to the bottom of the pyramid. All boardroom discussions are getting centered on finding ways and means to grab a share of this lucrative pie. Rural development in India has witnessed several changes and has assumed a new dimension and perspective as a consequence.
Numbers look seductive with statistics and data giving enough evidence of volume potential…smaller ticket sizes but more buyers, making it eminent for most industries to ignore this segment at their own peril.
With near saturation and cutthroat competition in urban markets, there is almost no debate left on the potential of this burgeoning rural population whose incomes are rising and mindsets are changing.
While certain industries like FMCG have made early entry, others are learning the ropes with each passing day. Most industries are trying to test the waters through various forms of pilots and test launches with no clear indicators of gains in the short run. But there is no denying that the long term potential is vast, but so are the challenges.
Up until recently, a large part of marketing was done targeting the urban consumer and with most marketers having no prior exposure to the rural audience, they are applying the same rules to connect with this completely different segment. The mistake that most companies make while chalking their rural strategies is to treat the rural consumer as an extension of their urban counterpart.
The other common mistake is to treat rural consumers as a homogenous mass without segmenting them into appropriate segments.
The most relevant point to note is that this segment is extremely fragmented and spread out over a large geographical base. The cultural and behavioral differences vary not just from state to state but from village to village.
Mapping out this difference in consumer behavior is the key to any successful rural strategy.

A recent in sighting exercise in India’s villages has revealed some interesting trends

From buffaloes to beauty parlours:
Farmers verging on retirement, sensing the decline of their own profession, are encouraging their children to enter different vocations.
Around one fifth of rural households now generate their primary income from a salaried job or a small business. Besides of course small village shops, loans are being taken for novel business ideas like beauty parlours, popcorn machines, spice factories, tailoring shops etc.
A villager equals farmer is true no more as life has moved beyond farming and agriculture.

Don’t just sell dreams, tell them how to live their dreams:
Thanks to the television having made substantial inroads into rural homes, villagers have also learnt to dream. Everyday they are exposed to images of ordinary people scaling extra ordinary heights.
This has given them enough hope about their own future, but where they flounder is the way to go about it. It is here that measured approach consisting of small actions, one step at a time, finds better acceptance and credibility. Actions where outcome can be measured from time to time and results are visible in the near future. So go ahead and sell them dreams but at the same time give them a solution and a formula for it to materialize.

Not just economic but emotional security:
Even though they are receptive to new ideas, they do not readily dash into new ventures. They do not only want economic security but also want emotional security. They are likely to welcome innovation that satisfies their sense of security. If they feel that a particular idea will help them improve their economic position or their social relationship they will accept it.
Selling a product to them is not a cold commercial transaction it is an agreement of trust between the marketer and the consumer. And companies that live up to the trust that this consumer places in them, will benefit immensely in the long run.

Their children are like stocks in a portfolio:
Its always known that family ties are very strong in hinterland, but the difference is in the proportion of family budget that is being allocated to children, especially the male child and his education. Son’s education in a private school is like a stock market investment that is bound to yield returns far greater than any other investment. Any marketing effort that appeals to this agenda is bound to catch his immediate attention.

Sharing risks and rotating savings:
This insight is the basis for the success of all micro finance ventures in rural India. A simple model that lends on the back-up commitment of small groups has minimized risks and reduced bad debts to near zero percent. (Certainly doesn’t need the intervention of the finance minister to help institutions recover their money!!) Some of the other industries that can leverage this to their advantage are insurance schemes that offer group products and innovative saving schemes.

Community Empowerment and Inclusion:
The rural communities have not been empowered in the past. Therefore they do not participate in the development process. A participatory model that mobilizes the community and makes it responsible for its own well-being is bound to find greater success. The attempt should be to turn villagers into entrepreneurs and keep the ownership of the various projects with the community. Given the vastness and diversity of the geographies involved, marketers would do well to leverage the potential of villagers themselves by creating entrepreneurial communities. Make them an extended team of your business and let them grow with you.

A last word of caution, the companies entering the rural markets must do so for strategic reasons and not for tactical gains. The rural consumer is still a closed book and it is only through unwavering commitment that companies can hope to make a dent in this market.
Not to forget that it has to be a revolutionary and not just an evolutionary business approach that will open new frontiers of consumer demand and create an emerging market within a developing market.

Bollywood holds lessons for marketers

2008-05-19T21:12:00.000-07:00

FANTASY, SPOOFS & NOW DYSLEXIA- INDIAN AUDIENCE HAS CERTAINLY MATURED

Amidst the prevalent notion of Hindi cinema being primarily for an audience too happy to celebrate stereotypes, the last year has certainly seen the canvas broadening and the scope widening. From animation and fantasies to a tongue –in-cheek satire on modern India. From an offbeat film on female bonding to the good old rip offs of Hollywood action thrillers- multiple genres are jostling for space on the Indian marquees.
The diversity of genres today span from stereotypes of escapist or popcorn entertainment to a more documentary like subject of dyslexia. Yes, we are referring to the likes of ‘Hey Baby’ & ‘Partner’ on one side and Aamir Khan’s directorial debut ‘Taare Zameen Par’ which tackles the extremely important yet neglected issue of children facing difficulties getting mainstream education.
Is there a lesson for marketers here? Is there a new insight into the consumption pattern of Indian audience?
The Hindi film industry has always been a barometer of various societal trends. There is a lot to be decoded from the box office records of movies. Hits and misses have a story to tell as they expose the prevalent emotions and predict new trends.
Bollywood has not been entirely without some of these experimental genres in the past. There was the wake-up call to youngsters in ‘Rang De Basanti’ or an extremely sensitive portrayal of a blind girl played in ‘Black’. But they were experiments at best, few and far in between. So there were the usual stereotypes and a few experiments in between for the discerning audience that also happened to do well at the box office.
But the difference today is that there is no set trend or pattern to follow. From the wonderfully spiced up spoofs in ‘OSO’ to the important metaphor of female expression in ‘Chak De’ to a simplistic rich boy, poor girl love story in ‘Jab We Met’ the Indian audience has an appetite for all of it.

What is re-assuring and comforting is the wide spread acceptance of it all that takes it out of the ‘niche’ and into the popular mainstream. The audience is in a more receptive frame of mind, appreciating and relishing myriad genres.

So it’s also the best time for Indian marketers to put on their thinking caps and induce some fresh and innovative thinking in their strategies.

The Indian audience is living in an era of ‘entertainment economy’. They are seeking out entertainment in every experience- shopping, eating out, official trips or even family bonding. And with two hundred plus TV channels beaming out various forms of content live into their drawing room every waking minute, they have certainly matured in their consumption pattern of entertainment. They are today able to clearly differentiate fact from fiction and appreciate various genres for their original worth. While in the same week they are able to enjoy ‘Welcome’ as ‘leave your brains as home’ entertainer, they are also happy to soak in a intense socially relevant subject of dyslexia that finds connect with the masses and critics alike.

Now that the audience is in a mellow, welcoming mood, this is the time to bring in new talent with fresh ideas. Marketers need to not only enhance the existing levels of creativity within advertising but also to do this through deploying promotional techniques that broke with the established conventions of above- the-line advertising. They also need to break free of established genres of TV advertising that positioned the 30 sec TV spot as the pre-eminent form of advertising.

With no set trend to follow marketers have to experiment and innovate to attract and entice the elusive audience. The definition of communication should change to include multi platform campaigns, in sourced infotainment, user generated content, customer friendly CRM programs and other activities rarely associated with traditional advertising. Marketing experimentation should accelerate along with the need for new metrics as communications cost barriers continue to plunge. There is a need for new capabilities among media, agencies & marketers.

For the film industry that strangely prefers to wallow in familiarity & stereotype the blockbuster success of these diverse genres should offer enough motivation to marketers to expand their arsenal & attempt wild ideas & creative innovations not just in their communication but also in business strategy.

2008-02-19T09:15:00.000-08:00

Marketing in Transitional Economies

An important aspect of globalization is the increased participation of developing economies in the global economy both as marketers and producers of goods and services. The increased integration in global economies has meant change in organizational landscapes as well, thus necessitating the organizational transformation to deal with new competitive dynamics. In this article, we examine the changing role of one of the most important and yet the most undermined function in business today – MARKETING.

Since the opening of the economy in India in 1991, the role of Marketing is marked by change, contradiction and confusion. In short, all the problems those are typically associated with a concept in transition. And for most parts marketers themselves are to be blamed for it. It is the fault of the function that has simply lost its bearings in this rapidly changing world.

To begin with, the role of Marketing has become very diffused and all-encompassing. And this trend is evident in all organizations around us. In some organizations, marketing equals communication and PR while in some others it includes product development and in yet some others, it just means distribution. In addition, the definition of Marketing has also been understood to mean various things such as promoting, selling, positioning, targeting, branding, innovating, and much more. It is this fluidity in the meaning of marketing that is both its source of power and its undoing--it can change rapidly to leverage changes in the business environment, but it can also become bogged down in dead-end paradigms that languish for years. Ironically, while one of the key deliverables for Marketing is the ‘positioning’ of products/companies, it has failed to sharply position itself as the dominant ethos of the firm.

In an increasingly globalized economy there are some basic fundamentals of marketing that need to be re-visited and re-iterated for it to become the strategic driver of growth in any organization.

Customer vs. Evangelist Approach:
Put the overall customer experience far ahead and at the helm of every strategic decision of the organization, be it product, price or distribution. Marketers need to be aware and on top of new buyer reality. The focus clearly needs to be customer-centric activities – customer service and delivery, easy access, post-purchase satisfaction and overall customer experience as the most critical aspect of their job ahead of tactics like advertising and promotion. The emphasis needs to be on offering solutions that aim towards creating loyalty and goodwill in the long run and thereby converting customers into evangelists. This would make their job far simpler as evangelists would become the spokespeople for the product and that too at no extra cost.

Brand vs. Business Approach:
Marketers need to ensure a deeper influence in the organization through better integrated business, brand and marketing strategy, in order for the business goals to be achieved. The myopic approach to brand building limited to advertising and promotions needs to be up scaled with a larger business perspective. And hence, all decisions related to products, pricing and brand portfolio strategies such as brand extensions, variant mixes, etc. should be aimed towards boosting revenues and driving growth.

Marketing vs. Selling:
Great products no longer are enough and strengthening the sales force is not the answer to sales growth. The solution lies in effectively marketing the product. Marketing must stimulate demand and create momentum for the brand. In a society of abundance marketers must serve a role keyed to excess supply rather than excess demand. In such a scenario it is easy to fall prey to day-to-day pressures of sales and resort to short term tactics that are counterproductive for long term brand health. Marketers are constantly challenged to demonstrate the fact that marketing is an objective and quantifiable function and most influential in delivering medium to long term results.

Cost vs. Investment Approach:

Investment in Marketing is quite often viewed as a “discretionary expense” – atleast more discretionary than other line items on the budget. Many companies focused on bottom lines argue that profits are most rapidly created through cost cutting and reduced marketing investments. That’s why at difficult times the first one to face the axe is always the marketing budget.
The reason for this is most marketers are not able to provide measurable returns on investment directly co-related to business growth. Marketing has to take the onus of a better understanding, creating and delivering on customer focused growth strategies that grow revenues while also improving returns on investment.

Marketers today need to evolve from the traditional approach to marketing which was governed by product, place, price and promotion. This tenet was driven by the needs of the business – a seller’s approach. This needs to shift to a buyers approach keeping customer needs at the centre of all marketing strategies.

Marketing must show its prowess in understanding and leveraging its knowledge of the customer and what motivates the customer’s relationship with the brand. Its marketing that brings the insights that must be leveraged across the customer touch points – whether they are owned by the sales team, customer service or business operations – to ensure the business attains and maintains its superiority.

To that end the marketing mantra needs to evolve to the 5 I’s for any marketer to be effective: A relevant Insight, A Powerful and Unique Idea, A Breakthrough Innovation, A 360 degree Implementation and A Seamless Integration. This will ensure success in today’s dynamic, competitive business landscape.
T

The twenty 20 way of life

2007-10-26T21:25:00.000-07:00

The Twenty20 Way of Life

Cricket is the flavour of the season and all ye cricket lovers are getting an overdose of it. A little over five months after one cricket World Cup has ended, another has just begun. The inaugural Twenty20 World Cup, which was viewed by suspicion by many, is turning out to be a darling of most critics. It has enthralled the masses, classes and critics alike. What’s making this game so relevant today? Would it have been as successful in India 5 years earlier? Probably not. There is something about the societal and cultural changes shaping India today that tells you that the timing is apt and Indians are going to lap up this snappier, jazzier and a more gripping form of cricket.

All the critics who cried hoarse that test cricket was the “real thing” and that genuine cricketers played only test cricket are being forced to reluctantly accept this new format as it moves on to become part of the establishment.

Life is transforming and so is this game of cricket. You see evidence of change reflected and manifested in life all around you.

More Money, Less Time

Today as we spend more and more time working, we are spending less time living. Time being under finite constraint, we are keeping a number of pots boiling at once. We are compressing activities into more concentrated doses, whether weekend trips, 'shopping-movie-dinner-family bonding' all rolled into one. We see our lives as a matrix with a series of little boxes that need to be filled with myriad activities. This form of the game fits-in neatly like a little cube in this matrix. It occupies the same slot as any evening out - watching a movie at a multiplex or hanging out with a bunch of friends after work. It is fulfilling the need to entertain and unwind after a hard day’s work. What ICC has effectively done is that it has taken something which already existed and refined it with the catch line “twice the action in less than half the time”.

Present Perfect
Seize the moment. With the speed and complexity of life taking a dramatic toll on our psyches and spirits, people have begun to accept, believe and internalize that the present is all we have. And that exactly is the spirit with which the batsmen go out in the field. The equation is skewed in favour of the batsmen marginalising the bowlers. Every ball is an opportunity – you either seize it or lose it. Yuvraj showcased this when he hit the ground running with 6 sixes in 6 balls.

Intelligent risk taking
Risk taking has been an integral part of business and life, but today the game belongs to those who know how to manage risk properly. The growing numbers of IITs/IIMs opting for entrepreneurial ventures hinges on the premise of intelligent risk-taking. The word risk has a slightly negative connotation to it — it implies danger, tension, and possible loss. But risk also has a positive side, the chance of hitting a big win, of getting more on the back side than you invest on the front side. The most intelligent risks are those where the potential downside is limited, but the potential upside is virtually unlimited. As in this game, success in life belongs to those who have dared to take calculated smart risks.

Attention-Deficit Syndrome
Like airplane seats and fresh food, attention is becoming a highly perishable commodity. As daily demands, cell phones, iPods, home computers, DVDs, televisions, laptops compete for a share of consumer consciousness and invade our lives; people are finding their experience of reality so fragmented that their ability to concentrate is getting drastically reduced. Going forward, such distractions are only going to intensify. Consumers are seeking out fun and engagement in just about every buying decision. Even cricket which was considered a form of recreation, today needs to enhance its entertainment quotient and provide instant gratification. That possibly explains the introduction of music, dance and cheerleaders to pep-up this “gentleman’s” game and grab attention of this fickle channel surfing viewer.

The beast in the gentleman’s game

Liberalization and developments in the last few years have opened opportunities for us to compete against the best in the world. A seething drive punctuated by energy and enthusiasm is the need to be successful. And cricket, unlike soccer and rugby, has never been considered an aggressive game - always considered a timid counterpart. This new version of the game is driven by the desire to bring out the best in individuals which we are able to identify with. Thus, energy, enthusiasm and aggression that characterize this format are set to make cricket a worthy competitor to the other more aggressive sports.

Summing up, cricket in India has at various points of time mirrored the changing faces of India from the laid-back and relaxed 5-day cricket matches punctuated by crests and troughs to the “sped-up” ODIs to the “Express” Twenty20. This lighter version of cricket goes down well with the generation that believes in equal opportunities and roots for the underdog. It is a generation that believes in the destination rather than destiny with no scope for ambiguity and draws - a generation that believes in celebrating the moment and moving-on till they find the next joy. The game is an ode to the optimistic, happy-go-lucky generation of today. The Twenty20 Way of Life

The Rise Of Social Media

2007-09-21T22:47:00.000-07:00

The Rise of Social Media

Let me start by saying that reaching your target audience has never been so much complex in the media landscape. While I say its complex let me also add that possibilities to do such niche targeting were never available a decade or two ago.

In the last couple of decades we have seen a major shift in the media consumption habits. First, the media got fragmented giving consumers a plethora of options to choose from and marketers an ability to do a better profiling over various media options to reach their target audience. Then, with the digital wave the media landscape got fragmented further where the battle for eyeballs was not restricted to 100s of TV Channels or Magazines but to millions of websites and billions of webpages – Mass media had truly given way to Micro Media! And now, the consumers of media have become the creators of media – Welcome the Social Media! From being a receiver to a creator we are seeing a new face of consumers. Consumers today are using the digital platforms to share images, videos & opinions giving rise to the so called “user generated content” or “Social Media”. This changing landscape has brought new challenges and opportunities for marketers & calls for novel ways to leverage such platforms.

Talking about some of the opportunities first – This new world order is bringing consumers closer where they are forming communities around their common interest and preferences. These are all consumer driven communities where they are flocking by choice and not by chance. This has given marketers an opportunity to narrow cast their communication and reach to their target audience in the right context with minimal wastage. These connected consumers are also sharing & forming opinions through blogs & message forums. The word of mouth is traveling faster today through the word of mouse. These being digital conversations, give marketers an opportunity to monitor consumer preferences and opinions leading to better product development or service delivery. The “Free for all” media content which users are creating and consuming “on demand” has given marketers an opportunity to get their message across to a larger audience at minimal cost provided the consumers find a liking for their communication & brand. One can imagine the power of this media when a Nike commercial uploaded by some user gets more than 16 Million views on You Tube. We all know how much media money one would have spent to reach an audience of 16 million!

Brands always had a personality which consumers could relate to largely because of the legacy, positioning and advertising of the brand concerned. The new media has also given a voice to the brands where they can talk to the consumer – it gives an opportunity to talk one to one with the consumers at an informal level through blogs and communities. Increasingly brands have become open to start this dialogue with the consumers. It gives invaluable customer feedback and helps establish a more personalized relationship with your customers.

Along with these opportunities the new media has also made the life of the media planners and buyers more complicated. One can only plan that can be predicted and buy only what is up for sale. The new media is changing so rapidly that at times the trends are beyond prediction, what is a cool technology today can become a potent media tomorrow – take the example of Search! It’s the most disruptive media we have seen in recent times. The simple media buying rules of the traditional media also do not apply here – the media owners are scattered all over the place. Advertising Networks to a large extent have helped overcome this challenge but is regular banner advertising the best way to leverage these niche interest pages? Or, there is some new technology waiting to surprise everyone? We will get the answers only if we keep moving along this wave.

Another challenge will be to draw line between advertising and participation on these new media platforms. Advertising is mostly a one way communication where you convey what you want to the consumers and expect them to form a preference towards your brand over competitors where as participation is engaging in an active & trustworthy dialogue with your consumers. One should know where to draw a line between the two since both are received by consumers differently. For instance, users might not click on the banner ads they see on Face Book but they will be happy to install & circulate the Trip Advisors “Cities I have visited” Application!

All said and done, the media space has never been so exciting. Today, there are no thumb rules to reach out to your target audience. As marketers, we will have to keep inventing new rules to ride on this consumer wave. The power equation of media has surely changed hands – the faster we accept this reality the better it is!

Male?Female?Does Gender Really matter

2007-09-21T22:43:00.000-07:00

Male? Female? Does gender really matter?
The concept of masculinity and femininity is changing at a scorching pace as the lady is becoming bolder and the gentleman is gearing-up to look beautiful. All around us we witnessing a blurring of the traditional ideals of the 2 genders, characterized by a transgression into each others domain.
Enter the New Man: He loves designer wear, is seen just as often near a catwalk as competing in sport, confesses adulation for Shakira, decorates his house and even changes nappies. He’s spending his time differently - not only occupying more of it in front of the mirror but also shopping at boutique stores, drinking at bars rather than pubs, enjoying a dance at a discotheque and going to beauty salons. Infact, new terms have been coined to describe these people – metrosexual, ubersexual, etc.
For decades, ‘Mills & Boons’ perpetuated the traditional ideals of masculinity and portrayed men as active, adventurous, powerful, sexually aggressive and uninvolved in human relationships. For years macho men were straitjacketed of traditional expectations of the dark, strong, silent types and were forced to keep their emotions under wraps for the fear of being ostracized from their conventional domain.
It is only now that the image of the Sensitive new man has emerged with a sanction to showcase his gentle and caring side, and is officially allowed to invest emotionally in relationships.
Why are we witnessing this mindset change? What are the drivers to this behavior? There are a few theories floating around on the subject. One of them concerns women – more specifically, the changing role of women in society. With the changing reality of women’s social position, women today have successfully stormed bastions of male power.
As the presence of women has increased in men's social and working lives - as their rights have been belatedly recognized - men have changed the way they act. As women have pushed for equal rights, the success of that push has been the single most significant contributor to the emergence of the ‘New Man’.
The economic motivation because of her enhanced purchasing power has fueled the emergence, albeit grudgingly, of the ‘New Woman’.
The 'New Woman' - independent, confident and assertive, finding satisfaction in the world of work and recreation, seeking excitement, adventure and fulfillment. A distinct change from her earlier image of a passive, submissive, and marginal, performer of a limited number of secondary and uninteresting tasks confined to their emotion and their domesticity.
What implications do these trends have for marketers, products and brands? With gender being the most common form of segmenting and targeting used by marketers in general and advertisers in particular, the blurring of boundaries is posing its own set of challenges.
John Gray’s best selling book ‘Men are from Mars and Women from Venus’ reminds us that the fundamental gender differences in attitudes and behaviors are biologically inherent. For example, at the risk of generalizing, while women prefer lighter shades like pink and curvy lines, men prefer darker shades such as black and straight lines. While men get turned on by machines and gadgets, for women it is about looking and feeling good.
For categories predominantly used by one of the sexes, the gender choice when it comes to product development and communication is relatively simpler. It is a matter of keeping abreast with the latest trends in the dominant gender. The strategy is driven by insights emerging from a deeper understanding of the gender.
For example, Raymond’s has kept itself relevant even today by continuously evolving its portrayal of the Man. Chevrolet Optra’s famous ‘Karva Chauth’ ad owes its success to the understanding of the gentle, caring side of man. Gillette’s communication of the ‘soft, smooth skin’ benefit, up until now understood as a woman’s need, is also stemming from this evolving trend.
Advertising for women has also moved from objectifying women’s bodies to portray a more progressive image of women. These images now show women at work, adopting a male role, working as an equal alongside or even in frontline. Categories like fairness creams, refrigerators, washing machines, to name a few, have successfully depicted facets of the evolving ‘New Woman’.
But when you are a marketer of a brand being consumed equally by both the sexes, it could become a challenge answering some of the typical marketing questions. Or when the product is gaining acceptance at a fast pace amongst the other sex. Whom do you cater to - Men or women or both?
A lot of marketers are facing this dilemma today with a lot of products traditionally in the domain of one of the sexes, have gained substantial acceptance amongst the opposite sex as well. Entry level cars, mobile phones, jeans, health care products, sunglasses, insurance products and cosmetic brands, to name a few categories, are catering equally to males and females. Would gender then be a viable basis for segmentation?
While most personal care products have created differentiation at the product stage through variants and line extensions (for example, Clinic All Clear Dandruff shampoo, Emami fairness cream, Nivea and Polo have variants for men and women), the challenge still remains in ensuring a brand ethos which is all encompassing and not influenced by gender.
However, categories like cars, mobile phones, insurance, etc. do not divide consumers into demographic groups when creating a product, atleast not in the traditional sense. Every product is supposed to perform a role in the lives of the consumers. The role comes from the need(s) that the product is expected to satisfy. Hence, it makes a sense to segregate consumers on the basis of needs. Every human being, male or female, is first an individual having his/her own special needs. Take for example cars. A lot of people would assume it to be a male device. With increasing number of working women, it is as much a transport need for her as it is for men. Walk in to any parking lot or hot spot today and you would see an equal number of females driving cars. The need that the car is satisfying is that of a progressive lifestyle of the individual, be it a man or a woman.
One can observe a similar story with mobile phones. The need that the mobile phone is satisfying, in this case, is that of a big screen with a lot of features like music which makes it a unisex product.
The important thing to remember is that in today’s competitive, ever changing environment, business must keenly aware of the emerging trends to create successful products that meet and exceed consumer needs and expectations. It is essential to stay close to the consumer to learn what is influencing them.

Brands ageing faster....a human connection

2007-09-08T23:15:00.000-07:00

Brands ageing faster: A human connection

Brands are like human beings in a lot of ways. In many customer researches, a common question is “If this brand were a person, who would it be?” Customers are always able to personify the brand with such detail that you could clearly visualize him/her. This is because our choice of brands is a reflection of ourselves. If we like a brand, it’s because it has positive personality traits that we either possess or aspire to have. Levi’s is cool, ipods are trendy and Chevrolet is attractive and stylish.

Apart from having a personality link, brands behave like human beings even when it comes to their lifecycles. Much like people, brands are born, they grow, and they mature, go through a decline phase and eventually die.

Today, we are witnessing an interesting trend with brands ageing faster much like what we are observing with people around us. Kathleen McDonnell in her book “The Hurried Child” looks at how children are being pushed on to the fast track to adult success by societal pressures and anxious parents. Physical and behavioral changes that would have been typical of teenagers decades ago are now common among "tweens" — kids ages 8 to 12. The lines that used to distinguish between adulthood and childhood are growing blurred and the evidence is all around us with 6-year old girls dressing-up in navel bearing outfits and 8-year old boys playing adult computer games.

Technology and consumerism are having a similar impact on the lifecycle of brands. Globalization, rapid communication and technological advancements have accelerated the ageing of brands. The internet has been a significant inflection point here as it enables the rapid dissemination of ideas and development of products around the globe. In effect, it acts to shorten the lifecycle in many categories.

Products emerge, surge, diffuse and are purged. With changing consumer tastes and preferences, some products becomes popular relatively quickly, but are also losing popularity dramatically and are being replaced by the next bright promise. Why are we witnessing this trend? Novelty attracts our nervous systems; our faith is progress and our passion is hope. Something new might be the next great thing (the last one sure wasn't); no matter how bizarre it seems at first.

All this has led to the product life-cycle curve becoming steeper today than ever before, indicating that an increasingly large proportion of sales occur soon after the introduction of the product. A narrow window of opportunity exists to earn profits on a new product before competition catches up and margins begin to shrink. It is not only imperative for companies to be first-to-market with their product, but also to be able to ramp-to-volume quickly to meet early product demand. With shortened life cycles, companies cannot afford to miss out on the initial bang, and stock-out becomes an expensive proposition. But with technological advances, the quality of products is improving greatly resulting in an interesting paradox for marketers – while the products are lasting longer, the time in which they are outmoded is growing shorter.

Thus, in effect, the S-curve is changing shape in the case of a number of product categories with the curve getting steeper at the growth stage and a longer lasting flattened curve at the maturity stage.

That is why, from planning to implementation to the final act of selling, marketers have had to fast forward their act. This impacts everything: from designing products to logistics to distribution, to marketing communication. Marketers have to invest heavily in a short span of time for the maximum returns. The gains are great, so too are the risks.

Does celebrity advertising work?

2007-07-13T03:51:00.000-07:00

In India celebrity advertising is being used across the entire spectrum of products and services that people use it in their day-to-day lives. Today, it is nearly impossible to witness an ad break without having a celebrity endorsing some product. Colgate toothpaste, Lux soap, Pepsi, Airtel, Mayur suiting, LG refrigerators, Chevrolet Aveo, etc. – across categories - are using celebrities to endorse their products. India is still a growing economy and the competition between players is quite intense. With products being more-or-less at par, marketers are jostling to snatch the customer at the time of purchase. Different categories use celebrities for a variety of purposes. In the case of most FMCG products, the usage of celebrities is more from a saliency building perspective with the added benefit that celebrities are able to build an instant connect with the target audience. In certain categories with no history of celebrity advertising, the usage of one by a brand could help to differentiate the brand from competitors. When Palmolive used Kapil Dev in the 1980s, the first of its kind in the category, his line ‘Palmolive da jawab nahin’ became an instant hit and is remembered even today.

The thing with celebrity advertising is that the role they play if different for different categories. And so, in the case of FMCG products the role of celebrities is quite different from what it is when it comes to durables or lifestyle products. As we go up the value chain towards durables and automobiles, the brand used by celebrities does impact the perceptions of that brand. So, when a Shahrukh Khan sports a Tag Heuer, it connotes certain imagery and provides a certain asprational value for the brand. And in public, it would be inappropriate to witness him wearing any other brand. That is reason why marketers insist that celebrities use the products they endorse in public as well. This does have a positive rub-off on the perception of the brand and the final purchase. Thus, apart from generating saliency and connect, the celebrity is able to send across a brand message fast. The same is true for automobile advertising where celebrities are used.

Take for example, the use of Rani and Saif for Chevrolet Aveo. Chevrolet Aveo was launched in March 2006 at a time when the auto industry was growing rapidly and with cut-throat competition. The Chevrolet Aveo is a new generation car with class leading performance, amazing looks and style and great mileage. Hence we were looking at ambassadors who not only connected emotionally with the audience but also embodied the two dimensions of performance and aesthetics, substance and style plus class and exuberance. The search brought us to Saif and Rani, two new generation and very successful stars. They represent style, class and depth. In the roles that they have featured, they have won the hearts of millions and are well entrenched icons for the people that the campaign was addressing. Together they dramatised the superiority of Aveo over the competition and brought alive the positioning of Aveo as the embodiment of great performance and immaculate aesthetics. The brand has positively benefited as the celebrity values, category benefits and brand values were closely interlinked.

All said and done, it has to be said that the debate on celebrity advertising could go either ways. The success of celebrity advertising depends on the strength of the creative thought and the usage of the right celebrity. If the thought is weak, the chances are that the celebrity is remembered more than the brand he/she is endorsing.

“Anti-Incumbency” Syndrome Hits Brands

2007-05-28T23:00:00.000-07:00

“Anti-incumbency” – term synonymous with elections and government change. Every 5 years you hear governments getting toppled with the common excuse of being afflicted by the “anti-incumbency” wave. So, what happens – do the governments not deliver on their manifesto or is it a case of pure fatigue or just ‘change for the sake of change’? We would like to believe that during its reign the ruling party would strive ardently to deliver on their agenda in the hope of being returned to power. But yet it is always tougher for the incumbent as the “new” lures you into believing that it would be better and more promising.

This sort of change for ‘change’s sake’ is certainly not unique to governments alone. Infact, it runs rampant in the wonderful world of marketing as well, especially with those brands having the same lifespan as governments in India.

How many times has a good product been dumped just because the new one offers more excitement and a better talk-value? How many times has a perfectly satisfied user succumbed to the temptation of a new experience? “I have been using a Maruti Esteem for years now, so my 10-year old son insisted on next car being a Chevy Aveo” or “We have been using a Whirlpool washing machine for years, lets look at an LG or Samsung model” are increasingly being heard from buyers when it is time for a change.

Consumers are becoming more daring in their expectations due to a myriad of unrelated societal and technological changes. Freed from the shackles of tradition and scarcity, enjoying full access to information and reviews, these consumers are trying out everything “new” – new products, new authors, new holiday destinations, new relationships – new ‘anything and everything’ with complete abandon. Attractive to consumers who are increasingly leading a transient lifestyle governed by a ‘disposable culture’, these consumers are freeing themselves from the hassle of permanent ownerships and possessions. What drives them out is boredom, monotony and the mundane and what drives them in is novelty, discovery and action.

The implications? An obsession with the here & now, an even shorter satisfaction span and a lust to collect as many experiences and stories as possible, is undermining the perceived value of fixed goods & services. The exposure to the brand, the glamour of new product offerings, fatigue with the existing, and the emergence of new wants, needs, and aspirations of the customer is perpetuating this ‘anti-incumbency’ trend in brands.

There are other factors responsible for this syndrome as well. The ability to quickly dispose off what’s no longer required is driving promiscuous consumption as people are no longer worried about buying the wrong product and getting stuck with it. This is being driven by the successful emergence of different auction sites. Consumers are aware that there will be residual value and they are willing to take more chances because they know there’s an exit if they have made a mistake. This is giving birth to an ‘exchange’ trend in the durables’ space especially in high value categories like cars, high-end electronic goods, etc.

Living in the world of abundance, the audience today is getting greedy and is the most fickle. In terms of product loyalty, they are champion polygamists. Every current trend is writ largely with them. The fragmentation of mass audiences, their willy-nilly flight from one platform to another is redefining the conventional definition of loyalty.

How many times have you heard that “it costs several times more to attract a new customer than to keep an existing one?” But with the emergence of this polygamous lot, the question begging to be asked is “Is it now time to forget loyalty?”

There’s widespread agreement that customers generally get sick and tired of the product that they have been using for a while. So, what’s the elixir that will invigorate them?

The challenge with building customer loyalty is that it has shifted from being defined only by such tangibles as quality and price to mainly being defined by intangibles such as values, cultures, attitude, etc. So, to deflect the impact of brand fatigue, companies should invest in intangibles at subtle levels. As far as functionality is concerned, given the current competitive market, one is bound to try new things because product innovation is at its peak. The mass consumers today are children of liberalization and it’s too soon to get hitched.

New offerings and launches will continue to attract customer and be successful because the market isn’t saturated enough to show signs of loyalty. A 4-year old Chevrolet has been one of the fastest growing car brands in the country and has a long way to go.

And there will be many more such categories and products.

Today, even the loyalists’ brands admit that in such a dynamic market, loyalty is not enough. You have to appease the consumer consistently.

The point is that we need to shift away from the traditional definition of loyalty because the customer who “never” switches products or brands is impossible to find? The challenge is to ensure that the customer enjoys and cherishes the relationship during and after the relationship is over, to assuage the effects of the ‘anti-incumbency’ trend.

Meet the new marketer

2007-05-28T22:57:00.001-07:00

Imagine this scenario: sitting in an aircraft busy making the last minute changes in your big presentation which will decide the next year’s road map strategy for your brand. A nudgy happy young man, about 20, sitting next to you, peering over your shoulder, just can’t resist blurting out, “Pardon my intrusion, looks like I could be your customer, but I kind of don’t relate to your description of the audience…seems a little theoretical and outdated.

As curious as I am to imagine his reaction, the situation today may not be totally hypothetical. You probably did forget to add him in your definition. Your next door neighbour could well turn out to be your customer and a smarter marketer at the same time.

There is a sea change in the consumer’s outlook towards his life today. The democracy game is taking its true form now. The customer today knows that he is not a part of a mob, is aware of his worth and is ready to take matters in his own hands. Users are creating content that other users find appealing. The rise of the many “express yourself” platforms highlights this dominant need to connect. Youtube, MySpace, Flicker, SeeMe TV to name a few. Today a recorded strumming of the guitar in the confines of one's room, when uploaded on YouTube can invite viewer hits running into thousands. A day-to-day example of this phenomenon is the increase in citizen journalism, where users, armed with camera phones, laptops etc. are capturing news events and publishing them on the net or live news channels. Having a personal blog is almost a fashion statement today.

And when freedom of self expression becomes fashion, the trend cannot be ignored. Marketers need to harness this trend by co-creating content with their consumers. Let your customers come up with your products for you. The power of harnessing your customers’ insights is amazing. You are connecting directly to the insights, dreams and beliefs of your customers, ensuring that you will hit a home-run with the rest of the world too.. And the funny thing is – they will do it for free, and even create the right buzz for you.
This trend might well turn out to be a marketer’s most competitive tool of obtaining customer-centric brand propositions and put an end to the conventional approaches to marketing.

In the traditional system of value creation, the consumer had a secondary role. His needs were merely second guessed and the connection was a one way road, from the product to the consumer.
The USP was a proposition to the customer that the competition either cannot or does not offer. It had to be unique – either a unique feature of the product or a claim not otherwise made in that particular product category. On the face of it, there seems nothing wrong with the USP theory. Marketing is all about creating differentiation vis-à-vis competition. However, we must not forget that 50 years back, technological capability was unevenly distributed. In those days a handful of companies had the muscle to innovate, while the rest were hurriedly trying to emulate them. Owing to technological disparity, there was a huge delay in imitator products hitting the market. This gave the innovating company ample time to harvest the profitability from these innovations. The Unique Selling Proposition, which focused on differences from what competition had to offer, was probably a viable strategy then.

Things changed rapidly with the significant strides in the field of Information Technology that led to instant availability of information which leveled the playing field and democraticised quality of products. More and more companies became champions at churning out me-too products with a slight change that made them legally acceptable. Thus, it became very difficult for manufacturers to create focused product advantages as means to brand building and creating differentiation and thus began the age of parity where consumers did not perceive any meaningful difference between brands.

Enter the Unique Buying Proposition, UBP. The USP was essentially what the marketer wanted to say through the product whereas the UBP was something that the consumer needed to hear that the marketer could say. It was a complete 180 degree change in approach to the entire process of marketing and the basic premise of this was that the only sustainable source of competitive advantage was a thorough understanding of the customer. This resulted in multi-million dollars research budgets for marketers in their quest to understand customer motivations and need-gaps. Focus groups, in-depth interviews, dyads, triads and all other forms of research to study the customer for insight – what does the customer really want and how can we connect our product to that primal need. While UBP as a proposition is certainly a better approach to the conventional USP and is still in practice today, the need of the hour has changed.

The consumer is no longer merely a source of input for the brand but is willing to partner with you. The boom in technology has broken the barrier between the marketer and the consumer and managed unison between these ends. The consumer today is astute enough and knows the dynamics of the other side as much as the marketer believes he knows him. Not only is he aware today, but also proactive. The traditional research model of hunting down the target audience and coaxing him with questions is no longer mandatory. As the consumer himself is willing to express his feelings and opinions.

The insight here is to open up your brand to its users. Not limiting the brand to being a spectacle, but being for the people, by the people.

The age of the User Generated Proposition (UGP) is here and now. The power of harnessing your customers’ opinion is not just an opinion now. It may well be the final word.

Some marketers have already started cashing in on the trend. Nokia N-Series’ proposition is not its sleek looks or advanced technology or enough and more space for your world to fit in, but is based on the fact that you can create your own music. Furthermore, it even provides a platform for you to explore yourself and showcase to the world, by backing this proposition with “Discover the DJ in you” contest.

General Motors worldwide has leveraged this trend successfully for the Chevrolet Tahoe. As part of a creative new ad campaign, General Motors teamed up with Donald Trump's 'The Apprentice' franchise to create a website that allowed prospectives to make their own commercials online. The contest was called “Make your own Tahoe”. The readers had a handle on selecting backgrounds, video shots, as well as input text for the commercial.

All this points out clearly to one thing. There is no defined conveyer and receiver of the message today. The boundaries are osmotic. Thus, the consumer will define what he wants. And if you have the muscle to deliver it, you can hope to score!

The car advertising in India

2007-05-28T22:54:00.000-07:00

Are consumers buying a car or are they buying a brand? Are brands locked in mere functional objectivities?

Since liberalization, the Indian car industry has witnessed the entry of a large number of automobile brands. As increased competition eventually rallies price equality, product and brand value propositions become key to selling strategies. In India, car brands are sold only on functional constructs and have somewhat fallen short on delineating strong, powerful brand constructs. Brands are grappling with functional or value differentiators at best leveraged to emotional benefits. Is there a force of constraint that limits brands or does the category need a finer understanding?

At one level, the Indian car industry is still at a very nascent stage with a large number of the middle class still acquiring their first car ever. The middle class has entered the consumerism era and the fascination for features and functional efficiency are the dominant parameters of luxury. Buying a car is practical indulgence. Most successful brands in the category have leveraged their strengths confined within functional constructs and this is true of all segments….be it entry level or top end premium segments. From a Maruti 800 to a Skoda or even a Honda Accord are relying on their inherent product strengths in positioning themselves. The obsession with feature driven benefits limits brands from exploring stronger brand ideologies outside the territory of functional benefits. How can brands really carve a space of their own that emerges outside the pure functional benefits? And at the end of the day, are we selling features or are we creating a brand?

Every car has an instinctive character of its own that comes from its design. If cars are a reflection of the owner’s identity, the identity needs to take its roots from the car itself and not the imagined owner. The different components of design, form, exteriors, interiors, all interact in a manner that collectively form a spirit of the automobile which should be brought to life. Brands need to unlock themselves from reducing the whole to parts and instead define the collective spirit of the automotive. In doing so, we can transform the language of the machine to a human spirit. This spirit identified will insinuate metaphorical associations that form the basis of a brand ideology. When a brand carves an ideology for itself, it professes a belief and philosophy of life which has more powerful social and cultural meanings than a singular emotional payoff. Brands need to enlarge the canvas of thought.

The traditional Indian mindset, known to be obsessive with time references of the past and the future, is changing. With increasing opportunities, rising incomes have short-circuited aspirations, bringing dreams closer to reality. Market dynamics of loans and credit cards have made it possible for us to believe in life today. We are increasingly living in the present. As car models are designed and re-designed to meet contemporary aesthetic codes, Indian car advertising has failed to capture cars as symbolic references of fashion and style statements. Cars are sensational and have drool value, but brands have instead characterized the aesthetics into a lifestyle statement. The increasing culture of accessorizing cars is a statement of style, and not of lifestyle. The difference in fashion versus lifestyle lies in the reference of time. While fashion is the expression of a person’s identity today, lifestyle embodies aspirations of tomorrow. India is metamorphosing into a world of aesthetics. The Indian consumer is being driven to consciously appreciate aesthetic form. From the glamour of shopping malls to fashion in Bollywood to modern café outlets, experience through ambience and aesthetic appeal has exposed the Indian consumer to the design culture. Brands need to align with the inherent sensational language of the category and infuse codes of fashion and aesthetics, which seem to be missing from current car advertising. While this need not be central to the core ideology, the brand personality that it will evoke plays a critical role for imagery associations and aspirations.

Lastly, every brand needs to be put to test. We rely too much on research and as a consequence brands have become only a reflection of consumer mind states. We need to understand that brands can occupy a special space in consumers’ lives by filling a gap, by being the inspirational ideology of the times and not a mere code of association. Music and religion have that power because they fill gaps in a culture’s philosophy and brands must aspire to achieve that stature.