“You can have a brand without a profitable business but you cannot have a profitable business without a brand,” stated Vinita Bali, Managing Director and Chief Executive Officer, Britannia Industries.
Successful brands from various categories may look as if they were born with an unconventional idea but the fundamentals of marketing exercise of these brands are crystal clear and that sets them apart. Bali drew from her many years of branding and marketing experience a very clear rule that a great brand has simple characteristics.
Highlighting what makes a brand great, Bali emphasised that, “A great brand first looks at the relevance and differentiation in the market. It then takes into consideration the pricing and staying power. Thirdly, great brands will own the issue and ‘dimensionalise’ their idea. And finally, great brands energies people, galvanise action and become icons in categories they operate in.”
Bali gave an interesting example of how Starbucks in America took the decline of home coffee consumption as an opportunity and entered the market then. Starbucks not only strategised on smart pricing but was the first in generating a new whole new experience of coffee consumption at a third place which was in between home and work.
Bali also compared the old incumbent and the new insurgent way of branding and marketing. “The insurgent way looks at an opportunity very differently and creates new business models as compared to the incumbent model. Incumbents miss opportunities that insurgents see; insurgents play to win, change the rules and represent choice and change; insurgents set an example of bold initiative, target the opportunity – they take control of the dialogue and end up creating a basis for action.”
Bali also emphaised that great brands don’t need celebrities for endorsements because the fact ultimately remains that consumers buy the brands irrespective of any other influences. Celebrities should come into advertising process of a brand only if they add value to it. Bali interestingly pointed that brands such as Café Coffee Day and Barista have never indulged in television commercials, yet are ahead in the race of rapid expansion and popularity.
According to Bali, marketing is changing from being sporadic, functional and episodic to becoming a disciplined process that is recurring, integrated, continuous and enduring. Bali said that the view of marketing to build brand equity is the old way because equity serves no purpose unless it can be converted into sale. “Marketing is about how you manage the marketplace, how you go to market and how smartly you craft a business model that supports the brand and the business,” concluded Bali.
Bali was speaking at the 12th CII Marketing Summit held on August 27 at Mumbai.
Our typical marketing budget is usually 10 per cent of the topline spend
There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...
The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.
<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...
The interesting animated rap music video encapsulates Droom’s ecosystem tools and their role in facilitating second-hand automobile transactions
Perfumes are invisible and these new ads from Skinn create a story out of this
New campaign aims at first-time users by providing ‘first-night free’ – a first-ever offering by the brand on online hotels booking