P9, which recently celebrated its third anniversary, has major plans for 2008. In a bid to offer services in all possible facets of branded entertainment, P9 has unveiled its plans to launch various divisions and even its own label of Bollywood merchandise in the coming year.
One of the divisions planned include P9 Sunrise, which will target brands that have small marketing budgets, but spend reasonably high on branded entertainment. The other divisions planned by the company will be in the space of institutional sales, merchandising and content.
Sharing more information on P9 Sunrise, Navin Shah, CEO, P9 Integrated, said that the efficacy of the traditional mainline mediums was dying and there was a growing need for alternatives.
“It has given rise to a situation where we have a lot of brands with small marketing budgets and high growth potential in categories that have a double digit growth. We have created a business model, where we ask for a sizeable chunk of their marketing budgets – from 50 per cent and, in some cases, even 100 per cent – and give them an alternate way of marketing their brand, which is entertainment-led marketing. For this, we will have a separate division under the banner P9 Sunrise, which will have brands with marketing budgets ranging from Rs 1 crore to Rs 5 crore. There will be a lot of brands, not only from the metros, but also from the A and B towns. That’s how we plan to take over the mandate of marketing communications for brands under the brand name P9 Sunrise,” Shah explained.
Though P9 Sunrise has not signed on any brands yet, Shah said that they had worked with several potential sunrise brands and going forward, they might sign up with them. Some of these brands included Baskin Robbins, Durian Furniture and Itz Cash. He further said that P9 already had business relations with nearly 40 such brands.
P9 Institutional Sales is a division launched by the company a couple of months back and is aimed at the B2B buying of entertainment goods like cassettes, CDs and DVDs. Noticing an opportunity in this space, the company intends to bring different labels under the same roof and provide bulk buying options for corporates.
Expecting it to be a big money garner for the company, Shah talked about the merchandising plans from P9. “We have have been talking about how merchandising is the next big thing at many forums for years, but haven’t done much in that regard till now. The merchandising division from P9 is concentrating on this space and much more. In fact, we also intend to launch our own label of merchandise, which will be Bollywood-led, by the first quarter of 2008,” he divulged.
Looking forward to a brighter year for P9 Integrated in 2008, Shah said, “We have set a clear mandate for us. In the space of marketing and communication, which includes creative and media buying agencies as well as media houses, P9 wants to be among the Top 3 companies in that space. And, we want to become a serious alternative to the Rs 18,000 crore spent on advertising, as an alternate way of promoting a brand.”