Technopak Advisors kicked off their 2nd Indian Consumer MindScapes in the Capital on April 29. The theme this year is ‘Powering Business through Foresight’. The Conference dwelled on the biggest challenge before marketers, which is to keep pace with consumers in their consumption journey – to not only acquire insights into what they want today, but foresight into what they will want tomorrow, and be able to translate these ‘buyer desires’ into business reality. It also looked at what marketers are doing not only to address this challenge, but the tools and techniques that are available to create winning strategies for the future.
Harminder Sahni, MD, Technopak, in his introductory remarks at the inaugural session, drew attention to the importance of continuous foresight into the consumer’s mind. Delivering the welcome address, Arvind Singhal Chairman, Technopak India, asked, “Why do we need this business foresight? There is need for interaction as the consumer is changing. Consumers are changing because their behavioural patterns are changing.”
The session on ‘The Evolving Indian’ saw Peter Baker, CEO, H&B Stores, Dabur, talking about ‘Health and Beauty: The New Consumer Mantra’. He said, “Change happened constantly, and companies had to invest time and money to learn about these changes. Consumer behaviour is changing as they now have a much wider choice. You need to understand what the consumer is looking for. Our strategy is to bring in global trends and new products from around the world. We need to adopt a business model and keep making changes all the time.”
The next session on ‘Green Consumer: Myth or Reality’ was addressed by Tara Prabhakar, AVP, MindScape-Techopak India. She said, “We have a lot of analysis to show that India is growing green. The consumer, media, and Government are all working towards a green India. The Government is taking initiatives such as introducing CNG-fueled buses in Delhi, running a campaign in Mumbai to promote controlled usage of air conditioners, mandatory solar water heaters for hotels, etc.
Corporates too are doing their bit such as the ITC ‘Wow’ initiative, Dell Earth programme, Shoppers Stop’s ‘Start Living Life’ campaign, and Subhiksha stores giving a discount of 0.5 per cent if shoppers carry their own bags.”
Speaking at the session on ‘Building a World Class Indian Brand’, Bhaskar Bhat, MD, Titan Industries, highlighted Titan’s journey over the last 21 years to becoming a world class brand and Tanishq paving the way to becoming a global brand. Bhat said, “We generate wealth for all stakeholders by creating India’s most desirable brands in articles of personal endorsement. There is excellence and dominance across value chains. Most important is brand building and good communication.”
Technopak’s latest report, ‘India Leisure & Entertainment Trends 2008’, was also released at the Conference. The extensive primary research study was conducted using quantitative and qualitative methodologies across a cross section of over 5,500 consumers aged 15-55 years, from SEC A, B and C households in 16 cities, to represent all urban towns with a population of 500,000-plus. This was supplemented with expert interviews among service providers in the leisure and entertainment industry and secondary research, including utilisation of data from Technopak’s vast body of knowledge.