“A global brand is not built in a year”: Dr. Mukund Rajan
At exchange4media’s inaugural Media Ace Awards, honouring the best work among media agencies, Dr Mukund Rajan, Brand Custodian and Member – Group Executive Council, Tata Sons, spoke about the journey of one of the most reconizable brands to have come out of India
At exchange4media’s inaugural Media Ace Awards, honouring the best work among media agencies, Dr Mukund Rajan, Brand Custodian and Member – Group Executive Council, Tata Sons, spoke about the journey of one of the most reconizable brands to have come out of India.
Sam Balsara, Chairman of Madison World, called Tata the “one truly global brand from India”. From a company with close to $18 billion group, Tata has turned into a company that operates in 100 countries, employs close to 600,000 people and has an annual turnover of more than $100 billion dollars
So what makes a brand a truly great and recognized brand?
According to Rajan, for Tata, it boils down to three things---Being global, trustworthiness, and being a good corporate citizen. “This is the brand messaging we send out and this is our core brand message,” he said.
He gave some interesting facts; nearly 70 per cent of the Tata Group’s turnover is generated outside India. “We need to see more global brands coming from India,” he told the assembled audience. He also said that the spirit of entrepreneurship needs to be unleashed across sectors. “Immersion in the culture is key to success in a new market for brands,’ said Dr Rajan.
“Before we approached globalization, we needed to consolidate our brands,” he explained. According to him, Tata consisted of a number of individual companies; each with their own brand image. This was first consolidated under the current and well known logo. “There were a plethora of brands and these were replaced with the now famous logo,’ he said.
He also touched upon how the brand approached the different companies that it acquired as part of its inorganic growth strategy. He gave the example of Corus, which was rebranded as Tata Steel and brands like Jaguar Land Rover (JLR), which were allowed to retain their individual identity. “When we acquired JLR, people questioned the business wisdom behind it but it worked for us, especially not changing the name,” he said.
According to him, any global brand is not built in an year; what it needs is consistent communication with all stakeholders.
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