e4m Conclave-South: Brands need to innovate to stay relevant: Amisha Jain, Zivame
Delivering insights on the topic ‘Build, Partner, Acquire, Repeat!’, Amisha Jain, CEO, Zivame, gave several instances to explain the importance of innovation
It was a gathering of thought leaders at the exchange4media Conclave – South at the Taj MG Road, Bangalore, on Friday. The theme - ‘Brands & Consumers: The New Connections’ – drew valuable insights from some of the best industry representatives.
Amisha Jain, CEO, Zivame, took to the stage to deliver insights on the topic ‘Build, Partner, Acquire, Repeat!’ She began her session by quoting Steve Jobs - “You can't look at the competition and say you're going to do it better. You have to look at the competition and say you're going to do it differently.”
Jain spoke about why brands present today need to innovate to stay relevant.
“If you look at data from the 1960s, 90 per cent of the Fortune 500 companies don't exist now - at one point they were great product, they were connected to their consumers but they didn't innovate,” Jain said.
Sharing an insight, Jain said that one of the leading OTT players - Netflix - had approached a blockbuster for 50 million dollars. “The blockbuster refused the offer by saying that Netflix is not minting any money. Today that same blockbuster has been shut down; one of the reasons being that they didn’t innovate.”
Jain shared an instance about Motorola and its journey from being one of the best engineering companies to being broken down and sold off. “Greg Brown while wrapping up had said that it is not because that the marketing conditions are such, it is because we didn’t innovate much. Although, the company had bought the first mobile phone and it led to three generations, due to lack of innovations the company couldn’t survive.”
“Innovation is not critical because you want to survive, but it is important because consumer evolves,” she explained.
Following it up with an emotional and insightful note, she spoke about how Zivame has come a long way since its inception and has played a pivotal role of being a catalyst in growing the category and shifting perceptions.
“Innovation is important to us because we are in the business of solving the challenges for a women's body,” Jain said.
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