Marketers' outlook positive on Union Budget 2019

Marketers are positive about what the Union Budget 2019 brings, especially with regard to the start-up industry and tax relief for private individuals

e4m by e4m Desk
Published: Jul 8, 2019 8:04 AM  | 6 min read
Budget 2019

Finance Minister Nirmala Sitharaman presented the Union Budget 2019 on Friday 5th July. The major highlight of the budget was that there were no changes in the personal income tax rates and plans to make India a USD 5 trillion economy by 2020. There has been a reduction in corporate tax as well, the corporate tax with a turnover of up to Rs 400 crore has been slashed to 25 per cent from a current rate of 30 per cent. The Government has emphasized the promotion of startup culture and digital payment in India, like last year.

We spoke to marketers to understand their views on the Union Budget 2019 and how it will help the industry to grow further.

Ashutosh Harbola, CEO  & Co-founder, Buzzoka

"The budget looks to be a Truly Digital one in nature and strong steps are seen for the upcoming fiscal year. From new channels to be started under the Doordarshan bouquet to providing a platform for startups to disseminate information in the industry, to Bharat Net which is targeting Internet connectivity in local bodies in every panchayat in the country are all welcome steps. Also, training of 10 million in industry-relevant skills like AI, IoT, and Big Data will help address the severe skill-shortage of technology and IT. We are really optimistic that the digital path taken by the government is surely matching the $3 Trillion vision."

Ahammed MP, Chairman, Malabar Gold & Diamonds

“The Finance Minister’s decision to hike the import duty on gold from 10% to 12.5% will be a double whammy for the gold retail industry, a segment which is critical for creating the much-needed jobs for the economy. This is because, on one hand, it will lead to a substantial increase in input costs for the industry, therefore sending the retail prices up and hitting sales. On the other hand, it will provide a stimulus for the illegal shipment of gold into the country which will further hurt taxpaying players in the segment. Therefore, considering the critical role of the gold industry in supporting economic growth and job creation as well as exports, the Government may reconsider this move. It is our long pending expectation that the Government should lower the import duty on gold to 5% level to make illegal trade in gold unattractive”.

Harshil Mathur, CEO & Co-Founder, Razorpay

 "This budget brought in some good news for Startups and FinTech. It solved one of the industry's major concerns that going forward, the startups do not have the trouble of angel taxes. Next, the announcement about launching an e-verification portal for investors will help startups worry less about the verification of their investors. On the digital payments front, the government has demonstrated their interest in promoting digital payments in a great way - a) any business will be charged a TDS of 2% on cash withdrawal of above 1 crore in a year, b) any business which has an annual turnover of Rs 50 crore and above must opt for certain modes of payments, with no charges or merchant discount rates. I believe this will discourage businesses from making cash transactions and encourage them to make payments through digital channels.  I think the budget meets expectations from the industry and seems fairly positive for FinTech and startups. I see these as welcome moves for the digital payments ecosystem, which will also certainly increase adoption of B2B digital payments." 

Rajan Wadhera, President, SIAM

 “The Finance Minister has extended wholehearted support to electric mobility, but this will not help the automotive industry in emerging from the current steep slowdown it is facing today. We warmly welcome the various additional measures announced to promote EVs like reducing the GST to 5%, exemption in customs duty on EV parts and especially the Income Tax deduction on the interest component paid for loans taken for purchasing EVs. All these were recommendations given by SIAM and we are grateful to the Finance Ministry for having accepted them. These measures will certainly help in making EVs more affordable and attractive to the consumers, which is in line with the recommendations made in the Economic Survey.  But, it is disappointing that the FM has not recognized the distress in the auto sector and not come out with any kind of support or stimulus, said Wadhera. However, the initiatives for improving liquidity in the market by capital infusion in the banks should help the industry to some extent”.

Kamal Nandi, President, CEAMA and Business Head & EVP, Godrej Appliances

“We are committed to promoting indigenous manufacturing of appliances and consumer electronics in the country and the announcements in this budget shall provide the necessary boost to the Government’s initiative of ‘Make in India’. We were hopeful of concrete measures that would accelerate demand. CEAMA will continue to work closely with the government to formulate more policies to develop the appliance and consumer electronics industry in India. New age skill sets such as AI and Robotics will help improve the quality and quantity of skilled labour - critical to industrial growth.

TS Kalyanaraman, Chairman and Managing Director, Kalyan Jewellers

“We are looking at this budget positively as the multiple reforms introduced clearly indicate that the Government is looking at laying the ground to fuel up the growth across sectors through relief offered to the consumers across sectors. With an investment of Rs.100 lakh crore proposed for infrastructure, we are expecting a bright future for the infra sector which in turn will benefit us, as consumers will have more disposable income and the gems and jewellery industry presents itself as a lucrative investment option with profitable returns.  However, the increase in customs duty on import of gold from 10% to 12.5% may affect short term sentiments on gold buying, and lead to an increase in the illegal supply of gold in the market”.

Dinesh Chhabra, CEO, Usha International

“We welcome the Union Budget which will boost the country’s development in the coming years, particularly in rural markets. With the economy growing and a rise in disposable income, this news ahead of the festive season will certainly bring cheer to all stakeholders in the consumer durable sector – companies, partners, and customers – and we are optimistic that this will lead to a spurt in the growth in the consumer durables category. We also welcome and are hopeful that the announcement of pension benefits to 3 crore shop owners under the new Pradhan Mantri Karamyogi Mandhan Scheme will bring some relief to the small retailers.”

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If you're not in the experience business, you're not in business: Ravi Santhanam, HDFC

The CMO of HDFC Bank was speaking at the 10th-anniversary edition of Kantar BrandZ India event

By e4m Staff | Sep 29, 2023 8:27 AM   |   4 min read

Ravi Santhanam

HDFC brand was not built on communication and that's the first message that we all take for ourselves. This brand was built on redefining what banking is and delivering on that redefinition, said Ravi Santhanam, Chief Marketing Officer, HDFC Bank while speaking at the 10th anniversary edition of Kantar BrandZ India event.

In his keynote talk, Santhanam outlined how the Indian banking system had a problem in 1969 and how nationalisation was the solution. At that time, all Indian banks were nationalised, he shared. “Today, when the banking system has a problem, the solution is to privatise the banks and how did it change happen in India? It happened because of HDFC Bank,” he said.  

He highlighted that HDFC Bank is run by a group of professionals, not promoters. “We are 100% owned by the public and no promoters even today. And these groups of professionals came together and created something which we all as Indians can be proud of.” 

He added that this was always built on defining what is going to be banking and delivering on these expectations. “The products and services with technology are an enabler and setting really phenomenally great service standards. What it does in terms of an emotional benefit for the consumer. It created what is called trust. People can trust us with their money."

According to the 10th edition of Kantar BrandZ Top 75 Most Valuable Indian Brands Report, HDFC Bank ranked second. “We are very happy to be the seventh largest bank in the world and we want to be much more. Today, we have almost 8.25 crore customers and the group that has come together we have 10.5 crore customers that we serve day in and day out.” Santhanam further stated that communication has played a very small supporting role in this. 

He shared that HDFC Bank has phenomenal marketing analytics. He said, “We found the trust definition has changed. Earlier the definition of trust was 'I will trust you with my money.'" Today, it's about trusting banks with customers' first-party data, according to Santhanam. "So we need to have invested in marketing analytics. I have an 80-member data science team sitting inside marketing, looking at big data on the cloud, doing phenomenal analytics to understand each and every transaction and interaction the consumer does so that we can bring it all together to become more relevant for our customers and that further increases the trust.” 

He also shared that it's important to be a bit more consumer-friendly. “We have the power of almost all the top brands here. We work with them as a banker to them, so we have the ability to bring it all together. Instead of participating with them, we decided to create our own properties and hence we created festive treats.”

Speaking about how banks can differentiate themselves from others in the space where almost every bank looks very similar and does almost the same products and services. He shared that the way they can differentiate is going to be on the basis of their services. He said the digital way of doing things will allow them to enhance the services.

He also spoke about the major concern people are facing is fraud. “We found fraud to be the one which is actually hurting people. People lose money through sharing OTPs.” The brand launched a new campaign, 'Vigil Aunty', to encourage people across the country to practise safe banking habits.

“If you're not in the experience business, you're not in business, and this is especially true for banking as a sector and banking as a category. And it is on the pillars that we will continue to concentrate our efforts,” he concluded. 

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Consumer durables advertising on TV grew 2.5X in H1

According to TAM Adex report, Prestige Range was the leading brand among consumer durables in Jan-Jun '23 on both TV and print

By e4m Desk | Sep 29, 2023 7:54 AM   |   3 min read

TAM Adex

The volume of consumer durable advertising on television increased 2.5 times in Jan-June’23 compared to the same period in 2022 and three times compared to Jan-June 21. 

According to the TAM Adex report on the consumer durable category for H1, print ad space climbed by 43% in Jan-Jun'22 and 38% in Jan-Jun'23 compared to Jan-Jun'21, while ad space declined by 3% in Jan-Jun'23 compared to Jan-Jun'22. On the other hand, the category ad volume on radio increased 2.2 times in Jan-Jun'23 compared to Jan-Jun'22. Meanwhile, ad impressions of the category on digital declined by 30% in Jan-Jun'23 compared to Jan-Jun'22. 

On TV, TTK Prestige India and Franke Faber India together accounted for 58% of the category’s advertising share. TTK Prestige India was the leading brand with a 39% share of category ad volumes in H1’23.  Hawkins Cookers, Kottaram Trading Company and Bajoria Appliances were the exclusive advertisers among the top ten of H1’23 over H1’22. The Prestige Range and Faber Kitchen Appliances together contributed 58% share of ad volumes on TV for the Consumer Durables category. 

Meanwhile, on TV the preferred genre for the category was GEC and Movies which collectively added 66% of ad volume share for the Consumer Durables/Home Appliances category during Jan-Jun’23.

TTK Prestige India not just on TV but also remained the lead advertiser on print medium. As well. The advertiser retained its first position with a 37% share of ad space in Jan-Jun’23 compared to Jan-Jun’22.  Sterne India and Philips Domestic Appliances India were the exclusive advertisers present in the top ten list during Jan-Jun’23 over Jan-Jun’22.  Among the top brands on the print medium, Prestige Range again topped the list with a 37% share of ad space in Jan-Jun’23.  NU Range of Products and Philips Home Appliances were the exclusive brands present in the top ten during Jan-Jun’23 compared to Jan-Jun’22. 

According to the report, Hindi was the most preferred language for the category when it come to advertising on print media with a 38% share of ad space. 

Unlike TV and print, Havells India leads the top ten advertisers list on Radio. The advertisers solely added a 75% share of category ad volumes in Jan-Jun’23.  Godrej & Boyce Manufacturing Company and Kottaram Trading Company were the exclusive advertisers present in the top 10 list during Jan-Jun’23 compared to Jan-Jun’22. Among the top ten brands, Lloyd Durable Range was leading in Jan-Jun’23 with a 41% share of category ad volumes on Radio.

Meanwhile, Samsung India Electronics was the advertiser on digital with a 46% share of category ad impressions in Jan-Jun’23.  The top two advertisers collectively added 58% share of ad impressions in Jan-Jun’23.  LG Electronics India, Xiaomi Technology India, Haier Appliances and Oplus Mobitech India were the new entrants in the top 10 advertisers in H1’23. 

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Eveready powers up new TVC for Ultima and Ultima Pro batteries

The campaign by TVC spotlights the company's enhanced Ultima and Ultima Pro range of premium alkaline batteries

By e4m Staff | Sep 28, 2023 4:24 PM   |   4 min read

eveready

Eveready Industries India Ltd (EIIL) has introduced their new range of Ultima Alkaline batteries through a campaign ‘KhelengeTohSikhenge’. The campaign has been unveiled alongside a TVC that showcases the Ultima and Ultima Pro range of premium alkaline batteries with increased power and longevity. 

Conceptualised by Ogilvy, the campaign shared a fresh perspective on play – highlighting its importance for children and moving the needle from play being just fun to learning through play with battery-powered toys. 

Anirban Banerjee, Sr. Vice President & SBU Head (Batteries & Flashlights) of Eveready Industries India Ltd. told e4m that as they revamp their Ultima series of batteries with a new look and feel as well as much smarter and enhanced capabilities, these batteries are much longer lasting and are primarily used for high-drain devices.

He also stated that these batteries are typically utilised in a wall clock or a remote and that this is the majority of the consumption that occurs.  Many of these households purchase high-drain gadgets such as blood pressure monitors, wireless mice, and smart remotes. They use a lot of battery consumption, so it's better to charge them with alkaline batteries. As a result, there is some segmentation in the market where standard products use regular batteries and some high-drain devices utilise these alkaline batteries and among these, toys are one of the battery guzzlers. 

"To ensure consumers that the best type of batteries for these products are the entire ultima range," he said. The emphasis is on the notion that in a generation where kids prefer to watch TV or online and have a lot of screen time, it is sometimes better for them to play with toys since playing establishes a lot of different kinds of learning and these learnings do not end when the child plays. Therefore for those toys, we recommend Ultima.” 

The TVC campaign depicts a mother's point of view as her young children play nonstop with battery-powered toys and engage in meaningful ways with others around them to learn vital values and life skills like friendship, sharing, and compassion on a daily basis. 

Banerjee claimed that the primary TG for Eveready Ultima batteries would be parents with children aged 2 to 12 years. "Kids in that age group consume a lot of toys, so that would be our core TG, but the extended TG would be for anyone who uses high-drain devices." 

The commercial also introduces Ultima, a new and upgraded alkaline battery line with 400% more power for longer-lasting toys and gadgets. This battery embodies Eveready's commitment to innovation and power, setting new industry benchmarks for excellence in both appearance and capability.  Banerjee added, “This launch signifies the fact that over the period of time we have treated batteries as low involvement products and thus from the next generation point of view we want to ensure that consumers are aware that in batteries there are segments.” 

The brand claims that the new range comprises the AA/AAA Eveready Ultima batteries, which present 400% longer-lasting, as well as the AA/AAA/D Eveready Ultima Pro, which boasts a remarkable 800% longer-lasting claim. 

These batteries aim at delivering a consistent performance across a spectrum of modern devices and high-drain applications which have become more common in recent years such as toys, video games, smart remotes, wireless keyboard/mouse setups, trimmers, and medical equipment. 

Banerjee stated that the campaign's marketing strategy and media mix will be headed by TV and digital, followed by other mediums. "Awareness will be the primary goal, so we are attempting to use TV and other facets of digital to maximise reach in addition to OOH and print, which will complement the media campaign. It will be a 360-degree blend." Banerjee informed that Eveready in the past few years has not been salient with the media. It was only in the last six to eight months that it came back into creating awareness and because of that larger portion of the company’s spend goes into TV, digital and print. On the advertising budget, he informed that by the end of this year, the company's ad budget would go up by 50-70% as compared to the previous year.  

Sukesh Nayak, CCO, Ogilvy India said, "Khelenge Toh Sikhenge" is an empowering platform that helps look at playing with toys in a new way. The games children play with their toys have a lot to teach them. Lessons on partnership, sharing, caring, teamwork, empathy and more can be learnt by continuous play. Eveready, India’s No. 1 battery with its new long-lasting Ultima batteries wants to own and build this empowering platform. And help enable every child in every household across India to learn something new and meaningful, every single day.”

Recently, Eveready also unveiled its new logo that marks a strategic brand transformation, forging a future-ready, self-aware brand committed to innovation, vibrancy, modernity, trust and empathy. 

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Asian Paints co-founder Ashwin Dani passes away at 79

The tycoon was also the non-executive director of the billion-dollar company, which is among Asia's biggest paint companies

By e4m Staff | Sep 28, 2023 3:29 PM   |   1 min read

Ashwin Dani

Ashwin Dani, the co-founder of Asian Paints, has passed away. He was 79. The tycoon was also the non-executive director of the billion-dollar company founded by Dani's father Suryakant Dani.

Dani joined the company, which is counted among Asia's biggest paint companies, in 1968.

The billionaire businessman had a Master's in polymer science from the University of Akron, Ohio, United States, and a Diploma in colour science from Rensselaer Polytechnic, Troy, New York, United States.

He pioneered the technique of Computerised Colour matching in the Indian paint sector. He has been at the forefront of introducing many revolutionary products for the first time in India.

Dani also played a key role in setting up a joint venture between Asian Paints Limited and PPG Industries, Inc., US.

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Asics India onboards hockey sensation Manpreet Singh as brand athlete

As part of the association, Manpreet will wear Asics apparel and footwear during his training and competitions

By e4m Staff | Sep 28, 2023 3:22 PM   |   3 min read

asics

Asics, a Japanese sports performance brand, has announced roping in of Indian hockey sensation Manpreet Singh as its brand athlete.

“With a shared commitment of the brand's value, ASICS India is delighted to align with Manpreet Singh, a defender and the former captain of the Indian Men’s Hockey team,” stated a press release.

ASICS’ brand philosophy, "sound mind, sound body," emphasizes the need to maintain a perfect balance between mental and physical well-being. The brand envisions to not only supporting but also encouraging the young talent of the country to achieve new heights and set benchmarks. Following the brand's direction and ideation, ASICS India is onboarding Manpreet Singh as its newest brand athlete, considering his vision and dedication towards both sports and life aligns seamlessly with the brand philosophy, added the release.

Manpreet Singh Pawar, one of India's most celebrated hockey icons, has achieved remarkable success in his career. Under his leadership, India also won a bronze medal at the 2018 Asian Games, Silver medal at the Champions Trophy and Gold medal at the Asian Champions Trophy. He led the team to earn a Bronze medal at the Tokyo 2020 Olympics, ending India's 41-year wait for an Olympic medal in hockey. Singh has also been recognized for his individual achievements with the Arjuna Award and the FIH Player of the Year Award.

Rajat Khurana, Managing Director, ASICS India and South Asia,” We are delighted to announce ASICS India's association with Manpreet Singh as our newest brand athlete. We are glad to share that Manpreet stands as India's most revered Hockey icons and his inspirational journey shines as a guiding light for young athletes nationwide, perfectly embodying our brand philosophy of 'Sound Mind, Sound Body. Together, we look forward to inspiring individuals across the nation to embrace a holistic approach of well-being, where mental and physical health go hand in hand. We are confident that this association will help us inspire more people to achieve their fitness goals."

Talking about this collaboration Manpreet Singh commented, "As an athlete, my journey has been defined by unwavering commitment, teamwork and the pursuit of excellence. Joining hands with ASICS, a brand that shares my belief in the synergy of a ‘sound mind and a sound body’, is an exciting new chapter in my career. I am honored to be part of a brand that not only supports athletes but also encourages holistic well-being. Together, we aim to inspire and empower individuals to strive for their best, both on and off the field. I look forward to this incredible partnership and the journey ahead as we continue to champion the values of sportsmanship, resilience and balance."

As part of this association, Manpreet will wear ASICS apparel and footwear during his training and competitions. Last month ASICS India announced the onboarding of tennis star Sumit Nagal as well.

 

 

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Kapil Sharma and Pooja Hegde in Meesho's festive sale campaign

The ad is centred on the brand's ‘Mega Blockbuster Sale 2023’ campaign

By e4m Staff | Sep 28, 2023 2:44 PM   |   2 min read

Meesho

Meesho announced its festive ‘Mega Blockbuster Sale 2023’ campaign, conceptualized to highlight its core proposition of offering quality products at the best prices.

The ad campaign stars celebs Kapil Sharma and Pooja Hegde. "Through this campaign, Meesho aims to establish itself as the preferred choice for customers seeking the best prices and deals for their festive shopping needs. Meesho’s 0% commission model helps sellers provide the lowest prices on the platform. Meesho has recorded 140 million annual transacting users. This forms a sizable portion of India’s internet population and provides sellers with a wide customer base across the country. Enabling sellers to tap into a large and diverse customer base has boosted their earning potential," said the company. 

Commenting on the launch of the campaign, Nilesh Gupta, General Manager, Growth, said, “As the season of Diwali approaches, people are eagerly awaiting festive sales which encompass the best deals of the year. Indian consumers are becoming increasingly tech-savvy and compare pricing across platforms before making a purchase. Our messaging, ‘Meesho check karo’ reinforces that customers can avail of quality products at the ‘right’ prices on Meesho. With the adorable and quirky duo of Kapil Sharma and Pooja Hegde, we are enlisting humour to build a strong rapport with the audience and create a sense of relatability.” 

Commenting on his association with Meesho, Kapil Sharma, said, “Over the last couple of years, Meesho continues to be an ideal choice for customers looking at shopping from different geographies of the country. I am glad to be associated with a brand that takes diverse and ever-evolving customer needs very seriously and strives to provide them with the best shopping experience.” 

Pooja Hedge added, “As we embrace the festive spirit, I am delighted to partner with Meesho in bringing an extraordinary shopping experience for everyone. Meesho’s festive campaign is a testament to the joy of giving and receiving during this special time of the year. I'm excited to be part of a campaign that not only offers an incredible selection of products but also brings the magic of the festive season right to your doorstep.” 

The campaign will be amplified through television and social media platforms. With ~120 million product listings across 30 categories, Meesho aims to ensure that customers across India have a plethora of affordable options to choose from this festive season.

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Pak fan seeks 'mauka' for the 8th time in Star Sports' World Cup ad

The film aims to build anticipation and excitement for arch-rivals India and Pakistan's 8th faceoff during the ICC Men's Cricket World Cup

By e4m Staff | Sep 28, 2023 1:32 PM   |   2 min read

mauka mauka

When India and Pakistan face off in the ICC Men's Cricket World Cup, it's more than just a sporting event – it's a blockbuster that captures the hearts of millions of passionate fans. As the official broadcaster of the ICC Men's Cricket World Cup 2023, the Star Sports Network unveils a quirky and emotionally charged campaign film that aims to build anticipation and excitement for the match. With India maintaining a perfect record against Pakistan in the ODI Cricket World Cup, having won all seven encounters between the two sides, the upcoming clash set for October 14th, 2023, promises to be a mouth-watering battle that the world eagerly awaits.

The campaign highlights India’s ‘Wait for Eight,’ as they look to maintain their unblemished record against Pakistan in the ODI World Cup, while acknowledging the fervent hopes of Pakistani fans for their team's elusive victory. The film also encapsulates the emotions of Indian cricket fans who vividly remember the World Cup victories against Pakistan and eagerly anticipate another triumph. It also introduces an endearing twist as the ghost of a familiar passionate Pakistani cricket fan, still waiting for his 'Mauka' (opportunity) to see his team win against India in the World Cup, meets the confident Indian ghosts, symbolizing the unbroken streak of victories India holds against Pakistan in ODI World Cups. The film stars none other than iconic Team India all-rounder Ravindra Jadeja, popular Bollywood sensation Shehnaz Gill, and renowned stand-up comedian Akash Gupta. This exceptional ensemble cast seamlessly blends cricket and entertainment to deliver a campaign that is bound to strike a chord with fans across the globe.

The last game between the ‘Greatest Rivals’ (India & Pakistan) in Asia Cup 2023 was the highest-rated ODI match ever, outside of World Cups. The fervour and enthusiasm surrounding the encounter between these two nations will be at all-time high as they clash at the biggest ICC event in India after more than a decade.

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