Pitch CMO Summit: Successful brands have a purpose beyond profit: Arjun Ranga
At the Pitch CMO Summit Bangalore 2019, Arjun Ranga, MD, Cycle Pure Agarbathies spoke about ‘Building A Meaningful Brand’ during his valedictory address
Published - May 31, 2019 1:04 PM Updated: May 31, 2019 1:04 PM
At the recent Pitch CMO Summit in Bangalore, Arjun Ranga, MD, Cycle Pure Agarbathies spoke about ‘Building A Meaningful Brand’ during his valedictory address.
According to Ranga, a meaningful brand is one that clearly defines brand purpose. In his view, successful brands have a higher purpose which is beyond just profit.
“A meaningful brand goes just beyond the product and it needs to play a role in society. If we talk about our brand, we are not in the business of agarbattis, we are into spirituality. We as a brand produce 12 billion agarbattis a year and help fulfil the aspirations of billions of Indians who use this brand.”
Ranga also underlined that meaningful brands are the ones that do what they say. He also believes that all meaningful brands demonstrate their purpose day in and day out.
“A good example of a brand which has gone beyond the marketing techniques is brand Narendra Modi. Many ask –can we exist or can the nation exist without him? That is a great example of making a meaningful brand,” said Ranga.
“Purpose has become the biggest reason for people to buy a particular brand and consumer preferences and market forces are shaping a new culture of brand engagement. We always think from a consumer’s perspective and three years ago, we started looking at the brand from a strong customer standpoint and it has paid off in a big way”, he added.
Ranga also spoke about standing for the core ethos of a brand and cited examples of Steve Jobs, Jeff Bezos and Elon Musk who have embodied their brands.
Speaking about the factors that are critical to building meaningful brands, Ranga listed the organisational culture as a core tenet to making it possible.
“Fancy marketing taglines alone cannot help. Culture is the first product of any business and a meaningful brand will always depend on ethical business practices to build a lasting identity.”
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