| Citing the example of US coffee chain Starbucks, which
changed people's notion of coffee, Lazarus said that instead of stressing
on media advertising, Starbucks concentrated their efforts on giving
their consumers a great store experience and that's what has worked
for them.
Dr. Dreze, who spoke on the role of brands in developing markets,
began by saying that 79 per cent of the US population was over 18
years of age and identified with Nike's slogan "Just Do It".
On the other hand, 47 per cent identified with the right to life,
liberty and the pursuit of happiness as set forth in the Declaration
of Independence! His point being that the youth is out there waiting
to lap anything that comes their way and that; brand can benefit
from this. Pointing out the difference between products and brands,
Dr. Dreze said, "Products are tangible, can be copied, can
be outdated where as brands are intangible, unique, potentially
timeless and form basis of relationships."
Zeroing on India, Dr. Dreze said that Indians were changing from
being purchasers to consumers. Referring to psychologist Abraham
Maslow's theory of hierarchy of human needs, he said that as the
needs of the consumers evolve, so does their requirements from brands.
Mukerjea went the whole nine yards on how brand "Star"
had evolved from the time it was launched in 1991. Picking up from
Dr. Dreze's point on how the number of young people ousts the number
of old, Mukerjea said, "India has evolved from being an ancient
civilization to a young country where there are 56 per cent people
where below 25 years of age. Almost 336 billion are below 15 years,
121 billion are between 15-20 years and 760 billion are below 70
years. The consumers today are moving from the 'saving now and buying
later' mindset to 'buying now and paying later' mindset."
Star's brand philosophy was the 'e' (enhancement) factor, wherein
they enhanced the channel's look and feel, moved from analog to
digital, got superior and compelling content and held a strong grip
on the consumer's pulse. "Our aim was to create a strong brand
equity and value to all our stakeholders - clients, employees, investors
(Rupert Murdoch), business partners and cable affiliates,"
Mukerjea said.
Star stressed on localisation by enhancing the brand value and
when BBC and MTV moved away from their platform, the media conglomerate
went the whole hog in making Star News and Channel [V] more localized.
The objective of the 'Next Wave' as Mukerjea described it as was
to have a high presence in cable and satellite homes, which was
100 per cent owned by the terrestrial player Doordarshan. "Thinking
big is very critical and hence we created a show (read Kaun Banega
Crorepati) that would give us more ratings that an India Pakistan
cricket match and would cut across all socio-economic groups.
The launch of Star News, Star Gold, Star Utsav, Star Vijay, Radio
City and most recently Star One has been an effort by Star to make
itself a multi-service and multi-platform brand. "If we launched
Star One without the Star brand, it would mean that we are not extracting
full value of our brand," stressed Mukerjea.
Gazing the crystal ball, Mukerjea said since India has multiple
languages, in the coming years the next big thing will be regional
channels and their steady rise, which would tap newer markets. Apart
from that, broadband, wireless, DTH and international syndication
would be the way forward.
Pandey, on the other hand, assembled a vintage collection of ads
churned out by O&M based on different themes of love, humour,
drama and music and how each struck a different chord with the consumer
irrespective of what the brand's image was. Citing the oft repeated
example of the Cadbury's worm controversy, Pandey said, "When
you connect a brand to people's heart, you have a right to be forgiven.
In three months, post the controversy, Cadbury's changed their packaging
and in six months consumers forgave."
Indian School of Business deputy dean Ajit Rangnekar wrapped up
the forum by saying that ISB was associated with it because the
school was conceived by the industry and this was a way to give
back something to it.
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