MAM

ICICI with $14.9 bn is lone Indian in Brandz top 100 list

MUMBAI: India‘s largest private bank, ICICI, appeared for a second consecutive year in the BrandZ Top 100 ranking, at No. 53, with a brand value of $14.9 billion.


Also, with a rise of 27 per cent in brand value to $8.2 billion, Infosys was one of the most valuable technology brands in the world and is expected to soon rank among the Top 100 Most Valuable Global Brands across all sectors.


The sixth edition of BrandZ Top 100 Most Valuable Global Brands study had a special section dedicated to brand India. In this section, the study commissioned by WPP and conducted by Millward Brown Optimor described the factors fuelling the growth.
 
Although, along with all the praises to brand India, the study warns that Indian inclination to look to the past or to the West for inspiration might restrain the growth of "Brand India".


The study claims, however, that the Indian brands will surge ahead, powered by a combination of positive fundamentals - economic vitality, a diverse and enterprising population and a cohesive, stable, muddled democracy.


According to the study, the appearance of Indian banking and technology brands in the BrandZ ranking reflects both the prominence of these sectors in fast-growing markets and an expansion in brand literacy particular to India.


Brands that many Indians until recently saw only in the suitcases of relatives returning from North America or Europe are now encountered every day in local shop windows.
 
Indians appreciate the opportunity to own brands as living circumstances in India steadily improve. Perhaps drawn by the novelty of the brand explosion, Indian consumers even enjoy advertising, the study remarks.


In a multiplier effect, the more Indian consumers are exposed to brands, the more they desire them. The expanding middle class of educated young people, often employed in technology, contribute to the purchasing power.


The economic progress, particularly leadership in information technology, has altered India‘s image of itself as well as the world‘s postcard view of India as simply colorful and exotic.


Elaborating this aspect the report said the international reach of ICICI, Infosys and large Indian conglomerates, such as Tata, which operates in more than 80 countries and gains annual revenue of almost $68 billion from businesses including steel, chemicals, hospitality and communications, has done their bit to change India‘s image.


The acquisition of Jaguar Land Rover made Tata a player in the luxury end of the international car business.


"Energy, confidence, creativity and purpose characterise "Brand India" today and point to its potential", the study asserts.
 
 
Choice brings challenges


The study says that "sometimes, Indian brands are seen as too available and insufficiently inspirational". This factor leads to stiff competition from international brands.


The report claims Indian conglomerate brand Godrej exemplifies this trend. Despite being well respected across many product categories, the brand faces international competition from LG, Samsung and Whirlpool, in its appliance business.


In cars, Maruti (the Indian brand of Suzuki) faces increased competition from international contenders including Honda, Toyota and BMW.


Some of the Unilever and P&G brands, long established in India and seen as local, now are emphasising their global credentials, the WPP report claims.


Advertising for Dove, for example, features not only Indians, but also women from across the globe. Consumers view brands like L‘Oréal or Garnier as international and delivering the quality that implies, the study asserts.


Large Indian conglomerates, such as Bharti, Godrej, Reliance and Tata, occupy an influential and secure place in the minds of consumers. Trusted, even revered, these conglomerate brands regularly introduce consumers to new product categories.


Although a conglomerate may itself be new to a category, its brand guarantees competence and compensates for any lack of experience, the report clarifies.


Major brands evoke trust


Indians rely on these conglomerate brands for relatively risk-free introductions to new products and experiences, the study states.


Citing the example of Godrej Nature‘s Basket, it said that consumers immediately accepted the new retail format, because it came with a reassuring brand.


Talking about Tata and ITC, the report says a conglomerate brand becomes especially important in high-risk, high-investment ventures.


Tata moved into real estate - from high-rises in Bangalore to housing developments in Delhi, while ITC began diversifying its portfolio during the past decade because of the health issues and regulatory challenges faced in its core business, cigarettes.


ITC now markets food, hotels, personal care and cosmetics and other fashion-focused products and services.


In a country known for conventional mom-and-pop stores, the conglomerates are introducing modern retailing, the study quips.


For example, Reliance, India‘s largest private-sector enterprise, operates in many retail channels, including food, apparel, footwear, home improvement and consumer electronics.


Brand India: Colorful, confident and creative


Discussing about India‘s international agreements, the study mentioned Tata‘s joint venture arrangement with Tesco, the global hypermarket chain based in the UK and Bharti‘s JV with Walmart.


Culture and values


The success of Indian brands stems from India‘s cultural peculiarities, the study asserts.


Elaborating these particularities in an interesting way, the report says, in making some of life‘s major decisions - whom to marry or whom to vote for - Indians are especially aware of the "power behind the throne."


In marriages, that notion means knowing the background of the in-law family. In voting, it means understanding the influencers in the political parties. This understanding in part drives the growth of brands like ICICI and Infosys, the report says.


ICICI (formerly Industrial Credit and Investment Corporation of India) projects trustworthiness and comfort in its banking business. In insurance, ICICI emphasises the joy of life in a category often associated with the possibility of death.


The brand ICICI projects warmth. Its use of the color red in branding evokes the red band that an Indian bride wears in her hair to signify lifelong bonding, the study quips.


The Infosys culture is egalitarian in its approach to the workforce. Infosys is known for its generous employee stock-sharing programme, and it is closely associated with government programmes to improve the national welfare, the report remarks.


Wipro, a competitor, has a similar story, with a major presence in education and social welfare. Both Infosys and Wipro are values-driven, knowledge-based companies. Both companies are entrepreneurially led.


Indian brands derive strength from these deep-rooted values as they build commercial success while at the same time attempting to transform a nation of 1.1 billion people, the study concludes.
 

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/pickel_1.jpg?itok=b5_hpALu
Mother's Recipe undertakes initiative for war heroes

MUMBAI: India’s homegrown pickle brand Mother’s Recipe initiated a new campaign called, tribute to our motherland to salute the supreme sacrifice and selflessness of our brave men in uniform. Under this initiative, the company will contribute Rs 3 from the sale of every special edition Mothers...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/India.jpg?itok=-GJOwCdN
Is India ready for the impact of AI on marketing?

MUMBAI: From self-driving cars to voice assistants Siri and Alexa, artificial intelligence (AI) is expeditiously becoming popular. While one may think of AI only as intelligent robots or technology, it encompasses everything from Google’s search algorithm to e-commerce to geo-target and...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/kumar.jpg?itok=0Z79MabV
Kajaria Ceramics touches patriotism with Akshay Kumar

MUMBAI: Kajaria Ceramics has launched another new ad campaign with its official brand ambassador and Bollywood actor Akshay Kumar. The company recently launched a TVC for its bathware solutions brand KEROVIT with Anushka Sharma.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/somar.jpg?itok=IA5Yawi1
Duroflex launches sleep marathon with Milind Soman

MUMBAI: We are living in the time of the gig culture where staying up all night to meet project deadlines is celebrated. However, long term effects of lack of sleep are hardly discussed. Keeping this in mind, Happy mcgarrybowen, the creative agency from Dentsu Aegis Network, has conceptualised the...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/20/Kunal-Madhukar.jpg?itok=_VYqvmli
Ogilvy India makes key top-level appointments

MUMBAI: Advertising agency Ogilvy India has announced the appointment of Prem Narayan as its new chief strategy officer and Balagopalan Ganapathy as the new head of planning, Ogilvy Mumbai. Narayan and Ganapathy have started in their respective roles with immediate effect.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/anurag.jpg?itok=svdNEKHU
SVG Columbus debuts with big wins at IAMAI's 8th India Digital Awards

SVG Columbus has been honoured with 2 Golds and 1 Silver by the Internet & Mobile Association of India (IAMAI) on its debut. For the record, SVG Media was acquired by Dentsu Aegis Network in April 2017. Post the acquisition, SVG Media launched Columbus – an agency focused on Data Driven...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/Kantar.jpg?itok=xfY0XRLu
81% Indians find ads intrusive: KMB study

MUMBAI: A well-executed multichannel campaign is a thing of beauty. But over one in four of the campaigns we see are not well integrated, and consumers are much more critical than marketers about campaign connectivity. Also, less than half of all campaigns take full advantage of different channels...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/Vivo_0.jpg?itok=fExeXtdx
Vivo YouTube campaign saw better response using Vogon

MUMBAI: Chinese smartphone brand Vivo rolled out a digital campaign - ViewTube, giving a new wave to YouTube’s ongoing TrueView Ads. With the launch of its V7 model, Vivo leveraged Google’s Director Mix tool to launch a campaign that offers a unique creative solution to gauge higher viewer...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/19/bigbazzar.jpg?itok=0GsnoZ_x
Big Bazaar launches game to promote R-day sale

MUMBAI: Hypermarket chain from Future Group, Big Bazaar, has created a mobile game to promote its mega property, ‘Big Bazaar Sabse Saste 5 Din’. Designed and executed by L & K Saatchi & Saatchi, Big Bazaar’s innovative deal game is set to transform the shopping experience in India....

MAM Marketing Brands

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories