MAM

Marketers need to experiment and reinvent through recession

MUMBAI: As the economic downturn has picked significant holes into consumer pockets thereby forcing buyers to become exceedingly cautious is their spending habits, marketers need to engage prospective buyers through experimentation and reinvention to "split that purse lace open."


Speaking at the World Brand Congress 2009 forum, Infosys head global branding and corp marketing Aditya Nath Jha said, "Marketers have to reshape their marketing strategies in a bid to get their brands into the consumer‘s pocket. And this can be done, by shifting focus from divulging information to creating direct consumer connect."
 
Jha also believes that companies need to move away from building product brands to creating strong company brands.


"It‘s not just the products themselves, but the company behaviour that affects the brand identity of the products. Therefore, it is very essential to construct the corporate brand and live up to the brand proposition." 
 
Meanwhile, Leo Burnett national creative director KV Sridhar noted that unlike earlier days, when marketers were busy chasing consumers, today marketers need to be found by the consumers.


"Today consumers are all over the information network and are always on the hunt. Thus, unlike yesteryears, now marketers have to alter their swing from chasing to being found; from shouting to listening," Sridhar explained. 
 
For Shantanu Bhanja, Hindustan Times VP marketing, the most convenient route to reach consumer pockets, especially during downturn, is by creating two-way interaction using the digital path.


"Recession is the best time to build brand loyalty and to generate that, one has to co-create brands along with the consumers. This so-creation can be led through consumer interactions across various digital platforms including the internet and mobile," Bhanja added.

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