Building Brands: Balancing Tradition & Innovation For Long-term Success

Building a strong brand is more complex than ever in the realm of marketing. Building brands is a key factor in ensuring relevance and business outcomes. It is evident that various approaches reveal valuable insights and strategies that can help businesses navigate these challenges effectively. 

Binit Kumar, DGM of Marketing for Oral Care at Dabur India initiated the discussion by challenging conventional marketing wisdom around segmentation, targeting, and positioning. He also stressed the importance of brand narratives, suggesting that what matters most is not what the brand evokes but what evokes the brand in consumers' minds. This approach, he argued, leads to more effective targeting and brand recall. 

Kumar highlighted the importance of reaching as many consumers as possible rather than focussing on elusive, narrowly defined segments. This approach, he argued, is more effective in a market where consumer loyalty is often polygamous rather than monogamous. 

"It's not about what your brand evokes; it's about what evokes your brand. Understanding category entry points is crucial in determining what drives consumers to think of your brand at the right moment," he explains. 

Data-driven Customisation
The Indian fintech market is expected to reach $150 billion by 2025, as highlighted in industry reports by KPMG, emphasising the importance of data-driven customisation in a rapidly growing sector. 

Ishan Bose, Chief Marketing Officer, of KreditBee, shared insights from the BFSI sector, where data-driven strategies play a pivotal role. He discussed the importance of understanding different consumer cohorts and tailoring strategies to their specific behaviours. “In FinTech, we’ve identified that beyond a point, specific consumer cohorts behave more favourably towards our propositions. Customising communication and strategies based on data is key to driving conversions across these cohorts,“ he states. 

Bose highlighted the delicate balance between broad consumer reach and targeted messaging, emphasising that while mass reach is important, precise targeting ensures better conversion rates. "Reaching out to more users is essential, but the real game-changer is how you use data to customise your communication and conversion metrics," he explains. 

Long-term relevance
Chris Croning, Country Sports Marketing Manager, Red Bull India delved into how Red Bull maintains its brand relevance amidst changing market dynamics. He broke down the brand’s strategy into tangibles and intangibles, with a strong focus on emotional connection and credibility. 

"The foundation of brand loyalty lies in wowing your customers with great experiences and connecting with them on an emotional level. Being unique and aspirational in a cluttered market is how brands can stand out," he comments.

Croning also discussed the importance of credibility and innovation, using various partnerships with athletes as an example of how brands can integrate itself into the sports community in an authentic and meaningful way. "Credibility in your brand’s integration and contribution to the community is what builds long-term brand love and top-of-mind recall," he adds.

Targeting Youth
About 60 per cent of India’s population is under 35, as reported by the United Nations and youth engagement has become a critical focus for brands across all sectors. 

Ashutosh Choudharie, General Manager of Marketing at Vi John explored the challenges of targeting youth, particularly for legacy brands. He emphasised the need to maintain a balance between appealing to new, younger consumers while retaining the loyalty of long-standing customers. 

"Targeting youth is essential, but not at the expense of your core consumers. Brand building takes time, and it’s about striking a balance between evolving with new audiences while staying true to your brand’s core values," he says. 

Choudharie stressed the importance of patience in brand building, pointing out that performance marketing often pushes for quick results, but sustainable brand growth requires a more measured approach. "Brand building is not a quick fix; it requires time, credibility, and a deep understanding of what your brand truly represents," he remarks. 

Simplicity Is Key
Sandeep Shukla, Senior GM and Head Marcom, Global Operations, Jaquar Group, offered a unique perspective from the home solutions sector. He advocated for simplicity in brand strategy, warning against overcomplicating marketing approaches. "In a world full of marketing jargon, the complexity of simplicity cannot be overstated. Deliver high-quality products and keep your strategies straightforward—this resonates most with consumers," he notes.  

Shukla shared examples of how Jaguar Group maintains brand integrity by focusing on quality and staying connected with the consumer’s core needs rather than overloading them with complex messaging. "Customer needs are simple—provide them with a high-quality product, and the brand loyalty will follow naturally," he further adds. 

Bhavesh Talreja, Founder and CEO, at Globale Media emphasised the evolving nature of brand strength and its critical role in the market. "In today's hyper-competitive market, building a stronger brand isn't just about being seen—it's about being remembered. The brands that resonate are the ones that connect deeply, evoke emotion, and stay relevant amidst change," he asserts. 

The panel discussion offered a wealth of insights into the challenges and strategies for building strong brands in today’s market. From understanding consumer behaviour and leveraging data to balancing tradition with innovation, these industry leaders highlighted the multifaceted nature of brand building. As the market continues to evolve, these strategies will be crucial for brands looking to maintain relevance and foster long-term consumer loyalty.  

Musharrat Shahin

BW Reporters The author is working as correspondent with BW CIO