Building Brands In A Competitive Landscape

At GoaFest 2024, a seminar titled "Customer-Centric Adaptability: Meeting Shifting Expectations and Maintaining Customer Loyalty in a Dynamic Environment" featured an esteemed panel of industry leaders. The guests included Asha Kharga, Chief Customer & Brand Officer at Mahindra Group; Siddharth Roy Kapur, Founder & MD of Roy Kapur Films; and Tarun Puri, SN Operating Partner at Lighthouse Funds. The session was moderated by Anuradha SenGupta, Founder of @anuradhasays.

Asha Kharga highlighted Mahindra's approach to customer loyalty, saying, “Can we help you sell your earlier vehicle through Mahindra First Choice? Can we give you a great rate through Mahindra Finance? And how do you really bundle these offers and connect with customers? There is the opportunity of loyalty, but also the opportunity of a top line. Despite being a 100,000 crore company, it's early stages for us. The cost of reaching these customers is very low, which we see as a great opportunity.”

Tarun Puri discussed Lighthouse Funds' investment strategies, focusing on new consumer goods companies in personal care and healthcare. He noted, “There is a big rush to invest in companies creating the next new luggage brand, snack brand or cosmetic brand. Previously, with ample money, time and strong distribution, success was easier. Today, digital and non-digital brands face intense competition. Brand building is crucial. You must understand your brand’s purpose, the unique proposition and whether it will lead to significant profits or offer a distinct advantage.”

Siddharth Roy Kapur reflected on the evolution of movie marketing, stating, “Over the last 20 years, movie marketing has evolved from simply releasing a trailer and poster to integrating branded content, road shows and mall visits. The media landscape was less fragmented, so minimal promotion sufficed. Now, extensive digital and television presence, along with massive print and advertising budgets, especially for smaller films, are necessary. At UTV, we pioneered this shift, where marketing budgets for some smaller films surpassed their production costs.”

The seminar provided valuable insights into the importance of adaptability and innovation in maintaining customer loyalty and thriving in a competitive market.

Rajany Pradhan

BW Reporters The author is Principal Correspondent with BW Businessworld