What according to you makes a brand `hot’?
A brand is “hot” when it becomes an integral part of customer’s lives, when the customer stops referring it to as a product that they consume but as someone (not something) they interact with. The moment when your brand starts standing for a higher order benefit in customer’s minds and not a pure functional benefit, you brand becomes hot.
A hot brands holds promise, creates ripples in a saturated market and has ability to cross both cultural and geographical boundaries.
Ways in which you connect with the new age customers?
The ways that a customer is consuming information (and hence your communication) is changing but the basics still remain the same. If you have understood the needs of your customers, identifies the gaps that exist which are not being addressed by your competition, your communication is compelling and clutter breaking and you are present where the customer is – the customer will absorb your communication and act accordingly.
Has the Indian consumer changed the way they consume?
Oh yes, The Indian consumer is getting savvier as I write this. There is greater exposure, greater awareness, and greater comprehension of thousands of products / brands available in the Indian market. Today, trends also rule how the Indian consumer behaves – be it in any part of the country. The consumers today like to enjoy their fruits of labour rather than putting it away for a rainy day.
What makes Mumbai a unique brand?
I think Mumbai is more like a state than a city. A ‘state’ where paradoxes exist, which is what makes it such a unique brand. It houses movie stars and underworld dons, fisherfolks and crorepatis, India’s most prolific film industry, Asia’s biggest slum as well as the world’s most expensive home. It is India’s fashion epicentre and also is the country’s financial hub. It is resilient, welcomes everyone and has its own Mumbaikar culture. Actually, the simple fact that we are referring to it as a ‘brand’ sums it all up!
Abhishek Gupta is an accomplished marketing professional with over 16 years of experience in sales & marketing in both Retailing and Financial services. He is currently working with Edelweiss Financial Services as Senior Vice President and Head – Marketing.
He was previously with The Mobile Store Ltd (Essar Group) as CMO where he led the marketing function and was a member of the senior leadership of the company.
Prior to this, he was with Wal-Mart India (Bharti Retail Limited) as General Manager – Marketing. His other stints have been with Spencers Retail Limited, ICICI Bank and Shoppers Stop Limited.
Abhishek holds a Bachelor’s Degree in Engineering from Pune University and a Post Graduate Diploma in Marketing. He was honoured as one of the 25 Most Outstanding Marketing Professionals of India by the World Brand Congress and CMO council of Asia in 2013-2014. He is also a regular speaker at industry conferences and seminars.
He is also a speaker at Mumbai Brand Summit & Hot 50 Brands 2015.