What according to you makes a brand `hot’?
Brands become “Hot Brands’ when they are able to deliver on their promise and create an experience that the consumers will remember. The only criteria for Hot Brand is really consumer connect with high recall & popularity.
Ways in which you connect with the new age customers?
Through our stores & product offerings. Through forums & social media platforms. Through loyalty cards & customised engagements.
Has the Indian consumer changed the way they consume?
Its quite paradoxical actually, in some ways they have changed completely, while in other they have remained same as ever. Some of the behaviour patterns are timeless, reaction to stimuli hence the emotions remain same, communities & their behaviour remain same while evolving over time. What has changed though is the exterior and one has to decode till one finds the core human emotion and build the stimuli according to that.
Indian consumer is while living in a still developing country is catching a lot of new development at the same time as the developed nations, hence the paradox. So they way they consume remains same for certain categories & products and changes completely for some other categories. A lot of it about demand & supply– for example how they consume media has changed– how they consume brand communication has changed, but these changes are driven by the advent of choices & options, accessibility & availability rather than any inherent change in socio-psychological frame.
What makes Mumbai a unique brand?
It has been called the melting pot, the equaliser, where rich & poor jostle for space & earn their living & fulfil their dreams. The city never sleeps. Where the rains play havoc un-partially on every life, no social strata, caste or creed can differentiate itself….. But its forever alive & kicking….
The brand Mumbai’s uniqueness lies not just in the promise of the product or the dream world & aspirations that it creates but also from the heartbreaks & shortfalls. Its an unique brand– which thrives from the dichotomy of offerings. Its a brand where the negatives also work as positives. The consumers of the brand love it more so despite the negatives as it gives them a different positive self reflection, heightens sense of achievements, make one feel stronger tenacious.
Devendra Chawla is Group President Food FMCG Brands at Future Group.
He is also a speaker at Mumbai Brand Summit & Hot 50 Brands 2015.