NEW DELHI: Increasing numbers of companies in India are seeking to strengthen their corporate brands, reflecting changing preferences among consumers in the country.
Figures from TAM Adex, the media monitoring specialist, showed the volume of TV spots promoting a corporate brand, rather than individual goods and services, have grown by 40% in India this year.
One of the firm's placing a major focus on this strategy was Hero MotoCorp, the motorcycle manufacturer, which has undertaken a rebranding exercise, after dropping the title Hero Honda.
The organisation took top spot in TAM Adex's rankings of the enterprises pursuing this approach, not least due to its "Hum Mein Hai Hero" campaign to ensure shoppers are aware of its new name and feel confident about making big-ticket purchases.
"We preceded it with a period where we did not advertise at all. The result was quite effective as it led to a very smooth transition for us," Anil Dua, SVP, marketing and sales, Hero MotoCorp, told the Economic Times.
"For a category like ours, there is more involvement on behalf of the customers. Hence, they need more assurance and tend to see the company from closer quarters," he says.
The other leading players included in the charts were Maruti, the carmaker, Adidas, the sportswear giant, Aditya Birla Group, the conglomerate, and the Life Insurance Corporation of India.
Mahindra & Mahindra, active in sectors from retail to automotive, was another member of this group, and has adapted its outlook to suit the evolving attitudes of shoppers.
"Consumers are asking questions to corporates about their philosophy, practised values, stance on sustainability and contribution to the society," said B Karthik, Mahindra & Mahindra's general manager, corporate brand management and business transformation.
OCM, the apparel manufacturer, has also recently rolled out an updated logo, previously untouched since 1924, as it aims to demonstrate a range of core credentials, to be backed by a major ad campaign.
"This is ... a game changing strategy with real, on-ground changes in product innovation, exploring new markets, fresh product offerings and energizing the trade channels," said SK Singhal, the firm's CEO.
Data sourced from Economic Times/Campaign Asia; additional content by Warc staff