Why it matters
India’s gross domestic product growth rate dropped to 4.5% in the quarter of July-September, a six-year-low. The numbers going forward do not look encouraging either. Key sectors in the economy are taking a beating while unemployment and inflation numbers are shooting northwards. The Indian consumer in a situation like this is looking to save for a rainy day while marketers are cutting back on ad spends. In a vicious cycle, marketers need solutions and they need them quick.
- Stay on the growth trajectory and continue investing in brand building to ensure your brand is top of mind when consumers are ready to buy.
- Forget about your own targets, think about the hardships and insecurities faced by consumers and empathise with them.
- Use creative and memorable communications to remind consumers about why your brand matters to them, the role it plays in their lives, and the reason they should choose it.