Building a brand is key to scale up businesses, and this is what many leading strategists discussed during the Brand Insight 2021 workshop on April 16.
Leading strategist discussing branding strategies on the first day included Madhukar Kamath, Chairman Emeritus, DDB Mudra Group; Govind Pandey, CEO, TBWA India; Narayan Devanathan, CEO, Dentsu Solutions; Sourabh Mishra, Managing Partner, Branding and Co-Founder, Azendor Consulting; Viren Razdan, Managing Director, Brand-nomics; Rahul Prakash, Partner, Route to Markets Partners and Former Group Head, Global Trade Marketing and Distribution, Brand and Marketing Director for British American Tobacco UK; and Anisha Motwani, Founder and Director, STORM the NORM Ventures.
Sharing the marketing strategies of fashion brands, Achint Setia, Vice President and Head of Marketing at Myntra highlighted role of emotion in building a brand.
“How you make the customer feel is more important than what you give them in terms of tangible value. When we thought about our brand journey, we realised that what we wear greatly represents how we feel. Fashion has a very subtle role to play and we felt we needed to communicate with our customers through emotion,” Setia said.
In addition to Setia, other brand strategists also shared their thoughts on branding strategies. In a session on identifying the purpose of the brand, Anisha Motwani said, “Branding is what customers say about you when you are not in the room.”
Madhukar Kamath, while speaking on "Why Branding Matters" emphasised, "Brands are built on actions and not words. What you promise has to be delivered.”
Narayan Devanathan presented a ‘Master Brand Strategy' to arrive at the right positioning for the brand. “Positioning a brand has to be done very strategically, which involves gaining some advantage and at the same time sacrificing others,” the industry veteran said.
The two-day Brand Insight 2021 is being conducted by the Isha Leadership Academy, part of the Isha Foundation set up by Sadhguru. The program is focused on creating brands that help scale up businesses.
The second day will see sessions from brand experts Viren Razdan MD, Brand-nomics; Toshan Tamhane, UPL Chief Digital Officer and Sanjay Mehta, Joint CEO, Mirum.