Dwelling on these issues Godrej Consumer Products Ltd (GCPL) president and executive director HK Press said: Companies should adopt innovative methodologies to get an insight into customer needs and accordingly develop a branding strategy.
According to Indian School of Business (ISB) dean Vijay Mahajan, companies should create a need in the market and constantly track the latent requirements of customers. One of the ways of doing it, according to Mr Mahajan, is to monitor product acceptance and customer reaction and then keep improvising and innovating constantly. In marketing, the challenge lies in bringing about a change in consumer behaviour to buy the product. Technology has little meaning in the entire framework, he added.
According to Nokia India Ltd head (marketing) Gautam Advani, the new-age marketing strategy should incorporate a consumer-led design. A consumer-led design is all about delivering the appropriate emotions that the products stand for. Brands should create and communicate a tangible proposition to trigger the first purchase from the customer, Mr Advani added.
According to Strategic Marketing Consultants Rama Bijapurkar, the thrust should be in identifying the evolving customer behaviour and incorporate them as a positioning for the brands. Consumers aspirations need to assume top priority, she said.
In essence, the panelists affirmed that brands from the FMCG segment need to constantly inquire the dormant customer expectations and deliver a holistic marketing solution.