Leading consumer durable company Videocon Industries is all set to undertake an image makeover exercise and will be projecting itself differently. The company will position itself as a premium brand with focus on eco-friendly and youth oriented products. ?As part of the strategy, the company has launched its new tagline ?experience change’ at an event promoting the International Indian Film Academy (IIFA) awards?, KR Kim, vice chairman and chief executive, Videocon Industries told FE.
As for the rationale behind the move, Kim explained, ?The aim is to bridge the gap between mass and premium brands. Videocon has already started developing new hi-tech products and is trying to bring more products across categories in LCD, frost free, automatic washing machines and air conditioners so as to address the premium segment. Thus, we feel it is becoming imperative to upgrade our customers in to buying a premium product?. Videocon has always been seen as a ‘value for money’ proposition and has created a strong presence there, says a marketing expert not wanting to be named. However, the premium segment is where the margins exist. In the mid segments it is a volume driven market where price sensitivity is much higher.
To get the positioning and the presentation right Videocon Industries has already roped in McCann and Zenith Optimedia as its advertising and media agencies. ?Besides, we have also tied up with the IIFA awards this year as one of the co-sponsors as we feel the IIFA awards is an ideal platform and getting associated with such an event is one of the steps for building our brand awareness. Through our new tagline Videocon brand will appeal to a ?youth minded approach? while also focusing on eco- friendliness which will hopefully address the aspirations of consumers,? Kim added. Currently, Videocon is working with McCann as its ad agency and Singapore-based Interbrand for corporate brand development.