Anand Narasimha, Professor, Brand Mktg and Brand Consultant, Jagdish Sheth School of Mgmt
Anand is the professor of Brand Marketing and Brand Consultant at the Jagdish Sheth School of Management.
How well do you know about Brand Marketing? Would you like to polish your knowledge with us?
Our guest for today is one of the top 5 rated Brand Marketing professionals in the Asia Pacific.
We are delighted and privileged to talk to Mr. Anand Narsimha for this episode of The Brand Called You.
Anand is also the professor of Brand Marketing and Brand Consultant at the Jagdish Sheth School of Management.
Is Branding an art or a science?
Talking about Branding being an art or science, Anand says that it is both.
Earlier, when there used to be no internet, less data, and technology to work with, Branding was more of an art. However, today with the entry of real-time data, tools, and technological platforms, Branding has become a combination of Art and Science.
Shifts in Brand Marketing: Then versus Now
Anand tells us that earlier branding was more about gut feeling. Companies did not have much data about their consumers. They used to do research on a small sample of consumers.
Generally, by the time the results of the research came out the trends changed. However, we have the real-time data and tools now which have made certain shifts in Brand Marketing. These shifts can be;
Engaging with the Customers
Anand says that we are living in an over-communicated society. The availability of information to everyone has increased exponentially. So it is quite important and challenging for brands to engage with their consumers.
The age of Hyper-Personalization
Anand says that there used to be homogeneous segments of markets earlier. The Brands could easily use those segments and make homogeneous Marketing offers to a large body. Today, with the help of data and tools like AI, brands can personalize marketing for their consumers.
Anand tells us that young consumers are cynical about the brands. They are very discerning and less loyal to a brand as there are many choices in front of them. Anand believes that the way a brand promotes itself should move from mind space to living space.
Today, a brand needs to tell the consumer that I am important in your life, whereas, earlier it used to be just catching attention.
What is it that the successful brands do which is sustaining them over generations?
Anand believes that there are different things that a brand needs to do to sustain itself. They are;
- A brand must constantly re-engineer and reinvent itself to keep up with changing consumer mindsets and market situations.
- If a brand wants to sustain itself, it needs to be dynamic and not static.
- The Brand must play a role in your daily life. He says that it doesn’t mean buying them daily, but thinking about them or using them on a daily basis.
- The brand should not be easily substitutable. The substitute ability does not only mean functional but brands should try to make emotional connections with their consumers.
Anand tells us that Marketing today is being called Marketing 4.0. His take on the Marketing 4.0 is that it is a combination of three things;
-The power of creativity
-The beauty of data
-The magic of technology
Brands and Social Media
Anand believes that the traditional model of advertising is dying. Earlier advertising was more in the face and buy me now kind of promotions. As the consumers have become more cynical, they see it as an ad and switch it off.
The advertisements are now changing into softer and subtle marketing communications which are being called ‘Content Marketing’. Content marketing is more engaging for the consumers.
Anand talks about the new model of advertising acronymed as POEM, which is Paid, Owned, Earned Media.
Paid Media is used to create awareness and salience for a brand.
Owned Media is a brand’s social media assets and website. It is used to give the consumers an experience of the brand.
Earned Media is all about the conversations that your campaigns are able to generate among the consumers.
Prof. Anand is a corporate turned academician with over 30 years of leadership experience spanning Brand Marketing, Advertising, Consulting, and Academics. He is also a faculty resource at IIM-Bangalore for Executive Programs and for companies such as Hindustan Unilever Limited (HUL).
His teaching and research interests are in the areas of Brand Management, Marketing Communications, Consumer Culture, Shopper Marketing, Creativity & Innovation.
He has a rich cross-category experience having navigated brands for leading Indian and Global corporations such as P&G, Nestle, Dabur, Tata Tea, ITC, Britannia, Cavinkare, Mother Dairy, BPL, Sony, Samsung, Hyundai, TVS Motors, Hero Motors, Epson, Benetton, Tata AIG, HSBC.