Recently Parle Products, the maker of the favored Parle-G biscuit, introduced the launch of its Parle-G oats and berries providing, and prolonged the Parle-G model to Kismi cinnamon. For a model not recognized to take impulsive selections, these extensions beg two questions: Why? And why now? Mayank Shah, senior class head, Parle Products, explains that the brand new oats and berries variant is in response to shoppers at this time searching for out more healthy choices. The Kismi cinnamon biscuit is geared toward coffee-drinkers, given the compatibility in flavour. “Parle-G has always been viewed as a healthy biscuit option, and our new launch reinforces that perception. Given that Parle-G and Kismi are legacy brands that have been part of everyone’s lives, the idea was to expand the offerings in response to specific consumer needs,” he says. Parle is focusing on shoppers within the 15-25 age bracket with these new launches.
Parle-G is the newest of a number of manufacturers which might be reinventing themselves in response to altering client preferences.
Beyond beauty modifications
Life insurance coverage model Bajaj Allianz could also be simply over 20 years outdated and therefore a comparatively younger model, however it operates in a class that’s seen as highfalutin, and dominated by a behemoth like LIC. Just earlier than Covid struck, the model underwent an overhaul with a brand new tagline and communication geared toward demystifying the class whereas speaking on to millennial shoppers. An in-house survey revealed that younger shoppers at this time search to attain their life objectives quicker than their dad and mom. “We anchored our identity on the premise of being a life-goal enabling brand. Our strategy hinges on three pillars – simplification, being purposeful and digitalisation,” says Chandramohan Mehra, chief advertising officer at Bajaj Allianz Life Insurance.
Reinventing a model’s picture is not any imply feat, particularly when the challenges contain retaining it related and relatable. Neeraj Sharma, senior VP, planning, L&Okay Saatchi & Saatchi, notes some manufacturers decide to do that the straightforward method by roping in a younger celeb or by means of cool imagery or a rap track. However, manufacturers must transcend superficial modifications when repositioning themselves. “Companies can do this by finding insights about their audience and letting their lives reflect in the brand communication. For example, Airtel created the ‘Har ek friend zaruri hota hai’ campaign, which kept the brand pillars of human connection intact while reinterpreting them for younger consumers,” he says.
Dialling up engagement
Personal care model Cinthol, from the Godrej Consumer Products (GCPL) steady is one other instance. It could have been launched 70 years in the past, however has continued to thrive in an more and more fragmented market. The secret? Occasional model rejuvenation. Somasree Bose Awasthi, CMO, GCPL, notes that Cinthol has managed to remain related by associating with the youth icons of its time. “For our last re-launch, we reimagined the bathing experience and extended it to an outdoorsy experience. This resonated with the youth, especially those who enjoy travel and adventure. We have been communicating more on digital too,” she says. Cinthol’s portfolio has additionally been expanded to incorporate merchandise like deodorant sprays, talc and physique washes. During the pandemic, Cinthol’s digital initiatives noticed engagement as excessive as 30%-35%, method above the typical 5%.
For Bajaj Allianz, the share of digital within the media combine is nearly 60% now. “Nearly half of our customers today are under 35 years. Our brand transformation, which broke away from the traditional concept of life insurance, has definitely spoken to young consumers,” says Mehra.
Net web, model rejuvenation is an ongoing train. And here’s a phrase of recommendation from a model that has been there, executed that, over and over: “Listen to consumers regularly because you never know when your cheese may be moved. And don’t lose sight of your brand’s core strengths but rather evaluate regularly how they can be evolved to meet a consumer’s changing needs,” as Awasthi places it.
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Source: www.financialexpress.com”