Fund has just got younger. It's now expanded its target group and is trying to reach out to 25-plus professionals. Till recently, the company focused mainly on 40-plus executives. The company is now trying for a complete image overhaul.
Explains Jaideep Bhattacharya, chief marketing officer, UTI Mutual Fund, "There is a growing need to address the younger earning audience within the country. As is known, an estimated 61 per cent of the people in the country today are below the age of 30 years. This in itself accounts for a huge potential market which can be tapped for our company."
Bhattacharya is quick to add that UTI Mutual Fund has earned the reputation of being a trusted brand, but only among older consumers. The recent initiative is to ensure that the strength of the brand is now extended to young consumers and to tap the investing potential among this set of consumers. He clarifies that the brand by no means lacks value.
After every changing shot, a voice says musically, 'Kintu, aapke saath aisa na hoga, no-no.' The commercial ends with the voiceover saying, 'Isiliye aapko ameer banna hoga, apne dum pe. Invest keejiye UTI Mutual Fund mein. The punch line states - 'UTI Mutual Fund. Let's Plan to Get Rich'.
The insight was that young professionals in the age group of 25-35 years are in a hurry to earn everything very fast. But in reality, it's a tough road, and one needs to plan strategically to reach the mark. Hence the punch line: 'Let's plan to get rich'.
To reach out to these young consumers, the campaign was launched simultaneously with 'Kaun Banega Crorepati 3' ('KBC3') on January 22.
Bhattacharya says that 'KBC' is all about knowledge and making money. It has an aspirational value attached to it. Besides, 'KBC' has a humungous reach throughout the country and fits very well with the mutual fund theme.
Along with the television commercial and print and outdoor advertising, the company will also promote the brand, UTI Mutual Fund, through radio, SMS, virals, Internet advertising and other innovative activities.
In fact, the company has plans to launch viral marketing initiatives to create interest around the television commercial. The virals will show people in similar, but a bit wilder, situations than the guy in the commercial. And this will be done without mentioning the UTI Mutual Fund brand. This is just to make the consumer connect with the commercial.
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