With the slow down of the Indian economy, the Sensex, commodities, fuel prices - just everything is going paranoid about the situation. afaqs! spoke to brand owners and advertisers on whether they would alter their media plans and expenditure.
Kaushik & #BANNER1 & # Roy
President, brand strategy and marketing, Reliance
On the media front, the obvious effort will be to deliver the same GRP (gross rating point) at a lower cost. Also, the advertiser could expand the list of channels, as audience fragmentation is not linked to economic phenomena. The advertiser will gain by going to smaller channels. Shorter bursts of advertising could increase the impact per campaign period.
Managing director, Henkel
We will continue with our advertising and media activities as planned. Apart from advertising, we have built-in activities that enable consumers to experience our brands to induce trials. As consumers buy our products for their quality and efficacy, we believe we have an opportunity to grow volumes with repeat purchases. In fact, we recently launched new products - Bref Power Cleaner and Pril Degreaser - in the home care category.
We are now using print, radio, satellite TV and Doordarshan, along with on-ground activities, to enhance media reach and increase brand awareness.
We will bring in efficiency from cost optimisation in logistics or supply chain and have no plans to alter our advertising and media expenditure.
Chief development officer and head, marketing, Tata AIG
However, significant emphasis will be placed on measuring the efficacy and returns on investment in brand marketing and communications. Promotional spends will need to work harder, sweat more.
Innovations and high impact programmes will offset any budgetary realignment. From the inception of the brand building programme, the focus at Tata AIG Life has been to invest 'smarter' and, subsequently, measure impact.
Vice-president, marketing, Whirlpool
The latter part of the first half did see a slowdown, but how much is attributable to inflation and how much to the delayed and brief summer, which adversely impacted offtake of air conditioners and refrigerators, is difficult to gauge. The second half has key purchase occasions such as Onam (in September) and Diwali. We will know in the next few weeks whether inflation will have a dampening effect on the buoyancy that we are accustomed to seeing in the festival season.
With regard to our advertising and media plans, suffice it to say that we have shortened our planning cycle to tailor our market investments in line with market growth. But it goes without saying that we will be investing during Onam and Diwali and there will be a fair balance between above-the-line and below-the-line investments.