Goafest 2009: Good or bad times? Or neither!

In the light of the global economic scenario, Goafest 2009 aims to get speakers to talk about the topmost worry for everyone across the globe, including the Indian ad fraternity. afaqs! captures how the seriousness of the issue is amalgamated with the excitement of the Goafest, the Indian ad fraternity’s very favourite event, looked forward to each year for its fun and frolic.

“That’s what builds one of the biggest companies and businesses of the world!” he exclaims.

Kamat of Colors regards ‘slowdown’ as a ghost. “You can’t see it but you can definitely feel it.” Colors began in July 2008 – just before India got the signal of being a party to the global economic crisis. Around October, the company started getting slight shivers. “We knew it was time to make choices. Our decision was to stick to our course, which we did – and it has taken us a long way.”

For Colors, trading an axe for a surgical knife proved to be a smart deal. By structuring its value proposition, it sharpened its focus according to the trade needs, going strong on the long term story rather than the short term one. Kamat believes that by its very nature, the only thing short term about recession is recession itself. “We invested in our brand and when we spend money on marketing, it takes it from economy to business.” After the low phase, he strongly believes it helps.

For Tripathy of HDFC Standard Life, however, it is about proving that marketing is definitely not about making a hole in the financial pool of the company.

For him, remaining true to the brand, focusing on the varied needs of the company’s customers, maximising and optimising marketing investment and looking at relationships beyond the purview of the company and its customers are some of the points that a marketer ponders about.

The key issue is to believe in what you do and be consistent at it through both good and bad times, opines Agrawal of Pantaloons. He believes in the old school of thought which trusts gut feelings.

With the perception of value for money being stronger, he gave the instance of how the group plunged in for a much thought about 15 per cent price cut at a time when most Indian retail companies were looking at upscaling, be it through bringing in foreign brands to India or increasing their prices. The company also cut down heavily on its promotional advertising.

Convergence is the word for Roy of Hungama Mobile. He identifies India as the only market where television, print, radio and the Internet are growing. The country will also be eyed by foreign brands as they are not doing too well in other countries.

Consumerism has been injected like a drug and “launches like the Nano will only instigate it,” he says. What about Colors making it by getting personalities to do the show? “It’s about how many would be able to do it, given the same cash. It’s about a good plan and understanding the trends – and changing with them,” replies Kamat.

For some – the scenario is a slowdown, while for others it is seeing the positive side in terms of an opportunity, and for the rest – simply a passing phase through which standing consistent means more than anything.