Analysis of “Brand” Amitabh Bachchan using Brand Equity Pyramid.
Points to Discuss [Index]
Biography in Short:- Amitabh =“The light that would never go off” ; Bachchan = Child-like [in colloquial Hindi] First Job as freight broker for the shipping firm, Bird and Co. in Calcutta. Early Works (1969-1972)- Debut as narrator in “Bhuvan Shome” by Sri Mrinal Sen. Saat Hindustani, Anand, Parwaana, Reshma Aur Shera, Guddi, Bawarchi etc. Rise to stardom (1973–1983)- Zanjeer and other big hits follows…. Slump and Retirement (1988–1992)- Khuda Gawah, Insaniyat  was all box office failure. Later he started A.B.C.L and it was failure too. The Big Comeback(2000-Present)- Kaun Banega Crorepati in Television. Mohabbatein & other super-hit films. Awards:-Padma Shri,Padma Bhusan, National Film Awards[4 times], Filmfare[27 times Best Actor], IIFA[6 times], Knight of the Legion of Honour[Highest Civilian Honour of France] etc and a LONG list follows……..
Brand:- A brand is a distinguishing name and/or symbol! intended to identity the goods or services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitors (Aaker, 1991; Stanton, 1994, and Kotler, 1996). Faith branding is the concept of branding religious organizations, leaders, or media programming, in the hope of penetrating a media-driven, consumer-oriented culture more effectively. Essentially, faith branding treats faith as a product and attempts to apply the principles of marketing in order to "sell" the product. Brand Amitabh Bachchan has a 90%+ awareness levels amongst Indians (At least 90% of Indians will know of the brand – kids below 2 and tribals excluded), will have a 70%+ penetration (at least two out of three Indians would have experienced/consumed the brand across media - TV, print, Internet, films and books) and there would be at least a 30% repeat consumer base. At least one out of three Indians would have consumed it more than twice.
Reputation Capital:- For a business, reputation capital is the sum of the value of all corporate intangible assets, which include: business processes, patents, trademarks; reputations for ethics and integrity; quality, safety, sustainability, security, and resilience. [Source- Intangible Asset Finance Society (http:/ / www. iafinance. org)] A positive reputation will secure a company or organisation or Brand long-term competitive advantages. The higher the Reputation Capital, the less the costs for supervising and exercising control. Reputation capital is a corporate asset that can be managed, accumulated and traded in for trust, legitimisation of a position of power and social recognition, a premium price for goods and services offered, a stronger willingness among shareholders to hold on to shares in times of crisis, or a stronger readiness to invest in the company’s stock.
Brand Loyalty:- Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or otherwise continue using the brand and can be demonstrated by repeated buying of a product or service, or other positive behaviours such as word of mouth advocacy. Brand loyalty is more than simple repurchasing. True brand loyalty exists when customers have a high relative attitude toward the brand which is then exhibited through repurchase behaviour. This type of loyalty can be a great asset to the firm. For example, if someone has brand loyalty to Company A he will purchase Company A's products even if Company B's are cheaper and/or of a higher quality. According to Pareto Principle [The 80-20 Rule], 80% of sales of a company / brand comes from 20% of its total customers. Majority of this 20% consists of the loyal customers. In case of “brand” Amitabh Bachchan, he gains this loyalty for his celebrity fame from his loyal fans who will mostly use products endorsed by Amitabh Bachchan.
Life Cycle of Brand Amitabh Bachchan Early Career Life:-Early movies namely Saat Hindustani, Anand, Parwana – None successful in box-office. But he received several awards for “Best Newcomer”. Joined politics, but failed there too. Mid Career Life [Rise of Angry Young Man]– Super hit Movies – Zanjeer, Namak Haraam etc. Severe injury while shooting for ‘Coolie’. Huge gain in Reputation Capital. Made a vivid image in all tiers of society & gained loyal ‘customers’ who never left him in bad times. Decline – After 1988, several films went flop namely “Shahenshah” , “KhudaGawah” , “Insaniyat”. He went into semi-retirement Continued……….
Continued….. In 1996 he founded A.B.C.L & hosted Miss World beauty pageant, Bangalore but it was a failure. A.B.C.L also produced few films like “Tere Mere Sapne” , “Mrityudaata” , etc , all of which did not do good business. He even had to mortgage his house to Sahara India Finance to cover up the bills. Return to Stardom [Rise of Big B] – In 2000 he started his career in television, hosting Kaun Banega Crorepati. It was HUGE success and soon he also delivered super-hits like Mohabbatein, KabhiKhushiKabhieGham, Baghban, Black, Khakeeetc. Birth of Endorser Amitabh BachchanThe phenomenal success of KBC helped marketers realize that Amitabh Bachchan is single-point attention-grabber. He is one Indian celebrity who could not only command attention but also lend his credibility status to the brands. He has been brand ambassador of products across industry and categories. Continued………
Continued:- Amitabh Bachchan already had the profound impact on people which eased his success as brand ambassador to an great extent. While it started as a film character, the brand had a certain set of core values, that could be personified on screen – Unconventional good looks, Angry, against the odds, fire in the belly, adopting Core Indian Values of high relationship quotient (emotional bonding with relations and friends), Social equilibrium (voice of the downtrodden), Humble son of the soil. Challenge for Endorser Amitabh BachchanThe brand endorsements of AB are conflicting - on one side the Brand AB is trying to associate itself with younger brands like Dabur, Maxx Mobile, Pepsi, Cadbury etc . On the other hand certain brands like Parker Pens, Reid & Taylor, etc., that he endorses are more related and matching to the actual brand image of Brand AB - that of esteem, trust due to success over a number of years, one who is above the masses. Also this was the reason the Brand AB was used for the polio endorsement of Government of India.
Amitabh Bachchan- King of Endorsements Banking- ICICI Soft Drinks- Pepsi, Mirinda Batteries- Eveready Paints- Nerolac Chocolates- Cadbury Automobiles- Maruti Suzuki (Versa) Writing Instruments- Parker Pens Apparel- Reid & Tailor Diet Supplements- Dabur Personal Care- Emami Real Estate- Sahara City Homes , Binani Cement.
K.B.C - This show presented the same Brand AB by re-positioning it. The core value of the brand was still the same - he was a 'Saviour', previously he was the saviour of the neglected masses; now he became saviour of people, helping them to achieve and win money. The era of achievers cashed in with 'Achiever' attribute of the Brand AB. Brand AB is an achiever brand in itself - he has achieved fame and has become a superstar, starting from a mere struggler in the film industry. In KBC, he became a guide to the people who wanted to be achievers in life by winning money. KBC presented AB in classy suits and elegant ties or in traditional Indian attires. He carried both personalities majestically in the show. He spoke brilliantly in both Hindi and English. One of the reasons for this successful repositioning of the brand is Amitabh Bachchan's mass appeal in the role as a classy host. His personality, acting sense, bilingual efficiency (English and Hindi), and magnificent voice gave the audiences a brilliant TV host.
Brand Equity:- Brand Equity is the added value endowed to product & services. This value may be reflected in how consumers think, feel, and act with respect to the brand as well as the prices, market share and profitability that the brand commands for the firm.(Kotler, Keller, Koshy, & Jha 2007) Brand Equity is an important intangible value that has psychological and financial value to the firm. In other words, high brand equity generates a “differential effect”, higher “brand knowledge”, and a larger “consumer response” (Keller 2003a), which normally leads to better brand performance, both from a financial and a customer perspective. Aaker and Joachimsthaler ,2000
Books:- Strategic Brand Management by Jean-Noel Kapferer. B2B Brand Management by Philip Kotler, Waldemar Pfoertsch. Marketing Management by Philip Kotler . Kevin Keller, Koshy & Jha. On the Internet http://www.QuickMBA.com http://www.labnol.org/india/brand-amitabh-bachchan/ http://www.coolavenues.com http://www.hindu.com/2010/01/07/stories/2010010760511400.htm Wikipedia Online Thesaurus Google Search Engine References:-