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Strategies for Brand India
 

Strategies for Brand India

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A report on branding India to other developing nations by Welingkar's students.

A report on branding India to other developing nations by Welingkar's students.

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    Strategies for Brand India Strategies for Brand India Document Transcript

    • President Barack Obama bows in the East Room of the White House in Washington on Wednesday, Oct. 14, 2009, after lighting an oil lamp in observation of Diwali.
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives Details Team Members Sandeep Aggarawal, Vedant Bagri, Anandita Bakshi We School (Welingkar Institute of Management Institute Name Development & Research) Lakhamshi Napoo Road, Near Matunga (Central Rly.), Mumbai- 400 019. Institute Address Tel.: 91-22-24178300 Fax: 91-22-24105585 Email vedantbagri@gmail.com Phone +91-9960560935 Contest BUSINESS SCHOOL AFFAIRE 2010 Theme “Brand India –Strategies & Perspectives” Maximum Words 2500 WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 2
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives Table of Contents  Introduction to Brand India  Brand India Assets  Branding Strategy  Insights & Conclusion  Bibliography WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 3
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives 1. IntroductionIn spite of the phenomenal strides India has made in the last 63 years it is still viewed as aland of snake charmers, elephants and rope tricks. Branding or re- Branding India is theonly way out!India as a BrandBrand India Image:Image is considered as how one perceives a brand, havingsuccessfully launched numerous campaigns for brandingINDIA, right from Incredible India to India poised there isstill lot needed to be done.As a branding strategy it is of utmost importance that Brandidentity and Brand image must coincide as much as possible.Brand Identity:Identity is what we want to create for our Brand India. Thereare both positive and negative perception exists in the mindsof people both outside and within India. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 4
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives 2. Brand India Assets MOOD BOARD OF BRAND INDIA WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 5
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesIndian Assets:Culture: “AtitihiDevoBhava”: We believe in treating guests as god and so we serve them and takecare of them as if they are a part and parcel of our family itself.“Aadar”: Respect all is another lesson that is taught to every Indian. Also whenever anyelder is present we always believe in seeking their blessings before going ahead with ourwork.“Saahita”: We believe joy and happiness when distributed amongst people tends to havea multiplied effect and we also share our sadness and pain with near and dear ones. Webelieve in lending out a helping hand to people and believe in the spirit of togetherness. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 6
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesSpirituality and Divinity:India since ages has been a very religious land. Even though the mediums of worshipdiffer to a great extent what binds all of Indians together is the faith in God. Chantingshlokas and mantras i.e. chants that can evoke positive energy in life are a commonplacehere. The rich culture of yoga as a part of life and the goodness of ayurveda has now gotan universal lifestyle approach. Our roots are strong and despite the westernization andaccess to technology. We still celebrate festivals like Diwali or Eid with complete ritualsso the Indianness is intact. Indians are extremely secular and especially in the metros youwill find people belonging to different castes coexisting peacefully and happily.Indian People and Religion:The language, dance, religions, music, various customs and architecture form the richculture of India. Religious culture of India is one of the most diverse in the whole world.It has been the birthplace of various religions of the world, which include Hinduism,Jainism, Buddhism, and Sikhism. Some other important religions like Christianity,Muslims, Jews, Parsis are also representative of the religious culture of India.India is a land of various languages. Every state of India is representative of therespective language culture. One of the oldest languages of India is Sanskrit, which datesback to 1500 BC.Industry:The major economic sectors in India are the Agricultural Sector, Manufacturing Sector,Financial Sector, Services Sector, Industrial sector and infrastructure. Agricultural sectoris the mainstream of the Indian Economy and it accounts for about 20% of our GDP.While the Financial Sector is doing a great job of supporting the Indian Economy in allspheres, the manufacturing sector is taking the Indian Economy to new heights. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 7
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesAgricultureIndia is seen as a land of agriculture though we also want to convey that throughscientific innovation we have revamped the entire agriculture landscape, revolutions likegreen & yellow revolution to the current genetically modified seeds.  India ranked 10th when it comes to arable land of about 330 million hectares  India is the largest producer of coconuts, mangoes, bananas, milk and dairy products, cashew nuts, pulses, ginger, turmeric and black pepper.  World’s second largest producer of rice, wheat, sugar, cotton, fruits and vegetablesManufacturingIndia is poised to become one of the largestmanufacturing hub. The Industrial Production (IIP) indexquick estimates data for April 2010 shows a growth of19.4 per cent in the manufacturing sector as compared toApril 2009. The cumulative growth during April-March2009-10 over the corresponding period of 2008-09 is 10.9per cent, according to the Ministry of Statistics andProgramme Implementation.  India is ranked 9th in Industrial production by UNIDO.  India’s Exports from SEZ grew by 122% to US$49.5 billion as per ministry of commerce.  India is the only country after Japan which has the largest number of companies that have been recognized for the excellence in quality by Japan Institute of Plant Maintenance (JIPM) committee. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 8
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesServicesIndia is hardly pausing for a breath when it comes to services; India is now proudly thecapital of IT.Services sector (financial and non-financial) attracted foreign direct investments (FDI)worth US$ 4.4 billion between April and March 2009-10 while the cumulative FDIbetween April 2000 and March 2010 has been US$ 23.6 billion, which accounts for 21per cent of the total FDI inflow.  India is now the world IT capital.  Fastest growing telecom market with over 630 million subscribers and growing at a rate of 26% year after year.InfrastructurePost liberalization India is one of fastest growing economies, a mature government atcenter with a clear focus on development.  Outlaying 173552 INR in the union budget of 2010 for infrastructure development.  Vision of increasing capacity of major and non-major ports in the country to 1.5 billion tones by 2012.  India stands 9th largest civil aviation market in the world and poised to be the 5th largest in next five years as per The Union Minister of State for Civil Aviation, Mr. Praful Patel.  Railways reported an increase of 9.69 per cent in its total earnings at US$ 1.62 billion.  Approval for converting 10,000 km of state roads to national highways has been given by the Empowered Group of Ministers (Ego). estimated expenditure on the project is around US$ 3.3 billion. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 9
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesSpace Technology  Successfully developed satellite launch vehicles like PSLV series.  Developed cryogenic engine for rocket propulsion, putting India in the elite club of only five nations having the technology.  Most coveted mission chadrayan- The unmanned lunar exploration program.Fire Power  World’s 3rd largest standing military  Nuclear triad capability  Development of missile shield  Successful homegrown missile technology of all categories surface to air, air to air, water to surface, underwater. Nag, Prithvi, Agni, Brahmos to name few  India in the elite club of nations having Nuclear capable submarines WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 10
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives 3. Branding StrategyPrior to designing the brand strategy India must choose the markets and the segments inwhich to compete. The branding strategy is about marketing to promote India’s image,products, and attractiveness for tourism and foreign direct investment.To establish India as a global brand, the communication needs togo out first to each and every Indian. Campaigns like BharatNirman, India Shinning, India Poised are examples in thisendeavor. It also have to include a series of coordinated marketing initiatives like Incredible India that will use conventional methods like advertising and must be an integrated marketing and communications campaign. It is a long-term, cumulative effort and relies on the competitive advantage of India. The primary channel for these tools is advertising in the press, airline and travel magazines, television, etc. It is necessary to integrate and coordinate these communication channels to deliver a simple, coherent and compelling message on the country. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 11
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives Country branding efforts should be an engaging partnership between the government and the private sector. To build positive economic perceptions of India globally as a primary objective India Brand Equity Foundation (IBEF), a public-private partnership between the Ministry of Commerce and Industry, Government of India, and the Confederation of Indian Industry was formed.Brands are perceived differently indifferent countries and region adapt itsstrategy for different target markets. Visual images, symbols or a logohelps in building brand awareness. On domestic front we have to maintain consistency by coordinating and integrating city and state brands within our larger goal of branding India. Strong partnerships between the representatives of state and ministries will drive alignment and coherence in brand communication efforts. “Kerala Tourism” bagged several international, national & state awards which made a super brand in tourism and hospitality. “Incredible India” is an example of umbrella logo used to leverage everything together in the eyes of the country and the world. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 12
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesThe four dimensions of country branding will underpin the umbrella concept whileensuring a consistency in overall Brand communication.Tourism BrandingTourism branding should be based on segmentation which can be made based on regions,consumer needs, attractions, areas, seasons etc. Different aspects of Indian culture andhistory like yoga, spirituality were showcased via this campaign. Also the fact that inspite of attracting only a fraction of number of tourists that China managed to lure Indiawas able to earn around half of what China could thus indicating the importance oftargeting and segmenting.India is projected to become the fifth fastestgrowing business travel destination from 2010-2019. Hence services like hospitality andinfrastructure should design their products andservices to meet the needs of this high endclientele. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 13
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesMedical tourism will generate revenues worth US$ 2.4 billion by 2012. Thus specificcampaigns needed to develop creating awareness of the highly affordable advancedmedical services available and also alternate therapies such as Ayurveda which Indiaspecializes in can be promoted through several campaigns.Tourism also offers a unique opportunity to turn tourists into loyal customers for India’sexport products and services.World RecognitionBranding exercise is also to ensure that India will now be viewed in world map in amanner which it truly stands for and break the myths and perceptions that work against itcurrently. In order to gain international influence and respect which India aspires for, itcan leverage its unique classical art to sports to now-so-popular Bollywood to the super-normal economic growth, the cultural heritage to the world. Signing treaties withcountries will help in leveraging other countries brands to improve India’s globalstanding.Export PromotionThere is humongous opportunity to improve the export image of India .For achieving thisgreater role must be played by government and trade associations to coordinate andpromote India’s export products. This is especially important because country of originoperates in the minds of consumers like a brand name and is a key influencer in changinga purchasing decision.India must audit every product to ensure it delivers the promised level of performance. Itcan project itself as value shopping destination. To increase awareness trade fairs shouldbe organized by its network of trade offices overseas on regular basis. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 14
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesInvestment Promotion ActivitiesIn 1991, India liberalized its highly regulated FDI regime which resulted in increasedinflows of FDI during the decade of the 1990s. Despite this the volume of FDI isrelatively low compared to other developing countries.Macroeconomic stability, stable exchange rates, political stability, transparent policy anda overall stable economic environment are some of the key factors that India has beenable to boast off in past few years. Branding promotions must harp upon these factors andbring forth India in spotlight it truly deserves!Social Media and WebThe importance of a one-stop country website is paramount because it gives the reflectionof the country’s commitment to customer service in that internet users only have to visitone website to obtain all the information they need.With hundreds of countries competing for attention in consumers’minds, a one-stop website becomes an essential tool of India’sbranding effort. Website should have an attractive design, ease ofuse and user-friendly interface. India should leverage the power ofsocial media and its large audience to promote its brand. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 15
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives 4. Insights and ConclusionThe entire Branding strategy must be well rooted and we must present what we truly areand not what we aspire to be. A brand audit must be conducted ensuring every piece ofcommunication going via the campaign is authentic and has a basis.Successful country branding does not stop with the launching of a successful campaign.You have to sustain the campaign by monitoring it, checking the Brand equity and thengoing for relevant brand extensions as time progresses.Do not hover around just one asset in fact use multiple hook points in creating BrandIndia as a synergic attitude will strengthen the brand.Nation and departmental brandings have a wide range of stakeholders who use numerouschannels to reach diverse audience. It’s thus difficult to encapsulate a multifaceted entityinto a distilled brand.Every one of the billion plus citizens is a stakeholder in Brand India so there should be astrong Brand awareness within citizens before launching the campaign globally.While launching a new brand into the market is a daunting task, what is further moredaunting is repositioning India as a brand since here we have to change the alreadyestablished perceptions in the minds of consumers and make way for fresh newperspectives.Consistency is a key aspect of successful branding. We need to ensure that thecommunication used in every branding dimension fits seamlessly into the overridingumbrella concept. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 16
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & PerspectivesWhile the current scenario of India looks encouraging, we must not rest on the laurels oflimited number of people and companies. Steps must be taken to grab and consolidate onthe opportunities that might present themselves in the near future. We should not forgetthat despite the fact that India is attracting foreign investment and scenario is bright, Indiastill has a huge backlog of economic and social challenges that needs to be addressed.Brand India with all the opportunities and growing sectors fused with fresh blood seemsto be the next Big thing. All it requires is a 360 degrees Branding effort to revamp itwhile keeping its core Indianness safe and intact and make a mark in the Global arenaforever! WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 17
    • BUSINESS SCHOOL AFFAIRE Brand India –Strategies & Perspectives 5. BibliographyIndia Brand Equity Foundation (IBEF)Business WeekBusiness StandardWebsiteshttp://www.bharatnirman.gov.in/http://www.incredibleindia.org/index.htmlhttp://www.keralatourism.org/http://economictimes.indiatimes.com/ WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT & RESEARCH 18