BENGALURU : Less than a year ago, Less than a year ago, one of India’s most popular brands was going through a crisis that saw market share fall to below 35 per cent from 77 per cent. With excess lead found in a few product samples, Nestle’s Maggi was doomed, some said. A year on, it is still around and seems to have pulled off a near miraculous recovery.
In December 2015, meanwhile, Ratan Tata spoke out on losses incurred by the Nano, admitting that advertising it as “the cheapest car” had created negative sentiment.
Crucial to both instances is the role branding played. A recently released report from Brand Finance says highly branded businesses and strong brands can outperform the market.And brands have never been this important. In India, lakhs of new customers are added daily, pointed out Anirban Mukherjee, Head-Consulting, Futurebrands.
In response to Express’ queries, Nestlé only reiterated branding’s importance. “The consumer today has a justifiably powerful voice, and their expectations from brands and organisations have grown exponentially... Agility and responsiveness have become vital..,” it said.
Nestle’s campaigns for Maggi played an important part in getting it from 95th to 25th in brand rankings. Initiatives included the #WeMissYouToo campaign aimed at reconnecting with consumers, the #YourMAGGIisSafe campaign focussed on assuring mothers and more like them.
“Every step was in line with consumer sentiments and the relationship that the brand enjoyed with the consumers,” pointed out Nestle.
Global Consumer Products says accessibility and consistency are important traits for any brand. According to Punyabrata Dash, Senior Manager, Marketing, Global Consumer Products Pvt Ltd. they broke the barrier because of strategic branding. “You should not have a product which just tastes great today... the idea is to deliver consistently..,” he pointed out.