Festivity in India occurs almost every month across religion and across the year. Each festival stands for something and brands try to cash on the same. The most famous and auspicious festivals that most brands connect to push their sales are Diwali, Dussera and Christmas. Media spends rocket with high decibel advertising shouting with huge offers and discounts with all brands.
There are also some other festival such as Raksha Bandhan and Holi where brands try to connect and get some mileage. Brands such as Bravia from Sony has very interestingly captured the power of colours that the brands offers through their quality vision is credible and associates with the brand perfectly. As we all know it is great pictures and natural colours that pleases one's eyes when watching television especially in India where we have rich culture and heritage that is amplified with fascinating festivals and colours.
However I was a bit amazed to look at IDBI bank trying to bring some connection with holi which to me is sheer waste of money. Is it because the festival of holi comes in the month of march and banks are compelled to exhaust their budgets ? The connection with holi and bank was totally missing to me ? What are they trying to communicate ? Are they giving special rate of interest or disbursing easy loans during holi ? Banks need not follow the FMCG and Consumer durables to be top of mind as it is difficult to measure the results for the bank by using festival as a platform to build the brand. Public and Semi public sector banks need to revist their thinking and strategy and get their brand values in perfect shape to get maximum buck for the money spent.
Subscribe to:
Post Comments (Atom)
1 comment:
Bhang connects banks and Holi. Citibank, Credit Suisse, Societe Generale and Bear Stearns are not the only cases of false security valuation and negligent derivative decisions. The bigger the bank, the more bhang you need to suspend disbelief at their financial reporting.
Post a Comment