|
| Firms increasingly take to 'experience marketing' |
| Shahana Joshi / New Delhi Feb 25, 2010, 01:16 IST |
|
Companies across sectors are increasingly considering ‘experience marketing’. They are planning to spend around 30 per cent of their total advertising and marketing budget this year on the concept, according to industry estimates.
Godrej Nature’s Basket, the world food store of the Godrej Group, is hosting ‘Savour Life – the healthy way’ workshops and inviting customers to experience healthy eating. The workshops bring together obesity and health consultants to showcase that healthy eating needn’t be boring. Dieticians advise consumers on kids nutrition, women’s nutrition, diabetes control recipes and those for a healthy heart.
‘Experience marketing’ is covered under the broad umbrella of what marketers term below-the-line or BTL initiatives. Experts say a company, on an average, used to spend around 30 per cent of their ad budget on such initiatives. In the last year or so, this has increased to as much as 45 per cent of a company’s total ad spend.
“One can see a very significant trend here, because as India is expanding, one can see the advertising and marketing dynamics imitating that of the West, where companies keep about 70 per cent of their ad spends on BTL activities,” says a senior analyst.
One sector that has taken this particular marketing route is the Rs 17,000-crore paints market. Initiated by ICI Dulux, Indian paint companies have now set up their own colour studios, where consumers can walk in and get their homes personalised the way they want, with the help of experts and consultants — free of cost. Market leader Asian Paints is also now the largest marketer for this initiative and has tied up with 600-700 hardware paint dealers across the country to promote this.
The trend is being seen in some regional companies, too. Wagh Bakri Tea, with over 50 per cent share in the western market, has ventured into this type of marketing initiative for its brand. Being aware of the entry of various international tea brands in India, the company started two lounges in Mumbai solely for tea tasting.
“We will expand this initiative, on the basis of how well our tea lounges do in Mumbai. The aim here is to make the consumers aware of the fact that a home-grown brand like ours can bring them the same unique taste and variety as any other international blend,” said Parag Desai, Director, Wagh Bakri Tea.
“This strategy really helps companies, as they get a clearer insight into consumers’ tastes and preferences. It encourages the production of a more accurate product as well,” said an analyst.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
