Today, brands live for quarters: AGK

Says brand loyalty has been replaced by mere brand sales

At the release of his autobiography, “If you can dream...” in Ahmedabad, veteran adman and founder of Ahmedabad-based Mudra advertising agency and Mudra Institute of Communications, A G Krishnamurthy spoke about advertising trends during his times, as well as current ones. Ruing the fact that brand loyalty has been replaced by mere brand sales, AGK, as Krishnamurthy is popularly known, said unlike earlier, today, brands and their agencies plan for a quarter at a time.

“In earlier years, companies such as Raymond had long-term objectives. People worked towards long-term loyalties and customer connect. Today, brands live for quarters. Technology has led to proliferation of brands. Nobody is planning for 10 years, but for a quarter. Today, all go for footfalls and everything has become instantaneous,” he says.

AGK, founder of Ahmedabad-based Mudra advertising agency and Mudra Institute of Communications, Ahmedabad, has authored several best-sellers, including The Invisible CEO and Dhirubhaism. His autobiography talks about “mostly the business and professional part” of his life.

On his early days, AGK says, “It was Reliance that gave us a start. One of the defining moments in my life was when I met Dhirubhai Ambani in 1975. He was not keen on meeting us and made us wait for seven hours. But when we met, he spoke non-stop for 40 minutes about his dream and vision. When we came out, the frustration of waiting for seven hours disappeared. It was then that I was introduced to the world of dreams.” AGK feels any start-up can see the success Mudra saw. However, three ingredients are vital---dream, focus and hard work. “Most start-ups don’t succeed because they don’t have business to begin with; Mudra had it (Reliance),” he says.

In the 70s and 80s, when Mudra was becoming a name to reckon with in the advertising world, consumer expectations were long-term. “We used to build brands for generations. Old paradigms have moved away. Today, people talk about brand sales, not brand loyalty. The world is getting younger and so, all products and market efforts are directed towards young people getting into the digital world,” says AGK. “We are becoming Americanised, or westernised. As a society, we are getting lonely. Each is building his own nest.”

Nevertheless, all agencies are on the digital platform and are gunning for youngsters. “The industry is coping very well and moving in tandem with the aspirations of young customers,” he says.

In the wake of the recent Goafest controversy, AGK says though awards are stimulating, the bulk of an agency’s work is meant for customers. “I think no agency worth its salt will make a creative that is unbelievable. Advertising is a very risky business. In a way, advertising does match the making of a product and its user---similar needs and similar deliveries. Rasna is an economy drink…if we would have said only Mr. Ambani or Mr. Mafatlal should drink it, the product would have bombed,” he says.