Mint Account For Ulka; On Road By Year-End
FCB Ulka has bagged the prestigious Telco Mint account in a multi-cornered pitch. The agency was finally selected from among 14 other ad agencies, who made presentations to the Telco small car team team headed by the general manager (marketing), Rajeev Dubey. Confirming the news, Ambi Parameshwaran, executive director, FCB Ulka said, "We were informed of Telco's decision last Friday. We are proud to be given the opportunity to work on what looks like the most important laun ch of an Indian brand." Sources say the account is expected to be worth Rs 15 crore. Recounting the details of the pitch, which lasted for over five hours, Parameshwaran said, "We recommended that the Telco small car needed an integrated marketing communications plan."
This will involve a multi-stage process consisting of understanding the consumer, developing and testing relevant communication platforms, and then using paid as well as unpaid media and direct marketing for the launch.
Among the other agencies in contention were Contract, Trikaya Grey, SSC&B, O&M, MAA Bozell, Heartbeat and R K Swamy BBDO. The brand name that will adorn Telco's small car is likely to be announced later this month by the company chairman Ratan Tata.
Meanwhile our Delhi bureau added the Telco small car is likely to be laun-ched by the end of the year and the dealers will get to take a look at it some time in Nove mber, according to Concorde managing director Steven G Foster.
Foster said the financing of the small car purchases will be through a number of banks and non-banking finance companies apart from Tata Finance.
Talks are on with Standard Chartered, Citi Bank, Bank of America and Hong Kong Bank for a financing scheme and a deal is expected in three-four weeks.
According to Foster, the financing scheme being worked out will attempt to offer the customs something more than what is being offered by the current schemes. "We may have some kind of a maintenance contract afterwarranty or extend the warranty and convert it into a financing scheme. We have to come up with something since interest rates in India are quite high," he said.
Foster said the small car will be launched in eight colours including metallic and non-metallic. It will have a petrol and a diesel version. There will be a standard non-airconditioner model, an air-conditioner model and a deluxe model with airconditioner, power windows, central locking etc.
Regarding the system of delivery of the small car, Foster said: "I am not really fond of the booking process. But the manufacturer dictates these terms."
Concorde's network will initially consist of 19 showrooms in seven cities: Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Ludhiana and Lucknow. In each city, it will also engage a co-dealer. The company initially hopes to sell 20-25 per cent of all passenger vehicles produced by Telco.
Fifty per cent of the equity of Concorde is held by the Tata Group through Telco, Tata Finance and Tata Industries, while the rest is held by Jardine International.