Indian advertising today is recognized globally, thanks to some outstanding creatives being delivered from our country by the entire advertising fraternity. With the kind of work and talent getting international acclaim, opportunities seem to be endless. Agencies also have come a long way from being small and medium sized companies to becoming well known brands in the business. With the global buzz surrounding the Indian economy and its possibilities it is only natural that the Indian advertising industry also starts falling in line.
As an agency even though it caters to a region, it should never limit its work to a particular region. Being in charge of global brands and multiple pan India brands each agency should always play a national game and deliver strategy and creatives keeping in mind the national as well as global audience.
Successful brands are an output of a sound strategy culminating into great creatives. Both functions are equally important and the departments need to work hand in hand.
Taking a cue from what Abraham Lincoln once famously said, as an industry, advertising is of the people for the people and by the people, ‘for me, it is very important that my team is happy and motivated because our success or failure is hinged directly to the success /happiness of our team members’.
Toady, communication moves from the traditional media to the digital. Also, the growing importance of the mobile as a promotional tool, the bend towards experiential communication, etc all indicate that, as an industry, we need to change the way we have communicated so far. Our communicated needs to have messages n touch points with consumers where he /she can spend maximum time with our ideas. And hence, agencies should orient one’s strategy and creatives to cater to this.
Uber Luxury now in Indian homes:
There are over one lakh dollar millionaires in the country and more than 60,000 of them furnish their homes with Uber luxury item. From a Hickory chair that costs about Rs 50,000 to Glant furnishings priced at about Rs 3,000 a meter to florl arrangements from Natural Decorations Inc that carry price tags of Rs 4,000 to 25 inch mattresses that would make the wallet lighter by Rs 50,000 the lifestyle of the rich and famous in India is now on par with millionaires in the US or Europe.
Industry observes estimate that the home interiors spend of rich Indians would be about 30 per cent of he cost of their homes. Indian homes are now familiar with Stickley and Bernhardt furniture, Simon Pearce unleaded crystal glassware, Sahelia luxury bed linen and Merida meridian rugs. Renaissance Homes, a Delhi based lifestyle life style store, is the exclusive distributor for top-end furniture brands such as Baker and Henredon Bernhardt and McGuire.
The size of the total furniture market in India is estimated at Rs 1,000 crore, with the home market constituting about 65 per cent. The premium and luxury segment of he market combined, accounts or 30 percent (21 percent premium and 8 per cent luxury) of the home furniture market, according to Techno park advisors a business consulting firm. The firm further estimates that the furniture market in India is likely to witness an accelerated growth, with a compound annual growth arte rate (CAGR) of about 30 per cent.
The term life style is not new, but its application to marketing has been rather recent. Alfred Adler coined the phrase style of life over 50 years ago to refer to the goal a person shapes for himself and the ways he uses to reach it. From our perspective, lifestyle can be viewed as a unique pattern of living which influences and is reflected by one’s consumption behavior. Therefore, the way in which marketers facilitate the expression of an individual’s lifestyle is by providing customers with parts of a potential mosaic form, they as artists of their own lifestyles can pick and choose to develop the composition that for the time seems best. Many products today are lifestyle products that they portray a style of life sought by potential users.
The term life style is not new, but its application to marketing has been rather recent. Lifestyle can be viewed as a unique pattern of living which influences and is reflected by one’s consumption behavior. Therefore, the way in which marketers facilitate the expression of an individual’s lifestyle is by providing customers with parts of a potential mosaic form, they as artists of their own lifestyles can pick and choose to develop the composition that for the time seems best. Many products today are lifestyle products that they portray a style of life sought by potential users.