perspective
november 2013
sugar content in customer’s minds. For instance, the taste of tender coconut is pleasant on the taste buds. It is not whacky, not sweet. Its plain different. • Power of packaging: Everyone is tired of the same old glass bottles, cans, tetra packs. Try some innovative packaging style. Such as see through jelly like wrappers, inbuilt straw in containers, painted matka bottles as a special edition etc.. Even if you want to stick to the regular glass bottles for the sake of Supply chain simplicity, innovate in terms of labelling such as what Dom Perignon does from time to time. Coca Cola’s WE8 edition was one such initiative in this space. • Exciting variants of tea & coffee: On the go consumption of tea or coffee is usually catered to by cafes. There is a relatively empty space for packaged tea or coffee that can be consumed immediately. Some interesting variations of tea that can be explored for the ‘on the go consumption’ are fruit tea, tea punch, matcha, kombucha etc. These are essentially a mix of tea with fruit flavour, with herbs or with mild alcoholic/non alcoholic mixes that give it a fresh new flavour. Similar such product innovations can be explored in the coffee segment as well.
• Relate to a cause, once in a while: In the first week of October this year, Idaho-based Sockeye Brewing partnered with CROWN Beverage Packaging, to launch its flagship Dagger Falls IPA brand in limitededition pink cans. By associating a fun brand with a cause, does not undermines the brand essence. The youngsters who are generally the targeted group will appreciate the initiative and that could provide great PR Mileage. Besides, adding a human face to your brand, does wonders to your credibility
Beginning of the End
Throughout the article; Coke’s, Pepsi’s and other similar players’ end has been prophesized. This is stated by making a fair assumption that these companies have a brand essence that is too strong to be tweaked. The core of the brand itself would have to be altered if they have to compete with new entrants like tender coconut water. But if these companies go about brand extensions in a way that leverages its legacy and innovates in the substitute’s product category, it will sustain and even after 100 years, B-School grads will hail it as a dream company, will learn all about its strategies and write articles on it. Till then, all we can do is to wait and watch.. With a sip of the soda of course!
• Crowd source not just on the web: Crowd sourcing is great way to engage the customers. But it should not just be restricted to online content or posters or marketing material. Kingfisher’s rise to fame can be attributed to its Kingfisher Calendar girl Contest. Lots of glamour and glitz gave it the much needed visibility. Similar such strategies could be used to create the labels with the photos of the winners or to release limited merchandise with the design being crowd sourced. Not only will it be an alternative revenue stream but will also enhance customer engagement.
MARKATHON
6
IIM Shillong