IIPM is A World of Career
Godrej may not be called a brand savvy organisation, but its word-of-mouth popularity is tremendous
Godrej – this
century-old brand is almost a household name in India. No surprises there, right? After all this brand has years of toil, integrity and quality delivery to its credit? What’s more, over the last year the brand has latched on to a new style, while carrying forward the same legacy. Godrej roped in Priety Zinta as brand ambassador to add chutzpah to its consumer appliances and portray itself as a contemporary and trendy brand against competitors like LG (that has junior Bachchan endorsing its products) and Whirlpool (with Devgans as ambassadors). What’s more, Godrej also acquired Keyline Brands (UK) and Rapidol (South Africa) over the last year, putting to rest any remaining speculation about the future brand equity of this swadeshi brand. A valuation by UK-based brand consultancy, Brand Finance, estimates the net worth of just Godrej’s top five brands, at an astounding Rs.26.50 billion. In categories like cupboards and locks, brand Godrej is almost a generic name. “We believe in living up to our values of honesty, integrity and quality and that’s what feeds the equity of our brand,” says HK Press, President, Godrej Consumer Products Limited. And for those who thought that Godrej was not branding itself enough, chew on this. The company estimates a 30% rise in ad-spends for the year 2007-08. And that’s after shelling out a whopping Rs.720 million during 2006 alone for the same. This one sure wants to rise above the waters!For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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