Manipal, Karnataka, Aug 20th 2012 – TAPMI played the host on the auspicious occasion of Eid to Ms Ruby Bana, The “Chief Strategist Officer” of Madison Media, who took time out from her busy schedule to come down to the scenic city of Manipal and deliver a lecture on the new way of communicating brand value. Ms Ruby Bana, who joined Madison 11 months ago, brings to the table an incredible industry experience of more than 20 years in diverse roles. She talked about how the methodology of communicating brand value is rapidly changing in today’s Social Age. In fact, she went on to say that she had had to unlearn some things in order to keep up with the changing situations in today’s brand management scenario.
Ms Bana started out by outlining what brands have come to denote in today’s day and age, how the new definition of marketing has come to emphasize more on offering value to consumers. It is this train of thought that has led to the concepts of co-creation and customization. The competitive edge that was enjoyed previously by big companies is gradually diminishing in this age. She also talked about the increased influence that regular employees and marketers now have and how the credibility of CEOs and government officials and regulators has diminished in the span of just a year, from 2011 to 2012.
She also touched upon was the three major categories of brands, namely Functional Brands, Aspirational Brands and Inspirational Brands. Her experiences in the professional sector helped the students group the brands seen in the market under these main categories. She also explained how there has been a paradigm shift in the way branding, marketing and advertising was previously done and how it is being done now, how the ‘New World Rules’ being employed by brands were impacting the psyche of the consumers and adding value to both, the consumers and the concerns.
She then moved on to explain the impact of the various forms of media, namely Paid, Owned and Earned, in the creation of a brand. She particularly highlighted the fact that the influence of Paid Media was gradually diminishing whilst that of Earned Media was increasing. Brands were now moving towards Owned Media in order to engage their consumers much better. She mentioned how all the organisations were now looking at a more ‘Holistic Approach’ to deliver better market value alongside consumer value.
The latter part of the interaction was spent in observing commercials that had leveraged the new methods of communicating brand value, and analysing the effects they had had for their respective concerns. These commercials demonstrated how connecting with the client had given the brands huge returns and greater visibility, something that conventional forms of marketing and advertising could not have had done. Cases in point were the ‘CADBURY MISHTI SHERA SHRISHTI’ contest and the ‘NIKE+’ campaign. She cited few cases on the same and urged students to follow them so as to further enhance their knowledge on the topic.
The session was very interactive with questions being shot from all corners of the room. Ms Bana handed out copies of the book ‘CORPORitual’ by Mr. Raj Bhowmik to those students who could correctly answer her questions. In fact, the last copy witnessed heated discussions among a few of the students to see who could finally land the right answer.
Her experiences from the corporate world helped the students connect with the concepts being discussed. The session ended on a positive note, providing the students with takeaways that are sure to stand them in good stead.