Marketing and General Management forum (MGM), the marketing core of TAPMI has initiated a series of workshops M-POWER, to provide knowledge and exposure to the students by organizing interactions with industry leaders.
As a part of the M-Power series, MGM, in association with Placement Committee recently organized a workshop on Brand Management. The three hour workshop was an interactive session with Mr.Prashant Parameswaran, Head- Consumer Insights, General Mills – Asia, MENA and Turkey.
Mr.Parameswaran has previously worked with Colgate-Palmolive and Nielsen Company, India and has over 15 years of experience in branding. The three hour workshop spanned across branding, understanding the customer, getting, analyzing and interpreting valuable customer insights and sustaining the brand.
The workshop started with an introduction to branding, the basic principle of brand building demonstrated with advertisements and insightful discussion on the same. The discussion moved on to ‘Customer Connect’ – connecting the brand and customer, the strategy required and the challenges faced. The session exclusively focused on the importance of identifying ‘Brand Champion’ – the specific group of customers which our product would target. Steps to identify and articulate a brand champion were discussed quoting several products/brands as examples.
The process of how to capture customer insight was explained in a sequential manner. The process involves uncovering the psychological and behavioral aspects of gaining customer insights which is not just about gathering statistical facts.
The next part of the workshop involved explaining the final step to sustainable brand building- how to build a sustainable brand and acquire the ‘growth idea’, which is a series of process starting from identifying brand champion and analyzing consumer insights and ending in formulating a ‘growth idea’. There was also a brief overview of the benefit ladder framework that was presented, which ranks new products based on the rational or emotional benefits they offer. This helps us identify in what stage our brand is.
Mr.Parameswaran also gave several examples from his own company, some of which included the branding for Pillsbury, how they had begun, how the brand grew and how they sustain the brand in the long run.
The speaker concluded his session to a standing ovation from the audience, post which some more questions were posed. Mr. Parameswaran keenly answered all the queries posed by the enthusiastic students.
The event was well received among the students. They had gained several new perspectives and valuable insights to branding, customer connect and sustainment, which is essentially several years’ worth of learning and experiences packaged in a workshop.