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The 5th Edition of The Economic Times Best Brands Conclave 2022 organized by ET Edge, an initiative of The Economic Times was held on 20th December at the Taj Land’s End, Mumbai that identified the stellar brands which have secured a place for themselves in the minds of consumers and enjoy high-recall value.
The 5th edition of The Economic Times Best Brands Conclave 2022 bought together the brightest minds and pioneers of the industry together under one roof to Decode the Branding Dynamics for Building the Next-Gen Superstar Brands
The conclave witnessed an august gathering of industry movers, leaders, pioneers, and innovators under one roof coming together to decode the way ahead in making a superstar brand in today’s digital age.
A list of more than 1000 firms and their affiliated brands were chosen based on their turnover, market share, brand reputation and market presence for more than five years. The conclave hosted an eclectic list of remarkable brands from traditional to cutting-edge firms that have carved out a niche for themselves.
The event was graced by iconic leaders from across sectors. Among the eminent speakers, Harsh Mariwala, Chairman, Marico addressed the gathering about his humble journey towards building one of the iconic brands in India. He said “I saw the potential of converting the unbranded market into a branded one. I started touring rural and remote markets to learn more about them and it played an important role in the understanding of the FMCG market functioning. I took small steps towards building the brand. Each of us needs to have an open mind and ask people down the line. Be grounded and be open to learning from the ones below you.“
A brand in its meta-physicality is a thought that lives in people’s minds. In today’s age, the realms of branding have changed and evolved with the changing consumer needs. Sharing his views on this evolution, Harish Bijoor, Brand Guru & Founder, Harish Bijoor Consults said, “In my view, the brand is a thought. A powerful thought that lives in people’s minds. It is meta-physicality. Brands have gone indoors in recent years. To build a superstar brand one must unlearn and re-learn about branding. The game is changing you; you are not the game-changer. The consumer has changed dramatically over the years.”
With digitization taking over the audience in every possible way, the format of communication has evolved as well. Defining the changing dynamics of storytelling and creativity in the current times, R Balki, Indian filmmaker, Screenwriter & former Group Chairman of MullenLowe Lintas Group addressed, “You notice, being noticed is the most difficult thing to do in today’s time. The format of reaching the audience is changing, not the format of storytelling. Everything is entertainment for people and how you cut through that with the brand message is important. The definition of creativity is not just the idea of cracking a brand, but also decoding it and aligning the audience with it.”
Today, the new-age customer connects with the brand that resonates with their emotional state of mind more than their mental state of mind. Brands that have cracked this have made their indoors. Elucidating the need for brands to connect with customers’ emotional state of mind, Josy Paul, Chairman & Chief Creative Officer, BBDO India stated, “It is not about new-age marketing, but about new-age customers. The nature of the idea and media must change. Content is king but context is key. People are looking for meaning and not brand. It is not about just telling but about involving. It is about emotional data more than big data.“
Some of the noted brands recognised at the conclave were the following: Acer India, Accucheck, Amul, Aptech, Bajaj Capital, Capgemini, DBS Bank Everest Spices, Hettich, Mastercard, Mcdonalds, Mitsubishi Electric, Rustomjee Group, Saradon, Tech Mahindra, TVS Motors, Lutron, Wockhardt Hospitals.