Summary
In a performative world, it is performance raised to the power of time. It is ENDURANCE.
Challenge
To either lead the sub-categories or be no.2 selling brand in the least.
Objective
India is changing its ways of life. Technology has revolutionized our way of living. Indian appliances and consumer electronics industry stood at US$ 9.84 billion in 2021, and is expected to more than double to reach Rs.1.48 lakh crore (US$ 21.18 billion) by 2025. [1] (Source: Brand Equity Data) This ever-evolving lucrative market has attracted many young players which are challenging legacy brands such as ours. Bajaj had built an image of a value for money, sturdy products company. Bajaj faced a series of insurmountable odds: 1. Low Brand Love Bajaj's consumer perception lacked relevance. Bajaj was not anchored on one strong consistent or functional equity. It is primarily associated with 'legacy and trust', which while important, didn't address a strong consumer-relevant need of the audiences. 2.Sandwiched between monoliths and aggressive competitors: Bajaj was sandwiched between 2 distinct categories of competition. Pressure from established players like Philips, Havells and innovative newcomers like Atomberg, Wonderchef were eating into our market share.
Strategy
We had to align ourselves with the shift in consumer's mindset. Post-liberal generation has only witnessed abundance, demand more from their lives. Their spirit of never giving up inspired us to do the same. THE INSIGHT: In an achievement-oriented world, it is all about performance raised to the power of time. It is about ENDURANCE. This translated to the proposition of durability which equally connected back to enabling the modern aspirations of today's Indians. In recognition of the fact that millennials favor brands that resonate with their personal beliefs. Hence: "Millennials are resilient to life's everyday challenges and expect their appliances to endure the same hustle."
Data
In an achievement-oriented world, it is all about performance raised to the power of time. It is about ENDURANCE. This translated to the proposition of durability which equally connected back to enabling the modern aspirations of today's Indians. In recognition of the fact that millennials favor brands that resonate with their personal beliefs. Hence: "Millennials are resilient to life's everyday challenges and expect their appliances to endure the same hustle."
Solution
Results
Bajaj's Built for Life campaign has produced impressive results that have had a significant impact on its marketing and business performance. Analysis conducted after the campaign showed a noteworthy 10% rise in sales of domestic appliances, indicating the campaign's success in piquing consumers' interest and willingness to buy. The increase in revenue is indicative of Bajaj's market appeal. The campaign's performance is further confirmed by marketing stats. According to a survey, 42% of participants now think Bajaj appliances are long-lasting, and 41% think they are durable. These figures demonstrate the brand's solid reputation for dependability and quality, which are essential attributes in the competitive appliance industry. Additionally, brand consideration increased by an astounding 18% nationwide, demonstrating the campaign's capacity to connect and engage a wider audience. This measure highlights the campaign's success and shows that more prospective buyers are inclined to think about Bajaj as their brand of choice. Most remarkably, Bajaj is currently in the lead with over-indexes in every brand equity pillar, with brand salience being particularly high post-campaign. This accomplishment enhances Bajaj's standing as a leader in the competitive appliances market and strengthens its position as the industry leader.
