In India, in the recent months inflation has broken all records. In fact it has skyrocketed past its own record which it had set 7 years ago. The price of every commodity has risen in the past six months or so. To compound to the misery of the general public the price of petroleum products were increased substantially. These developments have resulted in the proper allocation and careful spending by the Indian households.
For me it the most appropriate time for ‘brands’ to make an impact, in the current situation where planning is high and the funds are less the customer look for the brands with ‘maximum utility’. I do not intend that in happier times customer were not seeking ‘maximum utility’ but in the current situations the concept of “ value for money ” is more stressed upon . Most of the customer today are seeking maximum value in their purchases, this is the time when a brand can stand up and proclaim itself as the most value delivering brand, or augment its existing position in the minds of the customers as the most value delivering brand . This is the time when even the retailers like Big Bazaar and Subiksha can make an impact as large discount stores who can provide maximum value.
To sum up the situations might look gloomy, but in reality its an opportunity for the companies and their brands to stand up and deliver , to be known for their ‘value’ and perhaps reinvent themselves,
the situation can be summed up by the saying “ every cloud has a silver lining ”
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