Consumers are now looking for the next great experience: Mehernosh Pithawalla
Godrej & Boyce Mfg. Co. Ltd. (G&B ), the flagship company of the Godrej Group, has played an instrumental role in the economic history of India by the way of navigating excellence in manufacturing and design, thereby providing sustainable value for its communities and stakeholders. It generated revenues of more than Rs 11,500 crore as of FY2021. With more than 14,000 dedicated employees, it has an extensive and diverse presence over 10 industries starting from complex engineering solutions to consumer products such as furniture, appliances, security solutions, and has a positive impact on the lives of one-third of India’s population each day. The products of the company have also made an establishment of a powerful global footprint across five continents.
G&B is a company which is driven by values, and is known for its strong social conscience as well as integrity. It has helped in designing a corporate culture which is empathetic and is designed for empowering teams, individual, communities in which G&B is operating.
As a value-driven company known for its integrity and a strong social conscience, it has built a compassionate corporate culture designed to empower individuals, teams and communities G&B operates in. For this, G&B has been consistently recognised as one of India’s most respected companies.
In conversation with Adgully, Mehernosh Pithawalla, Senior Vice President and Head of Brand and Strategic Insights, Godrej & Boyce Mfg. Co. Ltd, said, “With two prominent waves of COVID-19, we witnessed the biggest leapfrog in consumer behaviour – vast digital adoption owing to easier access to products and the convenience of home delivery.” Excerpts:
How has Godrej & Boyce’s well over a century journey been?
In the course of its 125-year journey, Godrej & Boyce has been closely associated with India’s quest for self-reliance. The company continues to pioneer progress for generations, having introduced several firsts in India – from locks, safes, refrigerators, almirahs, and typewriters to vital parts for India’s journeys to the Moon and Mars, as well as its advances into clean technology. The firm’s strong commitment to the cause of sustainability and community development has also been integral to its journey.
What are the marketing efforts of Godrej & Boyce to reach their stakeholders? What are the new marketing initiatives by the company, such as the 125 days festive contest?
For our current marketing activities, our focus as a brand has shifted sharply to conversion, reaching out to a larger audience, and establishing brand recall with mass media. Through the festive season, we have had strong campaigns across OTT, digital, and print that focused on our wide range of offerings and a specially crafted consumer offer to capitalise on the festive sentiment.
During the festive season various brands like Godrej Appliances, Godrej Security Solutions, Godrej Locks, and Godrej Interio, which fall under the aegis of Godrej & Boyce, are known to offer attractive discounts, cashback incentives, and more. This year as the flagship company of the Godrej Group, celebrates its 125th year, Godrej & Boyce ensured that its consumers had a grand festive celebration. Consumers not only had the choice to purchase from across an array of innovative and new products with exciting offers, but also could participate in a lucky draw and win a cash reward of up to Rs 1 lakh daily. 125 lucky entries won cash rewards of up to Rs 1 Lakh every day. With this offer, we hope to have built greater category awareness and affinity across our offerings.
How marketing has been vital in the rebranding of Godrej & Boyce? Has the brand vision of the company changed after the pandemic?
With two prominent waves of COVID-19, we witnessed the biggest leapfrog in consumer behaviour – vast digital adoption owing to easier access to products and the convenience of home delivery. Further, the rise of social media has accelerated this phenomenon. The use of online retail, digital wallets, free online video apps such as YouTube and Hotstar, and OTT media services has also increased. Adapting to this trend, G&B has undertaken various initiatives across its diverse group of companies with the objective of being more consumer-centric and aiding the process of cross-selling.
Consumers are now looking for the next great experience and brands no longer compete only on price or product. The brand recently underwent a purpose exercise and redefined their purpose to reflect the vision of the company, which is to pioneer progress for generations. This will act as the north star in planning G&B’s next 125 years.
Going forward, what are the growth plans and focus areas of Godrej & Boyce?
Godrej & Boyce is present across 10 industries with 14 strategic business units. There is plenty of room for growth in the existing sectors for us. We are looking to strategically tap into opportunities in the sectors we operate in and move into adjacencies where possible. We have also invested in start-ups across construction, appliances, and energy, which support our growth plans.
From a consumer products point of view, in appliances, for example, we are seeing a trend where the premium and mid-level segments of products are doing very well. Godrej Appliances is targeting overall 50 per cent growth over last year in this festival season, with higher levels of growth expected in the premium segment. Godrej Interio has also witnessed an uplift in demand across categories like home furniture, storage, kitchens, and mattresses.