Embracing diversity in marketing – Customising for the many Bharats

India has always celebrated its diversity, drawing strength from its rich tapestry of cultures, languages, religions, and traditions. How marketers are leveraging diversity in their strategies is an interesting observation. The 2023 edition of CMOs’ Charcha - Bangalore Chapter featured a panel discussion that turned the spotlight on embracing diversity in marketing. The discussion was led by Ishan Bose, CMO, Kreditbee, while the esteemed panellists included:

Ram Vinayak Deshpande, CMO, Lendingkart

Anil Gurnani, Chief Sales and Marketing Officer, TTK Prestige

Lakshman Velayutham, CMO, Ujjivan Small Finance Bank (who joined the panel virtually)

Ishan Bose commenced the discussion with his unique perspective on diversity. He noted, “Diversity is something synonymous with India. We all know how diverse India is. In the global context, it’s something that I believe is unique to the Indian ecosystem as well. So, when you talk about Western Europe, you talk about the US. You even talk about China in the Far East. There’s a relative homogeneity when it comes to the languages they speak, the kind of culture they believe in, the religion they follow, and the kind of income groups that they represent. But when it comes to India, there’s a huge heterogeneity when it comes to all these parameters. An economy in a country, which is as diverse as spread out as India, with respect to demographics, geography, belief system, religion, and region. If you ask a ten-year-old to write an essay on India, the most highlighted word would probably be ‘diversity’. It’s in our DNA. Now, is this diversity a boon? That’s the question we need to explore.”

Sharing his insights, Lakshman Velayutham said, “Customising marketing campaigns is vital, given India’s varied customer segments. We’ve localised our communication to relate to our audience, with great success. For instance, we tailored our messaging when we launched in Bhopal, Thiruvalla, and Perambur, respecting the local culture and context.”

Sharing some of the experiences, he said, “When we launched in Bhopal, we didn’t just say we’re here. We said, ‘Jhumka Bareli wala, now banking Ujjivan wale’. We wanted to connect with the local culture.”

Continuing further, he said, “On the occasion of India’s 75th Independence, we tweaked our FDA interest rates to 7.5% for 75 weeks and we ran a 360-degree campaign across the board. This is one way how we localise in terms of what’s happening in the community or what’s happening in the region and how we make ourselves relevant in the form of communication.”

Ram Vinayak Deshpande added here, “Diversity is our reality. There’s no one-size-fits-all strategy for India. We’ve identified access to capital as a common need for small businesses. It’s a challenge, but it is also an opportunity. Diversity is a strength, not a hindrance. Diverse, yet true to what everyone needs – this is our approach.” Adding further, he said that diversity is not a challenge to overcome, but a puzzle to solve.

Speaking about the kitchen appliances industry, Anil Gurnani noted, “In the kitchen appliances industry, diversity is ever-present, reflecting the diverse eating habits and cultures across India. We customise our products and marketing strategies for different regions. For example, we offer inner lid cookers in the North and outer lid cookers in the South. Additionally, religious beliefs play a role in product preferences. We must respect these cultural nuances.”

Adding further, he said, “Diversity not only affects product strategy, but also communication. It is crucial to address regional sensitivities and cultural preferences in marketing campaigns. For instance, showing a pressure cooker making Pongal in Delhi will not resonate with the local culture.” More than just product strategy, it is about understanding the culture and habits of each region.

The marketing experts agreed that embracing diversity in marketing is not just about acknowledging differences; it is about understanding and respecting them. Customisation, data-driven decisions, and cultural sensitivity are vital in creating successful marketing campaigns in a diverse and culturally rich country like India.

These are edited excerpts. For the complete panel discussion, please watch below:

https://www.youtube.com/watch?v=epKkeK-0Qog