Goafest 2023: Bonding with brands - Yeh bandhan toh pyaar ka bandhan hai: Marketers

Day 1 at the 16^th edition of Goafest 2023 commenced with a panel discussion gauging ‘The future of creativity’. This was followed by another insightful knowledge session, titled ‘Brand Love Suffering at the Altar of Short Term Sale’, which was presented under Industry Conclave powered by ABP News and Zee TV.

Moderated by independent journalist Anuradha SenGupta, the panellists included:

Hemant Malik, Divisional Chief Executive, ITC’s Foods Business & Member of Corporate Management Committee of ITC Ltd

Rohit Kapoor, Chief Executive Officer, Swiggy

Prabha Narasimhan, MD & CEO, Colgate-Palmolive India Ltd

The session emphasised on the importance of brand love as it creates strong emotional bonds with the audiences, driving customer loyalty, advocacy, and higher engagement, resulting in sustained business growth and a competitive edge in the market. The panellists also discussed the technological advances that have taken place over the last few years and the cyclical impact they’ve had on the audience and, in turn, the brand and love for it.

Having said that, there was an agreement that the fundamentals of brand love largely remain the same.

Replying to a question by Anuradha SenGupta, Hemant Malik said, “It’s a great time for marketers today! We are all enabled because we are able to make decisions with utmost clarity. However, while data helps you, it also makes you vulnerable.”

Commenting on the synergy between teams and departments at the brand’s end, Rohit Kapoor noted, “CEOs and creatives have too much distance between them. This needs to be corrected.”

The session concluded with Anuradha SenGupta asking each panellist about their expectations from the agencies. Each one unanimously agreed that they need to keep learning from and being challenged by the agencies.