With the magnificent success of recognizing few Iconic Brands of India in the year 2017, we at The Economic Times are pleased to announce the 2nd Edition of The Economic Time Iconic Brands 2018. An endeavour mined to feature successful brand stories by outlining the DNA of the legendary brands of Indian origin who have taken a deep dive into what has made these brands stand out and what are they doing as an ongoing process to live up to the iconic status.
Tomorrow’s world belongs to those who create, own and nurture intellectual capital. Such ownership of intellectual property, manifest in brands which provides a superior basis for sustaining competitive advantage over the long run. Brands are a guiding light in a market full of products. They are more about “choice” rather than just an option which channelizes consumer behaviour in a certain way by guiding them in a crowded marketplace full of “me too”. With a tremendous increase in globalization and international trade, a number of international brands have entered in India considering it as one of the fastest growing and highly competitive markets in the world. While many failed to understand the needs of Indian consumers as well as the market characteristics but there are a few of them who have been successful in positioning their brands into the Indian market. As India is characterised by the presence of diverse cultures there are few Indian brands that have survived and maintained their prominent position even after decades of globalization that are familiar throughout generations. While a few of them have built an international presence for themselves, major of the brands have a national presence especially in the Tier 2 and Tier 3 regions of the country by successfully capturing hearts of millions. Brand resonance means a strong association between a consumer and the brand. Indian brands have been able to make such a strong resonance connection with the consumers. As they have come a long way and are in an advantageous position from the perspective of the price points & ‘value for money’ offered by them. Customization and innovation is essential for brands to survive, compete & sustain. Prime Minister Narendra Modi’s Make in India drive has encouraged domestic companies to increase production within the country & create millions of job which will further help to develop Indian brands further.
The Economic Times Iconic Brands is one such endeavour that aims to highlight the journey of few brands to achieve iconicity, and maintaining the same over the decades. As, Iconic brands are those that command mind awareness, recall success and the benefit of instant association, even among consumers who do not frequently buy their products, or are not even a part of the target audience. Iconic brand also has the potential to become the identity of an entire ecosystem and is well positioned to outlast products and markets cycles.
Winning brands are the badge of a country’s economic competitiveness. Brands capture value for the nation in numerous ways – creating intellectual capital, boosting R&D and innovation, creating large-scale livelihoods by empowering value chains, investing in physical infrastructure and expanding markets. The 2nd Edition of The Economic Times Iconic Brands 2018 will feature success stories from indigenous brands who have set an example to the world and will provide much needed inspiration for brand owners and custodians to take their story forward and also live up to the legacy respectively.
‘Brewed to Perfection’: Building Brand Legacy for the age of now
Brand Rewired: Connecting Branding, Creativity & Intellectual Property
Strategies to Develop Competitive & Sustainable Businesses
Evolving Indian Consumers & Changing Consumption Patterns
The Economic Times Iconic Brands of India 2018 | Mumbai
We, at The Economic Times, as a part of the 175 years of legacy of The Times Group, have been proud witness to some of the most successful brand stories in India, which have come to represent something more than just a product or a service. Iconic status, which have traditionally been built over decades is enjoyed by a relatively few brands.
The Economic Times takes this opportunity to acknowledge, celebrate and eulogize Iconic Indian brands, which have not just succeeded in being at par with global competitive brands, but have also international brands on the edge.
It is a proud moment as we announce the launch of the most comprehensive study through the coffee table book titled “Iconic Brands of India 2017”, which will feature successful brand stories and also outline the DNA of these legendary brands, taking a deep dive into what has made these brands stand out and what are they doing as an ongoing process to live up to the iconic status.
The brand should have originated in India
Substantial publicly available data about the Brand
Brand awareness plays a significant role in consumer’s purchase decision
Positive economic profits associated with the Brand
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