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Creating value through differentiation

Creating value through differentiation

News Patrolling 3 years ago

By taking the road less travelled, a few select brands have created value and sparked customer delight, in the process being recognised as the Most Trusted Brands of India 2023

The rules of engagement as we know it in the social and real world have changed dramatically. At one time, brands single-handedly drove the narrative and put forth their own story in a way that was authentic to them. However, it has been seen increasingly in the past few years that consumers and users seek to align with brands that resonate with their own personal values and sense of purpose, in the process causing the user to be equally involved in driving brand stories.

This shift in the marketing landscape has been a great equaliser, and a few brand boffins realised this, differentiating their offering by reshaping its core proposition in keeping with the times. This is no mean challenge, as simply doing so as an act of lip service will be seen through in double-quick time. That makes it critical for brands to put forth their brand differentiation, but in a manner that is authentic and credible.

Trust and authenticity: critical success ingredients

As the marketplace gets crowded and competition fierce, brands have come to understand that trust becomes a major differentiator that makes or breaks a brand. Marketers and brand custodians realised that a brand's ability to deliver on promises, create consumer experiences, and provide value to its customers consistently through its product and services are factors that make a brand stand out. And the Most Trusted Brands of India 2023 lauded brands that have successfully reigned supreme in the hearts and minds of consumers and in the process embodied the spirit of brand purpose.

Taking a research-based approach, Team Marksmen celebrated brands worthy of this accolade by using multiple parameters. This rigorous process then helped shortlist brands and understand which of them were truly worthy of being lauded.

The brands comprising the exclusive galaxy of Most Trusted Brands of India 2023 include:

AkzoNobel India (Dulux)

Granules India Limited

Amulya Mica

Avery Dennison India

BIRLA HIL PIPES

Clear

CP PLUS

Dr. Ortho

Duroflex

East West Pharma

Enamor

EQ India

Fenesta Building Systems

Fossil

Gemini oil

GreatWhite Electricals

Haier Appliances (India)

Hettich India Private Limited

Hitachi Energy

IIFL Finance

Indian Bank

Intervalve Poonawalla

Kaya Limited

Kisan

KONE Elevators India

Kotak Mahindra Bank

Listerine

LUX COZI

Macmillan Education India

Motorola

MSP Steel

Muthoot FinCorp

MyTeam 11

Nature Fresh

Nayara Energy

NTT Ltd. India

Orient Electric

ORRA Fine Jewellery

Pankajakasthuri Herbals India (P) Ltd

Parexel

Pet saffa

Reliance Digital

Reliance MET City

Rinac India Limited

Roop Mantra

Sharekhan Limited

Shirdi Sai Electricals Ltd.

Sprite India

Sri Balaha Chemicals

Switch Mobility

Taj Mahal

Tata Motors

Tata Shaktee

TCI Express

Vijaya Diagnostic Centre

This industry-led and research-driven knowledge platform saw industry doyens converge and delve into what it takes to build a winning brand, how to shape the consumer experience through omnichannel strategies, build long-term consumer trust, how to create brand affinity, the evolution of brand-building, and much more.

The line-up of experts offering their perspectives included Shubhranshu Singh, VP Marketing, Tata Motors' Commercial Vehicle Business Unit; Elizabeth Venkataraman, Joint President and Head of Marketing & Alliances, Kotak Mahindra Bank; Krunal Desai, Director Marketing, ZEE5 Global; Jean-Christophe Gougeon, Director and Chief Marketing Officer, Sharekhan by BNP Paribas; Manashwi Banerjee, Head of Communications India & South Asia, Hitachi Energy; Prasenjit Roy, Chief Marketing Officer, NTT India; Deepak Gaur, Director, Advisory Experience Consulting, PwC India; and Josy Paul, Chairman and Chief Creative Officer, BBDO India.

Offering his thoughts on the sidelines, Akash Tiwari, Co-Founder, Team Marksmen Network, said, "Brands are so much more than a collection of features and benefits. They are a critical part of our lives and cultural fabric, and as the marketplace gets crowded and competition becomes fierce, custodians have realised that trust is a key differentiating factor that can build a moat around the brand's bottom line. It can even protect their brand's core value proposition and protect it from any unforeseen externalities.

The brands recognised as Most Trusted Brands of India 2023 understand and epitomise this fully. It is their ability to deliver on promises, create unparalleled consumer experiences, and provide value to customers consistently that has seen them earn this one-of-a-kind accolade. But more than just appealing to the head, it is about reigning supreme in the heart that has stood these brands in good stead. We hope that their blueprint of success is one that others can learn from as well."

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