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FCB ULKA COMSTRAT 2004 The K. J. Somaiya Institute of Management Studies and Research, in collaboration with leading Advertising agency, FCB Ulka Advertising Pvt. Ltd., staged FCB ULKA COMSTRAT 2004, an inter-management institute Communication Strategy Competition on 4th December 2004. The communication strategy was designed for a contemporary and live case study: IOCL's XTRAPremium. From a slew of entries from right across the country, FCB Ulka identified the four best analyses of the case at hand. And on the big day, four 3-member teams representing NMIMS, Mumbai; MICA, Ahmedabad; N. L. Dalmia Institute of Management Studies and Research, Mumbai; and the hosts, SIMSR, Mumbai were given the opportunity to present their views of the prevailing situation at hand in terms of consumer perception of IOCL's branded fuel, XTRAPremium, and suggest means of improving its brand image and positioning in the minds of the consumer. It was also incumbent upon the teams to identify the most appropriate communication, product and pricing, and retail strategies, in order for XTRAPremium to grow as a brand and benefit from the suggested measures. The teams were given 20 minutes to impress upon an able and percipient jury comprising of Mr. Vardhachari, Chief Manager, Branding, IOCL; Mr. Kinjal Medh, strategic planning wizard and COO, Cogito Consulting, the new brand-consulting agency within the FCB-Ulka group and Mr. Dorab Sopariwala, Director, ORG-MARG, Member of the Board of Governors of The Advertising Standards Council of India, and NDTV's favourite psephologist and advisor, the merit of their arguments. The teams brought out the issues affecting IOCL with regard to their branded fuel in the recently deregulated Indian Market. Backed by painstaking market research, brand prisms and FCB grids, the teams set up and supported their propositions. From attributing a brand personality to XTRAPremium and roping in Rahul Dravid for endorsement, to deploying the magic that only a brand mascot can bring, to striking deals with corporate entities that reimburse fuel expenses of execs, to striking up mutually beneficial relationships with vehicle dealers and mechanics and fuel pump attendants, the teams came up with innovative and carefully thought out tactics to improve XTRAPremium's branded fuel revenues and increase their share in the branded fuels market. They also came up with ideas to grow the branded fuel category and then demonstrate the technical superiority of XTRAPremium so that more people would switch to IOCL's branded fuel from regular fuel.
At the end of the day, the jury decided on the top three teams and awarded prizes sponsored by FCB Ulka and ITC Ltd., to:
To wrap up an exhilarating afternoon, Mr. Vardhachari gave his views of what he thought were the issues facing XTRAPremium, and elucidated on what he thought were the 'right moves' for IOCL in the near future. At the end of the day, every member of the appreciative audience walked away a little smarter, a little wiser, with a more realistic view about brand building and in anticipation of IOCL's 'right move'. Click here to post your views/ comments/ experince on this... Contributed by - |
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