Versuni: Recipes of Love
Q] Tell us about your #MakeNotBuy campaign. What was the objective behind it? Q] What was the media mix and budget allocated for this campaign? What channels have proven most effective in reaching and engaging with consumers? Q] Versuni has recently inaugurated a state-of-the-art factory and an immersive store in Ahmedabad, how does this initiative align with the brand’s overall marketing and expansion strategies in the country? How are you planning to leverage it and what are your expectations from this? Q] Are there any new product launches or categories that Versuni is planning to introduce in the Indian market this year? Q] Considering Versuni’s diverse portfolio of brands and products, what factors contribute to its current market share and target audience segmentation in India? How does Versuni plan to expand its reach and capture additional market share in the domestic appliances segment? Q] What are the key trends and developments in the domestic appliances market in India, and what opportunities and challenges do you see for Versuni in the coming years? Q] Could you share any interesting insights or initiatives that Versuni has undertaken to promote sustainability and responsible consumption within the domestic appliances industry? How does sustainability factor into the brand’s long-term growth strategy and corporate ethos? PROFILE ABOUT THE BRAND
Our campaign stemmed from observing the gradual commercialisation of love, shifting away from its essence. Love is about genuine expressions, not extravagant gifts, and we celebrate all relationships, not just romantic ones. Reflecting on our favourite expressions of love, we found food to be a common theme. Memories of someone making something special for us resonate deeply. This inspired us to emphasize the significance of personal effort in expressing love, rather than solely relying on lavish gifts.
We aimed to launch a digital-centric campaign, complemented by an offline component in stores. Given the online content consumption trend, especially among our target audience of early to late millennials and early Gen Z-ers, a digital approach was ideal. Moreover, Digital media presented the best opportunity, considering our campaign’s modest budget. We partnered with Terribly Tiny Tales (TTT), aligning with their focus. Our heartwarming video, featuring actor Mukti Mohan, is complemented by influencer collaborations and static content reinforcing the message of making something special for loved ones. Additionally, stores like Vijay Sales featured installations, encouraging customers to engage and share their love for cooking.
Versuni, which includies Philips among its brands, has been in India for over 90 years. Despite being a Dutch brand, many consumers perceive it as Indian due to our focus on the Indian market. Over 90% of our products are now locally manufactured, with our Chennai innovation centre constantly tailoring products to Indian needs. The inauguration of our Gujarat factory further solidifies the brand’s commitment. Over 90% of our Indian products are manufactured locally, and the primary focus is on air fryers. We anticipate a surge in air fryer adoption as people prioritise healthier cooking. Also, the inauguration of our Ahmedabad factory, led by our global CEO, reflects our ethos of being Indian-centric.
If you visit our website and explore our purpose, you’ll find that it is all about helping people to transform their houses into homes. Therefore, any product that simplifies home life and allows people to enhance their overall quality of life, falls within our scope. In the coming months, you can expect to see numerous exciting product launches from us.
When analysing the strength of brands like Philips and Preethi within Versuni’s portfolio, we find a significant brand preference, with both brands nearing a 50% preference rate. This strength can be attributed to over 90 years of consistent product delivery and consumer satisfaction. Products like Philips irons and Preethi mixer grinders have become household names, thanks to their quality and consumer-centric design. For example, our air fryer boasts an impressive consumer NPS (Net Promoter Score) exceeding 75%, highlighting our commitment to excellence. Additionally, our robust consumer care network ensures a hassle-free post-purchase experience, enhancing overall consumer satisfaction. Looking ahead, our growth strategy revolves around leveraging the strength of these brands and networks to introduce new products that meet evolving consumer needs.
In the Indian market, there’s a notable trend towards global exposure, driven by increased internet connectivity and international travel. This has led to an increase in demand for premium products that offer genuine value. Additionally, there’s a rising adoption of smart appliances, facilitated by high smartphone and internet penetration. Health consciousness is also on the rise, evident in the increasing popularity of air purifiers and healthy cooking options like air fryers. These trends are expected to shape the future of the domestic appliance industry in India significantly.
Globally, we have a sustainability strategy that focuses on reducing the use of unsustainable materials and prolonging the lifespan of our devices to minimize waste. Even locally, several initiatives are underway in this direction. For example, we’re in the process of launching a new range of packaging called sustainable packaging, made entirely from recycled paper. This move will significantly reduce our consumption of unsustainable materials. As a company, we are also committed to eliminating single-use plastic from our packaging. More than 90% of our new products will come in bulk packaging instead of single-use plastic.
From an Indian perspective, we strictly adhere to government regulations, particularly regarding e-waste collection and disposal. We comply with regulations that mandate companies to collect e-waste periodically, based on a percentage of their turnover. Philips was among the first in our industry to embrace these regulations, and we continue to follow them diligently. Our sustainability strategy is closely linked to our quality strategy, as our products are designed to last.
Pooja Baid is the Chief Marketing Officer at Versuni India Home Solutions Ltd. She has over 14 years of experience in building businesses from scratch and establishing brands. At Versuni, Baid is responsible for creating and accelerating the company’s marketing strategy and brands’ recognition across India.
Versuni is a global home appliances brand with more than 900 patents. It has innovation,?manufacturing,?and commercial centres across the globe. Versuni is a former business division of Royal Philips and was formerly known as Philips Domestic Appliances.
Tags : #marketing #Philips #PoojaBaid #Versuni #VersuniIndia #factory #MakeNotBuy #Ahmedabad #electronics