Future Generali

What aspect of a product should brands focus on - desire or functionality?

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Rakesh Wadhwa:

In a crisis situation like these, there is a separation between need and desire categories. So people become more rational and they start scrutinizing their expenditure more in these times. So much of the brands do, should we continue focusing on creating a desire for their products? And therefore drives some relational behavior. I don't know if that's true, but that's possibly the question or they should just focus on the functionality of what the product delivers.

 

Rama Bijapurkar:

They should throw theory and labels out of the window, they should go back to their customer. And say, what is the value space on what is important? If I'm never going to see my grandchild then to absolutely upgrade my equipment, my viewing equipment so that I can actually get as close to my grandchild as possible.

Is that a need? Is that a desire? Is that a luxury? I don't know. If I don't have big luxuries, if I can't go out, if I can't go do destination weddings, If I can't do a lot of that stuff, what is it that I will do in order to reward myself. You might find the cultural labels of categories are changing and changing, quite dramatically.

So I think, for example, someone told me that the two wheelers going to change its label because a lot of people are going to be concerned for safety or public transport. So the two Wheeler from a productivity tool has actually become a safety tool. So that's what you have to watch out for throw away theories, go back to the customer.

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