Conventional Advertising still on top
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IndianTelevison: In a recent online survey conducted in 41 countries around the world, ACNielsen asked consumers what helped them to arrive at their final decision when it came to purchasing a variety of products. Conventional advertising, the most likely purchase influencer overall, is a dominating decision-influence for consumers in India when it comes to ‘investing’ in very personalized items like Holidays (41%), Jewelry & Watches (35%), Fashion (49%) and personal financing like Loans (39%).
For Indians, word of mouth also acts as a big influencer, especially while investing in big-ticket items like Cars (51%) and choosing financial institutions like banks (43%).
Sarang Panchal, Executive Director, ACNielsen South Asia mentioned that when the whole world is going crazy with internet and mobile marketing it is interesting to note that for Indians it’s still conventional advertising and word of mouth campaigns that attract their attention. Unlike in the West, Indians come from a very closely-knit society where people get hugely influenced by their peers, relatives and local celebrities. People are more than willing to accept a brand if it’s endorsed by their favorite superstar or is recommended by their close associates. So while marketing a product in India, marketers should ensure that they keep their existing customers fully satisfied who in turn will act as their brand ambassadors.
Hmm.. While i agree with the above statement and with the findings of ACnielsen. I see a major shift as how word of mouth is happening today. Today word of mouth spreads through cht rooms, emails and now ever so popular social networks. How can one describe the brand value creation of orkut.com among Indians without even one conventional ad? I think internet is increasing the word of mouth aong the you and thereby being an indirect influencer on investing decisions!
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