Concrete

Consistency in branding is crucial for brand recognition

Published

1 year ago

July 17, 2023

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Jacob Mathew, Head Communication, Penna Cement Industries, discusses the importance of focussed marketing and branding strategies for cement companies to stay ahead of the competition.

How important do you think branding is for a cement manufacturer in today’s competitive market?
In the cement sector, brand perception is a significant factor in promoting the secondary sales demand, especially in the retail segment. It helps to create a solid and recognisable identity, differentiate the brand from competitors, build customer trust, and establish a positive reputation. A well-developed brand can significantly influence customer preference and purchasing decisions in the present market. All the major cement players have been working towards enhancing the brand recall value, which has, in turn, improved the price.

What specific strategies or initiatives do you undertake to differentiate your cement brand from competitors in terms of branding?
We have been working on our branding efforts in a manner which is more effective and can reach the right target audience. Recognised for our innovative management by Golden Peacock awards, we focus on unique value propositions such as product quality, durability, and customer service to differentiate our cement brand from competitors. We mainly target the spending via below the line activities in targeted markets and engage the customer through tailor-made influencer schemes, such as mason/contractor programmes and channel connect meets. Thus, we ensure continuous visibility and top-of-the-mind recall for Brand Penna.

How do you ensure consistency in branding across different product lines and markets?
Ensuring branding consistency is done by setting up standard brand guidelines. Consistency in branding is crucial for brand recognition and customer trust. We establish clear brand guidelines that outline the brand’s visual identity, tone of voice, and critical messages. All the activities we engage with are within the SOPs to maintain the same procedural flow in case of different markets and across various products.

Have you conducted any market research or surveys to gauge the effectiveness of your cement brand? If so, what were the key findings and how did you respond to them?
We have been engaging in various research activities to understand our brand perception and how well we are connected to the market. The ongoing process is done with the help of primary and secondary research.
Primary research is done with the use of defined questionnaires and to a targeted market conducted by our techno marketing team and the outsourced agencies. The secondary research is done through published research reports, various articles, and industry sources. All the data accumulated via the same is evaluated and comprehended to reconstruct and redefine our target markets, wherein we increase our brand activities. The key findings help us identify areas of improvement, uncover customer needs and fine-tune our marketing strategies.

What role does sustainability play in your cement branding? How do you communicate about your sustainability efforts with your customers?
Sustainability is a critical aspect of our cement branding, along with a focus on ESG. We integrate sustainability into our brand messaging by highlighting our eco-friendly manufacturing processes, use of recycled materials, and energy-efficient operations. In the case of marketing, our concentration has been mainly on increasing blended sales. We have been converting specific markets to only blended cement to initiate sustainability and understand the market’s outlook for future requirements. We have also been working on introducing new products to substitute our
high-grade cement with the launch of Penna Concrete Guard, a green cement. We continue to focus on other continuous product development and integration.

How do you leverage digital platforms and social media to enhance the visibility and reach of your cement brand?
With full accessibility to digital and social media platforms, even in the tier II and III markets, customer engagement activities and communication for brand visibility are taken up. We actively leverage digital platforms and social media to increase the visibility and reach of our cement brand. We maintain an engaging website that provides comprehensive information about our products and sustainability initiatives. We also utilise social media channels to share informative content, engage with customers and address their queries. We have adopted the latest CRM/Visualisation/Optimisation tool technologies to create data centricity to help customers and channel partners. Our channel partners can access these dedicated portals through which brand and related communication happens. Additionally, we invest in targeted digital advertising campaigns to reach specific customer segments and maximise our brand exposure.

Can you share any examples of successful marketing campaigns or initiatives that have significantly boosted your cement brand’s recognition and sales?
One of the successful marketing campaigns has been the launch of Penna Concrete Guard. With the product belonging to our premium product segment, we have increased the counter sales with the help of creating a higher secondary demand for the product. It was done with the help of concentrating our spending on specific retail-based channels to increase sales and maintain the price. With this objective, we have expanded our brand position across various markets.

How do you handle any negative brand perception or reputation challenges that may arise, such as product quality concerns or environmental impact controversies?
Understanding the brand perception across markets and customers in the way of negative or positive outcomes is essential. For all the negative perceptions, we have understood the root cause for the same and to effectively resolve the same at the earliest.
Such as, in the case of product quality concerns, our dedicated technical team gives complete assistance to the sites to understand the cause and find a workable solution as per their requirement.
On the aspect of environmental impact, we have been working towards renewable energy in the form of setting WHRs and our proposed solar power plants.

-Kanika Mathur

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JK Cement marks 140 years of innovation and leadership

JK is one of India’s leading manufacturers of Grey Cement in India

Published

2 days ago

September 17, 2024

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JK Cement Ltd. a leading building material company, one of India’s leading manufacturers of Grey Cement in India and one of the largest White Cement manufacturers in the world, celebrated 140 years of JK Organisation’s remarkable legacy at a grand event in the capital. The event honoured the group’s rich history, its significant contributions to multiple sectors of the Indian economy, and the unwavering dedication of its employees and partners.

The celebration gathered dignitaries, industry leaders, employees, and key stakeholders to reflect on JK Organisation’s journey from its inception to its present status as a global leader. Lieutenant Governor of New Delhi, VK Saxena, who himself started his career at JK Cement, along with Rajeev Shukla, Member of Rajya Sabha, graced the occasion. Key leaders of the JK Organisation, including Dr. Nidhipati Singhania, Vice President, JK Organisation, Dr. Raghavpat Singhania, Managing Director, JK Cement, and Madhavkrishna Singhania, Joint MD and CEO, JK Cement, were present to mark this significant milestone.

CEO’s from various known business houses both Indian and Multinational companies across sectors graced the occasion.

Reflecting on the organization’s journey, Dr. Nidhipati Singhania, Vice President, JK Organisation, said, “As we celebrate 140 years of JK Organisation, we are filled with immense pride and gratitude for our legacy, which is rooted in values of innovation, quality, and service to the nation. Our journey has been as much about business success as about driving positive change in the communities and industries we serve. The milestones we have achieved reflect our continuous efforts in advancing India’s infrastructure and industrial landscape.”

One of the key highlights of the evening was the recognising the long-serving employees and partners who have dedicated decades to JKCement. Their enduring loyalty underscores JK Organisation’s foundational values of trust and collaboration, which have been pivotal to the organisation’s success.

Addressing the guests at the event, Dr. Raghavpat Singhania, Managing Director, JK Cement, said, “This year along with the 140 years milestone, also marks two significant milestones for us: 50 years of grey cement business and 40 years of white cement business, affirming our leadership in the industry. Our recent expansion into coal mining underscores our commitment to vertical integration and sustainable resource management. We are dedicated to not only adapting to the evolving landscape but also driving positive change and creating lasting value for all our stakeholders and the nation.”

Emphasising the company’s commitment to innovation and progress, Madhavkrishna Singhania, Joint MD and CEO, JK Cement, said, “Our journey has been marked by resilience, adaptability, and a constant drive to exceed expectations. We’re committed to leveraging cutting-edge technology and sustainable practices to not only maintain our market leadership but also to contribute significantly to India’s progress. The trust of our stakeholders and the dedication of our team members have been instrumental in our success, and they will continue to be the pillars of our future endeavors.”

The event celebrated JK Organisation’s visionary outlook, showcasing its commitment to sustainable growth, technological innovation, and its influential role in driving India’s economic advancement.

VK Saxena, Lieutenant Governor, New Delhi, who was invited as the Chief Guest said “It’s an honour for me to be part of this landmark celebration for a company where I started my career as an Assistant Officer in Gotan, Rajasthan and worked for 11 years in different capacities with its White Cement plant. This exposure gave me insights of a corporate working, faster decision making and team work, which has helped me throughout my various stints thereafter. I wish all the best to JK Cement for all their Future endeavors in Nation Building”

Concrete

Steel Ministry Proposes Rs.23.52 Lakh Crore for Decarbonisation

Steel Ministry unveils massive decarbonisation plan.

Published

3 days ago

September 16, 2024

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Decarbonisation Proposal:
The Steel Ministry has outlined a substantial Rs.23.52 lakh crore proposal aimed at decarbonising the steel industry. This initiative is part of the broader sustainability and environmental goals set by the Indian government.

Objective and Goals:
The primary objective of the proposal is to reduce carbon emissions significantly and enhance the environmental performance of the steel sector. This aligns with India’s commitment to climate action and green growth.

Investment Focus:
The proposal will channel funds into advanced technologies, energy-efficient processes, and renewable energy sources. Key areas of investment include electrification, hydrogen-based steelmaking, and carbon capture technologies.

Expected Benefits:
Implementing this plan is expected to lead to major reductions in carbon emissions, improve air quality, and contribute to sustainable development. It will also bolster India’s position as a global leader in green steel production.

Industry Impact:
The steel industry, being a major emitter of greenhouse gases, will undergo a transformation. This shift will require industry-wide adaptation and could influence global steel market trends.

Government Support:
The Indian government is committed to providing policy support, incentives, and regulatory frameworks to facilitate this transition. This includes subsidies for green technologies and research and development funding.

Timeline and Phases:
The implementation will be carried out in phases over the coming years. Short-term goals will focus on immediate emission reductions, while long-term goals will target more comprehensive technological advancements.

Stakeholder Involvement:
Collaboration with industry stakeholders, technology providers, and research institutions will be crucial. Engagement with local communities and environmental groups will also play a role in ensuring the success of the proposal.

Challenges:
The initiative may face challenges such as high costs, technological barriers, and regulatory hurdles. Addressing these challenges will be essential for the successful execution of the decarbonisation plan.

Future Outlook:
The proposal positions India as a key player in the global movement towards sustainable steel production. It sets a precedent for other sectors to follow and supports the country’s broader climate goals.

Conclusion:
The Steel Ministry’s proposal for a Rs.23.52 lakh crore decarbonisation plan represents a significant step towards reducing carbon emissions in the steel industry. With substantial investment in green technologies and strong government support, this initiative aims to drive sustainable growth and position India as a leader in environmental stewardship.

Concrete

New home prices in China fall 5.3% in August 2024

New home prices were down 5.3% from a year earlier.

Published

3 days ago

September 16, 2024

admin

Official data revealed that China’s new home prices had fallen at their fastest rate in over nine years in August, as supportive measures failed to induce a significant recovery in the property sector. The data showed that new home prices were down 5.3% compared to the previous year, marking the sharpest decline since May 2015, compared to a 4.9% drop in July, based on calculations by Reuters from National Bureau of Statistics (NBS) data. Monthly figures indicated that new home prices had fallen for the fourteenth consecutive month, decreasing by 0.7%, which was the same drop recorded in July.

The property market in China continues to struggle with deeply indebted developers, incomplete apartments, and declining buyer confidence, which is putting a strain on the financial system and threatening the 5% economic growth target for the year. A Reuters poll had forecast that home prices in China would decline by 8.5% in 2024 and by 3.9% in 2025 as the sector struggles to stabilise.

Zhang Dawei, chief analyst at property agency Centaline, mentioned that the property market is still gradually bottoming out, with home buyers’ demand, income, and confidence expected to take some time to recover. He noted that the market was anticipating a stronger policy response. According to the official data released on Saturday, property investment had fallen by 10.2% and home sales had dropped by 18.0% year-on-year in the first eight months of the year.

Chinese policymakers have stepped up efforts to support the property sector, including reducing mortgage rates and lowering home buying costs. These measures have partially revitalised demand in major cities, while smaller cities, which have fewer home purchase restrictions and high levels of unsold inventory, are particularly vulnerable. This situation underscores the difficulties faced by authorities in balancing demand and supply across different regions.

In a research note on Friday, Nomura indicated that with the growth slowdown worsening under new headwinds in the second half of the year, Beijing might eventually need to step in as the “builder of last resort” by directly providing funding to delayed residential projects that have already been pre-sold. According to Bloomberg News, China may cut interest rates on over $5 trillion in outstanding mortgages as early as this month.

To support these mortgage rate cuts, economists at ANZ suggested that a reduction in the five-year Loan Prime Rate was likely in September, along with a 20 basis point cut to the medium-term lending facility (MLF) and a 50 basis point cut to the reserve requirement ratio (RRR).