Concrete
Impactful Branding
Published
2 years agoon
By
adminAs the marketing scenario rapidly shifts to accommodate trends and customer preferences, cement companies need to reinvent their branding strategies. With the onslaught of digital marketing, especially social media, the branding exercise has taken on a new avatar. We unravel the nuances of branding, advertising and marketing communications for cement companies as each one vies for their share of the customer’s attention, and get experts to share their winning strategies with us.
How does one create loyalty for the product they have on offer? How do they communicate about what their product is all about? How do they stand apart from the clutter in the market? The answer to all these questions is branding.
A branding strategy by definition is a long-term plan to achieve a series of long-term plans to achieve a series of goals that ultimately result in the identification and preference of the brand by consumers. This strategy encompasses the brand’s mission, its promises to its customers, and how these are communicated to send the right message to the right audience.
Any product or commodity needs a branding strategy because branding promotes recognition. A good branding strategy helps build a loyal customer base, sets your product offering apart from competition and allows you to build a standard communication across all channels with a vision and mission in mind and connect emotionally with your customers.
“Although going against the tide of producing easily marketable cement, JSW Cement has chosen the less travelled path by producing cement, which is least harmful to the environment, hence, this makes us the leading producer of green /sustainable cement in India. This feat is achieved by using raw materials like slag and having efficient processes, which reduces carbon emissions by one-third of world industry average,” says Gurminder Singh, Head – Branding, JSW Cement.
“Promoting sustainable living coupled with the unmatched physical strengths of slag cement forms the basis of our branding strategy. We promote this through – TVC, giving sustainable gifts, using eco-friendly raw materials etc.,” he adds.
Changing the marketing game
Cement is a commodity widely used across the globe and there are many cement players in India as well. Branding allows them to stand apart from the competition and get a hold on the market share with its various efforts, like production, distribution, marketing etc. According to Statista reports in FY2020, Ultratech Cement held the highest market share in India with 31 per cent of the total market. Followed by Ambuja Cement with 21 per cent market share, ACC Limited with 12 per cent market share and so on.
Agnes Rozario, Manager – Brand and Customer Excellence, AKB Group says, “Building a brand in the cement industry is multidimensional but not bewildering. The Indian subcontinent has seen some very well-known brands crafting remarkable campaigns to make a mark in customers’ minds and all of them indulged in the product, service innovation and customer excellence. As we focus on the current scenario, householders account for almost a larger part of cement consumers, very evidently pointing out that this industry in India has become a brand-conscious segment with a constant need to brand the cement. Brands like JK Cement, UltraTech Cement and ACC deployed 360-degree consumer benefit-based positioning strategies for but not limited to OOH, print media, electronic ads, etc. We witnessed brands using humour (The Great Khali ad of Ambuja Cement), onboard celebrities like Amitabh Bachchan and Sourav Ganguly to amplify their personal brand in building awareness for the company’s USPs.”
“With a plethora of multi-channel brand activities taking place, we feel that players in the Indian Cement industry are breaking the ceiling of traditional brand marketing and adapting new viewpoints. To cement brand value in the market, consistency and the ability to vary has been the key for any successful player today,” she adds.
A November 2021 report by EPRA International Journal of Research and Development (IJRD), states that the cement industry is required to operate in a social and environment that needs to handle a market of continuous changing customers’ product preferences. The production and marketing development becomes a major activity for the cement industry of these companies. The marketing environment in the industry is competitive and dynamic and slowly all the companies are adopting new age, digital based and unique marketing strategies to be in competition in the Indian cement market not only for survival
but also for growth and development in the cement industry.
Customer-centric approach
A study conducted by Dr Pawan Kumar Dubey, Dr Umesh Kumar and Dr Arivend concludes that cement companies are well aware of the importance of focusing customers. Cement companies are willing to cater new customer segments. It shows the level of competition among the existing cement companies in the market. Any company offers a product or service in the market immediately introduced by its competitors in the market. It can be inferred that the cement industry is highly competitive.
The results also show that technology plays an important role in the growth of the cement industry. Companies have to be ready for the change in the technology to utilise this opportunity. It is required for cement companies to keep the same pace in the change in the technology within the company to contribute to the industry as a whole. They must also check about the benefits they are getting from this contribution and act accordingly.
Cement organisations are moving digital, especially in the post pandemic era. They are launching campaigns to connect with consumers of the younger age group too. Companies are touching upon issues that matter to the environment and other important issues through their digital campaigns. In January 2022, Ambuja Cement and ACC limited launched their first corporate campaign #ChangeTheStory that highlights the plastic removal efforts of the cement majors in the country. The #ChangeTheStory campaign expects to elevate the narrative around sustainability challenges with a sense of urgency by showcasing technology-backed solutions that offer effective and measurable outcomes. This campaign aims to rewrite the problems of the present and create solutions that will benefit the future of society.
Another top cement brand JK Cement launched its digital-first campaign, WallMax, to reiterate its position as the No.1 Wall Putty brand in India. The brand has adopted a 360-degree route to amplify the message, commencing with a series of quirky and intent-driven films on social media. The campaign conveys the message that attaining the No.1 position gives a proud feeling but it comes with the responsibility to create a difference in the lives of the customers.
Socially inclined
“Social media and digital marketing have picked up a lot in recent times. We are a young brand and right from the beginning we have been active on social media platforms and digital channels. We are working hard on these mediums and have been doing a lot of campaigns like People of Wonder, Stories of Wonder etc. where we engage our network, architects, contractors, masons and everyone involved with the brand,” says Siddharth Singhvi, Associate Vice President – Business Excellence, Wonder Cement.
“One of the biggest activation campaigns we did was in 2015. We thought of doing a customer activation through cricket and named it ‘Saath Saath Cricket Mahotsav’. At that time, we involved more than two lakh people on the ground directly and they played with us. Multiply that with their family members coming to see the matches, so all in all we touched about 2.5 to 3 crore people across Rajasthan, Gujarat and Madhya Pradesh. This was a path breaking campaign, one of a kind campaign done by a cement player,” he added.
Branding has always been a vital part of business, but it may be more important now than ever before. With social media, consumers get exposed to new brands every day. This can be great for consumers who have plenty of options and are able to do research to find the best one, but it makes it harder for businesses.
Branding helps the company build trust with its customers by communicating its mission and creating a promise of delivery quality. It helps create advertising for your product and build a connection with your customers and gain their loyalty. Branding is giving your product and organisation a personality, a voice, identity and positioning in the market.
–Kanika Mathur
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Concrete
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 agoon
September 17, 2024By
adminJK 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 agoon
September 16, 2024By
adminDecarbonisation 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 agoon
September 16, 2024By
adminOfficial 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).
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