Valentine’s Day

Marketing professionals do not debate, they accept realities. They do not debate whether professing love openly on Valentine’s Day conforms to Indian culture or whether it is necessary at all. They accept the fact that celebrations on Valentine’s Day are a reality.

Marketing professionals also do not blame people or companies or countries for anything. They do not waste time in finding out which economic policy of which King, President or Prime Minister brought about this global economic crisis.

Successful marketers today know that the recession is a reality and also know that the human race cannot be kept away from love or kept away from expressions of love. They put the two together and come up with brilliant marketing ideas appropriate for the times.

A few examples are here.

Mumbai: This Valentine’s Day advertisers are betting on more than just love and fresh air. As consumers experience the pressures of a slowing economy, advertisers are putting out messages that are pragmatic, utilitarian, value-added or investment-based and appeal to a broad swathe of consumers beyond lovelorn couples.

“Recession romance” is playing out across markets this February, as advertisers across industries, including real estate, auto and media infuse their products with romance. Cleverly tuning in to the zeitgeist, youth entertainment channel UTV Bindass recently took off on the famous MasterCard ads: “Preparing for Valentine’s day? Flowers & gift: Rs1,000; hiring a limousine: Rs10,000; dinner at 5 star: Rs15,000; diamond ring: Rs80,000. Total cost: very expensive. Staying at home and watching TV instead: Free. Recession Romance”.

“We thought, for once let’s enjoy this recession and remind young people there’s a smarter way of doing this without blowing up money,” says Ashok Abraham Cherian, business head at UTV Bindass, the channel under the UTV Group, adding that the promotion was also a tongue-in-cheek way of telling them that home was the safest, non-intrusive environment they could be in today. “You’re not going to have some moral police guy come in and burst that heart-shaped balloon,” he adds.

Out Of Home Media (India) Pvt. Ltd, commonly know as OOH Media, which is India’s largest out-of-home television company, has similarly launched “LOohve Spots” on their in-store network, which listed the top five Valentine hangouts in each city. Needless to say, all were free public spaces.

Some products are being smartly positioned as good value/investments and hence V-Day gifts, in an endeavour to connect with money-conscious consumers. A 2008 World Gold Council (WGC) study claims that women consider gold a superior gift due to its implicit value. “The higher gold price has added to gold jewellery’s desirability despite these challenging economic times,” says Philip Olden, managing director of WGC.

Meanwhile, real estate company DishaDirect urges consumers to invest in a “Heartland” home for their Valentine. And touting long-term protection for one’s loved ones, Max New York Life Insurance Co. Ltd offers “Karo Zyaada Pyaar Ka Vada”.

There’s nothing like a good bargain to impress your loved one or save some chips. Witness a flurry of heartfelt sales, discounts and brand promotions.

Ads for online portal Indiatimes Shopping announced “50% Back. 100% Love”, while those for eBay India read: “Valentine’s on a budget”.

Contributed By:
Prof. P. Guha
(Globsyn Business School)

Source: http://www.livemint.com/2009/02/13213451/8216Recession-romance8217.html