What Helps a Brand Make A Comeback? Here's What BPL Did To Get Things Back On Track! Company did not compromise on pricing despite being on an e-commerce platform
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A consumer's memory is very short-lived! It today's day and age, where consumers are exposed to an array of choices of brands at malls and online marketplaces, it becomes very difficult to sustain consumer loyalty. Startups and corporates often find it difficult to get its mojo back once it loses consumer interest in the market.
In this jungle, BPL, which was India's largest durable firm in the 90's, decided to make a comeback after having exiting the business in 2005 post a collapse of its JV with Sanyo.
BPL decided to re-enter the consumer electronics business when Flipkart approached the manufacturing scion to revive their brand via e-commerce platform.
Here's what BPL's Managing Director Ajit Nambiar had to say on what it takes to revive a brand and win back its loyal consumers. Here are some excerpts derived from the interview --
- Maintaining high product quality – the company never compromised on product quality when it decided to re-launch on the e-commerce platform. The consumer at the end of the day wants a good quality picture at the end of the day, and that has always been BPL's forte.
- Not compromising on pricing – an e-commerce platform did not persuade the veteran favourite to compromise on pricing of its product. It relied on the consumer loyalty and decided not to fall prey to any sort of mind-boggling discounts. "Our brand is something that draws customers and not discounts," General Manager Manmohan Ganesh said
- Adapting to the market environment – BPL adapted itself to changing consumer tastes and trends.
- Tracking customer feedback seriously -- Company keeps a very close watch on customer reviews that come to them via Flipkart and other channels
