What is driving this change in consumers as well advertisers? Why these once-famous brands no longer find enough share of the consumer mind space? Is the definition of consumer goods as a brand is changing? Or are the media formats, television and print mainly which these mass brands use to reach out to their audience, are no more the first choice of entertainment for a majority of the new consumer world, and that they're opting for more engaging and experiential brands and media vehicles?

While many reasons can be cited as the causes for this drastic change in the world of brands and branding such as the emergence of many new forms of entertainment - be it the mobile phones that have become an all-in-one device, or the wide new world of entertainment and opportunities the Internet offers in terms of social and professional networking, entertainment and even advertising—and the resultant absence of the right kind of audiences for these brands, the media fragmentation that has become an insurmountable reality or the fast declining interest in mass advertisements of the key consumer segments, among others. But I would like to discuss mainly the rise and rise of a whole new breed of brands which are engaging consumers in multiple ways as the main catalyst for this shift. And the brands that hold the maximum space in consumer mind today are, to me, telecom brands, modern retailers, realtors, media and banking and financial services. Why?

 

The simple answer is that these new marketers have suddenly come onto the centre stage. Because they are engaging consumers in multiple ways. And remember today's consumers no longer want to listen to or watch the same old television spots tweaked a bit here and another bit there. They want marketers and their products to engage them in a manner that is more meaningful and more value for money.

Let's look more closely at some of these brands. Take the runaway success story that the telecom space led by mobile operators have become today. A decade ago it was meant for the rich and the famous, but not any longer. From the richie-rich to the man on the street, nope even the newspaper hawkers and fish and vegetable vendors cannot live without this little device, which no more is a tool to connect with but a holistic entertainment device that can also be used to talk to, but more importantly can do much more—from listening to music to capturing the best moments of your lives in stills as well in motion pictures. Or look at the red-hot modern retailers who within a short span has become hot brands. And the biggest problem that these retailers causing is ringing the death bell of many traditional brands with their private labels. If not convinced as yet, look at real estate. Today realtors are talking to and engaging consumers much more than any of consumer goods marketers do. Similar is the case with the old media brands which are thriving today like never before despite all the talks of the new media pushing them down into the oblivion.

What is more ironical is the fact that consumer goods brands are not only losing the share consumer mind space but also their interest in these companies as well. I need not elaborate on this because all it needs is to look at the consumer goods stocks. HindLevers was once the first choice for a bull on the bourses but not any more. HindLevers is no more a blue-chip script for a majority of investors today, but the telecom, media, retail and realty stocks are.

Yes, it seems that we need to redefine the definition, or at least the weighting it is still accorded within the world of branding. Just because the consumer has changed and so should the brands too.