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Prudential ICICI on brand building drive

Purvita Chatterjee

MUMBAI, July 10

ALMOST two years after its launch, Prudential ICICI Mutual Fund has decided to get serious about its brand building initiatives with its first television commerical (TVC) already on air. While the mutual fund has not consciously stayed away from establis hing its identity, it has been waiting for the right moment to justify what was being conveyed through its TVC.

Explaining the rationale behind airing its first commercial, Mr. Ajay Kakar, Executive Director, Ogilvy Financial, says, ``We wanted to be in a position where we could deliver the promises we were making. The idea was to be sure that the standards of our services were being met.''

With an investor base of nearly 2.5 lakhs, today Prudential ICICI Asset Management Company Ltd, is among the larger players in the mutual fund industry.

Created by Ogilvy & Mather Financial & Business Communications, the 40-second commercial has been shot on Mumbai's Marine Drive by Bollywood director, Ashok Mehta.

The commercial begins with a statement that says _ `Investments, you know, are little children...' It then goes on to show a couple with their small son, who needs to be protected and cared for in the face of dangers lurking all around _ be it the waves splashing on the shores where the child is playing or the chances of his getting injured as he climbs atop a park bench.

The core message of the commercial draws attention to the nurturing and protection required in caring for one's investments made out of hard earned money. The ICICI Prudential brand is then highlighted, subtly suggesting a leadership stance for the compa ny in the industry.

The commercial seeks to use the `nurturing and protection' platform to generate more investments in its mutual fund.

Mr. Kakar further explains: ``Today, most people do not have the time and are not sensitised to the nuances in the world of investment. We wanted to suggest that it is best to leave this job to experts who are equipped. As they say, there is no need to r einvent the wheel all over again.'' `Someone like Prudential ICICI', suggests the parting sequence of the commercial, driving home the point that it is the ideal protector for one's investments.

So, while at one level, the commercial sells the concept of mutual funds, at another, it is also promoting the Prudential ICICI brand as the best option.

Adds Mr. Suraj Mishra, Vice-President, Marketing, Prudential ICICI: ``We have adopted an emotional approach and have given a humane face to our brand to attract retail customers across the country. The idea is also to bring out the fact that we are a con sistent, clean and caring company.''

In fact, the company has appointed ORG-MARG to do its brand-tracking, once the commercial is aired to see if ICICI Prudential touches the right chord among investors. As Mr. Kakar says, ``We want to be sure that customers are getting the right cues about the brand. This should be in terms of service and solidity of its parentage.''

In fact, the 151-year-old Prudential Corporation has always believed in being a serious brand builder. It has already appointed a Brand Director for the Asia-Pacific region to track down the brand values here. The company is also planning a corporate pri nt campaign, to be supported by POP and outdoor communication.

Besides, the joint venture company also plans to reinforce its tagline in future communication. `We Listen, We Understand, We Respond', will soon get revived, since the company thinks this is the right time, considering its performance and capability of servicing investors in the Indian market.

Says Kakar: ``The tagline has been developed for the Indian market. In fact, this is the philosophy the company has always believed in ever since it started its operations in India.''