Innovation: the key to building a successful brand in any industry

Innovation: the key to building a successful brand in any industry

For brands, it is not possible to become popular overnight. It is very important for the brand to stay true to customers so that the brand attains a strong recall value and determination. It takes months, years, and even decades of consistency. Some brands shared their experience, journey, and thoughts during an engaging discussion.

In the discussion panel Aakash Anand, partner, Ananta capital and founder & CEO of IDAM house, Pankaj Gupta, director and RP of Foam Homes Pvt Ltd, Varun Ganjoo, Co-founder and CMO of Baazi games, Arushi Jain, Director of Akum Drugs, Akshay Bector, Chairman and MD of Cremica foods are comprised. 

Arushi Jain, introducing her company and operations says we manufacture and comprised manufacture 12 percent of India’s domestic pharma consumption to other brands. She also said the sector they are in is highly regulated and their customers are pharma, cosmetic companies, and Nutra. It takes more than 2 years for the company to bring about the new product. So, it all boils down to how the company builds trust and credibility. In the last few years, everything comes down to the level of trust that companies have created among their consumers through quality and consistency in their services. It is all about building trust whether you are in B2B or B2c brand and whether you have one consumer or hundreds. 

Speaking on how practice and innovation look like for a brand like Cremica Foods, Akshay Bector says the key to a successful brand is innovation. If we look at any company or brand of any significance, it needs to be the first mover whether it is in disruptive technology or in design or whether it is new offerings that are proposed to a consumer. Bector says it is a long journey. He also talks about the little back in time when he was getting into the biscuit industry. He would see the challenges of pricing. With the first organizations of this industry which are Parle and Bakeman the real premium ended up. Bector says you have to strike out as a brand. 

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