Rural and under-served community hold the key to success in India, but to get hold of it, one has to be as customised as Max Vijay and Operation Attack
Since liberalisation, customisation of products and services has caught the fancy of the marketers like never before. This has not only helped the companies to add some good meat to their toplines and bottomlines, but has also proved quite handy to them when it comes to tap the under-served markets.
In fact, two such novel concepts that recently joined the bandwagon are Max Vijay (by Max New York Life Insurance) and Operation Attack (by Castrol India Ltd). While Max Vijay empowers the lower strata of the society by giving them a 5 in 1 advantage (flexibility, convenience, simplicity, life cover and savings), Operation Attack, from Castrol’s arsenal aims at providing farmers with the first hand technical knowledge on how by using CRB Plus engine oil they can protect their tractor’s engine even at 300 degree centigrade temperature. Though, these two concepts operate in different domains, but at the end of the day they certainly serve a single purpose – benefit the rural mass.
Both initiatives aim at bringing about a revolution in the industry by benefiting a large chunk of the population, so far untapped and under-served. Sharing his view on the success of Operation Attack, Rajeev Govil, Marketing Manager – Agri & Old Gen avers, “The high visibility activation campaign conceptualised and implemented by the agency in the key rural markets across the country innovatively communicated the brand proposition – ‘protects engine even at 300 degrees C’ – to create the desired impact. The overall campaign more than met the program objectives and resulted in creation of buzz and mass conversions.”
If Operation Attack is for better longevity of the engine, then Max Vijay with its unique concept of ‘Bima Gullak’ wishes for the long life of a poor villager. The company claims that this new product is entirely different from any other existing financial products, from start to finish. For the uninitiated, the policy can be started with a premium amount as low as Rs.1,000 and subsequently top up payments can be made at Rs.10–2,500 per day. Commenting on the impact of Bima Gullak, Anil Mehta, Senior Director, Max Vijay says, “Currently we have sold 80,000 Max Vijay policies, thus touching the lives of over 3.5 million Indians.” In fact, through Bima Gullak the company is now planning to touch the lives of over three million households over the next three years.
But then, just launch of a product/service or presence of a vast target group is not what solves the problem. Taking it to the masses is also equally important. And in both these cases the respective companies have left no stones unturned in achieving the same. While Operation Attack reached out to 17 states using Bus Talkies and live technical demonstration, Max Vijay on its part has now made itself available in 23 states. Moreover, considering that insurance is a complex product, the insurer has roped in corporate agents, NGOs, Financial Institutions, et al, to reach out to the underserved segment.
But, be it Max Vijay or Operation Attack, the underlying fact remains the same – customisation is the key if you want to unlock the wealth that lies at the bottom of pyramid.
Gyanendra K. Kashyap
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
TSI exposes b school ranking scamsters Mahesh Peri of Career 360 and Premchand Palety of C fore. - For Complete Sting Operation Video Click Here
Pioneer Exposes the fraud called Mahesh Sharma and Mahesh Peri of Career 360 and Barbel Schwertfeger of mba-channel.com
IIPM: An intriguing story of growth and envy
Prof Arindam Chaudhuri of IIPM on MF HUSAIN
IIPM Related Links
IIPM ISBE Programmes
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
Exclusive In chat with Society Magazine - Prof. Arindam Chaudhuri
Since liberalisation, customisation of products and services has caught the fancy of the marketers like never before. This has not only helped the companies to add some good meat to their toplines and bottomlines, but has also proved quite handy to them when it comes to tap the under-served markets.
In fact, two such novel concepts that recently joined the bandwagon are Max Vijay (by Max New York Life Insurance) and Operation Attack (by Castrol India Ltd). While Max Vijay empowers the lower strata of the society by giving them a 5 in 1 advantage (flexibility, convenience, simplicity, life cover and savings), Operation Attack, from Castrol’s arsenal aims at providing farmers with the first hand technical knowledge on how by using CRB Plus engine oil they can protect their tractor’s engine even at 300 degree centigrade temperature. Though, these two concepts operate in different domains, but at the end of the day they certainly serve a single purpose – benefit the rural mass.
Both initiatives aim at bringing about a revolution in the industry by benefiting a large chunk of the population, so far untapped and under-served. Sharing his view on the success of Operation Attack, Rajeev Govil, Marketing Manager – Agri & Old Gen avers, “The high visibility activation campaign conceptualised and implemented by the agency in the key rural markets across the country innovatively communicated the brand proposition – ‘protects engine even at 300 degrees C’ – to create the desired impact. The overall campaign more than met the program objectives and resulted in creation of buzz and mass conversions.”
If Operation Attack is for better longevity of the engine, then Max Vijay with its unique concept of ‘Bima Gullak’ wishes for the long life of a poor villager. The company claims that this new product is entirely different from any other existing financial products, from start to finish. For the uninitiated, the policy can be started with a premium amount as low as Rs.1,000 and subsequently top up payments can be made at Rs.10–2,500 per day. Commenting on the impact of Bima Gullak, Anil Mehta, Senior Director, Max Vijay says, “Currently we have sold 80,000 Max Vijay policies, thus touching the lives of over 3.5 million Indians.” In fact, through Bima Gullak the company is now planning to touch the lives of over three million households over the next three years.
But then, just launch of a product/service or presence of a vast target group is not what solves the problem. Taking it to the masses is also equally important. And in both these cases the respective companies have left no stones unturned in achieving the same. While Operation Attack reached out to 17 states using Bus Talkies and live technical demonstration, Max Vijay on its part has now made itself available in 23 states. Moreover, considering that insurance is a complex product, the insurer has roped in corporate agents, NGOs, Financial Institutions, et al, to reach out to the underserved segment.
But, be it Max Vijay or Operation Attack, the underlying fact remains the same – customisation is the key if you want to unlock the wealth that lies at the bottom of pyramid.
Gyanendra K. Kashyap
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
TSI exposes b school ranking scamsters Mahesh Peri of Career 360 and Premchand Palety of C fore. - For Complete Sting Operation Video Click Here
Pioneer Exposes the fraud called Mahesh Sharma and Mahesh Peri of Career 360 and Barbel Schwertfeger of mba-channel.com
IIPM: An intriguing story of growth and envy
Prof Arindam Chaudhuri of IIPM on MF HUSAIN
IIPM Related Links
IIPM ISBE Programmes
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
Exclusive In chat with Society Magazine - Prof. Arindam Chaudhuri
