To attain such high levels of involvement

To attain such high levels of involvement in your brands is getting increasingly difficult and more complex with the sheer explosion of media channels and competitors. Your brand needs to constantly reinforce your core positioning in the eyes of the customer. An interesting example is HDFC, which has emerged a leader in the home-loan segment in India. As the home-loan business was blooming in the late 1990s, the challenge was to acquire and retain customers who often questioned the authenticity of services promised by the banks. HDFC decided upon a unique way to commence its activities way back in 1977 by offering ‘home’ grown solutions for its customers. Keki Mistry, MD, HDFC, while speaking exclusively to 4Ps B&M on HDFC’s customer-centric focus, stated, “They (the customers) want comfort from us that we have checked the property, since we know the credentials of most of the developers and whether the title is clear. We often tell people when to buy and when not to buy.” In this way, HDFC partnered with the customers and helped allay their key concerns, thereby securing their trust.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)