Consumer durables company Videocon is undertaking an image makeover exercise, as it looks to position itself as a premium brand with focus on eco-friendly and youth oriented products.
The company, which unveiled its new tagline 'Experience Change' on Tuesday at an event promoting the IIFA awards, said the initiative is a part of its strategy to upgrade from the image of mass market brand to a premium one.
The company has already roped in McCann and Zenith Optimedia as its advertising and media agencies for the purpose. It has also tied up with the IIFA awards this year as one of the co-sponsors.
"Our new tagline...talks not only of eco-friendliness but we are also talking of more aspects. We are talking more of youth minded approach," Videocon Chief Marketing Officer Jaideep Rathore told PTI.
He said the idea behind the image change is more to do with the company's need to address the aspirations of consumers.
"To upgrade our customer to buying a premium product is the need of the hour. That is what we are doing... We have not been doing (it) in a big scale in the premium segment," Mr. Rathore said.
He said the company has in the past was focusing more on the mass market products and its attention on the premium segment was minimal.
"We are trying to bridge the gap," he said, adding the company has already started developing new hi-tech products.
Videocon is trying to bring more products in LCD, frost free, automatic washing machines and air conditioners as to address the premium segment.
On choosing the IIFA awards for launching the new brand identity, he said: "The IIFA awards is an ideal platform and we hope getting associated with such an event is one of the steps for building our brand."
He said the company has tied with several agencies to execute its new brand communications exercise.
"We have now got hold of agencies to support in terms of building the kind of the brand that we want. We have now appointed McCann as our ad agency ...plus we are working with a Singapore-based interbrand. They are working on our corporate brand development," he said.