Success formula – Blending Traditional wisdom in Product and Branding.

In today’s rapidly evolving world, where technology and innovation dominate the market, it might seem counterintuitive to consider the relevance of traditional wisdom in building a brand. However, blending the time-tested principles of the past with modern product development can create a unique and resonant brand identity. You can see in all geographical market, there will be some small players playing this card very well and garnering a good share of some product lines using this. This works well and is suited for product startups that operate in smaller geographical areas or a single country.

To begin with delve into the concept of traditional wisdom and its significance in the context of branding. Am mentioning 4 different angles of thought that can help in creating this, if you think there is more please comment for others to benefit.

Emphasizing Authenticity

One of the core tenets of traditional wisdom is authenticity, examine how authenticity can be infused into product development and brand messaging. By incorporating genuine and transparent values into the brand’s ethos, companies can establish a trustworthy and meaningful relationship with their audience.
Traditional wisdom often emphasizes sustainable practices , by integrating sustainable principles into product design and production will resonate with eco-conscious consumers, thereby fostering brand loyalty.

Tapping into Cultural Relevance

Cultural relevance plays a crucial role in brand building. By integrating elements of local culture and traditions into products, marketing strategies, and communication, brands can forge deep connections with their target markets.
Fostering a Sense of Community.

Traditional wisdom often centers around the idea of community and collective well-being. Through community engagement, social initiatives, and shared values, brands can turn consumers into brand advocates and foster long-term loyalty.

Balancing Modern Innovation
While traditional wisdom provides valuable insights, it is essential to balance it with modern innovation. Brands can merge the best of both worlds, combining timeless values with cutting-edge technology and design. By striking this balance, companies can create products that feel familiar yet forward-thinking.

Hope this helps.

Why Do I Need To Use Financial ?

The move by OLA electric assumes significance, especially with their entry to two wheeler segment and strategy to “own” the system like tesla.

Positives.
1. Two-wheelers account for more than 75% of the 250 million vehicles registered in India, representing the second largest market globally for two-wheelers, second only to China (Forbes, 2019).

2. It is of high priority for both national and state governments in India, to support the transition to electric vehicles. Through the national FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) schemes, and state-level equivalents, we are trying to address it.

3. Product Design and innovations – The features, app interface and navigation, battery Pack, more boot.

4. Super cool ads and communication – Yes color is good. The Early booking suspense at a throw away amount.

5. Understanding that “ecosystem” of Charging stations is key.

How it can go wrong(clues)?

1. The hyper charging network won’t be available to other electric vehicle players and only the customers of Ola Electric.

2. From my market entry strategist perspective, they made the pitch at right time before the move from established players. The ride aggregator has gone forward and became “automobile manufacturer”. OLA expects that brand recognition and connection will create the trust.

3. The global mega factory with 2 million output, 1 lakh Hypercharging stations in 400 cities looks good for tall claims. (it just reminds me of NANO). The first target is just 5000 centre’s.

4. Product appeals to last mile connectivity needed city dwelling techno savvy Youth(or female?).

5. Battery pack design is cool – Economics of charging? competition is 1.2- 2.2 Rs/litre. It has three swappable battery packs measuring 1.155kWh each.

6. Speed and maneuverability?

7. Serviceexcellence and network?

and finally after all the hype, it booked just 1 lakh+ @499. Is it enough for a 2 million factory? Read More