The students of IIFT were delighted to host Mr. Anurag Mehrotra, President & Managing Director of Ford India. During this thoroughly engaging session, Mr. Mehrotra spoke on the topic of “Brand Equity” and Ford’s inventive approach to marketing.
Mr. Mehrotra spoke of the advent of financial brand management and the ways to measure the tangible effects of marketing. Citing examples of established brands and conglomerates, he emphasized the importance of developing brand loyalty and forming meaningful relationships with consumers. He delved deeper into Ford’s marketing strategy; mainly their focus on defining customer segments and identifying and serving unmet needs, both with products and beyond. He shed light on the trust deficit in consumers- their unmet needs and their tendency to trust only family and friends. Mr. Mehrotra continued with how Ford is building trust by encompassing both its employees and its customers into the Ford family – be it through workplace dynamics or exceptional customer service values. He also spoke of tangible moments of truth and the power of storytelling in marketing.
Through examples from Ford, Mr. Mehrotra demonstrated the innovations in the automobile industry, particularly relating to safety. He spoke of various technologies that take customer feedback and implement the findings into intuitive safety measures like automatic emergency assistance during accidents.
Finally, Mr. Mehrotra left the students with five pearls of wisdom to navigate their careers – invest in the long-term, build meaningful differences, develop a brand ecosystem, focus on storytelling and create compelling brand experiences. We thank Mr. Mehrotra for the candid and illuminating session.
“Consumers these days are much more interested in collecting memories and experiences than consumables.”