Hinduism Hinduism impacts marketing of various products. For
June 1, 2019
Hinduism Impact on Marketing
Religion has a huge impact on branding and marketing the products though this statement may not be true with all the religion but certainly true with few. In this research, I would like to take Hinduism, which is considered one of the oldest religions and how Hinduism impacts marketing of various products.
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For instance, tourism in India has a huge impact by Hinduism because over 50% of holiday travels in India is considered to be religious tourism for which many state government and private players promote tourism of holy places during festival seasons like Dussehra, Khumba Mela etc. Even if we consider books that is written on Hinduism for example, Shiva trilogy is also one of the best sellers because you would find millions of readers who are interested on Hinduism and its believes for there is a drastic increase in the number of writers as well as publishers. These kinds of books are not positioned in the market seasonally but all over the year because it’s a mind sets of people to read such books at all time rather than on any festivals.
Apart from film songs, the biggest segment for music is religious theme songs which are produced and marketed during festive seasons like Diwali, Dussehra and Maha Shivratri which proves the point that religion has huge impact on branding and marketing of products. During festivals like Diwali in particular has a great impact over marketing strategy of many brands to promote their products. From consumer durables to non-durables offer greater discounts to promote their products. Auto segments offer lower down payments especially in Diwali and also millions of people consider that it is lucky to buy a car during that auspicious season and companies like Ford, Toyota, Honda and Suzuki position their brands with discounts on those occasions.
India being the largest importer of Gold, an average Hindu marriage has more expenses on gold compared to any other expenses and Hindu brides shop of jewelry from various brands that are existing in India market now. Not just during Festivals but also during many festivals it has been a practice from centuries that gold and consumes are given as a gift during Diwali season is which taken as an appropriate opportunity by jewelry manufacturers to promote their products during these occasions and millions of dollars’ worth jewelry is sold just during this occasion.
Especially during Hindu marriages, Hindus woman have immense love towards jewelry. India observes Diwali as “celebration of lights” – one of the greatest Indian celebrations including the lighting of little mud loaded with oil to mean the triumph of good finished malice. Amid Diwali, every one of the celebrants wear new garments and offer desserts and snacks with relatives and companions, trade blessings and light fireworks.
Diwali is likewise a favorable time for valuable metals buy in India. Individuals purchase gems, gold coins and other blessing things in respect to Goddess Lakshmi, the Hindu goddess of riches and flourishing. In view of World Gold Council’s (WGC) gold supply request from India alone constituted around half of the aggregate gold request in 2010 (2016 tons out of 4000 tons)
When it comes to gadgets like smartphones, tablets or laptops, many companies assert their business on Diwali season where more than they usually expect, compensating for bring down deals in the months paving the way to the celebration.
Samsung India Electronics additionally moved toward this Diwali in an unexpected way. Rather than concentrating on advancements or endowments, the organization propelled new items. The organization recorded a 41% development in deals, to Rs1,200 crore, in the Diwali season.
The Diwali season is one of the greatest drivers of online buys, which are expanding in scale, assortment and advancements. The period prompts sudden surges in spending, making an inspire in the internet business showcase. “Net web based business deals are probably going to touch Rs 9,000 crore, a 40% hop over a year ago”, as indicated by Times of India. It’s nothing unexpected at that point, that internet business goliaths have conveyed different procedures to amplify deals with significant retailers altering their techniques as per shopper request.
Online retailers like OLX have come up with creative strategies where millions of consumers sell old stuff during these kinds of festivals to buy new ones. OLX took up this as an advertising campaign where it came up with the words like Polish your home, earn at home. This campaign was intended to help consumers earn money by selling off their old or used products. In order to execute this campaign very well, OLX partnered with many housekeeping vendors to help customers clean and organize their homes hassle free. As well, social media activities via Facebook and Twitter were also part of their strategy by OLX which gives us a perfect example of how Hindu festivals have impact of marketing strategies of various companies in India.
In various parts of India, during the mid-January Hindus celebrate a festival called Sankranti or some sates call it Pongal which Marks the transition of the Sun into Makara (Capricorn) on its celestial path and also to called the harvest seasons where millions of farmers celebrate and buy new tractors and golds. This is where many tractor producers position their brands in market targeting farmers where hundreds of thousands of tractors are sold every year.
The showcasing spending plans this year has gone up for the organization too. In any case Amazon commended the celebration deal from October thirteenth seventeenth under the name #AmazonFestiveSale. The brand propelled an arrangement of limited time recordings that picks the string from its last battle #TryTohKar which means ‘Just give a try’
Notwithstanding making buzz for the Diwali deal, the brand tried to share energizing arrangements coming amid the deal by means of extremely cool recordings. Instagram was likewise coordinated now of time when the brand asked fans to exhibit their DIY thoughts, share on the application and get fortunate with Amazon vouchers.
With Diwali getting nearer, Amazon ran another intriguing effort for its fans who were not ready to go home for the celebration. “Furnished with a blessing box, we thumped on numerous entryways and were benevolently invited. Here’s a glance at how, in our own little way, we spread the Diwali cheers!” composed the brand on its Facebook post which had pictures of glad fans with huge blessing boxes.
Many advertising companies have invested in market research and intelligence to do intense marketing keeping the Hindu festivals in mind and the sales of previous years. Since there is a drastic increase in purchasing power and the income levels of middle class (which holds the largest share in consumer market), religious believes, emotions and sentiments have impacted various segments like tourism, books, music, jewelry, auto industry and even banks lower their interest rates on housing loans and cars during these festivals.