What Makes Indian Premier League (IPL) so Hot?

In this sales2marketing article we will try to see the Indian Premier League (often abbreviated as IPL) in marketing point of view. Why it so successful in so short of time? IPL is a Twenty20 cricket competition initiated by the Board of Control for Cricket in India (BCCI) and supervised by BCCI Vice President Lalit Modi, Chairman  and Commissioner for IPL. It presently includes 10 teams called "franchises" consisting of players from different countries. It was started after altercation between the BCCI and the newly-created Indian Cricket League.The IPL works on franchise system based on the American style of hiring players and transfers.

Whats makes it so popular in India and abroad?

Here are some reasons for IPL success in India.

1) Its format: 20-20 overs which requires only 3 to 4 hours time to finish match. 

2) Indian viewers interest in Cricket- great fan following (eat, drink, sleep & digested cricket attitude).

3) Glamourous look to IPL (Cheergirls, strategic breaks, filmi Celebrity association, presence on ground).

4) Marketing Buzz (Association of Brand, their unique way to promote their brands).

5) Vision (Man behind the show Mr. Lalit Modi, he knows where, what & How).

6) It attach International players almost all test cricket playing countries which gives result in their fan following and vice-versa.

7) Fair and quality Play - Spirit of game(Till date)

8) Given different regional representation to teams which covers entire India.

9) Ownership of Franchisee given to Professional business tycoons like Ambanis, Vijay Mallya, Nes Wadia and latest Mr Subrato Roy and many more. 

10)Match timings in Afternoon & evening time as concern with India(Prime-time)

Commercial Aspect of IPL.
1) It was the first sporting event ever to be broadcast live on the popular video sharing website Youtube.
2) Sony/World Sport Group -Broadcast Rights 10 years at Rs 8700 crores.
2) Brand value was estimated to be around $4.13 billion (over Rs 18,000 crore) in 2010.
3) According to global sports salaries review IPL is the second highest-paid league, based on first-team salaries on a pro-rata basis, only second to NBA league. It is calculated that average salary of IPL over a year is £2.5 million.
4) DLF Group paid US$50 million to be the title sponsor of the tournament for 5 years from 2008 to 2013
5) In 2010, the IPL expects to have 80 official merchandising deals.
6) five-year sponsorship agreements include a deal with motorcycle maker Hero Honda worth $22.5-million, one with PepsiCo worth $12.5-million, and a deal with beer and airline conglomerate Kingfisher at $26.5-million.
7) There are disputed figures for the profitability of the teams, but in season one profit remains more over flat, in season 2, four teams out of the eight made a profit and IPL season 3 is going on...lets see.
8) Many other deals which are not disclosed.

So from this figures we can imagine what type of commercial interest involved in IPL. Which combine with viewers interest gives IPL grand success, more eyeballs.
As per Mr Lalit Modi, he wants to make IPL most successful sporting event than any other sport format in the World(NBA, Wimbledon, Grandprix etc.). Also if IPL want more professional approach, nothing can stop them from come with IPO for listing in stock exchange similar like Manchester United was listed in the London Stock Exchange (1992) at GBP 47 million.

Hope you will like this sales2marketing article....Enjoy IPL....Enjoy Cricket.... keep watching!!!                                   (Source:Wikipedia)

Are you just producing Product or "Brand"?

"People will forget what you said, people will forget what you did, but people will never forget how you made them feel"                                                               -- Maya Angelou

Brand

Cococola, Adidas, Pepsi, Puma, Sony, Apple, Cadburry, India...what you think they are mere words or more? Yes they are not just words, they are "Brands". So what you think Brand is? As per American Marketing Association "Brand is a  "name, term, sign, symbol, or design, or a combination, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” But is it so only differentiating element make some word to Brand? Brand is much more than that. In simple words Brand is something which acquires unique space in consumers mind and which makes selling price of 1$ product to 10$ or more.

Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand than what identical, unbranded products command. The most obvious example of this is Coke vs. a generic soda. Because Coca-Cola has built a powerful brand equity, it can charge more for its product--and customers will pay that higher price.

What is Branding?

In simpllified lanuguage Branding means process of converting "word"(Coco cola) into Brand (). Branding is entire process involved in creating a unique name and image for a product (good or service) in the consumers' mind, through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.

Why Branding is necessary?

1) To familiarize target customers with the symbol or logo, the brand's concept and making them knowledgeable enough to expect a certain set of benefits.

2) A rational claim of superiority isn’t possible. So the brand positioning is the primary differentiator.

3) By positioning, marketers try to occupy a portion of the mindspace of customer and create the brand image and brand personality in the long run

4) Brand Communication(BC) aids in achieving “intangible” positioning. The BC and the style of BC both contribute to articulating and embodying these differences

5) Consumers are becoming increasingly fickle and savvy. For organizations this implies placing more emphasis on consumer needs and expectations as well as heavily investing in advertising.

6) Volatile markets and increasing product parity.

Some Branding Examples.

1) "Amul - Taste of India" having Single theme for 42 years, More than 3 generations, Highest brand recall ever, Recognized and appreciated for consistency , wits and innovation, Always focus on “Common man”, Consistent through its advertisement on all contemporary issues like sports, society, politics, entertainment.

2)Cadbury in India - Some initivatives/Campaigns for Branding are "Snacking ka meetha funda", Real Taste of Life' campaign, shifting the focus from `just for kids' to the `kid in all of us','Khanewalon Ko Khane Ka Bahana Chahiye' campaign', Celebratory occasions- “Pappu Pass Ho Gaya” from all Cadbury India establish itself as a Brand.

3) Is there any another company in the world that works harder to build genuine relationships with their customers than the Harley-Davidson Motor Company? Harley-Davidson is an outstanding example of a company that has created loyalty through a pattern of steadfast interactions with its customers. How easy is it for your customers to interact with you? Could you reinvent the customer experience in ways that would strengthen the sense of affiliation that the customer has with the products and services of your company? The sponsorship of a "Harley Owners' Group" has been one of the most creative and innovative strategies that has helped create the experience of this product.(Source: Case study: Harley Davidson by Josef Schinwald)

4) There are many Good Branding examples like Apple, Dell, Incredible India, Cococola, Sony, Tata, Airtel, Vodafone.........

So What you want your company be simply word or Brand?.