The Hindu Business Line : `Marketing, advertising key to business growth'

Mr V. Balaraman, Director - Polaris, and former director - Hindustan Lever Ltd, speaking at a seminar on `Branding and Advertising' organised by the Xavier Institute of Management and Entrepreneurship (XIME), Bangalore, in Chennai on Saturday. Prof J. Philip, Vice-Chairman and Director, XIME, is also seen. — Bijoy Ghosh

Chennai , March 13

BUSINESS growth drives economic growth. And, it cannot happen without branding, marketing and advertising. Economic growth of the US was due to increased spending on branding and marketing by various companies. Similarly, India's economic growth today has been due to increased spending on branding and advertising by companies, Mr V. Balaraman, Director, Polaris Software Labs Ltd, has said.

What marketing and advertising should do is to create value, he said while speaking at a one-day seminar on `Branding and Advertising' organised by the Bangalore-based Xavier Institute of Management and Entrepreneurship here on Saturday.

According to Mr Balaraman, the first generation entrepreneurs, including Tatas and Birlas, did not believe in branding and advertising. But, they believed only in manufacturing and delivery. The present generation, however, believes that branding and advertising is crucial for business growth, he said.

In his remarks, Mr N. Murali, Joint Managing Director, The Hindu, said brand is an expectation and promise that a company provides to customers. Marketing and advertising are an integral element of branding, and crucial for a company's growth. A strong and large brand charges a premium for its product and service, and is not affected during downturn. Coca-Cola is an example of a strong brand so much so that for most Americans not a day goes by without the red colour logo.

Branding is relevant to services as much as for manufacturing. Software companies such as Tata Consultancy Services, Infosys and Wipro have embraced the brand successfully, he said.