Hospitality firm Atmosphere Core on Thursday made a noteworthy announcement, disclosing their ambitious plans to enter the Indian market. As part of this strategic move, they proudly confirmed the signing of contracts for eight hotels and resorts. The first of these properties is poised to open its doors in Kolkata between April and June of 2024. Subsequently, Atmosphere Core will unveil seven more properties, strategically positioned in popular destinations such as Goa, Bengaluru, Bhopal, Coorg, Kannur, Bhubaneswar, along with an additional one in Kolkata.
The company announced that they will manage certain properties under their own brand, while others will fall under a different brand. However, they did not provide any additional information regarding this arrangement.
“India’s rich cultural tapestry and diverse landscapes offer immense potential for extraordinary hospitality. With our commitment to sustainability and the ‘Joy of Giving,’ we aim to create a hospitality legacy in India,” Atmosphere Hospitality’s Chairman Dipti Ranjan Patnaik stated.
The company, having introduced three brands and established eight resorts in the Maldives over the past decade, revealed its intention to expand its portfolio to a total of 25 properties in India by 2025.
“Our commitment to organic growth, sustainable development, and distinctive brand experiences has transformed the Maldives, and we are thrilled to bring this transformation to India,” said Salil Panigrahi, Managing Director of Atmosphere Core.
PVR Inox, the prominent multiplex chain, has forged a strategic partnership with Devyani International Ltd, the franchise holder for Costa Coffee, to offer high-quality coffee at designated premium locations.
“PVR INOX Ltd has entered into an arrangement with Devyani International Ltd on October 4, 2023, for introducing Costa Coffee’s handcrafted hot and cold coffees at some of the Company properties,” PVR Inox said in a regulatory filing.
In a similar filing, Devyani International Ltd (DIL) said it has entered into an arrangement with PVR INOX, for introducing Costa Coffee’s handcrafted hot and cold coffees at some of the PVR INOX properties.
Costa Coffee, a British coffee chain brand under the ownership of Coca-Cola, is extending its footprint in the Indian market.
Devyani International Ltd (DIL), the master franchiser, is pursuing an “accelerated expansion” strategy and has inaugurated 57 new stores during FY23, increasing the total store count to 112. The primary focus of this expansion is on metropolitan and tier 1 cities, where the coffee culture is flourishing.
In response to this development, Abneesh Roy, Executive Director of Nuvama Institutional Equities, mentioned that PVR INOX will be launching Costa Coffee outlets in their upscale properties.
“Given that hot beverages till now have been a small business for PVR INOX, we see this as an attempt to make it bigger. We see this as another move by PVR to premimise and diversify its F&B offerings to consumers and maintain BUY on PVR. PVR already is one of the large F&B retailers in India,” he said.
Mensa Brands, a unicorn in the realm of house of brands, has secured $40 million in growth capital from EvolutionX Debt Capital. This financing comprises a mix of debt facility and convertible investment.
With this recent injection of funds, Mensa Brands intends to further its investments in brand development.
“In the last 2 years, we have profitably scaled more than 20 brands across beauty and FMCG, fashion, home and consumer electronics. We plan to use this new funding to continue building consumer-loved brands for the next-generation of India,” said Ananth Narayanan, Founder and CEO of Mensa Brands.
Established in 2021 by Narayanan, the former CEO of Myntra, Mensa Brands presently manages a diverse portfolio of brands such as Pebble, MyFitness, Dennis Lingo, and Villain. With $200 million raised solely in equity, the company boasts prominent global investors including Accel Partners, Falcon Edge Capital, Prosus, and Tiger Global Management.
The company has previously secured debt financing from notable firms such as Alteria Capital, InnoVen Capital, Stride Ventures, and TradeCred.
In November 2021, Mensa Brands secured $135 million in funding, resulting in a valuation of the company at more than $1 billion.
Rahul Shah, a partner at EvolutionX Debt Capital, expressed his confidence in Mensa’s ability to enhance the revenues and margins of digital-first consumer brands through the strategic use of technology and brand-building initiatives.
“Mensa has proven its execution capabilities with successful acquisition of multiple brands, and we look forward to supporting the company’s journey as it continues to grow its brands both in domestic and international markets,” said Shah.
Mensa Brands recently made its entry into the UAE market, unveiling three of its brands – Villain, Pebble, and Folkulture – on both Amazon and the Saudi e-commerce platform Noon.
Meanwhile, it’s important to highlight that this recent fundraising effort follows the company’s decision to reduce its workforce by approximately 30 employees at India Lifestyle Network (ILN), a brand it acquired in December of the previous year.
In its first year of operations in FY22, Mensa Brands reported a net loss of INR 96.62 crore while generating a total income of INR 217.89 crore.
Baskin Robbins, the renowned global ice cream manufacturer, anticipates a potential 25% year-on-year growth during the upcoming festive season.
The company pioneering innovative ice cream concepts has experienced increased demand from metropolitan and tier-one cities within the country.
“We have already witnessed promising early festivities and the momentum suggests a robust festive season ahead. It appears to be even better than the previous year, and our growth trajectory remains strong. We should anticipate a growth rate of atleast 20-25 per cent compared to last year,” said Mohit Khattar, CEO, of Graviss Foods Pvt Ltd.
Graviss Foods, the franchise partner of Baskin Robbins in India, is set to expand its footprint by opening 100 new stores in various cities this year. Additionally, they will introduce a novel concept called the ‘plant sundae,’ featuring edible soil made entirely from ice cream, presented in the form of a potted plant.
“The new stores are strategically spread across the country. By the end of the year, we anticipate reaching a total of approximately 950 parlours. Our approach has evolved over the years and we encompass fresh formats, innovative products and unique sundaes. Earlier this year we introduced ice cream pizzas and ice cream rocks. One can enjoy our ice cream pizzas at our parlours in more than 250 cities,” said Khattar.
Baskin Robbins anticipates a 30% year-on-year growth in the first half of the year, with an impressive 100% growth observed in the quick commerce sector.
“While the numbers for the recently concluded H1 are still being compiled, This is particularly impressive considering that last year itself was marked by robust growth. The festive season, coupled with events like the World Cup, is expected to contribute positively to the brand. Additionally, with elections on the horizon, there could be a further boost in the last quarter of the year. The growth in quick commerce has been substantial, consistently exceeding 100 per cent year-on-year for the past two years. We are on track for another 100 per cent or more increase over the previous year. quick commerce is thriving in metro cities, we haven’t observed a similar uptick in smaller cities,” added Khattar.
One essential reality persists in the shifting business landscape: identifying your target audience is critical. However, it is astonishing how often this important phase is neglected or rushed.
Imagine trying to hit a target with a bow and arrow without knowing where the bullseye is. It’s not just challenging; it’s nearly impossible. In the business world, your target audience is your bullseye. Hitting it with your products or services requires precision, and that precision comes from a deep understanding of who your audience truly is.
Defining Your Target Audience
Defining your target audience is a nuanced process that involves more than just demographic data. It’s about understanding the core characteristics, motivations, needs, and behaviors of the people most likely to engage with your brand. Here’s how to go from vague to valuable:
1. Start with Research
Begin by conducting thorough research. Analyze your existing customer base, collect data on their demographics, and survey them to understand their preferences and pain points. Look for patterns and trends that can help you identify commonalities.
2. Segment Your Audience
Not all customers are the same, and that’s where segmentation comes in. Divide your audience into distinct segments based on shared characteristics. For example, you might have segments like “young professionals,” “families,” or “retirees.”
3. Create Customer Personas
Personas are detailed, fictional representations of your ideal customers within each segment. They go beyond demographics and delve into psychographics, such as values, interests, and behaviors. Personas humanize your audience and make it easier to tailor your messaging.
4. Analyze Your Competitors
Study your competitors and their audiences. What types of customers are they targeting, and how are they doing it? This can provide valuable insights into potential gaps or opportunities in the market.
5. Identify Pain Points and Needs
What problems can your products or services solve for your audience? What needs can you fulfill? Understanding these pain points and needs will help you align your offerings with what your target audience truly values.
6. Refine Your Messaging
Crafting the right message is essential. Your messaging should resonate with your target audience’s values, aspirations, and challenges. Speak their language and show how your brand can make a meaningful difference in their lives.
7. Test and Iterate
Defining your target audience is not a one-time task. It’s an ongoing process. Continually test your assumptions, gather feedback, and refine your audience definitions as you gain more insights and data.
The Benefits of Precision
Precision in defining your target audience yields numerous benefits:
Efficient Marketing: Targeted marketing efforts are more cost-effective and yield higher conversion rates.
Stronger Brand Loyalty: When your audience feels understood, they are more likely to become loyal customers.
Innovative Product Development: A deep understanding of your audience’s needs can lead to innovative product or service offerings.
Clearer Decision-Making: Knowing your target audience guides decision-making at all levels of your business.
The Bottom Line
Defining your target audience is a journey that transforms vagueness into a valuable asset. It’s about peeling back the layers to reveal who your customers truly are, what they need, and how you can provide it. By investing time and effort into this process, your business can better connect with the people who matter most and, in turn, achieve greater success in the competitive business landscape.
In a world overflowing with culinary options, standing apart in the food market may be a difficult endeavor. However, for those who have perfected the art of specialized marketing, the rewards are both tasty and profitable.
Catering to a specialized, well-defined target population with distinct tastes, interests, and dietary needs is what niche marketing in the food sector entails. It’s all about providing a one-of-a-kind culinary experience for a restricted group of foodies. Here are some ideas for creating culinary exclusivity:
1. Define Your Niche
The first step in niche marketing is to clearly define your target audience. Who are the food lovers you want to attract? Consider factors such as age, location, dietary preferences (e.g., vegan, gluten-free), and culinary interests (e.g., Italian cuisine, gourmet burgers). The more specific and detailed your niche, the better.
2. Develop a Signature Offering
Once you’ve identified your niche, create a signature offering that caters to their unique tastes. This could be a specialty dish, a unique cooking technique, or an exclusive ingredient that sets your brand apart. Make it a centerpiece of your menu and branding.
3. Tell a Compelling Story
Every successful niche brand has a compelling story to tell. Share your journey, your passion for food, and the inspiration behind your culinary creations. Authentic storytelling helps create an emotional connection with your audience and reinforces your brand’s exclusivity.
4. Embrace Visual Storytelling
In the age of Instagram and food blogs, the visual appeal of your dishes is paramount. Invest in professional food photography and create a consistent visual style for your brand. High-quality, appetizing images can attract and retain customers in the digital era.
5. Cultivate an Online Presence
Leverage the power of digital marketing to reach your niche audience. Create a captivating website, engage on social media platforms popular with your target demographic, and consider email marketing to keep your audience informed about special offerings and events.
6. Collaborate and Network
Building culinary exclusivity often involves collaborating with like-minded businesses or food influencers who share your niche’s interests. Collaborations can introduce your brand to a wider audience and create a buzz around your unique offerings.
7. Host Exclusive Events
Organize exclusive events, such as pop-up dinners, cooking workshops, or food tastings, to engage directly with your niche audience. These events can create a sense of community and excitement around your brand.
8. Listen to Feedback
Pay close attention to feedback from your niche audience. Use their comments, reviews, and suggestions to refine your offerings and enhance the customer experience continually.
9. Be Consistent
Consistency is key to building a strong niche brand. Maintain the quality and uniqueness of your offerings, both in terms of taste and presentation. Consistency reinforces your brand’s exclusivity and reliability.
10. Evolve and Adapt
The food industry is ever-changing, and staying relevant requires adaptability. Keep an eye on industry trends and be willing to evolve your offerings to meet the evolving tastes and preferences of your niche audience.
Niche marketing in the food industry is a recipe for success when executed thoughtfully. By defining your niche, creating signature offerings, telling a compelling story, embracing visual storytelling, and cultivating a strong online presence, you can craft culinary exclusivity that sets your brand apart. With dedication, creativity, and a deep understanding of your target audience, your food venture can not only survive but thrive in the competitive world of culinary delights.
Understanding and optimising the customer experience has become a critical component in attaining success in the ever-changing corporate market. The process of directing a potential client from first contact to conversion is difficult, and it necessitates a thorough grasp of their requirements, behaviours, and preferences.
The customer journey is the sum of all interactions, experiences, and touchpoints a customer has with your brand throughout their lifecycle. From the very first moment they become aware of your product or service to the final step of making a purchase, the journey is a dynamic process filled with opportunities and challenges.
Understanding the customer journey is akin to being a detective, unraveling the mysteries of consumer behavior. It involves dissecting the various stages a customer goes through, such as awareness, consideration, evaluation, and conversion. Each stage presents unique touchpoints and challenges that require careful examination.
The Art of Customer Journey Mapping
Customer journey mapping is the process of creating visual representations of the customer’s experience as they interact with your brand. These maps are like blueprints that reveal the customer’s thought processes, emotions, and actions at each touchpoint. Here’s how to master this art:
1. Empathy is Key
Put yourself in the customer’s shoes. Understand their motivations, pain points, and desires. What are they trying to achieve at each stage of the journey? By empathizing with your customers, you can tailor your approach to better meet their needs.
2. Gather Data
Data is the lifeblood of customer journey mapping. Collect information from various sources, including customer surveys, social media, website analytics, and customer support interactions. The more data you have, the more accurate your map will be.
3. Identify Touchpoints
Pinpoint the key touchpoints where customers interact with your brand. These can include your website, social media profiles, emails, customer service calls, and even physical stores. Each touchpoint should be evaluated for its effectiveness in facilitating the customer’s journey.
4. Create Personas
Segment your customer base into personas based on common traits, behaviors, and goals. Personas help you understand the diverse needs of your audience and tailor your approach accordingly.
5. Map the Journey
Using the gathered data, create a visual representation of the customer journey. This could be a flowchart, infographic, or a detailed narrative. Highlight pain points, opportunities for improvement, and moments of delight.
6. Continual Improvement
Customer journey mapping is not a one-time endeavor. It’s an ongoing process that should adapt to changes in customer behavior, technology, and market trends. Regularly revisit and refine your maps to ensure they remain accurate and effective.
The Benefits of Customer Journey Mapping
Effective customer journey mapping offers a myriad of benefits:
Improved Customer Experience: By tailoring your approach to customer needs, you enhance their overall experience with your brand.
Enhanced Customer Loyalty: Satisfied customers are more likely to become loyal advocates for your brand.
Higher Conversion Rates: Understanding the customer journey helps identify bottlenecks and obstacles that may be preventing conversions, allowing you to make necessary improvements.
Data-Driven Decision-Making: Customer journey maps provide data-backed insights that guide your marketing, sales, and customer service strategies.
Competitive Advantage: Brands that excel at understanding and optimizing the customer journey gain a significant edge in a crowded marketplace.
Customer journey mapping is a powerful tool that helps businesses bridge the gap between initial touchpoints and successful conversions. It’s an art that requires a deep understanding of customer needs, continuous data analysis, and a commitment to improving the customer experience. By mastering the art of customer journey mapping, businesses can build stronger customer relationships and thrive in an increasingly customer-centric business environment.
Social media has developed into a potent force that can make or kill a business in the blink of an eye in today’s hyper connected society. Consumers now have an unparalleled platform to express their ideas, and when a crisis occurs, social media may swiftly escalate the problem.
The New Landscape of Crisis Management
With the advent of social media, crisis management has evolved from a behind-the-scenes task to a very public affair. News spreads rapidly, and consumer sentiment can change at lightning speed. Therefore, it’s crucial for businesses to adapt and equip themselves with the right strategies to navigate these treacherous waters.
Establish a Robust Crisis Management Plan
Preparation is the first line of defense against any crisis. Your business should have a well-defined crisis management plan in place before any issues arise. This plan should outline key roles and responsibilities, potential crisis scenarios, and a clear chain of command for decision-making. Being well-prepared empowers your team to act swiftly and decisively when a crisis unfolds.
Keep a Watchful Eye on Social Media
In the digital age, news often breaks first on social media platforms. Therefore, continuous monitoring of social media channels is essential. By detecting potential issues early, your business can respond proactively and minimize the impact of a crisis.
Respond Quickly and Transparently
When a crisis does occur, time is of the essence. Respond swiftly and openly, addressing the issue directly. Acknowledge any mistakes or shortcomings, and communicate your plan for resolution. Demonstrating empathy and understanding in your responses can go a long way in building trust with your audience.
Empower Your Crisis Management Team
Your crisis management team plays a pivotal role in handling issues as they arise. Ensure they are well-trained and empowered to make real-time decisions. Provide clear guidelines for responding to inquiries and comments on social media, emphasizing the importance of both speed and consistency.
Leverage Social Media as a Tool
While social media can escalate a crisis, it can also be a valuable tool for managing one. Use your social media platforms to provide regular updates, share information about the actions you’re taking to address the issue, and express empathy towards affected individuals. Social media can serve as a platform for turning a negative situation into an opportunity to showcase your brand’s commitment to transparency and resolution.
Learn and Adapt
Once a crisis is resolved, conduct a thorough post-mortem analysis. Evaluate what went well and what could have been handled differently. Use these insights to update and improve your crisis management plan continuously. Learning from each crisis will make your business more resilient in the long run.
Stay Prepared
In today’s digital age, businesses must operate with the assumption that a crisis could occur at any moment. Regularly review and update your crisis management plan, invest in ongoing team training, and remain vigilant in monitoring social media. Being prepared is the best defense against a potential crisis.
The digital age has transformed the landscape of crisis management, making it a critical skill for businesses of all sizes. By establishing a robust crisis management plan, monitoring social media vigilantly, responding promptly and transparently, and continuously learning from each crisis, businesses can not only survive but also thrive in the face of adversity. In the age of social media, effective crisis management can even enhance a brand’s reputation, reinforcing the idea that mastering this skill is essential for businesses in the modern world.
Building a successful brand in today’s digital age is much more than simply spreading your message; it’s about cultivating true connections with your audience. User-generated content (UGC) is a strong tool that not only increases the legitimacy of your business but also develops an engaged and devoted consumer base.
The Power of User-Generated Content
User-generated content is any content—text, images, videos, reviews, and more—created by your customers and shared on social media or other online platforms. It’s authentic, trustworthy, and provides social proof, helping to establish your brand’s reputation. More than 90% of consumers trust UGC over traditional advertising, making it a goldmine for brand promotion.
Inspiring UGC
Create Shareable Moments: Encourage customers to share their experiences by creating memorable moments. This could be an extraordinary meal, a unique product feature, or an exceptional service. When customers experience something special, they’re more likely to share it with their friends and followers.
Run Contests and Challenges: Contests and challenges are a fantastic way to inspire UGC. Ask customers to submit photos, videos, or stories related to your brand with the incentive of prizes or recognition. Contests spark creativity and generate a buzz around your brand.
Showcase Customer Testimonials: Highlighting positive feedback from satisfied customers not only promotes your brand but also encourages others to share their experiences. Consider using testimonials on your website or social media platforms.
Leverage Hashtags: Create and promote unique hashtags for your brand or specific campaigns. This allows you to easily track and collect UGC. Encourage customers to use these hashtags when posting about your products or services.
Partner with Influencers: Collaborate with social media influencers in your niche who align with your brand’s values. Influencers can create and share content that reaches a broader audience and inspires others to do the same.
Curating UGC
While inspiring UGC is a significant step, curating it effectively is equally important:
Quality Over Quantity: Focus on the quality of UGC rather than the quantity. Choose content that aligns with your brand’s image and values. High-quality UGC resonates better with your audience.
Engage and Acknowledge Creators: Interact with users who create UGC for your brand. Respond to their comments, thank them for their content, and share their posts on your brand’s social media platforms. This not only acknowledges their efforts but also encourages more UGC.
Obtain Permissions: Ensure you have the necessary permissions to use UGC in your marketing efforts. Ask for explicit consent from creators to repost or feature their content.
Create UGC Galleries: Showcase curated UGC on your website or in your physical location, if applicable. This provides a sense of community and authenticity to your brand.
Tell Stories: Use curated UGC to tell stories about your brand. Highlight how your products or services have positively impacted real customers’ lives. This narrative approach adds depth to your marketing.
Measuring Success
To gauge the effectiveness of your UGC strategy, track metrics like engagement rates, reach, and the number of user-generated posts using your branded hashtag. Analyze the sentiment of UGC and how it impacts your brand’s reputation and sales.
In conclusion, inspiring and curating user-generated content can be a game-changer for your brand’s success. It builds trust, fosters engagement, and humanizes your brand in the eyes of your audience. By going beyond likes and actively involving your customers in your brand’s narrative, you’ll not only savor success but also create a brand that resonates deeply with its community.
In a world where everything seems to come at a cost, FreeWater, a Texas-based beverage company, is challenging the status quo by offering something fundamental for free – drinking water. What’s even more remarkable is how they manage to do this while also giving back to communities in need and providing an innovative advertising platform. This is the story of FreeWater, a company that’s not just quenching thirst but also making waves in the world of philanthropy and marketing.
A Novel Approach to Hydration and Advertising
At its core, FreeWater is in the business of distributing natural spring water, but with a twist that sets it apart. Instead of charging consumers for their products, they rely on advertisers to cover the costs in exchange for advertising space on their packaging. This innovative approach transforms each water bottle into a mini-billboard, allowing brands to reach their target audience in a unique and personal way.
Josh Cliffords, the Founder of FreeWater, explains, “Basically, we transform product packaging into ad space. Those ads cover the cost of the product’s manufacturing, distribution, the salesperson’s commission, donation to charity, and our profit. The product is then free for the consumer.”
Josh Cliffords, Founder, FreeWater
FreeWater doesn’t stop at simply providing free water; they’ve combined their innovative business model with a commitment to social impact. For every bottle or carton of FreeWater sold, the company donates 10 cents to WellAware, a non-profit organization building water wells in East Africa. This not only makes clean drinking water accessible to those who need it most but also empowers consumers to contribute to a global cause through their daily choices.
According to FreeWater, the donations from just 150 bottles can provide clean drinking water for one person for the rest of their life. Their mission is clear: “We only need 10% of Americans to choose FreeWater so we can solve the global water crisis permanently.”
Expanding the Giving Economy:
FreeWater’s ambitions don’t stop at water. They’re on a mission to create what they call the “giving economy,” where products that people need are made available for free, with the costs covered by advertisers. FreeWater plans to introduce a range of free products and services, including food, beverages, clothing, medicine, computers, transportation, and travel. Each new product will support a different charitable cause.
“Our startup is opening the world’s first free supermarket, and our first product is FreeWater,” says Cliffords. This innovative approach aims to make philanthropy as simple as saving money on everyday essentials.
FreeWater has quickly gained international recognition and support, driven in part by its viral presence on platforms like TikTok and Instagram. They reached an astounding 100,000,000 organic impressions within a year, demonstrating the power of their message and mission.
The company’s next step is to engage its passionate global following through a crowdfunding campaign on FundRazr. This campaign will help finance free vending machines and support their expansion, ultimately making more free products and charitable contributions possible.
The Power of a Blank Canvas:
FreeWater’s product, with its advertising space, is a blank canvas with versatile applications across various industries. This adaptability, coupled with their significant presence on TikTok and their ability to leverage social media, has helped them find a broad and engaged audience.
Advertisers play a pivotal role in FreeWater’s marketing strategy. They pay the company to give away FreeWater, and these giveaways are promoted on TikTok, reaching audiences interested in FreeWater, investment opportunities, or advertising.
In a world where business success often seems at odds with social impact, FreeWater is proving that a giving economy is not only possible but also profitable. By challenging the traditional business model, they’re providing a blueprint for how companies can make a positive difference in the world while thriving in the marketplace. As FreeWater expands its offerings and charitable contributions, it’s clear that this innovative company is making a significant splash in more ways than one.
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