Brands must learn to be “more responsive” and “far quicker” to react to consumer sentiment, according to PepsiCo India chief executive and chairman Shiv Shivakumar.
Speaking to M&M Global at last month’s Festival of Media Asia Pacific 2015, Shivakumar argued that brands can only build trust by keeping their promises (watch the full interview below).
“I don’t think the issue is whether brands are big or small. I think the issue is what is a brand’s philosophy, what is its promise?
“Every brand builds more trust and does more with consumers when it keep enhancing on its promise. The big difference in today’s world is you have to be far more responsive and far quicker than ever before. That is something which every brand team has to truly recognise.”
Shivakumar also discussed Pepsi’s latest ‘Crash the IPL’ ad competition it is running to mark the annual Indian cricket tournament.
Inspired by the ‘Crash the Super Bowl’ competition run by PepsiCo brand Doritos in the US, inviting consumers to create their own Super Bowl ad, Shivakumar described the initiative as a “great example” of user-generated content operating within clear brand guidelines.
“Today, consumers are far more willing to interact with brands. We have a programme called ‘Crash the IPL’ where we’ve asked consumers to make ads for the brand Pepsi. We’ve given them a set of tools and broad direction, and said now it’s your call,” he said.
“We’re getting tonnes of people from specialists, consumers and ‘prosumers’, who are a little more ahead of the curve. It’s a great example of user-generated content, but in the heart of the brand with very clear lines of responsibility.”