In order to build indigenous food brands, companies have to bring disruption and innovation in pricing, product and packaging, said panellists at News Corp VCCircle Food & Agri Investment Summit 2017.
Once a product is introduced, consumers need to see it repeatedly for better adoption, said Siddarth Menon, CMO, Drums Food International. “Consumers may like the product, but may not frequently consume it. So the firm has to ensure that a differentiated consistent hook and brand strategy is in place”, he said.
“To use a cricket jargon, it may be sexy to score several fours and sixes like Shahid Afridi but we need consistent players like Rahul Dravid too. The product has to be consistent in its strategy for continuity,” said Saurabh Bajaj, senior principal associate, Proterra Investment Partners.
Agreeing that packaging is an important factor, Sreejit Nair, director – sales of Raw Pressery, said, “The challenge was to bridge the gap between taste and health. So we launched familiar juices like sugarcane and innovate on packaging”.
“Each region in India has a different taste palate. It is difficult to replicate success in other markets,” said Vivek Abrol, CEO, Maiyas Beverages and Foods Pvt. Ltd, said.
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