Top Dolar $$ down the drain!
shashank pore
Demystify complex concern on | Business | Sales | Digital platforms l Brands | Creatives messaging |Product Design #resultsdelivered
"Half the money I spend on advertising is wasted; the trouble is I don't know which half." – John Wanamaker.
But this isn’t true for PNG Jewellers but all the Money, which has just signed Raveena Tandon as its new brand ambassador. And many of you might wonder why!
? P N Gadgil is a Maharashtra-centric jewellery brand, catering to a population of 12 crore, and recently went public with an IPO, now flush with cash.
? The brand has strong Marathi roots, so its design aesthetic and customer base are deeply connected to Marathi culture, making a Hindi cinema star like Raveena seem out of sync with the target audience.
? If the goal was to truly drive footfall and enhance brand salience, contemporary ambassadors with Marathi connections, like Bhumi Pednekar, would have been more aligned with the brand’s heritage.
? There’s no harm in being a regional brand—catchment areas are vast, as seen in the success of Thangamayil Jewellers or Senco Gold.
? PNG Jewellers should recognize that onboarding Raveena Tandon won’t help attract Tanishq's audience.
This is a classic example of brands flush with IPO funds splurging investor money. The promoters get a celebrity photo-op, but the brand gets zero in salience, resonance, or footfall.
#BrandStrategy #JewelleryBusiness #MarathiCulture #BrandAmbassadors #PNGGadgil #IPO #MarketingAlignment