What happened to the classical lessons of PR….?
Of late we are hearing to the stories of bubble burst of Start ups, specially after we-work story of Softbank losses and its cascading impact on other startups specially “Oyo rooms” .. one brand I truly love for the model, value they created and the core modern die hard: “So Indian Ambition” this team has!
There are stories distributed on media about the brands- operations, over valuations, malpractices etc etc. I got curious and followed media stories and found that they are trying to write off a dream created company in a very short span. To my shock the stories are all full of stories from typical Indian hospitality ecosystem… no one even bothered to research on what is the ecosystem of budget hotels. Also the story writers have not bothered to mention that what Oyo is trying to create is an ecosystem which should ideally take care of these malpractices.
So in my view the brand is what it was and would thrive: however I am also surprised that the company has not started its own PR for positive publicity, which is a major worry. Oyo is a household brand among its target market, being silent will give space to competitors to snatch that mind space. Oyo should come up with a Cadbury like image management campaign and protect the newly established baby brand from getting impacted from such wide opened ill-intentioned, not so business savvy media mouths ..
CFA, PhD Fintech# Financial Modelling #Banking Regulations
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