This is about my son Sam Moorthy “Hungarian brands have focused more on the short-term” 2014. October 09. 13:19|Inspiration Eva Gaborjak “Hungarian brands have focused more on the short-term” Beyond Borders is a new series of interviews with expat brand builders living in Hungary. Our first guest is Sam Moorthy, founder and CEO of independent consultancy firm Icons & Images. We quizzed him about the local marketing trends and the unique trait of Hungarian consumers. Whats unique about Hungary or the Hungarian consumers (perhaps compared to other markets in the region) that marketers should know about? To a large extent, consumers in Central Europe are similar - in their purchasing behaviour, brand preferences, value consciousness, etc. So it does make sense for marketers to aggregate that behaviour to some extent. However each country’s culture, history, language and value system impact consumer behaviour in subtle but important ways. I’ve learnt that Hungarian consumers attach a lot of importance to feeling connected with their family. This goes beyond family togetherness and celebrations. It’s a genuine desire to be close to the ones you care for. Hungarian consumers also place a lot of trust in the brands they buy and use. Their purchase decision is often a very considered one, and they like to feel that their decision is correct and justified. Lately, most purchases have become value driven, and consumers might get swayed by a ‘better deal’. But brands that recognise the nuances of desire and behaviour invariably do better in the long run. What are the trends you see in marketing in Hungary? Are they in-line with the global trends or are they specific to the region? Hungary is not immune to the challenges brands face world-wide. So global trends - whether in consumer behaviour or marketing decisions – are observed here as well. Having said that I feel Hungarian brands and Hungarian marketing professionals have focused more on the short-term than their counterparts elsewhere; in some cases even within CEE. While understandable, this focus has led to more promotional and (I say this with hesitation) ad-hoc activities, and not enough brand building effort. Done on a going basis, this is certain to damage brand equity long-term. Indeed if a brand is sustained via tactical activities (e.g. promotions, events) alone, it ends up buying consumer loyalty. Add to this the fact that most decision making is centralised today (and outside Hungary), leaving little scope for local marketing teams, and the trend is quite worrying. A second worrying trend is the amount of effort being put into training new talent in marketing and related fields. It’s not enough. Young talent is gaining exposure to only one aspect of marketing – execution. They are expected to adapt and implement decisions made elsewhere. Being at the sharp end, local teams should have more of a say in the actual marketing decisions and planning. If that is not possible - for whatever reason - then young talent should be given exposure to other markets or provided formal training. Otherwise in a few years’ time we will risk having a generation of marketing professionals whose capability will lag behind their counterparts’ in other countries. While not really a trend, I would really love to see more Hungarian brands – in any category – build its values and stand up to international competition – either in Hungary or other countries within the EU. Whats your favourite Hungarian brand and why? I have more than one favourite brand. I both admire and like Zwack and Pick. They are quite unique in their categories; and have a story and a history that is fascinating. They have strong intrinsic value that makes them attractive, and both brands stay connected to their loyal consumers. They are superior to competition. They are consistent, and have stayed relevant over time. Lastly, I like how both brands taste. How long have you been here and what brought or drew you to Hungary? I’ve been in Hungary for almost 14 years. I got transferred here from Prague in Nov 2000, and I continued working in that company till Mar 2009. I then quit and set up a brand and communications consultancy – Icons & Images Ltd. So work brought me to Hungary, and my love for the land and the people has kept me here. How is life as an expat in Hungary? I wouldn’t know is the honest answer. After 14 years, I do not feel like an expat. As my wife says – our passports are Indian, but our hearts are firmly Hungarian. Speaking candidly and from personal experience, I cannot imagine any expat having a less than good experience here. Where are you from? Did you live/work anywhere else before moving here? I’m from the South Indian state of Kerala, and I grew up in several Indian cities. I joined advertising in 1987, and have been involved with marketing communications since. The company I worked for in 1997 (my third agency), transferred me to Prague. I was responsible for multinational clients – P&G, GSK and MARS – and for developing local talent. As I said earlier, I got transferred to Budapest two and a half years later. Over the years, my scope and responsibilities changed and grew though I continued working for the same company and living in Budapest. What are the pros and cons of working in marketing as an expat? Marketing is an exciting and challenging field, and there’s a great deal to learn and absorb throughout one’s career. So I suppose one of the major pluses is the opportunity to experience and absorb new cultures, learn about different consumers, tackle unique markets and their challenges. One grows not only as a professional, but also as an individual as a result. Equally the challenge for an expat is to look for change, constantly. This is important both for one’s career and to ensure that experiences and exposure constantly remain fresh. Change need not imply moving to a new location or a different region – though that is certainly helpful. Sometimes new assignments, added responsibility, or a similar change in job focus is equally beneficial. The key thing is to keep the mind fed with new stimulus constantly. This is equally relevant whether one moves to a more mature market, or is sent to a developing market. What’s the single biggest issue you face professionally when doing marketing in Hungary? And in your personal life? I cannot answer this objectively, mostly because in my mind I’m part of the local fabric. So while I can distance myself and take a dispassionate look at things, I do feel the same issues and frustrations as everyone else. Can you share a favourite moment/achievement from your work here? There have been several moments of immense joy and satisfaction. But the most significant one is probably the first local new business win I participated in. I then followed that up by working on that account for the first year, including communications development. That experience really made me believe I had begun understanding the local flavour. That experience went a long way towards making me feel Hungarian.
Posted on: Sat, 18 Oct 2014 23:58:57 +0000
Trending Topics
Recently Viewed Topics
© 2015