Branding, marketing and communication study of Bonanza portfolios Limited; Gaja Capital Partners

Abstract

The financial services market consists of many national brands as well as numerous local players and it is extremely important to have a sound and consistent Marketing Strategy in order to ensure that the brand has a strong equity as well as to ensure that there are leads being generated for the various branches across the country. The Media and Marketing strategy tends to be bifurcated into - Lead Initialisation and Brand Building. The study was conducted in two parts - 1) an explorative study consisting of intervi~ws conducted with retail investors to understand their perception of broking houses and 2) interviews conducted amongst senior executives and managers looking after the brandiIig· and marketing function in leading broking houses. The explorative study had 100 respondents - 50 Bonanza customers and 50 retail investors who were not customers of Bonanza. Interviews were conducted with Senior Managers of - Angel Broking, Motilal Oswal, Sharekhan and Nirmal Bang. Based on the responses, conclusions were drawn on the media consumption and attributes that are associated with Broking Houses. Some of the major learnings include, Retail investors do not make purchase decisions based on messages that are advertised and the 4 major attributes that are associated with Broking Houses are - 1) Service - Good quality service in terms of transparency in transactions through timely dispatch of contract notes.. and speedy deposit of funds 2) ResearchlKnowledge - Regular tips and suggestions of buying/selling and the success ratio of these tips 3) Trust/Security - The transparencY in transactions, disclosure of all the fees/charges and lack of misconduct in the accounts & 4) Price - Least Brokerage, flat rates for certain brackets of transactions. The relative importance of these attributes was studied and recommendations provided. Interviews were conducted with Mr. Krunal Mehta, VP, Branding & Corporate Communications, Angel Broking; Mr. Rajiv Prabhakar, VP, Retail Broking, Sharekhan; Mr. Harl Krishnan, VP, Marketing, Motilal Oswal; Mr. Rakesh Bhandari, Sr. VP, Corporate Planning. The intern also had interactions with the media agency of Bonanza - Motivator, Group M and another external agency - Mediaedge, Group M.