EASY Wealth Creation Tips & Secrets ft. Purplle Founder Manish Taneja - FO 127 | Raj Shamani
Raj Shamani's Figuring Out
The Signaling Value of Beauty Products
The speakers explore the use of fragrances, lipsticks, and perfumes as signaling tools and discuss the price differences between bathroom and dressing table products.
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In the latest episode of Figuring Out Consumer Brands Raj Shamani sits down with the Co-founder and CEO of Purplle.com - Manish Taneja, a leading player in India's booming beauty and personal care industry. Together, they explore the nuances of the Indian beauty market, its unique challenges, and the strategies that have propelled Purplle.com to success.
The conversation kicks off with a deep dive into why certain Western countries have outpaced India in terms of development. Drawing comparisons with countries like Singapore and South Korea, he highlights what these nations have done differently in terms of governance and entrepreneurship, shedding light on lessons India can learn.Raj then steers the discussion towards the beauty market in South Korea and what sets it apart. Manish reveals key differentiators, such as a focus on packaging, high-quality ingredients, and a unique approach to reaching new audiences. He emphasizes the importance of differentiation and local insights, touching upon India's multi-market diversity.
The podcast delves into the dynamics of the Indian beauty market, where both traditional and premium brands coexist. The conversation touches on premium brands, celebrity endorsements, and the importance of building a strong brand presence.Loyalty in the beauty industry is also explored, with Manish discussing the evolving aspirations of Indian consumers. Raj and Manish engage in a thought-provoking discussion about identifying gaps and opportunities in the market. Manish emphasizes the need for a contrarian approach and standing out in a crowded market.
Watch this podcast till the end to gain valuable insights into India's beauty industry, marketing strategies, and the keys to building a successful brand in a competitive landscape!
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Timestamps:
00:00 - Introduction
2:50 - Largest beauty markets in India
3:39 - Why are Western countries ahead of India?
7:22 - Success secret of South Korea
13:00 - 4 Ways to make your product stand out
21:30 - Brilliant ways to win the price war
26:32 - How to build a premium product in India?
27:12 - Deepika Padukone's brand 82°E unsuccessful?
28:24 - Signalling value in luxurious brands
34:56 - Don'ts for brand building
35:32 - Are celebrity endorsements not working anymore?
39:04 - Will private labels not work in India?
42:40 - How to build loyalty?
45:15 - Top fields to make new businesses in 2023!
50:05 - Product VS Marketing
51:01 - Domino's brilliant marketing strategy
53:06 - How to win by doing things differently?
58:41 - Conclusion
My gear for shooting this video:
Canon EOS 200D II 24.1MP DSLR Camera: https://amzn.to/3GuiPFK
Canon EF50MM F/1.8 STM Lens: https://amzn.to/3WZOSoi
Canon EF-S 18-55mm f/3.5-5.6: https://amzn.to/3ZpKBMy
Yunteng Aluminium Tripod (Vct-690, Black): https://amzn.to/3ItEzV0
Zoom H6 All Black (2020 Version): https://amzn.to/3irUCIf
Shure SM7B Cardioid Vocal Dynamic Microphone: https://amzn.to/3GPimiM
Shure MV7 USB Podcast Microphone: https://amzn.to/3Xjy63d
GODOX SL150II 150W LED Video Light: https://amzn.to/3XeN0aL
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About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business C
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