Why did Tata Sky go for Rebranding?
In today’s dynamic business environment, it has become mandatory for companies and brands to come up with new ideas and changes to meet the changing consumer preferences. Facebook has rebranded itself by renaming the company as Meta to explore newer practices and dimensions in its business. On the same lines, we have an Indian Direct-to-Home (DTH) platform that recently rebranded itself, none other than Tata Sky, largest provider of DTH services in India since 18 years.
What is Rebranding?
Rebranding is the marketing strategy adopted by businesses
to send out the message to the audience implying a massive change in their
business style. It is generally done by the brands in 2 cases: -
1. When the previous offering failed to
capture the essence of the planned objective,
2. When the brand wants to change its
practice and adopt new ways of targeting the customers to stay relevant.
For Tata Sky, its the second case.
Even the entertainment industry
finding it difficult to remain competitive against OTT platforms nowadays, Tata
Sky being a Television Network provider was starting to face cancellations by
the subscribers.
As nobody
wants to spend their money on content that isn’t trending and price-worthy!
Hence, Tata Sky came up with the rebranding
strategy and changed its name to Tata
Play, which is currently being promoted by Saif Ali Khan and Kareena Kapoor
Khan.
Is this
the right move by the service provider?
To observe whether it is the right strategy adopted by Tata
Sky (err Tata Play), we did a survey and took the feedback of several
university students (Delhi University). Around 77% of the people perceived it, as the right strategy adopted by
the company to stay resilient in the market and not be falling prey to
Marketing Myopia. (The tendency to not look out for the developments taking
place outside and just working on the initial old-style product).
As the DTH platform, that currently has 5 lakh subscribers,
was honing its OTT aggregation service, Binge for the past two years, it seems
to be confident in providing quality offering to the customers by adding
Netflix in the list of its13 major OTT platforms.
What
lies ahead?
Overall, the pandemic may have introduced Indian consumers across age groups to web content, but this hasn’t completely reduced the T.V viewership. One of the major challenges that lies ahead is to justify the pricing while delivering quality services. Indians being price sensitive, prefer monthly payment plans rather than yearly plans. With this attitude, the strategy may face some resistance it's all about how effectively the cons will be countered with the pros. Moreover, it is offering access to several OTT streaming apps in a single subscription payment which makes it a convenient option for the people so as to avoid the hassles of making separate payments.
We’ve realized that while many people are still watching television, they are also watching OTT content, and that it’s difficult to have different relationships across these many platforms and go around looking for content. Our new brand identity is in line with the idea that we are no longer just a DTH player but a content distributor across live television and OTT services"
-Harit Nagpal, Managing Director and Chief Executive, Tata
Play
Reference:
4. https://docs.google.com/forms/d/e/1FAIpQLSfoViy3XBKNxtIBb56vZ2DzrPB5KxrtV8lzK6Cy6cwexR7REA/viewform?usp=sf_link
Informative. Had no such idea abt this before i had a look at this blog.
ReplyDeleteReally well explained blog👌👏👏
ReplyDelete