Centuryply: Developing a Power Brand in a Commoditized Market
(11 pages of text)
Centuryply operates in the building materials space - specifically, in interior decoration with plywood, laminates and decorative veneers - alongside other categories like cement, shipping, and logistics. In India, this market is dominated by unorganized players, and plywood has always been treated as a commodity by marketers. Given the boom in real estate across residences and offices, as well as the current rapid lifestyle changes in India, the company expects sustainable and continuous growth and wants to achieve greater success in the wood furnishings category. Centuryply views investment in brand-building as a way to beat commoditization.The focus of the case is to explain innovative branding strategies that may be adopted by marketers to create a brand in the commodity market. In addition, it touches on the difficulties faced by a company to maintain a sustainable brand proposition amid competition. The key question is how to maintain brand-building momentum and take it to the next level.
- To showcase how innovative marketing and forward-thinking vision could help companies create a successful brand. The case was developed to help participants develop their creative, analytical, and strategic brand management skills.
- To explain how a comprehensive understanding of consumer insights, innovative products, and communication helped Centuryply position itself as a dominant lifestyle brand in the Indian plywood industry.
- To encourage discussion on how market research can be used to understand the consumer mindset and develop branding strategies.
- To describe the critical importance of the role of a groundbreaking product mix and brand portfolio management in gaining sustainable success in any market.
- To discuss the role of innovative communication strategies to ensure creative brand differentiation in a commoditized market.
India, Large, 2012
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