Ratan Tata: India’s Icon Of Business And Branding Genius Dies At 86
Colourscapes Offices – Mumbai
October 14, 2024[Removed]
October 14, 2024Ratan Tata, the iconic Indian business tycoon and branding genius, passed away at 86. His legacy offers lessons in marketing, innovation, and social responsibility.
GENEVA, SWITZERLAND – MARCH 05: Tata Group Chairman Ratan Tata looks on during the 83rd Geneva … [+] Motor Show on March 5, 2013 in Geneva, Switzerland. Held annually the Geneva Motor Show is one of the world’s five most important auto shows with this year’s event due to unveil more than 130 new products. (Photo by Harold Cunningham/Getty Images) The recent death of industrialist and Indian business tycoon Ratan Tata, chairman emeritus of Tata Sons and Tata Consultancy Services, at the age of 86, signifies the end of an era for the business world. Ratan Tata extended the Tata brand across various sectors, from Tata Sons and Tata Motors to Tata Steel, Tata Trusts, and the Tata Innovation Center. There is no doubt in my mind that this business titan created an extraordinarily branded business model, establishing himself as an undisputed icon of Indian business not to mention a brand extension genius. No one in India could escape Tata industries or the Indian tycoon’s influence; even at my alma mater Harvard Business School, there is a state of the art executive education building named Tata Hall. Ratan Tata’s obsession with branding transformed the Tata Group into a global powerhouse, partnering with British industry and acquiring iconic brands like Jaguar Land Rover and Tetley. Further solidifying his status as one of the world’s most visionary business leaders. Jaguar Managing Director Mike O’Driscoll, Tata Group and Tata Motors Chairman Ratan Tata, Jaguar … [+] Land Rover CEO David Smith, Land Rover Managing Director Phil Popham and Tata Motors Vice Chairman Ravi Kant pose with a Range Rover and a Jaguar during a press conference to announce Jaguar Land Rover’s Indian market debut in Mumbai on June 28, 2009. Tata Motors announced the British luxury brands’ entry to India but said there were no plans to assemble the vehicles in the country at present. Three models from each brand will begin selling June 29 in one of the world’s fastest-growing global automobile markets. AFP PHOTO/Pal PILLAI (Photo credit should read PAL PILLAI/AFP via Getty Images) After earning a B.S. Degree in Architecture from Cornell University in 1962, Ratan Tata joined the family firm and a decade later succeeded his uncle, the legendary JRD Tata, as chairman of the Tata Group. And as condolence messages pour in from influential figures, including Prime Minister Narendra Modi and former Prime Minister Manmohan Singh, Ratan Tata’s career offers invaluable lessons in leadership, innovation, and global expansion. He was a catalyst for change, championing ethical business practices and emphasizing social responsibility through initiatives like Tata Trusts. His leadership at Tata Motors and Tata Steel exemplified his commitment to rural development and nation-building. But more than that, Ratan Tata was a master marketer obsessed with branding, leaving an indelible mark on both the corporate landscape and Indian society. Here’s what I think made Ratan Tata a marketing genius: GENEVA – MARCH 03: Chairman of India’s Tata Motors, Ratan Tata, looks on during the first press day … [+] at the 79th Geneva International Motor Show, on March 3, 2009 in Geneva, Switzerland. The show features World and European premieres of cars, and will be open to the public from March 5th to the 15th. (Photo by Miguel Villagran/Getty Images) Integrity and Ethics Firstly, Ratan Tata championed ethical business practices throughout the Indian industry and fostered long-term relationships with audiences, leading to significant brand loyalty. Similarly, brand managers could better ensure their campaigns reflect transparency and authenticity. And it makes sense given research indicates that younger generations anchor their consumption in ethical considerations. Gen Z demands that brands stand for something meaningful and expects consistency in ethics across suppliers and partners. Notably, 46% of consumers aged 15-39 reduced their fast-fashion consumption in the past year, while 40% avoided products with excessive packaging. Additionally, 24% shunned companies due to allegations of sexism or racism, and 23% steered clear of brands with concerning environmental footprints. Embrace Change Secondly, Ratan Tata’s leadership within the Tata Group exemplified the need to adapt and evolve. He wasn’t afraid to embrace change. And yet it’s baffling to me how so many marketing leaders remain behind the curve on embracing new technologies. Consider luxury retail, some brands still remain trapped in outdated practices and have yet to fully embrace digital transformation. Recent data reveals that 68% of luxury shoppers believe digital tools like augmented reality (AR) can enhance their shopping experience. Furthermore, 64% use social platforms to inform their purchase decisions, and 69% expect luxury brands to integrate AR into their offerings. This shift underscores the necessity for brands to engage with the next generation through innovative digital experiences. MUMBAI, INDIA � OCTOBER 11: Ratan Tata(chairman TATA Sons and TATA motors) during the launch event … [+] of a new car,TATA ARIA with Carl Peter Forster(Group CEO & MD TATA Motors) wearing glass to watch the 3d effects of the event in Mumbai on 11th October, 2010.(Photo by Bhaskar Paul/The India Today Group via Getty Images) Social Responsibility Thirdly, Ratan Tata’s commitment to social responsibility through entities like Tata Trusts and his significant commitment to cancer care also serves as a guiding principle for marketing leaders. His philanthropic efforts included substantial donations, such as the $50 million to Harvard Business School to create Tata Hall, a state-of-the-art center for executive education. His dedication earned him the Carnegie Medal of Philanthropy from the Carnegie Endowment for International Peace in 2007 and an honorary Doctor of Law from the University of Cambridge— along with a slew of other honorary degrees. Yes, the man knew a thing or two about building his own personal brand. I’ve said it before and I’ll say it again, by integrating corporate social responsibility (CSR) into your marketing strategies, brands can forge deeper emotional connections with their audiences. A survey conducted in late 2022 revealed that 89% of marketers planned to invest in social responsibility initiatives in 2023, a significant increase from 45% the previous year. This growing emphasis on purpose-driven campaigns aligns with consumer expectations and highlights the role of brands in addressing societal issues. MUMBAI, INDIA – AUGUST 16: Industrialist Ratan Tata with Founder, Shantanu Naidu during the launch … [+] of Goodfellows, Indias first companionship start-up for senior citizens, at President Hotel, Cuffe Parade on August 16, 2022 in Mumbai, India. (Photo by Bhushan Koyande/Hindustan Times via Getty Images) Empathy and Humility Last but not least, Ratan Tata was a high profile business role model but he was also seen as a compassionate soul and an extraordinary human. And empathy and humility are exactly what his personal brand stood for. His initiatives included support for Apollo Hospitals, Air India, and the Tata Center for Technology, where he advocated for education and entrepreneurship. His empathetic leadership inspired many, reminding us of the importance of understanding our audience’s needs. Many of you who’ve read my book The Kim Kardashian Principle know that I’m a big believer in empathy when it comes to building brands. Building authentic brands that resonate with today’s savvy audience requires active listening and community engagement. According to recent studies, 68% of customers expect brands to demonstrate empathy, yet only 37% feel that brands generally meet this expectation. This gap presents a significant opportunity for marketers to connect with consumers on a deeper level. Ratan Tata was a true visionary. His profound influence on the Indian industry—particularly through initiatives like Tata Trusts and his leadership during the bitter management feud with Cyrus Mistry—has set a standard for business leaders everywhere. In remembering Ratan Tata ji (as he was respectfully called,) India mourns the loss of not only a business icon but an extraordinary human. R. Mukundan, Tata Chemicals managing director (L), Tata Consultancy Services former CEO S. Ramadorai … [+] (C), and Ratan Tata, Chairman of India’s largest conglomerate Tata Group, drink glasses of water filled from a “Swach” water filter during the product’s unveiling in Mumbai on December 7, 2009. India’s giant Tata Group on December 7 unveiled a new low-cost water purifier, which it hopes will provide safe drinking water for millions and cut the toll of deadly diseases. The Tata Swach – named after the Hindi for “clean” – is designed to be used in rural households that have no electricity or running water, using ash from rice milling to filter out bacteria, the company said. The device, which will be available in two variants of INR 749 and INR 999 (USD 16 and 21.5 respectively) uses tiny silver particles to kill harmful germs that can lead to diseases like diarrhoea, cholera and typhoid. AFP PHOTO/Indranil MUKHERJEE (Photo credit should read INDRANIL MUKHERJEE/AFP via Getty Images) And as deepest condolences pour in from Indian political leaders like Eknath Shinde and Shaktikanta Das, and heartfelt condolences are extended to his family, including Ratan Tata’s step brother and next of kin, Noel Tata, I believe India should celebrate Ratan Tata not only as a visionary leader and brand genius but a compassionate soul who left an astronomical imprint on the world. From earning his architecture degree at Cornell University to becoming its largest international donor, Ratan Tata’s journey is a testament to what it means to be a true nation builder, visionary, and believer in ethics. The late industrialist’s deep commitment to branding transformed the Tata Group into a global powerhouse, leaving an indelible mark on corporate identity. His contributions to Tata Motors, Tata Steel, and the Indian industry solidify his legacy as a visionary industrialist and a role model for so many other business leaders. And I have no doubt that Ratan Tata’s fierce discipline will continue to serve as an inspiration to entrepreneurs everywhere. May his soul rest in peace. Named Esquire’s Influencer Of The Year, Jeetendr Sehdev is a media personality, international speaker and the author of the New York Times bestselling sensation, The Kim Kardashian Principle: Why Shameless Sells (and How to Do It Right.) One Community. Many Voices. Create a free account to share your thoughts. Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space. In order to do so, please follow the posting rules in our site’s Terms of Service. We’ve summarized some of those key rules below. Simply put, keep it civil. 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