{"id":10675,"date":"2024-03-23T10:32:25","date_gmt":"2024-03-23T10:32:25","guid":{"rendered":"https:\/\/atlasuniversity.edu.in\/news\/?p=10675"},"modified":"2024-12-20T10:10:22","modified_gmt":"2024-12-20T10:10:22","slug":"masterclass-with-pracheta-mazumdar-from-bumble-unveiling-the-secrets-behind-21st-century-cult-brands","status":"publish","type":"post","link":"https:\/\/atlasuniversity.edu.in\/news\/masterclass-with-pracheta-mazumdar-from-bumble-unveiling-the-secrets-behind-21st-century-cult-brands\/","title":{"rendered":"Masterclass with Pracheta Mazumdar from Bumble: Unveiling the Secrets Behind 21st Century Cult Brands"},"content":{"rendered":"\n
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In today’s hyper-competitive market, the quest for brand loyalty and consumer devotion has never been more crucial. Brands aspire not just to be recognised but to be revered, forming a cult-like following that transcends mere transactions. To delve deeper into this phenomenon, ATLAS ISME School of Management & Entrepreneurship<\/strong> recently hosted a captivating masterclass titled, ‘How do brands become a cult in the 21st century<\/strong>!’ featuring the esteemed guest speaker, Pracheta Mazumdar <\/strong>from Bumble<\/strong>.<\/p>\n\n\n\n

About Bumble<\/strong><\/h2>\n\n\n\n

Bumble, a pioneering app in the digital realm, has redefined the landscape of modern relationships. Founded by Whitney Wolfe Herd in 2014, Bumble empowers women by putting them in control of initiating conversations in dating, friendships and professional networking. This innovative approach has garnered widespread acclaim, propelling Bumble into the forefront of social networking platforms. With its commitment to inclusivity, safety and empowerment, bumble exemplifies the transformative power of technology in shaping the way we connect and interact in the 21st century.<\/p>\n\n\n\n

Emotional Impact<\/strong><\/h2>\n\n\n\n
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One of the key takeaways from the masterclass was the profound emotional impact that brands can wield over consumers. Brands are not just products or services; they are vessels of emotion, capable of evoking feelings of joy, frustration or even anger. This emotional resonance can significantly influence consumer behaviour and perceptions, illustrating the power of effective branding in today’s market landscape.<\/p>\n\n\n\n

Premium Pricing and Brand Loyalty<\/strong><\/h2>\n\n\n\n
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Pracheta <\/strong>shed light on the symbiotic relationship between premium pricing and brand loyalty. Consumers often willingly pay a premium for branded products due to the perceived value, trust and status associated with the brand. This premium pricing, far from deterring consumers, actually serves to strengthen their loyalty, illustrating the importance of building a brand that transcends mere utility.<\/p>\n\n\n\n

Community Building<\/strong><\/h2>\n\n\n\n

A cornerstone of cult brands is their ability to foster a sense of community among consumers. Successful brands go beyond mere transactions; they cultivate a tribe of loyal followers who share common values and beliefs. Pracheta emphasised the importance of community building in brand development, highlighting its role in fostering long-term engagement and loyalty.<\/p>\n\n\n\n

Understanding Brand Identity<\/strong><\/h2>\n\n\n\n
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At the heart of every cult brand lies a distinct and compelling brand identity. Pracheta underscored the importance of understanding and articulating this identity, which encompasses the brand’s unique values, personality and visual elements. A clear and resonant brand identity not only sets a brand apart in the marketplace but also forms the foundation for building a passionate following.<\/p>\n\n\n\n

Strategic Brand Development<\/strong><\/h2>\n\n\n\n
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Central to the masterclass was the discussion on strategic brand development. Pracheta outlined the six principles for creating a cult-like following: <\/p>\n\n\n\n

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  • Be remarkable: <\/strong>Forge a value promise that sparks conversation, ensuring it resonates with consumers. Take Apple, for instance, whose relentless pursuit of innovation has consistently captivated audiences, earning praise and loyalty.<\/li>\n\n\n\n
  • Have a purpose:<\/strong> Articulate a compelling vision that transcends mere products, rallying both internal and external stakeholders around a higher cause. Patagonia’s “Worn Wear” campaign exemplifies this, championing sustainability and environmental activism.<\/li>\n\n\n\n
  • Be Inspirational:<\/strong> Align brand attitude with personality, inspiring both internal and external communities. Companies like Amul and TATA epitomise this principle, embodying values that inspire and resonate with their audiences.<\/li>\n\n\n\n
  • Be Relatable: <\/strong>Infuse brand values into every interaction, making the brand persona familiar and relatable. Brands like Lululemon and Converse All Star excel at this, creating authentic connections by behaving in human ways and owning up to mistakes.<\/li>\n\n\n\n
  • Be Involved: <\/strong>Engage customers early and often, valuing their feedback to shape the brand. Lego and Mountain Dew empower consumers, celebrating their contributions and fostering a sense of ownership.<\/li>\n\n\n\n
  • Be Pervasive:<\/strong> Craft immersive brand experiences that leave a lasting impact, weaving the brand into the fabric of consumers’ lives. Disney’s centennial celebrations and Red Bull’s high-octane events epitomise this principle, creating memorable experiences that resonate deeply with audiences worldwide.<\/li>\n<\/ul>\n\n\n\n

    These principles serve as guiding lights for brands seeking to transcend the ordinary and forge deep connections with consumers.<\/p>\n\n\n\n

    The masterclass offered invaluable insights into the elusive realm of cult brands in the 21st century. By understanding the emotional impact of brands, leveraging premium pricing, fostering community, defining a clear brand identity and embracing strategic brand development, brands can aspire to transcend mere commerce and become icons of devotion and admiration. As the marketplace continues to evolve, the lessons gleaned from this masterclass will undoubtedly help ATLAS ISME students in shaping the future of branding and consumer engagement.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    In today’s hyper-competitive market, the quest for brand loyalty and consumer devotion has never been more crucial. Brands aspire not just to be recognised but to be revered, forming a cult-like following that transcends mere transactions. To delve deeper into this phenomenon, ATLAS ISME School of Management & Entrepreneurship recently hosted a captivating masterclass titled, […]<\/p>\n","protected":false},"author":1,"featured_media":10933,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56,50,58,51],"tags":[],"class_list":["post-10675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-academic","category-industry","category-isme","category-masterclass"],"_links":{"self":[{"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/posts\/10675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/comments?post=10675"}],"version-history":[{"count":3,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/posts\/10675\/revisions"}],"predecessor-version":[{"id":10940,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/posts\/10675\/revisions\/10940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/media\/10933"}],"wp:attachment":[{"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/media?parent=10675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/categories?post=10675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/atlasuniversity.edu.in\/news\/wp-json\/wp\/v2\/tags?post=10675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}