He discusses iQOO’s marketing strategy, festive season plans, and more.

iQOO, founded in 2019, is a sub-brand of Vivo. The two companies share resources like R&D (research and development), supply chain, and media procurement. However, it operates independently in areas such as planning, e-commerce, and media strategy.

So, how does iQOO differentiate itself as a sub-brand of Vivo?

Nipun Marya, CEO, iQOO India, on the sidelines of the launch of The Quest Report 2024, says that from a product standpoint, Vivo’s core promise is to offer best-in-class camera and design, whereas iQOO promises high performance and advanced specs.

“If a customer is looking for a phone with industry-leading camera quality and standout design, Vivo becomes a natural choice,” he adds.

He notes that customers who prefer to shop offline are more likely to choose Vivo, while iQOO is the preferred brand for those who favour online purchases.

The brand's portfolio includes three product series: the Z series, priced between Rs 10,000 and Rs 20,000, is an entry-level option aimed at students. The Neo series, starting at Rs 30,000, is designed for those in early jobs or post-graduate studies. Finally, the flagship series caters to professionals in their 30s who are well-established in their careers. The flagship series starts from Rs 50,000 to Rs 60,000.

In the mobile category, the entry-level segment contributes the most in terms of volume. Therefore, it is the same for iQOO as well.

iQOO puts special focus on esports and gamers in its marketing strategy, involving an array of initiatives and efforts by launching several gaming IPs and collaborating with gaming influencers. In the past, the brand also appointed a Gen Z gamer as chief gaming officer, offering a Rs 10 lakh salary.

“Esports is gaining popularity among today's youth, and we believe it's a serious sport. The inclusion of esports as a medal category in the Asian Games reinforces its significance. We have a comprehensive plan around esports as part of our product marketing strategy," he mentions.

Marya believes that the approach is about the democratisation of technology and information. He emphasises, “Anyone who understands technology knows what iQOO offers, and hence chooses us accordingly.”

Marya further adds, “Our core promise is to deliver extremely high performance through smartphones, and the key aspect to show high performance is with high graphics, which naturally aligns esports with our marketing strategy.”

To target this, the brand recently partnered with BGMI (Battlegrounds Mobile India).

For the festive season, the brand is looking to launch two new products: the Z9S series and the Z9S Pro series.

Campaign and report

The brand launched The Quest Film: Keep Questing, directed by Shoojit Sircar (director of Piku and Vicky Donor), featuring Bhuvan Bam.

The film, conceptualised by Ogilvy, is designed to inspire Gen Z and Millennials to embark on their own quests, challenge societal norms, and embrace their unique paths. It has not yet been released on social media channels.

The campaign was curated based on The Quest Report 2024, which the company released along with Cyber Media Research (CMR).

It encapsulates insights from 6,700 respondents, aged between 20 and 24 years, across seven countries: India, the United States of America, the United Kingdom, Brazil, Malaysia, Thailand, and Indonesia.

The report covers three broad areas: Gen Z Questers’ spirit and motivation to fulfil their dreams, obstacles and barriers that disrupt their quest for passion, and career choices that drive their interests.

Some of the key highlights from the report include: 

• One out of four Indian respondents are more inclined towards new-age job fields like content creation, data analysis, AI, and cybersecurity.

• 43% respondents in India and 46% globally are willing to give up work-life balance to succeed in their career.
• Twice as many women in India feel gender affects the pursuit of their dreams compared to men.
• Only 9% of Indian Gen Zs want to pursue entrepreneurship as they seek stability and security in work life.
• 19% Indians prefer career advancements in big organisations instead of startups.
• 73% of the Indian respondents believe that gap year can help them pursue their dreams and aspirations.
• Indian youth are hustlers, they take twice the initiatives compared to their global peers.
• 46% feel financial constraints as a barrier to pursue their choice of career. However, over 90% are confident in achieving their dream despite the barrier.
• 65% see failure as a learning opportunity, and 60% believe it pushes them towards their dreams.
• 51% of questers said that they would take up higher studies to support their quest while 49% of the Indians believe mentorship by experts is a powerful tool to support their aspirations.

Source: afaqs.com 

@KrishnaQ

Quester 

@iQOO Connect

@Nipun Marya

@Parakram Hazarika

@TechSAM009@NITIN@Tilak@Aojesh@TechieGuy@Sourav@Cv18@RockyFTW