The moment I heard "Jungle jungle baat chali hai.....", I got goosebumps. It brought back all the memories from my childhood. Those Sunday 7.30 evenings started flashing in front of my eyes, when I used to wait for this song to play on TV and watch my favorite show The Jungle Book.
Listening to this song made me immediately decide that I will be watching the 2016 remake of The Jungle Book on the very first weekend. I decided that this will be my 3 years old son's first movie in a theater hall.
I did go and enjoyed the movie to the fullest. I was happy to see my son sitting on the isle besides our seats, with a tub full of popcorn, trying to identify animals in the movie. I not only cherished an old memory, but created a new memory.
What happened to me?
I was getting a sense of nostalgia. It's called as a desire to return in thought or in fact to a former time, to one's homeland or to an old relation. It returns you to happy time lived in the past. It activates release of happy chemicals like dopamine. No wonder that one yearns to go back again and again.
There are many such songs and things that have made a come back in my life over last few years that makes me nostalgic. Tamma Tamma, Tan Tana Tan Tan Taara, etc. (It is said that music is a powerful source of nostalgia). There are many products that I have seen and had desire of having or owning since I was a child. A bongo, a mechanical kit, having a pet dog, eating Maggi, etc.
These are highly emotional bonds that I have with these memories. However, at the end of the day, all these are consumer products. They fetch a value. I don't mind spending money on them, just to make myself relive those moments. These products carry what I call as Nostalgia Value.
The moment I saw The Jungle Book song, apart from deciding to go for this movie, it also struck me that this movie will earn at least Rs 100 crores because of this song itself. It ended up being the highest Hollywood grosser in India with collections of Rs 250 crores.
This is the power of nostalgia. The memories and emotions from childhood becomes a valuable source of income for the product owners. They own my memories. Because I am the decision maker now, because I have the spending power, I get to make myself happy by reliving those moments. This emotional bonds are very hard to make. But once made, it provides the product with longevity. The product owner can monetize my feelings purely based on that emotion attached to it. It's a durable bond.
This is how an old chaddi song made millions from Indians.
(By the way, the song Tan Tana Tan Tan Tan Tara also made me shell out Rs 500 this weekend. This is despite reading bad reviews about the movie. It has also entered Rs 100 crores club.)
Maggi could make a come back after getting banned by striking an emotional chords. It enjoys 30+ years of bonds with today's earners and decision makers. Remember #WeMissYouToo campaign?
I am sure Patanjali noodles would find it difficult to make a comeback if something unwanted is found in its packets.
Products and brands like Royal Enfield, Vespa, Nokia, etc. could think of making a come back purely by banking on this nostalgia feeling that it enjoys among its erstwhile users / aspirers.
Though there are things beyond nostalgia that are at play as well, like relevance of product, scale at which it can operate, re-investments required, etc. that one needs to be mindful about. People have memories with Jawa Yezdi as well, but it depends on many other conditions if M&M will be able to resurrect those emotions from people's mind.
All in all, a business owning such emotional connects needs to be considered as a strong business. These emotions are hard to build and generally are very durable source of competitive advantages. They carry a story. Even if knocked down, they have a capability of coming back.
India is a young country. Median age of Indians is around 26-27 years. This is the age when people start to earn and get their spending powers.This is also the age when prime nostalgia forming age of 12-22 years is passed. Products and services that help people relive their adolescent moments can thus be highly valuable. Look out for them.
Listening to this song made me immediately decide that I will be watching the 2016 remake of The Jungle Book on the very first weekend. I decided that this will be my 3 years old son's first movie in a theater hall.
I did go and enjoyed the movie to the fullest. I was happy to see my son sitting on the isle besides our seats, with a tub full of popcorn, trying to identify animals in the movie. I not only cherished an old memory, but created a new memory.
What happened to me?
I was getting a sense of nostalgia. It's called as a desire to return in thought or in fact to a former time, to one's homeland or to an old relation. It returns you to happy time lived in the past. It activates release of happy chemicals like dopamine. No wonder that one yearns to go back again and again.
There are many such songs and things that have made a come back in my life over last few years that makes me nostalgic. Tamma Tamma, Tan Tana Tan Tan Taara, etc. (It is said that music is a powerful source of nostalgia). There are many products that I have seen and had desire of having or owning since I was a child. A bongo, a mechanical kit, having a pet dog, eating Maggi, etc.
These are highly emotional bonds that I have with these memories. However, at the end of the day, all these are consumer products. They fetch a value. I don't mind spending money on them, just to make myself relive those moments. These products carry what I call as Nostalgia Value.
The moment I saw The Jungle Book song, apart from deciding to go for this movie, it also struck me that this movie will earn at least Rs 100 crores because of this song itself. It ended up being the highest Hollywood grosser in India with collections of Rs 250 crores.
This is the power of nostalgia. The memories and emotions from childhood becomes a valuable source of income for the product owners. They own my memories. Because I am the decision maker now, because I have the spending power, I get to make myself happy by reliving those moments. This emotional bonds are very hard to make. But once made, it provides the product with longevity. The product owner can monetize my feelings purely based on that emotion attached to it. It's a durable bond.
This is how an old chaddi song made millions from Indians.
(By the way, the song Tan Tana Tan Tan Tan Tara also made me shell out Rs 500 this weekend. This is despite reading bad reviews about the movie. It has also entered Rs 100 crores club.)
Maggi could make a come back after getting banned by striking an emotional chords. It enjoys 30+ years of bonds with today's earners and decision makers. Remember #WeMissYouToo campaign?
I am sure Patanjali noodles would find it difficult to make a comeback if something unwanted is found in its packets.
Products and brands like Royal Enfield, Vespa, Nokia, etc. could think of making a come back purely by banking on this nostalgia feeling that it enjoys among its erstwhile users / aspirers.
Though there are things beyond nostalgia that are at play as well, like relevance of product, scale at which it can operate, re-investments required, etc. that one needs to be mindful about. People have memories with Jawa Yezdi as well, but it depends on many other conditions if M&M will be able to resurrect those emotions from people's mind.
All in all, a business owning such emotional connects needs to be considered as a strong business. These emotions are hard to build and generally are very durable source of competitive advantages. They carry a story. Even if knocked down, they have a capability of coming back.
India is a young country. Median age of Indians is around 26-27 years. This is the age when people start to earn and get their spending powers.This is also the age when prime nostalgia forming age of 12-22 years is passed. Products and services that help people relive their adolescent moments can thus be highly valuable. Look out for them.
