Anyone who has ever sold a vehicle, or bought a pre-owned one, knows the hassles related to the most important aspect of the deal – the pricing. This gap is what makes Droom’s Orange Book Value, an algorithmic pricing engine, such a disruptive phenomenon in the automotive resale space. To firmly establish OBV’s game-changing stance as an industry benchmark in the realm of automobile buying and selling, Droom has rolled out its mega marketing campaign titled ‘Resale Ka MRP’. With a massive budget of INR 25 crore, Droom is betting big on the dedicated 360-degree integrated media blitz to enhance consumer salience about OBV and how it can completely alter the dynamics of the industry.
The idea behind the logo is that through our communications, we are passing a message that the price of used vehicle should be same for seller and buyer, reducing the negotiations between them and OBV provides that required pricing standard. The two dots in the middle of O in OBV signifies eyes and the two upper and lower halves of O signify the smiles of buyer and seller respectively. We have associated with orange color since start and we have maintained the same in the new logo for the energy and warmth it signifies. We have added blue color which signifies trust, peace, intelligence and loyalty to provide appeal to both sellers and buyers. The fonts and typeface has been chosen to be viewer friendly as well emit authority of being the used product pricing standard.
Speaking on the announcement, Sandeep Aggarwal, Founder & CEO, Droom, said, “With the demand of pre-owned vehicles in the country outstripping that of new vehicles, there was a pressing need for an objective pricing mechanism. Through its data science-based approach, Orange Book Value gives a fair market value of a used vehicle under 10 seconds. With the ‘Resale Ka MRP’ campaign, we wish to underline how this algorithmic engine does away with all the discrepancies that have plagued this segment so far with non – standard pricing. We are confident of the game-changing potential of OBV and have therefore decided to support it with a dedicated media blitz that will enable more and more consumers and auto dealers to leverage the 21st century tech and data science pricing tool.”
Team Contract, the ad agency behind the concept of the OBV TVC, added, “The Diwali season is a time when every brand is trying to enter consumer’s mind space with gifting and home improvement ideas. But Diwali is also a time when friends get together and conversations take every direction. We decided to use an interaction between friends to showcase how opinions can often differ when it comes to agreeing on the value of a used car. Valuation of a used car is such a subjective and open discussion that there is hardly ever an easy agreement on it. This film beautifully captures one such conversation at a Diwali get together, and strongly underlines how a concept such as OBV can make this debate obsolete!”
Droom’s latest marketing initiative kicks off with the launch of an OBV Diwali video, which revolves around a Diwali-time discussion between friends about the value of a pre-owned car, as well as two animated ‘how-to’ videos about OBV. With the campaign already maintaining a sustained presence through social media platforms such as Facebook and Youtube, Droom will be following it up with a 360-degree campaign comprising TVCs, radio & outdoor media, and digital media.
Using OBV to determine the value of a vehicle is very simple. All users have to do is select their purpose (buying/selling), select vehicle category, and parameters (make, model, year, condition, trim, and km driven etc) in order to get an independent, unbiased and data-driven report on the fair value of any vehicle. This ease of usage and trust factor has driven great user traction, and has seen nearly 90 million pricing queries generated through OBV’s web and mobile platforms till date. Below is the link to OBV Diwali Video:
Video link: https://youtu.be/8Rq8CFVNuL8
The animated videos explaining OBV and the OBV Diwali video can be seen here: