Average and Lower-income groups in India, bearing the worst impact of Covid-19, are forced to re-prioritize their financial goals to sustain similar future events. Gold savings remains to be a preferred form of investment across all socioeconomic groups in India owing to certain factors like protection against cash flow volatility, and hedge against inflation due to historically increasing prices.

With several gold loan options available in the market, the main challenge endured by low-income groups is the compulsion to invest in a fixed tenure scheme and unable to pay due to uncertain cash flows. Muthoot Pappachan Group took a step towards providing flexibility in terms of tenure and amount through a gold savings scheme. This savings scheme required a meaningful name and visual identity that resonates with the target audience, and we attempted to create a few concepts for the creative pitch.

Services

Brand Strategy
Brand Naming
Brand Identity

Duration

4 days

Context

Indian households possess 24,000-25,000 tonnes of gold used solely for consumption (Transforming India's gold market, Niti Aayog Report, 2018). Gold is a physical asset for Indians, which is used to borrow money by pledging or collateralizing gold coins or jewellery, and used for liquidity management for consumption purpose. Most of the existing services or plans require customers to contribute a minimum amount regularly for a long period. People with low-income avoid signing up due to unstable cashflows hampering consistent contribution towards a standardised product, seasonal need to buy and sell gold during festivals and marriages, and ease of liquidity during periods of shock.

The proposed scheme by Muthoot Pappachan Group not only provides the flexibility of amount and time but makes it easier by giving an option of redeeming whenever they want in the form of cash/gold coins. Customers can start saving as low as Rs.1, which will get converted to gold grams at the prevailing gold rates and these grams are accumulated in their account. The scheme provides a platform for middle and lower-income groups to develop a long-term savings habit in gold to achieve future life milestone.

Background

Muthoot Pappachan Group is one of India's leading NBFCs with a legacy of over 133 years. With over 3600 branches across India, they provide an extensive array of financial services for the common man's amelioration. Muthoot Exim, the precious metal vertical of the Muthoot Pappachan Group specializes in innovative products and offerings in the precious metal space.

Services

Save anytime, anywhere

Transfer money digitally with one click

Redeem accumulated
gold in cash/jewellery

Objectives

Through this creative pitch, we aimed to create a few concepts that would appeal to people belonging to lower-income groups and younger generations alike. An identity that reflects the cultural connotation attached to gold and savings in India with a twist of digital world. We presented three concepts keeping in mind the target audience and the brand's core goal- Empowering Human Ambition.

Crafting an identity for the scheme that reflects the cultural connotation attached to gold and savings with a twist of digital world.

Creating a brand name that stands out among the competitors and resonates with the target audience.

To visualize the data in a more organic way that connects with the readers.

Ideating visual concepts that conveys a simple message of saving in the form of gold.

The Approach

Having not so much experience about the B2C Market and specifically this group of Target Audience, we were a bit clueless on how to go about creating and presenting a evidence based design solution. From an ideal design thinking point of view, considering the problem statement is validated and the product-market fit is validated, the ideal next step would have been to talk to the User and understand their take on the offerings, Challenges faced and their expectations on the new product, blah blah. And coming up with an insights and then working on a brief and ideating solutions.

But considering we didn't have enough time for that adding up to the lack of experience with this TG, we took a reverse approach in going about analysis the brand MPG. What has worked. What has not worked. How to fix that.
Studying the competitors and what has worked and not for them. And them coming with a brief and solution using our kick-ass naming formula in the available 2 days timeline.

Brand Naming

A brand's name is how people define or talk about a company. It is crucial to stand out in a competitive market and develop an affinity with the target audience. We began the naming process by categorizing the existing verticals in a simple two-axis chart based on our naming algorithm, to understand its approach and construct.

After several rounds of internal discussions and reviews, we shortlisted three names.

Approach

Brand Naming

After several rounds of internal discussions and reviews, we shortlisted three names.

Name 1

Swarna Swapnam

Swarna Swapnam communicates gold in several languages (Hindi, Tamil and Malayalam). It captures the idea of gold savings being a dream to the target audience. The name resonates with the older audience and younger audience alike.

Name 3

Gold Daily

Name 2

Gold 1+

The name ‘Gold 1+’ reflects the core propostion of the scheme to save as low as 1 paise. It also communicates the idea of saving in the form gold. Gold being a universal term, appeals to both the older and younger generations equally.

Identity Design

Once the names were shortlisted, we moved to the visual identity of the brand. We started by creating a mind map and moodboard to ideate concepts.

Concept 1
Swarna Swapnam Concept 2
Gold 1+Concept 3
Gold Daily

Lord Kuber/ Kuvera or Kuberan is the lord of riches and wealth. 'Yantra' is a geometrical diagram used for worship and meditation in houses and temples across India. The Kubera Yantra or Kolam is to appease the lord of wealth and attract gold and money in homes.

The geometrical shape represents prosperity. This represents the brand's aim to inculcate the habit of saving into its target audience, especially younger generations, and provide a platform to save smaller amounts easily.

Circle

Squircle

Rounded Square

Square

Teardrop

Legacy Icon

Round Icon

Google Play Store

Full Bleed Layers

In the logomark, the four external circles represent the small savings of the customer that ultimately gets converted to equivalent gold grams, which is represented by the inner golden circle.

Circle

Squircle

Rounded Square

Square

Teardrop

Legacy Icon

Round Icon

Google Play Store

Full Bleed Layers

The Kalasha is referred to as the "overflowing full vase". The Kalasha is believed to contain amrita, the elixir of life, and thus is viewed as a symbol of abundance.

We can draw an analogy between the proverb 'Little drops of water, make the mighty ocean' and the gold daily scheme. Hypothetically by saving Rs. 1 everyday, the target group can accumulate equivalent gold which can be depicted by the overflowing vase/ kalash.

Circle

Squircle

Rounded Square

Square

Teardrop

Legacy Icon

Round Icon

Google Play Store

Full Bleed Layers

Project Team

We take pride in the in-depth exploration that shapes every project. Each element is crafted with precision and subtlety, and every design decision is made with purpose—to create thoughtful, lasting value through its use. This work is the result of close collaboration, where ideas were sharpened, challenged, and elevated together.

Harish Venkatesh

Communication Design

Renukha P

Ideation & Visual Design

Jagriti Sachan

Ideation & Visual Design

Varun Bhardwaj

Ideation & Visual Design

Samuel Sleeba

Case Study Development