According to Ajay K Kakar, vice-president, O&M Financial, the multi-lingual campaign will be released in all the leading newspapers across the country. ``It's a press-driven campaign supported by outdoor media. From June 12, we have put up numerous hoardings and banners at principal locations across the nation. The objective is to create an awareness for the product before the press campaign breaks,'' says Kakar.

As part of its integrated marketing communication solutions, the agency also initiated a direct marketing exercise from June 12. ``We are sending direct mailers to all our existing agents andinvestors across the country,'' says Kakar. In an effort to empower agents and potential investors, the agency is also sending an informative booklet tilted `Frequently Asked Questions on the S&P CNX Nifty' along with its direct mailers.

Eschewing staid and direct press advertisements to communicate the merits of its financial product, IDBI chose a creative route to communicate its brand message. The headline for one of the press ads screams `50 Blue Chip companies for just Rs 5,000 only'. The text then lists the top 50 companies -- from Arvind mills to TVS-Suzuki. ``The message is loud and clear. By investing in this new scheme, the investors can derive the advantages of the price movements in these select 50 stocks that determine the Nifty index values,'' explains Kakar.

According to IDBI Mutual Fund officials: ``The objective of the campaign is to inform the potential investors about an alternate investment vehicle -- that they have in our product. We also want to create an awareness about theconcept of an Index Fund.'' The campaign is designed to be timeless, as the scheme is an open-ended one. The amount targeted for mobilisation through this fund is Rs 100 crore.

It is for the first time that IDBI MF is launching an index fund and -- this will be the second index fund in the country. The first was launched by UTI around six months ago, and it was based on the BSE Sensex. The IDBI fund is the first to be based on the NSE Nifty.

In the past, the institution has opted for the electronic media, while launching other schemes such as the IDBI I-Nit'95 and I-Nit'96. However, for the Index Fund campaign it deliberately chose to launch the new product through press and outdoor media alone. ``It is a rational product. And so, avoiding an emotional medium, we have opted for a rational medium. Our advertising strategy involved targeting the right audience and simplifying the product and its benefit into a simple brand proposition,'' elaborates Kakar.

According to the IDBI official, the targetaudience includes retail investors, banks and institutions. ``Over a period of time, we will focus on provident funds and pension funds. We would like to become more aggressive on the retail front as more awareness is created by the product and the benefits associated with it,'' says the official.

As for its media strategy, the agency first tried to generate interest through its outdoor media campaign consisting of hoardings and banners. This is being followed by brokers conferences in major cities. Finally, on June 16, the press campaign will be launched to communicate the benefits of the Index Fund. IDBI officials say that the institution will opt for TVCs only when the concept of the Index Fund catches on.