Marketing is one of the most important factors for any kind of brand. If they want the existence of their brand to be known, the marketing of that brand has to be done right. Advertising is one of the main parts of marketing. When you advertise, the audience starts knowing about your brand and it creates a demand for your product or services amongst your potential buyer. When we talk about advertising, billboards are one of the main aspects of them, and when it comes to Billboards what is better than Times Square?
In this article, we will talk about the biggest advertising hub in the world and will decode how it has contributed to the success of so many brands. So, let’s not wait anymore and get started with the business.
“It’s pretty cliched, but Times Square is just incredible. You really feel like you’re in the capital of the world.”
To be honest, there is hardly anyone who doesn’t know what Times Square is. It is a tourist destination located in the neighbourhood of midtown Manhattan in New York City. Not to forget, it is an entertainment centre and a vital commercial intersection that is filled with billboards and advertisements.
As it is one of the busiest areas and over 360,000 people pass through this place daily, advertising here is one of the best if not the best option for brands. It is also said to be the most visited tourist place and it welcomes over 50 million people every year. This place deserves to be called the advertising Mecca because of its location and all the other reasons; this is also a place where billboards are the most expensive ones that are out there.
History of Times Square
Old Times Square
Now that we know, what Times Square is, let us unravel its history and how it came into existence. The 42nd Street at Longacre Square was renamed Times Square in 1904 and just three weeks later the first electric advertisement was put on there. The whole area is not only filled with advertisement boards that are larger than lives but it also is home to multiple theatres and restaurants.
During World War I, theatres were moved down to Times Square from other entertainment districts. Before Times Square became the area that we know, it was a place where crimes were quite common but now different and new technologies are used to make the advertisement more eye-catching and grand.
Why Times Square Ads Are So Famous
Some of the benefits one gets from advertising in Times Square are:
When you advertise your brand in a Billboard located in Times Square, and then naturally it means that you’ve made it to a place where you’re able to afford it, it leaves out the status of your brand.
In a day over 360,000 people pass through it, so the chance of your brand not getting noticed is minimal to none.
Thousands of advertisements can be seen in Times Square but there are some creative and grand ones and they are down below:
American Eagle
This American clothing mostly focuses on kids and teenagers. So when they launched a new collection they decided to place the ad on Times Square, the ad consisted of kids visiting Times Square who started dancing and having a blast on the roads of Times Square. This generates a lot of attention as it involves involving and engaging its audience and this includes kids who happily advertised for them.
HP
One of the well-known technology companies HP came up with a jaw-dropping advertisement, it was so huge that it took up to 10 billboard screens to place the ad. The ad consist of Serena Williams challenging a robot and the fight continues on all the screens, it was no less than a movie.
Toyota
The company for their new car model Prius model hosted a drawing competition where they ask people to pull out their iPhones and submit their drawings and those can be seen on the billboard for other people to see. This was a great idea to engage with the audience and make them involved in the advertisement.
Domino’s
One of the most loved Pizza brands, Domino’s took a risk by creating an advertisement that consists of real reviews that are given by their customers and displayed in Times Square in front of everyone. It was a brilliant advertisement not to forget risky as well. This showed how the brand is not afraid of criticism and how it is so transparent towards the general audience.
Mini Cooper
Mini Cooper in Times Square
This brand of car from Mini Cooper created a unique advertisement by developing and placing small cars beside the billboard and showing their new models to the general audience. Attaching a car next to a billboard on the side of a massive skyscraper, created quite a hype.
Brands That Advertise in Times Square
There is hardly any well-known brand that has not been advertised in Times Square. From launching new music or films by the entertainment houses to launching new models of cars and a collection of clothes from luxury brands everything can be found here. Some big brands like Chanel, Hyundai, Samsung, and others. The brands launched new campaigns and they can be seen here as well. Even birthday ads of celebrities are also grace here.
How Much Does it Cost to Advertise in Times Square?
It depends on different factors, that as the length of the advertisement, the type of the advertisement, and the number of props needed. The cost can be between $5000 to $50,000 per day.
Times Square is one of the biggest hubs of advertising, for any brand that wants to reach out to a large number of people, it is the best option to put up their advertisement on one of the billboards of Times Square. With technology, it is improving day by day and it looks like the hype for Times Square is here for the long run.
FAQs
Why is Times Square famous?
Times Square is the busiest pedestrian area and is one of the world’s most visited tourist attractions. It is famous for loads of theatres and is the centre of the major entertainment industry.
How did Times Square get its name?
It is called Times Square when The New York Times took up its headquarters place in the building.
How much does it cost to advertise in Times Square?
It costs approximately $5000 to $50000 to put up an advertisement in Times Square.
How to get a billboard in Times Square?
You can book your slot by visiting Times Square’s official website. Pick a date, upload a photo, and complete the process by making the payment.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Generic Aadhaar.
As per statistics, about 60% of Indians cannot afford to buy their daily medicines. The reason behind this inability is the high cost of medicines which are absolutely unnecessary in the Indian pharmaceutical market. About 85-90% of the medicines in the market are generic variants which ideally should be available at pocket-friendly prices. However, people end up paying enormous amounts for these drugs as the manufacturer has made it a wholesale business. The irony of the matter is that generic medicines are supposed to be dirt cheap.
Realizing the gravity of the situation, Generic Aadhaar has embarked on a mission to make generic medicines available to all Indians at an affordable price. It has disrupted the conventional pharma industry and is determined to empower single-store owners and pass on the benefit to the end customers.
The venture provides high-quality generic medicines from pharmaceutical manufacturers at cheap prices and increases the accessibility to these medicines all over India. Generic Aadhaar follows a unique pharmacy-aggregator, profit-sharing business model to source generic drugs directly from the manufacturers. The items are then given to the retail pharmacies, thereby eliminating the 16-20 percent wholesaler margin along with other layers of margins such as C&F agents in the trade.
The most important differentiator in the case of Generic Aadhaar is the fact that the inventory-carrying cost is very low when compared to stores that stock branded drugs. Since the stores are minimally designed, the overall cost of maintaining the business for franchises is also low. In addition, Generic Aadhaar helps small pharmacies earn double the profits and allows them to stay relevant in the market through the affordable medicines it provides.
An Interview with Arjun Deshpande | Founder of Generic Aadhaar
Generic Aadhaar ensures that the franchise is taken by an FDA licensed retailer. The retailer should be a pharmacist; if not, he or she should appoint one before the franchisee is taken. The Generic Aadhaar team helps with branding and provides IT support and medicines to the outlet.
Started with a sole mission of making medicines available to every Indian, a 16-year-old set his eyes on the pharma industry in 2018. At this novel age, Mr. Arjun Deshpande, one of India’s youngest and most dynamic entrepreneurs founded this innovative venture, Generic Aadhaar.
Generic Aadhaar – How It All Started?
Arjun’s mother work in the pharma space. When he was around 14 years old, he had visited various pharmaceuticals companies and plants along with his mother and that’s when he understood that generic medicines are sold in the market at the same price as the branded ones. He noticed that the various countries he visited, import generic medicines from India and make them available to the masses at affordable rates. He wondered, “Why is this not the case in India when we are the manufacturing hub for pharmaceuticals?”
It stroked him and gave rise to the vision of creating a brand identity through ‘Generic Aadhaar’ outlets. He found that the extra cost for generic medicines could be reduced. What does he do then? He tied up with WHO and GMP-certified pharmaceuticals and directly started providing his franchise’s pharmacist with the medicines that are produced in WHO GMP-certified pharmaceuticals companies. This helped to reduce the cost of medicines by nearly 80%. Arjun, inspired by Ratan Tata, wanted to serve the nation through his generic medicines initiative.
Generic Aadhaar, the name says it all; it will give aadhaar to the customers on their medical bills on every purchase of Generic medicines. As a pharmaceutical company, Generic Aadhaar went for a white and green color combination. This combination is symbolic of the healthcare segment.
Generic Aadhaar Logo
The tagline of Generic Aadhaar is “Dawaiyan Kifaiti Daarome Lejayiye Aapne Gharome” which means that their companyrevolves around access to affordable medicines.
Generic Aadhaar – Vision and Mission
Vision: Generic Aadhaar is a pharmaceutical company with an aim to bring all small medical stores under one roof and help them to earn huge profit margins. It will support you to compete with big retail medical outlets giants and online pharmacies and help the citizens to avail good discounts on all medicines through generic aadhaar stores.
Generic Aadhaar holds a long-term vision of assisting the underprivileged sections for the betterment of India.
Mission: To serve customers by giving affordable quality healthcare medicines. To pull out all the stops to ensure no Indian is barred from the availability of generic medicines. The company is determined to empower single-store owners and pass on the benefit to the end customer.
India is a massive hub for medicinal drug intake and consumption. To cater to the underprivileged people who cannot afford high branded medicines, the Mumbai- based Generic Aadhaar is planning to expand its pan-India reach by opening more than 800 plus retail outlets across India. The company is currently operating 45 outlets in cities like Mumbai and Pune.
The pharmaceutical entity wants to touch every corner of India in the next five to seven years. It is getting calls from all parts of India for extending its franchise outlets. Generic Aadhaar is also working on an initiative called “Entrepreneurs Under One Umbrella.” Under the Generic Aadhaar umbrella, they provide quality medicines from reputed pharma companies by offering up to 80% lesser prices. It provides the biggest portfolio of Generic medicines from government-approved quality manufacturing facilities.
Generic Aadhaar provides affordable generic medicines (particularly for the underprivileged class of India) through its outlets that are present across the nation. The medicines sold by the company cover all types of ailments like minor diseases or life-threatening illnesses. The USP of the company is the pharmacy-aggregator business model wherein it sources generic drugs directly from the manufacturer and hands them over to the drug retailer who delivers medicines to the masses at cheap rates.
Generic Aadhar supports single-retail drug stores all over India. It provides medication directly from the WHO-GMP pharmaceuticals and has tied up with drug retailers from Mumbai, Pune, Bangalore, and Odisha in a profit-sharing model.
Generic Aadhaar – Business and Revenue Model
Generic Aadhaar follows a B2B2C model. It is appointing franchisees across India by aggregating single medical stores that are in bad shape due to the intense competition in the pharmaceutical segment. The company is passing on various benefits to the franchise owners.
Generic Aadhaar has introduced a business model that can support multi-disciplinary medications. The stores are equipped to sell all types of allopathy medicines. The company is actually complementing the Indian government’s effort of making affordable medicines available to everyone.
Generic Aadhaar | General Chemist
Generic Aadhaar’s franchising model helps in generating employment for the youth in India and also promotes entrepreneurship. While taking stock of the customer’s advantage, Generic Aadhaar ensures that small chemists and retailers earn the benefits of the business too. The medicines are given to the pharmacies at their manufacturing cost which is then sold to customers, thereby reducing the retail price up to 80 percent. The organization also collaborates with the manufacturers by increasing their supply as demand increases, thus manufacturing facilities, in turn, double their profits. Generic Aadhaar protects the interests of customers, retailers, and manufacturers alike.
Generic Aadhaar started this venture for helping and benefiting the people of India. Earlier there were very few targeted people but now, by word of mouth they are able to expand Generic Aadhaar outlets across India. Due to affordable medicines, they are growing and getting demands for their brand “Generic Aadhaar” as an identity in India.
They are not only aiming in their business growth but also, to be the best in providing Generic Medicines to every Indian through their venture. Most of the senior citizens who purchase generic medicines have cut their medical bills up to 50% with the same effect of Branded Medicines.
The biggest challenge for Arjun Deshpande, the founder of Generic Aadhaar, was to make people aware of generic medicines and build their trust in such medicines. Buyers were more inclined towards branded medicines that were quite expensive when compared to their generic counterparts.
Arjun Deshpande, the brain behind Generic Aadhaar, has several recognitions bestowed upon him.
At Asia’s Biggest Entrepreneurship Awards 2020, Arjun Deshpande was awarded “Young Entrepreneur of the Year” by Mrs. Madhuri Dixit Nene.
Young Achievers Award 2020 by Indian Achievers Forum India (IAFI).
Dynamic Entrepreneur of the Year 2020.
Indian Pharmaceutical Manufacturing Association felicitated him in the presence of the Chief Minister of Gujarat in 2019.
Being a young entrepreneur doesn’t mean he lacks experience; Arjun has always demonstrated his presence and abilities by sharing his journey infamous talk shows as a key-note speaker.
Generic Vs. Branded Medicine | Arjun Deshpande | TEDxDSCE
Generic Aadhaar is rapidly expanding the presence of its franchise outlets in India. The company wants to reach every corner and every Indian in the future coming years. Today they have extended to 130+cities across India, but later they are planning to reach every corner it may be not only tier-1 cities but also tier-3 cities and rural towns of India, where there is more requirement. They want to be the only brand that never fails to provide Medicines of Different segments in India.
Generic Aadhaar – FAQs
What are Generic Medicines?
A generic drug is a non-branded medicine that is cheaper as compared to the original branded drug. It has the same active pharmaceutical ingredient (API) but it costs 30-80% less compared to the original ones. It is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by patents. Generic drugs are allowed for sale after the patents on the original drugs expire.
Who is Arjun Deshpande?
Arjun Deshpande, a teenager and a founder of “Generic Aadhaar – the fastest growing pharma company”, managed to convince Ratan Tata to invest in his startup. He is the youngest entrepreneur of India in the pharmaceutical sector.
Why you should buy from Generic Aadhaar outlets?
The team at Generic Aadhaar works aggressively towards making the largest portfolio of quality generic and branded medicines available at its outlets, at prices up to 80% lower than their branded counterparts in Generic Medicines.
Why are Generic medicines cheap?
Generic medicines are cheaper because it doesn’t have to face the brand name and manufacturing cost. The drugmaker doesn’t have to undergo the invention or marketing cost as the chemical formula.
Are the medicines prescribed by doctors are Generic medicines?
In India, 80-85% of prescribed medicines are Generics. However, due to immense marketing by the pharma companies, the price benefit does not reach the patients and even the generic medicines are costing much higher.
Who introduced generic medicines in India?
The Government of India launched the Pradhan Mantri Bhartiya Janaushadhi Pariyojana in 2008, under which it would provide good-quality generic drugs at affordable prices. So far, it has opened 7,290 distribution centers around the country; there should be more.
Mahenoor Mansuri
