Keeping with its global ambition, homegrown farm equipment-to-software group Mahindra & Mahindra said it will embark on a new brand positioning to project a singular voice for various entities under its umbrella.
The group, which has decided to use 'Rise' as the new brand position, said it will be spending Rs 120 crore (Rs 1.2 billion) in the next three years towards promoting the new initiative.
"For Mahindra, 'Rise' means achieving world class standards in everything we do, setting new benchmarks of excellence and conquering tough global markets," M&M Vice- Chairman and Managing Director Anand Mahindra said in a statement.
The idea behind the move is "to communicate with one brand voice, one face and one 'Mahindra' core purpose", M&M said.
The $ 7.1-billion group had hired New York-based advertising agency StrawberryFrog two years ago to create the new brand positioning.
Explaining reasons for choosing the word 'Rise', M&M Executive Vice-President Corporate Strategy, Ruzbeh Irani said the group had spoken to its customers across the world and they expressed a common optimism about future and shared a common desire to rise, to succeed and create
"We strongly believe that the Mahindra brand epitomises what our customers want - a company that empowers them to 'Rise'," he added.
Besides being in the bracket of top tractor makers in the world, M&M has a full range in the automotive sector from two wheelers, SUVs to electric vehicles.
In the IT sector, it had expanded when Tech Mahindra acquired Satyam Computer Services, which is now known as Mahindra Satyam.
It had forayed into the aerospace segment in 2009 when it acquired up 75.1 per cent stake each in Australia's Gippsland Aeronautics and Aerostaff Australia for Rs 175-crore (Rs 1.75 billion) to make aircraft and allied components to service the global market.
Last year, the group's automotive division had signed definitive agreement with Ssangyong Motor Company Limited (SYMC) to acquire 70 per cent stake in the ailing South Korean auto maker at a total cost of $ 463 million (about Rs 2,105 crore).