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Why Scale Works for Mondelez—and Fails for Coal
The Weekend Playlist
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India is full of things that look like success from a distance.
Coal stocks are high—yet power plants still import fuel.
Brands are everywhere—yet only a few earn real, repeat affection.
This edition looks at two stories that sit on opposite ends of the economy but ask the same question: what does scale really mean? One examines why India’s coal “surplus” is more illusion than security. The other looks at how Mondelez built enduring brands by solving the hard, unglamorous problems beneath the surface.
Together, they remind us that abundance on paper is easy. Making it work is not.
SPECIAL EDITION
Inside the Machine That Built Cadbury, Oreo, Silk, & More
Govindraj Ethiraj in conversation with Nitin Saini of Mondelez India
In a country where glucose and Marie ruled, Mondelez arrived with a provocation:
What if snacks weren’t just fuel—but feeling?
In this Core Report Special Edition, Govindraj Ethiraj speaks with Nitin Saini, VP - Marketing at Mondelez India, about how the company went beyond chocolates to build a portfolio of blockbuster brands—and the strategy behind sustaining category love.
Key ideas that stand out
Oreo didn’t compete. It redefined the segment
Instead of fighting on price with legacy cream biscuits, Oreo premiumised the category—through texture, ritual (“twist, lick, dunk”), and global cool.From Cadbury to Mondelez: a strategic reset
The shift wasn’t cosmetic. It meant thinking beyond chocolate to build a multi-category snacking company—biscuits, beverages, candy, and impulse-led consumption.Chocolate became modern meetha
Campaigns for Cadbury Dairy Milk didn’t just sell chocolate—they reframed cultural behavior. Celebration moved from laddoos to chocolate bars, without asking for permission.Premiumisation is not elitism—it’s demand
Products like Silk and dark chocolate aren’t niche indulgences anymore. They reflect rising consumer confidence, experimentation, and willingness to trade up.Quick commerce is rewriting impulse
When snacks arrive in 10 minutes, consumption moments multiply. Marketing now has to sync with logistics, not just media plans.Gen Z is reshaping the playbook
They want variety, texture, global flavors, and everyday consumption—not once-a-year treats. Brands must move faster, test more, and listen harder.
Bottom line
Before you watch this conversation, pause for one question:
What’s the Indian brand campaign you still remember years later—and why did it stick?
Keep that answer in mind as you listen.
Because it explains more about brand building in India than most decks ever will.
THE CORE QUIZ
Which AI startup’s product launch triggered a global software stock selloff? |
HOW INDIA’S ECONOMY WORKS
Why India is drowning in coal—and still importing it?
Puja Mehra in conversation with economist Subhomoy Bhattacharjee
The Illusion of Abundance
Coal stocks are high, but much of it is stranded—stuck far from where electricity is generated.
Surplus on paper masks logistical and economic failures, not real energy security.
Why Indian Coal Doesn’t Reach Indian Plants
Rail freight costs make domestic coal expensive by the time it arrives.
Plants and mines are poorly aligned geographically—an old planning failure that still hurts.
Transport, not mining, is the real bottleneck.
Why Imported Coal Still Wins
Imported coal is often better quality, burns more efficiently, and arrives by sea closer to coastal plants.
Even at higher global prices, it can be cheaper overall than domestic coal hauled cross-country.
The Future: Coal Isn’t Going Anywhere
Coal use hasn’t peaked—AI, data centres, and electrification are pushing demand up.
Nuclear is discussed, but coal remains the backbone of India’s grid for the foreseeable future.
BOTTOM LINE:
India’s coal surplus isn’t a triumph—it’s a warning. Until infrastructure, pricing, and planning catch up, the country will keep importing what it already has.
TAX & TARIFFS SERIES
The last week has seen two major economic developments, first the Union Budget 2026 and second, the announcement of a trade deal between India and the United States. The Budget has already laid the ground for what could be a tectonic shift in trade and tariff alignments. The changes that are now proposed in the India-US deal could kick in much faster than usual which in turn could have a profound impact on businesses, large and small.
Join us for Tax and Tariffs, a post budget briefing where we deep dive into the Union Budget 2026 and the landmark India - US trade deal, examine the intersecting points and the near term outlook for enterprises, the economy and financial markets. Also interact with our panel of direct and indirect tax veterans as well as industry and macro economy experts
By invitation only. Limited seats.
MESSAGE FROM OUR SPONSOR
The best marketing ideas come from marketers who live it.
That’s what this newsletter delivers.
The Marketing Millennials is a look inside what’s working right now for other marketers. No theory. No fluff. Just real insights and ideas you can actually use—from marketers who’ve been there, done that, and are sharing the playbook.
Every newsletter is written by Daniel Murray, a marketer obsessed with what goes into great marketing. Expect fresh takes, hot topics, and the kind of stuff you’ll want to steal for your next campaign.
Because marketing shouldn’t feel like guesswork. And you shouldn’t have to dig for the good stuff.
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