HITTING THE RIGHT CHORD...

Even as Indian two-wheeler makers like TVS Motors and Bajaj Auto were registering falling sales month after month during the last financial year, Hero Honda was busy strengthening its base in the Indian market. The slowdown period has been the most lucrative one for the company. It even crossed the landmark of selling 25 million units (cumulative) in the last fiscal taking its market leadership to around 57% (60% currently). Moreover, Hero Honda’s bottom-line grew by 33% to Rs.12.8 billion during the financial year. But how did they manage it, when the whole industry was struggling, is definitely a big question.

Well, a right product at a right time is the trick that has clicked. In addition Hero Honda has also utilised the last fiscal to get closer to consumers. The company has built an extensive network of over 3,500 touch-points across the country, selling and servicing its two-wheelers. The company’s rural initiatives too have played a role in strengthening its presence in Tier-II & Tier-III markets, which contribute almost 40% of total sales. Explains Pawan Munjal, MD, Hero Honda, “An unprecedented share of 57% in the domestic market, when the industry has been witnessing a slowdown, is reflective of the strong fundamentals.”

Though auto experts like Murad Ali Baig say that “Hero Honda as a company is known for its continuity and stable approach,” they also accept that when it comes to the premium segment Bajaj Auto rules the roost. And that’s not baseless either. While Hero Honda sold about 185,000 units in the segment during the last fiscal, Bajaj sold 840,000 units. But then, the pace at which Hero Honda is catching up is noteworthy. What is more inspiring is its strong association with the youth and its effective campaigns in the rural markets. However, as Bajaj Auto plans to stage a big show in the executive segment, the days ahead may soon throw up more challenges for Hero Honda.

Pawan Chabra

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Fighting fat, but at what cost?

Stomach stapling might show results on the surface but it might be more than what you’ve bargained for...

The urge to lose weight, at any cost but hard work, has led surgeons to find out newer ways to cut fat. One of the popular ways is stomach stapling (or gastric bypass), a restrictive technique where the stomach is divided into two parts using a band and staples. The smaller part, the stomach pouch, is an egg-sized pouch that has very little capacity to hold food and therefore, leads to meager eating. A one-centimeter hole runs from the bottom of the pouch through which the contents flow into the other part of the stomach and from there to the intestines.

It takes a lot of guts to play with one’s natural system, and only when one is grossly overweight (Diego Maradona, the football legend, opted for the surgery when he weighed 121 kgs) or if a person is suffering from a compulsive eating disorder, would a person normally get their stomach stapled. But recent research at Sahlgrenska University Hospital in Sweden says that women who get their stomachs stapled reduce the risk of cancer by around 40 per cent. Experts are only astounded and confused to find no such benefit for men… But men can be happy since a stomach staple does add at least 10 more years to one’s life span. But, what about the side-effects of getting your stomach stapled? Well, considering cancer is a deadly disease and obesity leads to several other deadly ailments, one would think that the perks of stomach stapling would outweigh the side effects of the procedure used… not all the time though! It has been seen that ‘more than one-third of obese patients who have gastric surgery develop gallstones. Nearly one in three develops nutritional deficiencies. Patients could also be at risk for anemia, osteoporosis and metabolic bone disease.’ Though diet supplements can help, it’s best to avoid these side-effects.

Another method for losing weight that is being resorted to more commonly is cosmetic surgery (tummy tucks, body lifting etc.) since the treatment is only external. “We are dealing with the skin and mostly its structure, and at the most, you will have a scar which is hidden by the cosmetic surgeon in a way that it’s not obvious and heals really well too,” informs Dr. Ashish Davalbhakta, Cosmetologist at Aesthetics India. Though he talks of specific risks to be understood, he offers a different suggestion for the young who aspire to become a Jessica Alba or a Tara Reid the easy way. “I would tell them that their expectations are too high and they are more likely to be disappointed. One should aspire to be fit with exercise and a proper diet.”

The researches and conclusions in favour of gastric or cosmetic surgeries are not to highlight the possibility of losing weight this way but to, once again, draw attention to the power individuals have in altering their own risk factors. Resorting to these quick surgeries to get rid of the fat that can easily be tackled with is quite a bad idea. In fact, a recent Canadian research says that people who are a little above the normal weight actually live longer than those with normal weight. Not to mention that the underweight or the obese have much shorter life spans! Well, then, may be, it’s time to redefine the benchmark of normal weight...

Swati Hora

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Who made your trip this time?

Detail of all IIPM branches

MakeMyTrip had a first mover advantage. As competition intensified, so did their focus on service and delivery... Respondents give them maximum marks for ‘corporate packages.’
By Pawan Chabra

She makes it her business to make everyone’s leisure trip hassle-free; but her own life is surprisingly devoid of any leisurely moments. Jaya Talwar, Senior Executive-Escalation, MakeMyTrip, starts her day at 5:30 am and by the time she gets to her office in the sprawling NCR suburb of Gurgaon, she’s already organised her (seemingly endless) list of things-to-do for the day. But then, she has no complaints, having happily sacrificed her love for cooking to the hurly burly of professional life. Talwar is part of the escalation team that takes care of customer queries and complaints and understands the importance of service in the online travel industry. She starts off her day at office by scanning the previous day’s e-mails, followed by daily meetings. The rest of her day goes into fixing customer problems. A Miranda House graduate, she started her career with the company as an executive in the post-sales department. And now after three and a half years in the travel outfit, she takes immense pride in being a part of the popular online travel portal.

The industry may have been on the back foot after the Mumbai terror attacks and more importantly under the slowdown blues, but industry watchers expect it to be just a short blip just before online travel makes a strong comeback. MakeMyTrip, for one, plans to deal with these ‘short-term hurdles’ by sprucing up their service even more and offering them a great hassle-free experience. “You need to value the importance of a commitment in this industry otherwise there is no way you can reach at the top,” asserts Talwar from her experience. Ask the end users and most consider the ease with which the company’s website can be navigated as the backbone of its success. But Talwar believes that the particular art of following up with the customers to ensure a great service is also a vital pillar for MakeMyTrip’s success. No wonder, she believes, that her department is the most vital part of the organisation’s success!


But doesn’t she get bored handling similar kind of customer queries and problems everyday? Well, her answer is (yes, you guessed it right), a resounding “No!” Says Talwar, “As you have to deal with a new kind of consumer on a daily basis, there is no monotony in the job.” Instead, she says, that she enjoys these daily challenges, apart from the little moments of life and laughter they provide her. She narrates one such incident, while guffawing loudly, “A customer once sent a very long e–mail complaining about the bad service, but when we tried to sort it out we figured that it was actually for one of our competitors.” She claims the complaint ratio to be only 0.5% out of the total customers attended by the company. But if you think that this 0.5% is easy to deal with, you better give it a second thought. Talwar recalls an incident where it took four long hours to make a customer understand that he was at fault when he was trying to cancel a booking for a hotel on a very short notice and asking for a refund. The customer was notified earlier of the company’s ‘no refund on cancellation’ clause, she adds.

Talwar spends most of her day dealing with such customers, but her primary concern is to ensure a delightful experience to every customer she handles. After all, in her industry, the cost of getting a new consumer is 10 times higher than retaining an older one. No wonder then the priority is to retain every customer at all cost. “When Kingfisher and Air Deccan merged, the new airline changed its PNR no. No customer was able to get the refund from the airlines in case of cancellation. MakeMyTrip had to give the refund to consumers from its own pockets to ensure that they remain satisfied with our service,” recollects Talwar. But try as you might, there is always room for improvement in the service industry. Queries and complaints are a part of their life. Well, the next time you are dissatisfied with a service in their bouquet, at least you know who to contact :-)

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Stains & Silver Effies: hand in hand

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Brand : Surf Excel
Agency: Lowe

For Surf Excel,‘reverse psychology’ helped change the perception of stains. The campagin ‘excel’led in making the tiny-tots speak for the brand which pulled through the consumer’s psyche and made Surf Excel the market leader.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).


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K. V. SRIDHAR, NCD, LEO BURNETT

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1. Hutch’s network ad featuring the pug
2. Mentos’ ‘Dimag ki batti jala de’ campaign
3. Thums Up’s ‘Taste the thunder’ campaign, which was launched in 2007 featuring Akshay Kumar and was shot in Australia
4.Bingo!’s campaign
5. ‘What an idea, sirjee!’ campaign

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).


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Get ready to......Play Footsie!

IIPM Alumni Officially on Facebook

The problem accentuates when you take into account the huge brand and portfolio stretch by the company in recent times. In its 13 year India stint, Reebok has increased its annual turnover by an impressive 500% by continually enriching its portfolio. “If you are opening your own retail stores, it’s necessary that you offer as many options as possible,” says Prem. Nike, Puma and Adidas are also bearing the brunt of expanded portfolios, which includes footwear, apparel & accessories for the female consumer too. Their over-optimism touched new heights when many of them announced their foray into the Rs.130 billion kids prêt-a-porter market too. Clearly, an enhanced portfolio portends an even greater sourcing problem, for the already beleaguered players.

However, some like Bata are optimistic about their supply chain. Bata India has strategic alliances with several suppliers and the company boasts of consistently exploring options that enhance the availability of these suppliers. Anything goes, including emotive cajoling and carrots of comparatively higher margins than rivals. Says Marcelo Villagran, MD & CEO of Bata India Ltd., “Our partnership with many suppliers has been standing for more than a decade and we have always paid them according to the changing market,” he says. This is not to say that Bata India has not invested in its own manufacturing hub. But Villagran is confident of being able to “bank on his suppliers” for any contingency that comes up.

Sourcing is one area where Nike India boasts an edge. Despite playing second fiddle to rival Reebok in India in the sportswear category, the shoe-maker from Uncle Sam’s country has understood the importance of establishing a sturdy sourcing hub. Nike has consolidated its sourcing base to 70-90 fixed vendors from seven countries, including Bangladesh (where the slowdown hasn’t affected the manufacturing industry much).

These vendors are further connected to Nike through five exclusive dedicated agents. The $18.6 billion company is also gung-ho on ground activation activities, deploying over 70% of its marketing expenditure toward BTL promotions for sports like athletics, football and tennis. Besides, having ignored cricket for years, Nike (albeit belatedly) has recognised India’s undying fetish for the gentleman’s game and is batting hard to lure the consumer with cricket accessories (in its stores) and advertising campaigns.

To its disadvantage, Nike is not the only sportswear brand banking on cricket. Reebok has been doing it for years. Avers Rajiv Mehta, MD of Puma India, “Focus on several sports might help globally, but in India the competitive edge in sports only comes from cricket.” Puma recently announced its association with defending champions Rajasthan Royals as the official sponsor of their uniforms during IPL 09’.

Ravdeep Singh, CEO, Planet Sports, imparts some words of wisdom: “Right now, the core focus should be on the rising real estate and raw material costs.” Singh too is feeling the slowdown heat. “We are compromising with 25% of our margins,” he says, adding that although raising prices would have been an option in normal course to decrease pressure on margins, it would be suicidal in a slowdown.

Clearly, trouble is brewing! Their over-optimism may be well-warranted, yet global players in the footwear fray are a decidedly worried lot today. Brands that manage the slowdown today, without mortgaging the future, will be the eventual winners. Whether or not it was meant for them, yet to ‘Keep Walking’ is their only solution in sight!

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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DIVIDE AND RULE!

IIPM : One of the leading and most respected business schools

“I think we have a good opportunity to bring refreshment to the category and delight the customers,” avers Gurdeep Singh, Chief Operating Officer, Aircel. After all the company believes in ‘divide and rule’! In fact, this refreshment plan from Aircel comprises of offerings identifying distinguishable group of customers and designing specialised services catering to a specific target group. “The rationale behind this move is that in the recent past we have seen a slew of service operators launching their services and almost all of them have been pegging it on the price factor, which is a very ‘me-too’ kind of strategy,” reasons Singh.

Certainly, the underlying idea is to touch all target groups, but in a manner that is unique and apt for that particular group. For instance, while recently it added Delhi in its operational chart, the company realised that of the total population making use of mobile phones in the city, most of them are students or immigrants from other parts of the country in search of employment opportunities. So, to address the needs of students and immigrants, they have come out with separate tariff plans that would be relevant to these groups. In fact, Aircel has been applying this approach in almost every circle that it operates in. But then, there are many who feel that this is just a start up communication, while delivery will be a different thing altogether.

No doubt, it’s surely a novel way to lure customers and has already started turning heads, yet it would not be easy for Aircel to convert these raised brows into customers. Raison d’être: Markets like Delhi and Mumbai already have seven to eight players (RCOM too is present in both CDMA and GSM) fighting for a share in the pie that already boasts of a whopping 90-95% penetration level (almost saturated, wouldn’t you say!). In such a scenario, it would become difficult even for Aircel, with its differentiated approach, to actually persuade customers to switch their existing number or carry two cell phones. But the good news is that when we look at the bigger picture and see India as a whole, we find that the telecom penetration in the country currently stands at a meager 30%, which means a huge untapped market still waiting to be ruled. Moreover, the mobile number portability, which is expected to be implemented by early 2010, would give Aircel and others of its ilk a plenty of opportunity to really churn out some big bucks.

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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On second thought, it really hurts!

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Touted as the world’s cheapest car, Tata Nano aims to cater to the desires of the audience, who lack the financial support to own a highly priced four wheeler. Apart from forcing other carmakers to re-visit their business strategies, Nano has already started hurting the business prospects of the second hand car (currently standing over a million units) dealers like Maruti’s True Value, M&M’s First Choice et al. The adverse impact is visible even before Nano has hit the Indian road, as players of the used car market have been forced to slash their price rates by 30% in the Delhi-NCR region. The prevailing economic condition notwithstanding, consumers are holding back their precious pennies and thus Nano becomes an apt choice for the cash strapped buyers. However, Ravi Subramannian, AGM (Sales), Maruti Suzuki True Value differs, “The launch of Nano will hardly impact our business prospects, for the prospective car buyers would rather believe in purchasing a second hand high-end model rather than going for a never-tested-before vehicle.” N. Wadhwa, MD, SKI Capital Limited disagrees with Subramannian, “Used cars raise a lot of doubts in the mind of the buyers. Thus people would prefer buying a new car available at a lower rate rather than going for a second hand car.” Moreover, small cars form nearly 70% of the second-hand cars sold in the country; thus Nano is more likely to cut a hole in the pockets of second hand car dealers. But the future business dynamics of Nano having a larger share of the market pie and further hurting the second hand car dealers would depend on the success or failure after it goes through the buyers’ litmus test once it is launched.

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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BASEL BEVEL... ...the next move

The Most Revolutionary Concept In Education PLANMAN CHE CENTRE FOR HIGHER EDUCATION, Supported by IIPM India’s Leading B-School

As the cut-off date for implementing the Basel II Accord draws closer, Indian banks are gearing up fast to be at par with their international peers. Are they on track? 4Ps B&M’s Manish k Pandey finds the answer...

“If Basel I could be compared with an old bi-plane, then Basel II represents an advanced jet, designed to transport its passengers in utmost comfort irrespective of the turbulence and extremes of weather outside,” says a White Paper on Basel II by PricewaterhouseCoopers (PwC). Certainly, considering the rewards of the accord that include introduction of new complex financial products, improvement in risk management system, availability of a range of options for estimating regulatory capital, et al, in the Indian banking arena, the statement by PwC, no doubt, marks out the real future of banking in India or rather banking across the globe. But what really confuses and haunts one is this perplexed transition – from the age-old bi-plane to a shimmering advanced jet.

Will it be a smooth one? Are the players ready for it? These are certainly some of the questions that need apposite answers as Indian banks enter the final lag of this transition matrix. No doubt, as the cut-off date for implementing the accord draws closer, Indian banks are gearing up fast to be at par with their international peers. But are they really on track considering that it’s just a month (April 1, 2009) before the new jet finally takes off? “Yes, the implementation is on track for Indian banks, within the context of the relaxation that the RBI has implemented in light of the ongoing crisis, such as reduction in risk weights. Majority of the banks are not facing any capital shortage at present and those public sector banks (PSBs) that need capital infusion, have already been promised the same by the government,” avers Vaibhav Agrawal, Sr. Research Analyst, Angel Broking. No doubt, so far, most of the banks are comfortably placed even after switching on to the Basel II accord in FY 2008. Though some of them have reported a reduction in the total capital to risk-weighted assets ratio (CRAR) or commonly known as capital adequacy ratio (CAR – the ratio of a banks capital to its assets) by around 30 to 80 basis points, primarily on account of operational risk, there are many who have reported a capital relief. All thanks to higher exposure to better rated corporates as well as savings on the regulatory retail portfolio.

In fact, if one goes by the latest numbers, the Indian banks already seem to have conquered this long row to hoe. According to a recent report on “Trends and Progress of Banking in India 2007-08” by the RBI, “the overall capital adequacy of all scheduled commercial banks (SCBs) was at 13% as on March 31, 2008, well above the Basel II norm of 8% and the stipulated norm of 9% for banks in India. Even on an individual bank basis, the CAR of as many as 56 banks was over 12%, of 21 banks was between 10-12%, while those of the remaining two banks was between 9% and 10%.” This is indeed comparable with most of the banks in emerging markets and developed economies where CAR varied between 10% and 28.7% in FY 2008.

However, if one goes by the desired level of CAR by the government, which is 12%, the situation seems to be a little tense for as many as 14 commercial banks (11 public sector banks and 3 private sector banks). In fact, a combined capital infusion in excess of Rs.50 billion is what is needed to shove them up to that level. No doubt, banks can use the capital market route to meet the capital requirements or can use private placement to garner the additional capital but then turning to capital markets to raise funds at a time when the markets are bleeding and investors are wary of planting money into them the option really doesn’t seem to be viable at all, particularly for the small and medium sized banks.

But, overall, out of 41 banks that migrated to Basel II Accord last March, 40 banks had CAR of more than 10% and one bank had close to 10% even at the time of transition. So considering this, no doubt the Indian banks are faring well as of now, but then going deeper into the Basel II matrix, one can easily figure out that the matrix is not just about CAR. The framework has three components or ‘Pillars’. While Pillar one relates to minimum capital requirements, Pillar two is the supervisory review process (SRP) and Pillar three is all about market discipline. Moreover, it is Pillar 2 that makes the Basel II Accord more comprehensive as it aims at eying the overall risk of an institution. But if one goes by Moody’s latest report on Indian Banking then the stress surely seems to be testing Indian banks. As per the report, while financial strength rating (BFSR) of most of the Indian banks was between C- and D+, baseline credit assessment (BCA) rating too ranged between Ba1 and Baa3.

Therefore, as it’s said by many critics that “fundamental to the successful implementation of the Basel II norms is an inconvenient but necessary marriage of two of unmatched horoscopes – qualitative tools and quantitative standards,” the task of implementing the accord surely appears to be a tough one for the Indian banks. In fact, this was the main reason for the delay in implementing Basel II Accord in the country (originally set for March 31, 2007). Though foreign banks and Indian banks with overseas presence have already incorporated Basel II Accord with effect from March 31, 2008, its full execution still remains a major challenge for them – all in terms of procedures, infrastructure requirement and capacity building.

Moreover, considering the technological advances and greater reliance on technology-based solutions by conventional Indian banks, a need for adequate safeguards against fraudulent activities automatically pops in and, this is an area where the Indian banks need to work the most in order to stand equal to their international peers. No doubt, the asset quality of banks in India has improved significantly in the recent years, efforts need to be made to ensure that the hard earned gains are not frittered away, particularly in the wake of the global slowdown. Further, for banks, the implementation of Basel II Capital Accord will certainly continue to be a challenge until the regulator acts as a facilitator rather than as any gregarious procrastinator. So, just watch out for the next move!

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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How about making moolah the rice, atta and daal way?

The Most Revolutionary Concept In Education PLANMAN CHE CENTRE FOR HIGHER EDUCATION, Supported by IIPM India’s Leading B-School

With stock markets running out of gas, and equity becoming a property too hot – or cold – to handle, investors might see better prospect in commodity trading

When the stock markets the world over are biting dust, everyone is looking for a cover. And most of them are landing up buying gold and gilt-edged securities. No doubt, these two are the safest bets at the moment, but then they are just wealth preservers. So why not try something that can also offer you some return. Well, in this regard have you ever considered commodities? It’s true that many investors are still apprehensive in their attitude towards the commodity market, but then many others have joined the bandwagon for it’s not too different from trading in the equity market. And this is quite obvious from the fact that total monthly turnover of Multi-Commodity Exchange has almost doubled from Rs.2.1 trillion in January 2007 to Rs.4.1 trillion in January 2009.

Noted investment banker Jim Rogers tells us, “In the future, investing in commodities would be the most lucrative bet.” Reflecting this sentiment, 2008 has been a fairly good year for people who had invested in the market as commodities were the only thing moving up. However, the outlook for 2009 does not seem to be on the lines of 2008, especially if one is expecting to hedge their risks or are expecting similar returns. Arvind Bansal, Chief Investment Officer, ING Investment Management, informs 4PsB&M, “From a valuation and a price correction perspective, there has been a sharp correction in the commodity market like in real estate and equity.” The profits of various organisations have nose-dived, which has led to decreased production levels and in turn, a decline in the supply of these commodities. Therefore, much of the concepts in this market ride on how the ever illogical demand curve takes shape. With various governments trying all they can to revive the state of economy, it is expected that the demand for commodities would start to look up in the near future; and most analysts are pegging that the period post May-June might see some of the developing economies showing positive trends which would marginally shoot up the demand for commodities.

Though according to Amar Singh, the head of research at Angel Commodities, “For the year 2009, bullion will be the best bet.” Joseph Massey, CEO, MCX, accepts, “The most traded products on our exchange have been bullion, which continues to be a favourite.” But then, one must not forget agro products like sugar that yielded a good return for their investors in 2008. At the same time, investors also must be selective in picking up the commodities and become futuristic. Because living on past favourites can be deadly for them in the commodities market. Crude, perhaps, is the best example in this regard at the moment.

Having said all that, and more, allow us to sweetly warn you, whatever we write out here and in the other pages can come to nought, for though we may be smarter than what we think, the money is still yours honey.

Surbhi Chawla

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The great brand brawl

IIPM set to beat economic slowdown

Attack advertisement is the latest muse for the corporates but the success boils down to consumer satisfaction and avoidance of the regulatory scanner

Ouch! That must have hurt. It surely does, when the opponent hits you ‘below the belt’. And the blows are getting increasingly fast and furious. The trend is invariably visible with a number of global marketers openly declaring war by taking a direct pick on their arch rivals through attack advertisements or in polite terms comparative advertisements.

This ‘Smack Down’ of brands has become an all-out battle amongst some of the world’s top brands. From the Pepsi challenge to the endless knockout rounds between Dunkin’ Donuts vs. Starbucks, McDonalds vs. Starbucks, Dominos vs. Subway, Mac Guy vs. PC Guy (Apple vs Microsoft) et al, the strategy has found a number of followers. This current marketing strategy is far from the traditional concept of promotion and marketing where companies highlight the benefits that a consumer would derive from usage of their products or services. The concept of attack advertisement rather has the players using the negative mechanism and splashes out the misgivings of their competitor’s goods and services, thus trying to convince the target audience of their relative superiority.

The Dunkin’ Donuts attack commercial against Starbucks is an apt epitome of the aforesaid statement; the former tells the consumers that more ‘hard-working’ people prefer their coffee than the high-priced ‘elitist’ coffee of the latter. “Our marketing approach evolves based on what resonates with customers and is not driven by another company’s advertising campaign. We believe what truly differentiates us from our competitors is the daily, human connection between customers and store partners,” avers unscathed Wendy Pang, Communication Manager, Starbucks Coffee, to 4Ps B&M, taking the entire fiasco as a pinch of salt. The coffee brewer has become the punching bag for Dunkin’ Donuts and McDonalds of late. It’s always easier to point out some of the failings of a competitor but clearly it’s always about establishing a point of difference. “It’s going to come more from those sectors which are being impacted by the economical downturn such as auto, electronics and parts of FMCG; nevertheless, the downturn is not the main driver of the concept but because it is persuasive, the players are using attack advertisements,” explain Stephen Byrne Director, DIFFUSION Global brand strategist and commentator.

Attack or comparative advertising does work to an extent, as it definitely draws a number of eyeballs. But then everything finally boils down to meeting the promises made and the quality of products or services delivered, leading to consumer satisfaction. “The Mac vs. PC guy has been very successful for Apple; look at the evidence from new Apple computer sales into corporate markets to see how it’s changed how people think, but more of it is due to the quality product and the after sales service deliverance,” supports Byrne.

However, the tendency to mislead consumers generally creeps into this kind of strategy. So companies should be wary of the fact that watchdogs like courts and consumer protection bodies are looking very closely at the way advertisers and brand owners use this advertising. For the punch they deliver definitely hurts, no matter which side of the belt it lands!

Ratan Lal Bhagat

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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YOU CAN CALL HIM THE ‘AXE’L BEHIND OBAMA!

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ARCHITECT OF MODERN POLITICAL ADVERTISING, DAVID AXELROD IS THE MAN CREDITED FOR OBAMA’S LARGER-THAN-LIFE IMAGE BUILD-UP

“If there’s anyone out there who still doubts that America is a place where all things are possible... tonight’s your answer.” As Barack Obama spoke these words on November 4, at the Grant Park in Chicago, Illinois, he crafted a notable moment in the history of the United States of America by becoming the first Afro-American President of the world’s most powerful country. The race was not easy for this man with a Muslim middle name. But what made his amazing feat possible were some perfect modern strategies devised by Obama’s long time friend turned Chief Strategist – David Axelrod. Having designed Obama’s campaign for the US Senate Elections in 2004, Axelrod’s camera had followed Obama like a sheep ever since, capturing all his public appearances. When Obama decided to contest for the Presidency, Axelrod was the first guy he hired for his team of strategists. With all the Axelrod accumulated footage, Obama’s first campaign was devised – a five-minute Internet video. “Throughout campaigning, Axelrod focused on Barack’s bio and people liked it,” says Rahm Emanuel, an Illinois Democrat. Axelrod’s personality-led strategy sold Brand Obama as an agent of change for the American people.

On the one hand, Axelrod focussed on building Obama’s image as a devoted family man, and on the other, as a well-read, confident leader. To win over racial prejudices, Axelrod roped in Paul Simon (an enterprising retired US Senator and a respected figure) to endorse Obama. But as luck would’ve had it, Simon died before the campaign shoot. Axelrod then convinced Simon’s daughter to appear in the commercial declaring that her father and Obama were “cut from the same cloth.” Axelrod also convinced Obama not to accept public finance for campaigning to avoid giving details of expenditure to the Election Commissioner. Obama raised close to $30 million in January alone and his total donations stood at $280,011,968 as on Oct. 15, 2008. Other approaches included community involvement, mobile marketing, product promotions, et al. Axelrod made Obama immensely popular with the youth by signing him up on social networking sites like Facebook, YouTube, MySpace, et al. “This enabled Obama to connect with all demographics of voters,” adds Emanuel.

As President-elect, while Obama will take on the task of getting the economy back on track; as his Senior Advisor, Axelrod will continue to polish his image in these turbulent times. As Obama said in his winning speech, “It’s been a long time coming, but tonight… at this defining moment, change has come to America.” God knows, that country needs it and how!

Savreen Gadhoke

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Source : IIPM Editorial, 2009

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The final ball...

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After having immodestly discussed events and people, let us talk about a company’s excellent performance for a change during times when the nation was counting goosebumps on its (sweaty?) forehead due to the ongoing slowdown. Yes, Hindustan Unilever Limited (HUL) has repoted four straight quarters of amazing growth, averaging 19%. In fact during the last two quarter results (with average net sales growth of 20%) were positively electrifying for HUL, and perhaps the best in over a decade! Tushar Bhattacharya, Sr. FMCG Analyst, FICCI comments, “Interestingly, the substantive price increases did not disturb the sales of HUL as most of their brands have a strong brand proposition, because of which the consumer doesn’t mind spending more.” While explaining HUL’s rosy 2008 performance, Harish Manwani, Chairman, HUL states, “We have sustained volume growth in a high inflationary environment and offset the cost management…”

Even when the world was stuck in a sandstorm, for HUL, the year gone by looked simply ‘Fair’ & ‘Lovely’. So much for Super Six #6. Truly, ‘what a ‘great’ year bygone, was 2008!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Motor insurance gets a makeover!

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Fed up of those nasty problems that your car gives you everyday & that too all of a sudden? Then here comes a good news for you! First party motor insurance is all set to undergo major changes in India. The insurers are now planning to come up with policies that will offer another vehicle for the period for which the insuree’s vehicle is unavailable, for instance, getting repaired. Even, if the car is not replaced, the insuree will receive allowance to recoup the rental of hiring a car during that period. Insurers in mature markets like US and UK are already offering such policies. Now with IRDA allowing it in India, almost all the major insurers have started working on it. IRDA has also allowed a waiver of depreciation.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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The Jet-Kingfisher ‘deal’ has re-ignited the debate on how poor regulation leads to cartels and collusion at the cost of the consumer. By Aditi Prasad

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True! But the problems for these two players are largely self-imposed. Both Mallya and Goyal already knew the existing fuel policy of the government, yet they expanded faster than ever and expensively acquired rival airlines, Deccan and Sahara respectively. Route rationalisation was far from Mallya’s mind when he was busy re-painting Deccan’s planes with his Kingfisher red. Had he rationalised routes then, things would have never reached such a passé. Moreover, to stem their monetary bleeding, the two airlines could have as easily looked at other ways to raise capital (like selling their stake) instead of this hurriedly stitched alliance. “They are too clever to sell stake when valuations are low. Also, high interest rates are dissuading them from borrowing. So the only way out was to get together, reduce competition and eventually charge a premium from consumers,” points out management consultant Avinash Narula.

Section 10 of the MRTP Act, 1969, prohibits cartelisation in any industry and says it is a restrictive trade practice as it imposes an unjustified burden on consumers. So although belatedly, but the MRTPC woke up from its deep slumber and on October 17 ordered a probe into the Jet-Kingfisher tie-up. Yet, by the time, the commission submits its report (they are supposed to do so in 60 days, but we know our bureaucrats better) and suggests action; the two airlines would have possibly ridden over the present storm, with adequate customer money in their airbags.

Incidentally, last June, Google and Yahoo! had entered into a somewhat similar alliance globally. The alliance said that Google (with 80% share of the paid-search market) would supply Yahoo! (20% share) with search ads to supplement Yahoo!’s. Yahoo! would get a new source of revenue, while Google would get a new customer for its ad delivery service. But before the ‘deal’ could see the light of the day, antitrust regulators in the US got in the way, fearing that the deal may create a monopoly and lead to illegal price fixing.

The search giants’ lawyers may eventually win over antitrust hurdles, but unlike the Jet-Kingfisher ‘alliance’, at least someone took notice before the deal was signed and put a spanner in their works until further review!

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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It’s a catch-22 situation. Sales are falling and increasing ad spend seems to be the way forward for brands.

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Madison Avenue and Wall Street in juxtaposition may appear to be an oxymoron, but in the recent past they have turned into a cynosure for the world’s eyes. The graveyard of fallen American financial brands stands in silent testimony to the reverberating shockwaves emanating from the Wall Street, making their stark presence felt across Madison Avenue. Even as words like recession, bankruptcy and bailouts hog newsprint and the war between Citi and Wells Fargo for ownership of Wachovia continues, the US advertising Goliaths have begun to reel under their impact. The initial hiccups began no sooner than the House of Representatives rejected the bailout package (worth $700 billion). Both Dow Jones and the AdMarket crashed simultaneously. If the former plummeted by 778 points (largest single day decline in history), the latter also had its biggest crash ever - an unmitigated 6.4%.

For the uninitiated, a lot is at stake for Madison Avenue. Advertising elasticity is being put to the toughest test. The top 10 advertisers in the US may have combined spent a humongous $8, 4427 millions (H1 2008) on advertising, yet it marks a 3% decrease from last year. The picture becomes more worrisome when you compare ad spends of the top 50 companies in America, which have already declined by 4.7%. Don’t blame it solely on the September debacle; after all, the stirrings of the mayhem had already begun in March (remember Bear Stearns).

In a year marked by failures of behemoths, bailouts, acquisitions, credit crunch et al, corporates have cut back their advertising and marketing expenditure for the already over-saturated market. Data from TNS Media Intelligence reveals that the total measured advertising expenditure in the first six months of 2008 has declined by 1.6% as compared to the same period in 2007, while Nielsen Monitor Plus puts the drop at 1.4%.

Ford Motor’s comparative advertising expenditure is a classic case; it has cut its advertising budget from $798 million (H12007) to $554 million (H12008), a drop of 30.56%. Even General Motors – grappling with unsustainable losses – now plans to cut its digital media budget. In fact, the ad spending in real terms has come down by 11.2% in the entire automobile category. The rational for the cuts are obvious. Ed Yardeni, President & Chief Investment Strategist, Yardeni.com believes that the would-be buyers simply can’t get auto loans needed to make their purchases. “At 12.5 million units (saar) during September, monthly car and light-truck sales were the worst since April 1992, with both Toyota and Ford posting sales declines of more than 30% from a year ago,” he says, adding that auto sales peaked at 20.6mu (saar) during July 2005, and are now down 40% since then. Clearly, and if advertising spends cannot justify sales (revenues), it is but logical to put a cap on the outgoings.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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“Technology certainly adds knowledge to retail”

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How important is technology for the retail market?
Technology evolves with the need. And market caters to the need of the people. Retail market is constantly improvising itself & becoming more efficient. Technology is one of the most important tools in management and execution of retailing. In fact, technology helps in research and analysis and finally results in adding knowledge to retail.

Where do you see more technology being used in future and why?
Technology helps in reducing the cost involved in operations, optimising the functioning of the system and helps in monitoring, reporting and delivery in the day to day operations. Technology requirements differ significantly in rural areas. Limitations of telecommunications network, ill equipped P.O.S., severe power problems and ill trained manpower creates a much larger role for technology in rural areas. Retailers in urban areas of the country look for error free & smooth operations, and trust tested technologies in the industry.

Where does technology play a vital role in the retail industry, back-end or front-end?
Technology in the retail industry at the back-end comprises of robust database, intelligent tools (software applications) and dependable communication channels. Front-end requires comprehensive user-friendly interface. Advancement in IT/telecom technologies brings a lot of scope of corrections and improvement. Back-end technology gives more room to play and is always vital to the entire operation.

How do you see the future of technology in retail?
The blend of communication and IT is going to play a larger role in the near future. In fact, the future of technology in retail industry would lie in developing modular, compatible and scalable technology on rapidly changing platforms and protocols. This will help the industry to reach new heights.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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WHEN KING KONG MET REAL FOOTBALL

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Mauj and Hungama are top-of-mind recall when one mentions mobile gaming in India. But a global player is swiftly preparing its ground, says Savreen Gadhoke

King Kong, Real Football, Midnight Pool, Ferrari World, New York Nights… the names mean a lot to all mobile gaming aficionados, who swear by the game’s time-pass value during boring college lectures, dull office meetings and sometimes even at the cost of their beauty sleep (when the ego trip is all about beating your own score!).

Fact is, mobile gaming has emerged as the latest blockbuster on the entertainment bandwagon, scoring high on the back of the growing wireless subscriber base in the country. Gartner predicts that the mobile gaming industry in India is projected to touch the $450 million mark by 2012 and while revenues from the same stood at $80 million in 2007, the same exceeded expectations over the next few years.

So from being a default application in most handsets, mobile gaming has evolved as an important source of revenues for telecom service providers, handsets manufacturers & publishers too. Encashing on this frenzy are various Indian companies like Hungama Mobile, Mauj Telecom, et al. But global players are not far behind. The $140 million European mobile game publisher Gameloft, which set its foot on Indian soil in 2005, is confident that they would be able to make their dent in the market... and soon!

Headquartered in Paris, Gameloft is already the numero uno mobile gaming company in Europe, number two in the US market and growing at an impressive rate of 40% (in 2007). Gameloft published six of the 18 games in Nokia N-Gage. Over the last three years, Gameloft has concentrated on acquiring channel partners and today has brands like Airtel, Vodafone and Reliance in its kitty. Now, top honchos at this gaming company are gung-ho about the iPhone launch in India, as they are sure it will kickstart an altogether new phase of growth for them. In an interaction with 4Ps B&M, Ravi Kumar, Country Manager (India), Gameloft, reveals the importance of Indian market in its growth strategy.

How important is the Indian market for Gameloft?
India will be a very significant market for Gameloft in the years to come because the volume that we are expecting out of the Indian market is huge. Currently there are 250 million subscribers and the number is expected to go up to 500 million by 2011. So we can expect at least 250 million mobile games downloads. We are probably the only company in game publishing industry, which publishes games for as many as 800 handsets, which means we try to adapt our games to both high-end as well as entry-level models.

Is your gaming content developed in India only?
For the content of the game, we’ve different studios across the world. We have 4,000 people, 90% of which are into content development. We’ve studios in US, France, Japan, China, India, etc. We back our technical capability with technological resources to support. One studio alone does not take the responsibility of creating a game because development of a game is divided into different stages. Depending upon the stage and work allocations, the global production team decides.

But you’ve India-centric games?
We primarily have games for the global audiences. But if you consider cricket game as an Indian game, then we do have India centric games. ‘Prince of Persia’ was also very popular in the Indian market but that was not specifically an Indian game. But we do have a game called ‘Vijay Singh Golf 3D’. Even our games ‘Real Football 2007’ & 2008 did extremely well in India.

You already have a formidable reputation globally. Comment.
Gameloft has a lot of credibility in the International market. We are clearly number one and PG.biz Quality Index survey done by Pocket Gamer (mobile game review website) has ranked Gameloft as leader in terms of quality. We are number one in sales too. Both qualitatively & quantitatively we are clearly ahead. We have a lot of ideas for iPod & iPhone and we expect a transition in the mobile gaming business with the launch of iPhone in India, because it has a lot of applications like the touchscreen, which fit very well with the new taste in gaming. We have adapted our games to the iPhone too and are ready to develop more games.

But when you talk of Mobile Gaming in India, Gameloft is not top-of-mind recall?
Well, we first wanted to have our sales partnerships in place and only then go about tom-tomming our brand in India. Now that we have those partnerships in place and are confident about our line-up, we will do the brand building exercise. Since our units are in place, you will see the Gameloft brand picking up in India.

What are the critical challenges that Gameloft faces in India?
If India wants to grow its mobile game industry, wireless carriers will have to take a leaf from Japanese business practices. Higher revenue sharing with game developers, according priority to developers instead of aggregators, allowing developers to host their own page on carrier’s portal are some of the key challenges. When developers host their own page, they have better control on what to sell and how to sell, eventually translating into more sales. Unfortunately in India, aggregators are calling the shots & pulling down creative quotient of the industry.

How does Gameloft plan to establish itself in the Indian market?
We want to grow into a trusted brand. There is lot of uncertainty when a customer downloads a mobile game. We try to ensure that all our games match the quality expectation of consumers. We want to build a relation with Indian consumers where they feel that purchasing from Gameloft is sure-shot gateway to international quality experience in mobile gaming. We would like to grow our distribution channels, and work with carriers like Reliance & BSNL too.

How do you visualise the mobile gaming industry in the coming two years in India?
The government and TRAI want that operators work more on the VAS side because telecom players get a good margin from these services. In APAC region, a 45% yoy growth is expected in video games across formats including mobile games. Number of telecom players is increasing by the day and keeping in mind the demographic shift that is happening; mobile gaming has a good bright future in India.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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