Who said it’s getting murky at Merc?!

4Ps B&M: Do you believe that the increasing competition will pose a threat to your leadership position and especially are the aggressive launches by BMW a point of worry for you?
WA: For us, the important thing is to have a set of satisfied customers as it will be the only factor, which will drive sales & profitability going forward. If you look at India overall, we believe that we have a very good product portfolio and network density. We are currently investing Rs.150 crores in the network itself, both to increase its reach and to ensure that the Mercedes Benz retail experience is the best in the country.

4Ps B&M: When you talk about increasing the reach, are you referring to opening more dealerships in the Tier-II and Tier-III cities?
WA: The expansion will definitely happen in the Tier-II and Tier-III cities basically driven by two things, one is the overall situation of the city i.e. how many people are making what kind of money and how many cars are already on the road. These are some parameters that will determine where we will set up the shop next. The way we set up is in a very structured manner i.e. we will set up the service centre first, moving to sales and then slowly upgrading the sales & service experience to ensure that we give the best retail experience. If you look at the metros, we have new investments coming up there too. We are opening a new showroom in South Bombay, Gurgaon. In fact, by the first half of 2010 we will have 20+ new facilities across the country.

4Ps B&M: You also mentioned about upgrading your retail experience, what is that all about?
WA: This is an investment to upgrade our facilities for e.g. we are moving from a smaller facility to a relatively larger facility so that the consumer can savour more of the Mercedes brand.

4Ps B&M: Is it something like a boutique showroom, which BMW did recently?
WA: BMW is relatively new to the country and so are their investments. We are making all the possible efforts to ensure that Mercedes is not left behind. But I don’t think we will do a boutique showroom rather we will focus on opening significant showrooms, which will give an opportunity to the consumer to experience what Mercedes brand is all about and also experience our product portfolio.

4Ps B&M: But the per cent growth that BMW filed was almost double that of Mercedes in the last fiscal. Do you believe that it will pose a threat to your leadership position?
WA: That’s particularly because of the lower base that they have. If you look at the growth of Audi, it is currently three times to that of BMW.

4Ps B&M: Agreed but BMW again has a target of 3,000 units this year and if Mercedes does almost the same the company did in the first half (1500 units) don’t you think it will be a threat to your leadership position?
WA: For us the important thing is to have the right product and the right processes in the right year in front of the Indian consumer, which will drive both the sales and profitability going forward. We have a good position in the C & the S-class segment and we will roll out the E-class soon, which globally outsells competition.

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Source : IIPM Editorial, 2010.

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

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The BIG Man’s Holy Grail...

Behl is banking on BIG TV’s present Pay per View (PPV) bouquet to deliver. The DTH player has recently spiced up its PPV offerings with live shows, exclusive concerts, et al, while other players have stayed with mere movie content in the segment. BIG TV, in fact, was the first player in the industry to come up with a monthly subscription plan for movies in their PPV bouquet, enabling customers to view them anytime during that month as opposed to charging separately for each featured movie being offered in that month. “The response for our PPV services has been very encouraging,” agrees Behl, confident about the imminent success of their strategy. After all, as per estimates, India’s PPV segment is estimated to grow at 16% annually to log revenues of $11.3 billion by 2012. Behl is hoping for the segment to emerge as a key driver of the DTH business not only in India, but the whole of Asia. His hopes are not misplaced. Independent market research has shown that India will remain a leading PPV market in Asia with superior growth prospects in the near future.

“Over the next few years, Reliance BIG TV expects PPV to contribute nearly 10% of its revenues,” says Behl. No wonder, Behl is now also planning to introduce sports and events content in its PPV bouquet. Having already bagged the rights for the commemorative concert for Michel Jackson – ‘Live In Bucharest: The Dangerous Tour’ – the company is also in talks with other Indian and international content providers to offer more such content on their platform. Behl says that they are also looking at adding more meat to their overall content strategy. BIG TV is lining up a slew of interactive features and a major revamp of its filmed entertainment content, besides bringing in whole new range of channels, which were not available to Indian TV viewers in India till now. Rumour has it that BIG TV will be offering the entire FOX bouquet to its consumers shortly.

The other strategy that Behl is deploying to beat rivals in the segment has been drawn from his experience while working with HUL’s Vim brand almost a decade ago. “Consumer Insight is the key. While with HUL, I visited my rural consumers and even washed utensils in their homes to understand customer psyche,” he says, adding that he is planning to conduct a similar exercise at BIG TV to find out what more services could the viewers want and need. Besides, the focus is also on providing the latest technology (ahead of competitors) to consumers. With this in mind, BIG TV had launched DTH services on the MPEG 4 platform (while others like Dish TV and Tata Sky are still sticking with the MPEG 2 platform).

However, some of the enthusiasm at BIG TV has not really translated into action. At the time of launch only, BIG TV had announced that it would be coming out with a DVR based set top box that would allow consumers to record and pause live TV. But it’s almost a year now (and Tata Sky and Sun Direct have already launched the technology) and there has been no news from BIG TV of the same. Quiz Behl on that and he is prompt with his reply. “We will be offering it shortly. We are looking at providing more options to customers to choose from,” he says. The plan is also to price the DVR competitively for which BIG TV guys are currently exploring all options to offer modified DVR sets at a cheaper price. The strategy may actually stand Ambani junior’s DTH ambitions in good stead - and allow him to prove his prowess in yet another consumer-centric business.

As for Behl, the uphill journey has only just begun and requires a great deal of hard work. But then, his almost child-like passion for everything has already become the stuff of legends at ADAG. Sources who work closely with him never cease to sing paeans about his involvement with everything big and small. “Unlike other CEOs who delegate more, he worked round the clock during the BIG TV launch, rolling up his sleeves with the rest of us to ensure it went smoothly,” says a team member on conditions of anonymity. Added to his deep well of marketing expertise and seeking spirit about consumer insights, this focused approach is precisely what has endeared him to Anil Ambani. This BIG man is certainly turning out to be one big asset for the ADAG camp!

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Source : IIPM Editorial, 2010.

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

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BSNL resurrects…

mahindra holidays’ initial public offer (IPO) seems to have revived the moods of many. So much so that Bharat Sanchar Nigam Ltd. (BSNL) is once again planning to bring its $10 billion IPO to floor. BSNL had announced last year to come out with its IPO. However, BSNL’s ambitious plans were sidelined due to opposition from Left and worker and employee unions. The stock market meltdown also crashed BSNL’s hopes to go public. Following the victory of the UPA regime with an overwhelming majority has once again revived BSNL’s reveries as the state run telecom operator now hopes to get a nod from the newly formed government. And it is also hoping to negotiate with the employee unions to a good effect. As per Kuldeep Goyal, Chairman, BSNL, the company will start with the (employee) unions once it gets the green signal from the government. Sources close to developments suggest that the government is planning to sell 10% stake in BSNL to raise around $10 billion with a paid-up capital of Rs.50 billion. BSNL, which garnered revenues to the tune of Rs.450 billion in FY 2008-09, is preparing itself to step on the gas and go on a mega expansion spree. Goyal has confirmed that BSNL is not only looking for telecom licenses in African countries, but eyeing probable acquisition opportunities. Though BSNL already has cash balance of Rs.300 billion in its books for the expansion projects, materialisation of the IPO will definitely be very timely and help in raising funds for expansion. Also, with declining average revenue per user (ARPUs), BSNL is also contemplating to join hands with a strategic foreign partner. Not only will it improve the company’s valuations (pegged at $100 billion), but will also enahnce BSNL’s brand equity. BSNL today is a laggard in the burgeoning Indian telecom sphere and is in talks with foregin players like AT&T, who are waiting to enter the Indian market. BSNL, like any other PSU, has a conventional management with a traditional working style. Joining hands with a strategic foreign partner will change that perception and turn around its fortunes.

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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 a road less travelled

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They’ve just launched their premium hatchback Ritz. But deep within the Maruti Suzuki headquarters, the only discussion ruling the strategy war room is about the unexpected results that their new-found rural strategy has reaped. That, perhaps, is a key reason why they have suddenly decided to not withdraw the Maruti 800 from the market.
By Pawan Chabra

India’s largest auto behemoth, Maruti Suzuki has made a little known change in their marketing strategy. Last year, they set up a separate, well-oiled sales and marketing department for India’s hinterlands. Of the 15,000 sales executives working with Maruti Suzuki all over India today, almost 2500 are these newly-appointed Rural Dealership Sales Executives (RDSEs). Young, energetic and raring to make their individual mark on their corporate bosses sitting in New Delhi and elsewhere, these lads have managed to add up significant numbers to the overall sales figures of the company even in these tough times. So much so that sales in rural areas, which used to be around 3-4% of total sales till last year, are hovering close to 9% this fiscal.

Managing Director Shinzo Nakanishi cannot but help gloating. “We saw the slowdown hitting urban demand much before others did. So we immediately decided to expand our presence in the rural areas.” To say that the strategy has paid off will be an understatement. The decision made sense, especially as various estimates projected that only 19 out of every 1000 people in rural areas own a personal mode of transportation. Besides, even the availability of finance became difficult for urban customers due to a steep rise in interest rates. In contrast, customers do not normally depend on bank loans to buy cars in rural markets. No surprise then that Maruti Suzuki made a beeline for the high-growth hinterlands and surprised everybody with the booty they discovered, especially in Karnataka’s rural areas.

Apart from a strategic rural foray, the company also devised a planned approach to attract more corporate customers and from June last year, they also began specifically focusing on central government employees, relatively insulated from the downturn in the economy. What added to the appeal of central government babus and bankers as potential car buyers was the hefty arrears they had received, thanks to the recent 6th Pay Commission windfall. In the corporate segment too, Maruti has seen a growth of almost 60% plus in its sales. Another key strategy implemented late last year was to enhance the focus on PSU’s to finance cars.

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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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Kuch toh log kahenge, says Moto to the yuva...

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We all know that the handset market is ruled by Nokia, but 2006 saw the rise of Motorola in India. MotoFlip was their entry level vehicle and the beauty of this campaign was that it targeted the youth with the ‘looks expensive but costs less’ proposition. Was the campaign effective? Well, it certainly enhanced Motorola’s brand appeal and even market share rose from 9% to 13% that year. What’s more, ask Motorola and they’ll tell you that till date the sales of these entry level phones are going as strong!

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

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Does Creativity have an Expiry Date?

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Ogilvy’s hot-shot spoof champ (of Sprite fame) Ajay Gehlaut steps on the gas, straightaway. “It’s sad, but true that awe, respect and reverence for the grey-haired brigade is a thing of the past. In today’s world, speed with quality is the name of the game and youth appear to be hotter players in this space.” He points to a galaxy of young NCD’s, CD’s, even CEO’s (Prasoon Joshi) warming the hot-seat – something unthinkable two decades ago. “In this digital age, five years is considered decent experience. In the gaming scene, you have whiz kids at age 16! Its freaky, man! Information not wisdom is the new mantra.” Shyam Benegal, the iconic film-maker – who started out as a copywriter! – brings his brilliantly evolved spin to the table. “While all this energetic, excited, hi-octane stuff is true, one must realise that it is restricted only to the ad scene, which is only one narrow aspect of the creativity base/universe.” Benegal says that it is not a new thing at all. In earlier times too, youngsters defined the adbiz “and either you were kicked upstairs – or kicked out!” However, today out-of-the box and freak-out stuff seem to be the hot tickets and clearly the younger lot is much better at it than the oldies. Why? “Because as you grow older, maturity arrives and with it a sense of perspective, rationale and analysis – none of which really contributes to the free-for-all creativity demanded from today’s adland.” Structure, discipline, training have all evaporated into thin air. A very special, hallucinatory kind of mood and colour seems to be the flavour of the day, a willful suspension of disbelief stretched to the ultimate limit.” Chetan Verma, Corporate Communication Chief, PowerGrid, brings his informed views to the table. “I definitely think creativity comes with an expiry date and the reasons are simple. Never before has almost any product/service category enjoyed such huge youth-specific target groups and in this environment, thinking young [hence] is a must. Also, adaptability, flexibility and thinking-on-your-feet to hit the ground running are attributes that lend themselves much more to the younger lot than oldies. In a nano-second, consumer-driven world where tastes, beliefs, wants, needs and desires change at an alarming speed – frequent based on impulsiveness – no prizes for guessing which constituency can best track it - and crack it! Admittedly, there are spaces and segments that engage the older lot, but [everything considered] creativity and youngsters are indeed made-for-each-other.” Interestingly, the two kids who come on next, to wrap up the debate, beg to differ! Spiky, the hip-hop Creative Consultant at Leo Burnett, Mumbai, believes that age has nothing to do with creativity and cites the examples of M.F. Hussain, Piyush Pandey, Pops and Mohammed Khan, who remain icons. “Fads, fashions and trends admittedly are stuff beyond their bandwidth but there is an entire universe that need their specialised attention, skill and finesse. I think experience and maturity provides invaluable value-addition.” Shubhra Tandon, the young and attractive servicing dynamo – DraftFCB Ulka, Delhi – agrees totally. “I think, too much hoo-haa is made of this under-25 war-cry. Sure, its true, but c’mon yaar, there is life beyond the FMCG world!” A sharp head on young shoulders, Tandon believes that at the end of the day, advertising is neither about scoring brownie points, jargon-flashing nor a cold recitation of facts and figures. “Its about establishing a connect with life (and people) based on experience and human insight that are likely to touch, move (and therefore) convince more people to come around to their way of thinking”. A smart agency, she believes is one that has a blend of both. “Remember confluence – not conflict – is the most desired viagra in these recession-hit times!”

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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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Sony Bravia KLV-46W300A

IIPM Programme :- SUPERIOR COURSE CONTENTS

Technical Specification

Screen Size – 46 inch (117cms); Display resolution – 1920x1080p; Response time – 8ms; Dimensions (WxHxD) – 1120x782x307
PRICE: Rs.1,65,000
WARRANTY: 1 year

The Sony Bravia LCD truly reflects the best picture quality standards in its category. Takakiyo Fujita, GM-Marketing, Sony India says, “Sony’s 46 inch (117cm) W-series BRAVIA features BRAVIA Engine 2 which incorporates full digital signal processing technology in all high-quality image processes, thereby maximising the features of display devices and producing sharp, vibrant, life-like images.” It promises the advanced backlight module WCC-CCFL that gives the brightest picture with the improved advanced contrast enhancer and dynamic contrast of 33000:1. The three way high-definition multimedia interface gives you maximum pleasure as far as picture quality is concerned; and this little reason for post-purchase cognitive dissonance amongst its buyers. The USB allows you to gain easy access to the music players and other devices with PC connectivity. With a four-way surround sound feature, the high-quality sound plays a big role in marking the product’s success.

Marketers’ delight: Sony Bravia has arguably the best the picture quality and powerful sound systems amongst all 46 inch LCDs available in the market.

Tester’s note: Pros – Sharp picture. Excellent connectivity. Built-in photo viewer. Comprehensive video settings. Cons – Thin-sounding speakers. No backlight for remote control which makes it unfriendly.

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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 art of war...and losses!

Now IIPM's World-Class Education... for everybody!!

Toyota continues being hit despite expanding operations; the whys...

Let’s be honest! The double digit growth rate witnessed by the domestic auto market simply rocks. Between April-March 2007-08, 1,203,531 cars were sold in India and manufacturers are finding it hard to meet the unfathomable demands. As a consequence, competitors like Hyundai, Honda, and our protagonist Toyota Kirloskar too are all set to expand capacities in India.

According to market reports, Toyota will invest close to $340-360 million for a new plant near Bangalore, which is expected to have an annual capacity of 100,000 units, taking the total capacity of Toyota to nearly 150,000-160,000 units. Srinivas Krishnan of BS Motoring spoke to B&E, “Toyota wants to increase capacity simply because it wants to sell more cars here.” Ironically, Toyota continues suffering hits to their net earnings despite being operationally efficient.

Where is Toyota going wrong? With a vibrant automotive market, India offers a major opportunity towards future sustainability, but only through massive volumes; an area which Toyota has still not mastered. Toyota – which is already facing strong competition from rival Honda in the D segment, where the former’s Corolla has been a casualty at the hands of the latter’s Civic – is thankfully chalking out plans to launch a new small car in India, based on Toyota’s iQ concept. “Toyota is developing an all new small car for the Indian market,” says Krishnan. But the fact is that Honda, with its planned launch of the smashing small car Jazz, seems to have taken the lead here too. The answer to Toyota is quite simple – mass appeal cars! Or of course, learn Sun Tzu’s The Art of War...& Losses!

Karan Mehrishi

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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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To Bear or not to...

IIPM INTERNATIONAL - NEW DELHI, GURGAON & NOIDA

According to Nouriel Roubini, Professor of Economics, Stern School of Business & Chairman RGE Monitor, “The credit losses could reach to $1.7 trillion as corporate losses piles up.” With more than 45 of the world’s biggest banks, including Citigroup Inc., UBS AG, Wachovia & Northern Rock reporting a combined $232 billion in asset write-downs and credit losses since the beginning of 2007; the estimates arrived at by the likes of Roubini seem to be more than obvious. For the yet uninitiated (surely there aren’t many of those!), the world’s largest bank Citigroup is in talks to sell $12 billion worth of loans at a loss as part of an effort to shrink its balance sheet, while UBS AG’s share price has plummeted in the recent months after it reported a loss of $18 billion in US subprime crisis.

Is the ghost of 1929 returning to haunt the US? Going by the recent developments in the US it is quite certain that be it Clinton, McCain or Obama, the new American president will be elected against the backdrop of a shrinking economy and on assuming the reins of power corridors, will face months of economic malaise. In all probability, the credit crisis scenario in the US will initially only worsen before improving.

When the leaders of the Federal Reserve Board and the government met on the weekend of March 14-16, they were panicked and fearful of a financial meltdown. A day back, on March 13, 2008; the fifth largest investment bank of US, Bear Stearns, citing reasons of intensified financial constraints, had advised the Federal Reserve and other government agencies that its liquidity position had significantly deteriorated and it would have to file for bankruptcy the next day unless alternative sources of funds were made available. As a part of the conclave, JP Morgan Chase turned out to be the dominating player negotiating and demanding big time collateral and guarantees to buy out Bear Stearns and alleviate the fears of Wall Street. According to risk guru Nassim Nicholas Taleb, “Banking is a very treacherous business, because you don’t realise it is risky until it is too late. It is like calm water that delivers huge storms.” It is ironical that Bear Stearns, regarded as one of the most prestigious on the Wall Street, would become the biggest victim of the credit crunch that has roiled the market since last August, and be acquired for a pittance. Barely a year ago, their shares traded at $159 and JP Morgan Chase left no stone unturned to bring the financial giant to its fold at just $2 a share (share prices were later raised to $10 a share).

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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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SALIM-SULAIMAN - brothers in harmony

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Hum Tum, Fanaa, Dhoom, Dhoom II, Krrissh, Namaste London, Chak De! India… Besides being among the biggest hits of the past two years, these movies have also had some lovely music and each of these films owe their chart-topping numbers to the duo Salim-Sulaiman. Salim Merchant and Sulaiman Merchant started out with commercials, moved on to composing for Indi-pop albums like that of Shweta Shetty, and began composing background scores for movies around the mid 90s. They first came into notice when they composed music for the movie Hamesha, but it was with Ram Gopal Varma’s Bhoot that they truly made it big. Since the past three-four years, almost every big banner production has picked Salim and Sulaiman to compose the background scores of their movies.

Salim and Sulaiman have been raking in awards at the annual award functions too. From Filmfare Awards to IIFA Awards to Star Screen Awards, their talent has been recognised and rewarded by all. The duo is tremendously optimistic about their future and that of Bollywood. “Right now, Bollywood is at its peak. We (the industry) really are doing world class music,” said Salim. Revealing their plans for the future, Salim said, “We are also talking to a lot of people in US for independent American films.”

“We want to start a music school in India, which would concentrate on western classical music. There are a lot of classes and gurus from gharanas, who train you in Indian classical stuff, but a western classical school where a teacher teaches you the violin, is what’s missing and is what we want to get into. We have some string players and orchestra players but we think that 10 years later we won’t have any string players. Western classical music is a big part of our Indian music industry. We need orchestra players in our country. It’s our dream and vision to leave behind something for the industry that has given us so much,” said Salim.

For such dreams and for melodies that can inspire more to dream, Salim-Sulaiman are brothers we’re placing our bets on for the coming years.

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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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Can Pakistan’s weapons fall into the wrong hands? By saurabh shahi, shahid hussain and mayank singh

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It’s an issue that grabs the mainstream headlines at regular intervals. It’s also a debate where, depending on the existing situation, the importance of supportive or critical voices of nations, diplomats and experts keeps fluctuating wildly. Recently, when two Pakistani nuclear scientists were ‘kidnapped’ near the country’s north-western border with Afghanistan, several Indian experts thought that the duo had actually ‘defected’ to terrorist group, Al Qaeda, to offer their services to build a nuclear weapon.

These believers in ‘rogue nukes’ pointed out that similar incidents had happened in the past. “Pakistan’s top nuclear scientists, Sultan Bashiruddin Mahmood and Chaudhry Abdul Majeed, met Al Qaeda members on two occasions in 2000 and 2001, and shared sensitive nuclear secrets. As far as the kidnapping of two scientists is concerned, I don’t say that they are going to join hands with the terrorists. But it has happened once, and I am not sure that it’s not going to happen again,” says Reshmi Kazi, Associate Fellow, Institute for Defence Studies and Analysis in India.

Adds Brig. Gurmeet Kanwal (retd.), Director, Centre for Land Warfare Studies, “Three Pakistani nuclear scientists were arrested and handed over to the US intelligence agencies in 2001. Two of them were senior scientists, who had set up an NGO, Ummah Tameer-e-Nau, after their retirement, and its membership comprised nuclear scientists and military officers known to have close links with Taliban, former Afghanistan’s conservative-religious regime, which gave a safe haven to Al Qaeda’s Osama bin Laden.

In India, such conclusions gain credence, especially when advisors like M.K. Narayanan, National Security Advisor, espouse similar sentiments. A month ago, without naming Pakistan, he said that “credible reports suggest that the region has been both a source and destination for proliferation of weapons of mass destruction material and equipment, a situation that is a cause for concern. A great threat to stability from nuclear weapons in the hands of volatile states cannot be discounted.”

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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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Maddening déjà vu

IIPM : EXECUTIVE EDUCATION

Mr. Chidambaram faces stark choices all over again

As Dalal Street – along with many other streets from Tokyo to New York – started behaving like a new jet aircraft whose pilot has lost control, one couldn’t but help wondering about the days in mid 1990s when the C. R. Bhansali scam had put paid to the hopes raised by Mr. P. Chidambaram as Finance Minister. The stock market scam then was also associated with two things. First, it was tantalisingly close to and linked with the East Asian melt down of 1997. Second, elections were in the horizon and Mr. Chidambaram threw fiscal caution to the winds by announcing huge Fifth Pay Commission hikes for government servants. Back then, the US economy was still not as profligate a borrower as it is today. Nor were China, Russia, Iran and Venezuela swimming in dollars.

It is 2008 now and there is a strong sense of déjà vu. Stock markets around the world – particularly in Asia – have been tumbling like nine pins on fears of a recession in the US economy. India is no exception except the fact that the economy and Dalal Street are far more integrated with global financial markets than they were in 1997. It will probably be a matter of time before the latest Indian stock market scam is unveiled. Mr. Chidambaram is the Finance Minister who has been often dreaming about dream budgets. General Elections are not too far away. The Sixth Pay Commission has already submitted most of its recommendations for pay hikes for bureaucrats. So don’t be surprised if Mr. Chidambaram surrenders to UPA realpolitik and one of his colleagues announces a huge pay hike for government servants – without a single word on administrative reforms recommended by successive pay commissions.

As it happened after 1997, there are huge chances that Mr. Chidambaram may not remain the Finance Minister because his government will probably be voted out. But once again, his successor will have to struggle with the havoc that has been created by tumbling markets, panicking economies and ‘no comment’ finance ministers who pay more attention to electoral compulsions than their own convictions. Who said history doesn’t repeat itself again and again?

Sutanu Guru

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

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King fissure or Dare Deccan?

IIPM : EXECUTIVE EDUCATION

Kingfisher’s takeover and proposed merger with Deccan raises questions...

Just a few handful of days after Vijay Mallya announced that Kingfisher would merge with Air Deccan, came the announcement of Mallya’s 46% stake ownership in Air Deccan going up to 50% through a block 4% purchase on Indian stock exchanges. But really, despite all the pricing advantages that the acquisition of Air Deccan provides to Kingfisher, B&E tells you why this merger makes little logic!

But even before understanding the ramifications, one has to clearly differentiate between an acquisition and a merger! Acquisition simply means the purchase of shares of one company (Air Deccan in this case) by another (Kingfisher Radio, a Vijay Mallya company). Both companies remain separate legal entities despite the acquisition. A merger, on the other hand, means that the two companies cease to exist separately, and are seen in legal terms as one new company (with perhaps different brand names within the new entity). Given this, Mallya’s issues are as follows:

Legal issues:

It’s akin to the difference between a live-in relationship and a marriage. Till the time the two companies remained separate, any financial exigencies of Air Deccan remained legally isolated within that airline itself. But now, Kingfisher – and in turn the UB Group – would become lawfully liable to pay for all such financial demands that Air Deccan might have to pay. Given the bloodbath already present within the industry, such a merger move seems highly questionable, when an acquisition was already giving the best of both worlds to Kingfisher, which takes us to our second point... Financial issues:

Gopinath had commented previously to us, “We’re aiming for profitability by 2008 and will achieve it!” Well, with a combined accumulated loss touching an outrageously scandalous Rs.20 billion (Rs.9.923 billion for FY’ 07 alone), this merger seems to have put paid to those plans too!

Branding issues:

Once the merger comes through and Air Deccan becomes a Kingfisher division (rather than a different company), the highly benchmarked Kingfisher brand could be crucified on the altar of consumer perception. A fear much real now as there have been confirmed reports of Air Deccan passengers who, after their flights have got cancelled, were given tickets on Kingfisher. With horror tales all abound about LCC flights being cancelled at the drop of the hat, Kingfisher’s pristine brand value is bound to start falling alarmingly if consumers cannot differentiate between the two brands in the coming months.

Operational dis-synergy: One logic of the merger could have been that after the merger, Vijay Mallya, without being questioned by shareholders, could have easily utilised all the capacity of Air Deccan – from pilots (which Kingfisher requires by loads), to maintenance infrastructure, to parking bays, to airplanes themselves! Though Vijay Mallya has mentioned that there would be one management team for both airlines, with a Wall Street Journal publication now reporting that Captain Gopinath has confirmed both airlines would be kept operationally separate, even this concept of synergy falls down!

Shareholder value decimation:

This factor is the most important for any CEO. It was perceived that the merger announcement could reduce the Kingfisher share worth, but would necessarily improve Air Deccan’s share value as shareholders would feel their brand image is being catapulted into the big league. Let’s see what really happened! Well, on December 18, 2007, Air Deccan’s share was trading at around Rs.316. With the news of the merger, Deccan’s share price plunged by almost 15% in a single trading session; and continues to languish! By the last closing of trade on December 26, 2007, Deccan Aviation had already lost a huge Rs.5.7 billion in stock value on the bourses!

The positives:

Still, it’s not the end of the world yet. In fact, just based on the acquisition (and not because of the merger), there are huge pluses. Already, the combine has emerged as the largest domestic carrier in the country with 570 daily flights, connecting 69 destinations across the country, a feet they’re managing with a smashing fleet of 78 aircrafts! That’s larger than that of even Indian, the government airline, which has 74 aircrafts! With the largest combined market share in India (around 32%: DGCA data), the kind of quasi-monopoly pricing the combine could demand might be enough to change the profit equation within a period of three years. Of course, with Kingfisher’s 106 new Airbuses (including 5 superjumbo A380s) and Air Deccan’s 54 A320s scheduled for delivery over the next 5-7 years, infrastructure support (including parking bays) could prove to be quite a major stumbling block.

Clearly, the acquisition of Air Deccan notwithstanding, the subsequent proposition of merger seems to be made with less positioning and financial standing. Well, when we asked Gopinath about the similarities he sees with Mallya, he divulged, “Our interests and lifestyles are ‘totally different’! We sometimes get together and enjoy each other’s company, but that’s it...” Well Sir, we hope you both continue ‘living-in’ this relationship rather than jumping into marriage! They say marriage lasts seven lives...

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

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Retailing brand India

IIPM : EXECUTIVE EDUCATION

Meeting the Western challenge head-on and exporting brand India abroad

Perhaps the toughest and most daunting challenge that any minister faces in India is the man who runs the Union commerce and industry ministry. Kamal Nath has to ensure that the relentless rise of the rupee against the dollar doesn’t lead to a slow down or even a reversal in export growth. With the INR continuing its unprecedented appreciation, exporters are already crying hoarse about lost orders and the sceptre of millions of jobs being lost. Nath also has to lead the Indian delegation when the First World and the Third World sit together again in 2008 to break the deadlock that has stalled WTO negotiations. In 2007, his pugnacious remarks on the double standards practised by the developed nations have been quite controversial. Clearly, Washington and Geneva are terribly fond of the man. Then again, the minister has to somehow ensure that his two pet projects within the country – SEZs and FDI in organised retail do not get stalled by activists and the Left. In between, he has to find time to play a key role in the Assembly elections that are due soon in his home state Madhya Pradesh. A formidable agenda indeed.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

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Private schools...

IIPM’s 36th Glorious Year of Academic Excellence

...can provide ‘Education for all’

Henry Fielding once said, “Public schools are the nurseries of all vice and immorality” … the statement is of assistance in slapping the claims of the reverential policy makers who vouch for public schools.

The United Nations promised “education for all” in the Millennium Developmental Goal (MDG) by 2015. Beats the wit out of anyone that how on Earth will it be possible with only 25% of all schools in Ghana being government schools, 34% of such schools in Lagos state of Nigeria and only 35% such schools in slum area of Hyderabad and equally contemptible percentage of government schools in other underdeveloped countries! So does that mean that the UN MDG is wearing that confident look only because it banks on the private schools? Private schools might charge more fees, but that again is only because they deliver quality. And why are private schools subjected to such badmouthing, anyway when even the not-so-well-to-do families choose private schools over government schools? Seriously, the umpteenth claims of “education for all” which try and promote public schools do not hold any water … because education in true sense owes gratitude to private schools only.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

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The Godrej Gameplan

IIPM’s 36th Glorious Year of Academic Excellence

The yesteryears locksmiths have made a huge effort to shake the rust off their staid brand image... Will the ‘Preity’ magic work for them?

The name that once was an indomitable leader of the Indian white goods industry – Godrej & Boyce – is making an effort to come back into the reckoning. The makeover may have been kicked off post the dawn of the new millennium, but recently these activities have been renewed with a fresh vigour. Even the mother brand, after its logo change (which from the monotone red, is now vibrant and colourful) denotes that Godrej is no longer satisfied with just being a trustworthy brand, instead being contemporary and hi-tech is the new mantra.

The new-look Godrej is a welcome relief from the Godrej of yesteryears. The dull TVCs then were supported more by technical details of products than anything else. Remember the PUF ads, where a sturdy man (dressed like Spiderman) used to describe the technical details of Godrej refrigerators to the Indian junta. “The guiding principal for all Godrej communication has been to stay away from gimmicks that would mislead the consumer,” affirms Priyanka Udeshi, Design AVP and Client Service Director, JWT. She adds that innovations and technology were always stated up front and all claims made in the commercials were backed by research. The strategy, at that time, enabled Godrej & Boyce to create an edge against other desi players (like Allwyn and Kelvinator) and helped the consumer goods major to dominate the market. However, with the entry of the Korean chaebols in the late 1990’s, Godrej’s empire was shaken up. Outshined by the slick ads of foreign players, brand Godrej started to loose its sheen. Even senior officials from Godrej & Boyce accept that they had lacked in promotion and branding activities as compared to the new foreign entrants in the market. But no more! “We felt that the time has come to reposition and change our branding strategy. The bid was to showcase the stylish side of the brand and connecting it to generation next,” reminisces Kamal Nandi, VP-Sales & marketing, Appliance Division, Godrej & Boyce.

Hence begun the process of rejuvenating the brand, as reflected in recent ads. The company began with roping in a brand ambassador for the first time (the ‘bubbly’ Preity Zinta), and followed it up by unleashing a series of ads that showed the colourful side of the brand. “Preity’s association with the brand has been well thought in terms of brand fit and hence has been re-validated time and again,” elaborates Priyanka. More recently in 2006 – Godrej launched the Eon range as its imagery driver, keeping in mind the shifting purchase parameters and lifestyle trends of the Indian youth. Preity has been the face of this brand extension too.

And it’s not only via advertising that Godrej plans to remain relevant to today’s customer. In order to move with the times, last year, Godrej Eon launched the widest variety of colours in its product range. This year too, the Godrej camp plans similar innovative offerings. Explains Priyanka, “A recent example is the launch of the new Godrej Edge refrigerators that deliver fastest ice making, coupled with five star energy ratings,” adding that the range is all set to be advertised in a product centric fashion.

Godrej may be reinvigorated and looking to give a tough fight to rivals that dare to cross its path, but hey, while Godrej has been planning and plotting its comeback and stylish makeover, competition has not been sitting idle either.

Angshuman Paul

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

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

Read these article :-
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