Financial Daily from THE HINDU group of publications
Tuesday, Dec 13, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 13, 2005 |
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Marketing
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Customer Relationship Management Industry & Economy - Education `Bet on quality, marketing innovation' R.Y. Narayanan
Coimbatore , Dec. 12 DEDICATION and sincerity in serving customers are important for a manufacturer to retain customer loyalty, Mr V.R. Muthu, CEO, Idhayam group, a manufacturer of edible oil in Tamil Nadu, has said. Mr Muthu made a strong pitch for quality and innovation in marketing, as these are key drivers of growth. He was inaugurating the Business Line Club at the School of Management of Sri Krishna College of Engineering and Technology (SKCET) here. Mr Muthu said in the US, a customer is hailed as a VIP, in Japan he is treated like a king. But in India, the customer is equated to God. He said manufacturers were expected to supply their customers the best quality products. He drew attention to the remark of Mr Rensma, President of Philips India, who stated that if the quality of a product is good, the customers come back, otherwise the goods would come back. The Idhayam CEO said it was for the manufacturer to decide who should come back — customers or goods. Mr Muthu referred to the multiplexes in Mumbai drawing huge crowds despite charging Rs 225 per ticket even while, in many other areas, theatres were closing down due to poor patronage. Some multiplexes have made cinema viewing a pleasurable experience by providing comfortable seating. This meant that customers would pay any price for quality, value addition and innovation. Recalling the observation of the late management guru, Mr Peter Drucker, Mr Muthu said the most basic elements in business are marketing and innovation. He said unless manufacturers seek out to expand, companies would not grow. He talked of how Mavelli Tiffin Room, a restaurant in Bangalore, had become an internationally known name after it entered the ready-to-eat business under the MTR brand name. Promoters should not insist on their heirs taking over the reins of their companies but should look for professionals to run the business operations. Later, in an interactive session with students, he recalled the strategy adopted by him in 1997-98 to penetrate the Bangalore market by supplying 500 ml packs of Idhayam gingelly oil free of cost to customers of a departmental store who made purchases of over Rs 500. In fact, Idhayam adopted this strategy even in London to win over customers. "Beautiful ideas" are born out of challenges, he said. Dr S. Subramanian, Principal, SKCET, said the Business Line Club would enable students to interact with corporate heads with greater frequency. Prof Richard Regis, Deputy Director, School of Management; Prof A.G.V. Narayanan of SKCET; Mr T.S.Raman, Regional General Manager, The Hindu, Coimbatore; and Mr D. Rajkumar, Deputy Regional Manager, The Hindu, Coimbatore, were among those present.
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