‘Crisis situation brings out the best in every individual'

The axiom ‘smile at the hour of crisis' is just not a maxim to console the troubled but to impart the deep meaning of how a crisis situation could bring out the best in every individual, according to Mr R Muthu, Chairman of Idhayam Edible Oil Ltd, Virudhunagar.

Addressing the management students of Dr N G P Institute of Technology, Coimbatore under the aegis of the Business Line club special lecture programme held recently Mr Muthu pointed out that obstacles are important aspects in business which the aspiring management students will have to unravel as they have often proved to have brought path breaking business successes to the entrepreneurs in the form of innovative products/services.

Citing his own experience as promoter of the branded ‘Idhayam' edible oil who had sought to break new grounds in marketing in most trying situation, Mr Muthu said close on the successful launch of ‘Idhayam' in Tamil Nadu in the 1980s he wanted to replicate the story in the neighbouring Karnataka and targeted a particular departmental store in Bangalore for seeding the market.

All his effort to sell his product to the Bangalore store owners initially coming to naught, Mr R Muthu hit upon the idea of offering half kilogram of ‘Idhayam' gingelly oil free each for customers buying goods worth of Rs 1,000 or more from the store for the first week of a month. He not only won the store as a long standing buyer of his products but scores of non-traditional customers in the new area because of the innovative marketing concept born out of a crisis situation. “In market place, if you go to buy, you are most welcome but if you want to sell you are not welcome. This way business is full of obstacles as it is in life,” he added.

Speaking on the occasion, Dr Thavamani D Palaniswamy, Secretary of the institute, said that willingness to change one's attitude and conviction within oneself about the change he aspired were critical for the management graduates to undertake a particular line of career as the path of success may not be straight always. Among those present on the occasion are Mr D. Rajkumar, Regional General Manager, The Hindu, Coimbatore, and Dr B. Subramani, Director, Department of Management Studies of the Institute.