IIPM DELH INDUSTRY VISIT, HINDWARE

IIPM: What is E-PAT?

Hindware is a renowned company in India and a visit to such an organizations really gives the student an opportunity to understand management from very close quartes. IIPM students were taken on a visit to Hindware and it was a great learning experience for the group. Students learnt a lot about the products of the company including sanitary accessories, tiles, kitchen appliances and faucets. Students were able to observe closely the manufacturing processes and the efforts to keep quality in check. They also understood the issues of raw material sourcing and inventory management. Students got to see how by simply boiling calcium sulphate and using mud moulds, one could create such beautiful products.

The Manager at the Plant took time out to share in-depth details on the processes and answered the questions. The entire visit was truly a knowledge able one.

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Kowtow to the Master

Prof Rajita Chaudhuri follow some off-beat trends like organizing make up sessions

He's made martial arts more celluloid friendly and fun than anyone else before him. it perhaps stems from the amalgamation of his rigorous training in the performing arts as well as martial arts. jackie chan, the cheeky and lovable action star, talks about his upcoming remake of the 80s hit film, 'the karate kid' which also stars jaden smith

What appealed to you about playing Mr Han in 'The Karate Kid'?

I can relate to the character of Mr Han because I have had many mentors in my life. My master at my school was one of the biggest influences on me, but there have also been many others who have shaped my life and my career. Mr Han is a complex person who has experienced much trauma in his life. He doesn't want to let anyone into his world, but Jaden's character forces him to come out of his shell. Mr Han isn't just a character in this film ' he is a combination of many people I have known in my life.

What advice did you give to Jaden Smith?

When it comes to stunt choreography, I have a lot of advice to give. On the set, I showed him how he could make his moves stronger and more powerful. I shared many stories of hardship from my life with him. I constantly reminded him that he should always appreciate all that he has because so many others in China have so little.

How good an actor is he? Does he remind you of his parents (Will Smith and Jada Pinkett Smith)?

He's really versatile. He can be funny and dramatic all within minutes. I think he is a natural actor. He always sounds sincere and real. Everything that comes out of his mouth sounds authentic. He's respectful, talented, hard working and charming, just like his parents.

What's the most important lesson that Mr Han teaches Dre (Jaden Smith)?

Mr Han teaches Dre that you have to respect those you love, believe in yourself and face the challenges in your life.

Who was the best teacher that you ever had ' who was your Mr Han figure?

My master was my Mr Han figure. He was the only master I had for ten years of my life. In his school, I learned how to fight with my body and weapons. I learned to sing and dance. I also learned how to do my own hair and make-up. My master was not as patient as Mr Han. He used all forms of punishment to get his point across. Have you seen the earlier films, including the original 'Karate Kid' from 1984? What did you think of it?

I have seen the earlier film and I really liked the message that it had to offer. I think everyone can relate to what it's like to be bullied and the importance of finding strength within yourself.

You've said before that Buster Keaton was a big inspiration for you. In what way?

Buster Keaton inspired me because he used physical comedy in his films. When you watched his films, you couldn't help but have a big smile on your face.

Buster performed most of his own stunts, as you do. Do you still enjoy the physical work as much as you did?

I do enjoy doing stunts, but I don't like getting hurt. I will continue to do as much as I can. I do hope that I can start to focus more on my acting and less on my stunts.

How much do you train each day when you are in between films?

I don't train that much in between films but exercise as often as I can. Exercising is good for the mind and body.

How did the stunt work in 'The Karate Kid' rate alongside some of the others you have done?

Coming up with choreography in which I am defending myself against younger children did require a lot of time and thought. I didn't want to come across as if I was bullying them. I didn't want the fight scenes with the children to be too violent and I did try to add some comedic moments.

How was it working with the director, Harald Zwart?

Harald is a talented, passionate and hard working director. He is very artistic and comes up with really powerful images in the film. He always came to the set prepared. He was very focused and knew exactly how he wanted to tell the story in every scene. He always knew what everybody was doing on the set at all times.

Does the film have a message?

I think our film has many messages. People should respect each other and themselves. People must learn to overcome obstacles in life. We all must embrace new experiences and people in our lives. Despite a traumatic experience in a person's life, they must learn to deal with it so they can move on to their future. Kung fu (martial arts) is a great way for people to learn respect, discipline, focus and empowerment. It is important to have morals and ethics in life.

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Aircel’s App stores

Aircel has become the first service operator in the country to launch a full fledged application store in collaboration with Infosys. Interestingly, world over, it is usually the handset vendors which have successful application stores like Apple and BlackBerry. Gurdeep Singh, COO, Aircel, says, “The reason as to why the service operators across the world have not been able to have a successful App store is because of the kind of energy it requires. We have an open developers community and the backing of Infosys would help us in getting a host of applications.” Technology will be a differentiating factor but the most notable feature of this application store from Aircel would be that it won’t just be a smartphone driven phenomena that most applications stores (like that of BlackBery, Apple, Nokia, Verizon)are, but it would also support applications driven on Voice and even SMS.

Surbhi Chawla

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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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What’s in the name

Just months after ratan tata showcased the nano, rajiv Bajaj is ready with his prototype of the small car in alliance with Renault. However, the small car plans of the Bajaj-Renault JV haven’t really been able to match the pace of the former so far. In fact, the prototype that was showcased in 2008 carried a Bajaj logo, but during his last visit, Carlos Ghosn, CEO, Renault, said that there were some branding issues and Bajaj Auto may not get a place for its logo on the car. But then, one should not forget that Renault has not yet tasted success on the Indian turf. While its JV with M&M is riding through choppy waters (with the falling sales of Logan, its tie-up with Ashok Leyland too is on the rough lane. This makes it all the more imperative for the French automaker to get its small car strategy right in India. “Keeping in mind the size and potential of the Indian small car market, getting the small car right will be vital for both Bajaj and Renault,” explains auto expert Tutu Dhawan. Moreover, there will be millions of Tata Nano running on the road by the time the duo launches its product in 2013. So, before thinking of giving competition to Nano, Renault should re-consider putting Bajaj’s logo on the small car as despite being new to the four-wheeler industry, the small car may benefit from Bajaj’s existing brand equity in the country.

Pawan Chabra

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Source : IIPM Editorial, 2010.

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

For More IIPM Info, Visit below mentioned IIPM articles.
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Doodle and Google!!

You must have seen a Google Doodle (creative Google logos) on Google homepage on some special days like historic or seasonal events, and other local occasions. In order to woo school going kids this children’s day, Google India organised its first ever doodling competition called Doodle4Google. The contest was for students from 1st-10th and they had to imagine their own version of the Google logo, inspired by the theme “My India”. The kid who won the contest was Puru Pratap Singh. His Doodle appeared on Google Homepage on 14th November, apart from other incentives he got for winning the contest. Smart way to occupy mind space with future Google users, what say?

Pallavi Srivastava

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Source : IIPM Editorial, 2010.

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

For More IIPM Info, Visit below mentioned IIPM articles.
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A grand debut...

Rajshri Productions is making its grand debut on Zee TV with the show, ‘Yahaan Main Ghar Ghar Kheli’. And true to the typical Rajshri style, the show will have lavish sets, experienced senior actors, beautiful compositions, et al. The storyline revolves around family relationships and their strength to stand by each other in tough times. Its main highlight is the love and respect of a daughter for her father. Irshad Kamil, well know lyricist who has penned lyrics of films like Jab We Met, Love Aaj Kal and Ajab Prem Ki Ghazab Kahani has put the songs together and also done the scripting of the songs. Shreya Ghoshal has lent her voice for the title track. The show features Alok Nath (one of Rajshri’s favourite actor) in the role of the doting father to Suhaasi Goradia of Star Plus’ famous show Aek chaabi hai padoss mein fame.

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Source : IIPM Editorial, 2010.

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

For More IIPM Info, Visit below mentioned IIPM articles.
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CAPTIVE CONSUMERS

Reservations and Regionalism

Many Indians have deep ‘reservations’ about this marketing technique used so effectively – and often so brazenly – by political parties to increase their market (vote) share. But in the last two decades, after former Prime Minister, V. P. Singh unleashed the Mandal genie on India, reservations have become the passport to success and power for dozens of political parties and personalities. Can you imagine Lalu Prasad Yadav, Nitish Kumar, Mayawati, Ram Vilas Paswan, Mulayam Singh Yadav and lesser known names like Kishori Lal Meena, Ambumani Ramadoss and Ramdas Athavale without the issue of reservations becoming and remaining a sizzling hot political button and a strategic weapon in the quest for votes? In marketing parlance, you can say that the more resonant the issue of reservations, the more fragmented the market becomes. And fragmented markets often lead to regional and local brands flourishing at the expense of national ones. So Ambumani Ramadoss has zero salience when it comes to the national market for votes, but there is that community (caste) of his in Tamil Nadu that makes him larger than life. Ditto Mayawati who is still trying hard to transform her Uttar Pradesh centric Dalit identity into a national brand (and perhaps even succeeding partially). And don’t even dream of writing off reservations as a hot issue. Wait for the demand for reservations in private sector jobs to reach a crescendo. That is when the fireworks will start get interesting!

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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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Will Piaggio relieve the glorified days of the 1990s, in the two-wheeler Indian market, yet again? Pawan Chabra answers...

IIPM: An intriguing story of growth and envy

If there’s anything Indians can relate to Italy after Sonia Gandhi and pizzas, then it’s definitely the mean machines from the Italian province. Be it FIAT, which found inroads into the Indian sub-continent for the third time and in its most recent run is doing reasonably well, all thanks to its new product line. What can’t be overlooked however is contribution of its much-popular brand Piaggio, which was once the market leader in the scooter segment in the country, with its JV agreement with LML. Today, Piaggio enjoys the numero-uno position in the cargo (Light-Commercial Vehicles, LCVs) as well as the passenger segments in the country. The elegant designs from Italy has ensured that the brand acquires many loyal followers in the country over time. In fact, the Vespa brand was one of best-selling brand in the Indian scooter market, giving stiff competition to companies like Bajaj during the 1980s & 90s. In fact, it was the Vespa brand that helped LML (the then, JV partner of Piaggio in India) move back into the black in 1991. By 1998, LML had become the second-largest scooter manufacturer in India with a market share of over 28%. However, after Piaggio called off its joint venture with the Kanpur-based LML in 1999, Piaggio confined itself to manufacturing of LCVs. Also, since then the Vespa brand has been reduced to only a case study discussing how a 40-year old brand had to exit the domestic market without a trace (as it belonged to Piaggio). So why are we discussing this right now? Well, this Pune-based Piaggio brand is considering options of launching two-wheelers in the Indian market after a long gap of around 10 years. “We are currently carrying out a feasibility study on our two-wheeler foray at the moment and the final decision will only be taken by year-end,” avers Ravi Chopra, Chairman and Managing Director, Piaggio Vehicles India. But will Piaggio be able to re-attain the glorified position that it once enjoyed in the Indian two-wheeler market is the real billion-dollar question.

Then there is another twist in the tale – Piaggio’s erstwhile better half, LML, has marked its re-entry into the Indian market in 2009 after it shut shop in 2006. The company, which is today operating under the scanner of the Board for Industrial and Financial Reconstruction (BIFR), has launched the NV brand once again in the Indian market. “We will be expanding only in the northern region of the country, as it makes more sense from the logistics point of view. Going forward, we will be expanding our footprint to other areas as well,” explains a source in LML. In fact, the company has clearly created plans in place to expand its product line to CNG scooters as well. But with Piaggio planning to come out with its products by 2010-11, it will only create more competitive problems for this already struggling two-wheeled aspirant. When asked, Chopra refused to comment on LML, but did pass off a line mentioning, “LML is now a sick company and is working under the BIFR scanner. I don’t think there is anything to talk about it...”

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

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...of gems and pandas

IIPM: An intriguing story of growth and envy

cadbury’gems has recently launched a TVC, which showcases colourful pandas, which signify the colours of joy in our lives and captivates the essence of Gems in the backdrop of a jungle. “The TVC plays a momentous role in enhancing the brand connect with brand loyalists...” says Sanjay Purohit, Exec. Director – Marketing, Cadbury India.


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The journey is the reward

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To its credit, Pantaloon Retail reported a 32% sales growth at Rs.5,924 crores for the eleven months ending May 2009, experts now say mainly on account of opening up of new stores and easy-on-the-pocket pricing policy. Toshniwal argues that Pantaloon is not meant to be positioned as a cheap brand and that the affordability factor is not the only reason for success of value formats like Big Bazaar, “Today, every retailer is offering economical pricing; so that doesn’t actually help to create a USP. We in the Future Group believe in giving the best quality with economical (rather than “cheapest”) price; this has been supported by our other marketing incentives.” Toshniwal has been key in introducing middle class targetted innovative schemes like “customers get 5 kg sugar free on purchases of Rs.1,500 and above!” This, and similar campaigns – some offering blankets too – helped Toshniwal boost up Big Bazaar’s sales by almost 30%!

During the upcoming festival season, the company does plan to roll out various price discount schemes to cash in on the increased propensity to spend. And here is where the role of logistics and supply chain becomes too critical. “It’s all about sourcing in bulk. Through our firm Future Logistics, we have been able to create a common platform from where we source all our merchandise for all our formats of business,” divulges Toshniwal. It is said that even the Birlas are looking at this format of leveraging from a common hub. But then, if everything seems to be uber cool, where’s the challenge?

Real estate! When it comes to the real estate industry, where the group has ventured in through Future Capital Real Estate, the group has not been successful to that extent. “That’s because our real estate business is not present everywhere and it’s a relatively new venture for us. Also, we have understood what people want, but it takes time to understand the concept of the real estate business,” reasons Toshniwal.

But that said, is enough said about business, as we also wish to find out Toshniwal’s views on leadership. The fact is that Toshniwal – whose passion is in understanding people – believes that there cannot be a stereotype model of leadership as it changes depending upon the situation and people you are dealing with. According to him, a true leader should be absolutely flexible and simple (“Try to be as much a people’s man and you will see a good leader will automatically come out of you”). But he does confess that however dynamic he might be, his regular jaunts between Delhi and Mumbai leave him very less time for his family. His passion (and wish now) is to spend more time with family and to indulge in sports. “I also pray, that we all have a good start for the next year,” comments Toshniwal with a future thought worth a million – or Rs.25,000 crores, as Future Group would say, as Toshniwal intends to make the group that big in three years from now. Mayur, our best wishes; we’ll be watching.

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Source : IIPM Editorial, 2010.

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

For More IIPM Info, Visit below mentioned IIPM articles.

The Sunday Indian:- B-SCHOOL RANKING SCAMSTERS EXPOSED!
For Exclusive Footage by Sunday Indian Click Here

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The approach for consumers should be as usual. Do not kiss your festive inclinations goodbye. The show must go on.

IIPM 3-year full-time Integrated (MBA BBA) Programme

If all this talk about austerity by politicians has led to consumers feeling guilty, I would stick my neck out by saying that such guilt is unwarranted. It is not to be denied that there are many reasons that can make the consumers feel the pinch of going out for shopping.

One, the job of consumers is to consume and they do the economy a service by doing so; second, the inflationary spiral in essential items has extracted every ounce of austerity that resides in us already. And third, it is the festive season – and what would festivity be without people consuming, bustling food stalls, new clothes for the family and lights everywhere! That’s where the fun lies.

This season, I would exhort consumers to shed their austere cocoons – a product of inflation and examples set by politicians whose posterity is as fickle as the weathercock. Moreover, consumption is a national service. Look at what happened during Ganeshotsav this year – less idols were bought and those which were bought were cheap ones. Craftsmen were plunged into misery by such scrimping behaviour which was probably not an outcome of inflation but the swine flu. The same would happen if consumers reduce consumption and it is happening and at a very large scale.

To the rich I would say, “If you are inspired by the recent austere clouds surrounding you, give some of your money away so that consumption can be kept up as it is the lifeblood of the economy. For every rupee that you give away, the national consumption would rise. A basic law of economics is that the poor consume greater proportion of income than the rich. If you do not want to give any of your money away, then do not hoard it, but spend it. That it is the next best thing to charity. Your money on crackers, clothes and candles will ultimately find their way into a many a poor man’s stomach and light up their lives. Please do not behave like Uncle Scrooge in Christmas Carol.

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

For More IIPM Info, Visit below mentioned IIPM articles.

“We will change your outlook” - The Sunday Indian on B-SCHOOL RANKING SCAMSTERS EXPOSED! A must read...
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Hero Honda : ‘Dhak Dhak Go’

IIPM 3-year full-time Integrated (MBA BBA) Programme

Elvis Sequeira,
VP & ECD, JWT Delhi
“Fundamental to Hero Honda’s success is a very simple policy of creating products based on understanding consumer needs and then designing highly reliable cost and fuel-efficient bikes that address these needs in every segment in the category.”

Murad Ali Baig
Auto Expert
“Hero Honda introduced the revolutionary four-stroke engine. people laughed. However, Hero Honda bikes swept the market. Had Hero Honda not existed, the advent of such technologies would not have happened as early in india, but would have taken their due course.”

For More IIPM Info, Visit below mentioned IIPM articles.

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THE GLOSSARY AND OVERALL RANKS

IIPM 3-year full-time Integrated (MBA BBA) Programme

Brand Awareness: Consumer response to a marketing campaign, including below the line activities, brand endorsers, communication contributing to brand information and positive consumer disposition, et al.

Image & Perception: Perceived identity of a brand amidst consumers, based on marketing initiatives and delivery on promised commitments, on which, the consumer forms a mental image of a brand, which may or may not be real.

Brand Loyalty: When the consumer is tempted enough to stick to a brand, out of commitment or need towards that monicker, he is displaying his loyalty to that brand.

Brand Performance: Consumer’s perception of the performance of a brand. Respondents were asked to take into account distribution network, word of mouth publicity, promotional activities by the brand vis-à-vis its competitors. Also includes the consumer’s perception of sales, profits and the goodwill of the brand.

Brand Association: Association refers to that aspect of a brand’s marketing cycle wherein the brand reaches such a stage that it becomes synonymous with that product category. So when a brand is inadvertently associated with any value, personality or attribute, it denotes a brand association.

And here they come now...

Rank 1-13


Rank 14 - 56

Rank 57 - 78

Rank 79 - 100

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

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

For More IIPM Info, Visit below mentioned IIPM articles.
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Religion: Off the Shelf

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And you thought that religion is fading in cities and among the educated? Check this. A survey by Centre for the Study of Developing Societies (CSDS) has already established that the stress of urban living is pushing people to search for anchors in their lives, which they recreate through religion. The survey found that 93% Indians – irrespective of education – believe in God; 64% visit a temple, mosque or gurudwara regularly and 53% offer prayers daily. It’s almost as if the till recently subdued religious fabric of a nation is now seeking manifestation in the conspicuous consumption that defines modern times. And as the daily grind becomes more hectic & competitive, “quick connects” with god are fast gaining momentum. On the one hand are Gayatri Mantra or Hanuman Chalisa ringtones, while on the other are guys providing services like online prayers and mobile donations.

Even deity statue makers are carving their own special niche in this godly industry. And while most statue purchases are still made through the unorganised market, some organised players are stepping in to take advantage, with Lladro being a key player among the latter. Indian mythological and religion inspired arts and sculptures in fact contribute over 20% of Lladro’s entire turnover. Says Sachin Jain, Senior Brand Manager at Lladro: “We are not a religious commodity brand; instead we are a brand that sells emotions, art and lifestyle.” Lladro began its Indian religious tryst with Ganesha idols in the year 2001. And when the 2,000 piece limited edition was a super success worldwide, Lladro successfully created and began selling Radha Krishna idols. “Then we created Lakshmi, which has been our best selling product in the world,” adds Jain. When they began crafting Lakshmi wares, they priced them starting Rs.1.64 lakh a piece. The same art is being sold at Rs.7.5 lakh a piece today. As per Jain, with the Lladro Lakhsmi their customers possess a unique statement of art. “And so we call it a lifestyle statement,” he says. Jain and others of his ilk are now awaiting the peak sales and marketing season of Diwali. Having already sunk huge moolah into tracking and maintain close relationship with customer, Jain particularly is confident about customer loyalty in the upcoming Diwali season.

Even travel companies are cashing in by organising religious yatras for the young and old alike. Talking to the magazine, Arup Sen, Executive Director, Cox & Kings reveals, “Of the estimated 400 million journeys undertaken by Indians every year domestically, close to 100 million journeys (nearly a fourth) are to pilgrimage centres like Tirupati, Shirdi, Golden Temple or even the Char Dham Yatra.” And the numbers are swelling. As per the estimates of Cox & Kings, the growth in this segment ranges between 25-30% across age groups and socio-economic profiles. No surprise that they’ve priced their services straddling the lowest and highest rungs (starting from Rs.5,869 to Rs.1,67,000 per person) of the market. Industry estimates peg the annual pilgrimage to the Shri Mata Vaishno Devi Shrine alone at about Rs.474 crore every year.

This brings us to where the big monies really lie viz. the temples, mosques and churches, which are fast modernising their marketing and services to keep pace with the times and growing demand. And, leading the race are the gurus that claim to take you a step closer to spirituality and well being.

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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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Indian banks are mean competitors in global markets, putting their advantage – lower technology and labour costs – to good use.

So, what stops Indian banks to truly develop their global muscle, asks Deepak Patra

25th December or Christmas day in 2006 was special for Christalyn Sangary, President of a property management firm in Toronto, Canada. She was celebrating the day with her husband and five year old son Joshua at Film City, Mumbai and keeping them company was Bollywood heartthrob Shah Rukh Khan. “SRK definitely won the affection of our five year old son within minutes,” says Christalyn, adding that she was thankful to God and ICICI Bank Canada for making the beautiful experience possible. Yeah! Christalyn was actually the Grand Prize Winner of Meet and Greet Shah Rukh Khan, a contest hosted by ICICI Canada for all those who opened a chequing account with the bank during the contest months. In fact, the slate grey, thirteen storeyed skyscraper, jutting onto the Toronto skyline, which serves as headquarters for ICICI Canada, is really the hub of many such slick marketing ideas ever since its launch in December 2003. At first a niche bank, servicing just the Indo-Canadian community to a direct banking operation today and customers in every Canadian province, the bank boasts an asset base of C$6.4 billion (as of March 31, 2009).

ICICI is not the only Indian bank with global ambitions. Public sector bank, State Bank of India has also been an early starter in the direction. In fact, on and off, other big bosses of Indian banking industry – Punjab National Bank, Axis Bank, HDFC Bank or for that matter even banks like Andhra Bank, Bank of Baroda and Indian Overseas Bank – have shown some interest in making their presence felt in the global arena. But all those efforts have hardly been backed by consistent efforts; for the critic, they’ve only looked like well managed PR; while for the supporter, the ‘expansion’ moves have simply been attempts to make the shareholders back home happy. Excepting very few like SBI and ICICI, none of the other banks’ bottomlines gets a contribution even worth mentioning from their international operations. To that effect, and to their credit, in the case of SBI, this figure is about 8.6% (still less, but better).

And if one were to talk about going into foreign markets using the inorganic route, then apart from SBI and ICICI Bank – which have attempted a few acquisitions in Indonesia and Russia – none of the other banks have hit the news. A research report published by Accenture (India Goes Global) suggests that in all cross-boarder M&A activities involving Indian corporations between 1995 and 2006, the banking sector had a 2% share. Why this is very meagre can be seen by the fact that in other developed nations, the banking sector makes up a significant share of takeover deals. Definitely, one can argue that markets were on an upswing between 1995-2006 and therefore, with the global banks being valued sky high, it was not practical to invest in them.

But the situation has changed drastically since then. Today, many of the global banks (even after the revival that the market has witnessed in past few months) are valued at just 25-50% of their value in 2006-07. At this point, Indian banks have a huge opportunity. More so because they are loaded with huge reserves and cash balances, the traditional Indian tools to fund M&As. Moreover, capital adequacy ratio of most of the Indian banks is far better than that of global standards, which means they can actually afford to raise debt capital, if necessary, to fund any deal they take up.

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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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And the race begins...

As Mahindra Holidays’ success inspires more companies to hit the primary market, investors too are fastening their seat belts for a joy ride, says Deepak R. Patra

The brave one wins! And it’s proven once again with the Initial Public Offer (IPO) of Mahindra Holidays and Resorts India Ltd. Strangled by the year long carnage at Dalal Street when the primary market was left high and dry, it came as the first IPO of the financial year 2009-10 breaking a four-month lull. Though market was stirred by the post election developments, no body was sure about the IPOs future; many questions were passing through the minds. While analysts were thinking over the possibilities of the IPO getting fully subscribed, investors were cautiously thinking whether to invest or not? But then, Mahindra Holidays’ bravery paid off. It ended up being almost 10 times over subscribed. However, this success of Mahindra Holidays has given rise to a million dollar question; is the primary market reviving thick and fast??

“Well, it’s a tough question to answer at this point of time,” says Prithvi Haldea, Founder-Managing Director, PRIME. Certainly, considering it’s just the first of the lot, it’s tough to predict the future outcomes, but the question remains, why did the company pick up this time to hit the market? “In September 2008 we had filed the draft prospectus with the Securities and Exchange Board of India (SEBI) and were waiting for the right time.

Post-election we could see a window of opportunity and just decided to cash on it,” explains Ramesh Ramanathan, MD, Mahindra Holidays’ and Resorts India Ltd. However, the company derived courage to launch the IPO from its stronger fundamentals and business model based on both growth and annuity. And of course, their past experience as Ramanathan further adds, “As such we are not completely new in the primary market. Earlier we had successfully accomplished Tech Mahindra IPO.”

Whatever may be the reason, but this IPO has seen the primary market revive for sure. More for the fact that with the launch of the IPO the grey market in Ahmedabad, which in general is considered as a litmus test for IPOs, has witnessed some movements almost after a year. Market men feel that the movements will start gathering momentum as new IPOs come in. Even though investors are still very cautious about investing, one cannot deny the fact that gradually now they are coming out of their shells. At least, the Qualified Institutional Buyers (QIBs) seem to be returning to the market. In Mahindra holidays’ IPO, the QIB portion was over subscribed by almost 13 times (bids received for 71,303,160 shares as against an offer of 5,559,165 shares), the highest among all the categories. Active participation of the QIBs certainly means that things will turn for good from here on.

Perhaps corporate India too is banking on the same fact. As many as 19 companies have already filed their Draft Red Herring Prospectus (DRHP) with the market regulator SEBI and are raring to hit the market soon. This includes a few big ticket IPOs too like NHPC Ltd. (issue size Rs.2500 crore), Adani Power Ltd. (Rs.2200 crore) and Oil India Ltd. (Rs.1400 crore). Combined together 19 companies, which have received a nod from SEBI, will be raising a whopping Rs.8900 crore from the market. But then that’s not all, while near about 20 applications are pending with SEBI for approval, many more like BSNL, Pradip Overseas, John Energy et al are evaluating their options to float IPOs, which seriously means the draught is set to be over as a new season of IPOs have just kick started with that of the Mahindra Holidays’. However, as per Prithvi Haldea, “Companies will remain cautious for sure as issue expenses with a failed IPO is too big a cost.”

Meanwhile, the investor community seem to be gearing up for the show. As per the data available with National Securities Depository Ltd. (NSDL) and Central Depository Services Ltd. (CDSL) during April and May nearly 1.84 lakh new demat accounts have been opened. And the momentum is picking up fast indicating that investors too are prepared to participate in the upcoming IPOs. But then, both parties must not forget, fundamentals will be the key for both parties.

Deepak R. Patra

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DEATH-ON-SALE!

The media also crashes in on the party. You simply have to look around at all the ratings-boosting coverage of MJ’s death for current evidence. TIME magazine has been particularly quick on the uptake. While the figures for their recent special commemorative issue on Jackson are still not available, a similar special issue on Princess Diana’s death by TIME sold more than 1.1 million copies. Natmags is releasing a commemorative 132-page Michael Jackson tribute magazine and a total of 200,000 copies of the glossy A4 title will be on sale for a month, priced at £2.99 per copy.

Memorial events too are going strong, where fans are ready to pay $50 to vendors for a picture next to a cut out of the King of Pop. Jackson’s funeral, in fact, has been the biggest in entertainment history, even bigger than Diana’s death and at par with the event of Obama’s presidential speech. Jackson’s cremation event was viewed by more than 750 million people. Going by Nielsen data, Princess Diana’s funeral saw 33.25 million viewers, while former President Ronald Reagan’s mid-day funeral drew 20.8 million people only.

Not to be outdone, even merchandise licensees from around the world have successfully tuned into manufacturing and distributing products using celebs who have passed away. In 2008, Elvis Presley Enterprises was sold by Elvis’ daughter, Lisa Marie, for $100 million. It should not come as a surprise therefore if tomorrow it is Michaels’ images and stamps. In the past, Diana dolls had become icons of the Princess after her death. They can still be bought for $188.95 from the Society for the Preservation of History. Franklin Mint’s porcelain portrait plate sells for $29.95 and Solid Silver Memorial Coin for $55.

If we are talking of legendary celebs, we can’t miss out on Marilyn Monroe. More than 40 years after her death, licensing her famous poses and pout have made more than $30 million in fees for Anna Strasberg, the wife of Ms. Monroe’s former acting coach, and her business partner, a professional peddler of dead peoples’ images. Marilyn Monroe’s images alone have pulled in more than $30 million since her death and $8 million in 2007 alone. In 2004, Robert Sillerman (a wealthy American businessman who deals in building and selling media companies) paid Lisa Marie Presley $100 million for an 85% stake in Elvis Presley Enterprises Inc. And not to miss out on the Monroe frenzy to entice potential consumers, Mercedes-Benz still features Monroe (along with James Dean) in some of their ad campaigns.

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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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Itz the magic called Ritz, after many other hitz...

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Maruti Suzuki is upbeat about the semi-urban and rural markets. But it has bigger plans... Shinzo Nakanishi, MD, Maruti Suzuki India, live & exclusive...

4Ps B&M: How is Ritz different from the other models selling under the same segment? Is it BS-IV compliant?
SN: The Ritz combines modern European design, the sporty feeling of the Swift, the latest in engine technology and Suzuki’s globally acclaimed expertise in compact cars. Ritz further reiterates parent Suzuki Motor Corporation’s commitment to bring global car models with a contemporary design, style and next generation fuel-efficient, environment-friendly engine technology for its customers in India. The Ritz will be made available with the latest K12M engine in the Indian market. With Ritz, Maruti Suzuki has fulfilled the promise of offering at least one new product to the Indian consumer, every year. We now have eight cars in the A2 category including the Ritz. With the Ritz, we are offering a first BS-IV compatible vehicle from Maruti’s stable for the Indian consumer. Moreover, we are launching it much before the guidelines are made mandatory in the country. Globally, the Splash has been an instant hit and we are hoping for a similar response from the Indian market for the Ritz.

4Ps B&M: Don’t you think the Ritz will eat up your own market share in the A2 category. WIll it negatively affect your company by attracting the Swift buyers?
SN: No, it will rather expand the overall market in the A2 category. This is something that Maruti Suzuki has been doing for a long time now. Like when we launched the new Zen when WagonR was already in the market, some people thought it will not work; but it carved out a new market for itself in the industry. India is a compact car country, yet of a diverse nature where no two consumers think alike. In fact, with Ritz, we wanted to give the consumers a choice within the Maruti Suzuki brands. There is no denying that Ritz has been made on the Swift platform but unlike Swift, Ritz is a family car and is targeted at an altogether different platform. In fact, we believe that there will be no cannibalisation and it will carve a different segment for itself, rather than negatively hammer Swift’s market share.

4Ps B&M: Do you expect the new Ritz to outsell Maruti Swift?
SN: No, we do not expect to do so with the Ritz, but we do expect it to become a market leader in the segment it operates. Swift has already become an iconic product in the time frame of four years...

4Ps B&M: Have you set any production or sales target for the new Ritz model?
SN: No. We haven’t decided on any production or sales target. Rather, we have all the capabilities needed to meet the demand, and we will supply as much as the market wants.

4Ps B&M: But there is still a long waiting period for Swift and Swift DZire. How are you planning to deal with that?
SN: We have already increased our capacity of producing diesel engines to 2,00,000, and by the end of this year, we are planning to take the figure further to 3,00,000. In total, we have a capacity of producing one million units and we usually keep the break-up of production very flexible. In fact, a 10-15 day waiting period doesn’t hurt the company or doesn’t take the customers away. Rather, it makes the company much more efficient, for in any case, blocking up inventory doesn’t make any business.

4Ps B&M: Can you throw some light on the pricing of the Ritz?
SN: Ritz will be available in five different variants i.e. three in petrol i.e. the LXi, VXi, and ZXi and two in diesel i.e. the LDi and VDi. The Ritz will be available at an introductory price of Rs.3.9 lakh for an LXi and Rs.4.99 lakh for a VDi.

4Ps B&M: This seems quite interesting as Splash is available at a much higher price point in the European markets. How did you manage to pull the price down?
SN: Well, the common use of the Swift Platform and the high localisation i.e. 95% has empowered us to introduce Ritz at a much lower price point than expected in the country.

4Ps B&M: Splash is also available with a 1L engine in the European countries. Why have you not introduced the same in the Indian market?
SN: Ritz will be available in a 1.2L engine in India, and that’s because we thought that the 1L engine was unsuitable for the Indian market.

4Ps B&M: Why haven’t you introduced any ZDi variant for the Ritz in India?
SN: That wouldn’t have made sense as the price in that case would have been too high!

4Ps B&M: Are you planning to phase out any product out of the Indian market?
SN: Honsestly, we have no plans to phase out any existing model from the Indian market.

4Ps B&M: But there were rumours doing the rounds sometime back about Maruti phasing out the Maruti 800 and Omni?
SN: That’s not true. We are not phasing out the Maruti 800 or Omni. Rather, the engineers are working on making them BS-IV compliant.

4Ps B&M: With the launch of SX4, everyone expected Maruti to shift its focus from small cars. So does the launch of A-star and Ritz signify that Maruti is again changing focus to the small car segment?
SN: We never shifted our focus from the small car segment. Rather, with the SX4, we expanded our portfolio and entered a segment where we wanted to improve our grip.

4Ps B&M: What are you expectation with the new government?
SN: The government helped a lot to deal with the last dull phase in the automotive market. Then whether it be the excise cut or the petrol price going down, it surely helped many players to sustain in the second half of 2008. And with the new government, I do not expect anything going back. If they can provide more help, everyone will be more than happy.

4Ps B&M: Is Maruti Suzuki planning a hybrid for the country?
SN: If Maruti Suzuki brings a hybrid in the country, it will be through Suzuki Motor Corporation, Japan. The current hybrid that Suzuki has is a big car but they are working on developing a smaller hybrid. Let them develop and then we will think about bringing the same into the Indian market. Interestingly, there are many more options for the Indian market in the form of electric cars, CNG and LPG. We are looking at launching some CNG variants, but that will only happen after it gets a nationwide presence. Apart from that, we are working on a National Hybrid Project with the government to develop hybrids for the country in association with M&M and Tata Motors.

4Ps B&M: How was the company able to post a mind-blowing growth in the last fiscal when the other autocos were suffering?
SN: In times of a slowdown, people actually do not prefer taking any risk. They prefer purchasing brands on which they have full trust, and in the automotive market, Maruti Suzuki comes on top on these grounds. Moreover, we saw the slowdown affecting urban areas of the country, so we instead moved aggressively into the rural and the semi-urban market, which helped a lot to cope up with the slowdown. The revenue contribution from the rural markets shot up to 9% this year, compared to 3.5-4% last year.

4Ps B&M: The next five years... Where do you see Maruti?
SN: I want to see the company continuously lead the auto industry in the country and keep the overall market share more than 50%.

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

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