Verghese Kurien On Building A Successful Brand


wealthymatters.com

The success of the Amul brand name has, no doubt, resulted in my being asked to comment on its history and the reasons for its success. I have, therefore, reflected on the long history of the brand to see if I could distill reasons why Amul is a name widely recognised and respected, not just in our cities and towns, but in our villages as well.

Probably the easy, but nonetheless wrong, answer is that Amul has been advertised well. Certainly it has helped that those responsible for keeping the Amul name in the public eye have used considerable imagination and, if I do say so, ‘The Taste of India’ is nothing short of brilliant. However, there is much more to it.

A successful consumer product is the object of thousands, even tens of thousands of transactions every day. In these transactions, the brand name serves in lieu of a contract. It is the assurance to the buyer that her specifications will be met. It is the seller’s assurance that quality is being provided at a fair price. Read more of this post

Learning From Sir Richard Branson


wealthymattersHere is what Sir Richard has to say:

1. On big companies vs. small companies

“Small is beautiful.” Sir Richard doesn’t see size as a competitive advantage.

His Virgin Records label is not the biggest in the music industry, but in 1992 it attracted the Rolling Stones. Virgin Airlines has a mere 37 airplanes versus the 700+ maintained by its competitors. It’s better to spin off a company into a second smaller company (as Virgin Atlantic spun off Virgin America) than grow larger, Sir Richard believes, because smaller companies can stay both more nimble and more customer-focused. They can also maintain the style and “cheekiness” of their early trailblazing if they stay relatively compact. Read more of this post

Cheap Brand Building


wealthymatters.com Read more of this post

Harsh Mariwala On His Family Business


wealthymatters.comProfessional managers can help family businesses grow: Harsh C Mariwala, Chairman & MD, Marico

I joined my family business in 1971. My family, a large joint one, owned diverse businesses collectively managed by family members. The businesses ranged from trading to manufacturing, but none leveraged any significant brands. In this backdrop, I strived over the subsequent two decades to create a distinct identity for a successful brand-basedFMCG business.

Still, in 1990, when we carved out the FMCG business into a new company called Marico, it was a leap of faith for me personally and a quantum jump for the business, which then had a turnover of Rs 80 crore. The separate corporate existence did impart a sharper focus and enhanced the growth potential. But it also held out a challenge — how would a new, unknown company attract talent? Read more of this post

%d bloggers like this: