It’s time to spice it up!

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

Once the target audience is chosen, then comes the next ‘P’ – Product and in service industry like restaurant the product comprises both food and ambience, which again has to be chosen as per the target audience needs. But be very sure to be unique in your product offerings. And if you can’t find such USP, in that case give service a personal touch, as much as it’s possible like remembering the guest name, his preferences, et al. To give personal touch, start highlighting your key chefs, who can personally mingle with the guest. But then, remember whatever USP you create, it can be easily copied by others. So constantly nurture it. For instance, organise food festivals. In fact, in The Oberoi School I train people specifically on how to organise food festivals cashing in on festivals like Diwali, Ganesh Chaturthi, et al.

But that’s not the only two crucial imperatives to create a successful restaurant brand. In fact, if that was the case then many entrepreneurs who had other ventures too would have been successful here as being expert in other business they would certainly know the art of creating USP with the right target audience. So, the next biggest challenge is to find a good location for your restaurant. In fact, 50% of Indian restaurants shut down because of the location problem as unlike other businesses here you can’t sell your product through other retail stores. All the five star hotels are very fussy in choosing their locations, but at the same time a five star hotel chain (like ITC) with two hotels at different locations in the same city, might end up having huge difference in revenues from both the hotels and all because of their locations. So choose your location carefully. Agreed that often cost of prime location is too high, in that case concentrate only on one restaurant and don’t think of expansion in the initial phase. Because remember, we are talking about a standalone restaurant concept and why shall people come to you if the location is not comfortable or is unattractive.

Locations, USP, target audience are something which Asian nations like Singapore have been stressing on and when I was working on creating restaurants like Kinara and Hazara, in this country I noticed that by banking on all these three attributes we were able to attract huge tourist from the very beginning. Also when it comes to India remember there’s another value addition that we can do to create a brand and that lies in another ‘P’ – People. Pay your employees more than the market rate and acknowledge their work so that they can feel for the brand. In service industry it’s very necessary that you sustain and nurture talent and see the wonders they do for the brand.

But once the brand is created the next challenge is to sustain its consistency and change menu to be competitive. This is where your people could be helpful, listen to them. Priya Paul is always open to suggestions and that’s the reason The Park restaurants in Kolkata are always full of people. So like any venture, creating a restaurant brand also depends on Ps like – Product (and its USP), Place (location), People (your team) and of course, the target audience.

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.

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

Outlook Magazine's B School Ranking Scam Exposed
Don't trust the Indian Media!

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Most Glamorous Brands

• Kolkata Knightriders
• Force-1
• Louis Vuitton
• Filmfare Awards
• IPL

Two brands right on top of one single category? You should have known this is India and cricket is perhaps even bigger than religion in many cases. So both IPL and the Shah Rukh Khan promoted KKR have been the people’s choice when it comes to glamour. And how can you ignore film stars? No wonder Filmfare awards find a place right here.

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.

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

IIPM ISBE Programmes
Follow Arindam Chaudhuri on Twitter
IIPM B School on Twitter
Management guru Arindam Chaudhuri’s latest blockbuster book, Discover The Diamond In You
IIPM 3-year full-time Integrated (MBA BBA) Programme
IIPM 2-year full time Programme (leading to the award of the MBA degree from IMI)
B-schools expect higher rate of campus placements this year
Arindam Chaudhuri (IIPM Dean) – ‘Every human being is a diamond’
IIPM Best B School – EVENTS
IIPM conceptualized the grand final of Dare ‘10 — the most prestigious of international B-school student quizzes

It’s called Newton’s 3rd law, Mr. Obama!

Ned Barnett is a Senior Political Media Analyst with experience of running media campaigns for former US Presidential candidates at state level. He writes exclusively for 4Ps B&M on why Obama’s PR campaign is backfiring...

America’s politicians are typically divided between two parties (there are other parties, but they seldom gain representation in Congress, and virtually never achieve real power, even in local or state elections); and typically, politicians “follow the party line.” However, because they are elected individually and are required to live in and come from the district they represent, they tend to oppose their own party when they fear for their own re-election. By pushing the American people so hard that they feel inclined to push back, the Obama administration has motivated hundreds of thousands of Americans to actually pay attention to politics, to get involved and to CARE.

During the Presidential campaign, Obama’s background as a “hardball” community organiser worked remarkably well – however, now that he’s governing, it is backfiring. Why? Because he seems to not be listening to Americans – and when Americans don’t feel that they’re being heard, they speak louder. Please remember, that in the US, the first element of the Bill of Rights allows us Freedom of Speech, Freedom of Assembly and the Right to Petition the Government for the Redress of Grievances. By not listening to people’s free speech and by ignoring their petition to redress grievances, the Obama administration is courting that backlash.

There is a group – once called “the Silent Majority” – of people who tend to not speak out. They often vote, but they don’t protest or demonstrate. They are used to doing things for themselves, and they are much more comfortable “writing a letter” to an elected official, or the local newspaper, than going out in public with their home-made signs. However, because of Obama’s community organising initiatives and his “Change” agenda during the campaign, they have found the courage to step out of their comfort zone and speak out in public. They are not career protesters or life-long political agitators-for-change – this is not their natural milieu, and because of that, they are more emotionally tied up in being heard (and much more prone to real, sustained anger when they’re not listened to).

I am not implying that America is on the verge of a real revolution (of the armed revolt kind), but please remember this from our history if we want to understand this backlash – that it was not the Stamp Act (taxation without representation) that caused the revolution in 1776 – it was the refusal of King George and his Parliament to listen with interest to the American Colonists’ legitimate grievances that led directly to the Revolution that created the American Republic.

There are indeed precedents where Presidents have used the power of organised supporters (union members for instance) to push hard for their programs – the most obvious example is President Franklin D. Roosevelt during the depths of the Great Depression. He was a master at twisting people into activism, and it was effective. However, without the alternative media of today (cable news, Internet), the opposition was unable to push back. His efforts in passing the Communications Act of 1934 (he became President in 1933) reinforced the mandate that broadcasters had to broadcast “in the public interest” which enabled him to monopolise the media as never before to reach people. However, the times were different – especially the technology – so it is hard to compare them directly.

This is especially important in light of the question about how Obama’s media handling is going to change – I don’t think it will. To date, President Obama has seemed to be “tone deaf” – he hasn’t learned from mistakes (he hasn’t even acknowledged his mistakes – he’ll apologise overseas for America’s past actions, but won’t acknowledge his own mistakes). This is, in fact, remarkable. Even Nixon acknowledged mistakes – only Obama among all of America’s Presidents has refused to admit his mistakes.

Clearly, he’s seen his poll numbers fall – he’s seen how his confrontational tactics, especially in the last few weeks, have only ramped up anger and activity of the opposition Yet, he’s only gotten more confrontational. So – unless he has a real “eureka” moment, he’ll continue as is – waiting out his opposition, seeing if they will continue or – like the opposition in Iran and China – fade out after the initial enthusiasm. That may indeed be the right strategy – in democracies, it’s hard to maintain the focus of the “silent majority” who have jobs to go to, bills to pay, families to raise and other life issues that take them away from politics and re-immerse them in what we call “real life.”

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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Priti Nair on why Cannes compels...

India has been shining bright at the Cannes lately. We have been picking up quite a few awards in the recent past and winning the right stuff. So, the hype that we are now seeing about Cannes and India making it big there is not unjustified. Our work is currently in focus and is being appreciated in the global advertising fraternity. Things have really changed for the Indian advertising agencies where 14 years ago people did not even know what you stood for and what you could showcase. They would come up to me and ask how can we speak such fluent English. Now they do not see India as one small country on the map and there eyes light up at our work. This is because they can now acknowledge what we are all about. I think it’s simply amazing. As for the people who get the chance to walk the red carpet and pick up some accolades, there life certainly changes as firstly, they become a focal point for attention and the adulation. There is an obvious celebration that happens for some time before getting back to work as usual. As Cannes happens only once a year, people usually push themselves to win and even our agencies encourage winners. Also, it’s a very nice feeling if you pick up an award for a regular brand; it pushes you in the right direction and encourages people to continue to do good work. Also, I think awards do add a lot of encouragement to the youngsters who are new in the industry, certainly more than the people who have been in the business for quite some time.

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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IIPM fights meltdown, places 2300 students By Education Mail Bureau
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IIPM - Admission Procedure
IIPM, GURGAON

UNLEASHING THE POWER OF THREE

To start operations in times of slowdown and quickly break into the top ten in the very first year of operations is indeed incredible. These guys can’t stop thanking their strong focus on bancassurance

You don’t just rise to be the numero uno within a year of operation do you? So why did we chose the Canara HSBC Oriental Bank of Commerce Life Insurance over other leading players (see chart) in the industry? Well, this new player’s performance has been exemplary, especially when the big bosses of the industry are facing a tough time. In just a year, this life insurer has climbed to the ninth position amongst India’s twenty one private life insurance players (in terms of market share on weighted premium income). Not only this, in April 2009, the company recorded its best sales performance over the previous month than any other private insurer. Guess that’s just one more reason to be counted as a success.

But, when listening to any success story, what strikes first is, how? For a conceptual product, which is actually sold rather than bought voluntarily by consumers, credit for the unprecedented response received by the company goes to its operations based on a bancassurance model, adequate capital, distribution capacity, strong distribution channel and innovative products. Certainly exclusive access to approximately 50 million potential customers and a pan India network of over 4,100 branches does give the insurer an ‘unfair advantage’ over some of its new peers. Explaining the success story, Harpal Karlcut, CEO, Canara HSBC Oriental Bank of Commerce Life Insurance Company, says, “Our success is based on HSBC’s in-depth know-how of bancassurance, coupled with the distribution of Canara Bank and Oriental Bank of Commerce. Our performance has been delivered entirely by bancassurance.” What is evident is the fact that bancassurance has played a pivotal role in helping the new entrant break the clout of the biggies. The CEO agrees, “Each aspect of our business model has been tailored to bancassurance and the specific needs of each of the three shareholding banks; including products, promotion, training, operational support et al.” But the real success of a marketing strategy for an intangible product primarily depends on its execution and the insurer has taken due consideration of this fact too.

Success has many parameters and it seems this insurer has focused on each of them albeit more on bancassurance. But then, they should not forget this is just the beginning. To reach the top they have a long and winding road to cover. That’s when they’ll need a lot more than mere bancassurance to fulfil any leadership ambitions.

Gyanendra Kumar Kashyap

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2009

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

For More IIPM Info, Visit below mentioned IIPM articles.
Management guru Arindam Chaudhuri’s latest blockbuster book, Discover The Diamond In You
IIPM fights meltdown, places 2300 students By Education Mail Bureau
Delhi/ NCR B- Schools get better By Swati Sharma
Event at IIPM
Detail of all IIPM branches
IIPM - Admission Procedure
IIPM, GURGAON