FROM THE PRESIDENT’S DESK
One of my firm conviction is that you do not need to go to an expert or a ‘learned’ man to pick up a new idea, or a thought that had not occurred to you before. If you are alert, you can learn from anyone – a peer, a junior, an amateur, or even from a casual conversation with someone whom you hardly know.
And it was actually in a casual conversation with a co-passenger on a flight that I picked up this gem: ‘TACTICS WITHOUT STRATEGY IS THE FASTEST PATH TO DEFEAT’. Conversely, ‘STRATEGY WITHOUT TACTICS IS THE LONGEST PATH TO SUCCESS’.
What struck me was how apt these sayings were to our Industry. So often we see Brands following the same tactics as the more successful Brands in their category, and yet not succeeding. It could be in their discounting policies, their pricing, their Advertising, and a host of other activities – and yet, we see some Brands getting huge returns out of these tactics, and some others flopping badly – and we wonder why. According to my mind, the answer lies in the aforementioned adage. In the case of those Brands who are successful, their tactics are closely aligned to their long term strategic positioning.
Take Discounting for example. A Brand could be positioned as a ‘good value for money’ Brand and gain more benefit out of constant discounting and low pricing. But a luxury Brand will probably collapse if it goes in for discounting more than maybe once a year. A promotional tactic of ‘A free voucher for everyone who walks in between 5.00 PM and 7.00 PM’ for example, will have far more success for a Brand having a strategy of distribution through Malls and a mass consumer base – rather than a Brand having a strategy of exclusively located shops frequented only by sophisticated, status conscious clientele.
The reverse is equally valid. If a Brand is strategically positioned as a Value Brand, and then goes in for luxurious interiors, and expensive locations, it is bound to have a tough road ahead. If the product is right, the pricing attractive, it may ultimately succeed even without promotions and discounts, but this is likely to take far longer.
I am aware these are rather simplified and obvious examples, but I am using them just to illustrate my point. A deeper analysis into more complex situations will also result in a similar conclusion.
You would all be aware that the 67th National Garment Fair this July was to be held in a new format, with the Fair being split into Two Editions – Menswear & Accessories being held on the first Three Days and Womenswear, Kidswear & Accessories over the next Three Days. This was necessitated by the traffic restrictions in and around the NSE Complex. However, I am delighted to inform you that as a result of the continuous efforts of the Fair Committee Members, the Traffic Police have very kindly agreed to allow us to hold the Fair as usual – all at one time.
However, considering the ever increasing size of the Fair – this time we will probably touch 1000 Stalls – we have decided to hold the Fair for Four Days, i.e., on 16th, 17th, 18th, and 19th July. And, for the first time, the July Edition will be a No Decoration Fair.
Since this is the first time we are experimenting with a Four Day Fair, CMAI has decided to bear the additional costs of the Fourth Day (Rent, Power, Security, Staff, Buses, etc).
I express my sincere Thanks to the Mumbai Traffic Police for their understanding and support.