CXO Corner < Back Make Intelligent Decisions Compensating for luck, the quality of your decisions governs the likelihood of an outcome. Since there is little that you can do about luck, making quality decisions should be your focus for success in life and business. In the dynamic world of corporate leadership, the role of a CXO extends far beyond the confines of the corner office. Central to it is the ongoing imperative to make pivotal decisions to navigate the company through strategic crossroads and unforeseen crises. Acknowledging the unpredictable nature of luck, the true compass guiding our future lies in the quality of our decisions. Effective decision-making requires us to define the decision. Specify the problem or opportunity that requires attention and articulate the point of the decision. Identify the desired outcome and get the data required to facilitate an informed decision. Generate a range of potential solutions. Encourage creativity and diversity in thinking to explore alternatives. Assess each alternative against the desired outcome. Consider the potential risks, benefits, and consequences associated with each option. The solution that aligns with our desired outcome with minimum uncertainty would ideally be our most preferred solution. The above sounds fairly logical and simple but the actual world is far more complicated than that. Sometimes the data is straightforward and does not need much analysis. However, many times you may have to build complex models. The complexity of a model would increase severalfold when there are a lot of factors that can influence the desired outcome. The complexity of decision-making escalates with the number of factors at play. Is data always critical? Should you spend time and resources making every decision? How do you draw a line? The significance of a decision determines the investment of time and resources. Tossing a coin for a pizza choice may not warrant much scrutiny, but when a billion-dollar contract hangs in the balance, meticulous consideration of data and probabilities of award becomes imperative. Do we always have time to evaluate data? Is the data always available at hand? When the data is not readily available, consider delaying your decision until the data can be made available. If you do not have time for more data, make use of the information available at hand and go with the most suitable alternative. A favorable outcome doesn't necessarily validate a decision's quality. A robust decision-making process involves defining objectives, assessing available information at the time of making the decision, evaluating risks, and understanding the value at stake. A good decision-maker makes his decisions objectively and minimizes the influence of heuristics and biases. What happened last time is not an indication of what will happen next unless data shows a pattern over a period of time. Your biological condition can potentially interfere with your decision-making process. Make sure that you do not make those high-value critical decisions when you are not feeling well. You do not want to blame your blood sugar for being adamant during the negotiation and losing a potential business opportunity. While data analysis is indispensable for optimal decision-making, it's crucial to recognize that data alone doesn't ensure objectivity. Understand your data sources, verify data integrity, and strive for a comprehensive understanding before making pivotal decisions. In essence, decision-making is both an art and a science. As we navigate the dynamic interplay of logical frameworks and real-world intricacies, the ultimate quality of decisions is not defined by hindsight success or failure but by the optimal use of information available at the time of the decision. Previous Next

Insight < Back The Age of Viral Marketing New-age marketers are not content with just memorable content. They work on creating contagious content that quickly spreads and reaches a large audience through word-of-mouth, social sharing, and online platforms. They bank on social influence for a quick turnaround. No matter how good a product or service is, customers are unlikely to spend any money on it unless they can recall it at the time of the purchase. The goal of any product campaign is to capture the user's attention and increase the likelihood of trial or adoption by making it easy to recall the product at the time of purchase. So why do some products register in our memory, while others do not? What are the ingredients of memorable content? Less is more for our brain which is always overloaded with information. Simplicity reduces cognitive load and increases the likelihood of attention and memory retention. Avoiding jargon and keeping the content simple and concise increases the probability of success of a campaign. Curiosity drives us to explore, learn, and seek new experiences and knowledge. Content that creates curiosity drives customers to seek more information to satisfy their interest. Heightened attention makes it easy to encode the product into the memory. Surprises evoke strong emotions, such as excitement, fear, or joy. Our minds actively work to reconcile surprises with our preconceived notions, leading to deeper cognitive processing. The distinctiveness of a surprise in a campaign makes it more likely to be stored in our memory. Concrete and vivid details have a powerful impact on capturing attention and engaging with the target audience. They create a strong mental image that evokes emotions or curiosity. Sparkling diamonds, ice in the bathtub, blood on the wall, sizzling flames, and lush green oasis are some phrases that pique curiosity and create a mental picture that makes it easy to register the message in the brain. Statistics with a reference point for comparison provides context and make the information more relatable and meaningful. Our brain is more likely to register the vastness of a known reference point than that of a number. The fact that an air conditioner consumes 5 times the electricity required for all our other household goods is far more impactful than the fact that an air conditioner consumes 60 kWh per month. Establishing credibility with references makes it easy to capture the user's attention. Our mind registers matters of emotional significance and personal relevance. Stories that evoke emotions are highly effective in engaging customers and increasing memory retention. Emotional experiences stimulate the release of neurotransmitters like dopamine and adrenaline, which enhance the consolidation of memories in the brain. Identify the core emotions you want to evoke in your customers, such as joy, nostalgia, empathy, or inspiration. Leverage emotional storytelling by crafting a simple and concise narrative. Incorporate characters or situations that customers can relate to. Use sensory language and vivid descriptions and throw surprises where possible to make the story come alive. Create a sense of tension or conflict to build curiosity. Be authentic in your storytelling, and aim to connect with customers emotionally to create memorable and impactful experiences. New-age marketers are not content with just memorable content. They work on creating contagious content that quickly spreads and reaches a large audience through word-of-mouth, social sharing, and online platforms. They bank on social influence for a quick turnaround. When we see others engaging in a particular behaviour or conforming to a certain belief, we tend to interpret it as evidence that the behaviour or belief is correct or desirable. We use social proof as a cognitive shortcut to make judgments or decisions. We just fit in even when we feel differently due to the fear of social rejection. Social proof and fear of social rejection are two examples of how the psychology of social influence works. Social influence helps popularise the product or service. Popularity creates a bandwagon effect, which quickly expands product visibility and sales. Social influence becomes more prominent in situations of ambiguity or crisis. When faced with uncertainty or unfamiliar circumstances, individuals often turn to others for guidance. So how do we create contagious content to build word of mouth and how can we use that word of mouth to get our products and services to catch on? People spend their social currency to share things that make them look smart and special. When you tell someone a secret, it is the privilege of being privy to the secret that makes the other person share it with others. Find that inner remarkability that makes it compelling for people to share your product or service. When something is top of the mind, it is likely that it is also at the top of the tongue. You just need a trigger. Gin is the trigger that reminds us of tonic. Identify the trigger that positions the product at the top of the mind of your potential customers and they will start talking about it. The more we care, the more likely we are to share. That is how emotions work. People share positive emotions but avoid sharing negative ones. People share when they get anxious or angry but not when they are sad. Inspire people and create the excitement required for sharing. Built to show, is built to grow. People will talk about the products or services they are proud to show off. People share when it makes them look good. Humans deepen bonds by sharing things that help others. Show the practical value of how your product or service can help save money or life or how it can help build someone's future. Stories are the currency of conversation. No one likes salesmen selling products in their social circles but they happily share emotionally connecting stories with the product embedded in it. Craft narratives that elicit strong positive emotions such as joy, surprise, awe, inspiration, or humor. Provide emotional, practical, and metaphorical reasons for people to spend their social currency and share your product online. Include a trigger that makes it easy to connect your product to what is trending. Look at the ways in which you can tie in pride of ownership or the practical value of the product in your story. Do not sell a product, sell emotions that engage people and make them feel better when they share your product. Previous Next

Infrastructure Overview Project management & cost control are key to operational excellence. Business processes should eliminate the need for trust and create transparency between the management and the project teams. Variation should be identified at the origin and approvals originated before the work begins. Establish Robust Business Processes Delays are the primary cause for project cost overrun. Do you have appropriate project management processes in place to eliminate delays and cost overruns? Do you identify project risks and price them when creating your financial models and bids? What is your contractual risk management strategy and how is it different from your competition? How do you ensure that your learnings from your existing projects become your competitive advantage in the business ? Do your F & A processes eliminate the need for trust and ensure that there are no financial leakages? Are your project teams motivated enough to innovate and bring down the project costs? Do you have a long term strategy to move away from price competition? We can help you establish robust processes, train your teams and build a sustainable market strategy. We can also assist you with financial feasibility studies and risk assessment. Case Study Read More The Problem With the current market dynamics and company capabilities, it is almost impossible to win profitable business as price is the single most important project award criteria. Our Solution Move to development and launch an Infrastructure fund to fund projects in partnership with other investors by reinvesting project construction margins in the project as the project developer.. Related Insights ESG is the Future The environmental, social, and governance factors impacted by a company do not directly impact the company's profits and loss statements. Instead, the impact that the company has on the environment and society triggers a reaction from governments, customers, employees, or members of civil society. Read More Back to Industries Previous Next

Project < Back Precast Manufacturing Plant Client Contech Precast Location Singapore Problem Statement With Singapore government allowing Malaysian players to supply precast slabs for infrastructure projects in Singapore, Contech is finding it difficult to compete. Project Brief Contech Precast Pte. Ltd. is in the business of Supplying Precast slabs for HDB Housing and LRT, MRT & Tunnel Infrastructure projects in Singapore. With increasing competition from Malaysia, Contech is going out of business. Malaysia and Singapore are separated by Johor Straits which is roughly about 2.5 Kms wide. The Island Nation is connected to Johar Bahru, Malaysia by road. The cost of living in Johar Bahru is less than 25% of that of Singapore and labor laws are much more lenient in Malaysia. Singapore imports most of the construction raw materials including cement from Malaysia. Therefore, precast manufacturing costs in Singapore are typically much higher than that of Malaysia. Several Precast manufactures in Malaysia are already supplying for projects in Singapore and more plants are coming up around the border areas. Precast manufacturing typically comprises of land for casting and storage, overhead cranes, raw materials, labor and transportation. While land and machinery consist of the initial investment required, raw materials and transportation are typically a function of the output generated (variable cost). Labor in Singapore is not available easily on daily basis and is usually hired for longer duration. Therefore, the labor cost is more of a fixed cost rather than variable cost unless one can plan output months ahead of time. Since labor and land both cost higher in Singapore, the fixed costs of operating a precast plant in Singapore turns out to be much higher than that of Malaysia. As raw materials primarily come from Malaysia, plants in Singapore do not have any transportation cost advantage against those in Malaysia. Unless import duty makes it possible, factories in Singapore cannot outbid factories in Malaysia when supplying same product. When Contech started it enjoyed preferential treatment as a Singapore based company and it was a preferred supplier for all government housing and transportation projects. The plant capacity was designed considering the same. Operating the plant at less than 35 percent of the capacity, doesnot cover up the fixed cost. Contech could move up the value chain and make more specialized products such as precasted bathrooms but given that market demand for such products, it wouldn’t be able to utilize more than 25 percent is its available capacity. Operating from Singapore is simply not an option for Contech. Its primary valuation arises from its project track record and physical assets in place. Selling out land and machinery and establishing a plant in Malaysia should be actively considered if the management wants to retain the brand and project track record. Contech could also use it project track record to expand to other markets such as India and Middle East. Given that the competition is stiffening and the parent company is a construction company subcontracting most project works, it is highly recommended that the parent should find a buyer for Contech by getting the best valuations from those willing to buy Contech’s project track record. #regulatoryrisk #coststructure Power in Numbers 0.45 Revenue ($Million) 21 Employees (No.) 25 Market Size ($ Million)

CXO Corner < Back Turn Lemons into Lemonades Throughout history, extraordinary leaders have accomplished the seemingly impossible. What sets them apart, and how can you become one of these exceptional leaders? For your people to follow you, they must trust and respect you. To earn the trust and respect of your team, consistently do the right thing and hold yourself accountable for your actions. Demonstrate integrity, authenticity, and ethical conduct, regardless of whether your actions are publicized. Leaders influence people by setting an example. Whenever you speak, you are an example of what you are teaching your people about you. From your interaction with the lowest level employee in your organization to accepting a setback or celebrating a victory, you are communicating things about yourself. There are times when you need to explain your decisions and manage the team’s perceptions. Be transparent about your situation and decisions. While full disclosure isn't always possible, manage transparency expectations by sharing what is appropriate and promising to revisit the topic when more information can be shared. Leaders turn challenging tasks into achievable goals by fostering positivity. Cultivate joy, kindness, compassion, gratitude, and hope to enhance productivity. Instill a sense of purpose in your staff, demonstrating their potential to make a positive impact on the world. Be supportive in the way you deal with the adverse results. When faced with challenges, transform setbacks into opportunities. Use storytelling to present reality without deviating from the facts, creating a positive perspective to motivate your team. Serve as a supportive leader, extending benefits to those affected by proposed solutions. Include examples to unite the team to overcome the issue. The journey to being a better leader starts with better listening capabilities. Be inquisitive and understand the needs and emotions around you. Create trust and make your team resilient. Leadership does not mean authority to dictate what you want. Negative use of authority will yield negative results. Motivate and collaborate, ensuring everyone understands constraints and stays focused on objectives. Prioritize progress over perfection and foster open dialogue to align the team. Manage the outcomes and not the process. Do not micromanage your team as it shows that you do not trust them. Delegate tasks and decision-making, intervening only when necessary. Be open to suggestions, and show empathy to build trust. If issues arise, demonstrate your willingness to assist, fostering transparency within the team. With limited time and energy, choose your battles wisely. Focus on finding solutions rather than dwelling on problems, and be available to provide assistance when needed. Recognize and embrace your imperfections. Seek informal feedback, identify patterns, and consider professional development opportunities to address and improve upon your weaknesses. The path of exemplary leaders is paved with trust, authenticity, and resilience. By consistently doing the right thing, leading by example, and fostering positivity, you lay the groundwork for success. Leadership is not about perfection but progress, and by acknowledging and improving upon your imperfections, you inspire growth in both yourself and those you lead. As you navigate the intricate landscape of leadership, choose your battles wisely, focus on solutions, and always be available to support your team. Previous Next

Manufacturing Overview Whether it is upstream and downstream connectivity, product mix, plant performance, demand forecasting or Industry 4.0, we can help you improve and/or reinvent every facet of your operation. Convert Bottlenecks into Growth Should you diversify your suppliers or optimise your inventory to improve resilience of your supply chain ? What are your upstream and downstram supply chain risks? Can you become more competitive by reducing your working capital cost? Do failure limits set by your quality team cause frequent plant disruptions ? Is your product mix limiting your top and bottomline? Are you struggling to find avenues to comply with your clients' sustainability directives? Are you unsure about return on investment required for digitization and/or automation of your plant? Ask us for a detailed assessment of your entire operations to unleash your full potential and improve return on investment. Case Study Read More The Problem With Singapore government allowing Malaysian players to supply for projects in Singapore, Contech is finding it difficult to compete due to higher labour cost and stringent labour regulations in Singapore. Our Solution Selling out land and machinery and establishing a plant in Malaysia should be actively considered. Contech could also use it project track record to expand to other markets such as India and Middle East. Related Insights The Age of Viral Marketing New-age marketers are not content with just memorable content. They work on creating contagious content that quickly spreads and reaches a large audience through word-of-mouth, social sharing, and online platforms. They bank on social influence for a quick turnaround. Read More Pricing for Product Success Even though such scientific models are available, most merchants continue to rely only on an intuitive sense of what the consumer would be willing to pay. Read More ESG is the Future The environmental, social, and governance factors impacted by a company do not directly impact the company's profits and loss statements. Instead, the impact that the company has on the environment and society triggers a reaction from governments, customers, employees, or members of civil society. Read More Back to Industries Previous Next

Insight < Back ESG is the Future The environmental, social, and governance factors impacted by a company do not directly impact the company's profits and loss statements. Instead, the impact that the company has on the environment and society triggers a reaction from governments, customers, employees, or members of civil society. Traditionally, Management and finance gurus taught us that the purpose of a company is to maximise returns on the investment, resulting in a culture where managers focused exclusively on improving revenue, profits and efficiency even when it meant damage to the environment, displacement of the societies and exploitation of the employees. The information Economy has changed the landscape. The end customers have risen today to reward the companies that maximize the collective gain and punish those that do business at the cost of environment and society. Lawsuits have been filed against companies whose actions have caused damages. Some of them have ended up paying billions of dollars in settlements. Shareholders are becoming aware of the changing landscape and want their managers to take adequate ESG actions. Despite best intentions, a manager may not take the required action because of the unavailability of the data about the return on the investment or factors outside his control. Increasing greenhouse emissions causing rise in global atmospheric temperatures are melting glaciers and causing rise in the sea level with the threat to terrestrial life and man made structures. Heat has resulted in changing patterns of wildfires, killing people, destroying properties and disrupting economies. It has also resulted in decrease of the overall efficiency of the workers on the ground. Changing climate patterns have also led to typhoons that result in destruction of infrastructure and loss of life. With end customer becoming aware of the future consequences of global warming, it is willing to avoid the usage of hydrocarbons and move to renewable energy, even if it entails paying more for it. Governments are planning to introduce carbon taxes that will eventually make it costlier to use hydrocarbons. Particle emission from power plants, factories and locomotives cause respiratory diseases and lung cancer. Nitrogen emission reduces agriculture yields and causes childhood stunting. Plastic and other contaminants in oceans recycle for human consumption. With goverments regulating air and water pollution, there is increasing risk of lawsuits and penalties againts the polluters. Social issues such as pay inequality, working conditions of the employees, constitution of the workforce, child labour, inappropriate or inadequately tested products, pollution or an incidence of bribery can severely compromise the reputation of a company. End customers favour companies and brands with better social record and avoid those whose actions harm their societies. It is a proven fact that proud employees are more productive and better brand managers than those that hide. We all know that better community relations lead to better business environment that better manages inevitable conflicts. If you do good, you will be conceived good in the communities where you work and sell. Your customer knows more than what you communicate about your brand. Bad news spreads faster. Given the changing landscape, Governance is of absolute importance. Company policies should clearly define ESG responsibilities inline with existing and expected regulations. Managers should maximize overall value for all the stakeholders. Maintaining an ESG risk register can help. It is important to encourage employees and managers to identify and highlight ESG risks. A firm's actions related to environment and society impact its long term financial performance. With little data available, it is almost impossible to calculate return on investment. The value lies in a more complex system of stakeholder relations. It may be a good practice for a company to reinvest a percentage of its profits to improve its ESG reputation. There are strategic choices to be made but ESG is the future. Previous Next

Insight < Back Pricing for Product Success Even though such scientific models are available, most merchants continue to rely only on an intuitive sense of what the consumer would be willing to pay. Pricing is a critical factor in the success of a product. The right pricing strategy can drive sales, maximize profitability, and help you achieve your business goals. While you may be focused on maximizing your market share and profit margins, several factors come into play when you decide what should be the right price for your upcoming product. Since a business’s prime objective is to make money, your minimum reservation price as a business might be the cost of producing the product including manufacturing, labor, materials, and overheads. Cost cost-based pricing approach has been the most common method of pricing products, however, product success requires us to factor in market dynamics too. It is important to remember that price by itself is also a product differentiator and there are pitfalls of under-pricing or over-pricing. Pricing should essentially meet your other components of the product marketing mix. When you decide to launch a product for your target customer, you consider the demand curve of the product and arrive at a price range to create the minimum support for your planned production or sales target. This price would usually consider the customer, the competition, the company, and other market aspects such as seasons and price wars. Based on the price elasticity of demand, you would ideally fine-tune your pricing to meet your sales target. This in the luxury segment could mean increasing prices to increase demand. If the product category exists, the customer already has a reference point. Pricing your product using competitive benchmarking correctly communicates your product and brand value. If your product is an innovation and has no competition in the market, you would be targeting early adopters to create a future market for your product. This could be very tricky. On one side you may be tempted to floor the price to create demand, even if it means negative contribution margins and on the other side, you would be concerned about the reference point and perceived value you end up communicating to your target customer. It is important to gauge the customers' willingness to pay and adjust the pricing using promotion strategies. One must never forget that maximizing volume does not mean maximum profits and the customer does not have to own the product to know the value it brings with it. Estimating the demand curve is one of the most difficult aspect of the problem. Market data is the most straight forward way of creating the demand curve. We could use the data available from the sale of similar products. We could also run experiments to estimate the demand curve. With online channels available, the experiments can quickly generate response. Intermittent promotions and discounts, different prices for the same product based on the day of the week or store location can help us quickly build the demand curve. We can also use expert and customer surveys. A customer buys your product only when it considers its perceived value to be greater than the price. When you bring the competition into the picture, the customer would buy the product that offers him the highest consumer surplus calculated as the difference between the perceived value and the price. The perceived value of the product includes the brand value too. Statistical techniques such as conjoint analysis are deployed to create pricing models that consider the value of product features and the competing brands to arrive at the price the customer’s reservation price. Such statistical techniques are powerful tools for understanding customer value perception. They also help us tweak the product features to match customers’ value perception. Differential or discriminatory pricing based on the customer’s convenience, need or loyalty is another way of maximizing sales. Starbucks may have three different sizes of coffee but it practically serves the same amount of coffee in each of those cups. Similarly 7/11 charges premium for the same milk that is sold cheaper by Walmart. Airlines run loyalty programs and offer discounts to promote repeat usage. Pricing should promote product sales and maximize profitability. Under-pricing harms your product profitability in the short run and brand value in the long run. Over-pricing simply kills the demand. It is important that you take the scietific approach and spend the required time and resources to price for the success of your product. Previous Next

CXO Corner < Back Navigating Financial Transparency In the face of operational challenges, executives find it tempting to manipulate financial information. They often discount the fact that transparent financial reporting is not just a regulatory requirement; it's a cornerstone of trust within the business ecosystem. In the intricate landscape of corporate finance, the specter of accounting frauds raises questions about the transparency and integrity of financial reporting. Examining infamous cases like Enron and Satyam sheds light on the dangerous paths organizations can tread when financial practices deviate from ethical standards. This article explores the nuances of accounting practices, emphasizing the importance of transparency and adherence to accounting principles to prevent the inadvertent creation of an Enron-like scenario in your organization. Enron and Satyam succumbed to the allure of manipulating financial statements. Enron's use of mark-to-market transactions and the creation of subsidiaries to hide losses, coupled with Satyam's fabrication of revenue through fake invoices and convoluted corporate structures, serve as stark reminders of the dire consequences when financial mismanagement goes unchecked. One subtle yet potent avenue for potential financial mismanagement lies in related party transactions. While it may seem harmless to grant a book contract (no work required) to a parent or subsidiary, allowing it to book revenue to show growth, the reality is that such practices can sow the seeds of a long-term financial crisis. It is precisely why modern accounting standards mandate the disclosure of all related party transactions, requiring companies to publish both standalone and consolidated balance sheets. Both International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) address the consolidation of financial statements and provide guidance on recognizing revenue, expenses, assets, and liabilities. These global standards aim to establish a common framework for financial reporting, emphasizing consistency and comparability. Five fundamental accounting principles — accrual, matching, historic cost (or fair value), conservatism, and substance over form — serve as the bedrock of financial reporting. These principles provide guidance on revenue and expense recognition, tratment of assets and liabilities, and prioritization of substance over form. Adherence to these principles ensures financial statements accurately reflect a company's true financial position. While accounting principles provide a framework for recognizing revenue when risks and rewards have transferred and performance obligations have been satisfied, there are several dark areas. The percentage completion method, common in contracting, introduces opportunities for interpretation, potentially allowing accountants to inflate revenue. Misapplication with the failure to revise estimated project costs as per actual project performance, can lead to significant financial misstatements. When the losses accumulate, excuses often revolve around unforeseen cost overruns or additional work without corresponding compensation. In the face of operational challenges, executives find it tempting to manipulate financial information. They often discount the fact that transparent financial reporting is not just a regulatory requirement; it's a cornerstone of trust within the business ecosystem. While short-term gains from obscured information may seem appealing, the long-term consequences can be severe. Learning from the cautionary tales of Enron and Satyam, companies are better served by adopting a culture of openness, enabling stakeholders to forgive occasional setbacks, and fostering an environment of trust. As stewards of financial integrity, organizations must actively guard against the pitfalls of accounting fraud. By embracing transparency, adhering to accounting principles, and learning from historical missteps, companies can cultivate a culture that not only safeguards against unseen risks but also builds enduring trust within the broader business community. Previous Next

Project < Back Launch a Women Fashion Brand Client Apperhill Location India Problem Statement Create the required marketing mix and launch a women fashion brand at the minimum setup cost and build a profitable business from scratch. Project Brief The client was looking to venture into fashion and wanted to create a women's fashion brand that could take on the likes of existing Indian players such as Allen Solly in the Indian Market. The client strongly believed that young women in India experimented far more than men and India lacked brands that could offer them wholistic fashion. Our assignment was to create the elements of the brand and market it to reach the customers. We were working on an extremely low budget as the client wanted to see the market response before pumping in more money. After studying the market we narrowed down on Kolkata for launch. Kolkata provided us better exposure to the target segment with a high number of aspirers who wanted to break free from societal norms and build their own identity. Working on the product line, we realized that brands in the market rarely offered apparel with other accessories such as jewelry, shoes, and bags that could complement each other and we decided to launch our product line as a combination of them to fill the market gap. We specifically avoided imitations and regular footwear and focussed on creating complimentary accessories for office and parties with pearls, leather boots, and sandals. The store had to be located amidst its competitors for rightful positioning and the first outlet was rented at City Center Mall, Newtown. We wanted to be placed at a price point where customers looked at us as a premium brand but also considered as an alternative to their existing brands. We priced our products at a 25 percent discount when compared with other brands in the segment. Since we were targeting young women who challenged the status quo, our marketing pitch had to align with it. We tagged the brand with “ for women who are born leaders and trendsetters “to identify with our target segment. A photoshoot was arranged with freelancers to build the brand story for promotions through digital channels such as YouTube and Instagram. Boards were placed around the mall and discount coupons were provided to partners such as saloons and gyms for initial customer mobilization. The store was launched with required promotions on EID to get maximum exposure. #branding #marketing #marketingmix #productinnovation #productdesign Power in Numbers 3 Team Size (No.) 500 Gross Margin (%) 102 SKUs (No.)

Project < Back Cut Carbon Emission from Ships Client Nautillect Location India Problem Statement IMO is introducing EEXI and CII from Jan ' 2023 and the ships may be required to cut down their speeds to meet the regulatory requirements associated with the carbon emissions from ships' funnels. Project Brief The company was founded to help shipowners improve their operating efficiency with the help of Industrial IoT, data visualization, and artificial intelligence. With the IMO introducing regulations to monitor and certify ships' energy efficiency and carbon intensity measured as the amount of carbon dioxide emitted per ton nautical mile of cargo carried, many old ships were required to cut down their maximum speed. The reduction in ship speed would mean lower charter rates for the owners. The company already had a data visualization platform. A product that could help route ships based on the weather conditions and a ship's response to weather conditions could help ship owners improve efficiency and reduce carbon emissions without cutting down on the speed and engine power. Several open-source routing solutions are available for routing land-based transportation. Those solutions could be extended to the ocean if we could develop a model that helps translate every point at sea onto a cost that needs to be paid to pass that point. Weather conditions could also be translated into additional costs to route the ships through the lowest-cost path. A weather model was developed using open-source data to deliver a routing solution that could route ships at the minimum cost between any two points at sea. The weather-based routing solution developed for the company was so enticing that Stratumfive, a major marine technology solution provider from England serving 12, 500 ships across the world, acquired the company to improve its product offerings. #productinnovation #sustainability #shipping #routing #gis #energyefficiency #carbonemissions Power in Numbers 0 Similar Products (No.) 20 Estimated Improvement (%) 50 Revenue Potential ($ Million/ year)