Setting right priorities

Former F1 racer David Coulthard says the cost of a present day racing car engine has gone up from £5 million to £20 million. The race for new technologies and the sky rocketing costs are putting pressure on the smaller companies. So much so that just 15 of all the cars in the Australian Grand Prix started the race, something is wrong, says Coulthard, when all the cars in the fray cannot start a race. He goes on to makes an important point, when he cautions that we should not get so caught up in showing off technology, that we forget that there are people in the grandstand who want to see a motor race.

The learning point in this situation? The critical need for leaders to be clear on;

1. what they are in the business of

2. what they are in business for, and

3. what their customer needs are

Then set their business priorities accordingly.

Lessons for work and life 1

Schmitten,  a new brand of premium luxury chocolates by a Surat based manufacturer seems to have it all,  beginning with a premium sounding name. It is setting up experience-cum-retail lounges in 50 cities to promote the chocolates.  It's first set of launch commercials have been made by Swedish ad maker Frederick Bond. The brand will be backed by a 70cr ad campaign and aggressive retail expansion.  It has roped in adman Prasoon Joshi and Bollywood actress Priyanka Chopra to promote the chocolates and It has set up a 450cr manufacturing unit near Mumbai.

Wow, you say? Well,  hold it, because according to Harish Bijoor, the marketing guru,  the  chocolates have one major flaw;  the brand suffers from a packaging issue.  It does not reflect the premium status it is aspiring to build through its advertising.  It is important for a brand that aspires to be seen as premium or luxury,  to connote those values through their packaging as well says Bijoor.

Life lesson: in a competitive world,  you have to package yourself right - reflect the values you represent in your communication, your attire, in short your very persona.  Sounds sordid when put like that? Gandhiji put it in a more palatable way - be the change you like others to be.