PRAKASH MORE, MD OF MAYUR PLYWOOD INDIA PVT LTD TALKS TO ASHUTOSH HARBOLA, EXPLAINING WHY IT’S IMPORTANT TO KEEP SWIMMING AGAINST THE HIGH TIDE OF TOUGH COMPETITION. USE MARKETING TACTICS, LEAD PEOPLE WELL, SATISFY YOUR CUSTOMERS AND WORK HARDER THAN EVER
Wishful thinking is what many would call it. Reality is what Prakash More, MD of Mayur Plywood India Pvt Ltd has proven it to be. His quest for entrepreneurial success began ten years back, when he ventured into the plywood market. Since then, competition has risen beyond imaginable levels and margins have become wafer-thin, but More proved his mettle with a track-burning growth. The mushrooming of uncountable small time and big players in the business didn’t stop him from expanding from one location to another across the country. Today, Mayur Ply has a presence across 14 cities, and has managed to comfortably carve a niche for itself. With three manufacturing plants (and the fourth one being inagurated soon) and with more than 300 people in the marketing department alone, competitors have come to realise and respect what More and Mayur are together capable of. Talk to him and you find he has yet another reason to smile. A no-brainer hint: your next home builder might just recommend using cement rolled out of one of More’s factories!
The plywood industry is saturated with a lot of small time, unorganised players. What makes your offerings unique?
We differentiate ourselves on the basis of superior quality. We cannot compete on the basis of price, as the many unorganised players in the industry conduct business at very low price points (therefore offering inferior quality products). Our motto is to provide the consumer the best quality products at fair price points.
It is said that Mayur Ply’s start-up days were not the easiest. Can you elaborate on the hurdles?
Rightly said. We faced many challenges during our initial days, starting from land acquisitions to receiving licenses and permits from the government to getting bank loans approvals. It was not an easy journey, but we managed to work our way out.
How critical is marketing for you, considering the cut-throat competition that exists today?
Competition is tough and as can be imagined well, days of monopoly are way behind us. Every single day is a new beginning. But having said thus, it is also important to continue working on what has made us what we are and on what can make us what we want to become. Therefore, marketing is an extremely important tool for getting our voice across to the target audience. Marketing is important to tell the market why we are a superior choice. At the same time, we have to pay attention to key elements involved in the production process, like the quality of raw materials purchased, et al.
Wishful thinking is what many would call it. Reality is what Prakash More, MD of Mayur Plywood India Pvt Ltd has proven it to be. His quest for entrepreneurial success began ten years back, when he ventured into the plywood market. Since then, competition has risen beyond imaginable levels and margins have become wafer-thin, but More proved his mettle with a track-burning growth. The mushrooming of uncountable small time and big players in the business didn’t stop him from expanding from one location to another across the country. Today, Mayur Ply has a presence across 14 cities, and has managed to comfortably carve a niche for itself. With three manufacturing plants (and the fourth one being inagurated soon) and with more than 300 people in the marketing department alone, competitors have come to realise and respect what More and Mayur are together capable of. Talk to him and you find he has yet another reason to smile. A no-brainer hint: your next home builder might just recommend using cement rolled out of one of More’s factories!
The plywood industry is saturated with a lot of small time, unorganised players. What makes your offerings unique?
We differentiate ourselves on the basis of superior quality. We cannot compete on the basis of price, as the many unorganised players in the industry conduct business at very low price points (therefore offering inferior quality products). Our motto is to provide the consumer the best quality products at fair price points.
It is said that Mayur Ply’s start-up days were not the easiest. Can you elaborate on the hurdles?
Rightly said. We faced many challenges during our initial days, starting from land acquisitions to receiving licenses and permits from the government to getting bank loans approvals. It was not an easy journey, but we managed to work our way out.
How critical is marketing for you, considering the cut-throat competition that exists today?
Competition is tough and as can be imagined well, days of monopoly are way behind us. Every single day is a new beginning. But having said thus, it is also important to continue working on what has made us what we are and on what can make us what we want to become. Therefore, marketing is an extremely important tool for getting our voice across to the target audience. Marketing is important to tell the market why we are a superior choice. At the same time, we have to pay attention to key elements involved in the production process, like the quality of raw materials purchased, et al.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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