Consumers buy value in form of products: Sameer Satpathy, ITC Limited
Sameer Satpathy, Chief Executive, Personal Care at ITC Limited, in a candid chat with Swati Khandelwal of Zee Business, says that business will continue to grow ahead if you have a habit of walking ahead of the time and above the circumstances. Edited Excerpts:
Q: There is a volatility in the market and demand pattern is going against the expectations. The festive season is around the corner. What is your hope for this year especially, when it comes to the existing business environment?
A: You will have a good business if you walk ahead of the time and above the circumstances and that is a reason that we always try to do better.
Q: Personal care segment is growing at present with new categories like male grooming. I think it is the fastest growing segment and is outpacing women?
A: No, we can never outpace women.
Q: Yes, we hope it doesn't happen but there is a boom in the category and is showcasing an opportunity for almost every company. What do you think and let me know about the growth drivers for the segment?
A: See, Growth drivers is a thing where a consumer expects some value. They will buy the product if we add some value to your product and pack them in a way that pleases them. Besides, innovation and advertisement are two thing that makes a consumer to buy the product.
Q: But there is a stiff competition in the market?
A: Competition is a good thing not only for us but also for the economy. It increases efficiency and makes us think before investing.
Q: How do you shortlist things in terms segments so that you can distribute your time as well as investments, as demand comes after that?
A: We have a simple philosophy and that is we do not invest but it is the brand that invests as if the brand can earn for itself if it has the potential to grow itself. In addition, we don't go for selection as every team is engaged in playing its own game and think on the ways to grow them. So it is about innovation and ambition.
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Q: Tell us about the segments or new areas that have the potential to grow in future?
A: There are various vectors like soap, shampoo and floor cleaners and every vector comes with a challenge and an opportunity in itself.