M. B. Raghunath
President Sales & Marketing
Mafatlal Industries Limited
It takes effort to identify a vision that your customers will find credible and aligned with their values. How have you been crafting such a vision for your company?
For more than five decades MIL’s ethos was to provide consumers a great quality fabric at an affordable price. We still continue with this policy and are continuously introducing a new range of textile products in the evolving market with value for money.
What role is social media platform playing on today’s marketing standards?
Social media has become a great medium to be in touch with our consumers directly and is appropriate to advertise our products and brands directly to consumers.
What would be your prime focus for retaining customers- advertising new products or launching service oriented campaigns?
MIL has one of the largest product basket and each product needs to be focused in different ways. We are more into Dealer/Retailer meets and booking conferences along with consumer product promotion schemes. We are not in the electronic media, but very active on social media.
“Money coming in says I’ve made the right marketing decision”- till what regard do you observe this quote? Also, is true that marketing itself requires a mammoth budget?
In our product categories enormous budgets are not required, we need to advertise to enable Brand recall in the customers mind. In textiles we do more of B2B. We are the manufacturers of fabric, where good quality and after sales service are the key.
How did you develop your passion for marketing?
It is because of my extrovert nature from childhood and enthusiasm for travelling and meeting people.
Which is your favorite book on marketing?
Think and Grow Rich by Napoleon Hill.
Can you name a person who has had a tremendous impact on you? Maybe someone who has been a mentor to you? Why and how did this person impact your life?
There are so many seniors, customers and competitors, every day someone teaches you something new. It is difficult to mention one name.
Be your own fortune teller and tell us where do you see yourself in next 5 years?
Continue to head the Sales & Marketing Division I handle. There are more products to be launched and MIL needs to be a leader in every category of Business I look after.
Which is your quote that inspires you and enlightens your heart?
Lead me, follow me or get out of my way.