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Profile of Ashwin Merchant: A true entrepreneur and SME family member
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Born in an industrious SME family, Ashwin Merchant is an engineer from VJTI, University of Mumbai with post graduate studies in marketing management. After returning from USA, where he had gone to pursue higher studies, initially he joined family linked business in manufacturing of electrical equipment.
In the first quarter itself he designed and developed first of its kind of solid state battery charger (unique, advanced, not available in India) and demonstrated manufactured product at India International Trade Fair (IITF) in New Delhi under Government of Maharashtra pavilion for SSIs & SMEs. He put in lot of marketing into business of selling a hard core electrical product by designing catalogue which unlike rest, talked about benefits and not just features.
For a 15 day trade fair, to explain product he used tape recorder which played product information to visitors. A nice logo and business cards were designed as marketing tool. Received hundred of enquiries and back in Mumbai seniors were not ready to allocate company typist to reply enquiry.
Ashwin Merchant borrowed money and bought Apple computer than costing Rs.99,000/- a first generation of PC. Used low profiled word processing software and mail merged all enquiries with a single text in less than a week. Surprised by technology assistance and usage for commercial purpose, senior encouraged him to do a business in the area of providing similar services to all those who regularly participate in exhibitions.
And, this gave birth to India's first word processing bureau WORDPLUS Compu-Mark Assistance which was launched at a well known event at Hotel Ambassador in Mumbai. From thousands of square feet of space at the factory, Ashwin Merchant preferred to settle in 200 square feet office in South Mumbai, purchased on rent.
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| Marketing doctor recommends 3Rs |
Very important, business is not possible without customers. Customers - you may call him a king or an emperor, he is the VIP in every business, how so ever big or small.
In today’s dynamically changing business environment, customer loyalty is in question. Without loyal customers, those customers to whom you can not say they are yours, business is always unsecured.
Incorporate 3R theory in your every day business.
R-1: Rewarding loyal customers, customers giving good margins and those who advocate your business to others
R-2: Retain the customers - one and all who do not require much attention and are satisfied and business through them flows in regularly. It is said that it costs 6 to 8 times more to make a new customer than retain one.
R-3: Regain the lost customer. It is easier to win a lost customer than make a new one.
Practice 3Rs and emerge as a leader.
(To know more about the author please visit: www.ashwinmerchant.com The author can be contacted at ashwin.merchant@yahoo.com)
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