RIP Time Machine: HMT

The announcement of HMT's imminent shutdown seems to have rejuvenated interest in the brand and its memorable timepieces. It definitely gave me a dose of nostalgia, having worked on the brand in the late 80s in my stint at Mudra in Bangalore.

The technology was then shared by Citizen

Somehow, the marketing division in HMT figured that quartz watches would not work in India and concentrated on manufacturing its mechanical range. Indians who were going to the Gulf to get their watches suddenly found alternatives in Titan, with its elegant range, and HMT failed to see that. The communication then positioned owning an HMT as a point of patriotism, but this did not work with the evolved Indian consumer. 

You can read more on my take on what set back HMT, in this piece in Open Magazine, here.

Loyalty programme | A brand is a lot more than a trade name

Malavika R. Harita, CEO of Saatchi Focus Network, spent the first six years of her career at HMT Watches. She was fixated on the brand. Though she moved on from the company, the love story continued. Her mother still wears the HMT watch she gifted her when she got her first salary in 1982. But now Harita looks depressed when she hears about HMT, as an inept management has destroyed the iconic brand and the company is on the verge of a shutdown.

So what is it that makes people like brands? Harita is an expert in branding, who knows how brands are created as a marketing tool. Still, she is not spared from its influence. Harish Bijoor, CEO of Harish Bijoor Consults, likens brands to human beings, who take birth, grow, flourish, live, die and eventually decay. Even iconic brands, with whom we have grown up, follow the pattern.

Many brands that have a bit of history attached to its name have become a thing of the past. The iconic magazine Reader's Digest recently filed for bankruptcy. Legendary music company HMV has faded into oblivion. Earlier last year, Eastman Kodak, which revolutionised photography, filed for bankruptcy. Vimal, which was at the forefront of the textile revolution in India, was shut down by Reliance Industries earlier this year. Dunlop Tyres also shut operations recently.

Read more »

The arrogance of market leaders

Fall of the mighty: BPL realised the value of investing in technology, but more significantly invested in the brand. So what went wrong? (Above) A file photo of the launch of a BPL TV _ G. R. N. SOMASHEKAR

“Learning and innovation go hand in hand. The arrogance of success is to think that what you did yesterday will be sufficient for tomorrow.” - William Pollard

It is 5.30 a.m. on the first day of the Australian Test cricketing season and I am sitting in front of my TV set as I have done for several years now to watch a lightweight contest between two ordinary teams, one of which has three youngsters making their test debut. As both teams strive for success on a cloudy day at The Gabba, my mind wanders to other examples of success and failure from the world of business. While success is rare and difficult to achieve, we need to remember that history is full of successful people who have lost their way due to arrogance and leading brands which have led their popularity to blind them to the pitfalls on the road to sustaining success. Let's take a look at some of the brands that have been consumed by arrogance or short-sightedness and see if there is any learning for our own future conduct.

Read more »