A two-member team from IIM Bangalore (IIM-B), comprising MK Ajith and Anand Lanjewar, was the runner-up.
Hosted by BusinessLine on Campus (BLoC), and presented by Indian Terrain Fashions, the event was held at St Joseph’s Institute of Management in Bengaluru.
A record nine teams competed in the Bengaluru round of the seven-city semi-finals of the BLoC Boardroom challenge. Apart from IIM-I and and two teams from IIM-B, there were two teams from IFIM, Bengaluru; IBS, Hyderabad; Great Lakes, Chennai; St Joseph’s Institute of Management, Bengaluru; and Kristu Jayanti College; Bengaluru.
The jury comprised Avil Saldanha, Asst Prof (Marketing), St Joseph’s Institute of Management; Maneesh Krishnamurthy, Head, Omni Channel, Titan Co. Ltd; and S Sivakumar, Executive Coach and Trainer.
Talking strategy
The teams presented their strategies on how a new entrant in the toilet soap segment could make a successful foray into a highly-penetrated market. The case facts required students to prepare a business case that involved all aspects, from financing to its positioning and marketing, and required a holistic view of the business.
The winning teams were of the uniform view that the case challenged them on all fronts.
“Focus on business side”
Titan’s Maneesh said that most teams were leaning towards the creative side of the business on launch and positioning strategies without understanding the business side of the case. He said it was important to focus on the business side first, as in a real business scenario one would have to make an ‘elevator’ pitch to the top management as they would be short of time.
While most students focused on a premium launch of a toilet soap, Maneesh said it was a highly-penetrated category and teams could have looked at a lower-priced launch. Also, resources that teams allocated were more focused on digital marketing, whereas they could have been directed at points of sale where purchases happen.
Prof Avil said that in a business plan, students should get their numbers right first. “If an investor has to invest in your business, he will look at your numbers first,” he emphasised. That has to be a key takeaway for students, he said, and added that students need to be clear about their value proposition and understand who the competition is in any business scenario.