ACASE STUDY

ON RECIPE FOR GROWTH By: TTK

Prestige

Pre..BY: jayesh sherasiya

Company Profile

• TTK Prestige Limited was established in 1995 from Madaras under the name and style T.T.Private Limited.

• Mr. Jagannathan is appointed as the Chairman of the TTK Group and also the Managing Director of TTK Prestige Ltd.

• In 1994 the name of the company was changed from TT Limited to TTK Prestige Ltd.

• The company become a deemed public limited company on June 15th 1988.

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• MISSION:• The basic mission of the Company is “Quality Consumer Products at

affordable prices” and in the process delivering long-term value to all stakeholders in the Company.

• VISION:• The Company envisions being a dominant global player in the Pressure Cooker

category and the leading Branded Player in the Domestic Kitchen and Kitchen Appliances segment in the Indian Market and thus occupying a place of pride in the Indian Kitchens. This shall be achieved through Customer Centric Processes, People Development and Operational Excellence.

• BEHAVIOR:• Ethical and civilised conduct is required to be observed while working within

the Company’s premises or Contractor’s premises or social events sponsored/organized /hosted/attended by the Company.

TT JAGANNATHAN

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• Mr. Jagannathan had a market research a small village with a population of 5000 and found that nobody had a pressure cooker.

• Their main three product:

i. Kitchen appliances

ii. Electric appliances

iii. Rise cooker

• TTK Prestige operates 228 Prestige Smart Kitchen outlets in 136 towns to showcase its range of products. Kitchenware in India has always been sold through multi-brand outlets.

• The expansion in the products portfolio and retail network was accompanied by outsourcing.

• TTK Prestige’s sales have grown at an average 21 per cent in the last five years

INNOVATION

• TTK Prestige has tried to create some differentiation through innovation in design.

• They launched a one beautiful model like “APPLE” to captured customer.

• It has a launched pressure cookers with long-lasting coating and one that is built like a handi, the traditional North-Indian cooking vessel.

APPLE MODEL

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• The other bit of the problem was expansion to the North. TTK Prestige had in 1997 set up a factory in Uttarakhand for inner-lid pressure cookers. The factory benefits from the tax sops on offer, on excise as well as corporation tax. The company has decided to expand this factory to make kitchen appliances like mixers and grinders, gas stoves and induction cooktops etc. But it will need to look at its product strategy for the North carefully.

CUSTOMER TRAINING

• TTK provide a training to his customer. Here TTK marketing manager is said to customer that how to use the cooker.

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• TTK Prestige Limited exports its products to USA, Europe, South Africa, Kenya, Australia, Singapore, Middle East, Sri Lanka and many other countries. Products manufactured by TTK Prestige Limited meets every relevant global standard such as CE, GS, UL etc.

• INCREASING AWARENESS• Mr. Chandru Kalro, Executive Vice-President (Marketing), told Business Line

that increasing awareness about value of branded products, driven by the bourgeoning modern retail format and exposure to television would also have their impact on rural market.

• He said the urban market showed a good response to the experiment of using the oil company sales forces for distribution of LPG gas stoves and accessories and cookers as well. The company was contemplating to leverage the brand equity of the oil companies and Prestige to extend the experiment to the rural market.

CHART FOR HIS PRODUCT

PRODUCT

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• Mr. Jagannathan said “ When the Indian market is doing so well, we are not very keen on exports.

SALES GROWTH CHART