Perfect timing is everything. Even Cindrella couldn't escape the importance of time. So what's the case with luxury brands?
By: Karishma Parkash
Posted on: March 10, 2011
Perfect timing is everything. Even Cinderella couldn’t escape the importance of time. So what’s the case with luxury brands?
Limited in hand and goes by in a flash of seconds before you even realize it, time is important to one and all. Whether for a luxury brand on the Upper East Side of Manhattan or for a novice layman on the lazy beaches of the world, time is an imperative asset and must be managed well to succeed. A launch of a product, if timed well as per the needs of the targeted market, can be a huge disaster if done otherwise. Finding a consumer’s needs to satiate at the correct time is half the battle won – and brands understand the vitality and dynamics of perfect timing.
All for one, one for all
Put very simply by Chef Manu, executive chef of Olive Bar and Kitchen, Mumbai, “Time is a commodity that is always in very short supply and very high on demand!” Perfectly said, time is the most important factor of all jobs, big or small. Timely deliveries and timely actions - be it of a piece of furniture or an entire meal, speaks about the order of an organization.
According to Vasant Nangia, country manager of Fossil India – distributor of Emporio Armani and DKNY watches - when one enjoys their work, time becomes secondary but not unimportant! “Fossil is in the business of fashion, and time is integral to its mission. Since we make about 25 million timepieces a year, you can say time is very important,” he said.
“Every activity in life needs three inputs - material goods, skills and time. Time is money - we need time to work, eat and accomplish all daily chores of living, maintain our relationships...the list is never ending!” said Shahnaz Mahimtura, a partner at Lista City, a Mumbai store housing luxurious, high-end Italian furniture and accessories.
Avni Amlani, Education Director, Dermalogica India, said “Timing the launch of products is equally vital within the skin care industry as any other industry. For example, if we are to launch a sun care range, it would be ideal to do this just prior to the summer season, and it would be almost suicidal to launch this range in the monsoon months. However the marketing campaigns need to be planned and executed much in advance to ensure that the launch leads to successful sale of the products”. Changing season has an impact on the sales of skincare products, therefore all the advertising and marketing has to be strategically planned.
Is it time yet?
According to Aashim Mongia, Director of West Coast Marine, time is the most critical element. “Especially in the service industry, time is an important asset. In the yachting world, the people we deal with are some of the most important people in the country. Time for them is the most precious commodity - so it is the one thing we value. If our client needs his boat pick at 3 pm, we not only make sure that the boat is there half an hour early, but we also keep a back boat in case of any chaos / mechanical issues.” Order of the day? There is no time to waste and time waits for no one!
Well put by Nangia, timeliness is a courtesy that you show to others - that you value their time. “It is a motto you follow at work - to get your tasks done in a timely manner. And it is a way of living your life - timeliness is the antidote to the tension of ‘Oh I am going to miss that flight!’” he said.
Timeliness teaches one to take a fresh bite of the apple before the competition does, and teaches you the practical part of your school education – ‘The early bird catches the worm’. Consumers are always on the lookout for something new and innovative. So Chef Manu twists the words and advises taking the first bite of a ‘Fresh Apple’! Becoming a king in a new and innovative sector at the right time might be more beneficial than being a jack in a variety of sectors, but then again – you never know until you try, right?
Understanding what your target market needs at the correct time, has helped many a brand to take a giant leap ahead. Agreeing with this, Mongia said “Yachting in India is a new market and locating trends is critical to our growth. We are, for example, the first company for many things like bringing yacht finance to India, dealing with large scale yacht refits, launching an RYA affiliated training school and even the first and only company working as a yachts agent.”
Actions are louder than words?
Stressing on the importance of perfect timing, it is essential to always remember that time once lost cannot be got back. Shares Mongia, “As I mentioned, we deal with some of the richest and most important people in the country and for these people, time is of the essence. If you get to a meeting even five minutes late, you risk not getting a slot again with the client and that could make or break a contract worth a lot of money.” People always say, act on it quick enough and it’s your gain! Take your own sweet time, and it’s your loss.
Mahimtura advises to pay attention to your actions at all times. “Actions are always more impactful, more than you can say, and you win the hearts of many - personally and professionally,” she said. Sensibly agreeing, Nangia put equal importance on the two and said, “Great words drive people to action. Great actions get written about for generations!” Another form of action, the kitchen has its own rules and everyone must follow them to woo their consumers with a perfectly cooked meal in the shortest amount of time. “Sign Language - in a kitchen a finger often goes a long way!” says Chef Manu.
So, for all the brands reading this, there are a million consumers waiting out there. It’s time to woo them!