What according to you are the strategies Nirma should adopt to retain its customers loyalty and regain its No.2 position in the market?
Conventional wisdom could say that Nirma can embark on a series of short-term measures to tinker with its strategy and manage to keep afloat. However, that is the worst thing that can happen, though I feel it might also be the most likely thing to happen since that seems to be the obvious solution. In my opinion, ideally what is required is a fundamental shift in its thinking, whereby it revises its assumptions that makes it rethink its implicit and explicit theories about its business. Going back to the heady days of 1990s when Nirma was making rapid forays into the markets and challenging HLL, one can recall the euphoria that Nirma generated not only in the markets and industry, but also in the academic circles Take for instance the case of customer loyalty. Just like employee loyalty, customer loyalty is a chimera. I think any company trying to gain or regain customer loyalty is living in a fool’s paradise. The Indian market-as is the case with Indian society – is fast becoming a tr
