Gundeep Singh, managing director, Ideal Concepts, spoke to FE Enterprise on how did he get the idea of Chain Reaction and what problems he faces. Excerpts
How did this idea come into existence?
When I was studying in Harvard, Amway launched a similar concept their. After coming back I surveyed the Indian market and realised there was a huge void between manufacturing cost and selling price. This gap was nothing but dealer margins and maintenance cost which did not add anything to the value of the product. Then I thought of cutting this cost to pass on the benefits to the customers and that ignited the chain reaction.
Do you think the Indian market is ready for selling ideas instead of real products?
Selling an idea instead of real product to Indian customer is comparatively difficult, but not impossible. Our concept is based on hard core logic and once the logistics behind the concept is understood by the customer, the idea makes space for itself.
What are the problemsfaced by your company?
Building credibility among sceptical people will definitely takes more time. Second problem is the lethargic attitude of the people here. They take too much time in deciding things which creates unnecessary delays.
What do you think the future of such concepts in the Indian market?
Though there are many problems, but our determination is strong and we will surely succeed.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.