Value Is The Word! - A K Pandey f Miraj Marketing Corporation

Launched in January '94, Miraj Marketing Corporation (MMC) is today a well-known name in the trade circles of Delhi. All this because AK Pandey held on to his dream to make it big. The age-old adage 'small opportunities are often the beginning of great enterprises' holds true for Pandey.

Pandey had to leave his comfortable job as General Manager (Marketing) with Hindustan Magnetics Ltd, Hyderabad to get to Delhi by his ailing mother's bedside. And after her demise he decided to stay back to help his father. Banking on his understanding of storage media he set up MMC and hit the proverbial bull's eye. MMC clocked a turnover of Rs 2.2 crore in the very first year of operation with just Konica x-ray films, VHS and Betacam shooting tapes in its product basket.

Sound reputation

Sony India Limited appointed MMC as its first authorized dealer in India for storage products. And MMC did justice to Sony's trust. 1994-95 saw the company being adjudged the Best Sony dealer in the Asia Pacific region for their storage products. MMC continued to dominate the storage media market and for every year till 1998-99, MMC was awarded Best Sony dealer in the Asia Pacific region. No mean task this. With Sony deciding to broaden its network of dealers, the near monopoly-like state that MMC had created seemed to come to an

end.

Pandey too decided to expand his portfolio in 1997 and added Imation, Fuji and HP to his trading basket. "It hurt when Sony appointed new dealers", admits Pandey nostalgically, "but there were others avenues to be explored". Today, MMC also deals in the entire hardware range. With such a broad spectrum of products, MMC touched a figure of Rs 26 crore in 1999-2000 and expect to do Rs 40 crore in the next fiscal.

MMC has used newer products as a platform to launch itself on the growth path and Pandey feels this will keep him growing in the future too. New products, he feels, offer the maximum possible value addition.

MMC diluted its focus on networking, because its hands were filled with other things and Pandey realized that they would not be able to do a good job out of it. However they know that a potential market is lying there and expect networking to provide them an opportunity to exploit their excellent service facilities.

Service offers an excellent value add, and this has always been at the forefront for MMC. And to vouch for this are MMC's satisfied clients. "Pandey is a man who is a pleasure to do business with and delivery schedule and service with him seem like a non-issue" said James Kutty of

NDTV.

And it is not always that making money features as Pandey's top priority. Among the most vocal about the non-activity of Delhi traders association, Pandey has been instrumental in forming Computer Media Dealers Association-Delhi. His enthusiasm about providing a common platform for all in the trade is very infectious. With razor thin margins in the industry coupled with so many defaults in payments, the traders needed to come together. And this will help the traders flush out the element that is today tarnishing the Delhi traders' names.

Other than the association, the future of MMC is what drives Pandey. Pandey hopes to lay a foundation for MMC's future by venturing into areas that help him to not only add value but also do justice to whatever he hopes to do. MMC is looking at the future in a different perspective. His idea is to exploit opportunities that are being offered by creation of newer and newer markets. The accessories market is the area that Pandey is eyeing keenly for two main reasons, one, it is unorganized and two, the products are low value, but are critical to any system.

After having ventured into the hardware trade in April this year, Pandey has also been exposed to the upheavals in the market and this is precisely what led him to think of getting into retailing in a big way. "With MMC getting into retailing, we will value by not moving boxes alone, but we will provide a complete solution to the end user", with this Pandey tied all the loose threads of addressing an unorganized market, value addition and exploiting the opportunity that a new concept is throwing open.

Balance between corporate and SOHO

"When I started I was supplying to nearly 400 end-consumers and today have only a handful of them", a little repentant about his inability in supplying to the end-consumer directly, Pandey now wants to strike a right balance between the corporate sector and the SOHO.

Another goal that he has set for himself is to move his yet unchristened retail solution stop outside Delhi and have franchisee outlets spread across the country. His philosophy to value add comes to the forefront yet again, "I will not impose upon my franchisees to source their requirements from me, I will want them to ensure that the promise to deliver a solution is kept".

A right customer mix, a detailed retailing strategy and focus to value add will move MMC towards a brighter tomorrow faster. Success, he says, comes sooner or later, but the important thing is to be objective in one's outlook and to clearly define where one has to go.