India is now brimming with Chinese products especially in the electronic category, however, there are many homegrown brands those stands still like the Ashoka pillar to stable the economy and proclaiming themselves as a leader. One of such brands is Quantum Hi-tech which established in 1992 New Delhi, India. The company deals in the consumer electronics, security solutions & IT hardware/peripherals. It has a network of over 200 distributors, 20,000-plus resellers and 20-plus service touch points pan-India. Quantum Hi-tech has been in the market from very long time and might have faced up and downs, so to know more about the company ethics, journey, strategy, products and more; we had an exclusive interview with Mr. Ashish Mutneja, CEO – Quantum Hi-tech.
We had asked him a few questions during the interaction; let’s see his views and perspectives…
First of all, we would like to know about Mr. Ashish Mutneja and his journey so far in the company?
Quantum started off on a very shoestring budget with very humble beginnings. Followed by a very dynamic growth pattern, Quantum in a very short span of time has built its own success story especially in the market where IT Solutions and Mobile/Computer accessories are most competitive; Quantum has made its mark among Top 10 Brands. Currently, Quantum has been among the top sellers in the category and also became a synonym for ‘being the Industry players’.
Like every other brand, we too had our set of challenges. Our initial challenges have been towards operations. Followed by bringing the latest technology and products defining the ongoing trends all bundled together to bring out excellent quality. With the IT Industry, the market is extremely volatile and one needs to keep up the pace. The underlined of the IT market remains that the market never goes off demand or off the trend, it always asks for something more and innovative. Today, Quantum has successfully balanced and struck the right chord with the consumers. Undoubtedly the journey has been exciting, a roller coaster ride but I strongly believe the best is yet to come.
Quantum was established long back, what are the major problems & challenges faced by the company to reach where it is now?
For Quantum Hi-Tech, quality is the cornerstone for every offering. As a company, we continuously strive on testing the products and evaluating to ensure high-quality technology is provided to the consumers. Though we have a team of experts when it comes to R & D there are few challenges which are probably faced by all the companies which are accurately understanding the needs of consumers and be able to satisfy it. The other challenge is to let the consumers make a differentiation among a brand which brings value for money products Vs Cheaper products, the Indian Mindset merges the both.
Which product category of Quantum has a stronghold in India and why?
Power Banks, one of the most essential on-the-go accessories has been the strongest product for Quantum. Today we have a range of Power Banks from 2000mAh to 25000mAh designed to match the lifestyle of the new age audience. Irregular electricity and weak power distribution in Tier II and Tier III markets shall necessitate the further growth. Overall we foresee, the Strong demand for Power Banks and WirelessAccessories shall further grow the market.
We believe Technological advancements are welcomed & VR Headsets, Protective Cases, WirelessEar-buds shall further establish its hold. Along with the evolution of the accessories market, the demand for headphones and back covers have increased gradually. Wireless Accessories will be a rage too.
The company said that they have a strong foothold in Tier 2 and Tier 3 Regions. What about Tier 1 cities?
Yes, we do have a strong foot-hold in Tier II and Tier III regions because the demand is stronger. To explore the Tier I regions, our plans are to strengthen distribution, build more on existing product architecture and introduce new categories, thereby increasing contribution share. As a Brand, we deeply study a market/new region to understand if there is anything that mattered to local consumers that had been overlooked by other brands and then make her next move.
What is Quantum’smarketing strategy for the year 2018-2019?
At Quantum, we aim to provide the best technology to consumers, enhancing the standards of living. Hence, our marketing strategies around our products in the country remain Quality and Technology. In India, affordability still has an edge when it comes to the product range which we cater to. Our key product portfolio includes Power banks, IT accessories, Mobile accessories and in this criterion what consumers look out for is a reputed quality brand with the right prices and this is where Quantum Hi-Tech has created its niche audience and has been able to cater to with a strong sales support.
Having said that, today’s consumers are not silent spectators or passive listeners. We are dealing with an empowered audience — engaged in real-time social and mobile conversations, but fragmented across many digital platforms. Understanding which, we shall be focussing on strong campaigns on digital platforms to build unique experiences for real-time consumer journey. An online-offline mix shall drive our marketing strategy for the year.
What are the changing trends you see in the 2018’s IT peripheral market?
The digital revolution and the government’s thrust on using technology to improve the delivery of its public services have opened up huge opportunities to develop and manufacture innovative products and solutions across the country. The consumption pattern too has undergone massive change – its more personalized, more technologically-driven and also has affordable price points as the key criteria along with superior quality. Lastly, Emerging technologies, such as artificial intelligence and the blockchain, are making their way into the mainstream and have the capacity to transform lives.
How would you differentiate your products and their quality from others?
Our strength remains to provide reliable IT solutions. Quality is the key element; Quantum products bring the new technology to users with several first timers in India. Lastly, we are a brand enjoy the first mover advantage against the competition of the category. Today, Quantum has sold more than a million products across India and is available in Tier II and Tier III cities where many brands are still competing space; our online model struck the right chord with the users. Being the leaders in the Power Bank, we dominate the market with 15%-20% of the category. We have the benefit of competitive pricing and a strong R&D team established for further innovation and development of the product. Having such competition keeps us up-to-date with the market and the current trends helps us cater to our audience with better service. Hence, such healthy competition is important as it motivates us to keep giving the desired results our customers expect from us.
Any plans to add some new product category in near future?
Audio shall be an interesting focus area from Quantum along with IT Accessories/Mobile Accessories. We shall also be looking at Smart Devices/IOT-based products – understanding how people have moved to a smarter lifestyle. In terms of verticals, Corporate& online sales for IOT products and offline channel for Audio category.
People now prefer the online purchase and transactions. How this effect on your traditional offline channel distribution system?
We still believe the future is the right mix of Online and Offline presence. Even when the Online sales were heating up and brands had the Online fever, Quantum chose to remain grounded and stuck to the traditional Method, because we understood the flip side of the coin before others did. Having said that, we have established a simple protocol; the products which we sell Online are not available offline with the same model no, and vice versa which keeps the ground clear for us, and that’s exactly how we would want our distribution to function.
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