- Customers tend to get committed to innovative products
Interview with Mr. Rafiq Rangoonwala — CEO, Quick Food Industry (Mon Salwa)
PAGE: Tell me something about yourself, please:
Rafiq Rangoonwala:Â I started my career in Houston, Texas in 1980 with KFC, USA. Presently I am working as CEO of Quick Food Industry (Mon Salwa). I have extensive experience of over 40 years in creating, building and leading key fast food brands in Pakistan and across the globe including, KFC, Burger King, TGIF, Hardees, Pizza Hut, Wendy’s and Harry Ramsden, etc.
Currently, I am on the Advisory Board of Ijara Capital, Advisor to Bahria University Karachi, a Member Scientific Panel at Sindh Food Authority and also am the founder member and President of the Pakistan Food Association.
I was elected twice as the President of the Marketing Association of Pakistan, President of Memon Professional Forum, Vice President Karachi Business Forum and Think Tank. I have also contributed in philanthropy as Founder President Emaan Welfare Society, Chairman Advisory Board of Help International Trust and Trustee Sina Health, Education and Welfare Trust.
PAGE: Could you share your experience of introducing foreign brands in Pakistan?
Rafiq Rangoonwala:Â I have worked with expanded brands like KFC, Burger King, TGI Fridays in Pakistan, besides developing local brands like Indulge, CASA, My Store etc.
PAGE: Which local brands launched by you have fared well?
Rafiq Rangoonwala:Â All brands did well during my association with them, specially KFC.
PAGE: Brand equity is the worth of a brand. What is your perspective on it?
Rafiq Rangoonwala:Â Yes, that’s true for companies that has intellectual assets but tangible assets also add up to the total worth of a brand. A company without brand equity would have a significantly low valuation.
PAGE: Brand management begins with an analysis of how a brand is currently perceived in the market. Your views:
Rafiq Rangoonwala:Â That’s common sense. How can one manage or any brand without understanding its position and perception in the consumer’s mind. The absence of such knowledge would not only result in misdirected marketing initiatives wasting precious time and money. This is a first step towards brand building and sustaining its image.
PAGE: How would you comment on brand loyalty?
Rafiq Rangoonwala:Â Well how else can one be loyal if he/she jumps from brand to brand because of a new brand entry, price, advertising, packaging etc. A loyal customer would stick to a brand regardless of what the competition offers, but the brand has to stay relevant by offering new innovative exciting products and services.