Sales and Leadership Wisdom from the Leaders,Madhavan Menon

Mr. Madhavan Menon, Chairman & MD of Thomas Cook, has more than 2 decades of experience in the Travel & tourism industry. I asked him, Is an Indian customer only looking at the price, or at value, or at value at the right price? He replied; first, the concept of value is heavily embedded in today’s younger generation. They are the future travelers, so I think it’s important. Travel is an aspiration for this generation.
When I buy a holiday, it’s intangible. I have visions in my mind of what I bought for a holiday, so the chances of my being disappointed are very high. Thomas Cook is a bundler of services owned and provided by third parties. You will appreciate that fulfilment is complex, tricky and requires a lot of experience. Thomas Cook through experience, training and well-honed processes is able to deliver a balanced product. I always internally preach to people that you can never get anything 100 percent right. However, what is important is how quickly you can retrieve a situation generated. So from a customer’s perspective, it is managing expectations. We are constantly trying to inject the management of expectations and simultaneously using technology to drive it. I am not saying we have perfected the art. But I believe we have invested a lot in perfecting delivery.
My personal belief is as much as price is an indicator, people also come to you by reputation. Brand loyalty is extremely important in this industry and is determined by word of mouth. But if you are able to manage expectations and retrieve situations, trust me, that loyalty exists. The loyalty to our two brands, SOTC and Thomas Cook, are high. A benchmark of brand loyalty is repeat customers and I can proudly say that to the Thomas Cook and SOTC have good repeat rates.

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