Nirma, one of the leading names in the Indian detergent market, has been going through a rough time of late, after giving big names like HLL a run for their money. It seems the big players have cracked the mystery, and are now finding it easy to turn the table on Nirma.This interview probes the reasons behind this sudden reversal of fortunes.

Let me start by saying that despite all the glamour associated with innovation, I feel it remains an enigmatic human phenomenon: At the same time that it is invigorating, it is energy sapping too. Corporate innovation is like that. To resolve this dilemma, I believe the better approach is to consider innovation as an integral part of the company's product/service mission. This means selective innovation.

Having said that let me accept that there is no doubt that continuous innovation of products/services plays a crucial part in any company's long-term sustainability in the market. However, there are certain caveats to this proposition. Innovation of products/services must be in response to emerging customer needs and preferences. It should be tailored to the market demands, and at the same time fit in with the positioning of the company's products/services in the market. Any innovation that is just done to `keep up with the Joneses' or emerges out of a "me-too" strategy does not really serve the purpose. Witness the very low percentage of product/service ideas that reach the commercialization stage, and you would know the high mortality rate of ideas.

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