The distribution market has achieved remarkable growth due to huge demand for IT products, making distribution business more opportunistic in years to come. Fortune Marketing is one of the largest distribution houses currently serving the leading IT brands. The company offers wide range of products from all leading tech brands and serving the Indian customers across regions through its strong partner network. In a recent conversation with DT, Manoj Gupta, MD, Fortune Marketing talked about their performance, market growth, challenges and much more.
DT: Please share Overall Performance in Year 2021-2022.
Manoj: Fortune Marketing has done extremely well in the year 2022 and we have achieved 18% growth in last financial Year. Our performance has been driven by our strong effort to deliver value to our partners. We have worked quite terrifically and we are very much satisfied with what we have achieved this year.
DT: Please share target revenue or growth percentage to achieve by end of 2022-23.
Manoj: Based on our achievements currently, market trend and growing market sentiments, we are now focusing on 20 % growth by the end of 2022.
DT: What is your plan to strengthen your distribution business across all Indian market?
Manoj: Channel Partners are the backbone of our business. We always believe in the strong relationship and therefore we are always there to support our partners in every stream. We majorly focus on the marketing activities for our partners whether it would be – online & Offline. There are incentive schemes too on a quarterly basis, as per the objective defined to the channel partners. It includes Domestic & international trips, Special packages, and exclusive offers on products. We are also focused to strengthen our bond with the partners as we are organizing technical events in multiple cities and providing technical training to partners and their staff. Our such efforts help them in better understanding and they confidently pitch our products according to customer requirements.
DT: What all support do you expect from the brands for greater profitability & overall company growth?
Manoj: Distributors expect manufacturers to react to market changes quickly and design, create new, exciting products as per the demand. A distributor is always looking for that kind of WOW response from their clients. We as a distributor also expect that there should be proper marketing and brand awareness initiative from the brand so that customers are aware about the products.
DT: What as per you is two biggest challenges for distribution business in India?
Manoj: The Indian IT distribution market is huge and there are many opportunities for the market players. However, the challenges are still there that obstruct the market players to grow at full strength. The two biggest challenges for distribution business are competition with online Market places and disrupted supply chain.