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Mr Ajoy Shah, Chief Product Manager,JK Tyre, addressing students of Galgotias Business School at a Business Line Club lecture on ’Product & Brand Management’ at Greater Noida (Uttar Pradesh) on Tuesday.

Our Bureau

New Delhi, Nov 18

Companies should monitor their brand constantly and evolve itself according to the consumers needs. The essence of a good brand lies in managing customer expectation even while keeping an eye on the bottom-line.

Speaking at the Business Line Club lecture themed ‘Product and Brand Management’ held at Galgotias Business School, Mr Ajoy Shah, Chief Product Manager, JK Tyres, said, “When a product becomes a brand, it has to deliver a brand promise. Identifying and managing customer expectation is very important to the health of a brand”.

He said brand management involves analysing all aspects of a brand and then devising a strategic brand plan in order to build brand equity.

Noting that a good product is a result of a deep consumer insight, Mr Shah said every department in an organisation has to contribute for new product developments and also managing exiting brands.

Since product obsolescence is major challenge for any company, he said companies should analyse its brands performance in the market from time to time. Citing the examples of brands such as Toyota and Suzuki Motors, Mr Shah said these brands constantly innovated themselves to fine tune itself to the needs of the consumers despite having marques among its product portfolio.

“Service is one of the key differentiator between a good brand and a bad brand. Since it is all about delivering an experience, companies should ensure that they stick to their brand promise without deriding competition. The trick lies in managing customer expectation with consistent service and deliverables,” he added.

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