The ICT market across the world has been seeing ground breaking innovations that are making life easier and more entertaining. The demand of such innovative products is dynamically increasing and it encourage brands to bring more consumer-friendly products. Astrum enables people to get hands on new technology. It produces several products like mobile accessories and audio products. Manoj Kumar Pansari, Chairman & Managing Director, CMD, Astrum further speaks with DT about their market strategies and upcoming product portfolio.
DT: How has been the year 2018 for you?
Mr. Manoj: The Year 2018 has been quite exciting for us. We have been the proud recipient of many awards at global level, starting from Design Innovation awards for specific products to Business Achievement awards, from Editors Choice Awards to Jury Awards and the most recent award of The Most Trusted Brand in Hong Kong.
This year we have been quite successful to break the trade-off between innovation, quality and cost. Our widening product portfolio has also seen a positive response amongst consumers and acceptance from the Indian Markets. Today Astrum has proudly earned its place amongst the leading brands for accessories in India. And is expanding its dealership across India, along with key focus to the east. We have also extended our Support centers at the consumer touch points, to serve the market better.
DT: How are you currently working with your partners to strengthen your market position?
Mr. Manoj: From offline to online, Astrum has set a firm foothold in the Indian market. Being one of the competent brands present today, we are currently persistent to reach 10x increase in channel breadth during this fiscal year. To achieve this, we have a multi-pronged approach which includes several channel friendly schemes and policies in our journey towards a long-term association with our partners. We have created a professional eco-system, budding with our partners and outspreading our reach. Our motto still remains to drive the workflow even better at every step, establishing stronger connect across the markets. We are a very channel friendly company and believe in growing with our channel partners.
DT: What is your overall roadmap to escalate your growth further in CY 2019?
Mr. Manoj: We have recently established our presence in the North and South Region and have also made deep in-roads in Tier 2 and Tier 3 cities. Currently, we are setting up our first manufacturing plant facility in Andhra Pradesh, India which shall manufacture Power Banks followed by Mobile chargers, Cables and speakers, which would in turn reduce the Turn Around Time(TAT) between new technologies to the Indian consumer. The facility is also going to cater to our global markets and will abide by our stringent quality standards. We have been consistently registering growth month on month both in terms of revenue as well as Market Penetration. With the current focus on setting up the factory and simultaneously establishing in all markets, we want a stronger connect with the Consumers. Our Vison remains to bring products that shall redefine the Consumer experience on innovation, quality and Cost. Considering which we have several new technologies in pipeline in both Wearables and Audio Category. We are also working upon the IOT solutions.
DT: What are your suggestions to policy makers to counter any existing business challenges in ICT market?
Mr. Manoj: Business ideas alone are worth very little. If you want to start a business and become successful with it, you need to solve meaningful problems for your target audience. Execution is everything in business as it takes a lot to start a business and grow it to profitability and ICT market is like support for economic growth because of their crosscutting nature. Many a times, changes in law creates difficulties and challenges for many Brands. Company should facilitate acquisition of basic, applicable and affordable ICTs equipment and promote stakeholder participation and partnerships with provision of ICTs services and resources development. Other things like lack of domain expertise in talent is major issue that the industry is currently contending with, along with the withdrawal of tax benefits. Given the tough competition prevalent in the industry, there is immense pressure amongst companies to offer competitive pricing, in the recent past. Therefore it is important to build up structures for successful usage of ICTs strategies by balancing both Manufacturer’s and officials equally on rules.