Webinar under Expert Talk Series at GL Bajaj Institute of Management & Research. PGDM Institute, Greater Noida
GL Bajaj Institute of Management & Research. PGDM Institute, Greater Noida organized Webinar under Expert Talk Series on “Brands: Problem of Fakes & Grassroots” on Saturday, October 17, 2020 for the students of PGDM Batch 2020-22 under the patronage of Mr. Pankaj Agarwal, Vice Chairman, GL Bajaj Educational Institutions. The speaker of the session was Mr. Suresh Sati, Chief Strategist & Accelerator, Fake Free India.
The session started with an invocation to Goddess Saraswati. During the session, Mr. Suresh Sati shared that fake brands exist in almost every industry nowadays. He explained that customers get attracted to brands and in the name of brand quality, they often get cheated. He added that out of numerous fake brands present in the market, people were using many products on a routine basis in their daily lives. He also shared that according to a report by Indian Institute of Public Administration, 50% of products that were used in rural areas were fake, whereas in urban areas, people were running behind brands without evaluating their authenticity. He added that fake brands and fake FMCG products badly impact the immune system. He emphasized that it’s a global problem and stated that effective implementation of authenticated new policies and customer awareness would play a key role in the eradication of fake brands from the market. He also suggested that companies must have a proper budget for the protection of their brand and guided them to work strategically so that fake products of their brand won't be able to sustain in the market. He concluded that everyone needs to change their perspective towards this problem for the growth of the economy.
At the end, Mr. Suresh Sati was awarded an Honorary Membership of Global Advisory Council (ICPEI) as a token of appreciation for his invaluable contribution towards industry-academia collaboration.
This session helped the students to understand the problems that brands face and how they save their brands from being counterfeited.