May 26, 2011 (LBO) – Due to the growth of social media and the internet Sri Lankan firms have to be increasingly vigilant to safeguard the reputation of their brands among today’s well informed consumers, a senior executive said.
Brands build bonds with end users to ensure they continually consume their products.
Brand specialist say one way communication from brands to consumers is rapidly changing due to developments in Information Communication Technology (ICT).
“These companies are not communicating but I’m still getting information about them and that’s the environment in which we are operating today,” Sachi Thomas, the former head of GlaxoSmithKline operations in Sri Lanka said.
“So your reputation becomes increasingly important.”
Sachi Thomas was a panellist at the 35th LBR-LBO CEO Forum on ‘Building Brands and Changing Lives: CEO’s Role’ attended by several hundred senior corporate executives in Colombo.
The forum was sponsored by fixed line operator Sri Lankan Telecom.
Thomas said consumers are now talking to other consumers about their experiences with particular products or brands which manufacturers lack control to contain.
The recent explosion in social media like Face