Interview: Jitin Masand, Chairman and Managing Director at Okie Electronics

An Exclusive interview with Jitin Masand, Chairman and Managing Director at Okie Electronics

Jitin Masand is Founder, Chairman, and Managing Director at Okie Electronics, India’s leading, homegrown electronics brand focused on creating an immersive experience for its customers.

Jitin, a postgraduate in Business Administration, comes with over 18 years of experience in the mobile and electronics business and is proficient in trading and business development.

He has always been drawn to the world of electronics, and since 2008,& has been actively involved in the trading of mobile phones and other electronic devices.

However, what inspired him to start OKIE Electronics was the realisation of a significant gap in the market for innovative, high-quality gadgets and entertainment products in tier 2 and 3 markets.

After extensive market research, He observed a shift in buying patterns in these markets, and  saw an opportunity to offer the right products at the right price.

Hence, OKIE Electronics was established to address this gap by providing our customers with top-of-the-line products that not only meet their needs but exceed their expectations.

Goal is to become the go-to destination for cutting-edge gadgets and entertainment products in these markets, and he is excited about the opportunities that lie ahead.

Brief us about your background and what inspired you to start OKIE Electronics.

I have always been drawn to the world of electronics, and since 2008, I have been actively involved in the trading of mobile phones and other electronic devices.

However, what inspired me to start OKIE Electronics was the realisation of a significant gap in the market for innovative, high-quality gadgets and entertainment products in tier 2 and 3 markets.

After extensive market research, I observed a shift in buying patterns in these markets, and I saw an opportunity to offer the right products at the right price.

Hence, OKIE Electronics was established to address this gap by providing our customers with top-of-the-line products that not only meet their needs but exceed their expectations.

Our goal is to become the go-to destination for cutting-edge gadgets and entertainment products in these markets, and we are excited about the opportunities that lie ahead.

We believe that our unique combination of passion for electronics, market insights, and commitment to customer satisfaction will enable us to make a significant impact in the industry.

We look forward to growing our business and continuing to serve our customers with the best products and services available.

What sets the products and services offered by OKIE Electronics apart from other companies?

Jitin Masand: At OKIE Electronics, we take great pride in our products and services, which are truly unique and set us apart from other companies in the industry.

One of the key things that distinguish us is our focus on entertainment products, specifically LED TVs and sound systems.

We understand that TVs are not just a luxury but an essential part of every household’s entertainment experience, and we strive to make this experience as enjoyable and personalised as possible.

Our LED TVs are equipped with cutting-edge technology that is specially designed to meet the needs of our customers.

We understand that picture quality is not the only thing that matters, and so we have incorporated a specially fitted Boom sound technology that delivers a purely cinematic experience to our users.

This technology ensures that you not only see but also hear every detail, creating a truly immersive viewing experience.

Another factor that sets us apart is our commitment to bringing the latest technologies to our customers at an affordable price.

We believe that everyone should have access to the latest advancements in entertainment technology, regardless of where they live or their financial status.

Because of this, we put out a lot of effort to provide clients in smaller cities with the newest technology more quickly than our competitors do and at a price that is reasonable for everyone.

Therefore, we believe that our products and services truly stand out in the market and provide our customers with a unique and enjoyable experience.

How do you see the smart TV industry evolving in the next 5-10 years?

Jitin Masand: Having closely monitored the development of the smart TV industry, I must express my great enthusiasm for its future.

It is widely known that the market for smart TVs is already substantial, nearing 80,000 crores and projected to experience a rapid growth rate of approximately 16.7% over the next five years.

From my perspective, one of the most exciting things about this growth is the way it’s driving innovation across the entire industry.

We’re seeing new players emerge with innovative technologies that are pushing the boundaries of what’s possible with smart TVs.

At OKIE, we have experienced this growth first-hand. Despite the negative impact of the COVID pandemic on business operations, we were able to sell almost 1 lakh TV sets across 7 states by the end of the fiscal year 2022-2023.

This serves as evidence of the swift adoption of smart TVs and the increasing demand for advanced features and functionalities among consumers.

Looking forward, I believe that the smart TV industry will continue to grow and evolve in exciting ways.

We’ll see more advancements in areas like artificial intelligence, and virtual and augmented reality, which will make for a truly immersive and personalised viewing experience.

There will also be a greater emphasis on smart TV security as these devices become more connected and collect more personal data.

How do you plan to stay ahead in the industry with the developing technologies?

Jitin Masand: Being an individual with a profound passion for staying at the forefront of technological progress, I strongly feel that it is vital to continuously stay abreast of the most recent advancements and trends in the industry.

This entails not only remaining current with novel technological developments and improvements but also taking initiative in swiftly introducing newer technology to customers.

In addition, I firmly believe that one of the most critical ways to stay ahead in the industry is by building a robust supply chain.

By establishing key local warehouses and service centres, we can ensure that our customers receive their orders in a timely manner and that they have access to after-sales support that meets their needs.

To me, it is all about finding innovative ways to solve problems and staying ahead of the curve. By investing in both technology and supply chain management, we can create a seamless experience for our customers and continue to push the boundaries of what is possible in the industry.

Ultimately, it is our commitment to innovation and customer satisfaction that will keep us ahead of the competition in the years to come.

Mention a few challenges your customers face and how do you deal with them.

Jitin Masand: At our company, we primarily focus on tier 2-3 markets, which presents a unique set of challenges when it comes to communication and training for our customers.

One of the main challenges our customers face is staying up-to-date with the latest features of our products.

This is because the communication channels in these markets are not as robust as in larger markets, which can make it difficult to get the word out about new features and updates.

To address this challenge, we have implemented a robust training and support system for our retailers. We understand the importance of effective communication, which is why we make sure that our retailers are well-versed in the latest features of our products.

This includes providing regular training sessions, as well as offering ongoing support to address any queries or concerns that may arise.

We believe that by investing in our retailers, we can help ensure that our customers have the best possible experience with our products.

We are committed to providing the highest level of service and support to our customers, no matter where they are located.

What are the important things one should keep in mind to provide a better user experience?

Jitin Masand: To create a better user experience, there are a few key factors that I believe are essential to keep in mind.

First and foremost, it is important to remember that the customer is king and ever-demanding. This means that we need to focus on understanding their needs and preferences to provide a personalised experience that caters to their unique requirements.

We always strive to exceed their expectations by providing exceptional service, prompt responses to queries and concerns, and personalised attention to their needs.

Secondly, knowledge about the product and its features is crucial for creating a better user experience. We ensure that the customers have access to all the necessary information about our products and services and that this information is communicated effectively.

This can include product demonstrations, detailed descriptions, and user-friendly manuals that are easy to understand.

Thirdly, a good buying experience is critical for creating a positive user experience. This includes providing fast and secure payment options, seamless checkout processes, and prompt delivery or installation services.

Customers appreciate a hassle-free and convenient buying experience, and this can help to build loyalty and repeat business.

Finally, after-sales support is a crucial aspect of providing a better user experience. We need to ensure that customers have access to prompt and effective support whenever they need it.

This can include troubleshooting, warranty and maintenance services, and helpful tips and advice on how to get the most out of our products.

How is OKIE TV different from other players in the same segment?

Jitin Masand: At OKIE Electronics, we believe in providing our users with a truly immersive cinematic experience.

Our TVs are equipped with specially fitted Boom sound technology that brings the action to life, making you feel like you’re right in the middle of the scene.

This sets us apart from other players in the segment, who may not focus as much on the audio experience.

In addition, we pride ourselves on our ability to bring the latest technologies to our markets quickly and at affordable pricing.

We understand that our users want the latest features, and we strive to deliver on that promise. At OKIE Electronics, we’re committed to providing our users with the best possible experience, and we’re always looking for ways to innovate and improve.

What are the key markets for electronic devices and why?

Jitin Masand: The key markets for electronic devices have shifted in recent years due to a variety of factors.

While developed countries have traditionally been the largest consumers of electronics, we’re now seeing rapid growth in tier 2 and 3 markets.

These regions are experiencing a surge in demand due to factors such as increasing access to the Internet, a more informed customer base, and a growing population of tech-savvy younger generations.

One area where we’re seeing particularly strong growth is in the Smart TV market. With the availability of millions of content and OTT channels for infotainment and entertainment consumption, consumers in these regions are increasingly turning to Smart TVs to fulfil their needs.

As a result, we’re seeing a significant increase in sales and market share for Smart TV manufacturers in these regions.

Read more Success stories of Indian entrepreneurs, Women Entrepreneurs & startups stories at SugerMint. Follow us on Twitter, Instagram, Facebook, LinkedIn