AMITY UNIVERSTIY

UTTAR PRADESH

Report On

PRODUCT & BRAND MANAGEMENT

by
ADITI AGRAWAL

A0102218028

MBA (M&S) Class of 2018-2020

to

Dr. Shiv Shankar Kumar Yadav

In Partial Fulfilment of the Requirements for the Degree of

Master of Business Administration At

AMITY BUISNESS SCHOOL

AMITY UNIVERSITY UTTAR PRADESH
SECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA
 1. Product Feature Matrix

Alto 800 GO EON

Model A Magna+

Features

Engine CC 998 1198 814

Power 50@ 6000 50@5000 41@5500

Output (kW
@rpm)

Fuel Tank 35 35 32
Capacity
(L)

Overall 3545 3785 3495

Length
(mm)

Overall 1490/1515* 1635 1550

Width (mm)

Overall 1475 1485 1500

Height
(mm)
Wheelbase 2360 2450 2380
(mm)

Ground 160 170 NA

Clearance
(mm)
Turning 4.6 4.6 NA
Radius (m)
2.

Artificial intelligence (AI) is the ability of a computer program or a machine to think and
learn. It is also a field of study which tries to make computers "smart". It refers to “a system
capable of rationally solving complex problems or taking appropriate actions to achieve its
goals in whatever real-world circumstances it encounters.”

Machine learning is what gives AI the ability to “think” for itself. By using a set of defined
algorithms and data, programmers have created computers, apps, websites, and more
that enhance user experience. Through machine learning, apps learn from repeated user
actions to give them recommendations or specific information.

Here are a few examples:

 Based on your preferences, habits, and ongoing selections, Netflix offers up related
recommendations.

 Tesla's self-driving cars use their predictive capabilities and enhanced driving features
to seemingly make navigational decisions with minimal human intervention.

 Apple's Siri predicts user questions and offers up the most relevant resources.

AI is growing at a rapid pace. It seems with every passing month a new, innovative
product is introduced. There's no escaping the fact that AI is the future of product
efficiency. It's here to stay, and part of your job will be to understand and implement
it.

In general use, the term "artificial intelligence" means a machine which mimics human
cognition. At least some of the things we associate with other minds, such as learning and
problem solving can be done by computers, though not in the same way as we do.

Example of Siri and Alexa

Alexa and Siri, Amazon and Apple’s digital voice assistants, are much more than a
convenient tool—they are very real applications of artificial intelligence that is increasingly
integral to our daily life. They both rely on natural language generation and processing and
machine learning, forms of artificial intelligence, in order to effectively operate and perform
better over time.

Natural Language Generation and Processing

The very complex process of writing and speaking that humans take for granted was a
challenge for computer scientists to unravel and replicate. The growing sophistication of
natural language processing and natural language generation, subsets of artificial intelligence,
take in data, process it and create natural language that sounds as if a human were actually
speaking or writing it. Natural language processing (NLP) is the ability of a machine to
“read” or “understand” the content produced by humans, e.g. By writing or speaking. Natural
language generation (NLG) refers to a machine’s ability to create content in either written or
spoken language so that it can be understood by humans.

Machine Learning Help Alexa and Siri Learn

Machine learning is the application of artificial intelligence where machines are given access
to data and then can learn from it rather than needing to be programmed by humans what to
think and do about the data.

Every time Alexa or Siri make a mistake when responding to your request, it uses the data it
receives based on how it responded to the original query to improve the next time. If an error
was made, it takes that data and learns from it. If the response was favourable, the system
notes that as well.

Data and machine learning are responsible for the explosive growth of digital voice
assistants. They continue to get better with the more experiences they have and the data they
accumulate.  

How Do Voice-Activated Digital Assistants Work?

When you make a request of Alexa or Siri, the microphone on the device you are using
records your command. This recording is sent to over the internet to the cloud. So, if you
don’t have internet service, your digital voice assistants won’t be able to work. If you are
talking to Alexa, the recording is sent to Alexa Voice Services (AVS).  This cloud-based
service will review the recording and interpret your request. Then, the system will send a
relevant response back to the device.

If you asked, “What’s the weather going to be like today, ” a relevant response is audio
detailing the day’s forecast. This all happens in a mere moment. Telling you the day’s
forecast is just one of the more than 70,000 skills Alexa can do. The way the company
reached this extraordinary amount in such a short amount of time and is able to continue to
increase the number of skills Alexa can accomplish is achieved by Amazon giving developers
free access to AVS so that they can keep building skills to augment the system. Currently,
there are more than 28,000 smart home devices that can work with Alexa.

Machine Learning Enabled Tremendous Growth

Alexa and Siri continue to get smarter. Alexa has learned how to carry over the conversation
from one question to the next the way humans can handle follow-up questions. And, if you
don’t know the exact name of a skill you want Alexa to do, if you get close, it will likely be
able to summon what you want. In addition, through Alexa Hunches and smart home
connected devices, the assistant will be able to alert you if a regular pattern hasn’t been
followed such as lights being left on or a door unlocked and offer to fix it for you. Apple’s
Siri is now able to sort through background noise and loud music to “wake.” These represent
big leaps toward a more conversational and capable voice assistant than what was available
just a few years ago.

HOW ARTIFICIAL INTELLIGENCE WILL ENHANCE BRAND

MANAGEMENT
In Today’s business world, how a business is perceived in the market matters most. Ideally, your
brand represents who your company is and what it stands for. Marketing managers and product
managers must work closely to guard the overall brand. By definition, we can say that
brand management is the discipline of crafting, defining, positioning, sustaining, and
delivering a brand value to your clients.
Artificial Intelligence (AI) is one of the technologies businesses can leverage to enhance
brand management. According to tutorialspoint.com, Artificial Intelligence refers to a way of
making a computer-controlled robot think intelligently in a similar manner a human being
would think. A good example of a company that uses AI to offer better customer experience
is the outdoor retailer North Face. Through their IBM’s AI supercomputer Watson, the
company offers customers personalized experience as they shop. For instance, if a customer
is searching for hiking gear, the AI system asks the customer where they intend to go hiking
and which day. Based on the feedback entered, the system recommends the appropriate gear
to the customer that suits the weather and the hike activities.

A machine with the ability to perform cognitive functions such as perceiving, learning,
reasoning and solve problems are deemed to hold an artificial intelligence. Artificial
intelligence exists when a machine has cognitive ability. The benchmark for AI is the human
level concerning reasoning, speech, and vision.

Artificial Intelligence and Product Development-

To speed up development time companies are increasingly turning to AI, which can simulate
and accelerate research processes. AI can synthesise all available information and suggest
hundreds of variants of a design – the engineer can then choose which to pursue. For
example, Titan Company, part of Tata Group based in Bangalore, India, is using AI to design
its new range of personal accessories. Organisations can use AI to improve their products and
services, adding features to make them more ergonomic, efficient and safe.
As well as product design, open innovation – generating as many as ideas as possible –
before narrowing down to a single idea, can be used to invent entirely new products.
Information from a range of sectors can be fed into the AI technology and processed into a
product – converging knowledge from a range of sectors into an interdisciplinary idea, much
like a polymath would have during the Renaissance.
In the pharmaceutical industry, AI has been a powerful tool to identify targets for drug
development, sifting through biological data to locate suitable proteins to target. This process
would previously have been slow and laborious, but can now be done more efficiently,
helping new drugs be discovered and come to market more quickly.
AI enables the rapid processing of data from all relevant industry sectors. This tool could lead
to the discovery of creative and innovative new technologies by identifying patterns not
visible to the human eye. Instead of relying on an inventor to have a big idea, or, as in the
case of the microwave, Velcro and penicillin – a serendipitous accident – AI could be a
significant aid to product development, with nothing left to chance.
Artificial intelligence has already started to be rolled out on various sectors of the
development and design field. Machines tend to learn faster and better than humans. This
means that a machine can be able to identify things that a human cannot so easily identify.
Even so, there are a few things that AI will do for humans to their benefit:

Increasing people’s life spans- by taking over the more dangerous jobs such as mining and
increasing safety automation in the manufacturing industries. For example, artificial
intelligence can do a lot in automating automotive safety, analyzing data to determine
whether a product is structurally sound.

Lowering the cost of doing business in manufacturing and design -since the overall cost
of machines is significantly lower than human labor. This, therefore, means that industries
will use less developing products and as such the cost of commodities will also reduce
making products more affordable to the populous.

Helping human beings produce better products- Artificial intelligence can help people in
this regard in two ways. The first is by taking away the dull, mundane and repetitive tasks off
our hands. The second way is getting us the best information for the job so that we can
produce higher quality goods.
Artificial intelligence is meant to help people have an easier, more fulfilling life and not to
take it away. Especially in the field of product design and development, AI can come in very
handy.

Automated testing of features- When working in product management, you will quickly
note that there is always a shortage of quality assurance engineers and analysts. This means
that ensuring a product has a standard of quality has fallen in product management. This is
manifested by the fact that testing product features take about 30-50% of the work before it’s
approved for production. 30-50% of a production manager’s time is quite a lot. This time
could have more productively been used on aspects such as user research and even
competition research.
A more automated approach is best in manufacturing because if a QA engineer has to do the
product testing themselves, they may become a potential blocker of the product. If the project
manager and QA engineers are busy, it might derail the production schedule of a product. AI
can test the product or feature as an actual user using the thousands of user sessions to find
bugs in the system that a normal QA or PM would have missed.

Assisting with User Experience and Design- One of the toughest phases of a project is
designing its user experience. For every product to be a success, it must resonate with the
users. The users must feel like the product is easy to use and in some cases, even fun to use.
The design process of any product uses a lot of creative muscle. This is especially so since
the team must think about how the product will be used, validate those thoughts, imagine out
of the box cases and which ones should and shouldn’t be supported and brainstorm which
design will better embrace the objectives of the business and give value to the client sooner.
All these are troubles AI can solve thus making life a bit easier for the designers. Artificial
intelligence is a huge learning potential. Armed with data about how people use a certain
product, a team can then build better designs for all types of products. Behavioral data can
also be used to help the engineers know which edge cases are most frequent and as such
come up with a way to help users overcome such instances.
In the design aspect, the most exciting thing about artificial intelligence is that it will be able
to let the team know beforehand during the design phase whether or not a specific design will
be successful or will flop. The AI can go through the proposed user flow and determine
whether a user can complete a desired action or not. This saves the company from having to
build multiple iterations of a product for testing. All you have to do is run all the designs
through a simulation or design mocks to determine which version is better. For an
organization heavily reliant on manufacturing, this technology can save the company millions
in terms of research and development. It’s so because the company will have less wastage of
time and resources which is always a plus.

AI in Product/Brand Management:

• Better User Experience: The most important aspect of a successful brand management is
great customer experience. When the content is relevant to the user, they are more likely to
convert and become recurring customers and have brand loyalty. Artificial intelligence can
significantly help with that in its ability to collect data and decide which content is the most
applicable based on things like location, historical data and past behaviour. Example: For
retail, AI can be a game changer for online shopping experiences with new advancements in
augmented reality where customers can actually “try” a product before making a purchase.
There are now apps where customer can actually “try on” clothes to see how items will look
on them without ever stepping foot into the store. This means less dissatisfied customers,
lower returns and higher engagement online for a brand.

• Predictive Customer Behaviour: Not only can AI personalize a customer experience on past
behaviour, but it can also predict behaviour for new and existing users. With the help of data
management platforms (DMP) collecting second and third-party data now, AI can collect
information about your users across the internet and not just in a session on your site. This
can help personalize to their needs automatically through journeys and profiles enabling you
to target your potential leads and eliminating those unlikely to convert enabling you to
concentrate on formulating and executing effective marketing strategies.

• Real-time customer support: One of the biggest thing’s customers look for in a good digital
experience is quick resolutions and response. With the introduction of AI chatbots, an
automated tool that gives the impression of talking to an actual customer service person in
real time, AI can deliver that experience in real time.

• Brand advocacy: Another Key Strength of AI and Machine learning is the ability to identify and
align areas of creative opportunity with influencers. With unstructured social data, brand
marketers can identify key influencers around growth areas as well as understanding the type of
content that is resonating with their followers. Example: Kia Motors used machine learning to
identify which social media influencers to work with for the 2016 Super Bowl. AI was used to
understand which influencers matched specific personality types. Once identified, the car
company activated an influencer strategy to enable the spread of the campaign.

• Product Portfolio Enhancement: Companies can leverage AI systems to identify product

enhancement and expansion opportunities within their portfolios. By creating taxonomies
around consumer conversations, companies can gain insights into new products or identify
future directions for features and designs of products within your existing portfolio.

• Consumer insights: AI is not bound by volume or memory capacity and can be taught to
learn an almost infinite number of different types of structured and unstructured data sets.
Structured data sets can be 1st, 2nd or 3rd party data in a relational database that is highly
organized and searchable. Unstructured data is the boundless data from the open web. When
the data is from social platforms and IoT devices, it can uncover deep cultural insights into
consumer behaviour.

3.

Impact of Internet of things on marketing & consumer consumption practices:

The Internet of Things is affecting virtually all industries, has a tremendous impact on the
volume of data and on network traffic (and how we handle them) and is increasingly popular
in a consumer context.
Easy Exchange of Sales Data: One of the most valuable commodities to any business is its
sales data. By having access to information regarding how, where, and why the products are
being purchased and used, company will be able to better tailor the marketing efforts towards
specific clients.
CRM: Instantaneous Customer Analysis: Customer relationship management (CRM) tool,
the IoT will be able to do more than simply gather and organize client data; it will be able to
efficiently and accurately analyse that data as well, providing with actionable results
regarding the consumer base.

Impact of Augmented Reality on Business:

1. It is unique / different (for the moment) - The novelty factor of such applications will
obviously wear off as more and more are created and used, but for the meantime, the onus is
on brands to make the most of this exciting technology and extend it from infancy. The
possibilities of augmented reality are only just being explored, and any new developments are
likely to achieve further exposure.
2. Personalisation - The concept of uploading your own media, such as the image in the
above examples, helps to create a highly personalised piece of media for the user. It relates
specifically to them, which is likely to be far more engaging than a standard video or image.

3. Virality - The novelty factor mentioned above will surely enhance users' desire to share
their creation with their extended networks, and the fact that the content is personalised will
only add to this.

4. Content - It's likely that the vast majority of users wouldn't possess the ability or expertise
to create a complex video like the ones indicated in the examples above; augmented reality
apps allow users to create a quality piece of content that they wouldn't otherwise be able to
create themselves.

5. Interactivity maintains a viral loop - As well as being high quality, the content created by
augmented reality applications is highly entertaining and in many cases fun. The element of
surprise that is achieved when sharing such content makes for very entertaining viewing by
other users, stimulating them to create their own version and share it once again, completing
the viral loop.

Impact of Virtual Reality on business:

1) VR create rich, immersive and interactive user experience. Marketers have been saying
,‘‘Content is the king’’ until quite recently, but now with VR and AR the users become both
content consumers and content creators. With a personalized headset and VR solutions, VR
enthusiasts can travel to the place of their dreams, attend their favourite sport game or
experience certain emotions in their body, mind and soul as if those events are happening not
only in front of them, but also to them

2) VR allow readers to truly connect with the published content. In the world of publishing,
the prints will not disappear, they just evolve thanks to VR creating a new storytelling
medium and revenue stream. At the moment The Wall Street Journal and In Style are several
of many brands that intend to integrate VR.
3) Brand awareness gets increased via social shares. At the back of the mind of marketers
many emotions take place. Sometimes there is even a slight fear that their brand message will
get ignored. ‘‘To which extent are people aware of our brand?’’ is one of the questions
marketers keep asking themselves.

People often relate VR to gaming and headsets. However, VR is one technology, which has a
real business value as well. Today, more and more businesses are coming with newer and
innovative techniques to incorporate VR into their routine business processes and are trying
to make their operations more productive and efficient.

Impact of AI on business and Consumer Behaviour:

Artificial intelligence is a word that we hear every now and then. One of the few things that
come to our minds when we say artificial intelligence or AI is ‘Siri’ or ‘Alexa’. While Siri,
Alexa or Clever Nelly are making our day to day activities easier, there’s much more to
artificial intelligence than that.
• Artificial intelligence for retailers: The AI allows retails to gain sharper predicting tools that
ensure the making of sharper business decisions. Algorithms intensify the ability to view
business implications and translating results like higher sales and lower costs through
customer service, product inventory, and staffing.
• Customer service is an important aspect of any retailing business since it determines
consumer brand loyalty and retaining. Platforms such as Facebook allow retailers to save
operation costs linked to customer service through incorporating chatbots via Facebook
Messenger.
• AI for Health care: Artificial intelligent technologies seem promising in healthcare because
they have the potential to improve quality of life and health consequences for a substantial
number of patients in future years.