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The CEO Magazine
A monthly magazine for business leaders and decision makers

NOVOFLEX, STATE-OF-THE-ART ENGINEERED COMPONENT SOLUTIONS FOR YOUR BRAND

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NOVOFLEX, STATE-OF-THE-ART ENGINEERED COMPONENT SOLUTIONS FOR YOUR BRAND

“Great responsibilities come with a great brand. A brand is not made in a day, but it is the entire philosophy, attitude and the intentions of the people providing the vision and roadmap to the company”

Dinesh Kumar Banka, CEO, Novoflex Industries Pvt. Ltd.

A growth-oriented, a state-of-the-art company known for its quality products, engineering expertise and manufacturing capabilities, Novoflex Industries Pvt. Ltd is not just abrand that claims to rule the market space but believes that in the last several decades it has crossed that horizon too.

The windsunder the wings of this firm have been fanned by the philosophies and actions they process upon; to provide innovative and supremequality products to their customers at a cost-competitive price. The ascending growth and stature of this brand is not an overnight miracle, but a tedious process of toiling over activities and processes set in the past that prepare the brand for the future today. Late T C Banka, the Founder, had envisioned a company that would provide not only quality products and services but also cutting edge services in the engineered plastics sector. This belief enabled him to develop the Novoflex range of products i.e Nylon Cable Ties & Wiring Accesories back in the early 1980s.

PURPOSE OF THE BRAND 

Novoflex helps the customer choose a quality product out of the crowded andfull of cheap look-alike marketplace. Seeing any product with the Novoflex brand instils confidence in customers about the right quality product. The company for decades has made its place in the hearts of its customers due to the customer delight it ensures. The brand is a perception of the customers about the company and the products, and it is delightful to see that the brand is viewed in a positive light by the customers.

Dinesh further adds, “The idea for the brand was coined in 1980 when it started manufacturing innovative and creative solutions for the Electrical, Electronics & White Goods Industry. With the acceptability of Indian manufactured products growing rapidly abroad in the last few years due to our Governments efforts of promoting “Make in India”, Novoflex today finds itself in a very comfortable entrepreneurial ecosystem”

 TARGET AUDIENCE AND MARKET  

The target audience for Novoflex has always been customers that appreciate consistent high quality and never settle for an inferior product to merely save a few bucks. Novoflex has always strived for such customers for their brand and they believe they have been fairly successful in finding the right audience and have been able to provide products that meet their requirements. The company deploys multi-prongedmarketing strategies to spread their brand name.

“We have been exhibiting regularly in major global exhibitions such as Elecrama and Auto Expo Components in India, Middle East Electricity in Dubai, Hannover Messe and Eisenwarenmesse in Germany, and National Hardware Show in Las Vegas. We also actively visit, engage, demonstrate our products and understand the needs of the manufacturing industry by various customer visits. Advertising online and in Industrial print media have also enhanced our brand image” states Dinesh. 

TECHNOLOGY AND INDUSTRY 

The influence of technology association in the industry has amplified over the years, feels Dinesh.Internet,email,ERP and CRMsoftware have helped in target and current customer outreach andthe spreadof information at a lightning-fast speed around the globe. The industry as well has witnessed a transformation of immense nature in the last two decades with a paradigm shift frommanufacturing of simple, traditional goods to encompassing cutting edge global products. The home-grown industry today is far matured and sophisticated than the yesteryears.

BRAND RECOGNITION 

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The focus of this market ruling brand is on acquiring customers who command volume,place high value and arefocussed ondelivering a consistent highquality productto their own customers.By simply switching to a quality product manufactured against international standards, Novoflex has been able to drastically reduce product recall costs for its gamut of customers in varied industries.

Revenues generated areploughed back to R&D and continual improvement activities. The Novoflex design team works to bring out new and innovative products which offer significant value to the customer and Novoflex is frequently approached to develop custom parts for customers. Novoflex mainly associates itself with Original Equipment Manufacturers (OEM’s) who look for innovation and quality components for their end product. There is a business synergy for making a quality product, which at the end of the day gives satisfaction to a manufacturer for a well-made product, just like an artist who has created something original.

“In a competitive market where a few buyers are focused on price and disregard the quality completely, our strategy has been to never compromise on quality and offer the best in class product at a competitive price. When a customer’s only concern is the price, regardless of the product quality, our response is to politely decline the offer, smile and move out” asserts Dinesh.

SCENARIO FOR ENTREPRENEURS 

Dinesh shares, “We believe there is no right or wrong time for an entrepreneur to enter into the industry. What matters most are the attitude, approach, and vision of the entrepreneur and they can find opportunities even in the worst of times.” 

India offers numerous opportunities today and in the next few years, it shall see itself as a powerhouse of manufacturing. There is a firm belief that the customers and their needs would be of utmost importance and also the very purpose of existence. The clients are kept on a very high pedestal.

 JEWELS IN THE CROWN 

Novoflex is the recipient of the prestigious American International Quality Award by the International Quality Forum, USA in sole recognition of the company’s commitment to the production of quality goods and services and the consumers’ appreciation of the quality. It has also been honoured with the International Diamond Star for quality in Mexico in recognition of merits developed in a professional activity which demonstrates leadership in quality and competitiveness in prices.

“What gave us an edge over our peers are our reliability, technical supremacy, innovation and solution to the challenges the customer faces. The value we provide results in the best brand in the category of our products” states Dinesh. 

CORE VALUES AND COMPLIANCES

The core value followed by the company is to give the best value product without any compromise on quality. All the products manufactured by Novoflex go through a strict inspection process of adherenceto specifications. Extensive testing is conducted in multiple stages of production by their quality control team.

“In the industry, there is a constant need to increase productivity and efficiency by imparting relevanttraining. Employees should also be encouraged to think innovatively and work on new ideas to bring a big positive change.” states Dinesh.

KEY OFFICIALS AND CSR

Novoflex, under the wise supervision of Deepa and Vineet Banka, has been supporting and sponsoring students of engineering colleges in India & helping them compete in international competitions for prototype racing cars developed by the students.

Deepa Banka is the President of Sales and has been associated with the company for nearly three decades now. She has been instrumental in the growth of the company and has inspired the team to reach its full potential. Vineet Banka, director of the company holds a BSc. in Business Administration from Marshall School of Business, University of Southern California, USA. He has transformed the marketing operations and added countless feathers in the Novoflex cap by gaining prestigious business accounts.

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