"If you don't have preference the only option you have is to keep reducing your price," he told a news conference.
"On the other hand, if their brands connect with people and build preferences, then clients will have a highly profitable business.
"To increase sales you have to improve the quality of branding," Sharma said.
Sharma and the company's Asia-Pacific head Michelle Kristula-Green were in Sri Lanka to attend 'Camp Leo', a two-day training programme where the new philosophy is to be officially launched.
Over 50 participants from Leo Burnett branches in South Asia have arrived in the island for the programme, the company said.
Leo Burnett says the marketing landscape has changed over the years and brands have to be able to define their purpose to be successful.
"Brands are no longer getting created through one way communication