FMCG Market Analysis
Strategic plans are important for any business, and such plans need to be reviewed on a periodical basis. Business owners need to consider the importance of keeping the business processes more flexible according to the market changes.
The consumer industry is generally challenged by frequent fluctuations in demand, technological obsolescence, and cheaper alternatives. Such market movements ultimately influence the expected output against the targeted growth plan. To meet such market changes, many companies take a hit in their net earnings by offering freebies, and volume discounts. Such discounts are applied mainly on their mass brands in order to maintain their current level of operations/volume. This will propel further competition in the market, and even force industry leaders to follow the suit to survive in such tumultuous time. The recent example is the effect of exertion of such market forces which resulted in the descent of the brand Nokia. Thus, it is important to maintain a well-defined process in order to monitor market changes, and incorporate such changes into company's planning program.
Generally, it is believed in the consumer marketing parlance that the retention of volume is an absurd term. In order to retain volume you have to develop, and implement aggressive strategic plans coupled with matching sales drives. Such plan needs to be documented in order to give direction to an organization. Also, it should be flexible enough to accommodate changes in the market environment.
FMCG Industry Overview indicates the high tech items are more vulnerable targets rather than normal consumables like food products, personal care products, lubricants, oil, paints, and more. However, FMCG Products or FMCG Companies also face an onslaught from large scale operators in the form of greater value proposition, widespread availability, and affordability coupled with enhanced brand communication.
Benefits of FMCG Market Analysis
Periodical FMCG Industry Analysis helps to examine the market ecosystem to understand the market position. The analysis of the ecosystem includes change in consumer taste, market competition, effect of alternative solutions, and affordability variables to survive the ravages of time.
t is true that the healthy turnover may not provide solace to business even in the medium run. There is a need to continually assess the future scenario to keep the enterprise buoyant in the market. An agile enterprise can come up with newer brands, revive existing brands, launch new brands, or can even bring variants in different categories to keep its products up in the market. The flipside of the story is that while such situations keep businesses on their toes, enterprises which can reorient themselves will reap better benefits as early movers by garnering better turnover in the market. This will ultimately result in recurring volume and consumer loyalty over a period of time. To preempt competitors move, it is advisable to be cost effective, and act according to market movements rather getting caught in the wrong foot.
DART’s FMCG Market Analysis
DART’s Consultants help in studying market competition, brand loyalty, distributors-retailers position in order to provide a comprehensive operational and marketing strategy. Also, we can look into technology solutions to streamline functions like stock control, marketing inputs, distribution plan, supply chain & logistics etc. Also, our Consultants will study the overall market, and provide marketing/distribution solutions with their years of experience in the FMCG segment. Thus, we can assess the exact solutions by viewing business perspectives in an independent angle.
