Companies must follow the strategy of penetration pricing with the backup of a good quality product to be successful in the rural market.
As ‘two for one’ deal and coupons are not very effective marketing tools, it is far better to price the product as low as possible in the first place.
Why are 4Ps of marketing important
The 4Ps of marketing is a model for enhancing the components of your “marketing mix” – the way in which you take a new product or service to market.
It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand.
What is multiple brand strategy
The multi-branding strategy refers to the company’s approach to introducing different brands or products within the same market segment under a different or same company name.
For instance, Facebook owns Instagram and WhatsUp which are both mobile applications but don’t have the name mentioned in the brand’s title.
What is product development strategy
A product development strategy is a process of bringing a new product into an existing or new market by doing continuous market research, thorough testing, and careful product concept planning.
It can also be about bringing an existing product into a new market.
What is echo in FMCG
EchofMCG™ SQUID system for fetal Cardiac Measurements. The EchofMCG ™ is a unique multi-channel vector fMCG system integrated with an echocardiography system, capable of simultaneously performing fetal magnetocardiography (fMCG) and echocardiography (echo/Doppler).
What is CAGR in FMCG industry
FMCG industry in India is expected to grow at the rate of 27.9% CAGR (Compounded Annual Growth Rate) to sum to US$103.7 billion by 2020.
Additionally, the rural FMCG market is projected to grow at a CAGR of 14.6% to reach US$100 billion by 2020 and US$220 billion by 2025.
What is line per call in FMCG
Range selling defined through lines per call is the number of a company’s product (skus) sold to a particular outlet during a productive call.
It is a strategy whereby similar lines or products with close functions are sold to the same outlet.
What does CPG stand for in marketing
Consumer packaged goods (CPGs) is an industry term for merchandise that customers use up and replace on a frequent basis.
Examples of consumer packaged goods include food, beverages, cosmetics, and cleaning products.
What is NPD in FMCG
A sound new product development (NPD) strategy, experts point out, is essential for the long-term growth of an FMCG company, especially in a market like India, where consumers are constantly looking for innovation.
What is product flanking strategy
a competitive marketing strategy in which a company produces its brands in a variety of sizes and styles to gain shelf space and inhibit competitors.
What is KPI in FMCG
A FMCG KPI or metric is a measurable value that helps to monitor and accomplish pre-defined organizational goals.
Key performance indicators for the FMCG industry consider branch-specific characteristics such as its fast-moving nature, high consumer demands and short sales cycles.
Why GT is considered as the strongest pillar in the FMCG sector
General trade also known as Traditional Trade is the strongest pillar in the FMCG sector.
This is because of the high volume purchases that are associated with this segment.
What is SMCG
SMCG – Slow Moving consumer giants.
How do you increase sales and trade
To improve the prospect of a sale, you must master the art of “selling to the seller”also called trade marketing.
Trade marketing is promoting your products to enterprise buyers like retailers, wholesalers and distributors.
They, in turn, sell your products to end consumers.
How can I market my food products in India?
- Create Brand Awareness
- Influence Consumer Preferences
- Establish and Maintain Brand Recognition
- The Power of Perceived Value
- Brand and the Product Life Cycle
- Find the Correct Distribution Channels
- Grab More Market Share
- Trade Shows
How can a company increase sales in trading?
- Increase penetration in your existing markets
- Introduce new product lines
- Open up new channels of distribution
- Offer new services to your existing clients
- Look out for new client segments
- Target new export segments
- Bottom line: never stop looking for new opportunities
What is product mix in project management
A product mix is the total number of product lines and individual products or services offered by a company.
Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company.
Some have multiple product lines with lots of products in each line.
How do you increase secondary sales?
- Effective Sales Planning
- Product knowledge & Sales call process Training
- Art of Product Placement
- Understanding and servicing retail channels
- Optimal Marketing and Merchandising
- Trade Promotions
- Performance Monitoring KPI and KRA Tracking
- People Management and work culture
What are the 4 types of products?
- Convenience goods
- Shopping goods
- Specialty goods
- Unsought goods
What are the three basic categories of consumer goods
Consumer goods are divided into three categories: durable goods, nondurable goods, and services. Consumer durable goods have a significant life span, often three years or more (although some authorities classify goods with life spans of as little as one year as durable).
What are the 4 channels of distribution
There are four types of distribution channels that exist: direct selling, selling through intermediaries, dual distribution, and reverse logistics channels.
Each of these channels consist of institutions whose goal is to manage the transaction and physical exchange of products.
What are 5 examples of goods, and services
Examples of goods are automobiles, appliances, and clothing. Examples of services are legal advice, house cleaning, and consulting services.
The output of a business can lie somewhere between these two concepts. For example, a landscaping company could sell a homeowner a tree (goods) and also mow the lawn (a service).
What is retail execution
Retail execution is a business process designed to ensure that a consumer goods manufacturer’s overall brand strategy is executed in retail stores.
Put simply, retail execution aims to put the right product on the right shelf at the right time.
Which of the following is being referred to as new growth category
Paragraph1: Organized retail has fuelled new growth categories-like liquid hand wash, breakfast cereals, and pet food in the consumer goods industry, accounting for almost 50% of their sales, said data from market search firm Nielsen.
Is B2b harder than B2C
Business to Business (B2B) messaging is more intellectually stimulating and harder to create than Business to Consumer (B2C) messaging.
B2B messaging is harder to test as well, which is why the use of solid research methods is critical.
These challenges exist for one simple reason: B2B sales are more complex.
What B2B means in sales
Business to business (B2B) sales are transactions between two businesses rather than between a business and an individual consumer for the consumer’s personal use.
B2B sales are characterized by larger transaction amounts, more educated buyers, a multistakeholder approval process and thus a longer sales cycle.
References
https://www.peppercontent.io/blog/fmcg-digital-marketing-tips/
https://salesdiary.in/blog/2019/how-to-increase-secondary-sales-effectiveness-normal/
https://www.totaljobs.com/advice/fast-moving-consumer-goods-fmcg-sales-job-description
https://www.financialexpress.com/industry/sme/e-commerce-gives-wings-to-fmcg-7-times-more-sales-growth-on-amazon-others-than-kirana-stores/1805273/
https://kadence.com/mastering-innovation-in-fmcg-how-to-launch-a-new-fmcg-product-in-the-market/
