The technology innovation S-curve that has been rising will now have stunted impact on FMCG consumers. To implement OI, companies must tackle four key issues: In consumer experience, interactive packaging and applications of mobile technology to drive impulse purchases.
They have always been in the game shelling out better and smarter machines with the passage of time — starting from the Nespresso into the Dolce Gusto in to the latest Special.
The new face of FMCG is underway. These days FMCG products come with consumer feedback channels on every pack — A Technology innovation in fmcg or the customer care mailer. Major corporations need access to new ideas and technologies to feed their innovation processes.
In toothpastes there were and maybe still are absurd categories like Technology innovation in fmcg, semi popular, semi-premium etc. This also widens the scope to extend and indulge in cross-selling.
All these factors might disrupt the economies of scale of these FMCG giants in an integrated supply chain environment. You can get in touch with our team to know more or share your valuable insights. It can be foreseen that moving to digital will not only apply to marketing.
More Automation, Less Efforts The emergence of latest technologies including IoT Internet of Things3D printers, sensors and product manufacturing devices have motivated the concept of effortless automation.
He likes to share the knowledge gained by him; through blogs and guide the readers on techniques to improve their businesses with the power of technology. Many organisations are looking forward to accepting a complete BYOD policy.
Talking about vending machines; even the school and college campuses these days are equipped with machines that better be called humanoids, with the help of artificial intelligence tailor-made to FMCG needs.
The urban class is not only educated, but is also exposed to numerous social media and digital marketing interfaces, and hence more product test reviews and public forum discussions. Each new product in the market will take more time now to awe a regular retail store-goer, given the fact, as mentioned above, the chemical and materials technology has reached the upper end of the S-curve.
We are at the pinnacle of digitisation where consumer market is very much influenced by the world of Internet and smartphones. Presenting our lookout on how things will get more systematic for the FMCG companies. Senior decision-makers from these companies come to scout for, and acquire, innovation and technology through licensing, acquisition or research funding.
Having said that, think of the greatest marketing innovation of this century — the IPL. We would be glad to hear from you. A greater focus is on product innovation to stand out in the competition. FMCG companies have started to consider their move to embrace social presence, be open to multiple options and plan their tactics.
But to the consumer, they are becoming increasingly irrelevant. Are you tuned into the world of mobile apps? Unilever also plans to reshape its global supply chain management by drawing support from its extensive investment on ERP platforms, Business Intelligence and Business Process Management.
Moreover, creating brand buzz using social media proves to be a cheaper way to maintain customer relations.
However, "the trend in India of late is that consumers take a backseat," says Prof. Winning as a small company in this OI environment requires specific skills — having an appreciation of how large companies work and their culture is vital, perhaps through enlisting support from advisors or non-executives.
Gold Oxi Action detergent Volvic: Based on real needs, they offer solutions and improve the overall experience. Data-driven business models To run a successful FMCG business, data-interceded relationships will top the strategic charts.
Challenging Supply Chain, Brand Management for a diverse range of products, cut-throat competition in the global market, extensive distribution strategies, consumer frequent purchases and a gamut of other winning factors makes the industry what it is and has been over the years through an era of fast growing economies, industrial trends and buyer behavior functions.
It also builds new avenues to explore the potential market. Based on real ones that are consumer driven. Small firms, especially start-ups, typically lack the strategic and operational rigidities that can stifle innovation in established firms but they struggle to access the assets needed to get their ideas to market Minshall, Mortara et al, Karl Connolly Karl is the technical lead analyst at iTouchVision.
Unilever global VP Mariano Sampietro explains: By Karl Connolly T But, it needs careful planning and premeditated implementation. An awareness of the inherent asymmetry in the power relationship of the two parties, and a proactive approach to rebalancing this to deliver shared reward and risk, will pay long-term dividends.The importance of open innovation in the FMCG sector.
In Latest Features; November 14, ; Stephanie Cornwall; Senior decision-makers from these companies come to scout for, and acquire, innovation and technology through licensing, acquisition or research funding.
The technology and innovations magazine for FMCG packaging. Consumer-goods companies have been at the forefront of digital innovation in commercial areas such as marketing and sales.
Supply chain and operations have been less of a focus for their digital efforts, but recently, leading consumer-goods companies have started to explore the use of digital solutions in manufacturing processes. Speed, agility and swiftness characterise the FMCG technology sector.
Companies’ taking active participation in the digital transformation is a good sign. Organisations are resorting to integrated multi-channel solutions to ease up customer interactions. This company designs technology for the leisure and retail industries, allowing them to better connect with their customers, in both the physical and digital world.
Hoxton Analytics. Instead of traditional surveillance methods, this research company uses footfall technology that only shows the customer’s shoes as they enter a store. Mar 05, · The technology innovation S-curve that has been rising will now have stunted impact on FMCG consumers.
The urban class is not only educated, but is also exposed to numerous social media and digital marketing interfaces, and hence more product test reviews and public forum discussions. Technology is increasingly fundamental to competitive advantage in the consumer-packaged-goods industry.
IT leaders are stepping up to the challenge.
Consumer-packaged-goods (CPG) companies have traditionally viewed technology as a necessary business expense to be managed in the most efficient way possible. As IT spending .Download