A New Model of Value For FMCG Sector – Thesis Writing Service
FMCG stands for Fast-Moving consumer goods which is one of the most important and inseparable parts of the Indian economy and is continuously growing at an exceptionally fast rate. FMCG can be defined as all the goods which move fast from shops. This category mainly comprises of personal care products, home care products, edible products and many more.
All the goods which are consumer packaged are predicted to be sold more quickly than the rest of the goods. When FMCG markets of rural areas are compared to that of urban areas, it has been observed that there has been a faster and broader growth of this industry in the rural areas than urban areas.
These products consist of non-durable goods also like edible items such as meats, fruits, dairy products, vegetables, food ingredients, baked goods, etc.
For the sake of the growth of FMCG marketing in urban areas, a new strategy is needed which can attract more and more customers. Top companies which are involved in the FMCG sector and are amongst the highest budding industries in the world are ITC, Hindustan Unilever Limited, Dabur India Ltd, Nestle India, Gillette India Ltd, Amul India, Wipro, etc. These are a few of the most dominant and profound names in this sector.
Characteristics of FMCG:
- Network of Distribution
- Manufacturing of Contracts
The most important aspect of FMCG companies is creating a strong branding strategy. Creating a good branding strategy is important to promote products and increase sales. To promote efficiently good marketing and branding strategies are needed.
The FMCG companies also need to increase their network in which they distribute their good, the more the network is increased, the more will be the customer count, and it will increase the brand value and the total sales.
Growth of network is also important to capture all kinds of areas and customers, be it the urban area or rural area, potential buyers are situated everywhere, so the network need should keep growing. If a company has a strong distribution network then it is comparatively better in the marketplace than other companies, having a strong network gives a company an advantage over their competitors.
FMCG companies are more focused on promotions and making strategies for improving sales and growing the network so they outsource the work of manufacturing. This gives them time to think about marketing and sales and they don’t have to worry about the manufacturing process.
FMCG plays a massive role in balancing Indian economy as well as India’s GDP. As predicted by economists, the FMCG sector is fully prepared and is meant to witness about 60 percent or more economic growth in rural as well as semi-urban areas in the coming years.
As per the statistics and percentages, it has been observed that FMCG heavily contributes to the country’s GDP every year and has become an integral part of the Indian economy for years.
The FMCG industries include edible and non-edible day to day products. Food products like fruits, vegetables, beverages, coffee, tea, dry cells, packaged foods etc are generally available for a limited period of time and is subject to damage and are sold quickly at a low cost. Non-edible products include glassware, paper products, plastic goods, printing and stationery items, photography tools, toiletries and many more consumable things.
The FMCG industry needs a lot of researches and improvements for proper development and smooth functioning so that the goals of the Indian economy can be achieved within the expected deadline. It is a topic of research and digging.
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