Key marketing factors of fast moving consumer goods:There are six key marketing factors for fast moving consumer goods to gain market and continuous marketing power. If any of those six factors is stronger than that of competitor, your products would gain great marketing power.
Those six marketing factors include products power, channel power, image power, spread power, promotion power, vision power.
Products power: Fast moving consumer goods are of high homogeneity. As a result, the FMCG competition is consisted of brands, channel and marketing competition. Once a kind of FMCG provides unique selling points, it also means that it has a good start in the market easily. That is why the manufacturers are dedicated to developing new products concept continuously. In essence, marketing competition is the products competition or the user experience competition. If you just imitate or follow other products, we would never see the colorful products in the market. It does not mean you have to achieve a complete change or creation. Sometimes, small change would also help you gain great market space. For example, the biscuit is the most common products; actually it is the cookies introduced from other countries. It has formed new products and has become a typical case in products change. The combination of tea and milk is favored by the people. There are two successful cases in regards of FMCG change. Only if we focus on the consumer needs, we can create great market potential.
Channel power: In the field of FMCG, we often hear that the channel is the king. The fast moving feature decides that the products which can make the consumer buy it easy and conveniently, it also means that it can win market. No matter the products quality and price, the products can not be transferred into sales amount without good marketing channels. FMCG is depended upon the marketing channels in a great extent. When negotiating with the channel distributors, the FMCG company would always play the passive role. The channel distribution cost increase greatly would always cause the failure of new brands. Therefore, making combined channel strategy and reduce channel distribution cost are very important in improving profits.
Image power: Nowadays, consumer would not only focus the products experience, also the brands image plays an important role in their minds.
The consumer, especially the city consumer would always care more on products brands and quality. For the same product, different consumers and different environment have different brand requirements. If you stay with your clients, high branded water would always be chosen. If you just use it for your own, you just put more focus on the product itself. People choose different brands since they have different opinions on different brands images.
Spread power: As to FMCG, the spread power of products and brands would always decides the position in the market. Of course, the products must have proper market positioning. With common marketing channels, it is difficult to get a priority position in the market. For any type of FMCG, we have to develop the exact spread strategy for this product. If we have unique spread strategy, the agent or distributor would also like to cooperate with us. Spread does not only refer to advertisement. If we have featured package for the products and also we have creative interactive methods with consumers, we can also gain the advantage in products spread.
Promotion power: For the fast moving consumer goods, promotion is treated as double-edged sword. FMCG is of highly price sensitive and promotion is considered as a marketing option acting as price reduction method. Promotion plays an important role in products marketing. However, frequent promotion all in the same key would lead to the lack of sensitivity to promotion. Nowadays, promotion has become the most common marketing technique. In the same time, promotion has become an unworthy job. It seems that the consumer has tired of promotion. The key to promotion is to provides more creativity in the procedure to inspire the consumers’ participation enthusiasm. We should never launce the promotion unless our competitors adopt promotion across the line in the important selling season.
Vision power: Fast moving consumer goods is of terminal sales products which provides high randomness. As a result, the key to success of FMCG is to attract the consumers’ eyes. Vision improvement does not only includes package vision creation, also package form should offer creativity. The unique package design can always be attractive to the end consumers since there are various products shown in the shelf.
Note: It does not mean that we have to achieve six key marketing factors of FMCG. To win the market, we can achieve the advanced position in the market if we achieve one or several of those factors in the market. If you are struggling in the market, it means that you do not get your competition advantage among those six marketing factors.
We need to check those six marketing factors. Check out which factor can help our products to gain the competitive strength. We should focus on the factors which can boost products or brands advantage and we should never waste our time and money on others.
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