CPG stands for Consumer Packaged Goods. Packaged goods for direct consumers have gained immense popularity in households because they are time-saving, easily available, and very simple to use. This characteristic of CPG makes it very striking and several multinational companies like Nestle, the Coca-Cola Company, Unilever, etc. captured a huge share in the market just by producing consumer-friendly products.
This scenario of the market induces many mid- markets traders to invest more in the market for their business expansion and prosperity.
In India, the CPG sector is occupied an enormous share of the market. 41% of the market is seized by food and beverages and 22% personal care and 9% by households and the rest of 28% from others
These statistics allow Mid – Marketers of CPG to building an optimistic perspective for the market, they feel a sense of growth and development. Here are the perfect business solutions for those who are actively looking for taking a step forward.
1. STAND OUT FROM THE CROWD :
Acquisition of planning is important but having a systemic plan is more important. With proper assessment of demand for the product, knowing how to produce and for whom to produce always helps in catching the eye.
SWOT analysis is a key answer for this confusion having a clear idea of your product’s strengths, weaknesses, opportunities, and threats,, helps in build the perfect path to follow. Adding unique features and concentrating on details helps a lot to stay in the cutthroat market Competition
2. BUSINESS INTELLIGENCE :
Business intelligence is software that helps both an employer and employee in decision making, enhancing operational efficiency, recognizing market trends, and testimony of performance through KPIs ( key performance indicators), and also identifying new business environments
Moreover, it allows us to compare our past records with present performance to examine deviations and errors occurring and to refurbish them on time.
It collects raw data from internal and external sources like transactions, journals, subsidiary books, and financial statements and processes it, and converts it into a useful state of structured data.
Some very effective and efficient be business intelligence tools are :
• Data pine
• Micro strategy
• SAS business intelligence
• Yellowfin adequate
3. NETWORKING AND MEDIA
Usually, people misunderstood networks and media as the same thing but it is not, both networks and media are equally important for a business but they are distinct and complementary to each other.
Media is a means of communication where we can spread useful information, general awareness, and current news. Media is very useful for businesses when it is in the
Structure of social media. Social media is a very wide web of networking, Yes networking is a part of media.
In networking, you are supposed to connect with the maximum number of people who are interested in the service you’re providing. Mutual interest in service establishes effective networking.
Social media is a very adequate platform for introducing, advertising and promoting your business services. Various social media apps like Facebook, Instagram, Linked In are proved very beneficial for businesses here you can connect with several people who make aware of your product with the right procedure and plans.
4. TRADE PROMOTION
Trade promotion is quite like networking and media the only difference between these two is that networking is done via online mode and trade promotion is done through offline mode. Here you make your product visible in retail stores and supermarket outlets through many offers, schemes, and gifts.
For example, many companies introduce a buy one get one free scheme to attract buyers, discounts, inside gifts, and surprises attract people to the product. For this promotional technique, some companies even offer a ticket to a foreign trip for some lucky winners and draw their attention.
5. GIVE BACK TO YOUR SOCIETY :
Being a business person you must give equally back to society what you take from them. You owe society so many things that’s why you must pay them back with the best quality of products with fair prices and deals. You’re supposed to generate employment in your working areas, Payment of taxes and liabilities should be on time, no illegal trade should be practiced, And last but not the least you must be part of social welfare schemes and encourage environment-friendly methods of production with minimum harmful excretion one should always keep the environment at the first place.