How are FMCG Brands Increasing their Consumer Base?
by Suresh Kumar Business AnalystThe
tastes and presences of consumers keep changing with time. However, it is
important for marketers to find out the reasons that affect consumers'
behavior. Indeed, the buying traits of consumers play a significant role in the
marketing of the Fast Moving Consumer Goods or FMCG market. Here is more on
this discussion.
India
is the main hub of FMCG. Several national and multinational brands cater to their
mass population and generate immense capital. Numerous renowned brands have
created amazing platforms by pioneering new and innovative strategies. Some of
these marketing strategies introduced by FMCG
brands in India include as below:
1. Multi-Branding
One
of the best methods of the FMCG brands, it caters to rival products under the
same banner. A company manufactures a variety of products as per consumers'
demand. However, its main motto is to generate a monopoly in the market. Generating
competition amongst own products is an ideal way to get hold of the market.
2. Growth of the Brand
If a company is already popular among the masses, it uses popularity as
the medium to add more products to it. The diversification of the brand adds
value to it. For instance, initially, Lifebuoy had just soap, but once it got fame,
it increased its product line to hand wash liquid as well.
3. Flanking
In this strategy, brands sell the same product in different quantities
and packaging. As per the requirement, the consumers purchase the product from
the market. It is an excellent strategy for all FMCG products.
Huge Network of
Distribution
Brands
offering FMCG products in India require a huge distribution network in
terms of location. For instance, PepsiCo owns a huge network distribution, enabling
it to reach out to every nook and corner of urban and semi-urban areas. Hence,
it becomes difficult for other rival brands to penetrate the market. This is
the best marketing strategy through which FMCG brands cater to almost all
sections of society.
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Created on Nov 29th 2021 02:24. Viewed 355 times.