Topic > Ensuring Success for a FMCG Company - 2722

Introduction In the rapidly evolving and highly competitive business environment that is today, new companies will need to fine-tune the processes they undertake that help the overall success of the company in the corporate sector. FMCG is short for "fast moving consumer goods". FMCG companies produce retail products that have a relatively short shelf life because they have a high turnover rate or because the product spoils quickly, for example fresh food products (Jaray, 2005, p. 23). Goods need to be purchased every week or few weeks according to (Powell and Hardy et al., 2013). The authors go on to state that the goods must be economical and that the FMGC business model must be high volume and low margin. It must also include brand loyalty in the business model, as “FMCG companies cannot survive in business without many category shoppers regularly choosing the advertised brand.” Furthermore (Heggde, 2010) shows examples of the largest FMCG companies such as Nestlé, Unilever and Proctor and Gamble, with its products such as chocolate bars, toilet paper and soft drinks. The author states that examples of FMCG brands are Coca Cola, Kleenex, Pepsi and Mars Bar. The new business will need to have a brand that is attractive to its market and allows consumers to choose the product without hesitation. . According to (Lancaster and Withey, 2007) the authors, for example, state that "the product is purchased frequently with little information search or alternative evaluation by customers". Ultimately, the company will then need to provide the consumer with a brand that is trustworthy and meets their needs while allowing customers to purchase the product over and over again. Without the correct procedure... half of the document... available at: http://www.mediacom.com/en/what-we-do/our-industry/media-planning/what- are-the- challenges-of-media-planning.aspx [Accessed 7 December 2013].• Morritt, R. 2007. Segmentation strategies for hospitality managers. New York: Haworth Press.• Nargundkar, R. 2008. Market Research. New Delhi: Tata McGraw-Hill.• nibusinessinfo.co.uk. 2013. How to identify new business opportunities. [online] Available at: http://www.nibusinessinfo.co.uk/content/how-identify-new-business-opportunities [Accessed: 8 December 2013].• Powell, H., Hardy, J. , Hawkin, S. and Macrury, I. 2013. The Advertising Handbook. Hoboken: Taylor and Francis.• Shankar, V. and Carpenter, G. 2012. Handbook of Marketing Strategy.• Strydom, J. 2004. Introduction to Marketing. Cape Town, South Africa: Juta.• Viardot, E. 2004. Successful marketing strategy for high-tech companies. Boston: Artech House.