If there is a sector of economic activity that has a structural and urgent need to adapt to the preferences of end customers, as well as the changing market, it is fast moving consumer goods (FMCG). The ability to offer dynamic responses; adapt to current trends; innovate according to the expectations of your end customers; and doing so while preserving brand loyalty, can only be implemented and executed with proper information management. That’s marketing research (MR), and that’s what we do best at FOCUS.
We have identified 6 factors that can make the difference between the risk of failure, unstable continuity or a successful strategy:
1. The data: The MR collects and parameterizes the necessary information to develop and implement strategies that respond to changes in trends and behaviors between end consumers and the market.
2. The customer: MR allows us to understand the needs of consumers based on their behavior. Quality information implies understanding and optimal decisions, to provide maximum satisfaction.
3. New initiatives: The costs of launching new products imply the allocation of resources. The MR reduces the threshold of uncertainty, since the processing of the data facilitates the making of decisions adjusted to acceptable risk-benefit levels.
4. Efficiency in product cycles: The product life cycles of FMCG companies are short. Only the MR is capable of providing the information and analysis that allows maximizing performance in each of the design, production and marketing phases.
5. Growth: Growth or expansion is a natural drift of companies, but only MR can provide accurate information regarding the identification of opportunities, risk analysis and evaluation of potential benefits.
6. Brand and loyalty: End customers measure their relationship with companies by their ability to offer them answers to the different circumstances that arise, and MR is the solution, as it provides information to satisfy their concerns and, thus, maintain retention and loyalty ratios.
Today, it is unthinkable to operate in this environment without considering the MR, which should never be considered an expense, since it is not; Quite the opposite: it is probably one of the wisest investments that can be made at this time.
We know it very well. And, to exemplify it ‘above’, leaders in the food and beverage sector -Nestlé, Danone and Coca-Cola-, those with the highest promotional activity so far in 2023 and which represented 10% of all promotional activity in prospectus in their sector, grew by 1% compared to the previous year thanks to the high added value professional and analysis services provided by the MR.
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