Over the past few years, the food and beverage industry have grown extensively and is constantly evolving. Without any denial, we can say that the FMCG market is dynamic, and is getting more interesting as well as challenging for the marketers.
Yes, there have been variations, but equally witnessed the development in this sector over a period of time. What is constantly influencing the trends in food and beverage industry is a change in the lifestyle, fast-pace & lifestyle demands, and most importantly, an urge for healthy food. All these factors contribute to making a change in the industry significantly.
Young brands and therefore the booming trend of start-ups have motivated new players entering the market, because of technology. When getting to explore a nascent market, it’s important to be strong. Be beyond what you’re getting yourself into and the way to choose to go about it!
Below mentioned are some of the valuable tips for you, if you are planning to enter into the FMCG market with a bang-on! Let’s check them out.
1. Identify the Audience with Un-catered Needs
The food and beverage industry in India is wide and competitive. One of the best ways to grow and flourish your business in this sector is to spot a requirement that’s not yet satisfied or to satisfy a requirement differently. So as to understand the concept, consider liquid handwash. Indian population never realized the importance of a liquid handwash, hand sanitizer in bottles or sachets, until it had been introduced to them.
The twist is to make people understand, realize and then believe that a specific product will make their life better or ease the method for them. With a link to the industry, let’s mention packed food! Of course, we all never realized the importance of packed foods, including buttermilk, flavoured milk, hygienic food packaging paper and so forth. However, once they were introduced in the market for the audience, definitely there was no looking back. Isn’t it?
2. Packaging & Branding
Whether we talk about the packaging of a product or its branding, both are essential for the audience to understand your brand and its USPs. Packaging communicates speaks a ton about the brand, it indicates who you’re and therefore the target segment you’re trying to succeed in bent. Regardless of what proportion you’ve got spent on the product manufacturing, but the sole factor which will assist you to attain new customers is that the attention your product gets. Hence, to draw the attention of the prospective customers, packaging plays a vital role!
Now coming to the term, Branding, it isn’t just a logo and colour or combination of distinctive colours that represent your brand. Well, it is more about what your brand stands for, which audience you are catering to, under which industry you are operating and above all, the ethics of your brand, all these factors matter a lot! Presently, individuals resonate with the brand emotionally instead of on a rational basis. Therefore, it’s always good marketing strategy when branding and packaging communicate your brand story!
3. Innovation is the Core
Do you know that the FMCG industry is continuously evolving and to survive within this industry seems to next to impossible if you are not doing any Innovation? Just like I mentioned above, people connect with a brand more on an emotional level rather than a rational level, so it’s essential to provide them Innovation to connect with your brand and its story. The market manufacturers and suppliers have to continue with the trends, otherwise, it will be hard to sustain in this fast-evolving sector. The FMCG industry is characterised by the necessity to scale back the time and urge to seek out new innovative products so as to gain a competitive edge in the market!
4. Feedbacks and Reviews
The sole purpose of marketing is to sell the products in the market and to the right audience. The primary purchase depends on a variety of things namely, packaging, the utility of the merchandise, reaching the proper target group and effective communication. However, the follow-up purchase it totally based on a consumer who has used the product or merchandise!
In this digitalization world, people have become more active on social platforms and are equally vocal about almost everything. Not to mention it, they also post reviews about the products, be it good or bad, it completely depends on their experience. Hence, you have to understand this digital world, try to integrate something that demands the attention of your customers, and leave a positive review or feedback about your products.
5. Accurate Digital Marketing
Your customers today are exposed to the more digital world, and undeniably, they are present on almost all social media platforms, not just to scroll day and night, but to buy products as well! For reaching bent consumers the knowledge has got to be made available at their preferred platforms. Besides this, the manufacturers/suppliers/retailers can directly access to the reviews and grievances of the consumers, which is beneficial in enhanced communication. In this digital age, consumers like better to shop online instead of visiting a store. Hence, you should be aware of all the digital marketing trends, to not to lose the audience!
To conclude, I hope that the above-listed tips would be beneficial for you to understand how to enter into this FMCG market to grab the attention of your targeted audience. It’s just Innovation and Invention that matters, and rest is how to take it forward to your audience to bang on!