Question

Explain the formulation & implementation of Marketing strategy for FMCG.

Answer 1

Here is the answer for your question :-

Formulation and implementation of Marketing strategy for FMCG :-

Formulation

During the process of marketing strategy formulation , the formulators consider the objectives of the company .

The objectives and the goals of that company will be considered and taken into account while formulating the marketing strategy o fthe FMCG.company

FMCG stands for fast moving consumer goods.

The marketing strategy leads to an generation of idea for positioning the products at the righrt market place .

The formulation of the marketing strategy will have the effect on the various departments of the organisation.

While formulating the marketing strategy for FMCG ,there are some most important factors to be considered . they are :-

- Misssion of the company

- Objectives of the company.

- Goals of the company.

- External factors.

- Internal factors.

- PEST  analysis

The success of formulation depends on

- Creativity

- Performance.

-Improvement.

The formulation of marketing strategy should also consider the technology , capability of the company.

Implementation

Based on the marketing strategy which is formulated in the formulation process, implementation takes place .

The success of marketing strategy depends upon the formulation process.

In this process of implementation, the success or failure of the marketing strategy will be known.

Implementation process is the stage where the formulated marketing strategy comes into force and comes into action .

All the departments like production, manufacturing , finance, sales, marketing, and procurement starts functioning and starts their operations in this stage of implementation.

Some of the marketing strategies adopted by the FMCG's are

• Extension of Brand.
• New product development .
• Wide distribution.
• Multi brands.
• Product ranking.

The best marketing strategy will have competitive advantage over  the other companies in the industry.

It also helps in becoming the market leader in the industry.

The best marketing strategy comes out of the best formulation and best implementation process.

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