industriesInnovation is the way you apply ideas
In 2012 and beyond innovation is going to drive loyalty and emphasize value in the consumer goods industry. There will be further fusion between online
and physical stores, and brands becoming increasingly 'humanized'.
Stores will have to work harder to meet the needs of shoppers, and digital advancements will drive further integration of different retail channels. Retail consolidation, along with the rise of such new channels as mass merchants, discounters, and warehouse clubs, has complicated supplier partnerships and the role of the sales force.
The key technology trends that are driving the industry are:
Trade Promotion Management
Trade promotion is intended to stimulate demand and help pull product through the distribution channel to reach consumers more immediately. Because of the proliferation of brands in the consumer market, there is fierce competition for shelf space. In consumer goods, trade promotion cost is often cited as the second largest line item on company profit and loss statements. It is important for the companies to integrate trade promotion into the company planning process. Profitably optimizing trade promotion, media investment, consumer promotion and social media presents many new opportunities. Providing a targeted, personal experience to the consumer can be a challenge, but can yield great success.
Product Lifecycle Management
Consumers are looking at in-store and private label brands more favorably, forcing companies to innovate. Creating differentiation to maintain and grow brand loyalty is paramount to succeed. In an effort to improve innovation and achieve competitive advantage, companies are rapidly adopting product lifecycle management (PLM) solutions. PLM helps companies improve the success rate of new products, shorten time-to-market, ensure compliance, and reduce cost.
Today's consumers shop across channels, including retail stores, websites and catalogs. Social media and loyalty programs are increasingly affecting the brand experience. With the advent of social media, consumer goods manufacturers are increasingly developing integrated cross-channel strategies to ensure that consumers are engaged by the proper brand experience at every touch point. With advances in social networking, digital marketing and mobility fundamentally changing the way consumers behave, the door has opened to building a more direct relationship with customers.
The amount of data in the consumer goods industry has been exploding in recent years, with the advent of social media and an increase in multimedia. Companies will have to harness an increasing volume of detailed information with big data appliances that can collect and analyze large data sets. Many consumer goods companies are drowning in data and starving for insights. Unlocking key patterns and trends in large volumes of structured and unstructured data require analytical capabilities to gain a deeper understanding of customers and products.
Kkreative with its unique solutions and services has what it takes to provide the consumer goods companies the necessary competitive advantage
Kkreativesolution enables OEM Parts Supply Chain Management, Marketing & Promotions and Brand Protection.
Kkreative’s Web Commerce engine provides the ability to manage the direct online sales channel across all the new age devices.
Kkreative’s Social Analytics platform presents a tool for Consumer Goods companies to research fashion trends, get consumer feedback from social talk and buying trends.
Kkreative’s Oracle Application management service ensures Consumer Goods companies get the best of their ERP systems, using Bigdata Analytics
Independent Software Vendors
With the growth of cloud computing, the extremely rapid adoption of mobile devices and the constant evolution of consumer interaction, Independent Software Vendors (ISVs) are expanding their horizons in a highly dynamic market – from challenging the rationale of traditional partnerships to embracing new business opportunities. Key trends in the form of - SaaS, PaaS development platforms emerging at the core, web-grade and enterprise grade services battling each other and the emergence of cloud brokers – are disrupting the ISV landscape. Overlapping with these trends is the ubiquity of a social media based user experience model.
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