...InnovaTIon Study prepared, June 2013 by Incite League TabLe 2013 Innovation and execution for consumer brands Incite | Innovation League Table 01 Introduction Innovation matters for any brand. It’s the number one influencer of consumer purchasing behaviour and it has a big impact on sales potential. But it’s wrong to assume that only shiny technology products attract consumer plaudits for innovation. Read on to learn which brands are seen as the most innovative in FMCG, Retail, Finance, Automotive, Technology and Charity, as well as how you can influence how consumers feel about the innovation your brand displays – without relying on products. Incite, the market research consultancy, has produced its Innovation League Table for 2013, revealing who’s got the right formula, as well as how brands can apply new strategies to excel at innovation. Incite surveyed 3,000 UK consumers both unprompted and then based on over 500 popular brands to rank their perceptions of the UK’s most innovative brands. For the first time since its inception, the study also measured the degree of perceived innovation in marketing communications to investigate consumer attitudes towards what makes a brand innovative and how this relates to its overall perception. We know that marketers have the power to drive innovation, but in order to woo consumers, brands need to understand the underlying factors that are perceived to drive innovation in order to apply it to their brand. Is it about...
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...ibef.org 1 FMCG NOVEMBER 2011 Contents Advantage India Market overview and trends Growth drivers Success stories: Major players Opportunities Useful information For updated information, please visit www.ibef.org 2 FMCG NOVEMBER 2011 Advantage India Growing demand • Attractive opportunities • 2018E Market size: USD74 billion Rising disposable income of the young population has been a major growth driver for the sector Emergence of organised retail has boosted the distribution of FMCG sector Low penetration levels in rural market offer room for growth Consumers are highly adaptable to new and innovative products • • • Advantage India Increasing investments • There is a growing market for premium products Policy support • Industry saw heavy FDI inflows as they accounted for 2.1 per cent of the country’s total FDI 2000-10 Many players are pursuing inorganic growth by acquiring regional players Automatic investment approval of up to 100 per cent foreign equity is allowed Have improved on the infrastructure facilities which has increased access to the industry • • 2010 Market size: USD28 billion Notes: Market size estimates from Technopak 2018E – estimated figure for 2018 For updated information, please visit www.ibef.org ADVANTAGE INDIA 3 FMCG NOVEMBER 2011 Contents Advantage India Market overview and trends Growth drivers Success stories: Major players Opportunities Useful information For updated information, please visit...
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...Attention, shoppers: Did you find everything you were looking for? Retail customers who answer "yes" to this question might very well represent the Holy Grail to retail operators who want to increase their sales with only a modest increase in costs or, in some cases, increase sales by merely reallocating staff within a store at no extra cost. Impossible? Not according to a new study on retail store execution by Wharton operations and information management professors Marshall L. Fisher and Serguei Netessine, and Wharton doctoral student Jayanth Krishnan. Using proprietary data collected over 17 months from a large retail operation with more than 500 stores, the Wharton experts determined that sales and customer satisfaction are not merely driven by a customer's ability to find products on the shelf. Instead, "customer perceived in-stock" -- a metric the Wharton experts use to describe the number of customers who answer "yes" to that all-important "Did you find everything?" question -- is driven not only by actual in-stock but by how well the customer rates employee knowledge about the store and the products they are looking to purchase. In short, customers get lower satisfaction from their shopping experience when stores have too few employees and, more importantly, when stores lack employees who are knowledgeable about what's in the store. After analyzing the results of the study, the researchers suggest that a "modest reallocation of the payroll budget among stores" in...
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...influence on yourself as well. Being a modern person you want to be always available and “keep one's eye on the ball”. Internet became a “must” access resource towards information. We use our mobile phone not only for the voice communication but also as an access to different digital contents (music, video, e-books just to read and for studies, etc.) and social networks (to connect friends and colleagues). To have a better understanding let’s see a J’son & Partners Consulting brief overview on digital media content market, sales via internet and other remote communication channels (distribution via physical devices have not been considered). According to J’son & Partners Consulting research key global digital content market drivers and barries are: Key global market drivers: * increase of consumers expenditures in developed countries; * increase in sales of smartphones and tablet PCs in the world as well as an increasing their penetration, especially in developing countries; * increasing popularity of social networks, mobile games, streaming services; * increasing popularity of...
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...2020: Winning in a polarized world PwC and Kantar Retail are pleased to present Retailing 2020, a follow-up study to our original Retailing 2015 report published in 2007. This 2020-focused document identifies and investigates some of the economic drivers that could shape the US retail landscape, as well as components of channel and shopper. This report also documents an intriguing, forward-looking dynamic as we move from the early 2010s and advance toward the retail landscape of 2020. The current retail landscape has been recovering from the worst economic downturn in memory for most shoppers. At the same time, the US retail market continues to evolve into what we term the Post-Modern market evolution phase, characterized by hypercompetition—both online and off—and signals an era defined by very challenging circumstances to understand and master. In short, the retailers and suppliers willing to ―up their game‖ will likely remain the most viable in a rapidly changing, shopper-driven retail landscape. We anticipate that the 2020 retail landscape will be shaped by retailers leveraging increasingly complex operational, financial, and brand models. Retailers and suppliers, we believe, will need to address and manage the complexity and diversity of the ―retail realities‖ that make the market challenging. Speed of technological advancements, globalization, and ways to leverage information are some of the drivers that may lead to a more consumer-centric landscape. This...
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...awareness and brand consciousness among people across different socio-economic classes in India and how the urban and semi-urban retail markets are witnessing significant growth. It explores the role of the Government of India in the industry�s growth and the need for further reforms. In India the vast middle class and its almost untapped retail industry are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the India Retail Industry to grow faster. The paper includes growth of retail sector in India, strategies, strength and opportunities of retail stores, retail format in India, recent trends, and opportunities and challenges. This paper concludes with the likely impact of the entry of global players into the Indian retailing industry. It also highlights the challenges faced by the industry in near future. INTRODUCTION The India Retail Industry is the largest among all the industries, accounting for over 10 per cent of the country�s GDP and around 8 per cent of the employment. The Retail Industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even with other companies and compete with them. The India Retail Industry is gradually inching its way towards becoming the next boom industry. The total concept and idea of shopping has...
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...| BT Retail | | | M Mwelase | | | Contents 1. Executive Summary……………………………………………………………………………………………1 2. Question 1………………………………………………………………………………………………………….2 3. Question 2………………………………………………………………………………………………………….8 4 .Question 3…………………………………………………………………………………………………….…..9 5. Recommendation…………………………………………………………………………………………….11 6. Conclusion………………………………………………………………………………………………………..12 7. Bibliography……………………………………………………………………………………………………..12 Executive Summary BT Group a world leader in telecommunication started a new division called BT Retail. This division was providing telecommunication solutions to 21 million customers in the UK. Their first CEO, Pierre Danon, instilled a culture that saw the division excel for a number of years. This culture was driven by all top management and its employees in order to realise their set targets. The culture that was adopted by BT Retail was total quality management (TQM) throughout the organisation. This meant that all top management displayed and practised TQM. The author takes us through what is TQM and what are the principles that BT Retail instilled in order to gain customer satisfaction. The following principles were discussed: * Customer Focus * Continuous Improvement * Employee involvement and Empowerment * Systems Thinking. These four pillars made sure that BT Retail was able to reduce the cost of poor quality, through continuous improvement methods and early identification...
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...Market Segmentation and Product Positioning Assignment One January 18, 2011 Abstract The key to successful product implementation in today’s national enterprise system is the effective marketing of a new product with the company’s line of existing products. As stated by Iacobucci (2010) (p.3), marketing is defined as an exchange between a company and its customers. In simple terms, the customer wants something from the company or firm and vice versa. In previous times, a company would manufacture a product they thought the customer would want and/or need. The customer purchased that product because of a pending need which basically meant that marketing used to be product oriented. However, marketing today is more that an advertisement for goods and services in an attempt to attract new business. We live in a customer orientated and empowered marketing environment (p.5). We realize the importance and ramifications of having an exchange with our customers and developing a relationship with them. It is this exchange of information between our company and our existing as well as future customers that secures our position in our target market. Our company is a regional tool distributor located in the north eastern section of the United States. Our customer base consists of several major retailers, nationally known in the retail and wholesale tool industry. We use the brand label Steel City Tools for marketing and distribution of our products. This research...
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...TODAYS RETAIL BUSINESS TO SUSTAIN WITH THE COMPETITION Abstract “The unseen world is more truly real than the visible world” Recognizing and managing a single point by Indian retail sectors can provide a million ways for their success. Customer satisfaction, store outlook, advertisement etc., will add advantage to their business and employees’ also creates value to their business more than the above. One single and most needed point for today’s successful business is “engagement levels of their employees – towards the job, colleagues and finally with the company goals”. Employee engagement and supportive behaviors are the most desirable employee traits for any successful business organizations. They are also scarce and difficult to cultivate and measure. Due to this reason many of the organizations trying to benchmark employee engagement activities from the best practices done by their competitors and finally fall into losses due to lack of understanding their own employees requirements. Employee engagement is an understanding of the business context, works with colleagues to behave in a performance-enhancing manner for the benefit of the organization and in return, the organization has to look after employees to engage them at work and maintain a transformational relationship rather than transitional. Engagement is not a one day activity or a workshop in the company; it is a continuous process which involves each and every employee under one umbrella. The key for any...
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...CUTCO & Vector Marketing 1. What is direct selling? Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Modern direct selling includes sales made through party plan, one-on-one demonstrations, and other personal contact arrangements as well as internet sales. A textbook definition is: "The direct personal presentation, demonstration, and sale of products and services to consumers, usually in their homes or at their jobs.” While direct sales proves to be quite effective for Cutco, the industry also has its negatives. Many times there is very little advertising and because the company is not well known, it may lack legitimacy. 2. How would you respectively characterize Cutco and Vector Marketing? CUTCO cutlery has always been historically marketed through direct selling. This is viewed as a distinct advantage by the company because it allows the quality and performance features of the product to be explained and demonstrated directly to potential customers. Direct selling sets the company apart from its major competitors. These sales are made through in-home presentations in which sales representatives validate and prove the superiority of CUTCO cutlery through demonstrations. 3. How is Cutco cutlery marketed? Vector Marketing Company & Sales Representatives In 1985, CUTCO acquired Vector Marketing Corporation to have greater control over its sales efforts. organized into six geographical regions...
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...CUTCO & Vector Marketing 1. What is direct selling? Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Modern direct selling includes sales made through party plan, one-on-one demonstrations, and other personal contact arrangements as well as internet sales. A textbook definition is: "The direct personal presentation, demonstration, and sale of products and services to consumers, usually in their homes or at their jobs.” While direct sales proves to be quite effective for Cutco, the industry also has its negatives. Many times there is very little advertising and because the company is not well known, it may lack legitimacy. 2. How would you respectively characterize Cutco and Vector Marketing? CUTCO cutlery has always been historically marketed through direct selling. This is viewed as a distinct advantage by the company because it allows the quality and performance features of the product to be explained and demonstrated directly to potential customers. Direct selling sets the company apart from its major competitors. These sales are made through in-home presentations in which sales representatives validate and prove the superiority of CUTCO cutlery through demonstrations. 3. How is Cutco cutlery marketed? Vector Marketing Company & Sales Representatives In 1985, CUTCO acquired Vector Marketing Corporation to have greater control over its sales efforts. organized into six geographical regions...
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...The following report offers an overview of both the macro and micro-economic factors that drive the pharmaceutical industry with a brief insight into how these levers impact the key players and decisions in the sector. The report will also relate the key drivers of the industry to the pharmaceutical industry in Ireland and how it is facing these global challenges. Historically, the sector was dominated by large scale bulk compound manufacture but this has evolved into a diverse range of complex technologies and treatments. In order to elaborate/detail on how this influences the strategy of individual organisations, we will highlight some of the activities of Glaxo-Smithkline (GSK) and how this company has evolved to adapt to the dynamic nature...
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...that are propelling the industry, plus the opportunities and challenges in the market. The report includes PEST Analysis of the industry. This report also helps the investors to identify the different consumer classes served by different supermarkets in UK. Key Findings - Online retail will emerge as an important mode of selling. - Each Supermarket in UK has its own consumer class. - Top four Supermarkets hold major market share (almost 75%) in UK. - Increasing buying power of retailer remains the major driver for the industry. Key Issues and Facts Analysed The research report also addresses the issues and facts that are critical to the success of UK retail industry in particular. - Overview of current market trends. - Profile discussion (their respective consumer class, and store formats, etc) of key players in this sector. - Analysis of various challenges and opportunities existing in the industry. - What is the market size and scope of retail in UK? - What and where are the growth prospects and issues related to the industry? - What are the factors driving growth in this sector? - Who are the key players of UK Retail Industry? Key Players Analysed This section covers the key players currently operating in the UK retail industry including Tesco Plc, Asda/Wal -Mart, Sainsbury, Morrisons, Waitrose, and Fresh & Wild (Whole Foods Market). Research Methodology Used Information Sources Information has been sourced from namely, books, newspapers, trade journals, and white...
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...Table of Contents Task 1. Critical Evaluation of Key Concepts and Theories 2 1.1 Literature Review on Customer Experience (CE) & Customer Loyalty (CL) 2 1.2 Creating a favourable CE & Strong CL based on Conceptual Framework 2 1.3 Linkage between Customer Experience Vs Customer Loyalty 4 1.4 Conclusion 5 Task 2. Application of Key concepts and Framework 5 2.1 Cooperate Profile / background 6 2.2 Review of existing CE & CL 6 2.3 Recommendation for Improvement for Weakness 7 2.4 Recommendation for sustaining the Customer Loyalty 8 2.5 Conclusion 9 References 10 Task 1. Critical Evaluation of Key Concepts and Theories 1.1 Literature Review on Customer Experience (CE) & Customer Loyalty (CL) Given the competitive landscape today, organization are leveraging their differentiation and competitive advantages not only the innovative products and low prices, better quality but also customer experiences (CE). This experience factor has been defined in numbers of ways. Customer experience is originated from a set of interactions between a customer and a product, a company or a part of its organization which provokes a reaction (La Salle and Brittion, 2003; Shaw and Ivens, 2005). Meyer and Schwager 2007 see it as internal and subjective response that customers have to contact directly or indirectly with the company. Greval et al (2009) also discussed that it include every point of contact at which the customers interacts with the business,...
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...The secret to an organization’s success, according to Joseph Rosenthal and Mary Ann Masarech’s article “High Performance Cultures: How Values Can Drive Business Results,” is a strategic business driver referencing culture and values. Organizational culture is a vital tool for driving high-performance within a business. In the past, only a few businesspeople expressed the importance of organizational culture, while the rest rejected the idea stating that it was weak. In today’s business world, culture is making a name for itself and is on the top of company managements’ business performance outline. What exactly does it mean to focus on culture and focus on performance? “To gain competitive advantage and achieve high performance, it is essential to understand the elements of high-performance cultures” (Rosenthal & Masarech, 2003). Understanding and applying the components of culture can result in competitive gains, advantages, and high performance acquisition. Rosenthal and Masarech continue to state that the core driver for high-performance culture lies within an organization’s values. By the authors’ definition, corporate culture at its most basic level is the sum of an organization‘s behaviors and practices. In short, a culture that reinforces an organization’s success, regardless of the economic state, must be shaped around (1) a clear corporate mission, (2) organizational values, and (3) the encouragement of individual employee ownership. In order for an organization...
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