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Abstract
Innovation always drives people and intrigues an individual in the choices of consumer products they use; we live in a competitive world where FMCG brands come up with different marketing strategies in order to satisfy customers, and, make them relate better with regard to their products. Marketing strategies play a vital role in the consumers' decision making process, as the strategies are designed particularly in achieving the organisational goals. Different companies follow different strategies to meet their objectives, and the strategies which companies implement have a greater impact on consumer behaviour towards the product. The organisations forecast the future while implementing the marketing strategies, and, also analyse the areas in which they need to improve, and the changes which have to be taken into consideration. The organisation cannot enjoy success unless they come up with strategies which will help them in meeting their objectives.
FMCG companies mainly concentrate on product innovation, and use strategies like Multi brand strategy, new product development etc. This paper studies the marketing strategies used by Nestle India Ltd & Britannia Industries Ltd, furthermore examines the impact of these strategies on consumer behaviour and suggests the measures to be taken to improve their marketing strategies.
Keywords: Marketing strategies, Consumer Behaviour, Innovation, Quality, Organisational Goals.
Introduction
A Marketing strategy is a plan of action designed particularly for achieving marketing objectives in an organization or a firm. Marketing strategies play a vital role in the organizations growth. It is very important for an organization to forecast the future while implementing the strategies.
The success of FMCG companies purely depends on their marketing strategies, and the impact it has on consumers mind, as marketing strategies helps the organization to meet their objectives and goals. FMCG companies mainly concentrate on "Product Innovation" and they use strategies like Multi Brand strategy, Product Flanking, Brand Extensions, Building Product Lines, New Product Development, Product Life cycle strategy, etc..,
Objectives of the Study
* To study the impact of marketing strategies used by Nestle India Ltd and Britannia Industries Ltd.) on consumer behaviour towards FMCG Products
* To study factors that affect consumer behaviour towards FMCG
* To study measures taken by FMCG Brands to improve their marketing strategies
Review of Literature
MHB McDonald, L De Chernatony,...