Although there have been tremendous advances in the capability of analytic solutions, many CPG manufacturers and retailers continue to adopt “one-size-fits-all” strategies for national marketing, merchandising, pricing and other plans.
I’ve just completed an article that appeared in AdAge this week, “A Prescription for Resuscitating Growth for CPG Companies,” which notes that the recent recession caused shoppers to dramatically rethink how they research, purchase and use CPG products. CPG performance leaders are taking advantage of this “rethink” to adjust the value proposition of all the products they offer, with an eye toward dramatic levels of customization.
This highly granular approach may result in higher costs short term, but the long-term ROI and competitive advantages far outweigh the initial price tag. I’ve outlined a five step approach to achieving the “perfect store,” one where every shopper feels like the shopping experience was created just for him or her.
Read my entire article at: http://adage.com/cmostrategy/article?article_id=144299
