Companies working in the consumer packaged goods segment, have their work cut out. In order to win over the customers, they need to rely heavily on digital marketing. To start off, they need a strong key- account management, that looks after priority clients. An e- category management system has to be developed which will look in to the upcoming opportunities. Latest, cutting- edge technology ought to be used in here. This will focus on a number of aspects beginning with assortment, followed by pricing and promotions. Merchandising and marketing is the third stage. Brands also need to develop a high Digital Quotient (DQ) for themselves. Amazon and L’Oreal for instance have done well with these strategies. Honing a DQ depends a lot on the company culture created. The right organizational structure too needs to support this.

Source:https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-digital-future-of-consumer-packaged-goods-companies

Uploaded Date:15 June 2019