FMCG is a very common term used a lot in the economic industry. However, what is the specific definition of FMCG is still the question of most of you. Therefore, let's join Giaiphapdonggoi.net to learn about what FMCG is because it will give you the answer and a detailed look at this industry.
Table of Contents [Hide]
1. What is FMCG?
What is FMCG?
FMCG stands for "Fast-moving consumer goods", also known as consumer packaged goods (CPG) consumer packaged goods, used to refer to products that are in high demand, sell quickly and good price. Such items are considered “fast-moving” because they quickly leave the shelves of a store or supermarket because consumers use them on a regular basis.
FMCG goods often have a short shelf life due to high turnover or perish quickly. Examples: prepackaged foods, toiletries, beverages (soft drinks), stationery, over-the-counter medicines, cleaning and laundry products, plastic products, personal care products as well as less expensive consumer electronics, such as cell phones and headphones.
Some FMCG items are highly perishable, for example meat, dairy products, baked goods, fruits and vegetables. FMCG sales will often be affected by discounts in supply stores as well as holidays and other seasonal periods.
2. Role in FMCG
The FMCG industry is vast and incredibly diverse, with a wide range of roles for all different skill types. Talented workers from STEM fields are highly sought after in this field, as these are the people who can help FMCG companies:
Role in FMCG
Improve product quality and efficiency.
Reduce costs through technological advancements.
Increase shelf life by delaying product expiration.
Create more eco-friendly products and packaging solutions.
>> Let's learn about adhesive tape products in packaging goods
3. Working at an FMCG Company
The multi-million dollar FMCG industry is very creative and innovative. Businesses are always looking for affordable and readily available consumer products. FMCG products are used by most people from day to day. As an employee, you can easily identify with the industry.
If you are someone who is looking for a work environment that fosters the sharing of ideas and creativity, you may want to consider working with an FMCG company. With a wide selection of products being offered to regular consumers, the industry needs to keep pace with demand and needs to constantly come up with new product ideas.
With core areas of sales, marketing, information services, finance, research and development, and human resources, the industry offers a wide range of career opportunities. Here are some of the roles you might see in an FMCG company:
Procurement Analyst: The role of a procurement analyst involves analyzing and interpreting technical data to better understand costs arising from different aspects of the business.
Sales Manager: Sales play an important role in the FMCG industry. A sales manager is essential in growing a business by attracting new customers and retaining existing ones.
Stock control director: The stock manager role entails properly allocating stock and keeping track of stock so that business goals can be met.
4. What makes a successful FMCG Brand
What makes a successful FMCG Brand
Any successful FMCG product will usually be a low-cost but high-volume item. While the profit margin from such a product can be quite small, FMCGs show a high sales speed. If a brand can move enough volume, it can generate impressive overall profits. This has made the FMCG marketplace the ideal proof-of-concept platform for new brands and CPG startups – the low cost allows manufacturers to experiment.
The drawback is that FMCGs tend to be highly competitive segments where first impressions are crucial. FMCG brands will have to have a rich understanding of their customers, categories and competition. This understanding will influence everything from promotional strategies – such as launch discounts and holiday sales – to A/B testing for attractive packaging.
While FMCG products sell quickly, support markets can also change quickly at times. Hopefully, through this article that we provide, you will have a comprehensive view of the FMCG industry as well as open career opportunities in the industry.
Read more articles on the same topic:
- What is FIFO? What is LIFO? What is the difference between FIFO and LIFO?
- Email markWhat is eting? Advantages and disadvantages of Email MarketingWhat is eting? Advantages and disadvantages of Email Marketing
