If I could sum up “success” in the consumer packaged goods, or CPG, industry in one word, that word would be SPEED — the speed at which the best companies take advantage of the latest consumer trends and defend their market share against the competition. (more…)
In brand-driven industries like consumer products, where margins are slim and the business environment is unpredictable, it is crucial to monitor costs and revenues closely. Such profitability analysis is critically important across a variety of business functions in consumer products as it provides sales, marketing, product management, finance and other departments with information to support internal accounting, month, quarter and year-end close activities and other ongoing decision-making. (more…)
In his previous blog post Andy Dé discussed how visionary retail and consumer products companies were at the forefront of deploying social media (and mobility where relevant) to engage with their customers using a ’7 Stage Social Media (and mobility) Value and ROI Life cycle Model’. He now focuses on the best practices in Social Media from Consumer Products specifically in the light if stages 5, 6, 7 of his life cycle model. Read the full blog post.
In a previous blog post Andy Dé has explained how social media is being adopted and leveraged in a Healthcare context. In his latest article he focuses on the question of what the value and return on investment (ROI) from Social Media initiatives is. If you are interested in learning more read his ’7 Stage Social Media (and mobility) Value and ROI Life cycle Model’ evaluating best practices in retail and consumer products. (more…)
In a recent re-read of Peter Drucker’s classic The Effective Executive (1966), I found myself pondering its relevance 45 years hence amid the immense changes in society and technology. My conclusion is that it has withstood the test of time. Drucker identified successful companies as those that pursue new technologies or new business models. He did not see much value in solving a problem “which only restores the equilibrium of yesterday,” but rather value is found in converting an “opportunity into results.” (more…)
Having read the recent article on new business for transformed telcos by my colleague Fergus O’Reilly, chief solution expert, Consume to Cash, SAP, I was interested in hearing more. So I sat down with him to learn more about consume to cash solutions and why telcos can be exemplary of business transformation across many different industries. I also learned why product-based businesses are increasingly moving to become service businesses, and the importance of direct customer relationships, flexible pricing models and running multi-sided markets. (more…)
From the Consumer Goods Sales and Marketing Summit, being held June 6-8, 2011, in New York, SAP today announced the SAP Trade Promotion Optimization application. The software will deploy advanced modeling and predictive analytic capabilities to enable marketing and sales teams to systematically predict and optimize promotion outcomes, including revenue and profit, for both manufacturers and retailers. Read the newsbyte.
To my earlier point that analytics would be hot topic this year at SAPPHIRE NOW, along comes a standing room only presentation from General Mills. Yup, it was standing room only in the Analytics Theater as attendees were eager to learn how General Mills delivers targeted, accurate and timely information.