Fast-Moving Consumer Goods (FMCG) or Consumer Packaged Goods (CPG) are products that are sold quickly and at relatively low cost. Examples include non-durable goods such as soft drinks, toiletries, over-the-counter drugs, processed foods and many other consumables. In contrast, durable goods or major appliances such as kitchen appliances are generally replaced over a period of several years.
To launch new and maintain existing products on the FMCG and retail market, companies need well-chosen business strategies. Market research (into local or international markets, depending on a product’s reach) is an invaluable source of insight when it comes to developing an effective strategy. Research is useful at all stages of a product’s life cycle – from concept development to pricing and marketing strategy formulation. Analysis of competition and distribution channels is also a worthwhile exercise. Research can even extend to advertising – its concepts and campaign effectiveness.
Key projects carried out by the IDEALWEEN Research team in the FMCG and retail sector involved product, brand image and advertising research. In standard marketing research, we rely on our proprietary dedicated Idealween Brand Image methodology. We also have experience in researching consumer shopping and eating habits.
The most common types of research in the retail and FMCG market:
- Product concept testing
- Brand research
- Copy tests
- Usage & Attitude studies
- Research into name, logo and packaging
- Shopping and eating habits research
- Taste and scent tests
- Price testing
- Market analysis
- Distribution channel analysis