MODERN CONCEPTS OF INTERACTION WITH CONSUMERS IN THE FMCG SECTOR
Journal Title: Journal of Economic Research & Business Administration - Year 2023, Vol 146, Issue 4
Abstract
The scientific article thoroughly analyzes contemporary consumer engagement strategies within the FMCG sector, exploring innovative methods by leading brands to connect with their target audience and enhance sales performance through developing consumer-brand relationships. The primary aim of this research is to scrutinize the current state of consumer engagement in the dynamic FMCG sector. The study employs a multifaceted methodology to emphasize the sector’s need to adapt to evolving consumer behaviors. This includes extensive desk research, expert interviews, and retail audits to delve into modern consumer engagement concepts. Expert interviews with 40 FMCG professionals specializing in demand management, marketing, sales, or retail constitute the primary research. Quantitative survey data underwent statistical analysis, while qualitative information was extracted through thematic analysis. The study also incorporates a crosssectional analysis and audit of retail trade in Kazakhstan, utilizing structured checklists, questionnaires, and observation protocols to assess implementation and effectiveness, aligning with expert opinions. The study identifies “Ideal Store” and “Omnichannel Communications Strategy” as pivotal concepts, emphasizing the importance of in-store interaction and digital technologies. Key elements such as product visibility and loyalty programs are deemed crucial, with sustainability ranking lower. A Kazakhstan retail audit pinpoints challenges in product placement, technology integration, and loyalty programs, underscoring the imperative for improvement. Recommendations stress exploring customercentric approaches and the strategic use of digital technologies to enhance consumer engagement in the FMCG sector. This study significantly contributes to comprehending consumer engagement strategies in the FMCG sector, offering practical insights for FMCG companies to enhance consumer interaction, bolster brand loyalty, and optimize sales efficiency. The proposed innovative approaches can fortify market positions and ensure sustainable growth in an industry marked by continual change.
Authors and Affiliations
Z. B. Akhmetova, I. A. Kim
Keywords
Related Articles
- EP ID EP729459
- DOI 10.26577/be.2023.v146.i4.08
- Views 44
- Downloads 0
KNOWLEDGE RETENTION STRATEGY AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN ADO-EKITI METROPOLIS
The study examined the effect of knowledge retention strategy on performance of Small and Medium Enterprises in Ado-Ekiti Metropolis while the specific objectives are to investigate the effect of transparency, feasibi...
COMPETITIVENESS ON THE GLOBAL OILSEEDS MARKET
Numerous factors influence competitiveness in the global oilseed market, including technological innovations, trade policies, consumer preferences, and pricing strategies.This article emphasizes the need for further rese...
WORKLOAD ALLOCATION AND SECONDARY SCHOOL TEACHERS’ RETENTION AT CHAMWINO DISTRICT, TANZANIA
The study sought to assess the influence of workload allocation on teachers’ job retention in Chamwino District Council of Tanzania. A cross-sectional research design was used with a quantitative research approach. The s...
STRATEGIC CRITERIA ASSESSMENT FOR ENTREPRENEURIAL PROGRESSION IN THE CREATIVE SECTOR
The paper investigates the nuances surrounding the cultivation of creative entrepreneurship within the realm of classical music, employing rigorous qualitative research methods. Through in-depth i...
EXPLORING SPECIAL ECONOMIC ZONE GOVERNANCE: A COMPARATIVE STUDY OF KAZAKHSTAN, THE RUSSIAN FEDERATION AND KYRGYZSTAN
The world experience shows many successful cases of the development of special economic zones. Effective governmental regulations on this matter are crucial for creating a favorable infrastructure and reducing administra...