Read Between the Ps

With the changing behavior of the consumers, and newer channels evolving, companies are fighting for consumer mindspace . More than that, and a step before, in fact, is the battle for catching attention and a portion of the eye span of the consumers – of getting attention towards your products, out of the clutter of consumer goods shelved along with you! This is the reason most companies use tactical measures at the final touch point – the retail outlets, to drive sales. They attempt to plant “ traffic stoppers ” in a bid to make the consumers stand up and take notice of their offerings. What would you suggest to introduce such “traffic stoppers” at the POP? Follow the “P”s and you would recommend innovative packaging, advanced product technologies, sales promotions , etc etc. But what if these methods have been tried and tested, and failed , too! What next? A recent research at Mckinsey Quarterly discussed an innovative application of technology in in-store marketing. The article,...

China is there in almost every 2nd line of news pieces when it comes to global businesses. Rightly so, with a growing middle class, rising income levels, low costs of production and more than 10% annual growth – the package would lure any investor today. Lately, this attention is being focused on the emerging China, where more than three-quarters of a billion people reside. A recent article published at Mckinsey Quarterly recommends an innovative way of leveraging the hard infrastructure of China’s booming telecom market. The article, titled “ Developing a new rural payments system in China ”, by Jan Bellens, Chris Ip, and Anna Yip , highlights the importance of accessible payment system for the rural regions of China, where more than 750 million Chinese reside currently. Lack of payment gateways , high costs involved in setting up additional ATMs and lack of awareness of cashless payment systems limit the current spending patterns of the consumers, and the entire value chain foll...