One thing CPG companies need to build a position of eminence – the consumer

Let’s start with some startling facts about the consumer products and goods (CPG) industry. Failure rates of new product innovations are estimated to be higher than 70 percent globally. Still, more than 80 percent of traditional marketers make decisions based on gut feel and past experiences, instead of using scientific approaches that unlock new insights (for example, advanced analytics). Today, CPG companies are wrestling with a host of market challenges related to market, retailer and technology. Some of the significant challenges faced by the CPG companiesRead more