The Indian economy is poised to grow at a fast rate and according to the International Monetary Fund (IMF), the growth of the Indian economy is projected to grow by 7.5% in 2016-17. There is a growing feeling of confidence among stakeholders and investors in the FMCG sector. As the name suggests, fast moving consumer goods (FMCG) or CPG (Consumer Packaged Goods) are those products that are sold quickly and at a relatively low cost. The sector is made up of those brands and products that are classified as household essentials used daily. Some of these items include detergent soap, shampoo, packaged food, paper and stationery, juices, personal care items, toiletries, and many other consumables. The shelf life of these products is short due to high consumer demand or the perishable nature of the product and therefore these products leave the store very quickly.
This sector is the fourth largest sector in the Indian economy and has experienced an average annual growth of 11 percent in the last decade.
Factors that have driven the growth of this sector include increased awareness, easier access, evolving lifestyles, increased disposable income driving purchases, availability of online shopping, new product launches, and modern e-commerce. innovative. Government policies and regulations, such as relaxation in licensing rules, 51% foreign direct investment (FDI) in multi-brand and 100% in single-brand retailers, have also increased investor confidence in the retail markets. consumption.
Growing awareness among consumers, easier access to channels, changing lifestyles, dynamic demand patterns make the landscape more interesting. Rural, semi-urban and urban markets also add different dimensions to this sector. Brands like ITC, Godrej, Nestlé, Procter & Gamble, Pepsico, Dabur attract consumers with different strategies related to product, price and promotion. The latest entrants, Patanjali Ayurveda with his range of products, have revolutionized the branded consumer goods segment, making it more attractive and competitive.
Role and responsibility
1) Marketing and Sales: The role includes sales volume management, brand management, marketing mix development, innovation and/or sales channel.
2) Operations and supply chain: Develop links between marketing and supply chain, demand planning, smooth and timely delivery of products at the right time and in the right quantity, physical distribution, storage and transportation.
3) Finance – Offering financial transactions and expense management provide financial expertise in business decision making, account management, institutional accounts, and records.
4) Product/Brand Manager: Formulation of brand visions, integrated brand experience management, formulation of strategies that include innovation and communication.
5) Category Manager: responsible for a specific category of products
6) Customer and Account Manager: Business management with customers or key customers. Manage stock supply, promotion plans and provide support for product launches.
7) HR Manager – Manage HR services such as payroll, recruiting, performance, review culture, business partner, management of HR systems and processes.
Eligibility for a Career at FMCG
The eligibility criteria needed for FMCG jobs vary greatly depending on the specific requirements of the job profile and the candidacy requirement. However, for most entry level positions, specialized skills such as an MBA or CA or engineering degree are desired as a qualification depending on the nature of the job. Most FMCG companies visit campuses to recruit new employees and fulfill their talent requirements.
In addition to technical skills and intellectual rigour, companies are also looking for the right kind of personal and behavioral competencies, such as integrity, communication, a ‘can do’ attitude, assertiveness, team skills, lateral thinking , creativity, leadership skills and organizational skills.
How to Select the Right College
Most B-Schools promise a challenging and rewarding career; however, when choosing a university to pursue a management course, one must take into account the previous year’s placement records, the companies visiting the university, the package and the profile offered. In addition, the institute’s industry-academia interface should also be explored alongside live projects and summer internships on offer.
The FMCG sector, with its brilliant growth, continues to be the sector preferred by young professionals and, in turn, meets expectations in terms of labor autonomy, remuneration offered, learning and growth, and positioning of the company in the market.
Welingkar Institute of Management, Mumbai and Bangalore
Jagan Institute of Management Studies (JIMS), Rohini
International Institute of Management Studies (IIMS), Pune
Indian Retail School, Bangalore