Bharatbook.com included “Top Global Food and Beverage Companies” report that explores the features and strategies of eight companies that have played a key role in shaping the global food & beverage industry
Online PR News – 23-September-2009 – – Global branding in the food and beverage consumer packaged goods industry has never been more challenging. Manufacturers are undoubtedly used to working in a ‘fast moving’ industry but in recent years the pace of change has accelerated. In many Western major food and drink markets, the level of competitiveness has been elevated by low volume growth and reduced margins, brought about by market saturation and the rising cost of raw materials. Added to this, retailers have been hugely successful at building premium offerings that compete head on with brands in terms of quality and value. The quest for innovation is becoming harder, forcing businesses to rethink the way they do business, formulate strategy and deliver on consumer expectations. (http://www.bharatbook.com/Market-Research-Reports/Top-Global-Food-and-Beverage-Companies-Strategies-for-Success.html)
One of the most notable industry catalysts has been servicing a consumer with increasingly sophisticated tastes, preferences and power. Today, consumers are highly marketing-savvy and have greater expectations of brands not just in terms of quality and service, but honesty and transparency in how they run their business. Global brands are now confronted with a consumer that is willing and able to voice opinions about a brand and spread it like wildfire via online communities.
Health and convenience remain two of the biggest mega trends confronting manufacturers and play a significant role in shaping product strategy. Environmental concerns are rising, however, and the ‘green element’ is opening up a new set of issues manufacturers need to deal with, notably with regard to packaging and transportation. Devising and executing a robust corporate social responsibility strategy that deals with these issues is becoming a key requirement for global food and beverage brands.
Faced with limited volume growth in major developed markets, high-growth developing markets are becoming much more important to the bottom line. Mergers, acquisitions and partnerships are on the rise as food and drink brands look to establish and build their brands in international markets.
In response to these challenges, global brands are investing heavily in becoming better innovators, focusing more closely on using data and insight to drive strategy. As a consequence, there is a shift to becoming focused around a core mission or smaller set of brands, on which the company can build its foundations and evolve. Innovation is moving quietly into new avenues, where science can create real product differentiation.
From a communications standpoint, new and exciting avenues are being pursued as marketers embrace a wider range of media - offline and online - and build more targeted and intimate experiences for their customers. The power of digital platforms is creating new opportunities for food and drink marketers to build brand awareness and converse with consumers well away from the point of sale, but very much part of an integrated communications strategy.
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