And which variables of consumption pattern are necessary in FMCG sector? I am doing Corporate Project on Brand Image & preferences of Pepsi VS Coca Cola. Kindly give me your expert opinion in this regard.
On the broader note these can be Social-cultural, Economic and advertisement factors that are closely related to consumption pattern in FMCG sectors. You can explore these factors for variable selection for your research.
do you mean which factors will probably have the highest impact on FMCG consumption patterns?
When it comes to rather low involvement categories consumption (as in FMCG), the patterns stronger shift from a cognitive and extensive evaluation to a habitual and affective reaction on brands and products. Prerequisite is of course a good distribution/ shelf placement and pricing strategy, but of course an important preference driver of course will be brand image/ associations and the relevant benefits/ Needs tha brand is able to activate. When you think of Coke and Pepsi in particular, I can just refer to well-known blind tastings of Coke vs. Pepsi, which demonstrate, that a strong brand will affect the consumption pattern (purchase) finally.
Mr. stephan Betz, Thank you for your valuable opinion.
You are talking about those factors which increase the buying behavior of consumers but i want to ask you about what are other variables which are necessary in FMCG Sector ( For example, Quantity, frequency or occasion, what are others? ), now you can understand what i mean. Kindly give me your valuable suggestions and opinions in this regard. Thank you!
Do you have access to some segmentation studies on fmcg or beverage marktes? These could deliver interesting findings, as they usually shed light on aspects like relevant consumption occasions, needs, consumption time and place as psychographic information (e.g. eco-conscious vs. sugar addicts). As such Studis will identify key needs that strongly drive beverage consumption they will link Thoss nneds to dominant occasions, consumer typologies ans also place/date of consumption
@ Asia Bashir! After reading detail explanation from Stephan Betz! I think there are not much variables left over but one I think will be useful in current economic situation is "Inflation" and second "Market area" like rural or urban.
To my opinion various determinants which can play a significant role can be various environment factors viz: Economic factors, Socio -cultural factors, Tastes and Preferences of an individual, Advertising and Marketing factors and Supply chain or distribution channel.