A few years ago, new products like charcoal soap or onion hair oil could be seen on the websites of direct-to-consumer (D2C) companies. Now you can see such new products in supermarkets or grocery stores. The credit for this goes to digital and social media. FMCG companies are keeping a close watch on social media. They are using the feedback received there to launch new products.
Recently ITC launched Frozen Stanks and Cooking Pastes. It launched these under the ITC MasterChef brand. In fact, the company noticed the increasing inclination of people towards Convenience Foods during the Corona epidemic. Similarly, Godrej Consumer launched a charcoal soap under the brand Cinthol. Actually, the company saw customers looking for such products on the direct-to-consumer platform.
Somashree Bose Awasthi, Chief Marketing Officer (India), Godrej Consumer, said, “Digital media and social media are powerful tools that help companies understand what customers want. Experts say that it is necessary for an FMCG company to have a New Product Development Strategy (NPD) to succeed in a market like India.
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ICICI Securities in its report have said that NPD is not only necessary for extra growth, but it has become a necessary preparation. This is the reason why many FMCG companies have taken the help of digital marketing companies for ‘social listening’. This helps them gain insights from social networking platforms.
Suvdeep Banerjee, Chief Digital Marketing Officer, ITC said, “ITC has created a marketing command centre. It is named Sixth Sense. It focuses on tracking social media metrics as well as momentum marketing, insights, data and industry benchmarking. tells.” He told that Sixth Sense helps the company to understand the conversations happening on social media.
Tata Consumer Products has also launched several products after seeing popular demand on social media. The company forayed into the premium coffee space last year with the launch of D2C brand Sonet. Six months later the company launched Moka Pot. Behind this was the understanding of consumer demand on social media.
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