‘Changing Times, Changing Consumers, Changing Rules of Marketing’ came under the scanner at the Consumer 360 seminar organised by the Nielsen Company in Mumbai on November 4. Consumer 360 gave some deep insights on what consumers really wanted and how brands could adapt to those needs through various mediums.
The seminar commenced with a keynote address by Partha Rakshit, MD, Nielsen, South Asia, made a presentation on ‘Constant Change’. According to him, from a consumer’s perspective, the feeling of the worst in terms of recession was over and that FMCGs across the world had not been impacted as severely as those in many other sectors. From the point of view of global trends, Rakshit said, “Anxiety among the developed countries still persists, while countries like India, China and Australia think that they might be out of the recession in the next 12 months. Brazil, on the other hand, who did not think they might be in a recession earlier, now think that they might be in it.”
Rakshit further mentioned that the value growth for FMCG products in 2008 was higher than that in 2007. Consumer durables, on the other hand, had declined considerably, he said, adding, “It seems that the consumer has postponed a lot of big buying decision due to the recession, but has emptied his pockets for FMCG products.”
Nitya Bhalla, Senior Manager – Analytics at Nielsen presented a paper on ‘Winning in Times of Change’, where she talked about the outlook for the FMCG market. According to Bhalla, the FMCG market had seen three distinct waves of change in the last decade with an overall CAGR of 12.3 per cent with volumes at 8.7 per cent and prices at 6.8 per cent. Based on current trends, Bhalla said that FMCG was expected to clock 12-15 per cent growth in 2009-10. Speaking further, she said, “Right strategies should be adopted and marketing elements have to be prioritised with maximum focus being on nucleus stores.”
The various papers presented during the course of the day included: ‘Key Marketing Strategies in Changing Economic Times’, which was presented by Prasun Basu, Executive Director – Consumer Research and VP of Bases; Shreelekha Choudhary, Associate Director at Nielsen presented a paper on ‘Changing Gear – The states of tomorrow for FMCG’; Asitava Sen, Director – Business Consulting Services at Nielsen presented a paper on ‘Developing Growth Stratergy’; ‘The Ant and the Grasshopper… Decoding the mindset of the Indian Financial Consumer’, which was presented by Kalyan Karmakar; Vatsala Pant, Director – Consumer Research, Nielsen, presented a paper on ‘Nielsen UMAR Survey – Mapping the Affluent Urban India’; Viswanath Mukundala and Deepak Raina, both Group Heads, S Group of TAM, spoke on ‘Emerging Media Consumer – How to catch them in a Dynamic World of Broadcast changes?’; the paper on ‘3 screens: Convergence vs Divergence’ was presented by Shankari Pachapakesan, Executive Director, Nielsen; Karthik Nagarajan, Associate Director – Online Division and IT Practice, Nielsen and Sunila Benjamin of the online division at Nielsen presented a paper on ‘Asking and Listening – in the days of consumer generated media’.