The second FMCG Consumer Reaction Awards will be held in Mumbai on March 3, 2006. The Awards were set up in 2005 with the objective of recognising brands that are most popular among the masses and all awards are determined by consumer votes. This award ceremony is the brainchild of R L Bhatia, CEO, Fun and Joy at Work.
Elaborating on the Awards, Bhatia said, “The FMCG sector is vast and organisations are making incredible efforts to retain the top position in the market. These efforts need to be recognised and rewarded. Keeping the same in mind, and in continuation of our value added efforts, we have conceptualised this very innovative activity.”
The uniqueness of these awards is that they are based on the consumer’s feeling and acceptance of a product amid the several competitive products that exist. Products are given awards after intensive research and proof that consumers like and accept the product.
Bhatia added, “The FMCG Consumer Reaction Award is a tribute to a brand, which is by itself a ‘master brand’, as the consumer likes it and makes it part of his buying habit. The aim of the awards is to recognise the most popular brand in each product category as well as the efforts and contributions of individuals in the FMCG segment. They are a testimony of the continuing efforts of the FMCG sector to achieve consumer satisfaction.”
The process for deciding the winners starts with students of Bharti Vidyapeeth’s Institute of Management Studies and Research doing an in-depth research in various categories of consumer products that the consumers use and need in their day-to-day life as a pattern of behaviour and consumer buying habit.
A structured questionnaire comprising various categories and names of multiple brands is presented to almost 25,000 consumers in major cities across India. The consumers between the age group 16 years and 56 years are asked to tick mark their preferences and buying habits. The responses are collated, reviewed and validated by a team of market research specialists. The jury consists of eminent professionals who evaluate the research findings to finalise the award recipients.
Commenting on the final winners, Bhatia said, “This year’s Awards will reveal market changes as well as changes in consumer behaviour, tastes and preferences.”