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From Great to Gone: Why FMCG Companies are Losing the Race for Customers by Peter Lorange

From Great to Gone: Why FMCG Companies are Losing the Race for Customers

by Peter Lorange
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Book cover type: Paperback
  • ISBN13: 9781138279391
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Taylor & Francis
  • Publisher Imprint: Routledge
  • Publication Date:
  • Pages: 174
  • Original Price: GBP 58.99
  • Language: English
  • Edition: N/A
  • Item Weight: 291 grams
  • BISAC Subject(s): Strategic Planning, Education, and Entrepreneurship

The modern consumer is no longer attracted by single-minded, predictable and one-benefit-focused brand promises. The old-fashioned FMCG communication strategies based on television, radio and print with constant repetition have become outdated. From Great to Gone shows that what's needed are 'Lego' strategies, whereby the marketing and communication strategies are built up by many key facets (like building blocks) and delivered to the consumer through a mix of various touch points. Most importantly, you need to leave consumers to put all of that together themselves. There are major internal and external hurdles to transforming FMCGs successfully into FICGs - Fast Innovating Consumer Goods. It requires new brand strategies and flatter, more top-down than bottom-up, decision-making organisations and a 21st-century model for advertising agencies. Externally these companies need a new route to market through transformation of their old retail dependencies. Changes are also required in all communication delivery, reflecting modern consumers' connectivity and unlimited access to information. In the book the authors showcase what the winners of the 21st century have in common that has enabled them to become FICGs. New, unimagined models continue emerge, to which, with the authors' guidance producers and retailers may develop their own sustainable responses.

Peter Lorange is the founder and President of the Lorange Institute of Business Zurich (since July 2009). He was President of IMD, Lausanne from July 1993 until April 2008, where he is currently Professor of Strategy and the Kristian Gerhard Jebsen Chair of International Shipping. He serves on the board of directors of several corporations including Fundacao Dom Cabral, Brazil, Vienna University of Economics and Business, Preferred Global Health and Seaspan Corporation. Peter Lorange has written or edited 18 books and some 120 articles. Jimmi Rembiszewski rose from sales trainee to become Group Marketing Manager of P&G. In 1988 Jimmi joined Jacobs Suchard as a member of the board for New Brands, Research and Media. From there he moved to the role of Business Development Director Worldwide, Confectionery Sector, with Philip Morris before joining British American Tobacco as Marketing Director and Regional Director Europe. In 1996 he became a board member of the new BAT and remained as Marketing Director for the group until his retirement at the end of 2009.

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