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Fast Moving Consumer Goods Industry:
In the Fast Moving Consumer Goods (FMCG) sector, we have to act fast to translate ideas into new products. Our job is to identify how lives are changing so that we can create products that people enjoy, trust and use as part of their daily lives. Advertising and marketing have a vital role to play and we're constantly exploring new ways to use developing business channels, like the Internet.
Fast Moving Consumer Goods is one of the largest sectors in the Indian economy. It has a strong presence with National as well as Multi National companies and is known to have the most well established distribution system. The FMCG industry is poised to achieve an overall growth between 8%-8.5% in 2005-06, up 2-2.5% over the growth rate clocked in the previous year. This optimistic prognosis is revealed by the Survey on the FMCG sector carried out by FICCI's research division.
Why to choose it as a career option?
Since the industry caters to the basic needs and amenities of the human being, the chances of it getting majorly affected by economic depressions is unlikely.
FMCG as a Industry segment is extreemly dynamic and highly susceptible to public opinion and choice bringing in a lot of changes from time to time. People also get exposed to team management in the early stages of their career which enables them to become better managers and leaders. No matter what area one wishes to work in, sales, marketing, operations, accounting, etc., he can expect to get more experience in less time working in FMCG than in any other sector of the economy.
The "fast moving" part of FMCG requires people who are flexible. Flexibility requires a wide toolkit and a range of experience. Progression from operations to sales to marketing are not uncommon; in smaller companies all three may occur in one role, while in larger organizations people might get additional responsibilities apart from their own domain as they keep growing within.
Unlike some industries that are concentrated in the major cities, FMCG offers opportunities nationwide to those that are interested. FMCG, through its connection to the primary sector, offers opportunities in smaller cities and rural areas.
India because of its varied topography, different cultures and the presence of all major global MNC’s is a highly respected training ground for FMCG skills and experience. Indian talent is not only appreciated locally but globally as well, with many well deserving expats serving important portfolios internationally in the same field.
The FMCG market is set grow from US$ 11.6 billion in 2003 to US$ 33.4 billion by 2015. As the, penetration level as well as per capita consumption is most product categories like jams, skin care, tooth past etc in India is low, which indicates the untapped market potential. By 2010 200 million people are expected to shift to processed and packaged food, for which India needs around US$ 28 billion of investment in the food - processing industry.
Burgeoning Indian population, particularly the middle class and rural segments, presents an opportunity to makers of branded products to convert consumers to branded products.
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