We are seeing positive things as far as the market is concerned," said Wipro Consumer Care and Lighting CEO Vineet Agrawal. Fortunately, the cost prices have come down, initially, they jumped last year due to the Ukraine war. Hopefully, if the monsoon is good, we will see a better second half. Banking on good Monsoon for a better 2nd half, not unduly perturbed by entry of Reliance in FMCG: Wipro Consumer Care "It's not like the good old pre-Covid era and I think smaller towns and rural areas are still a bit of a challenge but things are improving.It helps it stand out from the clutter of products and names.Ī product should be adaptable: with trends, time and change in segments, the product should lend itself to adaptation to make it more relevant and maintain its revenue stream. Advertising and 'brand building' best do this.Ī product needs a name: a name that people remember and relate to. A product needs to be functionally able to do what it is supposed to, and do it with a good quality.Ī product needs to be communicated: Users and potential users must know why they need to use it, what benefits they can derive from it, and what it does difference it does to their lives. In FMCG parlance, a brand can be revamped, re-launched or extended to make it more relevant to the segment and times, often keeping the product almost the same.ĭescription: A product needs to be relevant: the users must have an immediate use for it. Each product has a useful life after which it needs replacement, and a life cycle after which it has to be re-invented. The price that can be charged depends on the market, the quality, the marketing and the segment that is targeted. Every product is made at a cost and each is sold at a price. It can be physical or in virtual or cyber form. Definition: A product is the item offered for sale.
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