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Insight of the Day: How to Win in CPG: Five Strategies that Work for Growth Leaders

Summary of the article, highlighting strategies for CPG growth leaders:

Challenges and Goals

  • CPG companies strive for steady growth by offering good products at fair prices while engaging consumers.

  • Top performers, such as Idahoan and Constellation Brands, consistently rank high on the US CPG Growth Leaders list, showing success despite economic headwinds.

5 Keys to Success

  1. Consumer Relevancy: Laser focus on understanding consumer needs, connecting meaningfully with them, and being readily available across distribution channels.

  2. Integrated Engagement: Seamless communication across traditional and new media platforms, targeting both in-home and out-of-home consumer experiences.

  3. Continuous Newness: Offering a steady stream of innovations (product variations, new uses, brand crossovers) to maintain interest.

  4. Premium and Value Bifurcation: Targeting both ends of the spectrum, understanding consumers seek value or are willing to pay for premium experiences, depending on the occasion.

  5. Embedding AI: Leveraging AI to cut costs, accelerate innovation, manage inventory efficiently, and optimize marketing outreach.

The Goal: Mental Availability

These strategies, when executed rigorously, ultimately aim to make a brand the "top-of-mind" choice for consumers. By achieving this level of mental real estate, brands become the default choice in their respective categories.

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