The challenge lies in growing in a market with fewer buyers, less available space and greater competitive pressure. However, there are signs of an improving economy from which mass market companies must be capable of profiting.
In order to thrive in this scenario and compete in a context of deflation (caused by the price war), companies need to develop initiatives for increasing product profitability by efficiently managing the different channels and their respective sales and product policies. Since Spain is immersed in a transition toward an export-driven model, another option is to seek the capabilities and resources for developing and/or consolidating exports and internationalization processes.
In a context in which the focus on innovation has gradually diminished, it is essential to develop innovative products that can break through the barriers to entry for distributors.
However, innovation should not be the sole means for generating incremental value: the value of the products currently on the market needs to be increased, and it is in this respect that revenue growth management can provide a useful tool for managing the portfolio of products, channels and customers.
Managing customer experience has become a primary factor of differentiation and an important driver of growth. It is therefore essential to understand modern consumers and how to reach them efficiently, profitably and decisively. And of course, to reap the full benefit of these efforts we must be capable of understanding the role that brands play for consumers and distributors.
Technological innovations will also revolutionize the way in which we relate to each other and do things. We will have access to vast amounts of information gathered from a wide range of sources, and this will enable companies to adapt their offer to consumers much more accurately.
Lastly, companies dedicated to out-of-home consumers need to develop initiatives to consolidate this market, since it has shrunk considerably.
