Consumer Products Industry Under Attack: Reclaiming Market Share - Part 2

Technology Revolution: The Future of Now

Bonnie D Graham

News, Business News, Technology

4.9 • 112 Ratings

🗓️ 12 September 2018

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

The buzz: “56 cents of every dollar spent in a store is influenced by a consumer’s digital interaction with the product over multiple connected devices.” (deloitte.wsj.com/cmo/2017/01/26/2017-consumer-products-outlook). Consumer Product (CP) companies are being forced to rethink channel partner relationships, product mix and pricing strategies. Why? Because of business-as-usual disruption by eCommerce giants like Amazon, direct-to-consumer subscriptions, and expanded retail private label lines. How can CP companies use data to bolster their brands and strengthen consumer loyalty? The experts speak. Jerry Wolfe, Vivanda: “Give me only what I need, It doesn't take too much to keep me satisfied” (Rival Sons). Barbara Thau, Retail Writer: “…one job is not better than another” (Geoffrey Owens). Colby Sheridan, SAP: “Either write something worth reading or do something worth writing” (Benjamin Franklin). Join us for Consumer Products Under Attack: Time to Reclaim Market Share – Part 2.

Transcript

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0:00.0	Welcome to the most nutritious hour of business talk all week.
0:13.2	This is Coffee Break with Game Changers, presented by SAP.
0:17.1	The best run business is run SAP.
0:19.7	Your host and moderator is Bonnie D. Graham.
0:22.1	You'll hear from the innovators who have learned to use game-changing technologies to shake up the status quo and help move today's businesses in new directions.
0:30.0	Now, here's Bonnie D. Graham.
0:32.9	Welcome, welcome, welcome.
0:34.4	If you want to run with the game changers, you're in the right place because this is where
0:38.4	the best run.
0:39.4	If I found a little different than usual, it's because we're in hurricane territory and
0:43.6	having a little trouble with the modem, but we are here.
0:46.5	So let's get started.
0:47.7	What is the buzz on the street? I have a quote from Deloitte.wesj, that's wallstreetjournal.com, and here's the quote.
0:56.0	56 cents of every dollar spent in a store is influenced by a consumer's digital interaction with the product over multiple connected devices.
1:06.5	Now, if you think about that, they're talking about multi-channel.
1:09.6	They're talking about the buyer's journey.
1:11.8	It's happening long before a lot of people set foot in a physical brick-and-mortar store.
1:17.0	It's happening long before they even chat with a salesperson, whether it's a human or a robot.
1:22.1	So a lot of connected devices.
1:24.7	What is happening in the world of consumer products companies?
1:28.3	CP companies are being forced to rethink everything, their channel partner relationships,
1:34.7	their product mix, their pricing strategies, and this is because of disruption.
	...

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