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Diversified marketing strategy will drive growth in 2022

31/03/2022 Publication :Times of India Author :Dawinder Pal

Fast-moving consumer goods (FMCGs) enjoy a special seat in Indian markets. It’s India’s fourth-largest sector, with household and personal-care goods accounting for over 50% of sales. Changing lifestyles since the pandemic’s advent and increasing online sales have driven the sector’s expansion exponentially. 

Hence, the segment is expected to grow at a 14.9% CAGR to touch US$ 220 bn by 2025. And while this category has already cornered a lion’s share of marketing budgets and strategies, this matrix will spike further. With digital marketing having entered the mix, marketing strategies should leverage this channel as well. Choosing the right growth strategy at this point can prime businesses for further success in 2022. 

Diversify to multiply profits

As a marketing growth strategy, Diversification entails adding services and goods, or markets to the core business. If these goods entail a brand new product or service line of a familiar industry, the practice is called business level diversification. Else, one may also adopt corporate-level diversification tactics by looking to broach new markets.

Reference link-https://timesofindia.indiatimes.com/blogs/voices/diversified-marketing-strategy-will-drive-growth-in-2022/


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