A study on product and pricing strategies of FMCG Companies in India

In the title “A Study on Product and Pricing Strategies of FMCG Companies in India”, the present study focused on effect of product and pricing strategies on consumers purchasing behaviour, satisfaction and brand loyalty among the FMCG Companies of India. From the findings it can be seen that the product quality an all important factor affecting the purchase decision effectiveness of the study results reveal that consumers have given much consideration to the reliability of their product, its performance and the overall value associated with the product whilst purchasing FMCG products. Furthermore, the study highlighted the significance of the brand reputation and packaging, both impact consumer preference and add to their brand trust, recognisability, and quality perceptions of the product. The effect of pricing strategy on consumer behaviour was also observed and many of the respondents thought that promotion, discounts and competitive pricing positively affects their buying behaviour. The results show that today's consumers are supper conscious on value and they do not hesitate in analysing product and price attribute prior to purchase an item. This study confirms that high product quality, in combination with brand, the qualities of the packaging, and the prices offered by oriented customer services, make a very great difference in customer satisfaction, and repeat purchases. Moreover, the results accentuate that for the companies, it is imperative that they constantly innovate and update their product variations and pricing techniques to meet with the evolving requirements of the customers and the new players entering FMCG industry. The study concludes that, it is really important to sensibly balance the Product differentiation and Value based pricing to get sustainable success in FMCG industry. It can aid to enhance the competitiveness of the market, customer bond and hence Customer Loyalty and profits. The study could be expanded in other parts of India with a bigger and mixed population. Future areas of research can be conducted on varying product classes of FMCG, rural/urban comparisons and contrasts, effect of digital marketing activities, buying behaviours of online consumers, understanding how and why product and price decisions are made when it comes to sustainable products and issues. Comparing market analysis based on company and market analysis based on consumer behaviour among various FMCG companies might also give a better understanding about the changing dynamics and influence in the market which could be beneficial in future market planning.

1.       Aaker, D. A. (2020). Brand relevance: Making competitors irrelevant (2nd ed.). Morgan James Publishing. 2.       Ashrafimoghari, V., & Suchow, J. W. (2022). A game-theoretic model of the consumer behavior under pay-what-you-want pricing strategy. arXiv. https://arxiv.org/abs/2207.08923 3.       Chaffey, D., & Ellis-Chadwick, F. (2022). Digital marketing: Strategy, implementation and practice (8th ed.). Pearson Education. 4.       Grewal, D., Levy, M., & Kumar, V. (2021). Customer experience management in retailing: An organizing framework. Journal of Retailing, 97(1), 3–14. 5.       Kotler, P., Keller, K. L., & Chernev, A. (2021). Marketing management (16th ed.). Pearson Education. 6.       Kumar, V., & Verma, P. (2023). Consumer-centric product development and innovation strategies in emerging markets. International Journal of Marketing Studies, 15(2), 45–60. 7.       Kusuda, Y. (2021). Price and fulfillment strategies in omnichannel retailing. arXiv. https://arxiv.org/abs/2103.07214 8.       Malhotra, N. K., Nunan, D., & Birks, D. F. (2022). Marketing research: An applied approach (6th ed.). Pearson Education. 9.       Monroe, K. B. (2021). Pricing: Making profitable decisions (4th ed.). McGraw-Hill Education. 10.     Patel, R., & Shah, M. (2024). Packaging innovation and consumer perception in FMCG products. Journal of Consumer Marketing Research, 12(1), 88–102.