Does cultural economics affect country’s competitiveness?

Abstract

The study conducted with Nestlé retailers aimed to understand the factors that would improve the product positioning and placement of newly launched Maggi Korean noodles among FMCG food retail channel. Study emphasized upon the critical elements influencing the purchasing decision of retailers for a new product. Extensive market research was carried, which included surveys with 880 retailers in the Navi Mumbai region. In order to understand the factors that influence retailers’ preference Maggi Korean noodles in their outlet, purpose of the survey was aligned with it which aimed to gather a wide range of information on the variables such as brand awareness, promotional offers, pricing margins, return policies, and credit terms. This information provides a solid basis for examining the preferences and actions of retailers. The gathered data was analyzed with the help of SPSS and multiple regression statistical method was used to impact independent factors on purchase decision of shopkeepers. Overall the paper gave deep insights related to functioning of FMCG industry and retailers’ behavior.

Keyword : New product, retailer behaviour, FMCG products, product placement