What Do Food Expert Advice About Food Marketing Strategies?
An effective food marketing strategy enables food companies to remain competitive and create lucrative growth opportunities for their business. Food industry experts define food marketing as an activity that takes place within the food and beverage companies and consumers. It comprises of processing, wholesale, retailing, food service, transportation, production strategy, and others. The food marketing expert says that the marketing functions are necessary to move the food products from the producers to the consumers. The marketing channels and marketing strategies are different for processed products, packaged foods, and fresh foods. The food & beverage industry is seeing a healthy growth rate over the past few years and is expected to continue the same. According to an estimate by an expert network firm, the global food & beverage industry is foreseen to reach a value of USD27,760 Mn by 2023 from USD18,968 Mn in 2019. The marketing professionals face severe challenges in formulating the food marketing strategy due to the ever-changing taste and preferences of the consumers. Food marketing is a series of marketing events and campaigns that take place within the food company and consumers across the globe. According to a food expert industry group, before formulating the food marketing strategy, marketing executives need to undertake in-depth research to understand their consumer's requirements and then develop products and formulate its sales strategy. The packaging is one of the most effective food marketing strategies as the majority of the consumers first notice the packaging of the food. Food industry giants spend enormous money on brand development, which allows them to generate more demand for their products and creates willingness amongst their consumers to pay. More and more food companies are adopting digital marketing platforms to build brand awareness and enhance their customer loyalty.
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