Swot Analysis Of Fast-Moving Goods Industry
Competitive Forces Within The Fast-Moving Consumer Goods Industry
Rivalry among Existing Competitors: Competitors in this industry include larger companies such as PZ Cussons Ghana, Unilever Ghana Ltd. and Nestle Ghana Ltd. These companies manufacture as well as distribute fast moving consumer goods.
New Entrants: The fast moving consumer goods industry seems to be a profitable one. However, the cost of entering this industry is high thus there are not many new entrants. Costs involved in research and development, marketing, among others all serves as barriers to the entry of this market. Also certain brands have built such a good brand image over the years, making it difficult for new entrants to penetrate and do well in the market.
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SWOT Analysis of the Industry
Strengths:
Fast-moving consumer goods have been an important part of Ghana’s economy. Due to their almost indispensible nature, they form part of the indicators of economic boom. Indeed, these are even linked to the inflation to judge the performance of the government. Major manufacturers and distributors within this industry include PZ Cussons, Unilever and Nestle Ghana Ltd.
The consumer goods industry has for decades, been a key player in the Ghanaian economy, so much so that in 1982, during the PNDC era, the government placed a price control on such goods. The industry has always boasted of being a key indicator of economic growth. The household consumer goods industry in Ghana has over the years benefited the government of Ghana by revenue from imported goods, as most brands within this bracket are imported into the country.
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First is the improvement in technology, which has its characteristic benefits on production. More importantly is the consistent economic growth of the country. An increase in real GDP per capita has its positive characteristic benefits such as a younger buyers market. A more youthful and trendy consumer market in the future means a larger and more vibrant market for household consumer goods including food, clothing, goods, and personal care products, among others. The industry is anticipated to grow tremendously in the future. This anticipated growth is not only due to the anticipated economic growth of the country in the future, but also due to a growth in population. Some manufacturers and exporters of affordable good quality consumer products have began looking to Africa as part of their business
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