Cracking Russia: consumer product approaches in 2011
Industry approaches in first half of 2011
Growth should have been stronger and more consistent. Mixed economic indicators are causing real concern.
2011 might be turning into a better year than 2010 for many consumer product companies, but very few feel they have "cracked" Russia.
Local consumer products executives feel that growth should have been stronger and more consistent and mixed economic indicators are causing real concern. Against this backdrop, the challenge facing many local leaders is communicating to headquarters how much Russia can grow and how fast. With companies reporting a mixed performance, the focus is on getting back to basics — redefining what customers want, how the value proposition should play, what operating model to adopt and how best to use social media.
We look at how companies are:
Takeaways from the Russian consumer products market in 2011
What do you need to know about consumer products companies operating in Russia? Here are some of our findings from conversations with executives:
- For all companies, 2011 is looking better than 2010
- Most executives agree that there is still a market for premium
- All executives are experimenting with social media
- Human resources and talent management are still on the top of everyone's agenda
- Getting the "right" operating model is critical to success