Exploration of the reward preferences of generational groups in a fast-moving consumer goods organisation

2020 ◽  
Vol 18 ◽  
Author(s):  
Dale Fobian ◽  
Frans Maloa
Keyword(s):  
Consumer Goods ◽  
Fast Moving ◽  
Generational Diversity ◽  
Scale Reliability ◽  
Fast Moving Consumer Goods ◽  
Generational Groups ◽  
Managerial Implications ◽  
Consumer Goods Industry ◽  
Value Add

Orientation: The generational diversity of employees evident in today’s workforce and the important role of reward in meeting a wide variety of needs to attract, motivate and retain employees for the organisation are a key strategic contribution.Research purpose: The purpose of this study was to explore how, whether and to what degree employees from different generational groups differ about preferences on total reward components in the fast-moving consumer goods industry, for purposes of attraction, retention and motivation.Motivation for the study: The rationale for this study was to explore and improve the understanding of reward preferences of different generation groups.Research design and method: The research was a quantitative, empirical and descriptive study of reward preferences in an industry-specific context. A self-administered survey instrument was used and analysed using tests for internal consistency and scale reliability, various measures for factor analysis and a general linear model, involving a multivariate analysis of variance (MANOVA), to test for significant differences between independent and dependent variables.Main findings: Baby Boomers, Xers and Millennials did not differ significantly about preferences regarding financial and non-financial rewards. Millennials do not prefer non-financial rewards to financial rewards. The variance, however, was not large.Practical or managerial implications: The research results provide management with informed knowledge of the types of rewards that can be administered to employees of different generational groups to attract, retain and motivate them.Contribution and value add: The research has added insight into the reward preferences of generational groups and made recommendations for improving reward strategy for the attraction, retention and motivation of employees in the fast-moving consumer goods industry.

scholarly journals Emergence of New Marketing Distribution Strategies: A Call for A Paradigm Shift

2019 ◽  
Vol 4 (6) ◽  
Author(s):  
Samuel Affran ◽  
Richard Kwabena Asare
Keyword(s):  
Consumer Goods ◽  
Fast Moving ◽  
Service Industry ◽  
Sales Performance ◽  
Significance Level ◽  
Distribution Strategy ◽  
Unit Change ◽  
Study Results ◽  
Fast Moving Consumer Goods ◽  
Consumer Goods Industry

The purpose of this research is to empirically formulate new distribution strategies that can service the fast moving consumer goods industry and the service industry as a whole. Inspiration was drawn from the orthodox distribution strategies (intensive, selective, and exclusive) currently used in the service industry. To approve its empirical efficacy the study is set also to determine the impact of these new strategies on sales performance. The study is implemented through a two-stage process of literature review and empirical survey. Evidence was drawn from Ghanaian fast moving consumer goods industry. Sstructured questionnaire was used to gather data from 415 randomly sampled members in the target population. The data obtained were processed using SPSS version 24. Multiple regression analysis was also used to assess its impact on sales performance. The study revealed that inten-electro aggressive strategy  with an average mean of 4.02  is the most adopted strategy by the Fast-Moving Consumer Goods Companies followed by selec-electro aggressive distribution strategy(average mean  of 3.81) and exclu-electro aggressive distribution strategy(average mean of 3.74) in that order. The study again revealed that there is a positive significant relationship between inten-electro aggressive strategy and sales performance ( = .490, p< 0.05). This newly propounded strategy (inten-electro aggressive strategy) is proven to have a significant impact on sales performance in the fast moving consumer goods industry understudy. Thus, inten-electro aggressive strategy has a moderate positive relationship with sales performance.  The statistical implication is that, holding all other variables constant, inten-electro aggressive strategy induces 49.0 % change in sales performance of the fast moving consumer goods firms understudy. Thus, this result proves that a unit change in the effective execution of this strategy will induce 49.1% change in sales performance. In other words when inten-electro aggressive strategy is improved by 1%, sales will be improved by 49.0 percentage change. The significance level of this outcome according to the study results was 0.00 which is less than 0.05 indicating that the variance between the two variables in question was significant. The result again proves that exclu -electro aggressive distribution strategy, impact positively on sales performance. It poses as a reasonable positive inclination to sales performance; thus ( = .595, p<0.05), Thus, holding all other variables (InEADS & SeEADS) constant, Exclu -electro aggressive distribution strategy causes 59.5 % change in sales performance. This result proves that a unit change in the efficacy of exclu -electro aggressive distribution strategy in will induce 59.5% change in the company’s sales. The significance level of this outcome in reference to the study results was 0.000 which is less than the standard value of 0.05 indicating that the variance between the two variables in question was significant. Selec-electro aggressive distribution strategy has a positive significant impact on sales performance thus ( =.532, p< 0.01). It can be said therefore that any improvement made in selec-electro aggressive distribution strategy, will cause sales performance of FMCG companies to increase by 53.2 %.

Project MI-Net

2011 ◽  
pp. 70-87
Author(s):  
Pankaj Bagri ◽  
L. S. Murty ◽  
T. R. Madanmohan ◽  
Rajendra K. Bandi
Keyword(s):  
Consumer Goods ◽  
Fast Moving ◽  
Comprehensive Analysis ◽  
It Infrastructure ◽  
Cost Benefits ◽  
Related Data ◽  
Fast Moving Consumer Goods ◽  
Time Basis ◽  
Implementation Stage

This case gives a detailed description of the adoption of an e-business initiative by Miracle Industries Limited (MIL), a fast-moving consumer goods (FMCG) organization in India. The initiative involved linking up with key distributors so as to get important sales-related data on a real-time basis. The case describes how the decision to adopt the project was taken after a comprehensive analysis involving a detailed cost-benefits study, and an examination of the roles of various stakeholders — the distributors and the Territory Sales Officers. It also illustrates how the organization proactively managed the changes introduced by the adoption by communicating extensively about the benefits of the project to the stakeholders, and by providing training and incentives to them. The role of the existing IT infrastructure and unambiguous support from the top management in enabling a smooth rollout is also discussed. Finally, the dissatisfaction of some distributors in the post-implementation stage has been captured.

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