The term FMCG (Fast Moving Consumer Goods) refers to the consumer products that are consumed in the retail markets with high speed and the stock is always getting replaced with new products. This is the primary category that makes a particular product eligible to be classified as a FMCG product. This property of FMCG products make these products different from the other general products of general home appliances, as the other products take a long clearing time which makes it easier to replace the existing products with newer stock. The FMCG products spend very little time on the shelf and last just a couple of days or weeks on the shelf before being replaced by the newer stock (Gough, 2004).
In the business environment of today, the business industries are becoming extensively competitive and the business organizations are becoming more and more cautious about developing a strategy and then implementing it. Extreme care is required in the project development phases these days, in order to stay relevant in the business industry and to remain loyal to the customers of the product. A new product in the market always faces several layers of struggle with the development of an appropriate strategy which ensures that the people select the new product over the products they are already using. It is important to note that the strategy development for a new product requires detailed research of the market and analysis of many different aspects of the market such as the potential for a new product, understanding the needs of the consumers, analysing the potential market for the product being considered, and knowing what things are important to make sure that the consumers remain loyal to the particular product category or a brand, etc.