Today’s competitive consumer market place faces a number of challenges. Globalization, consolidation, technological advances and shifts in consumer preferences are all issues with which executives have to deal. There is a constant pressure to improve margins, convert market and customer information into sales, improve efficiency and employ technology to add value and strategic advantage.
As the Bulgarian consumer markets industry develops, companies need to be swift in adapting their strategies in order to be competitive. They should be resilient yet agile, innovative yet cost-conscious, and always focused on customer needs. Therefore, product innovation, cost management, access to multi-distribution channels, streamlining of the entire value chain, as well as vertical and horizontal integration will be essential.