November 8th, 2010
Grant Thornton LLP recently collaborated with Food Processing magazine to study food processing branding trends. Their survey of 114 companies examines where food and beverage manufacturers are distributing their goods, how they differentiate themselves, and which emerging trends are having the biggest impact on their businesses. Here are a few of the study’s key findings:
Balanced marketing strategies. To thrive in a rapidly evolving food landscape, food and beverage manufacturers’ product and branding strategies must be both targeted and flexible – focused enough to differentiate themselves, yet nimble enough to adapt to changing conditions.
Organic and natural labeling. Products labeled with either of these terms have recently enjoyed a huge surge in popularity. And although the labels “organic” and “natural” may be synonymous to some consumers, the industry’s approach to applying these labels is well differentiated. While more than 78% of food and beverage manufacturers label at least some of their products as “natural,” over half (55%) offer no products labeled as “organic.”
Product distribution. Food and beverage manufacturers are distributing their products far and wide, with over 85% making at least some products available nationally. Not surprisingly, large manufacturers (annual revenues > $100 million) are more likely than smaller ones to distribute products internationally (97% vs. 60%).
Private label / store brands. The recent recession, coupled with a significant increase in product quality, has prompted consumers to try private-label products as a cost-saving measure. As a result, many major retail chains (74%) have adopted a private-label strategy.
Products and competition for shelf space. Rampant product proliferation has made determining which products to carry more difficult than ever. Still, food and beverage companies continue to expand their lineups, with 75% of manufacturers increasing their number of SKUs over the past three years.
For a comprehensive review of survey findings, follow this link to Fast Facts on Food Processing.
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August 30th, 2010
It’s like a bad dream.
You’re in an interview, dressed to impress and feeling totally in control of the situation, when the unthinkable happens – the interviewer asks a question that completely stumps you:
“If you could have dinner with anyone from history, whom would it be and why?”
“Why is a manhole cover round?”
“Which fictional character would you say best describes you?”
If just reading these questions makes beads of sweat pop out on your forehead, you’re not alone. In an interview situation, most of us would be stopped in our tracks by off-the-wall questions like these. But that’s the point: interviewers ask odd questions intentionally, to see how well job candidates thinks on their feet and respond to stress.
Because unusual interview questions can be about virutally any topic, they’re nearly impossible to prepare for. Still, here are a few quick tips to help you handle them more effectively:
- Keep your composure. The question was meant to throw you off your game – so don’t let it rattle you. Keep your face neutral and recognize that this is the wacky question you’ve been anticipating.
- Take your time. Smile, take a deep breath and avoid the temptation to blurt out an answer. Don’t panic – if you have to take a moment to gather your thoughts, it merely demonstrates that you think carefully through a situation before responding.
- Relax. When it comes to unusual interview questions, your answer is not as important as how you handle the situation. In fact, most don’t have right or wrong answers. So take the pressure off yourself. You don’t have to be brilliant, you just need to answer honestly.
If you’d like some practice answering off-the-wall questions, consider the following popular ones:
- If you could be any character in fiction, whom would you be?
- If you had only six months left to live, what would you do with the time?
- If someone wrote a biography about you, what do you think the title should be?
- If you were a _________ (insert: car, animal, salad dressing – you get the picture), what kind would you be and why?
- If you won $50 million in the lottery, what would you do with the money?
- How would you rate me as an interviewer?
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