On November 9, 2024, students of the “Marketing” course had the privilege of meeting Ivan Nikolaev Petrov, a seasoned expert in marketing strategies and an alumnus of the Faculty of Economics and Business Administration. Petrov delivered an insightful lecture titled “Promotions in FMCG and Pharmaceuticals”, shedding light on the challenges and opportunities faced by companies in these dynamic sectors.

Petrov began his lecture with an analysis of contemporary trends in trade promotions. Despite the rapid growth of digital channels, he emphasized that trade promotions remain a key tool for boosting sales. Citing data from leading studies, Petrov noted that trade promotions account for the largest share of marketing budgets, surpassing both traditional and digital advertising. However, their effectiveness is declining, with studies indicating that 60% of promotions in developed markets fail to generate profit.

Focusing on consumer behavior, Petrov highlighted the critical importance of swift influence on purchasing decisions. He revealed that the average decision-making time for a purchase is just seven seconds, necessitating creative and effective strategies to capture consumer attention. Petrov also outlined the main types of promotions—gift packs, multipacks, and bonus volume offers—that are particularly popular in the FMCG sector.

The lecture also addressed shifts in consumer attitudes driven by inflation and the COVID-19 pandemic. Petrov noted that 49% of consumers reported reducing their spending due to rising prices, and online shopping continues to dominate, even as traditional retail channels recover.
A standout moment in the lecture was Petrov’s presentation on econometric modeling as a tool for optimizing marketing campaigns. He explained that this approach enables companies to measure the effectiveness of their promotions and adjust their strategies based on actual outcomes. Petrov stressed that long-term success in promotional activities requires a balanced approach that integrates both traditional and innovative methods.

The lecture concluded with inspiring advice and practical guidance for students’ future careers in marketing. Petrov quoted John Wanamaker, saying, “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half”. He encouraged students to analyze and seek efficiency in every investment. With his engaging presentation, Ivan Nikolaev Petrov not only shared valuable insights but also motivated the young audience to pursue creative solutions and sustainable results in their professional journeys.