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RE: P&G ( Procter and Gamble ) has to bring Innovation to survive against Unilever
Next to innovation also adaptation is very important for a FMCG company. Does not only counts for P&G and Unilever, see table below of the biggest food brands and their corporates. Choice is an illusion :)
Basically consumers are given with ample of choices - even within a company for the same category due to which cannibalization effect is happening :)