In a generally stagnant market, emerging consumer trends were opening up opportunities. The CEO, together with the management team, wanted to clarify how to take advantage of these trends. A category growth plan enabled reaching double-digit growth in key market segments.
The consumer goods world is constantly being shaped by trends such as an increased focus on health and wellness, sustainability and ethical considerations. These trends provided an opportunity for the company, a large consumer goods manufacturer, to grow in new directions or even reposition itself in the minds of consumers. However, the CEO, together with the management team, lacked a clear view of how to make it happen.
In deep collaboration with our client, we analyzed what kind of effects the trends would have on the market, and noticed that the company was best positioned to take a forerunner role in its field – even at the expense of cannibalizing part of the company’s existing business. To capitalize on the opportunity, the team outlined the source of competitive advantage for the company, defined which consumer segments to target, set guidelines for product development marketing and communications, and determined what is needed from the raw material sourcing and the production network to keep up with the expected growth.
The project helped the company align its efforts to support growth. The market has grown at double-digit rates, but the company, supported by solid growth platform, has grown twice as fast.