The Challenge
One of the largest consumer electronics companies was confronted with an increased spending in marketing communication with no visible impact on sales.
The challenge was to identify what type of marketing communication was effective and driving the business for the brand. The second question was where to invest (more) and where to find optimisations for marketing communication spending.
This project was performed in one of the G5 countries for one of the largest product ranges within the company.
Our solution
Together with the customer team, existing out of marketing, sales and the product leaders, we applied our 10-step process.
We performed a survey among recent buyers and with a focus on a number of major retail chains. Next to the survey, we used the sales data.
By following our process and performing data analysis, we collected deep market insights and developed with the customer team a buying process and segmentation model. A segmentation model that included influence by marketing mix elements, including retail store preference.
Based on the potential of the segments, their product requirements and the attitude towards the customers’ brand; we reviewed and prioritised the marketing mix investment portfolio.
We also identified the main barriers for not selection the customers’ brand. In close co-operation with the customer team and with input from our data analysis team, we developed a strategy and set of tactics to address these barriers.
In addition, we made recommendations to optimise the product portfolio by retail store.
The benefits
A clear strategy and action plan for marketing mix investments and the sales teams by the main retail stores.
Identified drivers and barriers to grow the brand.
The composition of an ideal product portfolio within the retail stores (and on the web).
Collective understanding of the current problems and a mobilised team to implement the defined action plan.
This is just one case out of a broad project portfolio. We are happy to discuss your specific challenges with you and to present the most relevant cases.