After launching a packaged wheat flour products, a company had experienced a very less repeat demand of the products and challenges to grow distribution network. The company engaged IKON to help it identify the issues hampering the growth and optimize its current marketing strategies to meet business goals.
Approach & Recommendations
We started analyzing client’s current marketing strategy and its performance in the market. A few rounds of interviews with the company’s key officials and distribution channel provided insights about the product features & benefits, past marketing efforts and distributor’s mind-set. Simultaneously, a comprehensive market study was conducted to generate insights about customers, competitors and market trends.
The analysis highlighted a number of issues in current marketing strategy. For example, product packaging was not communicating the actual product and brand elements, and that was making difficult for distributors and retailers sell the products to end users. Further, the market study revealed an important insight about the preferences of consumers: a highly consuming customer segment, for instance, working couples living in urban prefers packaged wheat flour brand that is unadulterated, stone grind and can make puffy and soft rotis. This clarified the further course of action.
With the help of insights, we formulated the 360° marketing strategy, beginning with customer segmentation and brand positioning. Further, the marketing mix was optimized by recommending changes in product packaging, pricing for customers and channels, marketing communication plan and distribution channels with a bunch of actionable milestones. The marketing organization structure was designed for effective execution of recommended strategies. Further, we supported the client in deciding new packaging design and marketing collaterals, state wise launch plan and selecting marketing & sales team.
For less than 12 months of launching a new pack design and implementing marketing strategies, the brand had started gaining recognition and occupied a remarkable space in the market against the big players. A newly designed distribution strategy, pricing structure and promotion plan helped brand gain more shelf space and increase repeat demand in the target geographies.
Note: We are committed to clients' confidentiality. So their names have not been disclosed, but the results are real.