After launching, a packaged wheat flour manufacturer had experienced a very less repeat demand of the product and challenges to grow distribution network. The company engaged IKON to help it identify the issue hampering growth and optimize 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 selling the products to end users. Further, the market study revealed an important insight about the preferences of customers: 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.
After launching a new packaging design, the brand had started gaining easy recognition from the customers. A newly designed distribution strategy, pricing structure and promotion plan helped brand gain more shelf space in target geographies. Within the 1st year of implementation of recommended marketing strategies, brand occupied a remarkable space in the market against big players.