Finding a new market : The Global Brand’s Tale - Furniture

How big is big?

How attractive is this market? What is the real potential and how do we go after it? What’s the best way to enter and compete in it?

What strategy, investment and capability will it take to secure it? How likely are we to succeed? How differentiated is our product offer and our brand? Do we attack fast or build slow?

These questions are relevant for anyone entering any new market or market segment. Fundamentally you are asking ‘will it be worth it?’

There’s even more at stake when that market, is a big and strange one – like China or India – where reliable data is less easy to come by. This client wanted to know what investment it might take to grow from their existing base which had been static for over 5 years.

I created a ‘full potential forecast, business and launch plan’ through deep insight work, customer and competitor research that filled the information gap.

I identified  ‘white space’, scoping and quantifying the opportunity and then ways in which it could be met with new or adapted offers to overcome the static performance they had been experiencing.

Outcome: 

Doubled sales in year 1. Brand relaunch with a slow build, 5-10 year growth plan to take advantage of deep shifts in consumer expectations and needs and new distribution opportunities as they emerged.