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FMCG: Branding and Re-Branding
When a family-run, B2B FMCG firm in a tier-II city considers options to launch an independent brand and fears losing existing clients, it calls for a significant strategic change.
The category in which the firm sold its products functions in a highly competitive environment. The suppliers have established their brands over years of building and rebuilding. The decision to launch an independent brand called for hurdles on multiple fronts. The stakes were high and the firm needed fresh insights. The client also needed help in streamlining its marketing and branding strategies. The project presented additional opportunities in the form of transformation from a family-run business to a professional one.
Our collaborative efforts for the aforementioned transformation included measures as listed below:
Understanding the client’s vision, requirements, and product offerings;
Analyzing the competitors to understand the brand positioning of the client and the opportunities and threats;
Conducting secondary research and interviews of industry experts to understand the firm’s position with respect to the market;
Understanding the suppliers’ perception and expectations, and incorporating the same into subsequent plans;
Designing the product launch roadmap and executing pilot test for the same;
Evaluating branding initiatives and deciding on appropriate positioning of the firm’s product line;
Need-gap analysis of the skill-set requirement for the firm and the skills availability, requisite transfer of powers, and so on;
Setting in place adequate hiring plan, KPIs and incentive structure, succession planning, et cetera; and
Ensuring compliance with different norms and existing agreements, and taking adequate course correction measures during the execution phase.
After understanding the client’s vision, requirements, and product offering, the initial step was secondary research and interviews of industry experts to understand its position with respect to the market. Post identification of profitable areas, several branding initiatives were evaluated and execution was planned. The firm successfully managed its B2B and B2C clients.