Portfolio extension to drive incremental growth
New products and services are the very essence of business. But we live in a world where over 80 per cent of new products fail. At TNS, we know how to overcome the considerable barriers that innovation faces, and map out a truly successful strategy for portfolio development.
Our individual-based approach is different to traditional, aggregate modelling. We identify the real market impact of an idea from the outset, including its effect on the current portfolio. Our tools will allow you to focus innovation around the highest-potential concepts from the outset, deliver precise briefs for product development and create powerful launch strategies for genuine, incremental revenue growth.
Our precision approach has helped clients to:
The brand leader in the imported beer market was not participating in the growing segment of lighter, more drinkable beers. The client wanted to explore opportunities in this sector to fuel their stalling sales and profits.
With Matrix’s systematic and comprehensive approach to unearthing and directing precise opportunities for innovation we evaluated the beverage landscape of over 50 different beers. We explored consumer needs on a recent occasion in great detail. Broader attitudes to the category and beyond to understand tensions and un-met needs in the market and uncover key target opportunities.
We identified a major gap in the largest need state for beer that satisfied the need for badge value, product quality and a lighter, but satisfying, drink-ability. Our growth plan convinced management that the risks were acceptable, and that implementation would drive incremental growth and enhance the core brand equity. The client developed a franchise expansion strategy to appeal to underdeveloped customers. They tailored the entire business plan to target the need-state we identified; positioning, brand identity, value proposition, on-and-off premise channel strategy and tactics and spending mix.
Precise plans for growth
The resulting product was launched and delivered well ahead of targets. In the first year the new brand exceeded sales goals by more than 50 percent.
Just Juice’s brand share and value had eroded over time as the cold drinks market evolved. The client knew innovation was essential to survive, but recognised that simply developing new flavours and formats would not be sufficient. Growth potential could be seen in fizzy drinks, but the client didn’t know whether this was right for Just Juice.
Using NeedScope qualitatively, we explored the dynamics of the cold drinks market, revealing the functional and emotional drivers of brand choice, unmet needs and opportunities in the market. Future-influential consumers were recruited to help guide the innovation process.
We identified hybrid fruit juice & lemonade as Just Juice’s best innovation opportunity. Pinpointing the Just Juice brand essence and the emotional benefits of bubbles, guided brand positioning, as well as functional elements such as product and pricing.
Plans for growth
Just Juice Bubbles was successfully launched, with every element capturing the essential values of bubbly, lively fun. This became the company’s most successful new brand launch, with sales and profitability targets exceeded and achieving 35 percentage growth for the portfolio. The launch also successfully helped rebuild the core Just Juice brand.
Vlora Basha Berisha
d: +381 38 247 977
d: +381 38 247 977