Pinpointing opportunities for growth
Matrix takes the guesswork out of the most crucial and difficult stage of the innovation process: the front end. Through Matrix our clients get a complete view of their target market, identifying and sizing incremental growth opportunities and providing a clear roadmap for action.
Unlike generalised, ad-hoc approaches to market understanding, Matrix systematically searches the places where opportunities hide to uncover sources of future growth. For each high priority opportunity, we deliver a granular understanding of the key success factors, and a precise guide for next steps in the development process. Matrix is an equally powerful tool for both product renovation and innovation.
Employing Matrix at the beginning of the innovation process has helped our clients improve success rates up to six and a half times industry norms.
Related case study
- Exploit growth opportunities in new market segments
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.
For more information please contact Chris Holland.