The client is a leading manufacturer and marketer of consumer products with current revenues of approximately $4.6 billion. With 7,600 employees worldwide, the company manufactures products in 25 countries and markets them in more than 100 countries.
The client wanted to develop a strategic plan for growth which would leverage the company’s brands and channel capabilities. Kannon Consulting partnered with a client team to identify growth opportunities, particularly in areas not directly related to the client’s current businesses, as well as in those areas related to the current businesses but where the client had no significant presence in its Strategic Business Unit (SBU) scope.
Kannon’s work approach was highly iterative, with several key phases dedicated to identifying and evaluating growth concepts. Kannon utilized its Outside-In strategy to identify an initial broad list of potential opportunities. Consumer demographic, expenditure and societal/lifestyle trends and surveys were reviewed; channel trends and requirements for success were assessed; and new channels and potential sources for revenue growth, such as business-to-business and the Internet, were identified. Additionally, in-depth interviews with key industry R&D scientists and professionals within the client’s own business units were conducted for counsel on leverageable strengths and prospects.
This wide-ranging list of prospects was then evaluated based on a series of criteria and narrowed to a more concise list of probable areas of growth.
Further careful, comprehensive research was conducted to identify several high-priority areas as worth closer analysis and business case development. Kannon built frameworks to assess market opportunities and determine the strategic fit of each high-priority category to ensure it was poised to capitalize on industry growth.
Alternative strategies outside the immediate scope of the growth initiative, such as non-consumer/industrial channels, services-related fields, technology licensing approaches and longer-term development projects, were also identified as prime candidates for re-evaluation and review.
By acting on Kannon’s study findings, the client was able to recognize and focus on major opportunities that strengthened and extended its core competencies.