SlideShare ist ein Scribd-Unternehmen logo
1 von 28
Downloaden Sie, um offline zu lesen
Ashis Anshuman (15)
Rajas Raut (38)
Mitali Shingne (31)
Gyayak Jain (20)
RDB
PROTEIN BARS
Contents
Introduction to GTM Strategy
o Company Name
o About
o Locations
o Vision Statement
o SWOT Analysis
o Industry Overview
o Buyer Personas
o Competitor Analysis
o Market Forces
o Product Strategy
o Pricing & Promotion Strategy
o Distribution and Communication
Strategy
o Branding & Identity
o Advertising
o Marketing Program (Digital & Traditional)
o Monitoring Progress & Performance
o Budget
o End Note
o Product Portfolio
o Opportunity
o Competitive Advantage
o Product – Problem Fit
o Value Proposition
o Positioning Statement
o Strategic Objectives
1. Business Summary 2. Business Opportunity
3. Target Market 4. Market Strategy - Overview
5. The Game Plan - Roadmap
Introduction to Go – To – Market Strategy
The routes to market that consumer-packaged goods (CPG) companies use to sell and service their
trade accounts determine their sales volume, their ability to deliver the proper levels of customer
service in a cost-effective manner, and their success at securing scarce retail shelf space for their
products. Nevertheless, few CPG companies have a comprehensive conceptual model for optimizing
their routes to market.
Such a model must enable companies to design go-to-market (GTM) models that are characterized
by four qualities: They have a strong customer focus. They are aligned with the company’s strategic
goals and value offerings, and supported by its operational capabilities. They balance customer
needs, revenue growth, and cost-to-serve. And finally, they are flexible enough to be adapted in
response to changing strategic goals and competitive threats.
In an intensely competitive consumer goods sector,
optimized go-to-market (GTM) models — the designs for
the routes to market that companies use to sell and deliver
their products and to service their trade accounts — are
essential. They enable profitable growth, service
excellence, and consumer engagement at the point of
sale. But the more diverse a company’s customer base
and product portfolio, and the more competitive its
markets, the more challenging it is to design effective and
efficient GTM models.
The four pillars of a powerful GTM model
To gain those benefits, an effective GTM model must be built on four pillars. The pillars represent the
qualities of effective, efficient routes to market, as well as the design principles by which GTM models
are constructed. We describe them as market-driven, coherent, balanced, and flexible.
Market-driven:
Too many companies design GTM models in an inside out manner. That is, their design efforts are
so focused on internal considerations, such as ease of implementation, existing sales and delivery
processes, and cost-to-serve, that the needs and desires of trade customers and consumers receive
short shrift. The most effective and efficient GTM models are designed from the market back, ensuring
that they are properly aligned with customer and consumer needs. Toward this end, the structure of
a GTM model should have a foundation of quantitative and qualitative characteristics of customer
segments, including growth potential, the stated and unstated needs of customers in a segment,
geographic footprint and location, sales volume, and profitability. This process has a secondary
benefit: It forces GTM model designers to properly identify and define their companies’ customer
segments.
Coherent:
In addition to external alignment with customers, effective GTM models must be properly aligned and
integrated with the company’s overall customer service framework. It is often helpful to visualize this
framework as a pyramid in which decision and design parameters flow down from the top, and support
flows up from the bottom (see Exhibit 1, next page). From the peak of the pyramid, strategic goals
flow downward, giving shape to customer value offerings. Value offerings, in turn, cascade downward,
suggesting specific GTM models, which can then be designed to support delivery of a specific value
proposition for each customer segment. And finally, GTM models help define the company’s operating
models, dictating elements required to enable and support the GTM models. The resulting coherence
within the customer service framework ensures that GTM models support the achievement of
corporate goals, as well as receive the support they need to operate successfully.
Balanced:
An effective model must enable identification and balancing of competing priorities in the design and
operation of GTM models. There are three sets of priorities that must be considered: customer needs
and preferences, which determine satisfaction and affect growth
potential; revenue growth, which determines market share and volume; and total cost-to-serve, which
determines the economic feasibility and profitability of serving both individual customers and customer
segments. In analysing their GTM alternatives, managers must be able to balance the consequences
of design alternatives and decisions on all three priorities, determine the proper trade-offs among the
priorities, and build an optimal GTM model accordingly.
Comprehensive Product and Service Framework
Flexible:
Finally, because CPG companies must manage an increasingly diverse customer base with
differentiated GTM models, a high-quality design model must include a method for understanding
GTM routes in functional terms, a full palette of design alternatives for constructing them, and a
method for determining which alternatives are best suited to individual customers and customer
segments. Managers need flexibility in terms of GTM model design, and once a design is chosen and
implemented, they also need a means of improving it or adapting existing models as conditions
change.
Typically, a CPG company’s routes to market encompass three major activity types:
• Growing activities are the work of establishing and expanding customer accounts.
• Sustaining activities are the work of servicing and maintaining customer accounts.
• Value-adding activities are the work of brand building and enhancing the customer experience
at the point of sale.
The degree to which each of these activity types is needed will vary widely by customer segment. For
example, in customer segments with low levels of penetration, growing activities would be
emphasized in order to win new accounts. In segments where a company has a robust customer
base, sustaining activities would be emphasized in order to maintain high levels of customer
satisfaction and retention. In segments where consumer market share is low, value-adding activities
would be emphasized in order to enhance the point-of-sale experience and build share.
A holistic view of routes to market
Chapter 1 : Business Summary
Company Name : Rajaram Daduram Bassaiye
Sector : Traditional snacks retailer
Vision : Serve fresh and Best
Location : Aurangabad, Maharashtra
Rajaram Daduram Bassaiye is a 40 year old business located in the heart of the city of Aurangabad.
This business was initially set up to sell oil as a part of tradition of the ‘Teli Samaj’. Eventually the
business expanded and a retail outlet for selling traditional Indian snacks was established. These
snacks included of peanuts, roasted chikpea (futane), daliya, peanut and rajgira chikki, puffed rice
(bhadang murmura) and many more.
This was one of it’s kind shop and the niche product category made it a one-stop-shop for the snacking
options. Serving fresh and good quality products was always the thought behind the business along
with a humility of willingness to serve (seva). The products and brand gained popularity in the small
town and the location of the outlet was a huge advantage in the success of the business. This retail
outlet is located in the older part of Aurangabad called Gulmandi, which happens to be a hub of all
traditional retail shops across different categories. Thus Bassaiye became a mandatory stop in all the
monthly purchases.
Today the market has evolved with emerging modern retail in the city, but the popularity and quality
of products offered by Bassaiye has increased parallelly. The brand personality reflects trust and
belief which has given them the power to charge premium.
SWOT Analysis
Strengths Weaknesses Opportunities Threats
o Good quality of
product
o Old and trusted
brand
o High customer
loyalty and brand
recall
o Outlet very small
and inconvenient
o No branches
o No digital
presence
o Healthier
snacking options
o Established
market in similar
category
Chapter 2 : Business Opportunity
Rajaram Daduram Bassaiye today serves the entire population of Aurangabad and has introduced
various other products in the market as well. The chikki bars from their outlet are a must buy for every
mother that comes in the city market for everyday purchase. These chikkis are available in different
variants like traditional peanut jaggery chikki, roasted peanut chikki, sesame and jaggery chikki,
rajgira chikki etc. They also have a premium segment to these nutrition bars which includes variants
of all dry fruits with jaggery. All these variants have a strong position as a healthy and nutritious snack
in the minds of the customer. Given the trust the brand has built over all these years, customers don’t
mind paying more for the products from Bassiye.
Product Portfolio
Given the popularity in Aurangabad market, Bassaiye now want to expand their market by establishing
distribution in retail markets of other neighboring cities. Since 2016, they have expanded the
Aurangabad market by making their products available in stores like D-mart and Reliance mart and
some other local famous mom and pop stores.
Establishing competitive advantage
To ensure you have an advantage in your new market, first create a competitor profile and gather as
much data as you can. For example:
• Recorded data — Obtained externally in the form of published sources such as competitors’
brochures, promotions, news articles, and annual reports.
• Witness or observed data — Such as what you see when you go to a trade show and visit
a competitor’s booth, or the conversations you uncover through social media that customers
are having about the competition.
• Ability to gather plan data — Or efforts to set up opportunities to learn more about the
competition. For example, by conducting interviews and having discussions coordinated with
different partners, suppliers, or people who have relevant knowledge of the competition such
as former employees.
Product-problem fit
“If I had asked people what they wanted,
they would have said faster horses”
— Henry Ford
A critical piece of any go-to-market plan is defining the customers’ problems and validating the offering
that addresses them.
Take the following steps:
• Define the pain — In a limited market like Aurangabad, there is the market for chikki bars and
since there is trend and disposable income, people would buy it. But customers do not think
in terms of solutions rather they somehow use whatever is available in the market when a
need arises/ at the time of purchase. They only know what their pains are but they may not go
on searching for the best products due to limited availability.
You have to think outside of the box and pick up on the silent calls for help to solve a
customer’s problem.
• The urgency of the pain — The urgency comes as a threat from competitors both national
and local players. And there is first mover’s advantage. Customer would not hesitate for long
to switch to a competitor brand that is available in the local market and even an established
company lose here subjecting to product unavailability.
• The size of the pain — It requires accurate market data and analysis. Comparing similar
markets and competitor landscape in that particular market would reveal or give a proxy of the
size.
• Willingness to pay — You want to be sure customers will pay for the product. In other words,
if you can answer positively to the urgency and market size questions, then you can move
forward knowing people will be willing to make a purchase.
RDB has identified that pain point and saw the market. The growth in the protein bar segment
is exponential across India and RDB has the reputation for making quality chikki.
Chapter 3 : Target Market
India nutritional bars market stood at $ 9.4 million in 2018 and is projected to grow at a CAGR of
over 30%, to reach $ 46.2 million by 2024. Growth in the market can be attributed to increasing
incidences of lifestyle diseases such as diabetes, obesity, blood pressure, asthma, and other heart
diseases and rising consciousness among consumers towards healthy eating habits. Moreover,
other factors such as rising disposable income coupled with growing number of domestic and
international market players are further anticipated to fuel growth in India nutritional bars
market during forecast period.
India nutritional bars market is controlled by these major players, namely– General Mills India
Private Limited, Naturell (India) Pvt. Ltd., Sun Hygiene Foods Pvt. Ltd, Sprout Life Foods Private Ltd,
among others.
The current distribution system is established to cater the needs of the city of Aurangabad and there
is huge potential for the chikki product in neighboring cities of Jalna, Ahmednagar, Nasik and Jalgaon.
Buyer Personas
The target market is specific due to the niche product offering. Buyer personas give a brief idea about
the segmentation.
I. Atharva Mehta 23
▪ Nasik
▪ M Tech student in K.K Wagh college Nasik
▪ Lives in hostel
▪ Gym Freak
▪ Prefers Nutritious food
II. Mansi Pawar ,17
▪ Jalgaon
▪ M.J. College Std 12th
student
▪ Diet conscious and follow fitness content
creators on social media
III. Swati Pai, 41
▪ Ahmednagar
▪ Married, 2 Children
▪ Husband has a high paying job in Bank
▪ Does Grocery shopping from nearby super
shoppy or D-Mart
▪ Prefers nutritive snacks over wafers and
biscuits
IV. Dhruv Kulkarni ,32
▪ Jalna
▪ Works as Area Sales Manager for Cipla
▪ Bachelor, lives away from home
▪ High Disposable income
▪ On field time spent 7-8 hours
▪ Foodie
Once desired market segments are identified, you can probe into which segments you would want to
target first and what approach you would take. There are three ways to determine how you would
target and communicate to a segment:
• Priority — Focus on the audience segment whose behaviour will be the easiest to change if
you’re looking for quicker impact. Follow the technology adoption curve philosophy.
• Ease of reach — Consider the target segment that is the easiest to reach in the shortest
amount of time, taking into account your resources.
• Level of business impact — The size of the audience segment
COMPETITOR ANALYSIS
RDB THE WHOLE TRUTH BARS NUTRITIUS
SUMMARY
The well-established
brand in Aurangabad
market now wishes to
enter bigger retail.
The Whole Truth, is a Health-Food
9-month-old start-up.
It is a common notion that healthy
food isn’t tasty but The Whole
Truth Foods is here to change that
perception.
Over the course of their journey
they have launched variety of
chikkis right from conventional
flavors to healthy options. Strong
presence on Ecommerce
Platforms.
TARGET
CUSTOMERS
Teenagers, Millennials &
Health Conscious
Individuals
Teenagers, Millennials & Health
Conscious Individuals
Teenagers & Millennials
PRODUCT
OR SERVICE
PRICING
Penetrative Premium Average
GENERAL
MARKETING
STRATEGY
ONLINE
MARKETING
STRATEGY
Absent Own Website
Ecommerce Platforms & Local
Vendor Websites
STRENGTHS
Strong Local Presence,
Brand Loyalty, Quality
Assurance
Organic Products, No
Preservatives, No Flavors & No
Additives
Strong presence on Ecommerce
Platforms and variety of offerings
WEAKNESSES
Packaging & No Online
Presence
Expensive & Lack Of Online
Presence on Ecommerce
Platforms
Packaging Sizes & Lack Of
Nutritious Offerings
COMPETITIVE
ADVANTAGE
Penetrative Pricing
paired with Nutritious
offerings
Preservative free healthy food
Strong Presence on Ecommerce
Platforms
Some questions to be asked to gauge potential customer interest level:
• Do customers have a need for the product because it solves a particular problem?
• What would customers be willing to pay for the product?
• What are the current purchasing trends with the targeted customer? Are they growing,
decreasing or stagnating?
• Why would customers purchase this particular product over a competitor’s?
• Does competition have a favourable reputation with the target customer and what’s their
current performance?
The closer you can get to the customer and gather direct feedback, the more likely it is that your new
product finds success.
Porter’s Five Forces
Competitive Rivalry
• Established Brands but limited
players
• The industry is growing
rapidly
• The exit barriers are low
Supplier Power
• High Bargaining power of
Suppliers
• High Switch Cost
Threat Of Substitutes
• High threat of substitutes
• Established Brands
• Growing number of Healthy
Food Entities
Buyer Power
• Low Buyer Power
• Low Brand Identity in New
Markets
• Nutritious Snack Offering
New Market Entrants
• Low Entry & Exit Barriers
• Local Players can hamper the
Sales
• Moderate Brand Loyalty
• Low Switching Costs
Chapter 4 : Market Strategy - Overview
New products are born every day. New products also fail every day, thanks to recurring problems like
“‘the market just wasn’t ready,” “pricing was too high,” “demand forecasts were way off,” or “the
product really didn’t solve the right problem.” A go-to-market plan can help avoid these problems if it
includes certain elements of research and action.
• New market research — To probe buyer’s interest in RDB products, or otherwise to perform
customer development.
• Market trend research — Such as whether the company is entering into a stable or growing
market and how saturated the market is (the protein chikki bar market).
• Coordinated product development — Get intimate with the product by bringing product
managers/developers into the research and market testing phases.
• Target customer personas — Put together a specific profile of your early adopters,
uncovering the reasons they would buy the product and, more importantly, why they would
choose it over a competitor’s offering (Since RDB is 40-year-old company and trust, it
becomes easier).
When launching a new product, entering a new market, or doing both, a go-to-market plan will be
crucial to product and marketing success.
While a company’s marketing plan is a broad document that aligns marketing initiatives to the
company’s high-level business goals and objectives, a go-to-market plan is more niche, focused, and
developed for a specific product or market.
A marketing plan includes the annual roadmap that outlines the company’s ongoing marketing
strategy for products or services currently on the market. It includes advertising, promotions, public
relations, digital marketing, direct sales, and events. A marketing plan documents the goals,
objectives, research, costs, strategies, and action needed to drive business for the overall company.
The go-to-market plan entails the action needed to move a product or a company in a new direction
by focusing on internal resources — such as salesforce — and external resources — such as
distribution channels. A go-to-market plan fleshes out the value proposition, builds a unique
experience for customers, and finds ways to be competitive in the market.
The benefits of a go-to-market plan include:
• Reduces the time it takes to get to the market.
• Lowers risk and the cost that may be associated with failed launches.
• Delivers the best experience for the customer.
Invests on the right path with better direction for internal sources and external partners.
Some goals of a go-to-market plan RDB may include:
• Product brand awareness — high awareness or being easily recognized, helps drive
potential prospects and sales. For this, the plan needs to determine what channels will drive
engagement and how much traffic from these sources will send a projected number of
prospects over.
• Marketing to leads — leads, are qualified people who will be interested in the product. A go-
to-market plan needs to outline ways to market to potential customers to ensure there is a
customer base the product is launched.
• Sales targets — This is the portion of the qualified potential prospects who will actually
convert to a paying customer. Targets can be set for stores, distributors, salespersons, and
markets as well.
• Product adoption — Otherwise known as user scale. High adoption rates will mean higher
expected sales and economic returns.
• Customer satisfaction — Otherwise known as defect levels. The goal would be to decrease
the number of defects and dissatisfaction at launch and moving post launch.
Value proposition
• High-quality snack packed with flavour, protein, and fibre that only contains 6 Ingredients
• Staying Hungry due to short break timings? Not Anymore! RDB Protein Chikki Bars keep you
fuelled up and ready to go
Positioning statement
• To all the people who skip meals due to lack of time , RDB bar is the reliable all-in-one protein
rich chikki bar brand that brings flavour and nutrition to keep you going. Snack your way to a
healthy life
• RDB Bars offer the most nutritious, delicious, organic alternative in a market crowded with
products that are packed with empty calories, fillers, chemical additives, and preservatives.
RDB Bars is a family-owned company that cares about customers, the environment, and the
communities from which they source their ingredients
Strategic objectives
• Start a new product line of Protein bars along with conventional Chikki
• Expanding the business by supplying to local retail mom and pop stores, Dmart, Super shoppe
etc. of conventional Chikki items and Protein bars.
• Promoting the Protein bars in Aurangabad as a healthy and nutritional supplement at Gyms
and Fitness parlours.
• Creating Digital presence by creating a website and on social media
• Listing on platforms like Amazon pantry, Grofers and doing paid promotion on these online
retail channels.
• Establishing Distribution channel in nearby districts like Jalgaon, Jalna, Ahmednagar, Nasik
• Listing on platforms like India mart and aim towards establishing state level distribution system
and attract Distributors.
Chapter 5 : The Game Plan - Roadmap
When launching a new product, entering a new market, or doing both, a go-to-market plan will be
crucial to product and marketing success. While a company’s marketing plan is a broad document
that aligns marketing initiatives to the company’s high-level business goals and objectives, a go-to-
market plan is more niche, focused, and developed for a specific product or market. A complete go-
to-market plan will be composed of five layers:
• Product strategy — To differentiate the new offering from those of competitors, helping build
sales messaging.
• Promotion strategy — Pricing promotions and cross-promotions at launch.
• Channel strategy — Channels utilized not only to sell products but also to educate and
support partners and customers.
• Marketing strategy — Entailing efforts to generate awareness with customers and
employees who interact with customers for instruction, purchase, and or support.
• Customer experience strategy — Detailing the customer journey from initial awareness to
activation, renewal, (re)purchase, cancellation, and referral.
• Budgeting — To get an overview of the expenses we are going to incur and then compare it
with the final/actual budget.
The product strategy
Form a product strategy prior to launch
The product strategy will need to capture the product’s reason for existence, reaffirming how it will
solve a problem for the long haul, and the company’s motivation behind its launch. In order to develop
the product strategy, the product development team need to collaborate cross-functionally across the
department to develop the product roadmap.
RDB has successfully established the brand and built trust over the 40 years. The Original
Aurangabad Chikki has huge demand
and the company has the capacity to
produce in large amount. Also, they are
3rd
party manufacturers to some of the
established national brands and start-
ups. The health and quick snack segment
have grown rapidly and in the last
decade, there has been more than 100
such start-ups catering to this specific
segment.
The product market matrix bifurcates the
product offerings for different market
categories. It is evident that different GTM strategies are needed for each different case.
In any tier-1 cities, the competition usually comes from local players but once market potential and
consumer trend become apparent the same Aurangabad market could be a battle ground for each
player to capture the market share. CPG is an industry where product innovation drives revenue and
market share. So, offering same product to the same market (Tradition Chikki bar in Aurangabad)
may not be a good idea. If you see, except for market penetration, every other quadrant needs GTM
strategy.
Numerous cases of start-ups capturing
majority of the market shares are on the
internet. Some of the successful examples
are Snackible, YogaBar, Quest Bar etc. are
leading the segment.
RDB has also done that for traditional Gur-
Chikki by combining it with fruits and nuts.
Initially there are a few varieties of the new
product and they are being introduced
along with the traditional chikkis,
khurmuras etc.
For RDB, processes were less stressful as
they are established player in the market with strong customer base.
Consider these pointers when developing the product strategy:
Expand the product vision — Capturing the changing landscape and customer needs over time. A
limited vision will limit the product’s life.
Collaborate cross-functionally — A product strategy needs input from marketing, the brand team,
sales, product managers, customer service, and support. Key stakeholder involvement will make
getting the buy-in for the product’s success easier in the long run.
Inspire — In addition to sales goals the product vision and strategy need to inspire people towards a
greater cause.
Have an elevator pitch — Any business concept that needs to be explained in a long paragraph will
probably fail. This makes it easier to communicate the concept with customers and internal
stakeholders.
Crafting the product message
Product messaging can make or break a product by allowing the target customers to get to know and
truly understand the product offering. Additionally, product messaging is an opportunity to stand out
from the competition — if the message is well-positioned.
Some tips to consider when building a successful product message:
Communicate value — Choose value over features, because customers are only interested in the
benefits and values that will be derived from using the product.
Know your audience — Build your buyer personas using the market segmentation data you have
gathered to build a clear picture of who you are targeting. The buyer persona is a semi-fictional
representation of your potential customer.
Be specific about your value offering — By talking to prospective customers about their problems
and matching your wording to their voice.
Collaborate cross-functionally with entire teams on the messaging — Don’t create messaging
in a vacuum. Make sure you speak with members from other teams beyond your own department
such as sales, or R and D.
Use great writing — Poor, confusing, long-winded, or unfocused messaging won’t entice customers,
it will only drive them away. Keep messages crisp, concise, and supported with imagery.
Understand your competitor’s positioning strategy — Such as their pricing, distribution, and
messaging tactics. This will help you differentiate yourself in the market.
The pricing and promotion strategy
Setting your product price at launch
With detailed information on buyers and the marketplace, the pricing strategy is a direct reflection of
the information you’ve gathered. Some pricing strategies to consider:
Premium strategy, many products are priced higher than their competition, for perceived value. If
so, then be sure your packaging, marketing efforts, and content created to support a high-end product
positioning. e.g. Apple’s iPhone.
Initial low pricing for market penetration — If the goal is to enter the market to grab attention and
bite off market share. Despite the challenge of making less money in the short-run, the increase in
awareness could result in greater profits in the long run and over time, you can price higher to reflect
new positioning in the market. This has been the strategy of many Chinese brands such as Xiaomi.
Constant low pricing — Used by companies with large sales volumes, such as the DMart’s of the
world, who can keep their cost and marketing expenses down to create lower-priced products on a
constant basis.
Price skimming — Meaning, charging the highest initial price at launch and then eventually lowering
the cost to attract other potential buyers. This is exactly following along the technology adoption curve
footprints of user adoption. This can yield high returns for new products, creating a new market trend.
Psychological pricing — Creating an emotional purchase decision with the customer, such as an
impulse action when a customer sees that rs 195 sign, rather than rs 200.
Bundled pricing — A technique used to group products together at a lower price. For example,
McDonald’s combined a burger, drink, and fries in a Happy Meal — at a lower cost than bought
separately. When products are bundled, consumers feel they’re getting more value for the bundled
price.
The feedback loop
A crucial part of a go-to-market plan is preparing a feedback loop to gauge how customers feel about
the new product. There are different ways to capture customer requests, either directly or via other
support systems that capture the information.
Customer surveys and one on one interviews — Use surveys and conduct interviews quickly after
your product launch to capture fresh thoughts and ideas from customers.
Sales feedback — Through the sales team’s follow up and fielding inquiries.
Customer service or support — This front-line team will hear everything from the slightly unhappy
individual to the angry ranter.
Forum feedback — This is the opportunity to set up a feedback loop where customers can share
their experiences with others, relying on the community as a helpful resource. This is where customer
service and support teams should also actively participate.
Employee feedback — Gathering feedback from employee users is a great way to hear straight from
internal champions.
Social media feedback — These are unfiltered feedback in massive amounts. The trick is to
understand how to capture the right data to analyze. If the response rate is high, you might want to
subscribe to a media analyzer tool.
Promotions at launch
Every new product launch needs to consider promotions and the ways they can capture the buyers
with an introductory offer they can’t resist.
• Sampling the product — The idea is that once you get the consumer to try the product,
they’re hooked.
• Coupon offer — Not just a 10% discount but a solution that helps solve their problems.
• Promotional offer — Bundled into a package of products that they already know and like, a
promotional offer is a great way to lessen the risk by coupling with products that are tested
and proved.
The distribution and communication Strategy
The channel strategy sets you up to educate and sell your product in places where your customers
want to purchase products from you and the first step is to find the right channels for the new product.
Choosing the primary channels
The first step is finding the right channels for the new product. Take note that currently available
channels may not be right for the new product. The right channels need to target the right customers
and create a seamless experience. As a part of the go-to-market plan, you want to map out the best
channels for the product at hand.
The Indian distribution system is one of the unique formats in the world and there are layers of
distribution channels catering to different stores.
Forming a channel strategy requires you to ask and answer a number of questions:
• Where do the target customers make purchases?
• Does the product fit the channel?
• What level of interaction is needed for customers to make the purchase decision?
• Would customers purchase through a partner?
• Where can you can create an advantage over competition?
Aurangabad has more than 40000 retail outlets including MT, GT, and other wholesalers. For this
particular market, there are distributors and sub-distributors catering to thousands of the smaller retail
outlets & out of those retailers the percentage of MT retail outlets are very small compared to GT.
Since RDB already has a strong distribution network, the key here is to expand the network and
increase product availability in the new and smaller retail outlets.
For modern trade (MT) stores we have outlined different activation strategies and both parties, the
store owner and the brand need activation planning. For general trade (GT) distributors and their
network would ensure the product visibility. The only thing here is to provide them with good trade
promotions and the return would be many times more than the investment.
Managing for channel performance
The channel strategy within the go-to-market plan includes the partners who are best suited to help
drive channel performance. Relationships with these key partners aren’t just based on sales pipeline
performance or the time it takes to make a sale — they’re based on trust, mutual understanding, and
working together to achieve a shared goal.
0 Level
1 Level
2 Level
As well as a framework for forming successful partnerships and business ecosystems, here are some
softer tips to help drive channel performance with partners — who can feel like an extension of your
companies’ sales organization rather than just outsiders working for you:
• Identify potential obstacles with partners — When you select a partner it’s because their
business is well suited to sell your products or services. The go-to-market plan should detail
the pros and the cons of your collaboration, and review the potential obstacles in the channel
partners may face when working with prospects and customers. An open dialog will help sides
align even further.
• Incentivize channel partners — Aligning specific incentives directly to different phases of
the customer journey, makes it easier for partners to get involved at these stages and
becoming part of the buying process. Some tactics include performance-based campaigns,
big deal discounts, and rebates.
• Treat channel partners as true partners rather than employees. Channel partners don’t
work for you and when treated as partners, as equals, and not as subordinates, they will be
more cooperative. Increased cooperation = greater channel performance = more sales ($$$).
• Set and share realistic key performance indicators (KPI) with partners. KPIs will be the
key metrics used to prove how you and your partners succeed together.
• Celebrate any wins with partners. Take the time to recognize, celebrate and reward
partners. Win their loyalty in the long run, because the market will certainly become more
competitive in the coming years and you want their inventory share.
• Know when to change your partners and transition to new ones. Based on the agreed
KPIs, evaluate partners and change partners, if their performance is under the industry
average. Consider the legal steps, think about a partner exit strategy, and how you would
cease working together. Additionally, preserve any of the relationships your partners may have
with other areas of your organization.
Interacting with customers
Customers rely on you to help them navigate channels and to educate and support them throughout
their purchasing journey. Here are several ways that you can educate and support your customers.
• Create a customer-focused culture — It’s not just saying you’re customer-focused, it’s
showing your customers are your priority. Answer questions and concerns quickly, handle
negative product experiences with an empathetic ear, and delight them with your attentive
nature.
• Be positive and kind at all times throughout your channels — Employ people who have
a high emotional quotient — the ability to recognize emotions and incorporate other’s feelings
into their thinking and behavior. This is an extension of the customer-focused culture which
translates into channel etiquette in creating positive and polite experiences.
• Support your customers through open communication — Bake it as easy as possible for
customers to contact you through any of your channels. Let customers decide how they want
to receive help and the ways in which they interact with you. It’s much better to have an open
line of communication and to respond quickly to customer concerns.
• Reward customers — Offer additional ways for customers to receive perks and specials just
for being a customer, such as loyalty programs at MT outlets, discounts, first notice of new
products, etc.
Tell stories Digitally
The go-to-market plan needs to map out communication at launch and beyond to keep audiences
interested and engaged.
Storytelling at launch:
• Release an official product announcement, through a news-wire service that is social
media and blogger friendly, ultimately getting your announcement to the hands of your
customer.
• Set up a specific landing page for your campaign. Digital and social media models will
share your story and your launch promotions. By using your social media channels, and
meaningful content with proper hashtags to support your launch, you’ll drive customers to the
landing page. When they arrive, you can answer questions and encourage them to spread
your message.
• Create excitement about your launch. If you’re holding an event in conjunction with the
launch, encourage people to attend and take photos and videos and share through social
media. Create opportunities for behind-the-scenes live streaming video to show how your
launch event played out for those who couldn’t attend.
Storytelling after launch needs to keep people engaged:
• Continue with media relations and pitching of interesting story angles. Find unique ways
that your product is being used or how it’s making a difference in a customer’s life.
• Use social media to share relevant content that helps customers’ decision-making
process and move beyond the marketing messages. For example, use print journalism to
report on interesting news and information the customers would want to know and share with
their friends and colleagues.
• Build compelling content by invoking your influencers. Keep your brand ambassadors
and customers involved throughout your entire marketing campaign. Brand champions will let
you know what they like to do and how you can involve them, from the contest and promotions
to your Twitter chats, quick polls, and questionnaires. A key to participation is delivering the
appropriate opportunities and being there to engage in the experience with them.
When you can share a compelling product story at launch and beyond, then you’re involving your
buyer for the life of the product — beyond the initial introduction. The stories you tell should help your
buyer and engage them at every phase of the journey with you.
Branding & Identity
Strong branding elements establish brand presence in the market and build brand image. It shows
quality and builds trust. In the long run, no brand can avoid branding elements and bad branding
cannot save a good product.
Since RDB is a family owned traditional business. Though
they have the production and distribution capability, for
most of the part, they have never considered about
building a brand.
For a long-term strategy, it is of utmost importance to build
one that is hammered like a nail in the customer’s mind
and gives an explicit statement about the company’s
legacy.
Suggested Logo Design
“Rajaram Daduram Bassaiye” is a household name in Aurangabad and for most part, that hasn’t
been challenged for decades. But current market is brutal and competition can arise from anywhere,
not from a direct competitor but from an indirect one. Rajaram Daduram Bassaiye earlier had no
logo as such, as their brand identity but for expansion and diversification, having logo is a must to
establish the quality and legacy.
The new logo that we suggest has the traditional appeal of the Rajaram Daduram Bassaiye legacy
and it also has a punch of modern transition depicted by the 3-dimentional illusion.
The simple design makes it scalable for any kind of printing.
The Package Design
Earlier the package was very basic, its just a polyethene wrapper around the product without any
nutritional descriptions. It was not attractive however the chikki quality was good but that may not
nudge a buyer from considering it.
New product require new packet design and we revamped it with a modern look and different colour
variations. Now it has the appeal and the personality keeping the 90-year-old legacy intact.
Before After
Advertising
The Print Ad
The print advertisement outlines the traditional to modern transition and positions the new brand with
a beautiful message asking the consumer to try it for that quick protein treat.
Store Activation
This is specifically for modern trade retail
chains and supermarkets for shelf
activation and self-promotions in the
stores. We can plan a complete action
strategy with the supermarts and large
stores starting from mall premises till the
customer reaching the shelf.
The above print ad and shelf material can
be used as danglers, flyers at general
trade stores.
The message is consistent with the print
ad and the new package design is
displayed at every point of contact.
Outdoor Promotions
We also suggest OOH promotions at
major traffic junctions in Aurangabad
including banners and hoardings
attached to large buildings.
The reason is not many companies
in this segment are doing this at the
moment and the rates are cheaper
as most of the spaces stay empty
throughout the year baring a few of
them at major junctions.
Marketing programs Traditional
A marketing strategy has to be based on the ability of creating messages that matter through the right
channels. The key here is to reach customers and create meaningful interactions.
Initially, our focus should be Below the Line advertising. Below-the-line advertising is an advertising
strategy where products are promoted in media other than mainstream radio, television, billboards,
print, and film formats. The main types of below-the-line advertising systems include direct mail
campaigns, trade shows, catalogs, and targeted search engine marketing. Below-the-line advertising
methods tend to be less expensive and more focused versus above-the-line strategies.
We can do local newspaper advertisement (ATL) which has strong influence on the readers.
Marketing programs Digital & ATL
• Website marketing — We need to have a web presence and first step is to create a website.
Every page of your website needs to have a call to action (CTA). Visitors should feel there’s
always more to do and learn, offer online demos, free trials, icons to social media so they can
follow you there, and sign-ups for a newsletter subscription. Rich, relevant content on your
website should also be available and easy to share with networks.
• Social media marketing campaigns — Social media marketing helps create brand and
product awareness, generate demand, and delight customers with rich, shareable content.
You can create conversations, resulting in likes, shares, and comments, to leads and sales
through your website. Use social media as a part of your marketing program to get your
audience to rally around your product.
• Email marketing — What lands in someone’s email inbox has to be meaningful and from a
trusted source. A strategic email campaign can be highly targeted and cost-effective. This is
how LinkedIn basically scaled. Email marketing can be used to create brand and product
awareness, sales conversions, collect user reviews and feedback, and share vital product
information with special offers.
• Search Engine Optimization and Marketing (SEO / SEM) — Make sure your website, and
all of your content, is search engine optimized. SEO helps your content, including product
news and materials, to be found by people who use search engines. If your content is not in
the first few search pages, consumers simply abandon search results.
• Paid display advertising and promotions through mobile, web, TV, radio, or magazines
— Here, customers can easily be inundated with too many messages and advertising choices.
You need to break the ad media landscape into the most effective places to reach customers.
Monitoring progress and performance
The designed go-to-market strategy needs to be executed phased wise and specific time periods
must be set for each execution (such as- next 90 days plan, 120 days plan etc.) so that there is no
cluttering and the performance measurement would be structured and after each execution,
iterations can be tailored for the subsequent plans.
Key performance indicators
A new product launch plan needs KPIs to be guided towards where it’s going and how it’ll continue in
the right direction. In marketing, we call this compass a key performance indicator or KPI. KPI metrics
help organizations determine the effectiveness of their current business initiatives, helping teams
make more informed decisions. There are hundreds of KPIs and metrics, far too many to track, so
they’ll have to be narrowed down to determine which would be more appropriate for your efforts
without creating data overload.
• KPIs need to be easily translated into information that gives the leadership team a clear
course of strategic action that’s in line with the organization’s business goals.
• Select one or two KPIs per business goal, narrowing numbers down based on available
resources.
• Know the difference between KPIs and metrics you choose to support them. KPIs center
your focus on the things that matter most. KPIs can be called metrics but not every metric is
a KPI. The word key in key performance indicator is the determining factor.
• Select KPIs that are easier to track and make sense for your business. Use digital KPIs
and metrics so they can capture data through their websites and their social media channels.
• Make your KPIs visible to other areas of your company. Have a cross-departmental KPI
dashboard before moving onto your marketing efforts.
• Store KPI data over time, benchmark success and spot trends at different times of the year.
• Test your KPIs using the SMART approach. Specific, measurable, achievable, reliable, and
timely. If they’re not, reassess them.
Continuously evolve performance measurements
In addition to building a performance measurement model using KPIs, the go-to-market tracking
system needs to be flexible enough to understand that marketing efforts are performed in real-time
— meaning you can change course and tweak your programs to accommodate your customers. You
may also be adjusting your measurement based on shifting goals or team and channel performance.
Here are some questions that need to be asked when assessing a performance measurement model.
• Are your company’s business objectives still the same?
• How well are the metrics capturing success?
• What is qualitative information telling you (e.g. via customer feedback)? Do you need to make
adjustments?
• What tools would be more effective to measure the new product launch?
• Did your channels perform as well as you predicted?
• How well are you capturing front line team performance?
By evaluating early and making any necessary changes, you’ll be strengthening the go-to-market
planning and getting set up for better team performance. Be sure to listen closely to your team
members on what would have worked better and how they think you can measure internal team
performance more accurately. Flexibility is what really helps prove success and improve future
launches.
GTM Area Metric Area / KPI Comments
Markets Market Share % (Revenue) Can use revenue or units
Relative Market Share % Can use top 5 competitors
Market Contribution % Market concentration, growth and
trends
Customers Customer Experience Index Can be a combo of retention, churn and
others
Wallet Share % Share of addressable spend
Customer Loyalty % Review customer flow dynamics
Channels Expense / Revenue % (E/R) Expense and revenue of each channel
Channel Mix % Channel concentration, growth and
trends
Channel Performance-to-Plan The channels performance vs. plan
Offerings Offering Performance % Year-over-year performance of each
offering
Profitability % by Offering Is the value message being realized
Revenue % from New Offerings Can use <1 year depending on typical
lifecycles
Value Propositions Win Ratio % Does your proposition allow you to win
more
Competitive Replacement % Are you able to displace the competition
Margin % Trends Gross, operating and net – value
Budget
Outline the budget for each of the initiatives, including the market research, product development,
channel and trade promotions, then communication budgeting etc.
It’s helpful to compare the total marketing budget with your actual expense.
Over the course of the year given the cash allotted to the Marketing team, we expect to invest in the
following items to ensure we meet the objectives outlined in this marketing plan.
Some of the budget formats are mentioned below-
a. Channel distribution and trade marketing budget
b. Advertising budge
c. Digital marketing budget
d. Product and packaging
e. Quarterly budget
f. And annual budget
End Note
A go-to-market plan is an action plan for your organization, so that the entire team can be on the
same page, in researching, launching and assessing product launch or market entry efforts. Once
you’ve created your go-tom-market plan, take the main highlights, deliver them to your executive
team, and after approval, set up schedules and focus on execution, compare the budget with actual
to get a sense of expenses and adjust accordingly. Similarly the KPIs can be monitored and adjusted
as per the marketing needs at every stage. As we have suggested a flexible plan, it can be moulded
accordingly.
Thank you.

Weitere ähnliche Inhalte

Was ist angesagt?

Snacko india-ltd
Snacko india-ltdSnacko india-ltd
Snacko india-ltdprat1401
 
Marketing Case Study - Saffola Journey
Marketing Case Study - Saffola JourneyMarketing Case Study - Saffola Journey
Marketing Case Study - Saffola JourneySharad Srivastava
 
Case study - Mortein Vaporizer Vikapla
Case study - Mortein Vaporizer VikaplaCase study - Mortein Vaporizer Vikapla
Case study - Mortein Vaporizer VikaplaTushar G
 
IMC Presentation on Dettol
IMC Presentation on Dettol  IMC Presentation on Dettol
IMC Presentation on Dettol Sachin Chavan
 
Propecia section b_group3
Propecia section b_group3Propecia section b_group3
Propecia section b_group3Prateek Goel
 
HUL Finace Season 3 2018 Case Competition - National Finalists
HUL Finace Season 3 2018 Case Competition - National FinalistsHUL Finace Season 3 2018 Case Competition - National Finalists
HUL Finace Season 3 2018 Case Competition - National FinalistsBhargava Ram
 
Big basket Supply Chain Management
Big basket Supply Chain ManagementBig basket Supply Chain Management
Big basket Supply Chain ManagementAyushi Mona
 
Pharmasim final report
Pharmasim final reportPharmasim final report
Pharmasim final reportAuT Tanwichit
 
Go to Market Strategy
Go to Market StrategyGo to Market Strategy
Go to Market StrategyRajiv Netra
 
Brand Management Presentation- Perceptual map of Apparel Retailers in India
Brand Management Presentation- Perceptual map of Apparel Retailers in IndiaBrand Management Presentation- Perceptual map of Apparel Retailers in India
Brand Management Presentation- Perceptual map of Apparel Retailers in IndiaDevang Tailor
 
Startup go to market strategy
Startup go to market strategyStartup go to market strategy
Startup go to market strategyAnders Hermansson
 
Launching krispy natural case study analysis
Launching krispy natural case study analysisLaunching krispy natural case study analysis
Launching krispy natural case study analysisAbhishek Pathak
 
GAMEPLAN Season 10 Case study Solution
GAMEPLAN Season 10 Case study SolutionGAMEPLAN Season 10 Case study Solution
GAMEPLAN Season 10 Case study SolutionKunal Kashyap
 
Brand Management on Brand Flipkart
Brand Management on Brand FlipkartBrand Management on Brand Flipkart
Brand Management on Brand FlipkartAnie Noorish Shaikh
 
Zenith (HDTV) Case Study by Dhiraj Agarwal
Zenith (HDTV) Case Study by Dhiraj AgarwalZenith (HDTV) Case Study by Dhiraj Agarwal
Zenith (HDTV) Case Study by Dhiraj AgarwalDhiraj Agarwal
 
JC Penney Failed Pricing Strategy
JC Penney Failed Pricing StrategyJC Penney Failed Pricing Strategy
JC Penney Failed Pricing Strategywcanelon
 
Brand building and category expansion_ITC Interrobang Case Competition FMS_Delhi
Brand building and category expansion_ITC Interrobang Case Competition FMS_DelhiBrand building and category expansion_ITC Interrobang Case Competition FMS_Delhi
Brand building and category expansion_ITC Interrobang Case Competition FMS_DelhiSukesh Chandra Gain
 
Tate’s Digital Strategy: The Times They Are A-Changin’
Tate’s Digital Strategy: The Times They Are A-Changin’ Tate’s Digital Strategy: The Times They Are A-Changin’
Tate’s Digital Strategy: The Times They Are A-Changin’ Museums Computer Group
 

Was ist angesagt? (20)

Snacko india-ltd
Snacko india-ltdSnacko india-ltd
Snacko india-ltd
 
Marketing Case Study - Saffola Journey
Marketing Case Study - Saffola JourneyMarketing Case Study - Saffola Journey
Marketing Case Study - Saffola Journey
 
ITC Interrobang
ITC InterrobangITC Interrobang
ITC Interrobang
 
Case study - Mortein Vaporizer Vikapla
Case study - Mortein Vaporizer VikaplaCase study - Mortein Vaporizer Vikapla
Case study - Mortein Vaporizer Vikapla
 
IMC Presentation on Dettol
IMC Presentation on Dettol  IMC Presentation on Dettol
IMC Presentation on Dettol
 
Propecia section b_group3
Propecia section b_group3Propecia section b_group3
Propecia section b_group3
 
HUL Finace Season 3 2018 Case Competition - National Finalists
HUL Finace Season 3 2018 Case Competition - National FinalistsHUL Finace Season 3 2018 Case Competition - National Finalists
HUL Finace Season 3 2018 Case Competition - National Finalists
 
Big basket Supply Chain Management
Big basket Supply Chain ManagementBig basket Supply Chain Management
Big basket Supply Chain Management
 
Pharmasim final report
Pharmasim final reportPharmasim final report
Pharmasim final report
 
Go to Market Strategy
Go to Market StrategyGo to Market Strategy
Go to Market Strategy
 
Matching Dell
Matching DellMatching Dell
Matching Dell
 
Brand Management Presentation- Perceptual map of Apparel Retailers in India
Brand Management Presentation- Perceptual map of Apparel Retailers in IndiaBrand Management Presentation- Perceptual map of Apparel Retailers in India
Brand Management Presentation- Perceptual map of Apparel Retailers in India
 
Startup go to market strategy
Startup go to market strategyStartup go to market strategy
Startup go to market strategy
 
Launching krispy natural case study analysis
Launching krispy natural case study analysisLaunching krispy natural case study analysis
Launching krispy natural case study analysis
 
GAMEPLAN Season 10 Case study Solution
GAMEPLAN Season 10 Case study SolutionGAMEPLAN Season 10 Case study Solution
GAMEPLAN Season 10 Case study Solution
 
Brand Management on Brand Flipkart
Brand Management on Brand FlipkartBrand Management on Brand Flipkart
Brand Management on Brand Flipkart
 
Zenith (HDTV) Case Study by Dhiraj Agarwal
Zenith (HDTV) Case Study by Dhiraj AgarwalZenith (HDTV) Case Study by Dhiraj Agarwal
Zenith (HDTV) Case Study by Dhiraj Agarwal
 
JC Penney Failed Pricing Strategy
JC Penney Failed Pricing StrategyJC Penney Failed Pricing Strategy
JC Penney Failed Pricing Strategy
 
Brand building and category expansion_ITC Interrobang Case Competition FMS_Delhi
Brand building and category expansion_ITC Interrobang Case Competition FMS_DelhiBrand building and category expansion_ITC Interrobang Case Competition FMS_Delhi
Brand building and category expansion_ITC Interrobang Case Competition FMS_Delhi
 
Tate’s Digital Strategy: The Times They Are A-Changin’
Tate’s Digital Strategy: The Times They Are A-Changin’ Tate’s Digital Strategy: The Times They Are A-Changin’
Tate’s Digital Strategy: The Times They Are A-Changin’
 

Ähnlich wie GTM and rebranding of a famous snacks retailer in Aurangabad.

Manajemen Pemasaran: Managing Profitable Customer Relationships
Manajemen Pemasaran: Managing Profitable Customer RelationshipsManajemen Pemasaran: Managing Profitable Customer Relationships
Manajemen Pemasaran: Managing Profitable Customer RelationshipsMuhammad Fajar
 
0601027 analysis of customer relationship management
0601027 analysis of customer relationship management0601027 analysis of customer relationship management
0601027 analysis of customer relationship managementSupa Buoy
 
Retail management
Retail managementRetail management
Retail managementJimly Gogoi
 
Trade Marketing By Aurangzaib Qazi V1.1
Trade Marketing By Aurangzaib Qazi V1.1Trade Marketing By Aurangzaib Qazi V1.1
Trade Marketing By Aurangzaib Qazi V1.1Aurangzaib Qazi
 
retail marketing project
retail marketing projectretail marketing project
retail marketing projectsai pavan
 
Retail market strategy
Retail market strategyRetail market strategy
Retail market strategyHamza Ali
 
Accenture masters-of-rural-markets-selling-profitably-rural-consumers
Accenture masters-of-rural-markets-selling-profitably-rural-consumersAccenture masters-of-rural-markets-selling-profitably-rural-consumers
Accenture masters-of-rural-markets-selling-profitably-rural-consumersVartica Khanna
 
ALL ABOUT MARKETING by Aditi Walia
ALL ABOUT MARKETING by Aditi WaliaALL ABOUT MARKETING by Aditi Walia
ALL ABOUT MARKETING by Aditi WaliaAditi Walia
 
Retail Marketing Strategy retail rajnish kumar itc
Retail Marketing Strategy retail  rajnish kumar itcRetail Marketing Strategy retail  rajnish kumar itc
Retail Marketing Strategy retail rajnish kumar itcrajnish kumar
 
Big bazaar customer relationship management
Big bazaar customer relationship managementBig bazaar customer relationship management
Big bazaar customer relationship managementAman Bansal
 
tarunsharma-Resume
tarunsharma-Resumetarunsharma-Resume
tarunsharma-ResumeTarun Sharma
 
CHAPTER-1 AND CHAPTER-2 PPT OF POM.pptx
CHAPTER-1 AND CHAPTER-2 PPT OF POM.pptxCHAPTER-1 AND CHAPTER-2 PPT OF POM.pptx
CHAPTER-1 AND CHAPTER-2 PPT OF POM.pptxVEENANMAI002515
 
Marketing strategies retail
Marketing strategies   retailMarketing strategies   retail
Marketing strategies retailPankaj Soni
 
Presentation1
Presentation1Presentation1
Presentation1iipmff2
 
Retailing Management unit-3 - IMBA Osmania university
Retailing Management unit-3 - IMBA Osmania universityRetailing Management unit-3 - IMBA Osmania university
Retailing Management unit-3 - IMBA Osmania universityBalasri Kamarapu
 
Why should service firms focus their efforts
Why should service firms focus their effortsWhy should service firms focus their efforts
Why should service firms focus their effortsquivenkaye
 

Ähnlich wie GTM and rebranding of a famous snacks retailer in Aurangabad. (20)

Manajemen Pemasaran: Managing Profitable Customer Relationships
Manajemen Pemasaran: Managing Profitable Customer RelationshipsManajemen Pemasaran: Managing Profitable Customer Relationships
Manajemen Pemasaran: Managing Profitable Customer Relationships
 
0601027 analysis of customer relationship management
0601027 analysis of customer relationship management0601027 analysis of customer relationship management
0601027 analysis of customer relationship management
 
Retail management
Retail managementRetail management
Retail management
 
Trade Marketing By Aurangzaib Qazi V1.1
Trade Marketing By Aurangzaib Qazi V1.1Trade Marketing By Aurangzaib Qazi V1.1
Trade Marketing By Aurangzaib Qazi V1.1
 
retail marketing project
retail marketing projectretail marketing project
retail marketing project
 
Retail market strategy
Retail market strategyRetail market strategy
Retail market strategy
 
Accenture masters-of-rural-markets-selling-profitably-rural-consumers
Accenture masters-of-rural-markets-selling-profitably-rural-consumersAccenture masters-of-rural-markets-selling-profitably-rural-consumers
Accenture masters-of-rural-markets-selling-profitably-rural-consumers
 
ALL ABOUT MARKETING by Aditi Walia
ALL ABOUT MARKETING by Aditi WaliaALL ABOUT MARKETING by Aditi Walia
ALL ABOUT MARKETING by Aditi Walia
 
Retail Marketing Strategy retail rajnish kumar itc
Retail Marketing Strategy retail  rajnish kumar itcRetail Marketing Strategy retail  rajnish kumar itc
Retail Marketing Strategy retail rajnish kumar itc
 
Big bazaar customer relationship management
Big bazaar customer relationship managementBig bazaar customer relationship management
Big bazaar customer relationship management
 
Segmentation
SegmentationSegmentation
Segmentation
 
Market research firms
Market research firmsMarket research firms
Market research firms
 
Retail strategy
Retail strategyRetail strategy
Retail strategy
 
tarunsharma-Resume
tarunsharma-Resumetarunsharma-Resume
tarunsharma-Resume
 
CHAPTER-1 AND CHAPTER-2 PPT OF POM.pptx
CHAPTER-1 AND CHAPTER-2 PPT OF POM.pptxCHAPTER-1 AND CHAPTER-2 PPT OF POM.pptx
CHAPTER-1 AND CHAPTER-2 PPT OF POM.pptx
 
Marketing strategies retail
Marketing strategies   retailMarketing strategies   retail
Marketing strategies retail
 
Presentation1
Presentation1Presentation1
Presentation1
 
1 - MASS MARKETING .pptx
1 - MASS MARKETING .pptx1 - MASS MARKETING .pptx
1 - MASS MARKETING .pptx
 
Retailing Management unit-3 - IMBA Osmania university
Retailing Management unit-3 - IMBA Osmania universityRetailing Management unit-3 - IMBA Osmania university
Retailing Management unit-3 - IMBA Osmania university
 
Why should service firms focus their efforts
Why should service firms focus their effortsWhy should service firms focus their efforts
Why should service firms focus their efforts
 

Kürzlich hochgeladen

Unraveling the Mystery of The Circleville Letters.pptx
Unraveling the Mystery of The Circleville Letters.pptxUnraveling the Mystery of The Circleville Letters.pptx
Unraveling the Mystery of The Circleville Letters.pptxelizabethella096
 
Major SEO Trends in 2024 - Banyanbrain Digital
Major SEO Trends in 2024 - Banyanbrain DigitalMajor SEO Trends in 2024 - Banyanbrain Digital
Major SEO Trends in 2024 - Banyanbrain DigitalBanyanbrain
 
BDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort ServiceDelhi Call girls
 
The+State+of+Careers+In+Retention+Marketing-2.pdf
The+State+of+Careers+In+Retention+Marketing-2.pdfThe+State+of+Careers+In+Retention+Marketing-2.pdf
The+State+of+Careers+In+Retention+Marketing-2.pdfSocial Samosa
 
Instant Digital Issuance: An Overview With Critical First Touch Best Practices
Instant Digital Issuance: An Overview With Critical First Touch Best PracticesInstant Digital Issuance: An Overview With Critical First Touch Best Practices
Instant Digital Issuance: An Overview With Critical First Touch Best PracticesMedia Logic
 
How to utilize calculated properties in your HubSpot setups
How to utilize calculated properties in your HubSpot setupsHow to utilize calculated properties in your HubSpot setups
How to utilize calculated properties in your HubSpot setupsssuser4571da
 
Social media, ppt. Features, characteristics
Social media, ppt. Features, characteristicsSocial media, ppt. Features, characteristics
Social media, ppt. Features, characteristicswasim792942
 
BDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort ServiceDelhi Call girls
 
BDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort ServiceDelhi Call girls
 
The Science of Landing Page Messaging.pdf
The Science of Landing Page Messaging.pdfThe Science of Landing Page Messaging.pdf
The Science of Landing Page Messaging.pdfVWO
 
FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756dollysharma2066
 
Google 3rd-Party Cookie Deprecation [Update] + 5 Best Strategies
Google 3rd-Party Cookie Deprecation [Update] + 5 Best StrategiesGoogle 3rd-Party Cookie Deprecation [Update] + 5 Best Strategies
Google 3rd-Party Cookie Deprecation [Update] + 5 Best StrategiesSearch Engine Journal
 

Kürzlich hochgeladen (20)

Unraveling the Mystery of The Circleville Letters.pptx
Unraveling the Mystery of The Circleville Letters.pptxUnraveling the Mystery of The Circleville Letters.pptx
Unraveling the Mystery of The Circleville Letters.pptx
 
Major SEO Trends in 2024 - Banyanbrain Digital
Major SEO Trends in 2024 - Banyanbrain DigitalMajor SEO Trends in 2024 - Banyanbrain Digital
Major SEO Trends in 2024 - Banyanbrain Digital
 
BDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 144 Noida Escorts >༒8448380779 Escort Service
 
The+State+of+Careers+In+Retention+Marketing-2.pdf
The+State+of+Careers+In+Retention+Marketing-2.pdfThe+State+of+Careers+In+Retention+Marketing-2.pdf
The+State+of+Careers+In+Retention+Marketing-2.pdf
 
Instant Digital Issuance: An Overview With Critical First Touch Best Practices
Instant Digital Issuance: An Overview With Critical First Touch Best PracticesInstant Digital Issuance: An Overview With Critical First Touch Best Practices
Instant Digital Issuance: An Overview With Critical First Touch Best Practices
 
A.I. and The Social Media Shift - Mohit Rajhans
A.I. and The Social Media Shift - Mohit RajhansA.I. and The Social Media Shift - Mohit Rajhans
A.I. and The Social Media Shift - Mohit Rajhans
 
Campfire Stories - Matching Content to Audience Context - Ryan Brock
Campfire Stories - Matching Content to Audience Context - Ryan BrockCampfire Stories - Matching Content to Audience Context - Ryan Brock
Campfire Stories - Matching Content to Audience Context - Ryan Brock
 
How to utilize calculated properties in your HubSpot setups
How to utilize calculated properties in your HubSpot setupsHow to utilize calculated properties in your HubSpot setups
How to utilize calculated properties in your HubSpot setups
 
SEO Master Class - Steve Wiideman, Wiideman Consulting Group
SEO Master Class - Steve Wiideman, Wiideman Consulting GroupSEO Master Class - Steve Wiideman, Wiideman Consulting Group
SEO Master Class - Steve Wiideman, Wiideman Consulting Group
 
Social media, ppt. Features, characteristics
Social media, ppt. Features, characteristicsSocial media, ppt. Features, characteristics
Social media, ppt. Features, characteristics
 
BDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 150 Noida Escorts >༒8448380779 Escort Service
 
BDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort ServiceBDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort Service
BDSM⚡Call Girls in Sector 128 Noida Escorts >༒8448380779 Escort Service
 
Chat GPT Master Class - Leslie Hughes, PUNCH Media
Chat GPT Master Class - Leslie Hughes, PUNCH MediaChat GPT Master Class - Leslie Hughes, PUNCH Media
Chat GPT Master Class - Leslie Hughes, PUNCH Media
 
The Science of Landing Page Messaging.pdf
The Science of Landing Page Messaging.pdfThe Science of Landing Page Messaging.pdf
The Science of Landing Page Messaging.pdf
 
Generative AI Content Creation - Andrew Jenkins
Generative AI Content Creation - Andrew JenkinsGenerative AI Content Creation - Andrew Jenkins
Generative AI Content Creation - Andrew Jenkins
 
FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu.Ka.Tilla Delhi Contact Us 8377877756
 
Turn Digital Reputation Threats into Offense Tactics - Daniel Lemin
Turn Digital Reputation Threats into Offense Tactics - Daniel LeminTurn Digital Reputation Threats into Offense Tactics - Daniel Lemin
Turn Digital Reputation Threats into Offense Tactics - Daniel Lemin
 
Creator Influencer Strategy Master Class - Corinne Rose Guirgis
Creator Influencer Strategy Master Class - Corinne Rose GuirgisCreator Influencer Strategy Master Class - Corinne Rose Guirgis
Creator Influencer Strategy Master Class - Corinne Rose Guirgis
 
Google 3rd-Party Cookie Deprecation [Update] + 5 Best Strategies
Google 3rd-Party Cookie Deprecation [Update] + 5 Best StrategiesGoogle 3rd-Party Cookie Deprecation [Update] + 5 Best Strategies
Google 3rd-Party Cookie Deprecation [Update] + 5 Best Strategies
 
No Cookies No Problem - Steve Krull, Be Found Online
No Cookies No Problem - Steve Krull, Be Found OnlineNo Cookies No Problem - Steve Krull, Be Found Online
No Cookies No Problem - Steve Krull, Be Found Online
 

GTM and rebranding of a famous snacks retailer in Aurangabad.

  • 1. Ashis Anshuman (15) Rajas Raut (38) Mitali Shingne (31) Gyayak Jain (20) RDB PROTEIN BARS
  • 2. Contents Introduction to GTM Strategy o Company Name o About o Locations o Vision Statement o SWOT Analysis o Industry Overview o Buyer Personas o Competitor Analysis o Market Forces o Product Strategy o Pricing & Promotion Strategy o Distribution and Communication Strategy o Branding & Identity o Advertising o Marketing Program (Digital & Traditional) o Monitoring Progress & Performance o Budget o End Note o Product Portfolio o Opportunity o Competitive Advantage o Product – Problem Fit o Value Proposition o Positioning Statement o Strategic Objectives 1. Business Summary 2. Business Opportunity 3. Target Market 4. Market Strategy - Overview 5. The Game Plan - Roadmap
  • 3. Introduction to Go – To – Market Strategy The routes to market that consumer-packaged goods (CPG) companies use to sell and service their trade accounts determine their sales volume, their ability to deliver the proper levels of customer service in a cost-effective manner, and their success at securing scarce retail shelf space for their products. Nevertheless, few CPG companies have a comprehensive conceptual model for optimizing their routes to market. Such a model must enable companies to design go-to-market (GTM) models that are characterized by four qualities: They have a strong customer focus. They are aligned with the company’s strategic goals and value offerings, and supported by its operational capabilities. They balance customer needs, revenue growth, and cost-to-serve. And finally, they are flexible enough to be adapted in response to changing strategic goals and competitive threats. In an intensely competitive consumer goods sector, optimized go-to-market (GTM) models — the designs for the routes to market that companies use to sell and deliver their products and to service their trade accounts — are essential. They enable profitable growth, service excellence, and consumer engagement at the point of sale. But the more diverse a company’s customer base and product portfolio, and the more competitive its markets, the more challenging it is to design effective and efficient GTM models. The four pillars of a powerful GTM model To gain those benefits, an effective GTM model must be built on four pillars. The pillars represent the qualities of effective, efficient routes to market, as well as the design principles by which GTM models are constructed. We describe them as market-driven, coherent, balanced, and flexible. Market-driven: Too many companies design GTM models in an inside out manner. That is, their design efforts are so focused on internal considerations, such as ease of implementation, existing sales and delivery processes, and cost-to-serve, that the needs and desires of trade customers and consumers receive short shrift. The most effective and efficient GTM models are designed from the market back, ensuring that they are properly aligned with customer and consumer needs. Toward this end, the structure of a GTM model should have a foundation of quantitative and qualitative characteristics of customer segments, including growth potential, the stated and unstated needs of customers in a segment, geographic footprint and location, sales volume, and profitability. This process has a secondary benefit: It forces GTM model designers to properly identify and define their companies’ customer segments. Coherent: In addition to external alignment with customers, effective GTM models must be properly aligned and integrated with the company’s overall customer service framework. It is often helpful to visualize this framework as a pyramid in which decision and design parameters flow down from the top, and support flows up from the bottom (see Exhibit 1, next page). From the peak of the pyramid, strategic goals
  • 4. flow downward, giving shape to customer value offerings. Value offerings, in turn, cascade downward, suggesting specific GTM models, which can then be designed to support delivery of a specific value proposition for each customer segment. And finally, GTM models help define the company’s operating models, dictating elements required to enable and support the GTM models. The resulting coherence within the customer service framework ensures that GTM models support the achievement of corporate goals, as well as receive the support they need to operate successfully. Balanced: An effective model must enable identification and balancing of competing priorities in the design and operation of GTM models. There are three sets of priorities that must be considered: customer needs and preferences, which determine satisfaction and affect growth potential; revenue growth, which determines market share and volume; and total cost-to-serve, which determines the economic feasibility and profitability of serving both individual customers and customer segments. In analysing their GTM alternatives, managers must be able to balance the consequences of design alternatives and decisions on all three priorities, determine the proper trade-offs among the priorities, and build an optimal GTM model accordingly. Comprehensive Product and Service Framework Flexible: Finally, because CPG companies must manage an increasingly diverse customer base with differentiated GTM models, a high-quality design model must include a method for understanding GTM routes in functional terms, a full palette of design alternatives for constructing them, and a method for determining which alternatives are best suited to individual customers and customer segments. Managers need flexibility in terms of GTM model design, and once a design is chosen and implemented, they also need a means of improving it or adapting existing models as conditions change. Typically, a CPG company’s routes to market encompass three major activity types: • Growing activities are the work of establishing and expanding customer accounts. • Sustaining activities are the work of servicing and maintaining customer accounts. • Value-adding activities are the work of brand building and enhancing the customer experience at the point of sale.
  • 5. The degree to which each of these activity types is needed will vary widely by customer segment. For example, in customer segments with low levels of penetration, growing activities would be emphasized in order to win new accounts. In segments where a company has a robust customer base, sustaining activities would be emphasized in order to maintain high levels of customer satisfaction and retention. In segments where consumer market share is low, value-adding activities would be emphasized in order to enhance the point-of-sale experience and build share. A holistic view of routes to market
  • 6. Chapter 1 : Business Summary Company Name : Rajaram Daduram Bassaiye Sector : Traditional snacks retailer Vision : Serve fresh and Best Location : Aurangabad, Maharashtra Rajaram Daduram Bassaiye is a 40 year old business located in the heart of the city of Aurangabad. This business was initially set up to sell oil as a part of tradition of the ‘Teli Samaj’. Eventually the business expanded and a retail outlet for selling traditional Indian snacks was established. These snacks included of peanuts, roasted chikpea (futane), daliya, peanut and rajgira chikki, puffed rice (bhadang murmura) and many more. This was one of it’s kind shop and the niche product category made it a one-stop-shop for the snacking options. Serving fresh and good quality products was always the thought behind the business along with a humility of willingness to serve (seva). The products and brand gained popularity in the small town and the location of the outlet was a huge advantage in the success of the business. This retail outlet is located in the older part of Aurangabad called Gulmandi, which happens to be a hub of all traditional retail shops across different categories. Thus Bassaiye became a mandatory stop in all the monthly purchases. Today the market has evolved with emerging modern retail in the city, but the popularity and quality of products offered by Bassaiye has increased parallelly. The brand personality reflects trust and belief which has given them the power to charge premium. SWOT Analysis Strengths Weaknesses Opportunities Threats o Good quality of product o Old and trusted brand o High customer loyalty and brand recall o Outlet very small and inconvenient o No branches o No digital presence o Healthier snacking options o Established market in similar category
  • 7. Chapter 2 : Business Opportunity Rajaram Daduram Bassaiye today serves the entire population of Aurangabad and has introduced various other products in the market as well. The chikki bars from their outlet are a must buy for every mother that comes in the city market for everyday purchase. These chikkis are available in different variants like traditional peanut jaggery chikki, roasted peanut chikki, sesame and jaggery chikki, rajgira chikki etc. They also have a premium segment to these nutrition bars which includes variants of all dry fruits with jaggery. All these variants have a strong position as a healthy and nutritious snack in the minds of the customer. Given the trust the brand has built over all these years, customers don’t mind paying more for the products from Bassiye. Product Portfolio Given the popularity in Aurangabad market, Bassaiye now want to expand their market by establishing distribution in retail markets of other neighboring cities. Since 2016, they have expanded the Aurangabad market by making their products available in stores like D-mart and Reliance mart and some other local famous mom and pop stores. Establishing competitive advantage To ensure you have an advantage in your new market, first create a competitor profile and gather as much data as you can. For example: • Recorded data — Obtained externally in the form of published sources such as competitors’ brochures, promotions, news articles, and annual reports.
  • 8. • Witness or observed data — Such as what you see when you go to a trade show and visit a competitor’s booth, or the conversations you uncover through social media that customers are having about the competition. • Ability to gather plan data — Or efforts to set up opportunities to learn more about the competition. For example, by conducting interviews and having discussions coordinated with different partners, suppliers, or people who have relevant knowledge of the competition such as former employees. Product-problem fit “If I had asked people what they wanted, they would have said faster horses” — Henry Ford A critical piece of any go-to-market plan is defining the customers’ problems and validating the offering that addresses them. Take the following steps: • Define the pain — In a limited market like Aurangabad, there is the market for chikki bars and since there is trend and disposable income, people would buy it. But customers do not think in terms of solutions rather they somehow use whatever is available in the market when a need arises/ at the time of purchase. They only know what their pains are but they may not go on searching for the best products due to limited availability. You have to think outside of the box and pick up on the silent calls for help to solve a customer’s problem. • The urgency of the pain — The urgency comes as a threat from competitors both national and local players. And there is first mover’s advantage. Customer would not hesitate for long to switch to a competitor brand that is available in the local market and even an established company lose here subjecting to product unavailability. • The size of the pain — It requires accurate market data and analysis. Comparing similar markets and competitor landscape in that particular market would reveal or give a proxy of the size. • Willingness to pay — You want to be sure customers will pay for the product. In other words, if you can answer positively to the urgency and market size questions, then you can move forward knowing people will be willing to make a purchase. RDB has identified that pain point and saw the market. The growth in the protein bar segment is exponential across India and RDB has the reputation for making quality chikki.
  • 9. Chapter 3 : Target Market India nutritional bars market stood at $ 9.4 million in 2018 and is projected to grow at a CAGR of over 30%, to reach $ 46.2 million by 2024. Growth in the market can be attributed to increasing incidences of lifestyle diseases such as diabetes, obesity, blood pressure, asthma, and other heart diseases and rising consciousness among consumers towards healthy eating habits. Moreover, other factors such as rising disposable income coupled with growing number of domestic and international market players are further anticipated to fuel growth in India nutritional bars market during forecast period. India nutritional bars market is controlled by these major players, namely– General Mills India Private Limited, Naturell (India) Pvt. Ltd., Sun Hygiene Foods Pvt. Ltd, Sprout Life Foods Private Ltd, among others.
  • 10. The current distribution system is established to cater the needs of the city of Aurangabad and there is huge potential for the chikki product in neighboring cities of Jalna, Ahmednagar, Nasik and Jalgaon. Buyer Personas The target market is specific due to the niche product offering. Buyer personas give a brief idea about the segmentation. I. Atharva Mehta 23 ▪ Nasik ▪ M Tech student in K.K Wagh college Nasik ▪ Lives in hostel ▪ Gym Freak ▪ Prefers Nutritious food II. Mansi Pawar ,17 ▪ Jalgaon ▪ M.J. College Std 12th student ▪ Diet conscious and follow fitness content creators on social media III. Swati Pai, 41 ▪ Ahmednagar ▪ Married, 2 Children ▪ Husband has a high paying job in Bank ▪ Does Grocery shopping from nearby super shoppy or D-Mart ▪ Prefers nutritive snacks over wafers and biscuits IV. Dhruv Kulkarni ,32 ▪ Jalna ▪ Works as Area Sales Manager for Cipla ▪ Bachelor, lives away from home ▪ High Disposable income ▪ On field time spent 7-8 hours ▪ Foodie Once desired market segments are identified, you can probe into which segments you would want to target first and what approach you would take. There are three ways to determine how you would target and communicate to a segment: • Priority — Focus on the audience segment whose behaviour will be the easiest to change if you’re looking for quicker impact. Follow the technology adoption curve philosophy. • Ease of reach — Consider the target segment that is the easiest to reach in the shortest amount of time, taking into account your resources. • Level of business impact — The size of the audience segment
  • 11. COMPETITOR ANALYSIS RDB THE WHOLE TRUTH BARS NUTRITIUS SUMMARY The well-established brand in Aurangabad market now wishes to enter bigger retail. The Whole Truth, is a Health-Food 9-month-old start-up. It is a common notion that healthy food isn’t tasty but The Whole Truth Foods is here to change that perception. Over the course of their journey they have launched variety of chikkis right from conventional flavors to healthy options. Strong presence on Ecommerce Platforms. TARGET CUSTOMERS Teenagers, Millennials & Health Conscious Individuals Teenagers, Millennials & Health Conscious Individuals Teenagers & Millennials PRODUCT OR SERVICE PRICING Penetrative Premium Average GENERAL MARKETING STRATEGY ONLINE MARKETING STRATEGY Absent Own Website Ecommerce Platforms & Local Vendor Websites STRENGTHS Strong Local Presence, Brand Loyalty, Quality Assurance Organic Products, No Preservatives, No Flavors & No Additives Strong presence on Ecommerce Platforms and variety of offerings WEAKNESSES Packaging & No Online Presence Expensive & Lack Of Online Presence on Ecommerce Platforms Packaging Sizes & Lack Of Nutritious Offerings COMPETITIVE ADVANTAGE Penetrative Pricing paired with Nutritious offerings Preservative free healthy food Strong Presence on Ecommerce Platforms
  • 12. Some questions to be asked to gauge potential customer interest level: • Do customers have a need for the product because it solves a particular problem? • What would customers be willing to pay for the product? • What are the current purchasing trends with the targeted customer? Are they growing, decreasing or stagnating? • Why would customers purchase this particular product over a competitor’s? • Does competition have a favourable reputation with the target customer and what’s their current performance? The closer you can get to the customer and gather direct feedback, the more likely it is that your new product finds success. Porter’s Five Forces Competitive Rivalry • Established Brands but limited players • The industry is growing rapidly • The exit barriers are low Supplier Power • High Bargaining power of Suppliers • High Switch Cost Threat Of Substitutes • High threat of substitutes • Established Brands • Growing number of Healthy Food Entities Buyer Power • Low Buyer Power • Low Brand Identity in New Markets • Nutritious Snack Offering New Market Entrants • Low Entry & Exit Barriers • Local Players can hamper the Sales • Moderate Brand Loyalty • Low Switching Costs
  • 13. Chapter 4 : Market Strategy - Overview New products are born every day. New products also fail every day, thanks to recurring problems like “‘the market just wasn’t ready,” “pricing was too high,” “demand forecasts were way off,” or “the product really didn’t solve the right problem.” A go-to-market plan can help avoid these problems if it includes certain elements of research and action. • New market research — To probe buyer’s interest in RDB products, or otherwise to perform customer development. • Market trend research — Such as whether the company is entering into a stable or growing market and how saturated the market is (the protein chikki bar market). • Coordinated product development — Get intimate with the product by bringing product managers/developers into the research and market testing phases. • Target customer personas — Put together a specific profile of your early adopters, uncovering the reasons they would buy the product and, more importantly, why they would choose it over a competitor’s offering (Since RDB is 40-year-old company and trust, it becomes easier). When launching a new product, entering a new market, or doing both, a go-to-market plan will be crucial to product and marketing success. While a company’s marketing plan is a broad document that aligns marketing initiatives to the company’s high-level business goals and objectives, a go-to-market plan is more niche, focused, and developed for a specific product or market. A marketing plan includes the annual roadmap that outlines the company’s ongoing marketing strategy for products or services currently on the market. It includes advertising, promotions, public relations, digital marketing, direct sales, and events. A marketing plan documents the goals, objectives, research, costs, strategies, and action needed to drive business for the overall company. The go-to-market plan entails the action needed to move a product or a company in a new direction by focusing on internal resources — such as salesforce — and external resources — such as distribution channels. A go-to-market plan fleshes out the value proposition, builds a unique experience for customers, and finds ways to be competitive in the market. The benefits of a go-to-market plan include: • Reduces the time it takes to get to the market. • Lowers risk and the cost that may be associated with failed launches. • Delivers the best experience for the customer. Invests on the right path with better direction for internal sources and external partners. Some goals of a go-to-market plan RDB may include: • Product brand awareness — high awareness or being easily recognized, helps drive potential prospects and sales. For this, the plan needs to determine what channels will drive
  • 14. engagement and how much traffic from these sources will send a projected number of prospects over. • Marketing to leads — leads, are qualified people who will be interested in the product. A go- to-market plan needs to outline ways to market to potential customers to ensure there is a customer base the product is launched. • Sales targets — This is the portion of the qualified potential prospects who will actually convert to a paying customer. Targets can be set for stores, distributors, salespersons, and markets as well. • Product adoption — Otherwise known as user scale. High adoption rates will mean higher expected sales and economic returns. • Customer satisfaction — Otherwise known as defect levels. The goal would be to decrease the number of defects and dissatisfaction at launch and moving post launch. Value proposition • High-quality snack packed with flavour, protein, and fibre that only contains 6 Ingredients • Staying Hungry due to short break timings? Not Anymore! RDB Protein Chikki Bars keep you fuelled up and ready to go Positioning statement • To all the people who skip meals due to lack of time , RDB bar is the reliable all-in-one protein rich chikki bar brand that brings flavour and nutrition to keep you going. Snack your way to a healthy life • RDB Bars offer the most nutritious, delicious, organic alternative in a market crowded with products that are packed with empty calories, fillers, chemical additives, and preservatives. RDB Bars is a family-owned company that cares about customers, the environment, and the communities from which they source their ingredients Strategic objectives • Start a new product line of Protein bars along with conventional Chikki • Expanding the business by supplying to local retail mom and pop stores, Dmart, Super shoppe etc. of conventional Chikki items and Protein bars. • Promoting the Protein bars in Aurangabad as a healthy and nutritional supplement at Gyms and Fitness parlours. • Creating Digital presence by creating a website and on social media • Listing on platforms like Amazon pantry, Grofers and doing paid promotion on these online retail channels. • Establishing Distribution channel in nearby districts like Jalgaon, Jalna, Ahmednagar, Nasik • Listing on platforms like India mart and aim towards establishing state level distribution system and attract Distributors.
  • 15. Chapter 5 : The Game Plan - Roadmap When launching a new product, entering a new market, or doing both, a go-to-market plan will be crucial to product and marketing success. While a company’s marketing plan is a broad document that aligns marketing initiatives to the company’s high-level business goals and objectives, a go-to- market plan is more niche, focused, and developed for a specific product or market. A complete go- to-market plan will be composed of five layers: • Product strategy — To differentiate the new offering from those of competitors, helping build sales messaging. • Promotion strategy — Pricing promotions and cross-promotions at launch. • Channel strategy — Channels utilized not only to sell products but also to educate and support partners and customers. • Marketing strategy — Entailing efforts to generate awareness with customers and employees who interact with customers for instruction, purchase, and or support. • Customer experience strategy — Detailing the customer journey from initial awareness to activation, renewal, (re)purchase, cancellation, and referral. • Budgeting — To get an overview of the expenses we are going to incur and then compare it with the final/actual budget. The product strategy Form a product strategy prior to launch The product strategy will need to capture the product’s reason for existence, reaffirming how it will solve a problem for the long haul, and the company’s motivation behind its launch. In order to develop the product strategy, the product development team need to collaborate cross-functionally across the department to develop the product roadmap. RDB has successfully established the brand and built trust over the 40 years. The Original Aurangabad Chikki has huge demand and the company has the capacity to produce in large amount. Also, they are 3rd party manufacturers to some of the established national brands and start- ups. The health and quick snack segment have grown rapidly and in the last decade, there has been more than 100 such start-ups catering to this specific segment. The product market matrix bifurcates the product offerings for different market categories. It is evident that different GTM strategies are needed for each different case. In any tier-1 cities, the competition usually comes from local players but once market potential and consumer trend become apparent the same Aurangabad market could be a battle ground for each player to capture the market share. CPG is an industry where product innovation drives revenue and market share. So, offering same product to the same market (Tradition Chikki bar in Aurangabad)
  • 16. may not be a good idea. If you see, except for market penetration, every other quadrant needs GTM strategy. Numerous cases of start-ups capturing majority of the market shares are on the internet. Some of the successful examples are Snackible, YogaBar, Quest Bar etc. are leading the segment. RDB has also done that for traditional Gur- Chikki by combining it with fruits and nuts. Initially there are a few varieties of the new product and they are being introduced along with the traditional chikkis, khurmuras etc. For RDB, processes were less stressful as they are established player in the market with strong customer base. Consider these pointers when developing the product strategy: Expand the product vision — Capturing the changing landscape and customer needs over time. A limited vision will limit the product’s life. Collaborate cross-functionally — A product strategy needs input from marketing, the brand team, sales, product managers, customer service, and support. Key stakeholder involvement will make getting the buy-in for the product’s success easier in the long run. Inspire — In addition to sales goals the product vision and strategy need to inspire people towards a greater cause. Have an elevator pitch — Any business concept that needs to be explained in a long paragraph will probably fail. This makes it easier to communicate the concept with customers and internal stakeholders. Crafting the product message Product messaging can make or break a product by allowing the target customers to get to know and truly understand the product offering. Additionally, product messaging is an opportunity to stand out from the competition — if the message is well-positioned. Some tips to consider when building a successful product message: Communicate value — Choose value over features, because customers are only interested in the benefits and values that will be derived from using the product. Know your audience — Build your buyer personas using the market segmentation data you have gathered to build a clear picture of who you are targeting. The buyer persona is a semi-fictional representation of your potential customer. Be specific about your value offering — By talking to prospective customers about their problems and matching your wording to their voice.
  • 17. Collaborate cross-functionally with entire teams on the messaging — Don’t create messaging in a vacuum. Make sure you speak with members from other teams beyond your own department such as sales, or R and D. Use great writing — Poor, confusing, long-winded, or unfocused messaging won’t entice customers, it will only drive them away. Keep messages crisp, concise, and supported with imagery. Understand your competitor’s positioning strategy — Such as their pricing, distribution, and messaging tactics. This will help you differentiate yourself in the market. The pricing and promotion strategy Setting your product price at launch With detailed information on buyers and the marketplace, the pricing strategy is a direct reflection of the information you’ve gathered. Some pricing strategies to consider: Premium strategy, many products are priced higher than their competition, for perceived value. If so, then be sure your packaging, marketing efforts, and content created to support a high-end product positioning. e.g. Apple’s iPhone. Initial low pricing for market penetration — If the goal is to enter the market to grab attention and bite off market share. Despite the challenge of making less money in the short-run, the increase in awareness could result in greater profits in the long run and over time, you can price higher to reflect new positioning in the market. This has been the strategy of many Chinese brands such as Xiaomi. Constant low pricing — Used by companies with large sales volumes, such as the DMart’s of the world, who can keep their cost and marketing expenses down to create lower-priced products on a constant basis. Price skimming — Meaning, charging the highest initial price at launch and then eventually lowering the cost to attract other potential buyers. This is exactly following along the technology adoption curve footprints of user adoption. This can yield high returns for new products, creating a new market trend. Psychological pricing — Creating an emotional purchase decision with the customer, such as an impulse action when a customer sees that rs 195 sign, rather than rs 200. Bundled pricing — A technique used to group products together at a lower price. For example, McDonald’s combined a burger, drink, and fries in a Happy Meal — at a lower cost than bought separately. When products are bundled, consumers feel they’re getting more value for the bundled price. The feedback loop A crucial part of a go-to-market plan is preparing a feedback loop to gauge how customers feel about the new product. There are different ways to capture customer requests, either directly or via other support systems that capture the information. Customer surveys and one on one interviews — Use surveys and conduct interviews quickly after your product launch to capture fresh thoughts and ideas from customers. Sales feedback — Through the sales team’s follow up and fielding inquiries.
  • 18. Customer service or support — This front-line team will hear everything from the slightly unhappy individual to the angry ranter. Forum feedback — This is the opportunity to set up a feedback loop where customers can share their experiences with others, relying on the community as a helpful resource. This is where customer service and support teams should also actively participate. Employee feedback — Gathering feedback from employee users is a great way to hear straight from internal champions. Social media feedback — These are unfiltered feedback in massive amounts. The trick is to understand how to capture the right data to analyze. If the response rate is high, you might want to subscribe to a media analyzer tool. Promotions at launch Every new product launch needs to consider promotions and the ways they can capture the buyers with an introductory offer they can’t resist. • Sampling the product — The idea is that once you get the consumer to try the product, they’re hooked. • Coupon offer — Not just a 10% discount but a solution that helps solve their problems. • Promotional offer — Bundled into a package of products that they already know and like, a promotional offer is a great way to lessen the risk by coupling with products that are tested and proved. The distribution and communication Strategy The channel strategy sets you up to educate and sell your product in places where your customers want to purchase products from you and the first step is to find the right channels for the new product.
  • 19. Choosing the primary channels The first step is finding the right channels for the new product. Take note that currently available channels may not be right for the new product. The right channels need to target the right customers and create a seamless experience. As a part of the go-to-market plan, you want to map out the best channels for the product at hand. The Indian distribution system is one of the unique formats in the world and there are layers of distribution channels catering to different stores. Forming a channel strategy requires you to ask and answer a number of questions: • Where do the target customers make purchases? • Does the product fit the channel? • What level of interaction is needed for customers to make the purchase decision? • Would customers purchase through a partner? • Where can you can create an advantage over competition? Aurangabad has more than 40000 retail outlets including MT, GT, and other wholesalers. For this particular market, there are distributors and sub-distributors catering to thousands of the smaller retail outlets & out of those retailers the percentage of MT retail outlets are very small compared to GT. Since RDB already has a strong distribution network, the key here is to expand the network and increase product availability in the new and smaller retail outlets. For modern trade (MT) stores we have outlined different activation strategies and both parties, the store owner and the brand need activation planning. For general trade (GT) distributors and their network would ensure the product visibility. The only thing here is to provide them with good trade promotions and the return would be many times more than the investment. Managing for channel performance The channel strategy within the go-to-market plan includes the partners who are best suited to help drive channel performance. Relationships with these key partners aren’t just based on sales pipeline performance or the time it takes to make a sale — they’re based on trust, mutual understanding, and working together to achieve a shared goal. 0 Level 1 Level 2 Level
  • 20. As well as a framework for forming successful partnerships and business ecosystems, here are some softer tips to help drive channel performance with partners — who can feel like an extension of your companies’ sales organization rather than just outsiders working for you: • Identify potential obstacles with partners — When you select a partner it’s because their business is well suited to sell your products or services. The go-to-market plan should detail the pros and the cons of your collaboration, and review the potential obstacles in the channel partners may face when working with prospects and customers. An open dialog will help sides align even further. • Incentivize channel partners — Aligning specific incentives directly to different phases of the customer journey, makes it easier for partners to get involved at these stages and becoming part of the buying process. Some tactics include performance-based campaigns, big deal discounts, and rebates. • Treat channel partners as true partners rather than employees. Channel partners don’t work for you and when treated as partners, as equals, and not as subordinates, they will be more cooperative. Increased cooperation = greater channel performance = more sales ($$$). • Set and share realistic key performance indicators (KPI) with partners. KPIs will be the key metrics used to prove how you and your partners succeed together. • Celebrate any wins with partners. Take the time to recognize, celebrate and reward partners. Win their loyalty in the long run, because the market will certainly become more competitive in the coming years and you want their inventory share. • Know when to change your partners and transition to new ones. Based on the agreed KPIs, evaluate partners and change partners, if their performance is under the industry average. Consider the legal steps, think about a partner exit strategy, and how you would cease working together. Additionally, preserve any of the relationships your partners may have with other areas of your organization. Interacting with customers Customers rely on you to help them navigate channels and to educate and support them throughout their purchasing journey. Here are several ways that you can educate and support your customers.
  • 21. • Create a customer-focused culture — It’s not just saying you’re customer-focused, it’s showing your customers are your priority. Answer questions and concerns quickly, handle negative product experiences with an empathetic ear, and delight them with your attentive nature. • Be positive and kind at all times throughout your channels — Employ people who have a high emotional quotient — the ability to recognize emotions and incorporate other’s feelings into their thinking and behavior. This is an extension of the customer-focused culture which translates into channel etiquette in creating positive and polite experiences. • Support your customers through open communication — Bake it as easy as possible for customers to contact you through any of your channels. Let customers decide how they want to receive help and the ways in which they interact with you. It’s much better to have an open line of communication and to respond quickly to customer concerns. • Reward customers — Offer additional ways for customers to receive perks and specials just for being a customer, such as loyalty programs at MT outlets, discounts, first notice of new products, etc. Tell stories Digitally The go-to-market plan needs to map out communication at launch and beyond to keep audiences interested and engaged. Storytelling at launch: • Release an official product announcement, through a news-wire service that is social media and blogger friendly, ultimately getting your announcement to the hands of your customer. • Set up a specific landing page for your campaign. Digital and social media models will share your story and your launch promotions. By using your social media channels, and meaningful content with proper hashtags to support your launch, you’ll drive customers to the landing page. When they arrive, you can answer questions and encourage them to spread your message. • Create excitement about your launch. If you’re holding an event in conjunction with the launch, encourage people to attend and take photos and videos and share through social media. Create opportunities for behind-the-scenes live streaming video to show how your launch event played out for those who couldn’t attend. Storytelling after launch needs to keep people engaged: • Continue with media relations and pitching of interesting story angles. Find unique ways that your product is being used or how it’s making a difference in a customer’s life. • Use social media to share relevant content that helps customers’ decision-making process and move beyond the marketing messages. For example, use print journalism to report on interesting news and information the customers would want to know and share with their friends and colleagues. • Build compelling content by invoking your influencers. Keep your brand ambassadors and customers involved throughout your entire marketing campaign. Brand champions will let you know what they like to do and how you can involve them, from the contest and promotions
  • 22. to your Twitter chats, quick polls, and questionnaires. A key to participation is delivering the appropriate opportunities and being there to engage in the experience with them. When you can share a compelling product story at launch and beyond, then you’re involving your buyer for the life of the product — beyond the initial introduction. The stories you tell should help your buyer and engage them at every phase of the journey with you. Branding & Identity Strong branding elements establish brand presence in the market and build brand image. It shows quality and builds trust. In the long run, no brand can avoid branding elements and bad branding cannot save a good product. Since RDB is a family owned traditional business. Though they have the production and distribution capability, for most of the part, they have never considered about building a brand. For a long-term strategy, it is of utmost importance to build one that is hammered like a nail in the customer’s mind and gives an explicit statement about the company’s legacy. Suggested Logo Design “Rajaram Daduram Bassaiye” is a household name in Aurangabad and for most part, that hasn’t been challenged for decades. But current market is brutal and competition can arise from anywhere, not from a direct competitor but from an indirect one. Rajaram Daduram Bassaiye earlier had no logo as such, as their brand identity but for expansion and diversification, having logo is a must to establish the quality and legacy. The new logo that we suggest has the traditional appeal of the Rajaram Daduram Bassaiye legacy and it also has a punch of modern transition depicted by the 3-dimentional illusion. The simple design makes it scalable for any kind of printing.
  • 23. The Package Design Earlier the package was very basic, its just a polyethene wrapper around the product without any nutritional descriptions. It was not attractive however the chikki quality was good but that may not nudge a buyer from considering it. New product require new packet design and we revamped it with a modern look and different colour variations. Now it has the appeal and the personality keeping the 90-year-old legacy intact. Before After
  • 24. Advertising The Print Ad The print advertisement outlines the traditional to modern transition and positions the new brand with a beautiful message asking the consumer to try it for that quick protein treat.
  • 25. Store Activation This is specifically for modern trade retail chains and supermarkets for shelf activation and self-promotions in the stores. We can plan a complete action strategy with the supermarts and large stores starting from mall premises till the customer reaching the shelf. The above print ad and shelf material can be used as danglers, flyers at general trade stores. The message is consistent with the print ad and the new package design is displayed at every point of contact. Outdoor Promotions We also suggest OOH promotions at major traffic junctions in Aurangabad including banners and hoardings attached to large buildings. The reason is not many companies in this segment are doing this at the moment and the rates are cheaper as most of the spaces stay empty throughout the year baring a few of them at major junctions. Marketing programs Traditional A marketing strategy has to be based on the ability of creating messages that matter through the right channels. The key here is to reach customers and create meaningful interactions. Initially, our focus should be Below the Line advertising. Below-the-line advertising is an advertising strategy where products are promoted in media other than mainstream radio, television, billboards, print, and film formats. The main types of below-the-line advertising systems include direct mail campaigns, trade shows, catalogs, and targeted search engine marketing. Below-the-line advertising methods tend to be less expensive and more focused versus above-the-line strategies. We can do local newspaper advertisement (ATL) which has strong influence on the readers.
  • 26. Marketing programs Digital & ATL • Website marketing — We need to have a web presence and first step is to create a website. Every page of your website needs to have a call to action (CTA). Visitors should feel there’s always more to do and learn, offer online demos, free trials, icons to social media so they can follow you there, and sign-ups for a newsletter subscription. Rich, relevant content on your website should also be available and easy to share with networks. • Social media marketing campaigns — Social media marketing helps create brand and product awareness, generate demand, and delight customers with rich, shareable content. You can create conversations, resulting in likes, shares, and comments, to leads and sales through your website. Use social media as a part of your marketing program to get your audience to rally around your product. • Email marketing — What lands in someone’s email inbox has to be meaningful and from a trusted source. A strategic email campaign can be highly targeted and cost-effective. This is how LinkedIn basically scaled. Email marketing can be used to create brand and product awareness, sales conversions, collect user reviews and feedback, and share vital product information with special offers. • Search Engine Optimization and Marketing (SEO / SEM) — Make sure your website, and all of your content, is search engine optimized. SEO helps your content, including product news and materials, to be found by people who use search engines. If your content is not in the first few search pages, consumers simply abandon search results. • Paid display advertising and promotions through mobile, web, TV, radio, or magazines — Here, customers can easily be inundated with too many messages and advertising choices. You need to break the ad media landscape into the most effective places to reach customers. Monitoring progress and performance The designed go-to-market strategy needs to be executed phased wise and specific time periods must be set for each execution (such as- next 90 days plan, 120 days plan etc.) so that there is no cluttering and the performance measurement would be structured and after each execution, iterations can be tailored for the subsequent plans. Key performance indicators A new product launch plan needs KPIs to be guided towards where it’s going and how it’ll continue in the right direction. In marketing, we call this compass a key performance indicator or KPI. KPI metrics help organizations determine the effectiveness of their current business initiatives, helping teams make more informed decisions. There are hundreds of KPIs and metrics, far too many to track, so they’ll have to be narrowed down to determine which would be more appropriate for your efforts without creating data overload. • KPIs need to be easily translated into information that gives the leadership team a clear course of strategic action that’s in line with the organization’s business goals. • Select one or two KPIs per business goal, narrowing numbers down based on available resources. • Know the difference between KPIs and metrics you choose to support them. KPIs center your focus on the things that matter most. KPIs can be called metrics but not every metric is a KPI. The word key in key performance indicator is the determining factor.
  • 27. • Select KPIs that are easier to track and make sense for your business. Use digital KPIs and metrics so they can capture data through their websites and their social media channels. • Make your KPIs visible to other areas of your company. Have a cross-departmental KPI dashboard before moving onto your marketing efforts. • Store KPI data over time, benchmark success and spot trends at different times of the year. • Test your KPIs using the SMART approach. Specific, measurable, achievable, reliable, and timely. If they’re not, reassess them. Continuously evolve performance measurements In addition to building a performance measurement model using KPIs, the go-to-market tracking system needs to be flexible enough to understand that marketing efforts are performed in real-time — meaning you can change course and tweak your programs to accommodate your customers. You may also be adjusting your measurement based on shifting goals or team and channel performance. Here are some questions that need to be asked when assessing a performance measurement model. • Are your company’s business objectives still the same? • How well are the metrics capturing success? • What is qualitative information telling you (e.g. via customer feedback)? Do you need to make adjustments? • What tools would be more effective to measure the new product launch? • Did your channels perform as well as you predicted? • How well are you capturing front line team performance? By evaluating early and making any necessary changes, you’ll be strengthening the go-to-market planning and getting set up for better team performance. Be sure to listen closely to your team members on what would have worked better and how they think you can measure internal team performance more accurately. Flexibility is what really helps prove success and improve future launches. GTM Area Metric Area / KPI Comments Markets Market Share % (Revenue) Can use revenue or units Relative Market Share % Can use top 5 competitors Market Contribution % Market concentration, growth and trends Customers Customer Experience Index Can be a combo of retention, churn and others Wallet Share % Share of addressable spend Customer Loyalty % Review customer flow dynamics Channels Expense / Revenue % (E/R) Expense and revenue of each channel Channel Mix % Channel concentration, growth and trends Channel Performance-to-Plan The channels performance vs. plan
  • 28. Offerings Offering Performance % Year-over-year performance of each offering Profitability % by Offering Is the value message being realized Revenue % from New Offerings Can use <1 year depending on typical lifecycles Value Propositions Win Ratio % Does your proposition allow you to win more Competitive Replacement % Are you able to displace the competition Margin % Trends Gross, operating and net – value Budget Outline the budget for each of the initiatives, including the market research, product development, channel and trade promotions, then communication budgeting etc. It’s helpful to compare the total marketing budget with your actual expense. Over the course of the year given the cash allotted to the Marketing team, we expect to invest in the following items to ensure we meet the objectives outlined in this marketing plan. Some of the budget formats are mentioned below- a. Channel distribution and trade marketing budget b. Advertising budge c. Digital marketing budget d. Product and packaging e. Quarterly budget f. And annual budget End Note A go-to-market plan is an action plan for your organization, so that the entire team can be on the same page, in researching, launching and assessing product launch or market entry efforts. Once you’ve created your go-tom-market plan, take the main highlights, deliver them to your executive team, and after approval, set up schedules and focus on execution, compare the budget with actual to get a sense of expenses and adjust accordingly. Similarly the KPIs can be monitored and adjusted as per the marketing needs at every stage. As we have suggested a flexible plan, it can be moulded accordingly. Thank you.