A Global MNC, offering premium products with a strong presence in Institutional sales wanted to define their retail expansion strategy. Their industry is characterized by a large number of players, aggressive pricing and strong trade margins. Our client’s main objective was to understand how the retail trade viewed their offering and position their products for maximum traction.
Engagement Overview : Centric was engaged to help them define their positioning in an Indian context, understand trade perceptions towards the brand and product offering and based on these insights create a focused retail strategy. We began by reviewing the brand’s retail equity – interacting with trade partners, reviewing the merchandise mix, mapping the competitive environment and understanding the brand’s strengths and weaknesses.
Methodology : We conducted extensive primary research with retail interviews, shopping observation and mystery shopping. Our retail consultants also spoke to influencers and decision makers who impacted retail off-take. In addition, we also closely reviewed competition offering and communication to understand the drivers of choice, in the Indian context. We also spoke to the senior management within the company to understand their internal perspectives regarding potential barriers to retail growth.
Brand Review : Based on our proprietary tool kit we were able to help suggest a suitable Retail Strategy based on the brand’s Trade Equity, identify drivers of choice in the retail environment and gaps in the product mix. We worked closely with the client’s marketing team to create a below the line activation plan to influence both the retail partners and other decision makers who impact retail off-take. Our recommendations included retail visibility, thematic engagement programmes for retail staff and other initiatives.
Retail Strategy & Marketing Communication : Our recommendations for Retail Strategy led to certain changes in the company approach towards key accounts and general trade. Implications ranged from the kind of schemes being offered to the frequency of store visits and quality of interaction being monitored.
We also created marketing communication to support their retail expansion drive. Our deliverables included collateral to support the above initiatives – which addressed Indian market requirements while remaining true to the company’s international brand guidelines.
Read more about Centric’s approach towards the role of Customer Profiling in an In-Bound World