Business Studies, asked by sovi6747, 1 year ago

How to do a case study on how to regain companies market share?

Answers

Answered by yogesh1232002
0
Case Study: Helping a Brand Regain Cultural Relevance and Market-Share



The challenge:

A Midwestern advertising agency approached First-The-Trousers for assistance on a new business pitch. The brand the agency was pitching was a regional market-leader that had started to lose relevance and market share. Newer entrants in the category, with a more aggressive marketing approach, were better at capturing the younger audience’s attention, interest and share of wallet. The agency and FTT arrived at the conclusion that the brand had lost touch with its consumers’ culture.

The solution:

It was time to reconnect the brand with the regional culture (one of Positioning-Roulette‘s approaches), increase its relevance and hopefully slow down and reverse the market share decline. In other words, the goal was to re-establish the brand as the cultural leader in that region.

Pressed for time (as always during a new business pitch) we opted for an online ethnography and a series of consumer interviews to validate our findings. Over a period of three days we immersed ourselves into this culture, digging for core values and core beliefs, typical behaviors, cultural icons and contemporary manifestations of this culture with the objective to capture the “essence” and DNA of this specific consumer group and translate that essence into actionable ideas for the brand. The outcome served as a strategic foundation for the creative teams and provided a series of tactical ideas for the brand.

Further, we remained strategic partners with the agency throughout the pitch process, helping review creative and ensuring that it remained true to the culture throughout.

The Results:

In new business, there is only one satisfying outcome: winning. So, we were thrilled to hear that the agency won the assignment.

An additional source of pride for us was the fact that our client beat out some “local” agencies, agencies that should have been way more in-tune with the culture they were doing business in and better positioned to understand their own culture.

Last but not least, a satisfied client is good for business, so we were thrilled to receive the following endorsement for the Chief Creative Officer of this agency: We recently brought in First the Trousers to work with us on a significant new business pitch. Ulli and his team painted a picture of our prime prospect that was thoughtful and rich in texture. Everything from idiosyncratic behaviors to core beliefs, they dug deep, uncovering consumer insights that provided our creative team with a solid strategic platform to build upon. FTT is a highly collaborative group with impressive agency credentials. They’re the ones I want to have on my side when it matters most

Similar questions