Sell more peanut butter or have a larger share of breakfast?
Growth platforms are a company-wide tool for seizing opportunities beyond current categories and telling an inspiring growth story – to consumers, partners, and investors alike.
The global competition challenges Nordic companies to change. The winners succeed with more customer-oriented concepts and a clear and prioritized business focus. Looking at the business through a consumer lens, the addressable market can be seen in a new light and it can open new growth opportunities. This can be turned into a consumer-centric growth story for both internal and external stakeholders.
Let’s take Kraft Heinz as an example. Their stock was down by more than 70 % over the past three years. The company needed to rethink the way they run their business and the solution was to make consumers the driving force for the company. Instead of selling more peanut butter, they wanted to have a bigger share of breakfast occasions.
Instead of allocating their resources to more than 55 categories, they now run their business through six global platforms such as “Taste elevation”, “Easy meals made better” or “Real food snacking”. What a mind-shift change, what a focus!
Growth platforms are a strategic tool for steering growth through a consumer-driven view. They are based on the understanding of consumer needs and future trends as well market and channel dynamics, combined with the business perspectives of the company.
Growth platforms reveal new opportunities by defining the addressable market, its size and growth estimates. On the other hand, they reveal the company’s accessible market, its current market share and growth potential, not forgetting essentials, such as feasibility and brand fit.
At Marketing Clinic, we create growth platforms in three phases:
1. We uncover future growth opportunities by
2. We define where to play & how to win by
Incorporating growth platforms into company business planning by defining a portfolio strategy for growth
3. We accelerate through focus
We at the Marketing Clinic have witnessed how growth platforms can make a fundamental change in the way companies do business. If you want to open your eyes to a wider target market while focusing on getting results, please give us a call.