Literally Brilliant can provide assistance in exploring all of the traditional growth opportunities open to a business:
- New Product Development
- Market Extension
Assistance with growth strategies includes top level strategic assistance such as evaluation of alternatives and assistance with risk assessment. Literally Brilliant can also provide implementation assistance such as implementation of NPD processes.
One of the most important aspects of marketing is ensuring that you have a route to market that satisfies the requirements of your brand as well as the commercial requirements of your business. You need the revenue from sales to drive cash flow in your business but not at the expense of brand equity.
One key aspect that should be considered is the degree to which you have direct access to the consumer. There are some occasions when the retailer, a partner or a reseller holds the relationship with the customer/consumer, and as a result, has an inordinate amount of power to influence your brand equity. This forces us to consider the strategic implications of the route to market that has been chosen and perhaps requires us to reconsider certain channels if brand equity risk cannot be suitably mitigated.
Channel strategy also impacts on different customer groups in different ways. There may be two distinct group of customers: one group that delivers the volume and another that delivers the profitability. The key to strategy is to maximise long-term profitability and this may require an adjustment to channel and sales strategy to ensure that profitable customers are serviced for growth.
Literally Brilliant can help you to think through the pros and cons of different channels to help you to determine the best route to market. We can also provide assistance with sales strategy and key account management strategy.