Situation: Scientists working for our client, a $40 billion chemical company, had created a breakthrough, innovative product—fiberglass-free batt insulation—but the company did not know how to commercialize this new technology quickly or how to make it relevant and meaningful to consumers in order to drive the most impact. One of the largest home improvement stores saw the possibilities in the product, and wanted the company to get it to them in 90 days to test market. As a major B2B industrial company, our client did not have the core marketing capabilities required to guide the launch and set the strategy. They had little experience in consumer-facing businesses in particular and needed help to address their business opportunity – how to capture the value of this innovative product at a price that made money for them and the retailer.
Core Strategy Group’s Approach: Our immediate focus was on helping our client understand the consumer marketplace, specifically what would motivate shoppers to buy a new type of insulation from a relatively unknown retail brand. We validated the market potential for this product and tested and identified the consumer benefits that would drive sales. Using this data, we created a unique brand positioning that enabled the client to understand not only which technological features would create purchase interest but also which new emotional drivers could be used to close the sale. We then worked with the client to develop a name that captured the most compelling benefits and served as a marketplace differentiator. Our final deliverable was to develop the marketing plan for launch and sustained growth. This work gave the client a near 50% premium on price by successfully capturing the right market value for this product.
Results: The product went to its test markets on schedule—and was an immediate sell-out. As a result of this in-store performance, the retailer placed the product in all of its stores nationwide, leading to the product exceeding all sales forecasts and reaching unprecedented success in the U.S. Additionally, in 2007 the product was recognized and received a Breakthrough Award for its technology from a well-known and well-respected industry magazine.
The Core Strategy Group Difference: The problem that most companies face is that while markets have changed fundamentally, the practice of marketing has not kept up or taken responsibility for business results. Core Strategy Group combines a unique business-focused marketing discipline with the aggressiveness and drive of an insurgent strategic model. It is a model built for clarity, speed and impact. This is the new model for companies who are serious about improving their market performance, revenues, share and return on marketing investment. It provides the most effective way for any organization to compete—and win.