Background
After making a failed attempt to enter certain difficult markets of African continent, an India based manufacturer of cookies and biscuits engaged Corporate International with the aim to recommend international marketing strategies for these special markets. Also, the client was seeking implementation support for the same.
Approach & Recommendations
Corporate International conducted a study to identify market opportunities for client’s products in the various difficult East African markets. Furthermore, we analysed client’s current product portfolio, operational capabilities and past attempts of entering these target markets.
The study revealed: Failure in these markets was mainly due to lack of correct business partner, lack of proper groundwork and understanding of the African market and socio ethinic culture along with improper product and pricing due to intense competition from products coming from Middle East.
Based on gained insights, Corporate International formulated customised international marketing strategies and also successfully worked for their implementation. It included, recommendation and prioritisation of target markets, identification of strong strategic partner, change in product mix and packing keeping in view the price point desired by consumers and implementing promotional plans as suitable for the market.
Results
Within one year of implementing strategies and with our support, the client successfully gained market entry. Our real-time consultation, regular visits to the market, continuous engagement with the customers on a 24 x 7 basis and ability to react to market challenges and needs helped the client keep themselves ahead of the rest of the market, in a nutshell, our efforts led the Brand to become a leader in less than 5 years of being present in the market. Our strong marketing efforts, promotional and pricing strategies resulted in a 200 Y-O-Y Growth in sales and resulted in a establishment of a strong overseas distributor network in the target countries and in less than a decade the Brand became a Market Leader by far having the largest market share and brand recall amonght competition.
Today the Brand is a market leader in East Africa.