Like many mature markets, the coffee sector is overflowing with competitors. So how do you ever justify launching a new product and how can you hope to dislodge the competition? During the summer of 2018 a team from Groundswell Innovation worked with Finlays, a global coffee producer, to stare down exactly this kind of challenge.
Here’s what the Management team at Finlays had to say about our project:
We engaged with the Groundswell’s team on a brand proposition that lacked traction. We needed an external and unbiased view on whether to invest further time and money or focus precious resource in other areas. After an initial exploratory meeting it became clear the team could add value. They got to know our business, markets and products and we established project budget spend, key deliverables and project milestones in a timely manner.
Through a combination of exploratory research in to analogous market sectors, category reviews for major retailers and in-home interviews the team delivered:
- The Identification of white space for a new product to enter the market, despite this sector being very well established and extremely crowded with old and emerging competitors.
- Comprehensive learnings that demonstrated the right marketing mix (product, price, value proposition) to communicate to retailers.
- An understanding of what this new branded product would replace and how it was different from competitor offerings.
- Clarification of key barriers and triggers, to maximise consumer trial and sustained product take-up once in store.
At all times Groundswell team members used their vast industry, market and brand experience to recommend sensible and practical options, which helped us make a balanced decision.