Strategy design for direct-to-consumer brand
Case study:
Strategy design for direct-to-consumer brand
- Situation
- Established direct-to-consumer brand had focused its product portfolio and continued to rely on a few top-selling products
- Management wanted to define an ambitious 5-year strategy to future proof its business, move from one-off product sell-out to solutions and service subscriptions and to reduce dependence on a few key products
- Actions
- Reviewed business performance, past strategy and financials and assessed current market position, customer base and operational capabilities
- Evaluated past strategic initiatives and developed a fact-based view of strengths, weaknesses, opportunities and threats
- Diagnosed core competencies behind past success and key strategic dilemmas for future growth and derived strategic options
- Designed an engaging strategy workshop for the extended leadership team to discuss and shape a strategic target picture for the next 5 years
- Refined workshop outcomes into an overall vision, strategic direction and key pillars and initiatives and aligned these with the company’s advisory board
- Defined the strategy process with timeline, deliverables, governance, staffing and workstreams to further detail the target picture
- Results
- Shared view on strengths, weaknesses, opportunities and threats and a common sense of urgency established
- Strategic target picture endorsed by the advisory board including how to balance core business with new growth opportunities and which key initiatives to pursue
- Structured strategy process defined and kicked off