Developing a new brand and category expansion opportunities for a nutritional supplements company
Developing a new brand and category expansion opportunities for a nutritional supplements companyEquiBrand2023-10-20T11:19:53-07:00
Project Description
A Hawaiian-based, provider of nutritional supplements was looking to develop a new brand to align with its channel management strategies.
Product sales were highly concentrated with a single club retailer, which added to corporate risk. Company leadership wanted to create a new brand to diversify its business and open up new opportunities.
The new strategy required embracing a direct-to-consumer marketing approach, including a DTC-focused brand strategy and action plan.
Challenge
Hawaiian-based, provider of nutritional supplements within natural foods (e.g., microalgae)
Strong presence in Hawaii, within natural food stores, and with certain mainland retailers
Considering a separate brand for penetrating new retailer accounts, outside of current channels (while maintaining current relationships)
Seeking to expand into new, growing, related product categories (e.g., “green foods”)
Action
Situation assessment to confirm key consumer and category issues
Consumer framework development (hypothesized), including target identification (distinct vs. core brand)
Concept optimization and subsequent brand development activities (e.g., brand positioning, product naming, identity development, packaging and messaging framework)
Quantitative research to define brand equity, screen concepts and prioritize messaging
Result
New product concept (name, packaging, positioning, etc.); launch on hold
Brand extension opportunity assessment
Alignment of brand portfolio by consumer and retailer channel
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