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HRCP Case Study: Restoring an icon

Situation

The venerable market leader in an established, self-defined food category was seeing a steady decline in its category. Due to its reliance on a portfolio of four brands positioned within the same narrowly defined category, the company was experiencing erosion of both volume and profit.

Challenge

Henry Rak Consulting Partners was tasked with assessing the situation and recommending a strategy for brand growth, including both short- and long-term revenue and profit growth.

HRCP Advantage

Based on its Growth Advantage and Product Innovation analyses, Henry Rak Consulting Partners:

Defined a broader frame of reference for the product category, fundamentally changing how the category is perceived and expanding the competitive domain to highlight new, untapped market opportunities.
Defined a unique competitive frame for each of the company’s four brands, identifying distinct benefits and usage domain for each. HRCP recommended marketing each brand within its own distinct competitive frame to expand the sources of volume.
Recommended a reduction in spending for both trade and consumer promotion. Specifically, HRCP proposed reallocating more than $55 million in ad spending to boost profit.
Recommended redirecting R&D efforts from limited, highly cannibalistic efforts to major, new products with the power to dominate the newly identified competitive frames and their untapped opportunities.

Results

Successfully reversed a decade of volume declines for the company’s brand portfolio—achieving significant year-on-year growth.
Growth of the company’s key brands has been instrumental in giving the company’s stock a boost—stock price rose 33% during this period.
Successfully made the case for refocusing innovation on large, new opportunities—several of these initiatives have already achieved incremental revenues and profit.

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Competitive Frame:

Identifying the sources of growth

Knowing where and how to compete are crucial to market success. The HRCP Growth Advantage provides a new and powerful view of your Competitive Frame, giving you the foundational knowledge needed to make strategic growth decisions with precision and confidence.