Could anyone please provide some general feedback on my framework/answer for a practice case I did? (this was a self case with no partner or interviewer)
Case prompt: Client is a sports apparel retailer in Europe with around £120m in revenues. They have satisfactory profitability and have hired you to help them develop a growth strategy over the next 4 years to increase revenue by 40%. How would you help them create this plan?
Clarifying Qs asked:
- Are the clients stores located in one country in the EU e.g. England or across several?
- Is the client open to expanding beyond Europe?
Drivers & Sub-drivers:
- Large growing markets
- markets similar to us
- markets with weak existing competition
- Marketing to bring in new customers
- Incentives for next purchases/customer loyalty programmes - repeat buyers
- Improve customer service
- Current products (right price, right product, quality etc)?
- New products (are we selling the right apparel)/whats our comp selling)?
- Review placement of products in store
- Acquisitions of smaller competitors
- Price matching competitors
- we are currently in markets with high competition and will need to explore new markets to increase revenue significantly
- having incentives such as next buy offers or customer loyalty programmes with help with repeat buyers and will result in losing less customers to competition
- new products will be needed to keep up with the latest market trends which may trigger a customers initial consideration for buying something.
- our competitors are selling similar products to us. With being more in a commodities market we may have to price match competitors to sustain sales volume.