Hi all, I have a question regarding a potential written business case in the area of Marketing. How would you approach the following case: “A firm XYZ launched a new product please do a distribution and communication strategy it”
I don't really find any cases that goes in this direction, so I would appreciate every kind of help!
Thanks
Hi!
This is a typical example why rigorous top-down thinking will always beat frameworks!
Essentially, a strategy is the method to reach an objective. So, as always, clarifying the objective is the precondition for coming up with an approach/strucutre. No objective, no structure. It is as simple as that!
Let's say the objective is profit generation (the more the better). Then the question translates to:
What should the client do in terms of distribution and communication to increase profits?
Hence, we take our focus metric (profit) and idsaggregate it into its conceptual drivers (segments, revenue, cost, and deeper down). Then, we develop ideas how (1) distribution and (2) communication* can influence each driver into the desired direction.
That is how you adress problems from first principles and LOGIC. Unlike frameworks, this way of thinking can be applied to ANY PROBLEM in the world. It is a bullet-proof way of thinking that only extremely few candidates (far less than 1%) are able to show in interviews, and therefore those who do almost always receive offers.
Cheers, Sidi
*: Please check whether "communication strategy" comprises both external and internal communication or just one of the two
Agree with Sidi that this is a great example that problem solving is not about applying framework. Even without a ready framework, once you have a structured thinking process, you can drill down to the right data/info to get insights and formulate your answer.
In this case, a few steps you can take to begin cracking it: Understand the objective, what does the firm what to achieve by launching new product >> define how is sucess measured >> understand the product, how does it work, who are the custmomers and their behavior (related to dist and comm), what is the business model >> once you have a good understanding, it would be a lot easier to find your answers.
Best,
Emily
Hello!
Totally agree with Sidi, the 1st thing and most important thing is clarify WHAT WOULD BE SUCCESS for the campaing. If not, only taking the prompt you wrote down, you could have very different problems (e.g., increasing the awareness in the product, doing so for different segments, pushing revenues, etc.)
Hope it helps!
Cheers,
Clara
Thank you so much Sidi, during my research I really got overwhelmed by the sheer amout of different frameworks etc. Thanks for preaching top-down thinking!