Company A is losing market share over 5 years. In this market there are several key players with large market shares, including A. Company A must be assumed to be operating normally over the past 5 years.
Brief is to design an engagement on what your firm would do to address this decline. This sounds like a typical "growth strategy" is desired.
Without going into the myriad of different approaches already discussed (Price, Place, Product, Promotion), 3Cs etc: Off the bat I am thinking the easy stuff is - seeing as this should be a concise pitch:
- Identify the reason why company A is losing market share
- Find ways to regain and grow market share
- Build an engagement that will captivate the client
Seeing as Company A already has data on its market share from a data provider I am not going to suggest an in-depth market analysis before going into the competitor and company part. Or should I? If we have the data and the client is willing to share I'd imagine we would want to first validate the data and the results. Anything else seems redudant and unimaginative? This is problem solving not market research.
Here are some other questions:
- Where would I pose the question to the client whether they have the cash or appetite for an acquisition?
- What are the current trends in market growth strategies?
- New (processes, experiences, features, customers, offerings, models) - this was a case example of from Apple used in HBR (https://hbr.org/2018/06/the-6-ways-to-grow-a-company)
Any suggestions would be helpful. I have a wide berth in this case so creativity is key!
