US Market entry for a leading South American food manufacturer
Situation/ Challenge
As part of the international expansion, a food manufacturer in South America needed to define an entry strategy for the US market. Defining the size of the prize and validating the strategy was critical to the company as it was exploring alternative markets with limited financial resources. The company had very limited recognition in US – primarily with Hispanic consumers.
Approach
Developed a six step process that started by aligning the Board of directors not only on objectives and expectations, but in the financial constraints. A deep assessment of relevant categories, the consumer and the competitive environment allowed us to build opportunity hypothesis that were then tested via consumer research. The size of the overall opportunity was validated and the roadmap for reaching key milestones was developed.
Results
Import volumes tripled in one year and one of the identified manufacturing facilities was acquired in the NE. Phase #1 portfolio of products introduced in early 2012.