Working with a UK food-to-go chain and its private equity backer to revisit its brand values and core purpose
The PE firm had an underperforming investment on its books that it had been unable to sell. Therefore, getting the company growing again was a priority.
The largely new management team at the portfolio business inherited a firm that was losing money, losing customers and had a lower revenue per square foot than major competition. However the most significant perceived problem was that neither team nor the customers understood what the brand stood for or the brand’s “Why”.
We took an iterative, workshop based approach combined with quantitative and qualitative research, including mystery shopping, surveys with on site staff, focus interviews with senior management and analysis of internal data.
We created an in-depth segmentation of the market to understand a highlighted disconnect between the customer and the proposition. Working with the senior leadership we decided to redesign the overall business vision.
We ensured a shared understanding across all key stakeholders of the renewed vision and values of the brand. The management team were aligned, understood the scale of the problem and agreed upon the solution. We delivered a detailed customer segmentation to the food team with a basis of where to take the range. Finally we transferred a three year plan with which to transform the business
like-for-like growth, up from -2% when we arrived
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