06 Strategic Customer Insight and Market Entry for a FoodTech Venture
BUSINESS STRATEGY
THE COMPANY
Major grocery retailer (Fortune 50 Corporation)
THE CHALLENGE
A major grocery retailer, embarked on an innovative journey to develop a new digital venture that would lend a hand to busy families in middle America at meal times. The app was conceptualized to include multiple valuable components, such as meal planning, grocery ordering, and restaurant deliveries. The challenge was to refine the venture's value proposition, define customer segments, and develop a go-to-market strategy, with a focus on identifying early adopters. The goal was to modernize offerings, serve busy families, and align with Walmart's growth objectives.
THE PROJECT
The project scope centered on strategy development for the new digital venture, with a specific focus on customer strategy, research, and segmentation. Collaboration extended to other work streams, including B2B business model and pricing.
I employed a deep, qualitative research approach, conducting in-depth Zoom interviews with customers. Following the interviews, I led a synthesis and opportunity generation workshop with the client team.
My approach involved a comprehensive set of methodologies:
- Engaging in deep qualitative interviews with existing customers.
- Conducting a large-scale quantitative survey targeting the desired demographic.
- Conducting competitive analysis of industry peers.
- Holding expert interviews with leaders from similar digital ventures.
- Collaboration with a videographer to create insightful video montages representing customer mindsets and segments
My efforts produced a robust set of initial customer segments, brought to life with customer photos, quotes, videos, narratives, and quantitative data. This work fed directly into a business plan and a well-informed market entry strategy, underpinned by deep customer insights and research. This provided my client with enhanced confidence and clarity for their pilot stage, guiding their long-term product and business development efforts.
This project involved in-depth customer analysis and strategy development for my client’s new digital venture, positioning it for successful market entry. The work significantly contributed to Walmart's ability to formulate a well-thought-out business plan, driven by deep customer insights.
This case study underscores the importance of using design thinking to drive customer-centric strategy development, thorough user research, and collaboration with expert stakeholders to inform market entry strategy effectively. It serves as a testament to the value of customer insight in shaping business growth.