Mr Andy Oh, Marketing Manager of Unifood, which markets the Unisoy line of powdered soya milk products, wanted to expand his market share. The company excelled in the seniors market, but was not seeing as much success in the young adults segment. The company was hesitant about seeking costly professional help. When Andy learnt about the SME Consulting Programme, he decided to tap into this alternative.
Guided by an experienced advisor, the three-student team conducted a thorough brand-audit backed by strong research. The result was a comprehensive report complete with recommendations.
It unearthed a crucial insight: working adults had a very strong preference for ready-made soya milk, while students were actually more receptive to powdered soya milk. The revelation prompted the company to explore this initially neglected market segment and was the basis of Andy’s new three-year plan for his brand. Andy gave this programme his strongest recommendation. He added that “Typically, SME bosses think it’s time consuming, or they would have to divulge confidential data. In this case, they don’t have to.”
- Understand customer needs to define new market opportunities.
- Every unmet need could be a sales opportunity.
- Market research helps validate assumptions.
