As today’s consumer brand leaders assess their strategic options for growth, it’s always tempting to “think bigger” — more consumer segments, new product categories, broader distribution, geographic expansion and so on. Pulling all these levers sounds promising, but it’s often not the best way to build a business that can deliver and sustain long-term growth.
Increasingly, “thinking small” is the key to unlocking big growth. By “thinking small,” we mean:
- Focusing on the brand’s promise to the target consumer
- Carefully crafting products to satisfy their needs
- Developing a simple retail strategy to rigorously uphold, reinforce and deliver the brand proposition
Companies that think small understand the boundaries within which their brands have permission to play. They get the details of their products and customer experiences right. And they never sacrifice brand integrity to drive sales. Time and again, we see this kind of focus, discipline and consistency rewarded with big growth.
This Executive Insights examines the merits behind this approach and cites several examples of consumer brands that have prospered by thinking small.