VCW 4 Joanie Mertisch Distribuição: Selective Cosmetics Strategy
Determining the optimal strategy for Joanie Mertisch Distribuição to add a new category in the selective cosmetics segment.
Which strategy to follow to add a new category in the selective cosmetic segment?
This project addresses the challenge of identifying the best strategy for Joanie Mertisch Distribuição to add a new category in the selective cosmetics segment, utilizing the Value Creation Wheel (VCW) framework.
Overview:
Joanie Mertisch Distribuição aimed to develop a strategy for adding a new category to its selective cosmetics portfolio. The team employed the VCW framework to analyze the market, generate potential solutions, and prioritize them based on their feasibility and impact. The process involved extensive research, stakeholder engagement, and iterative refinement.
Application and Process:
The process began with a diagnostic phase, analyzing the cosmetics market, focusing on the selective segment. The creation phase involved generating potential solutions and filters through interviews, surveys, workshops, and market analysis. The POCR method was used to validate and refine these solutions and filters. The ground phase involved applying the value creation funnel to prioritize the most promising strategies. The operate phase involved presenting the final solutions to the board of directors, who then decided on the next steps.
Key Takeaways:
Market Analysis: Thorough analysis of the selective cosmetics market, including trends, opportunities, and the Portuguese market profile, is crucial for strategic decision-making.
Stakeholder Engagement: Involving various stakeholders, including internal teams, external experts, and the board of directors, enhances the quality and relevance of generated ideas and filters.
Prioritization: The value creation funnel effectively prioritizes strategies based on their feasibility and impact.
Strategic Direction: Analyzing foreign markets and leveraging current channels and partnerships were identified as the most promising strategies.
Iterative Refinement: The board's decision to revise the benchmarking strategy highlights the importance of iterative refinement and ongoing evaluation.
Conclusion:
The VCW framework effectively guided Joanie Mertisch Distribuição in developing a strategic approach for adding a new category to its selective cosmetics portfolio, demonstrating the methodology's effectiveness in addressing complex business challenges and driving strategic initiatives.