11 Crucial Questions Ambitious Food & Drink Directors Can’t Afford To Ignore
Here are 11 important questions that food and drink directors can’t afford to ignore:
- Is your market share growing at a rate less than your competitors? If so, what are the 3 top reasons why?
- What are the 5 most likely fails when choosing a co-packer as a short cut to NPD?
- How many new brands would you love to work with that are off your radar, but on your competitors?
- Would the trade rate your product or brand as less than 8 out of 10? If so, how could you improve this?
- Is your route to market fully optimised? (tip to determine this – are all your sales coming from one route to market, for example, are you ignoring food service?)
- Do you have the right importers and distributors on board?
- By ignoring channels, could you be undercutting volume and value sales for your new start up brand?
- How much actionable insight do you get out of your data analysis? For example, from the last report you bought, did you enjoy a sales uplift as a result of insight and actions from the report?
- What percentage of your category management budget fails to affect sales?
- Do you have a sneaking suspicion that you’re missing out on significant export opportunities that your competitors are leveraging?
- Do you know your competitors’ strengths and weaknesses as well as they know yours?
So, how many of the 11 can you answer? Let us be clear: we didn’t say it would be easy to answer the 11, just crucial to your success. Food and drink is a big, increasingly complex sector and it’s understandable that you may not immediately have all of the answers. That’s where we may be able to help. At HRA, brands choose us to supplement their in-house capability with expert consultancy.
We can work with you to answer one or more of these 11 questions that you may currently struggle with. To explore how we may be able to help your results match your ambitions for your brand or portfolio, contact Hamish on +44 (0) 1803 203387 for a free 30-minute consultation.