Fortune 500 Consumer Care Division Case Study
Innovation and new product development for the consumer care division of a global Fortune 500 company.
The consumer care division needed a market innovation to ensure aggressive long-term growth targets were achieved in a highly commoditized product category. The Southern Growth Studio was engaged to ideate concepts and validate the business model that would provide a leading sunscreen brand with access to consumers at in-sun venues in both the U.S. and Brazil.
Utilizing design thinking methodology, the Studio sent anthropologists into the field in the U.S. and Brazil to study behavior patterns and belief systems held by consumers as they relate to sunscreen in public outdoor venues. The team used empathy to discern the primary need states which informed a point of view for ideation sessions. Ideation exercises yielded concepts that met the user’s core needs that were then screened for fit with business model criteria. In the second phase of the project, the Studio analyst team evaluated market size, business models, implementation feasibility, risk and financial impact for the leading concept.
Southern Growth Studio presented the findings of the project to several groups within the company, recommending the opportunity based on positive indicators in the following areas: consumer demand, strategic impact, commercial viability and financial impact.
The opportunity uncovered in this project was evaluated against other key corporate growth opportunities. The management team had a comprehensive understanding of the market opportunity, the capital investment needed, the return on capital and the go-to-market strategy. While the pilot launch is still pending, the strategy was well-received, and ultimately resulted in several ongoing engagements within the company. As such, Southern Growth Studio works alongside internal team members on a weekly basis to lead innovation efforts for all of the brands in the consumer care division of this global Fortune 500 Company.