Diversifying Northwind product portfolio to increase global reach and solidify future growth
- Timothy McDaniel, Vice President, Marketing
- Katie Jordan, Director of Operations
- Anne Wallace, Senior Analyst
- Garth Fort, Strategist
Portfolio Expansion: Executive Summary
By all accounts, 2014 has been an exceptional year for Northwind. The company has garnered $903 million in sales, with 8.5% year-over-year growth. This record year has enabled Northwind to add $57 million to its cash reserves, for a total of $792 million.
Market research shows our brand at the peak of its awareness and popularity in the U.S., with favorable ratings not only in style and cachet, but also in value.
This surge in success puts Northwind at an important juncture. It’s essential that the company take advantage of the past year’s momentum in order to position itself for additional success and growth in the future.
Expanding the Northwind Brand Domestically
Our research leaves no doubt that Northwind is a household name in the U.S. At present, the brand has a retail presence in the majority of large U.S. metropolitan markets, and is currently executing a rollout into secondary U.S. markets, with additional stores planned in 10 mid-sized cities in 2016.
As a part of this rollout, Northwind is remodeling its flagship store to better reflect the au courant style for which the company is known. The new flagship space is located in the prestigious Grove shopping center in Los Angeles and will be 3,500 square feet. It is being designed by Clyde Herrin, whose firm has created notable spaces for a number of high-fashion and aspirational mid-market retailers.
Recognition of Northwind has reverberated beyond our borders.
Market research, as well as partner-driven e-commerce, shows that there is an awareness of and demand for Northwind products across the U.S. Northwind is in the perfect position to take advantage of its record profits and rising global brand cachet to expand its product portfolio.
After taking a number of factors into consideration (including demographics, regulation, manufacturing costs, freight and demand), we have concluded that the intelligent ambient audio space will provide Northwind with the greatest opportunity for success in its initial product expansion and allow the company to explore best practices for further growth.
This report is the go-to-market strategy for the [codename: Z100], a revolutionary new audio device that will change the way that everyday people experience ambient, contextually-sensitive mood-setting music.
Driving An Innovation Agenda
Northwind has always stood for driving the cutting edge of technology innovation. From the very beginning we have pushed the agenda. We frequently put out prototypes, and concept/vision videos, to spark the market's interest and drive the landscape to evolve.
Here are some of our latest visionary assets:
This culture and brand makes Northwind the perfect company to innovate once again with the Z100 product joining our family.
Design Research: From Idea to Reality