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Uncovering market potential for the new FMCG brand

CO-RO

Company description

CO-RO was founded by Danish brothers Flemming and Jep Petersen in 1942 in a small kitchen outside Copenhagen. Since 1960, company grown rapidly outside Europe and today CO-RO’s  brands are present in over 80 countries. Together with our great local partners, we provide more than 3.5 billion servings of our high-quality fruit-based beverages and ice lollies every year.

CO-ROs main markets today are located in Middle East and Asia, and production is done on production sites around the world. We believe in being close to our customers and consumers – that’s why we have regional offices in Dubai and Kuala Lumpur and we have part or fully owned factories in Saudi Arabia, China, Malaysia, Sri Lanka, Kenya and Iraq.

Besides our own offices and factories, we have a long tradition of building strong partnerships, many of which stem back from the 1960s. The CO-RO group is financially strong, and now owned by a foundation (CO-RO’s Fond) and has 1200 employees worldwide. Our brands largest brands globally are Sunquick, Suntop, Sun Lolly and Suncola. Following the strong partnership foundation, we are looking to Australia as a market to explore for the new product. 

Project description

CO-RO has 40 years of experience in producing and selling home freeze ice lollies and what we call “Ambient Ice”. Ambient Ice means water and dairy based ice lollies, which can be stored, sold and transported ambient (in a liquid form) and frozen at home just before the consumption. Besides providing a convenience factor, this also has a significant environmental profile and provides an attractive value chain cost saving, as frozen distribution with poor CO2 footprint can be avoided. 
 
This category used to be one brand (Sun Lolly) in mainly Northern Europe, however 4 years ago CO-RO escalated the growth ambition within the Ambient Ice category with expansion into new markets in Middle East, Africa and Asia. One of the strategies for expansion was to use our local beverage brands Suntop and Sunquick to leverage their brand strength for entering a new category. The result is an impressive success within a wide range of markets. 
 
Building on the success of especially past 2 years of market expansion for Ambient Ice brand, CO-RO has appetite for more growth by adding new markets, new channels and new Ambient Ice concepts .  Therefore, we would like to understand how we should brand our product in new Australian market and how to enter market successfully (e.g. via acquisition of existing brand,  or other means).
 
We believe that being born and raised in Australia, gives a personal unmatched context and understanding of the local brands that none of the consultancy reports could even compare to. That is why we want to collaborate with the native Australian student(s) on this project

Key objectives to be answered:
 
To enter a market successfully, we have to assess local brands and prepare a strategy of our new product. The analysis should include:
•   Mapping of the retail shops landscape and the existing category of both overall ice cream and similar home freeze offerings.
•   Address customer (retail), consumer and shopper feedback on the offering and point out, what the key opportunities and barriers are for CO-RO in entering the Australian markets. The analysis should cover of what is required to overcome these. 
•   Analysis of local brands and find out the most market-fitted branding for our product and prepare a strategy how we should penetrate a market.
 
CO-RO will be able to provide access to global databases on volume, value sales etc. and will also be able to provide support for carrying out consumer tests locally in either quantitative or qualitative format. 
 
Expected outcome:
 
The ideal output for CO-RO is a very tangible and operational mapping of the key retailers in the category, assessment of CO-ROs applicability within the assortment of these. Interviews and direct feedback from potential customers on our offering will bring great value. The ideal output includes an assessment of the consumer relevance and purchase intention towards our offerings. 
 
The analysis of market and opportunity should be summarised and backed up by a clear recommendation for CO-RO on how to enter the Australian market (assuming that market entry is the recommendation naturally) and how to brand our new product.

Student description

We would like Master/MBA level students doing their final thesis or capstone project. The candidates have to be located in Australia and have a cultural background in the continent. The profile of students should be within marketing or branding and preferably with specialisation within consumer research or retail marketing. 
 
Also, you will have a direct contact with our director of global insights. We will support the students and prioritise to meet the students face to face in the critical stage(s) of the projects if needed. It is important that students have a strong theoretical toolbox, but also that students are able and willing to apply the “real life” practice of interviewing consumers, retail stakeholders etc. 
 
The applications will be reviewed on an ongoing basis and we will close once the right candidate or a group is found. For any questions related to the project, you are welcome to contact Kris at saikus@matchmythesis.com

Uncovering market potential for the new FMCG brand | Match My Thesis
Deadline
Jan 25, 2020
Degree
Master
Location
Register

Keywords:

Marketing and Branding

Market Analysis

Consumer Behaviour

Sales

Product Development

Consumer Research