How can I command a premium in a commodity-driven market?
Challenge
A major player in the Residential Wood Products industry was at risk of losing its leadership reputation. Consolidation among new-home builders, downward pressure on margins and new competition were commoditizing the category. Growth was stalled. The company was focused on themselves. Production was not customer-driven and unresponsive to changing market dynamics.
Solution
A transformative brand and business strategy, for driving customer preference and commanding a premium in a commodity-driven market:
- Defined a new category “Whole-House Construction” and established pre-emptive thought leadership.
- Built a new business-facing brand with renewed commitment to product innovation and customer focus.
- Organized hundreds of disparate products and brands under a master brand architecture delivering greater cumulative value.
- Changed from a product-centric to a solutions-centric business model and sales structure, for increased performance and growth.
- Galvanized 16,000 employees into a unified, more excited, more confident workforce.
Results
The introduction was a success. Employee morale increased. Customer satisfaction improved. The business was able to protect market share and premium pricing, even during a housing industry downturn.
