How we get to success, creating a strategic plan for a Consumer Packaged Goods (CPG) food company.

Consumer Packaged Goods (CPG)

Consumer Packaged Goods, or CPG, are businesses that generally produce low cost and continually consumed products, this includes items such as food, beverages, or personal care products. Maine has been increasing its equity into these types of businesses through many supporting organizations such as the Fork Food Lab in Portland and the MCE Food Accelerator Program. These programs seek to bring new food products developed and manufactured in Maine to local, national, and international outlets. 

One of our latest clients was a CPG company that needed help with developing new market opportunities and a well defined strategy for growth. We began with a debrief of the business; what has been executed, ideas implemented, and what worked or failed. From there we went to work researching their market space and creating a rebrand of their niche products to give them an edge over their competitors. 

Once we determined their new products and potential market we developed a strategic management plan on how they would go from idea to $1MM in sales. This included a financial plan and forecast, defining an executive team with outlined responsibilities, and most importantly a map on how their products will make it into the hands of their customers and return for more. After running a  CPG company myself for over 10 years, I know in order to be successful, you have to find your niche and keep customers loyal. 

With a plan in place to monitor management metrics and key performance indicators our client was guided into action and encouraged to check in with us regularly to refine their plan as needed. Currently our client is in action mode and we are excited to see how their business will evolve over time.