Page 4: The challenges
Bryant has become far more market focused. It now carries out extensive market research to discover what the market is looking for. As a result of this research, company planners have sought to differentiate Bryant in ways that improve its value to all stakeholders and which can stand the test of time. Durability and flexibility are both very important in a dynamic market place. For example, it is essential that The City and the company’s shareholders continue to be confident that Bryant is a sound investment for their funds. To sustain this confidence, it is important to be seen to have a competitive edge in the industry. To maintain customer loyalty and to win new customers, it is essential to be seen as the best provider of modern homes that exceed customer expectations. To gain excellent media coverage, Bryant needs to be regarded by interested parties as a well managed company with a clear vision of where it is going and with the right products etc.
In repositioning Bryant, there were three main challenges.
The challenge was to identify a compelling insight through which to reframe the way people think about new homes. All homebuilders tend to speak to potential customers in the same way, showing them exterior shots of dream homes and characterful designs. One problem for many homebuyers is that it seems to them that different companies are all supplying highly similar products. For example, Bryant’s market research found potential buyers making comments such as ‘You see three of the same on one newspaper page!’ Bryant realised that, in order to excite its audience, the company would need to go beyond the standard methods of communicating with them.
While in recent years the industry has been moving towards the consumer ideal by providing homes with more character and greater individuality, new government requirements in the form of PPG3 pose a threat to these improvements. Bryant has therefore had to find ways of turning the potential negative of PPG3 into a positive benefit.
Over time, other builders have copied Bryant’s ideas. This has reduced the differentiation that had previously given Bryant a premium in the market. Bryant needed to re-establish a position in the market that would enable it to restore its premium.