Reading this article gave me a completely insight for increasing revenue for a company. They talked about how Kraft tripled their revenue after focusing on a few areas rather than mindlessly expanding. It discussed and brought to my mind a few interesting ideas that I have to consider before just recommending “sell different products” on my future business cases.
Kraft did this by introducing the 5-10-10. They focused on 5 strong categories, 10 power brands and 10 key markets.
I think that this strategy worked really well because Kraft is a big company, so they have a lot of different products that are very widely spread out and by focusing their money on the ones that are the most popular, most important, and has the most potential, they were able to increase sales and make their brand name stronger in some categories.
However, this strategy will not work for all companies. I view this strategy as organizing your desktop and putting files in the right folders. For Kraft, they had so many files and folders that it cluttered their desktop and slowed down the growth for their company. Therefore, this strategy will only work for companies like Kraft who are big and sells a lot of different products.