Sparkling water costs pennies per can to produce.
If you knew this fact only, and you were in the sparkling water business, you might reasonably conclude:
- Others are going to want a piece of this profitable market.
- Some of them have been canning fizzy water for decades, and they’re damn good at it.
- Some of them have very deep pockets.
- Some of them are going to innovate.
- PepsiCo buys a Super Bowl ad for its Bubly brand. There are now 12 Bubly flavors available at my local Jewel-Osco.
- Spindrift touts its point of difference – real fruit juice.
- Whole Foods frequently gives premium display space to its 365-branded sparkling water.
And so on.
La Croix, which used to own the sparkling water category, had a dismal 2019, with sharp declines in sales, share & profits.
Yesterday’s victories do not guarantee today’s.
Market leadership isn’t about “who’s the biggest.” It’s about doing the right things today to create a better tomorrow.
As hockey legend Wayne Gretzky said, “I skate to where the puck is going to be, not where it has been.”
Are you planning for the changes tomorrow will bring? Are you driving change?
Market share and market leadership are two very different things.
About Matthew Fenton: Matthew is a former CMO who helps brands and businesses to focus, grow and win. Since founding his consultancy, Three Deuce Branding, in 1997, he’s helped hundreds of brands to achieve “brand clarity.” His consulting services and speaking engagements help brands to focus on what matters through positioning, strategy and ideation. Contact Matthew here. He’s based near Portland, in Oregon wine country.
Copyright 2020 – Matthew Fenton. All Rights Reserved. You may reprint this article with the original, unedited text intact, including the About Matthew Fenton section.